VNET Options History — November 2025

In November 2025, VNET traded between $8.29 and $10.05. ATM implied volatility averaged 99.9%, placing in the 33.7% IV rank vs the trailing year. The 30-day expected move averaged 27.5%. IV traded above realized volatility by 21.9% (HV 20d: 78.0%). Max pain ranged from $8.00 to $10.00. Net GEX was positive for 18 of 19 trading days. Term structure was in contango for 4 of 19 days. Put/call ratio averaged 0.98.

Notable Days

  • 2025-11-14: Highest Volume — 34,069 contracts
  • 2025-11-12: Largest IV drop — 20.5% change
  • 2025-11-11: Highest IV Rank — 65.6%
  • 2025-11-04: Largest Expected Move — 32.4%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$9.12$8.29$10.05$10.05$8.88
Max Pain$8.32$8.00$10.00$10.00$8.00
ATM IV99.9%75.3%133.1%107.0%75.6%
Expected Move27.5%21.6%32.4%30.7%21.7%
HV 20d78.0%62.6%97.2%93.1%62.6%
HV 60d88.3%84.8%92.0%87.1%84.8%
IV Rank33.7%8.8%65.6%48.9%9.1%
IV Percentile60.7%7.9%98.4%81.7%9.1%
Term Structure-6.9%-16.5%4.3%-9.2%0.4%
VWIV96.7%75.6%112.7%112.5%75.6%
Skew 25d-6.2%-15.6%2.3%-3.3%0.2%
Skew 10d-20.6%-66.2%9.9%-8.2%-33.9%
Call IV 25d100.1%66.6%112.8%108.5%66.6%
Put IV 25d93.9%66.8%110.9%105.2%66.8%
Bid-Ask Spread %71.7058.5087.6084.5784.23
Gamma HHI0.180.140.390.160.17
Net GEX290.3K-222.4K482.7K482.7K339.8K
Net DEX-23.0M-36.1M-8.4M-36.1M-19.9M
Net VEX-162.9K-189.4K-131.5K-162.7K-167.9K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.980.053.282.530.20
Total Volume4,514.73723034,0692,537230
Total OI144,668.263131,635172,896131,635137,940

Daily Data (19 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2025-11-03$10.05$10.00107.0%30.7%93.1%48.9%112.5%-3.3%-9.2%482.7K-36.1M-162.7K2.5384.57N/AN/A7181,81997,35634,279
2025-11-04$9.29$10.00113.1%32.4%95.2%47.1%112.7%-5.6%-15.1%307.7K-25.1M-151.7K0.9178.53N/AN/A28525897,69935,783
2025-11-05$9.79$10.00102.8%29.5%97.2%37.2%100.2%2.3%-8.5%421.2K-31.1M-159.3K0.4583.80N/AN/A2,3791,07297,75836,034
2025-11-06$10.03$8.00112.8%27.3%96.8%46.9%100.1%-6.7%0.7%462.0K-35.5M-165.2K0.1558.50N/AN/A76311299,30736,558
2025-11-07$9.46$8.00107.2%28.7%85.9%40.3%100.2%-5.7%-5.5%345.4K-27.4M-156.4K2.5860.24N/AN/A1,5554,01999,19736,579
2025-11-10$9.70$8.00124.1%29.2%75.1%56.9%99.9%-12.4%-8.1%445.6K-31.9M-151.3K0.3759.52N/AN/A1,03838899,87234,352
2025-11-11$9.91$8.00133.1%29.0%74.2%65.6%106.6%-9.3%-10.6%474.2K-33.3M-152.8K0.1461.09N/AN/A1,036146100,16034,599
2025-11-12$9.11$8.00105.8%30.3%78.7%38.8%102.1%-15.6%-9.1%307.1K-23.3M-139.0K0.0566.19N/AN/A3,291152100,29134,748
2025-11-13$8.89$8.00102.0%29.3%77.0%35.1%101.9%-11.1%-9.3%251.2K-19.9M-132.7K0.2167.28N/AN/A3,060648100,34734,885
2025-11-14$8.86$8.00106.0%30.4%75.8%38.9%105.5%-4.1%-11.0%244.0K-19.2M-131.5K1.1868.59N/AN/A15,63018,439101,31134,841
2025-11-17$8.55$8.00100.4%28.8%72.0%33.4%98.9%-11.1%-10.7%161.4K-16.1M-189.4K0.8869.19N/AN/A564494115,98353,234
2025-11-18$8.75$8.00101.9%29.2%72.7%34.9%103.3%-4.7%-13.3%160.4K-17.5M-188.8K0.2170.33N/AN/A824169116,36453,286
2025-11-19$8.41$8.0098.4%28.2%73.1%31.5%101.4%-6.4%-16.5%59.8K-13.8M-177.9K3.2874.74N/AN/A8442,768116,75953,308
2025-11-20$8.29$8.0087.8%25.2%71.9%21.1%88.6%-3.1%-6.2%-222.4K-8.4M-171.4K0.2073.78N/AN/A2,583509117,22055,676
2025-11-21$8.40$8.0084.7%24.3%71.4%18.1%82.9%-2.6%-3.1%239.3K-14.1M-171.2K2.3387.60N/AN/A4,50710,482118,18954,495
2025-11-24$8.91$8.0081.6%23.4%72.8%15.0%82.9%-9.3%-3.8%328.1K-21.0M-174.1K0.5971.98N/AN/A1,8811,10196,20539,928
2025-11-25$9.00$8.0078.9%22.6%72.8%12.3%82.7%-6.1%4.3%354.2K-23.1M-177.9K0.5166.59N/AN/A1,10255797,10639,522
2025-11-26$8.92$8.0075.3%21.6%64.3%8.8%79.1%-3.2%3.9%354.1K-20.5M-173.1K1.9375.55N/AN/A12223597,81539,711
2025-11-28$8.88$8.0075.6%21.7%62.6%9.1%75.6%0.2%0.4%339.8K-19.9M-167.9K0.2084.23N/AN/A1923898,05039,890