VERX Options History — December 2025

In December 2025, VERX traded between $19.21 and $20.75. ATM implied volatility averaged 50.9%, placing in the 35.6% IV rank vs the trailing year. The 30-day expected move averaged 14.8%. IV traded above realized volatility by 21.1% (HV 20d: 29.7%). Max pain ranged from $20.00 to $21.00. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 19 of 22 days. Put/call ratio averaged 1.76.

Notable Days

  • 2025-12-31: Highest Volume — 1,018 contracts
  • 2025-12-29: Largest IV spike — 65.9% change
  • 2025-12-10: Highest IV Rank — 63.0%
  • 2025-12-10: Largest Expected Move — 20.2%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$19.91$19.21$20.75$19.24$19.99
Max Pain$20.77$20.00$21.00$21.00$20.00
ATM IV50.9%34.0%70.4%57.3%37.3%
Expected Move14.8%9.8%20.2%16.4%10.7%
HV 20d29.7%19.8%49.5%49.5%29.1%
HV 60d41.1%39.6%45.2%45.2%40.2%
IV Rank35.6%12.0%63.0%44.6%16.5%
IV Percentile55.5%11.5%88.9%76.2%19.4%
Term Structure6.7%-26.6%26.7%8.1%9.9%
VWIV50.1%35.8%88.9%58.2%37.8%
Skew 25d3.4%-25.1%44.9%3.7%-4.8%
Skew 10d2.8%-20.7%32.9%3.8%0.6%
Call IV 25d49.3%35.4%67.8%54.6%43.4%
Put IV 25d52.6%31.4%80.3%58.3%38.6%
Bid-Ask Spread %112.1095.67136.51108.65104.99
Gamma HHI0.210.120.510.120.27
Net GEX25.1K14.2K64.5K23.2K21.1K
Net DEX-389.2K-726.2K-82.7K-241.3K-569.7K
Net VEX-11.3K-13.2K-9.7K-13.2K-9.7K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.760.0011.000.670.02
Total Volume82.72701,018151,018
Total OI6,473.5454,2257,5897,2844,325

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2025-12-01$19.24$21.0057.3%16.4%49.5%44.6%58.2%3.7%8.1%23.2K-241.3K-13.2K0.67108.65N/AN/A966,294990
2025-12-02$19.21$21.0058.8%16.8%33.4%46.6%55.4%14.6%-26.6%15.1K-82.7K-11.5K2.00102.86N/AN/A7146,301993
2025-12-03$19.77$21.0050.9%14.6%32.6%35.6%51.0%7.1%10.1%20.5K-238.8K-12.4K0.29103.88N/AN/A114336,3071,008
2025-12-04$19.48$20.0053.2%16.5%32.8%38.8%50.1%7.5%0.3%23.1K-202.2K-12.0K0.04107.52N/AN/A12456,4161,015
2025-12-05$19.57$20.0048.3%14.2%29.0%31.9%47.9%-21.3%6.4%23.2K-239.6K-11.8K0.35108.11N/AN/A2076,5361,010
2025-12-08$19.29$20.0053.6%16.5%29.5%39.4%50.5%11.8%16.3%19.5K-169.5K-11.9K11.00105.21N/AN/A6666,5411,016
2025-12-09$19.62$21.0051.6%17.5%30.1%36.6%0.0%5.2%5.2%17.3K-118.5K-11.8K2.00112.93N/AN/A246,5401,049
2025-12-10$19.92$21.0070.4%20.2%30.3%63.0%88.9%-0.5%3.9%25.5K-214.4K-11.4K0.00118.06N/AN/A056,5381,045
2025-12-11$19.94$21.0046.5%13.3%20.9%29.5%0.0%-3.8%8.2%24.1K-260.3K-11.9K0.4395.67N/AN/A1466,5381,040
2025-12-12$19.85$21.0049.3%14.1%19.8%33.4%0.0%-11.3%8.6%25.2K-362.2K-11.9K5.10106.14N/AN/A10516,552981
2025-12-15$19.58$21.0064.2%18.4%20.1%54.2%0.0%10.3%-4.6%24.1K-194.5K-10.9K3.00124.69N/AN/A266,5621,006
2025-12-16$20.75$21.0051.2%14.7%28.9%36.0%0.0%18.6%0.9%37.4K-708.3K-12.1K4.00121.10N/AN/A5206,5631,008
2025-12-17$20.48$21.0048.9%14.0%29.2%32.8%0.0%-0.6%18.5%44.9K-545.4K-11.2K2.00111.83N/AN/A366,5661,020
2025-12-18$20.20$21.0047.2%13.5%29.4%30.4%46.7%-25.1%21.3%43.3K-339.1K-10.6K2.40114.68N/AN/A5126,5651,005
2025-12-19$20.06$21.0045.1%12.9%29.6%27.4%47.9%5.8%9.2%64.5K-403.8K-10.7K0.02114.56N/AN/A12726,570987
2025-12-22$20.34$21.0046.8%13.4%29.9%29.8%46.3%-2.8%-10.6%16.2K-674.3K-11.2K0.11116.03N/AN/A1823,755470
2025-12-23$20.02$21.0058.8%16.8%30.3%46.6%39.3%-1.9%5.0%16.3K-600.8K-10.9K0.00110.57N/AN/A023,773472
2025-12-24$20.10$21.0034.0%9.8%30.2%12.0%0.0%44.9%26.7%14.2K-500.3K-10.1K0.00136.51N/AN/A003,773472
2025-12-26$20.26$21.0036.6%10.5%30.2%15.6%35.8%0.7%10.6%15.8K-536.5K-10.3K0.00118.60N/AN/A603,773472
2025-12-29$20.30$21.0060.7%17.4%30.2%49.4%45.1%-7.1%8.7%17.2K-726.2K-11.1K0.06115.56N/AN/A7753,775472
2025-12-30$20.08$20.0048.5%13.9%29.0%32.3%0.0%23.3%10.1%21.0K-634.4K-10.2K0.00108.07N/AN/A103,849475
2025-12-31$19.99$20.0037.3%10.7%29.1%16.5%37.8%-4.8%9.9%21.1K-569.7K-9.7K0.02104.99N/AN/A1,000183,850475