VSAT Options History — December 2025

In December 2025, VSAT traded between $32.33 and $38.45. ATM implied volatility averaged 77.4%, placing in the 21.9% IV rank vs the trailing year. The 30-day expected move averaged 22.2%. IV traded above realized volatility by 1.5% (HV 20d: 75.9%). Max pain ranged from $25.00 to $25.00. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 20 of 22 days. Put/call ratio averaged 0.58.

Notable Days

2025-12-08: Highest Volume — 10,918 contracts
2025-12-08: Largest IV drop — 11.9% change
2025-12-05: Highest IV Rank — 28.1%
2025-12-30: Largest Expected Move — 23.4%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$35.14	$32.33	$38.45	$32.98	$34.80
Max Pain	$25.00	$25.00	$25.00	$25.00	$25.00
ATM IV	77.4%	72.1%	81.9%	81.0%	79.2%
Expected Move	22.2%	20.8%	23.4%	23.2%	22.7%
HV 20d	75.9%	57.6%	86.2%	85.1%	58.0%
HV 60d	73.4%	70.5%	77.0%	77.0%	72.6%
IV Rank	21.9%	14.6%	28.1%	26.9%	24.4%
IV Percentile	30.6%	12.7%	50.4%	40.9%	40.5%
Term Structure	5.4%	-3.7%	9.9%	0.6%	5.2%
VWIV	80.9%	75.9%	88.3%	85.4%	82.4%
Skew 25d	5.6%	-3.4%	19.8%	-3.4%	19.8%
Skew 10d	11.5%	-3.5%	29.5%	4.1%	23.4%
Call IV 25d	78.7%	64.4%	86.3%	86.1%	80.8%
Put IV 25d	84.3%	77.4%	100.6%	82.8%	100.6%
Bid-Ask Spread %	69.79	61.31	83.06	73.87	83.06
Gamma HHI	0.31	0.23	0.38	0.32	0.34
Net GEX	1.9M	1.2M	2.5M	1.2M	2.0M
Net DEX	-113.8M	-162.6M	-87.6M	-92.2M	-96.7M
Net VEX	-280.3K	-314.5K	-237.9K	-280.3K	-237.9K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.58	0.02	1.52	0.22	0.04
Total Volume	2,086.318	206	10,918	643	4,008
Total OI	107,168.818	87,145	119,862	103,932	95,002

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
2025-12-01	$32.98	$25.00	81.0%	23.2%	85.1%	26.9%	85.4%	-3.4%	0.6%	1.2M	-92.2M	-280.3K	0.22	73.87	N/A	N/A	525	118	55,965	47,967
2025-12-02	$33.44	$25.00	81.2%	23.3%	85.4%	27.1%	88.3%	0.2%	-3.7%	1.4M	-94.3M	-282.4K	0.30	75.36	N/A	N/A	501	148	55,992	47,993
2025-12-03	$34.41	$25.00	80.9%	23.2%	86.1%	26.8%	83.3%	3.7%	-2.8%	1.5M	-103.1M	-282.7K	0.65	76.74	N/A	N/A	3,090	2,017	56,423	48,070
2025-12-04	$34.89	$25.00	75.1%	21.8%	86.2%	18.8%	83.8%	5.3%	9.3%	1.7M	-115.6M	-301.0K	0.54	61.77	N/A	N/A	134	72	59,481	50,071
2025-12-05	$35.27	$25.00	81.9%	21.6%	83.9%	28.1%	79.8%	8.4%	9.3%	1.8M	-115.7M	-291.7K	0.12	64.41	N/A	N/A	1,296	153	58,034	49,108
2025-12-08	$36.99	$25.00	72.1%	22.3%	85.7%	14.6%	81.6%	5.6%	9.5%	2.0M	-133.1M	-274.5K	0.02	64.28	N/A	N/A	10,711	207	58,963	49,185
2025-12-09	$36.47	$25.00	76.0%	21.4%	84.6%	20.0%	81.1%	9.9%	8.2%	2.2M	-136.8M	-314.5K	0.43	70.04	N/A	N/A	486	207	66,981	49,291
2025-12-10	$37.55	$25.00	74.6%	21.4%	84.6%	18.1%	77.1%	7.9%	8.1%	2.2M	-151.7M	-309.1K	0.09	67.20	N/A	N/A	1,526	139	67,067	49,394
2025-12-11	$38.45	$25.00	76.4%	21.9%	84.5%	20.6%	85.6%	1.4%	6.6%	2.5M	-162.6M	-314.2K	1.30	61.87	N/A	N/A	1,257	1,638	68,032	49,427
2025-12-12	$36.30	$25.00	77.5%	22.2%	85.5%	22.1%	76.5%	2.1%	5.8%	2.3M	-138.2M	-312.8K	0.46	65.09	N/A	N/A	533	245	67,965	50,968
2025-12-15	$35.39	$25.00	78.4%	22.5%	85.9%	23.3%	80.1%	4.8%	4.8%	2.2M	-124.8M	-298.8K	0.52	65.70	N/A	N/A	840	437	68,129	51,090
2025-12-16	$34.48	$25.00	78.2%	22.4%	80.4%	23.0%	80.5%	7.5%	8.1%	2.2M	-110.9M	-295.9K	0.73	64.78	N/A	N/A	309	226	68,097	51,558
2025-12-17	$32.33	$25.00	78.6%	22.5%	79.5%	23.6%	79.8%	2.3%	5.7%	1.5M	-87.6M	-269.3K	0.72	61.31	N/A	N/A	346	249	68,042	51,663
2025-12-18	$32.39	$25.00	77.1%	22.1%	79.6%	21.5%	78.2%	5.2%	7.0%	1.6M	-88.6M	-267.2K	0.39	65.14	N/A	N/A	374	147	68,118	51,744
2025-12-19	$33.62	$25.00	72.7%	20.8%	59.5%	15.4%	77.4%	5.4%	9.9%	1.9M	-98.4M	-262.7K	0.36	76.79	N/A	N/A	1,827	660	68,006	51,765
2025-12-22	$36.73	$25.00	75.1%	21.5%	66.4%	18.8%	76.7%	16.0%	6.5%	2.0M	-119.9M	-265.1K	1.52	73.46	N/A	N/A	2,694	4,093	56,125	31,020
2025-12-23	$36.52	$25.00	72.4%	20.8%	64.9%	15.0%	82.1%	4.6%	8.6%	2.1M	-119.5M	-277.3K	1.04	66.39	N/A	N/A	473	490	58,282	35,304
2025-12-24	$35.20	$25.00	74.0%	21.2%	66.2%	17.2%	75.9%	0.3%	6.0%	2.1M	-107.9M	-273.8K	1.43	71.09	N/A	N/A	395	566	58,520	35,555
2025-12-26	$34.66	$25.00	78.8%	22.6%	60.4%	23.8%	81.1%	6.8%	1.3%	2.0M	-100.3M	-256.9K	0.61	72.98	N/A	N/A	180	110	58,450	35,874
2025-12-29	$34.69	$25.00	79.3%	22.7%	58.7%	24.6%	80.1%	1.5%	3.9%	2.2M	-100.1M	-254.2K	0.68	74.85	N/A	N/A	854	583	58,404	35,949
2025-12-30	$35.44	$25.00	81.7%	23.4%	57.6%	27.8%	82.5%	7.7%	0.5%	2.2M	-104.7M	-244.4K	0.55	79.29	N/A	N/A	669	366	58,222	36,418
2025-12-31	$34.80	$25.00	79.2%	22.7%	58.0%	24.4%	82.4%	19.8%	5.2%	2.0M	-96.7M	-237.9K	0.04	83.06	N/A	N/A	3,846	162	58,256	36,746