VERX Options History — November 2025

In November 2025, VERX traded between $19.20 and $20.73. ATM implied volatility averaged 61.6%, placing in the 50.5% IV rank vs the trailing year. The 30-day expected move averaged 16.6%. IV traded above realized volatility by 5.7% (HV 20d: 55.9%). Max pain ranged from $21.00 to $25.00. Net GEX was positive for 7 of 19 trading days. Term structure was in contango for 9 of 19 days. Put/call ratio averaged 7.96.

Notable Days

  • 2025-11-03: Highest Volume — 2,042 contracts
  • 2025-11-10: Largest IV spike — 68.5% change
  • 2025-11-10: Highest IV Rank — 96.0%
  • 2025-11-03: Largest Expected Move — 19.1%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$19.80$19.20$20.73$20.59$19.72
Max Pain$22.82$21.00$25.00$25.00$21.00
ATM IV61.6%52.2%94.0%66.7%52.2%
Expected Move16.6%15.0%19.1%19.1%15.0%
HV 20d55.9%49.6%61.5%53.6%49.6%
HV 60d46.0%45.0%47.3%45.0%45.0%
IV Rank50.5%37.5%96.0%57.7%37.5%
IV Percentile77.4%61.1%99.6%86.5%61.1%
Term Structure-0.6%-7.5%13.7%-7.5%-1.8%
VWIV58.3%47.5%73.9%64.4%55.9%
Skew 25d2.4%-9.4%20.9%20.9%2.9%
Skew 10d2.4%-32.3%59.7%59.7%-1.8%
Call IV 25d56.7%45.7%72.2%53.9%53.4%
Put IV 25d59.1%41.6%74.9%74.9%56.3%
Bid-Ask Spread %96.9491.49104.43101.07102.27
Gamma HHI0.280.110.520.310.13
Net GEX-28.7K-130.7K54.5K-14.0K22.8K
Net DEX2.1M-391.5K3.7M2.5M-237.0K
Net VEX-11.2K-18.2K-6.8K-18.2K-12.4K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio7.960.0065.000.986.00
Total Volume370.26352,0422,0425
Total OI12,988.6846,77715,14214,3997,279

Daily Data (19 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2025-11-03$20.59$25.0066.7%19.1%53.6%57.7%64.4%20.9%-7.5%-14.0K2.5M-18.2K0.98101.07N/AN/A1,0291,01310,5593,840
2025-11-04$19.82$25.0065.5%18.8%54.5%56.1%61.2%-2.2%-7.3%-30.5K3.4M-13.2K1.44101.66N/AN/A34950210,9753,572
2025-11-05$20.03$25.0060.6%17.4%54.3%49.2%62.7%5.2%-4.4%-59.7K3.5M-13.0K4.9896.02N/AN/A4823911,2683,705
2025-11-06$19.20$22.5071.6%18.3%55.4%64.7%58.1%-0.3%-6.7%-45.6K3.7M-12.6K18.6791.67N/AN/A2444811,2843,858
2025-11-07$19.22$22.5055.8%16.3%55.6%42.5%57.8%2.7%0.4%-47.9K3.5M-10.3K0.2693.35N/AN/A571511,2813,248
2025-11-10$19.29$22.5094.0%16.4%55.9%96.0%57.1%0.7%1.4%21.8K2.1M-13.0K2.1297.21N/AN/A347211,3233,248
2025-11-11$19.53$22.5084.1%16.1%56.1%82.1%57.5%3.1%-1.0%-69.4K3.4M-10.4K0.3595.12N/AN/A1675811,3443,269
2025-11-12$20.73$22.5057.6%16.5%61.5%45.0%57.0%-1.6%1.0%-74.2K2.1M-11.9K1.6891.57N/AN/A315211,5063,280
2025-11-13$20.31$22.5056.3%16.1%61.4%43.1%58.3%0.9%0.4%-86.6K2.5M-11.1K1.9391.49N/AN/A285411,5183,317
2025-11-14$20.14$22.5056.3%16.1%61.4%43.1%56.6%12.7%1.3%-130.7K2.7M-10.9K3.4894.60N/AN/A238011,5213,365
2025-11-17$19.94$22.5059.3%17.0%57.0%47.4%58.9%-1.8%-1.1%-95.8K2.9M-9.8K26.2092.16N/AN/A2052411,5293,371
2025-11-18$19.82$22.5057.2%16.4%56.1%44.4%57.9%-0.7%1.8%54.5K1.2M-11.2K65.0091.77N/AN/A852011,5392,871
2025-11-19$19.62$22.5058.3%16.7%56.0%46.0%73.9%1.1%-0.9%-36.3K2.3M-7.7K9.0096.19N/AN/A1911,5402,612
2025-11-20$19.63$22.5057.0%16.3%56.2%44.1%55.5%1.2%13.7%-38.7K2.6M-7.2K0.7395.76N/AN/A151111,5402,606
2025-11-21$19.70$22.5055.1%15.8%56.2%41.5%56.0%-1.6%-0.0%17.5K2.1M-6.8K0.01100.06N/AN/A872911,5372,242
2025-11-24$19.52$22.5055.7%16.0%55.7%42.3%47.5%-9.4%-7.1%19.6K10.1K-9.7K0.38104.04N/AN/A2185,794983
2025-11-25$19.71$22.5054.0%15.5%56.2%39.9%54.2%1.9%4.2%20.4K-47.0K-9.5K0.00101.49N/AN/A65925,800983
2025-11-26$19.62$22.5052.5%15.1%49.7%37.9%57.9%10.0%2.9%26.7K-391.5K-13.6K6.00104.43N/AN/A4246,295983
2025-11-28$19.72$21.0052.2%15.0%49.6%37.5%55.9%2.9%-1.8%22.8K-237.0K-12.4K0.00102.27N/AN/A056,294985