UYG Options History — November 2025

In November 2025, UYG traded between $88.74 and $97.84. ATM implied volatility averaged 36.0%, placing in the 19.3% IV rank vs the trailing year. The 30-day expected move averaged 10.4%. IV traded above realized volatility by 5.5% (HV 20d: 30.5%). Max pain ranged from $75.00 to $95.00. Net GEX was positive for 19 of 19 trading days. Term structure was in contango for 11 of 19 days. Put/call ratio averaged 0.44.

Notable Days

2025-11-24: Highest Volume — 102 contracts
2025-11-12: Largest IV spike — 28.2% change
2025-11-18: Highest IV Rank — 25.4%
2025-11-18: Largest Expected Move — 12.0%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$93.03	$88.74	$97.84	$92.27	$95.91
Max Pain	$84.63	$75.00	$95.00	$95.00	$88.00
ATM IV	36.0%	25.6%	41.7%	39.2%	36.0%
Expected Move	10.4%	8.3%	12.0%	11.2%	10.3%
HV 20d	30.5%	26.7%	35.0%	34.3%	27.4%
HV 60d	27.5%	26.5%	28.8%	26.9%	28.4%
IV Rank	19.3%	8.1%	25.4%	22.7%	19.2%
IV Percentile	58.2%	6.7%	81.0%	73.0%	57.1%
Term Structure	0.0%	-4.4%	3.2%	1.4%	-4.4%
VWIV	34.8%	24.8%	46.0%	35.7%	28.1%
Skew 25d	10.7%	1.9%	18.3%	6.4%	15.6%
Skew 10d	7.2%	-10.9%	18.2%	11.1%	13.4%
Call IV 25d	29.8%	18.2%	41.1%	37.2%	23.7%
Put IV 25d	40.5%	31.6%	47.0%	43.7%	39.3%
Bid-Ask Spread %	99.96	91.17	110.67	101.31	104.75
Gamma HHI	0.11	0.08	0.14	0.14	0.14
Net GEX	49.4K	7.8K	98.5K	63.3K	41.0K
Net DEX	-690.5K	-1.1M	-262.0K	-793.1K	-827.8K
Net VEX	-3.7K	-4.3K	-3.1K	-4.2K	-3.6K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.44	0.00	4.62	0.00	0.00
Total Volume	16.263	0	102	1	3
Total OI	731.947	603	841	711	695

Daily Data (19 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
2025-11-03	$92.27	$95.00	39.2%	11.2%	34.3%	22.7%	35.7%	6.4%	1.4%	63.3K	-793.1K	-4.2K	0.00	101.31	N/A	N/A	1	0	578	133
2025-11-04	$93.41	$91.00	38.4%	11.0%	34.7%	21.8%	37.9%	12.7%	-2.2%	58.0K	-756.7K	-3.7K	0.00	101.15	N/A	N/A	4	0	579	133
2025-11-05	$94.27	$91.00	33.9%	9.7%	34.9%	17.0%	0.0%	3.6%	-1.2%	73.1K	-902.8K	-3.7K	0.00	110.67	N/A	N/A	0	0	581	133
2025-11-06	$93.34	$75.00	35.2%	9.2%	35.0%	18.4%	28.3%	13.2%	2.4%	60.0K	-762.4K	-3.6K	0.00	96.19	N/A	N/A	1	0	579	133
2025-11-07	$94.14	$75.00	35.5%	9.9%	32.6%	18.7%	34.1%	15.1%	2.5%	66.9K	-838.9K	-3.9K	0.00	91.17	N/A	N/A	2	0	579	133
2025-11-10	$95.13	$80.00	35.6%	10.1%	32.4%	18.8%	39.8%	13.1%	1.3%	71.2K	-873.8K	-3.3K	0.00	100.34	N/A	N/A	0	3	579	133
2025-11-11	$95.81	$81.00	25.6%	9.6%	31.9%	8.1%	0.0%	4.9%	2.1%	85.5K	-939.3K	-3.5K	0.00	104.05	N/A	N/A	0	9	579	135
2025-11-12	$97.84	$81.00	32.9%	9.4%	32.8%	15.9%	30.7%	15.7%	1.4%	98.5K	-1.1M	-3.7K	0.00	103.29	N/A	N/A	40	0	579	144
2025-11-13	$94.94	$81.00	37.6%	10.8%	26.9%	20.9%	31.0%	12.6%	-2.1%	77.9K	-962.5K	-3.9K	0.63	99.91	N/A	N/A	8	5	599	144
2025-11-14	$93.19	$81.00	39.0%	11.2%	26.7%	22.5%	0.0%	15.0%	0.9%	67.0K	-840.2K	-4.3K	0.00	95.99	N/A	N/A	0	0	605	149
2025-11-17	$89.44	$81.00	38.1%	10.9%	29.1%	21.5%	43.7%	1.9%	-1.8%	36.4K	-474.8K	-3.2K	0.00	97.52	N/A	N/A	4	0	605	149
2025-11-18	$89.44	$80.00	41.7%	12.0%	29.1%	25.4%	44.2%	5.8%	0.4%	31.7K	-434.6K	-3.1K	4.62	97.13	N/A	N/A	13	60	607	148
2025-11-19	$89.79	$88.00	39.8%	11.4%	28.7%	23.3%	27.8%	16.2%	-1.1%	13.3K	-262.0K	-3.8K	0.00	96.86	N/A	N/A	20	0	620	208
2025-11-20	$88.74	$88.00	38.9%	11.2%	28.7%	22.4%	0.0%	3.8%	2.2%	18.6K	-365.0K	-4.0K	0.00	95.97	N/A	N/A	6	0	630	208
2025-11-21	$90.27	$88.00	36.6%	10.5%	28.3%	19.9%	24.8%	17.9%	0.6%	18.9K	-363.0K	-3.9K	0.38	99.37	N/A	N/A	16	6	634	207
2025-11-24	$90.97	$88.00	36.3%	10.4%	28.4%	19.5%	46.0%	4.6%	-3.6%	7.8K	-318.8K	-3.3K	0.01	102.10	N/A	N/A	101	1	394	209
2025-11-25	$93.37	$88.00	35.5%	10.2%	29.9%	18.8%	28.1%	7.0%	-1.3%	20.4K	-529.4K	-3.5K	0.00	103.58	N/A	N/A	4	0	484	209
2025-11-26	$95.22	$88.00	29.1%	8.3%	27.6%	11.8%	0.0%	18.3%	3.2%	29.2K	-725.0K	-3.4K	1.00	97.86	N/A	N/A	1	1	484	209
2025-11-28	$95.91	$88.00	36.0%	10.3%	27.4%	19.2%	0.0%	15.6%	-4.4%	41.0K	-827.8K	-3.6K	0.00	104.75	N/A	N/A	3	0	485	210