EEM Options History — March 2025

In March 2025, EEM traded between $42.73 and $45.36. ATM implied volatility averaged 18.1%, placing in the 44.8% IV rank vs the trailing year. The 30-day expected move averaged 5.3%. IV traded below realized volatility by 2.0% (HV 20d: 20.2%). Max pain ranged from $42.00 to $44.50. Net GEX was positive for 17 of 21 trading days. Term structure was in contango for 7 of 21 days. Put/call ratio averaged 1.12.

Notable Days

2025-03-19: Highest Volume — 424,876 contracts
2025-03-11: Largest IV spike — 32.7% change
2025-03-11: Highest IV Rank — 69.5%
2025-03-10: Largest Expected Move — 6.8%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$44.27	$42.73	$45.36	$42.73	$43.72
Max Pain	$43.29	$42.00	$44.50	$42.00	$44.50
ATM IV	18.1%	15.5%	21.5%	18.6%	16.7%
Expected Move	5.3%	2.7%	6.8%	5.8%	5.0%
HV 20d	20.2%	15.7%	22.1%	15.7%	20.4%
HV 60d	16.5%	15.3%	17.4%	15.3%	16.8%
IV Rank	44.8%	25.5%	69.5%	47.8%	34.1%
IV Percentile	76.9%	54.0%	94.8%	84.5%	65.5%
Term Structure	-0.3%	-8.1%	9.6%	0.6%	0.6%
VWIV	19.5%	15.5%	24.3%	21.6%	16.8%
Skew 25d	2.3%	-7.0%	4.6%	4.0%	-7.0%
Skew 10d	5.0%	-6.4%	12.1%	2.7%	-6.4%
Call IV 25d	17.8%	14.9%	25.6%	17.2%	25.6%
Put IV 25d	20.1%	13.6%	24.8%	21.2%	18.6%
Bid-Ask Spread %	56.16	7.43	83.30	69.75	57.75
Gamma HHI	0.10	0.08	0.14	0.08	0.08
Net GEX	122.0M	-71.6M	396.0M	-68.0M	-71.6M
Net DEX	-1.10B	-3.88B	1.37B	1.37B	1.02B
Net VEX	-42.3M	-44.3M	-40.6M	-42.3M	-42.0M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	1.12	0.10	2.57	1.00	0.59
Total Volume	146,790.238	62,747	424,876	166,902	187,882
Total OI	6,428,348.571	5,522,425	7,167,625	6,442,293	5,786,062

Daily Data (21 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 Vol	Put Vol	Call OI	Put OI
2025-03-03	$42.73	$42.00	18.6%	5.8%	15.7%	47.8%	21.6%	4.0%	0.6%	-68.0M	1.37B	-42.3M	1.00	69.75	83,302	83,600	2,790,990	3,651,303
2025-03-04	$43.33	$42.00	18.6%	5.7%	16.2%	48.1%	20.0%	4.4%	-0.1%	11.5M	227.9M	-42.6M	2.52	65.40	22,281	56,037	2,824,877	3,661,337
2025-03-05	$44.53	$42.00	19.3%	5.7%	17.8%	53.5%	20.9%	3.3%	-3.7%	159.2M	-1.97B	-44.3M	0.52	77.92	144,582	75,062	2,837,696	3,691,834
2025-03-06	$44.22	$42.00	20.1%	5.9%	18.0%	59.0%	21.5%	3.2%	-0.2%	135.4M	-1.52B	-43.3M	0.70	71.70	42,150	29,348	2,877,328	3,727,809
2025-03-07	$44.39	$42.00	18.6%	5.3%	18.0%	48.1%	19.3%	2.5%	1.4%	172.5M	-1.92B	-43.1M	2.39	40.33	23,544	56,305	2,896,605	3,743,675
2025-03-10	$43.30	$42.00	16.2%	6.8%	20.3%	30.3%	24.3%	4.2%	9.6%	-590.7K	349.1M	-42.8M	1.02	62.43	49,798	50,778	2,869,180	3,750,654
2025-03-11	$43.80	$42.00	21.5%	6.7%	20.3%	69.5%	24.3%	3.8%	-0.4%	66.7M	-580.3M	-43.1M	1.01	65.22	41,752	42,011	2,865,837	3,775,814
2025-03-12	$43.97	$42.00	19.4%	6.0%	20.3%	54.0%	20.8%	1.4%	-0.1%	87.2M	-778.5M	-42.8M	0.10	54.86	65,135	6,709	2,882,300	3,801,609
2025-03-13	$43.77	$42.00	20.4%	6.3%	20.2%	61.4%	21.6%	4.6%	-0.2%	76.0M	-532.3M	-42.5M	0.53	51.91	82,362	43,589	2,939,539	3,800,724
2025-03-14	$44.55	$42.00	19.7%	5.9%	21.2%	55.9%	20.6%	4.0%	-0.3%	195.5M	-2.16B	-42.1M	0.56	7.43	43,871	24,753	2,950,744	3,796,870
2025-03-17	$45.36	$44.00	19.8%	4.1%	21.9%	56.9%	18.7%	3.1%	-2.5%	336.0M	-3.88B	-40.6M	0.45	52.83	153,375	69,570	2,954,035	3,785,681
2025-03-18	$45.11	$44.50	19.8%	5.5%	21.9%	57.1%	19.0%	2.9%	6.0%	329.4M	-3.36B	-41.5M	0.97	39.60	91,279	88,945	3,030,434	3,817,413
2025-03-19	$45.28	$44.50	17.5%	2.7%	21.9%	40.0%	19.6%	3.1%	-7.5%	396.0M	-3.59B	-40.7M	0.53	83.30	278,016	146,860	3,068,285	3,852,819
2025-03-20	$44.80	$44.50	18.1%	5.2%	22.0%	44.4%	19.9%	3.2%	-0.7%	256.2M	-2.58B	-42.2M	1.07	53.33	118,818	127,218	3,127,702	3,947,488
2025-03-21	$44.52	$44.50	15.8%	4.9%	22.1%	27.0%	18.1%	2.7%	-8.1%	169.7M	-1.92B	-42.5M	1.24	54.38	41,957	51,923	3,154,062	4,013,563
2025-03-24	$44.77	$44.50	17.3%	4.9%	21.6%	38.2%	17.4%	-2.9%	2.1%	120.5M	-763.7M	-42.1M	2.35	50.36	70,038	164,898	2,289,557	3,232,868
2025-03-25	$44.67	$44.50	15.9%	4.6%	21.6%	28.4%	16.1%	2.1%	3.6%	119.9M	-635.6M	-42.2M	0.93	54.94	69,699	64,741	2,345,836	3,295,757
2025-03-26	$44.36	$44.50	15.5%	4.5%	21.5%	25.5%	16.2%	2.0%	-5.7%	42.1M	-196.7M	-41.9M	2.57	52.90	27,333	70,120	2,339,345	3,351,077
2025-03-27	$44.64	$44.50	15.7%	4.6%	20.4%	26.8%	15.5%	2.0%	-0.5%	84.1M	-605.7M	-42.4M	0.66	55.31	37,845	24,902	2,340,986	3,376,841
2025-03-28	$43.75	$44.50	16.8%	4.9%	20.6%	34.6%	17.9%	2.2%	-0.7%	-56.9M	923.3M	-41.9M	1.78	57.79	46,907	83,300	2,362,909	3,385,875
2025-03-31	$43.72	$44.50	16.7%	5.0%	20.4%	34.1%	16.8%	-7.0%	0.6%	-71.6M	1.02B	-42.0M	0.59	57.75	118,464	69,418	2,363,449	3,422,613