TSLA Options History — December 2025

In December 2025, TSLA traded between $429.12 and $489.66. ATM implied volatility averaged 46.3%, placing in the 5.5% IV rank vs the trailing year. The 30-day expected move averaged 13.1%. IV traded above realized volatility by 6.0% (HV 20d: 40.3%). Max pain ranged from $350.00 to $380.00. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 14 of 22 days. Put/call ratio averaged 0.65.

Notable Days

2025-12-12: Highest Volume — 4,417,763 contracts
2025-12-29: Largest IV spike — 9.1% change
2025-12-30: Highest IV Rank — 11.2%
2025-12-16: Largest Expected Move — 14.4%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$462.00	$429.12	$489.66	$429.12	$450.58
Max Pain	$362.27	$350.00	$380.00	$350.00	$380.00
ATM IV	46.3%	41.3%	50.2%	46.4%	48.8%
Expected Move	13.1%	11.5%	14.4%	13.5%	11.5%
HV 20d	40.3%	32.7%	45.7%	45.7%	41.1%
HV 60d	44.8%	42.3%	46.8%	46.2%	42.3%
IV Rank	5.5%	0.0%	11.2%	5.0%	10.9%
IV Percentile	11.2%	0.0%	21.0%	10.3%	21.0%
Term Structure	1.8%	-0.6%	8.5%	1.1%	-0.1%
VWIV	47.3%	41.3%	51.2%	48.8%	41.3%
Skew 25d	-0.9%	-2.3%	1.0%	0.4%	-0.7%
Skew 10d	0.1%	-1.7%	3.6%	2.6%	-1.3%
Call IV 25d	48.0%	42.6%	52.5%	47.6%	50.2%
Put IV 25d	47.0%	41.7%	50.7%	48.0%	49.5%
Bid-Ask Spread %	2.75	1.77	3.96	2.06	2.37
Gamma HHI	0.05	0.02	0.20	0.03	0.02
Net GEX	1.31B	307.6M	2.32B	766.6M	307.6M
Net DEX	-72.74B	-98.36B	-49.36B	-57.61B	-49.36B
Net VEX	-406.7M	-429.9M	-383.7M	-390.2M	-383.7M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.65	0.50	0.76	0.72	0.75
Total Volume	2,236,191.955	1,242,381	4,417,763	1,242,381	1,554,128
Total OI	7,754,881.545	6,942,483	8,713,729	7,394,475	7,315,785

Daily Data (22 trading days)

Date	Price	Max Pain	ATM IV	Exp Move	HV 20d	IV Rank	VWIV	Skew 25d	Term Str	GEX	DEX	VEX	P/C	Spread %	Call Wall	Put Wall	Call Vol	Put Vol	Call OI	Put OI
2025-12-01	$429.12	$350.00	46.4%	13.5%	45.7%	5.0%	48.8%	0.4%	1.1%	766.6M	-57.61B	-390.2M	0.72	2.06	N/A	N/A	720,541	521,840	3,961,337	3,433,138
2025-12-02	$429.19	$350.00	44.8%	13.0%	43.7%	2.6%	46.7%	1.0%	1.1%	822.7M	-57.60B	-385.8M	0.65	2.13	N/A	N/A	1,092,770	706,469	4,037,324	3,520,187
2025-12-03	$446.61	$350.00	46.5%	13.6%	43.9%	5.2%	48.6%	-0.1%	1.1%	1.41B	-71.97B	-403.8M	0.53	3.06	N/A	N/A	1,656,987	877,357	4,132,113	3,601,101
2025-12-04	$450.88	$350.00	46.2%	13.8%	43.1%	4.7%	50.1%	-0.6%	1.3%	1.80B	-75.97B	-409.0M	0.64	3.17	N/A	N/A	1,292,308	829,614	4,266,548	3,732,508
2025-12-05	$454.93	$350.00	44.9%	13.5%	41.5%	2.8%	49.2%	-0.8%	1.5%	2.32B	-80.31B	-410.2M	0.72	3.96	N/A	N/A	1,628,561	1,178,310	4,364,260	3,813,165
2025-12-08	$438.21	$350.00	46.4%	13.6%	42.1%	5.0%	49.9%	-1.3%	0.8%	800.7M	-61.38B	-392.8M	0.70	3.02	N/A	N/A	949,914	663,947	4,103,880	3,490,425
2025-12-09	$447.22	$350.00	45.4%	13.3%	41.2%	3.4%	48.0%	-0.6%	1.0%	1.16B	-68.45B	-397.8M	0.68	3.14	N/A	N/A	880,796	601,750	4,266,339	3,588,853
2025-12-10	$454.99	$350.00	46.0%	13.5%	41.1%	4.4%	48.2%	-1.0%	1.0%	1.36B	-73.53B	-406.6M	0.56	3.02	N/A	N/A	966,154	544,998	4,286,943	3,662,201
2025-12-11	$445.63	$350.00	44.8%	13.1%	41.5%	2.7%	47.9%	-1.6%	1.1%	1.04B	-66.62B	-398.8M	0.68	3.32	N/A	N/A	1,063,198	727,042	4,359,410	3,689,183
2025-12-12	$456.85	$350.00	46.3%	13.5%	32.7%	4.9%	49.5%	-1.5%	0.9%	1.90B	-77.79B	-406.9M	0.57	3.18	N/A	N/A	2,809,054	1,608,709	4,408,505	3,740,826
2025-12-15	$478.38	$360.00	49.0%	14.1%	35.6%	9.0%	50.3%	-2.3%	-0.6%	1.71B	-89.49B	-413.5M	0.60	2.80	N/A	N/A	1,538,342	917,683	4,192,041	3,509,711
2025-12-16	$489.66	$360.00	50.2%	14.4%	35.9%	10.7%	51.2%	-2.1%	-0.6%	1.93B	-98.36B	-429.4M	0.50	3.09	N/A	N/A	1,753,936	885,018	4,335,620	3,670,214
2025-12-17	$469.23	$370.00	49.3%	14.1%	39.8%	9.4%	51.0%	-0.8%	-0.6%	1.34B	-79.64B	-420.5M	0.56	2.41	N/A	N/A	1,892,644	1,063,538	4,467,425	3,812,098
2025-12-18	$487.87	$370.00	48.1%	13.8%	41.3%	7.7%	49.7%	-1.2%	-0.5%	2.25B	-97.25B	-429.9M	0.66	2.56	N/A	N/A	1,697,985	1,112,594	4,624,443	3,877,168
2025-12-19	$482.10	$370.00	45.9%	13.2%	41.4%	4.3%	47.7%	-1.2%	-0.3%	1.55B	-90.27B	-423.9M	0.73	2.06	N/A	N/A	2,088,657	1,525,015	4,708,801	4,004,928
2025-12-22	$489.25	$370.00	45.5%	13.1%	40.8%	3.6%	47.2%	-1.1%	7.1%	1.51B	-79.48B	-425.4M	0.61	1.77	N/A	N/A	1,399,895	854,615	3,966,201	3,141,695
2025-12-23	$485.82	$375.00	42.7%	12.2%	37.4%	0.0%	44.4%	-1.5%	7.5%	1.41B	-75.31B	-418.3M	0.69	3.69	N/A	N/A	1,032,061	707,718	4,082,328	3,236,633
2025-12-24	$482.30	$375.00	41.3%	11.9%	37.7%	0.0%	42.7%	-1.0%	7.9%	1.21B	-71.95B	-413.3M	0.62	2.24	N/A	N/A	924,410	569,480	4,183,890	3,307,461
2025-12-26	$477.50	$380.00	43.8%	11.7%	38.0%	3.7%	42.3%	-0.9%	8.5%	1.01B	-67.92B	-407.2M	0.67	2.86	N/A	N/A	1,812,589	1,216,569	4,257,224	3,350,426
2025-12-29	$461.97	$380.00	47.8%	11.9%	40.4%	9.5%	42.6%	-1.0%	-0.1%	663.1M	-57.15B	-391.4M	0.76	2.36	N/A	N/A	945,610	720,945	3,835,652	3,106,831
2025-12-30	$455.76	$380.00	48.9%	11.9%	40.8%	11.2%	42.5%	-0.7%	-0.2%	473.6M	-52.87B	-389.0M	0.70	2.21	N/A	N/A	978,855	683,617	3,943,734	3,218,839
2025-12-31	$450.58	$380.00	48.8%	11.5%	41.1%	10.9%	41.3%	-0.7%	-0.1%	307.6M	-49.36B	-383.7M	0.75	2.37	N/A	N/A	889,648	664,480	4,038,231	3,277,554