UYG Options History — September 2025

In September 2025, UYG traded between $96.33 and $100.75. ATM implied volatility averaged 31.9%, placing in the 14.8% IV rank vs the trailing year. The 30-day expected move averaged 9.2%. IV traded above realized volatility by 7.2% (HV 20d: 24.7%). Max pain ranged from $80.00 to $93.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 13 of 21 days. Put/call ratio averaged 0.18.

Notable Days

  • 2025-09-16: Highest Volume — 101 contracts
  • 2025-09-05: Largest IV spike — 32.0% change
  • 2025-09-08: Highest IV Rank — 23.6%
  • 2025-09-23: Largest Expected Move — 10.8%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$98.74$96.33$100.75$98.27$99.04
Max Pain$90.43$80.00$93.00$80.00$93.00
ATM IV31.9%22.1%40.1%26.4%33.8%
Expected Move9.2%6.3%10.8%7.6%9.7%
HV 20d24.7%21.9%27.0%22.0%23.9%
HV 60d26.0%24.0%27.9%26.9%24.0%
IV Rank14.8%4.4%23.6%9.0%16.8%
IV Percentile42.4%2.0%78.6%11.5%51.6%
Term Structure1.6%-2.1%10.6%5.7%-1.7%
VWIV32.0%28.5%36.6%36.6%36.2%
Skew 25d9.9%1.6%19.9%2.3%13.1%
Skew 10d10.3%-6.4%20.5%2.6%19.7%
Call IV 25d25.3%19.9%36.1%28.9%24.2%
Put IV 25d35.2%27.1%42.5%31.2%37.4%
Bid-Ask Spread %99.8980.97114.23109.86105.04
Gamma HHI0.220.150.310.220.21
Net GEX160.5K97.2K212.9K173.3K138.0K
Net DEX-1.8M-2.3M-1.4M-1.8M-1.6M
Net VEX-5.2K-6.2K-4.2K-5.8K-5.9K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.180.001.001.000.00
Total Volume18.524010120
Total OI699.524483789740656

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2025-09-02$98.27$80.0026.4%7.6%22.0%9.0%0.0%2.3%5.7%173.3K-1.8M-5.8K1.00109.86N/AN/A11622118
2025-09-03$97.84$80.0022.1%6.3%21.9%4.4%0.0%1.9%10.6%174.4K-1.9M-5.7K0.00108.80N/AN/A00623119
2025-09-04$100.05$91.0026.4%9.6%22.9%9.0%0.0%12.5%-1.6%206.6K-2.3M-5.9K0.33104.38N/AN/A31623119
2025-09-05$96.63$91.0034.9%9.5%25.2%18.1%0.0%9.3%0.4%155.6K-1.7M-5.4K0.00102.59N/AN/A30624119
2025-09-08$96.33$91.0040.1%10.4%25.0%23.6%36.6%9.9%-1.8%146.2K-1.5M-4.9K1.0088.65N/AN/A11624119
2025-09-09$97.58$91.0029.1%9.1%25.3%11.8%34.0%19.9%1.7%161.5K-1.7M-4.9K0.0085.84N/AN/A10625120
2025-09-10$96.56$91.0034.7%9.9%24.7%17.8%0.0%11.6%2.2%149.4K-1.6M-4.8K0.0090.95N/AN/A00626120
2025-09-11$99.80$91.0030.6%8.8%27.0%13.4%28.5%14.2%3.8%193.4K-2.1M-4.3K0.0086.16N/AN/A50626120
2025-09-12$99.19$91.0031.4%9.0%27.0%14.3%31.3%7.9%2.3%191.0K-1.9M-4.8K0.0088.73N/AN/A100623120
2025-09-15$98.50$91.0032.5%9.3%26.2%15.5%0.0%10.1%-0.0%181.5K-2.1M-4.2K0.00101.39N/AN/A20628120
2025-09-16$98.12$91.0032.2%9.2%26.2%15.2%31.3%12.9%3.1%172.5K-1.8M-4.5K0.0199.63N/AN/A1001630120
2025-09-17$99.91$91.0032.5%9.3%26.9%15.4%32.6%8.3%0.4%212.9K-2.2M-5.0K0.00102.05N/AN/A450656120
2025-09-18$100.04$91.0032.5%9.3%26.4%15.5%32.3%11.5%-0.7%211.1K-2.2M-5.1K0.53103.77N/AN/A179661120
2025-09-19$100.75$90.0029.8%8.5%25.8%12.6%0.0%16.9%1.8%200.9K-2.2M-4.9K0.00106.83N/AN/A110662127
2025-09-22$100.29$90.0030.8%8.8%23.4%13.7%0.0%11.8%5.1%99.8K-1.4M-5.0K0.14104.52N/AN/A7140281
2025-09-23$99.18$93.0037.7%10.8%23.6%21.1%29.7%6.6%-0.4%97.2K-1.4M-5.1K0.0195.94N/AN/A83141383
2025-09-24$98.17$93.0035.3%10.1%23.7%18.5%29.2%5.1%0.9%114.6K-1.4M-5.2K0.01106.39N/AN/A72149482
2025-09-25$97.76$93.0036.7%10.5%23.3%20.0%0.0%1.6%-2.1%117.9K-1.5M-6.1K0.00114.23N/AN/A0056483
2025-09-26$99.25$93.0030.6%8.8%23.9%13.5%30.0%10.1%-1.6%135.9K-1.6M-6.2K0.0080.97N/AN/A7056483
2025-09-29$100.23$93.0029.8%8.5%24.2%12.5%36.2%9.2%6.3%136.0K-1.6M-5.9K0.00111.02N/AN/A5056883
2025-09-30$99.04$93.0033.8%9.7%23.9%16.8%0.0%13.1%-1.7%138.0K-1.6M-5.9K0.00105.04N/AN/A0057383