TTD Options History — December 2025

In December 2025, TTD traded between $36.25 and $40.16. ATM implied volatility averaged 48.3%, placing in the 21.4% IV rank vs the trailing year. The 30-day expected move averaged 14.2%. IV traded above realized volatility by 11.7% (HV 20d: 36.6%). Max pain ranged from $42.50 to $50.00. Net GEX was positive for 3 of 22 trading days. Term structure was in contango for 18 of 22 days. Put/call ratio averaged 1.25.

Notable Days

2025-12-11: Highest Volume — 132,599 contracts
2025-12-11: Largest IV spike — 6.1% change
2025-12-01: Highest IV Rank — 27.3%
2025-12-01: Largest Expected Move — 15.9%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$38.21	$36.25	$40.16	$39.61	$38.14
Max Pain	$46.14	$42.50	$50.00	$45.00	$42.50
ATM IV	48.3%	44.1%	51.5%	50.9%	44.8%
Expected Move	14.2%	12.2%	15.9%	15.9%	12.2%
HV 20d	36.6%	31.1%	44.2%	41.5%	31.1%
HV 60d	42.1%	37.8%	50.1%	49.6%	37.8%
IV Rank	21.4%	14.3%	27.3%	27.3%	15.1%
IV Percentile	36.6%	20.6%	46.4%	44.0%	25.0%
Term Structure	1.6%	-2.7%	5.5%	2.2%	3.7%
VWIV	50.8%	44.4%	54.9%	54.7%	44.4%
Skew 25d	0.3%	-1.5%	3.1%	3.1%	-1.3%
Skew 10d	-0.7%	-7.2%	8.8%	8.8%	-2.0%
Call IV 25d	48.8%	45.0%	52.2%	49.8%	46.0%
Put IV 25d	49.1%	44.7%	52.8%	52.8%	44.7%
Bid-Ask Spread %	13.58	4.75	30.43	16.28	8.59
Gamma HHI	0.08	0.06	0.13	0.07	0.08
Net GEX	-2.6M	-7.0M	2.8M	-3.3M	-1.8M
Net DEX	268.1M	156.0M	403.4M	274.8M	192.6M
Net VEX	-4.9M	-5.2M	-4.5M	-4.9M	-4.8M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	1.25	0.73	2.57	0.73	2.10
Total Volume	55,821.591	33,329	132,599	42,094	64,295
Total OI	876,501	809,665	944,022	809,665	870,328

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	$39.61	$45.00	50.9%	15.9%	41.5%	27.3%	54.7%	3.1%	2.2%	-3.3M	274.8M	-4.9M	0.73	16.28	N/A	N/A	24,279	17,815	487,864	321,801
2025-12-02	$40.11	$45.00	49.7%	15.7%	42.1%	25.8%	54.9%	2.3%	1.8%	-1.5M	247.8M	-5.1M	0.80	14.18	N/A	N/A	20,445	16,292	499,858	329,864
2025-12-03	$38.68	$45.00	47.5%	15.2%	42.4%	22.7%	53.3%	-0.6%	3.3%	-4.6M	335.3M	-4.8M	0.87	24.84	N/A	N/A	21,100	18,392	510,158	333,523
2025-12-04	$39.23	$50.00	49.0%	14.7%	42.9%	24.5%	52.7%	0.5%	1.4%	-4.1M	299.9M	-5.0M	0.99	8.42	N/A	N/A	36,170	35,727	519,266	342,443
2025-12-05	$40.16	$50.00	48.1%	14.6%	44.2%	23.3%	53.0%	0.9%	0.5%	2.2M	214.0M	-5.2M	0.80	9.40	N/A	N/A	38,986	31,283	532,028	350,452
2025-12-08	$39.53	$50.00	50.8%	15.0%	36.5%	26.8%	53.2%	-0.4%	2.3%	-2.7M	254.8M	-5.1M	1.41	9.25	N/A	N/A	17,537	24,657	517,479	335,579
2025-12-09	$39.48	$50.00	48.7%	14.8%	36.5%	22.5%	53.1%	1.0%	3.1%	-3.0M	264.8M	-5.1M	1.07	7.71	N/A	N/A	16,372	17,565	525,232	340,253
2025-12-10	$39.42	$50.00	47.8%	14.6%	34.7%	21.2%	52.1%	0.6%	3.2%	-2.4M	262.0M	-5.1M	0.81	9.96	N/A	N/A	18,569	15,018	531,926	343,120
2025-12-11	$36.99	$50.00	50.7%	14.9%	40.3%	24.3%	54.1%	0.8%	1.8%	-7.0M	403.4M	-4.7M	1.98	4.75	N/A	N/A	44,529	88,070	539,942	346,475
2025-12-12	$36.73	$47.50	51.5%	15.1%	39.7%	25.3%	53.2%	0.7%	1.7%	-7.0M	378.9M	-4.7M	0.92	4.78	N/A	N/A	40,841	37,392	557,808	347,391
2025-12-15	$36.25	$47.50	51.2%	14.8%	39.3%	24.9%	52.1%	0.3%	-2.7%	-6.4M	378.6M	-4.5M	1.05	30.43	N/A	N/A	36,383	38,169	546,001	340,153
2025-12-16	$36.59	$45.00	49.7%	14.3%	37.2%	22.8%	51.9%	0.1%	-1.2%	-5.1M	354.9M	-4.6M	1.06	11.66	N/A	N/A	26,615	28,163	563,041	352,092
2025-12-17	$37.20	$45.00	51.1%	14.7%	36.9%	24.8%	51.8%	0.1%	-2.6%	-2.2M	279.8M	-4.8M	0.88	16.15	N/A	N/A	30,679	27,100	571,466	354,855
2025-12-18	$37.34	$45.00	49.6%	14.3%	36.9%	21.8%	54.2%	-0.3%	-1.1%	-1.7M	282.2M	-4.8M	1.80	24.08	N/A	N/A	23,692	42,645	576,709	360,975
2025-12-19	$37.13	$45.00	48.7%	13.9%	33.6%	20.5%	49.0%	-0.4%	1.1%	-3.6M	290.8M	-4.8M	0.92	18.09	N/A	N/A	33,370	30,539	582,502	361,520
2025-12-22	$37.33	$45.00	47.3%	13.7%	31.4%	18.6%	48.5%	1.3%	4.0%	-2.9M	238.3M	-4.8M	0.85	8.15	N/A	N/A	22,293	19,028	522,187	328,816
2025-12-23	$37.49	$45.00	45.5%	13.3%	31.1%	16.2%	46.8%	1.5%	1.9%	-1.9M	247.6M	-4.7M	1.63	10.85	N/A	N/A	17,903	29,246	529,370	332,298
2025-12-24	$38.06	$45.00	44.7%	13.1%	31.7%	15.0%	47.4%	-0.9%	2.1%	930.1K	193.1M	-4.9M	2.57	16.52	N/A	N/A	14,625	37,543	534,817	343,195
2025-12-26	$38.38	$42.50	45.6%	12.8%	31.9%	16.4%	45.8%	-0.3%	1.3%	2.8M	156.0M	-4.9M	0.90	13.61	N/A	N/A	22,363	20,183	539,889	343,255
2025-12-29	$38.53	$42.50	46.5%	13.1%	31.5%	17.5%	46.6%	-1.0%	3.1%	-772.7K	162.5M	-4.9M	0.80	16.85	N/A	N/A	18,541	14,788	522,198	332,942
2025-12-30	$38.25	$42.50	44.1%	12.5%	31.6%	14.3%	45.1%	-1.5%	5.5%	-1.0M	186.9M	-4.8M	2.54	14.23	N/A	N/A	13,819	35,054	526,197	335,754
2025-12-31	$38.14	$42.50	44.8%	12.2%	31.1%	15.1%	44.4%	-1.3%	3.7%	-1.8M	192.6M	-4.8M	2.10	8.59	N/A	N/A	20,755	43,540	529,465	340,863