UAN Options History — October 2025

In October 2025, UAN traded between $90.13 and $95.42. ATM implied volatility averaged 31.6%, placing in the 33.8% IV rank vs the trailing year. The 30-day expected move averaged 9.5%. IV traded above realized volatility by 14.7% (HV 20d: 16.8%). Max pain ranged from $70.00 to $85.00. Net GEX was positive for 23 of 23 trading days. Term structure was in contango for 8 of 23 days. Put/call ratio averaged 0.77.

Notable Days

  • 2025-10-17: Highest Volume — 907 contracts
  • 2025-10-08: Largest IV spike — 49.5% change
  • 2025-10-29: Highest IV Rank — 57.7%
  • 2025-10-29: Largest Expected Move — 12.4%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$92.47$90.13$95.42$90.40$94.67
Max Pain$77.17$70.00$85.00$85.00$85.00
ATM IV31.6%21.6%43.1%21.6%33.1%
Expected Move9.5%6.2%12.4%6.2%9.5%
HV 20d16.8%14.2%20.1%19.1%18.2%
HV 60d22.9%20.5%24.6%24.4%21.7%
IV Rank33.8%12.8%57.7%12.8%42.2%
IV Percentile49.4%11.1%86.9%11.1%56.0%
Term Structure-2.4%-12.1%11.3%11.3%-8.8%
VWIV33.3%21.5%48.8%21.5%24.7%
Skew 25d-1.3%-8.0%5.6%-1.9%-5.4%
Skew 10d10.2%-11.0%81.2%-11.0%81.2%
Call IV 25d32.6%21.6%40.2%21.6%32.2%
Put IV 25d31.2%19.7%39.8%19.7%26.7%
Bid-Ask Spread %98.9492.62111.26109.7897.56
Gamma HHI0.200.150.320.150.27
Net GEX557.5K235.6K973.4K524.5K844.7K
Net DEX-11.6M-14.6M-8.1M-11.0M-13.1M
Net VEX-32.8K-38.9K-24.1K-35.2K-28.2K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.770.014.754.750.01
Total Volume147.5221690723270
Total OI5,985.0435,5996,3755,9436,375

Daily Data (23 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2025-10-01$90.40$85.0021.6%6.2%19.1%12.8%21.5%-1.9%11.3%524.5K-11.0M-35.2K4.75109.78N/AN/A4195,370573
2025-10-02$92.10$85.0029.9%8.6%20.1%30.0%26.9%3.0%5.6%621.9K-12.1M-35.8K1.29111.26N/AN/A795,376589
2025-10-03$93.03$85.0023.1%6.6%19.9%15.8%23.1%-0.2%7.4%519.7K-13.0M-34.7K0.09104.01N/AN/A252235,383591
2025-10-06$93.77$70.0027.0%8.7%19.6%24.0%35.0%-2.5%-1.8%604.7K-13.8M-35.5K0.2694.40N/AN/A70185,317600
2025-10-07$93.93$70.0022.2%9.4%19.1%13.9%35.5%-8.0%-4.5%651.8K-14.6M-38.8K1.0093.60N/AN/A885,371612
2025-10-08$93.45$70.0033.1%10.2%18.8%36.8%36.1%-1.8%-3.6%596.7K-13.6M-36.5K0.9093.83N/AN/A29265,377615
2025-10-09$94.00$70.0026.6%9.3%18.6%23.2%38.5%-2.9%0.3%615.7K-14.2M-35.6K0.1096.16N/AN/A4955,393641
2025-10-10$92.84$70.0032.1%9.6%19.2%34.6%31.9%-3.2%3.0%598.2K-13.8M-38.9K0.1796.32N/AN/A2445,419643
2025-10-13$92.08$70.0031.0%10.1%19.2%32.4%36.0%-0.6%-6.1%531.2K-12.5M-33.3K0.38100.63N/AN/A71275,436647
2025-10-14$90.13$70.0029.1%10.2%14.5%28.4%34.7%-3.6%-3.5%397.9K-11.3M-32.4K2.2597.70N/AN/A8185,400653
2025-10-15$90.35$70.0032.0%9.2%14.3%34.4%33.3%-7.3%5.8%561.1K-11.3M-32.5K1.00100.09N/AN/A32325,406663
2025-10-16$90.16$70.0034.8%10.0%14.2%40.2%36.5%1.8%2.0%235.6K-11.2M-35.4K0.42100.43N/AN/A1985,430685
2025-10-17$90.92$70.0030.9%8.9%14.5%32.1%30.6%5.1%-0.3%339.1K-10.6M-24.8K0.0199.94N/AN/A90255,443680
2025-10-20$91.50$70.0033.9%9.7%14.4%38.5%34.2%4.4%-5.5%490.6K-8.1M-29.0K0.09101.77N/AN/A8885,025574
2025-10-21$91.75$70.0032.4%9.3%14.4%35.3%37.2%5.6%-3.1%518.6K-8.6M-30.5K2.7399.11N/AN/A511395,073582
2025-10-22$92.25$85.0035.1%10.1%14.3%40.8%34.8%-4.4%-10.3%508.6K-8.5M-30.8K0.1092.62N/AN/A2125,113718
2025-10-23$93.67$85.0037.0%10.6%15.2%44.9%25.9%-1.1%-12.1%551.7K-10.6M-31.1K1.50100.53N/AN/A12185,158720
2025-10-24$93.44$85.0038.4%11.0%15.2%47.8%25.3%4.8%-8.4%530.3K-10.4M-33.9K0.0597.96N/AN/A12765,161728
2025-10-27$92.77$85.0033.2%9.5%15.2%36.9%42.6%-6.4%3.9%541.9K-9.8M-31.0K0.0296.32N/AN/A18335,084728
2025-10-28$91.79$85.0039.6%11.4%15.5%50.3%42.4%4.2%-11.0%515.1K-9.7M-30.5K0.3996.89N/AN/A154605,182731
2025-10-29$92.38$85.0043.1%12.4%15.6%57.7%48.8%-7.6%-10.2%549.1K-10.6M-34.9K0.0398.94N/AN/A27785,300786
2025-10-30$95.42$85.0027.1%7.8%18.2%24.2%29.7%-2.5%-4.3%973.4K-14.4M-24.1K0.1295.79N/AN/A258315,516789
2025-10-31$94.67$85.0033.1%9.5%18.2%42.2%24.7%-5.4%-8.8%844.7K-13.1M-28.2K0.0197.56N/AN/A26735,565810