VNET Options History — July 2025

In July 2025, VNET traded between $6.55 and $9.02. ATM implied volatility averaged 90.5%, placing in the 35.1% IV rank vs the trailing year. The 30-day expected move averaged 26.0%. IV traded below realized volatility by 7.7% (HV 20d: 98.2%). Max pain ranged from $5.00 to $7.00. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 21 of 22 days. Put/call ratio averaged 0.16.

Notable Days

2025-07-15: Highest Volume — 42,913 contracts
2025-07-02: Largest IV drop — 16.5% change
2025-07-14: Highest IV Rank — 40.6%
2025-07-14: Largest Expected Move — 27.8%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$8.03	$6.55	$9.02	$6.55	$8.23
Max Pain	$6.45	$5.00	$7.00	$5.00	$7.00
ATM IV	90.5%	80.7%	97.1%	96.6%	86.2%
Expected Move	26.0%	23.1%	27.8%	27.7%	24.7%
HV 20d	98.2%	81.8%	112.7%	81.8%	91.3%
HV 60d	100.5%	96.7%	104.8%	104.8%	96.8%
IV Rank	35.1%	26.9%	40.6%	40.2%	31.5%
IV Percentile	55.7%	29.4%	75.0%	74.2%	40.1%
Term Structure	5.6%	-2.4%	12.9%	-2.4%	12.9%
VWIV	91.5%	83.5%	97.7%	83.7%	95.8%
Skew 25d	-13.9%	-36.1%	-3.0%	-21.7%	-18.1%
Skew 10d	-17.6%	-44.0%	36.4%	-41.4%	-37.4%
Call IV 25d	99.1%	87.5%	104.5%	103.1%	100.4%
Put IV 25d	85.2%	66.7%	94.8%	81.4%	82.3%
Bid-Ask Spread %	59.03	45.25	76.39	65.54	63.34
Gamma HHI	0.31	0.22	0.82	0.22	0.24
Net GEX	556.6K	208.9K	3.3M	208.9K	302.8K
Net DEX	-27.2M	-48.3M	-12.6M	-12.6M	-22.9M
Net VEX	-68.3K	-77.1K	-56.5K	-56.5K	-68.4K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.16	0.00	0.72	0.07	0.23
Total Volume	8,446.955	813	42,913	5,166	3,314
Total OI	93,969.864	80,547	115,150	80,547	89,336

Daily Data (22 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
2025-07-01	$6.55	$5.00	96.6%	27.7%	81.8%	40.2%	83.7%	-21.7%	-2.4%	208.9K	-12.6M	-56.5K	0.07	65.54	N/A	N/A	4,843	323	57,648	22,899
2025-07-02	$7.08	$5.00	80.7%	23.1%	85.3%	26.9%	83.5%	-14.2%	9.6%	305.4K	-16.7M	-57.9K	0.12	69.04	N/A	N/A	4,768	574	58,442	22,988
2025-07-03	$7.69	$6.00	92.3%	26.3%	87.9%	36.6%	91.2%	-10.5%	3.0%	362.8K	-21.2M	-60.3K	0.04	45.53	N/A	N/A	7,292	312	57,830	23,257
2025-07-07	$7.50	$6.00	87.3%	26.6%	88.8%	32.4%	94.7%	-6.8%	4.5%	387.0K	-21.0M	-61.9K	0.01	53.23	N/A	N/A	7,724	85	62,236	23,505
2025-07-08	$7.55	$6.00	96.0%	26.9%	88.3%	39.7%	94.2%	-11.6%	3.7%	440.0K	-22.8M	-63.8K	0.04	52.01	N/A	N/A	15,218	535	65,117	23,543
2025-07-09	$7.16	$6.00	88.8%	25.5%	90.8%	33.7%	94.7%	-9.4%	6.3%	507.0K	-22.1M	-68.6K	0.06	55.19	N/A	N/A	6,140	391	76,212	23,428
2025-07-10	$6.94	$6.00	90.5%	26.0%	91.5%	35.1%	92.6%	-18.2%	5.7%	503.7K	-20.0M	-65.7K	0.08	58.34	N/A	N/A	4,117	323	78,537	23,716
2025-07-11	$7.96	$6.00	93.0%	26.7%	102.3%	37.1%	91.7%	-3.0%	2.6%	665.0K	-34.8M	-72.1K	0.04	65.90	N/A	N/A	18,483	807	79,805	23,749
2025-07-14	$7.97	$6.00	97.1%	27.8%	100.5%	40.6%	97.7%	-8.6%	2.3%	646.7K	-34.6M	-69.4K	0.08	50.22	N/A	N/A	7,632	601	78,849	24,159
2025-07-15	$9.00	$6.00	94.7%	27.2%	102.5%	38.6%	87.7%	-14.7%	4.7%	640.1K	-48.3M	-70.2K	0.34	50.21	N/A	N/A	31,981	10,932	78,947	24,234
2025-07-16	$8.77	$7.00	94.7%	27.2%	103.9%	38.6%	91.9%	-12.4%	8.2%	592.5K	-38.9M	-77.1K	0.42	45.25	N/A	N/A	6,615	2,790	76,056	33,552
2025-07-17	$8.79	$7.00	91.2%	26.2%	102.8%	35.7%	89.7%	-11.3%	8.4%	767.5K	-40.6M	-75.7K	0.06	55.90	N/A	N/A	7,816	492	79,763	35,387
2025-07-18	$9.02	$7.00	93.2%	26.7%	102.3%	37.3%	93.9%	-15.6%	3.5%	3.3M	-43.1M	-73.5K	0.08	65.16	N/A	N/A	7,729	584	77,133	35,406
2025-07-21	$8.36	$7.00	82.6%	23.7%	107.9%	28.5%	93.4%	-20.2%	10.7%	328.0K	-26.2M	-71.7K	0.26	48.74	N/A	N/A	2,732	722	60,579	26,309
2025-07-22	$8.07	$7.00	86.6%	24.8%	109.6%	31.8%	87.6%	-16.5%	8.1%	317.5K	-22.8M	-70.9K	0.19	53.85	N/A	N/A	3,203	603	61,378	26,838
2025-07-23	$8.77	$7.00	96.9%	27.8%	110.3%	40.4%	93.8%	-5.8%	4.7%	339.9K	-29.6M	-72.2K	0.15	49.41	N/A	N/A	3,340	499	60,819	27,168
2025-07-24	$8.38	$7.00	89.8%	25.8%	112.7%	34.5%	91.5%	-36.1%	3.1%	334.9K	-26.0M	-71.9K	0.32	69.63	N/A	N/A	3,048	964	61,799	27,551
2025-07-25	$8.27	$7.00	88.7%	25.4%	112.4%	33.6%	94.6%	-9.9%	4.8%	321.4K	-23.9M	-71.0K	0.72	67.49	N/A	N/A	1,012	724	60,720	28,345
2025-07-28	$8.32	$7.00	86.3%	24.7%	96.2%	31.5%	90.4%	-16.7%	10.0%	345.0K	-24.5M	-68.4K	0.07	68.37	N/A	N/A	760	53	60,732	29,036
2025-07-29	$8.26	$7.00	89.9%	25.8%	96.0%	34.6%	89.9%	-13.6%	3.3%	341.4K	-23.7M	-68.0K	0.19	76.39	N/A	N/A	2,440	453	60,970	29,064
2025-07-30	$8.02	$7.00	88.0%	25.2%	94.5%	33.0%	88.6%	-11.5%	5.2%	315.0K	-21.1M	-66.9K	0.00	70.01	N/A	N/A	12,813	46	61,208	29,087
2025-07-31	$8.23	$7.00	86.2%	24.7%	91.3%	31.5%	95.8%	-18.1%	12.9%	302.8K	-22.9M	-68.4K	0.23	63.34	N/A	N/A	2,689	625	60,211	29,125