DIA Options History — May 2025

In May 2025, DIA traded between $409.26 and $427.61. ATM implied volatility averaged 15.5%, placing in the 19.6% IV rank vs the trailing year. The 30-day expected move averaged 4.5%. IV traded below realized volatility by 8.0% (HV 20d: 23.5%). Max pain ranged from $400.00 to $420.00. Net GEX was positive for 12 of 21 trading days. Term structure was in contango for 8 of 21 days. Put/call ratio averaged 1.20.

Notable Days

  • 2025-05-15: Highest Volume — 47,226 contracts
  • 2025-05-12: Largest IV drop — 17.0% change
  • 2025-05-06: Highest IV Rank — 28.0%
  • 2025-05-01: Largest Expected Move — 5.3%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$419.10$409.26$427.61$409.26$423.26
Max Pain$413.95$400.00$420.00$400.00$420.00
ATM IV15.5%13.2%18.1%17.9%14.3%
Expected Move4.5%3.8%5.3%5.3%4.2%
HV 20d23.5%12.9%46.0%46.0%14.6%
HV 60d29.1%28.7%29.4%28.7%29.2%
IV Rank19.6%12.6%28.0%27.3%13.9%
IV Percentile73.4%51.6%89.7%89.7%61.5%
Term Structure-0.0%-0.4%0.4%0.1%0.4%
VWIV16.6%13.8%21.0%20.2%16.0%
Skew 25d4.6%3.0%6.1%5.6%4.4%
Skew 10d9.6%6.2%12.1%11.1%9.4%
Call IV 25d13.6%12.0%15.5%15.3%12.5%
Put IV 25d18.2%15.0%21.6%20.9%16.9%
Bid-Ask Spread %6.865.029.106.677.23
Gamma HHI0.040.020.130.030.03
Net GEX38.7M-107.1M423.6M3.7M44.6M
Net DEX-288.4M-1.20B509.9M166.5M-432.1M
Net VEX-23.3M-25.3M-21.5M-21.5M-24.9M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.200.772.261.010.85
Total Volume31,007.52417,54047,22636,33624,316
Total OI427,211378,936469,812394,000469,812

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2025-05-01$409.26$400.0017.9%5.3%46.0%27.3%20.2%5.6%0.1%3.7M166.5M-21.5M1.016.6718,10918,227165,325228,675
2025-05-02$413.19$402.0016.9%4.9%43.8%24.2%18.6%5.4%0.2%44.9M-302.4M-22.0M1.276.4213,98117,727174,783235,322
2025-05-05$412.86$410.0017.5%5.0%40.4%25.9%21.0%5.7%-0.0%-3.6M97.3M-22.0M2.265.237,68617,350158,383220,553
2025-05-06$409.51$410.0018.1%5.2%39.0%28.0%19.6%6.1%-0.1%-48.0M509.9M-22.8M1.046.4410,09510,544161,490231,783
2025-05-07$411.81$410.0017.8%5.1%38.4%26.9%20.4%5.7%-0.0%-22.2M245.2M-22.6M1.299.109,39512,115164,279233,636
2025-05-08$415.30$411.0017.1%4.9%25.2%24.8%20.0%5.1%0.0%25.2M-190.2M-22.6M1.098.8220,71722,570165,711237,666
2025-05-09$412.47$411.0017.2%4.9%22.5%25.0%17.3%4.7%0.1%-45.9M143.5M-22.5M1.638.4312,05519,692174,910244,452
2025-05-12$423.08$411.0014.3%4.1%22.5%16.0%17.5%3.9%-0.1%103.4M-920.3M-21.6M2.119.0014,28030,199164,504236,303
2025-05-13$422.78$412.0013.5%3.9%22.2%13.5%13.8%3.1%-0.0%72.3M-698.4M-22.1M1.007.3417,23117,261167,262254,758
2025-05-14$420.48$412.0014.3%4.1%22.1%16.1%15.3%3.4%-0.0%46.1M-463.5M-22.5M0.776.9217,12313,103174,438262,988
2025-05-15$423.18$413.0013.9%4.0%20.2%14.7%15.3%3.2%0.1%177.1M-926.5M-22.8M0.897.5624,98522,241184,107268,170
2025-05-16$426.06$416.0013.2%3.8%19.8%12.6%14.1%3.0%0.1%423.6M-1.20B-23.2M0.835.0219,99516,645185,319276,879
2025-05-19$427.61$418.0013.8%4.0%15.3%14.6%13.8%3.8%0.4%113.6M-1.04B-23.4M1.325.8812,25816,150160,130254,514
2025-05-20$426.37$419.0014.3%4.1%12.9%16.0%14.5%4.0%-0.2%93.4M-848.9M-23.6M1.355.197,45310,087162,224262,568
2025-05-21$419.41$419.0016.2%4.6%14.7%21.8%15.1%5.4%-0.3%-73.4M243.1M-24.5M0.937.4722,08820,639165,002267,202
2025-05-22$419.94$419.0015.6%4.5%14.1%19.6%15.5%5.0%-0.2%-59.4M31.9M-24.9M0.846.1216,88314,131176,272272,769
2025-05-23$417.00$420.0017.0%4.9%14.5%24.1%16.1%5.9%-0.3%-107.1M427.6M-25.3M1.356.3615,35620,715185,334273,854
2025-05-27$423.38$420.0014.5%4.2%15.2%15.4%15.2%4.6%-0.4%37.4M-427.9M-24.7M1.155.6311,47213,228167,542273,522
2025-05-28$421.64$420.0014.7%4.3%15.2%16.1%14.5%4.5%-0.3%-11.8M-208.8M-24.8M1.257.168,55510,710170,317281,399
2025-05-29$422.42$420.0014.4%4.2%15.1%15.2%14.8%4.3%-0.4%-1.2M-265.7M-24.8M1.056.0711,59512,196172,264285,010
2025-05-30$423.26$420.0014.3%4.2%14.6%13.9%16.0%4.4%0.4%44.6M-432.1M-24.9M0.857.2313,17611,140181,212288,600