VZ Options History — December 2025

In December 2025, VZ traded between $39.86 and $41.78. ATM implied volatility averaged 18.6%, placing in the 13.7% IV rank vs the trailing year. The 30-day expected move averaged 5.6%. IV traded above realized volatility by 0.9% (HV 20d: 17.7%). Max pain ranged from $40.00 to $41.00. Net GEX was positive for 18 of 22 trading days. Term structure was in contango for 12 of 22 days. Put/call ratio averaged 0.42.

Notable Days

2025-12-09: Highest Volume — 103,208 contracts
2025-12-29: Largest IV spike — 12.5% change
2025-12-31: Highest IV Rank — 26.0%
2025-12-10: Largest Expected Move — 6.1%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$40.60	$39.86	$41.78	$40.75	$40.88
Max Pain	$40.52	$40.00	$41.00	$40.00	$40.00
ATM IV	18.6%	15.7%	21.8%	15.9%	21.8%
Expected Move	5.6%	5.0%	6.1%	5.2%	5.3%
HV 20d	17.7%	16.1%	20.2%	16.8%	16.1%
HV 60d	22.2%	19.0%	22.7%	22.3%	19.0%
IV Rank	13.7%	2.5%	26.0%	3.1%	26.0%
IV Percentile	33.7%	4.0%	70.6%	6.0%	70.6%
Term Structure	1.0%	-4.2%	4.3%	2.4%	-0.6%
VWIV	18.9%	16.7%	20.5%	17.7%	17.5%
Skew 25d	1.6%	0.4%	3.0%	3.0%	1.3%
Skew 10d	3.5%	0.6%	7.3%	4.4%	1.1%
Call IV 25d	17.6%	14.8%	21.8%	14.8%	21.4%
Put IV 25d	19.2%	16.8%	23.3%	17.8%	22.7%
Bid-Ask Spread %	22.70	11.42	42.16	40.53	18.55
Gamma HHI	0.12	0.09	0.17	0.10	0.15
Net GEX	21.0M	-13.1M	54.6M	24.4M	40.0M
Net DEX	-51.7M	-438.9M	200.2M	-66.7M	-171.6M
Net VEX	-5.5M	-5.9M	-5.1M	-5.7M	-5.2M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.42	0.21	0.86	0.42	0.40
Total Volume	49,745.682	24,706	103,208	36,610	37,264
Total OI	1,120,191.455	1,042,900	1,171,189	1,042,900	1,156,361

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	$40.75	$40.00	15.9%	5.2%	16.8%	3.1%	17.7%	3.0%	2.4%	24.4M	-66.7M	-5.7M	0.42	40.53	N/A	N/A	25,809	10,801	592,129	450,771
2025-12-02	$40.70	$40.00	16.8%	5.1%	16.3%	6.8%	17.4%	1.9%	-4.2%	21.7M	-55.3M	-5.7M	0.24	38.36	N/A	N/A	34,106	8,123	603,649	457,388
2025-12-03	$40.75	$40.50	16.4%	5.0%	16.3%	5.2%	16.7%	2.0%	3.3%	23.9M	-70.3M	-5.6M	0.21	27.07	N/A	N/A	33,905	7,048	612,680	460,718
2025-12-04	$41.22	$41.00	16.1%	5.6%	16.4%	3.8%	19.0%	1.6%	-1.1%	46.1M	-227.5M	-5.8M	0.42	27.16	N/A	N/A	32,472	13,492	623,533	462,578
2025-12-05	$41.78	$41.00	15.7%	5.4%	16.9%	2.5%	18.2%	1.7%	1.1%	54.6M	-438.9M	-5.9M	0.23	32.02	N/A	N/A	58,104	13,567	630,992	462,478
2025-12-08	$41.30	$41.00	17.2%	5.7%	17.6%	8.2%	19.3%	1.1%	4.3%	39.3M	-240.2M	-5.6M	0.34	16.72	N/A	N/A	31,258	10,676	611,677	454,376
2025-12-09	$40.23	$41.00	18.3%	6.1%	20.2%	12.6%	20.4%	2.0%	3.0%	7.8M	81.4M	-5.5M	0.66	34.41	N/A	N/A	62,149	41,059	623,605	461,040
2025-12-10	$39.86	$41.00	18.0%	6.1%	18.4%	11.4%	20.5%	1.2%	2.8%	-9.1M	200.2M	-5.5M	0.50	42.16	N/A	N/A	52,908	26,650	646,037	480,634
2025-12-11	$40.25	$40.00	18.8%	5.9%	18.8%	14.2%	19.8%	1.3%	2.5%	5.3M	70.6M	-5.7M	0.32	14.23	N/A	N/A	44,647	14,382	668,617	488,300
2025-12-12	$40.84	$40.00	18.0%	5.7%	19.3%	11.3%	19.0%	1.6%	2.4%	31.5M	-148.0M	-5.9M	0.23	20.71	N/A	N/A	45,951	10,740	681,066	490,123
2025-12-15	$41.00	$41.00	19.1%	5.7%	19.3%	15.6%	20.1%	2.1%	-1.3%	36.6M	-190.9M	-5.7M	0.38	25.58	N/A	N/A	33,187	12,641	659,824	476,843
2025-12-16	$40.75	$41.00	19.5%	5.7%	19.4%	17.0%	18.8%	2.2%	-0.4%	28.2M	-98.8M	-5.6M	0.48	12.68	N/A	N/A	26,007	12,532	665,360	479,156
2025-12-17	$40.75	$41.00	20.4%	5.9%	18.9%	20.6%	19.7%	2.0%	-1.2%	25.2M	-92.1M	-5.5M	0.23	21.45	N/A	N/A	32,666	7,459	664,304	482,940
2025-12-18	$40.53	$41.00	19.8%	5.7%	19.0%	18.2%	19.6%	1.5%	-0.8%	18.7M	-29.7M	-5.4M	0.41	13.13	N/A	N/A	26,092	10,589	679,897	484,327
2025-12-19	$39.95	$41.00	19.6%	5.7%	19.5%	17.7%	19.8%	0.4%	-1.0%	-13.1M	165.0M	-5.2M	0.78	11.42	N/A	N/A	46,497	36,444	684,652	484,448
2025-12-22	$39.97	$41.00	19.3%	5.7%	19.1%	16.3%	19.7%	1.3%	3.0%	-1.4M	138.5M	-5.2M	0.43	13.71	N/A	N/A	36,108	15,631	634,785	462,734
2025-12-23	$39.92	$40.00	18.6%	5.6%	16.4%	13.7%	19.1%	2.2%	3.6%	-395.0K	136.6M	-5.3M	0.54	22.97	N/A	N/A	22,854	12,411	649,521	469,621
2025-12-24	$40.23	$40.00	17.8%	5.4%	16.3%	10.6%	18.0%	0.4%	3.2%	7.4M	41.9M	-5.2M	0.37	14.83	N/A	N/A	17,994	6,712	659,463	477,254
2025-12-26	$40.42	$40.00	19.3%	5.3%	16.2%	16.5%	18.6%	1.6%	3.6%	26.9M	-14.0M	-5.3M	0.34	18.58	N/A	N/A	32,847	11,119	665,234	480,337
2025-12-29	$40.47	$40.00	21.8%	5.6%	16.1%	25.8%	18.7%	0.9%	-1.8%	19.1M	-20.5M	-5.2M	0.86	15.05	N/A	N/A	25,867	22,328	650,710	470,107
2025-12-30	$40.75	$40.00	21.3%	5.3%	16.1%	24.2%	18.2%	1.5%	-1.0%	29.6M	-108.0M	-5.1M	0.50	18.12	N/A	N/A	20,821	10,488	659,026	484,917
2025-12-31	$40.88	$40.00	21.8%	5.3%	16.1%	26.0%	17.5%	1.3%	-0.6%	40.0M	-171.6M	-5.2M	0.40	18.55	N/A	N/A	26,585	10,679	666,861	489,500