EEM Options History — August 2025

In August 2025, EEM traded between $48.16 and $50.59. ATM implied volatility averaged 13.8%, placing in the 5.0% IV rank vs the trailing year. The 30-day expected move averaged 4.0%. IV traded above realized volatility by 2.6% (HV 20d: 11.2%). Max pain ranged from $46.00 to $48.50. Net GEX was positive for 19 of 21 trading days. Term structure was in contango for 11 of 21 days. Put/call ratio averaged 1.95.

Notable Days

2025-08-13: Highest Volume — 275,118 contracts
2025-08-08: Largest IV drop — 6.3% change
2025-08-01: Highest IV Rank — 10.1%
2025-08-01: Largest Expected Move — 4.4%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$49.69	$48.16	$50.59	$48.16	$49.88
Max Pain	$46.12	$46.00	$48.50	$48.50	$46.00
ATM IV	13.8%	13.0%	15.4%	15.4%	13.4%
Expected Move	4.0%	3.7%	4.4%	4.4%	3.9%
HV 20d	11.2%	9.4%	13.1%	10.1%	12.3%
HV 60d	11.8%	11.1%	12.4%	11.8%	12.1%
IV Rank	5.0%	2.2%	10.1%	10.1%	3.4%
IV Percentile	10.2%	0.8%	34.9%	34.9%	4.0%
Term Structure	-0.0%	-0.2%	0.4%	-0.2%	-0.1%
VWIV	15.1%	12.8%	19.6%	16.3%	13.0%
Skew 25d	1.9%	0.9%	3.4%	3.4%	2.1%
Skew 10d	4.9%	3.2%	9.1%	9.1%	4.8%
Call IV 25d	13.4%	12.5%	14.4%	14.4%	12.7%
Put IV 25d	15.3%	14.0%	17.8%	17.8%	14.8%
Bid-Ask Spread %	5.27	2.78	11.12	11.12	3.91
Gamma HHI	0.11	0.08	0.31	0.08	0.11
Net GEX	174.6M	-63.3M	435.7M	-63.3M	195.0M
Net DEX	-5.21B	-6.78B	-2.10B	-2.10B	-5.39B
Net VEX	-32.2M	-39.4M	-27.5M	-39.4M	-30.5M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	1.95	0.48	8.22	2.74	1.33
Total Volume	115,945.19	50,112	275,118	177,543	125,576
Total OI	6,751,956.333	6,513,286	7,007,902	6,641,803	6,950,424

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
2025-08-01	$48.16	$48.50	15.4%	4.4%	10.1%	10.1%	16.3%	3.4%	-0.2%	-63.3M	-2.10B	-39.4M	2.74	11.12	47,507	130,036	2,513,393	4,128,410
2025-08-04	$48.66	$46.00	14.6%	4.3%	9.5%	7.4%	14.5%	2.9%	-0.1%	-6.9M	-3.28B	-36.7M	8.22	8.82	16,367	134,550	2,502,973	4,167,670
2025-08-05	$48.89	$46.00	14.8%	4.3%	9.4%	8.3%	15.4%	2.6%	0.0%	67.7M	-3.67B	-36.7M	1.44	5.61	28,954	41,744	2,522,777	4,122,633
2025-08-06	$49.06	$46.00	14.1%	4.1%	9.4%	6.0%	16.5%	2.7%	-0.1%	95.5M	-4.06B	-35.7M	3.95	5.15	20,141	79,519	2,529,335	4,163,536
2025-08-07	$49.47	$46.00	14.1%	4.1%	9.8%	6.0%	15.5%	2.3%	0.1%	170.6M	-4.89B	-34.7M	0.73	6.68	65,424	47,546	2,544,268	4,206,419
2025-08-08	$49.39	$46.00	13.3%	3.9%	9.7%	3.0%	16.1%	1.7%	-0.0%	168.7M	-4.73B	-34.0M	0.82	5.75	89,684	73,298	2,564,065	4,229,786
2025-08-11	$49.28	$46.00	13.7%	4.0%	9.8%	4.6%	15.2%	1.8%	-0.0%	130.7M	-4.69B	-33.6M	1.21	4.56	31,733	38,527	2,548,469	4,227,486
2025-08-12	$49.91	$46.00	13.0%	3.7%	10.3%	2.2%	19.6%	2.4%	0.0%	266.6M	-5.56B	-32.9M	1.88	4.15	34,773	65,213	2,553,580	4,242,394
2025-08-13	$50.45	$46.00	13.4%	3.8%	10.9%	3.6%	15.4%	1.7%	-0.2%	338.0M	-6.78B	-29.2M	0.57	4.95	175,489	99,629	2,550,927	4,291,508
2025-08-14	$49.84	$46.00	13.5%	3.9%	11.8%	3.8%	16.2%	1.5%	0.1%	246.2M	-5.72B	-32.8M	2.28	7.81	46,419	105,797	2,637,154	4,311,146
2025-08-15	$49.94	$46.00	13.1%	3.8%	11.7%	2.5%	15.7%	0.9%	0.1%	435.7M	-6.18B	-30.7M	1.34	9.02	64,235	86,201	2,677,443	4,330,459
2025-08-18	$50.22	$46.00	13.3%	3.8%	11.7%	3.2%	13.7%	1.4%	0.4%	193.5M	-5.99B	-30.0M	4.34	2.97	9,750	42,335	2,466,937	4,046,349
2025-08-19	$49.80	$46.00	13.9%	4.0%	12.1%	5.1%	15.8%	1.6%	0.1%	149.7M	-5.26B	-31.4M	1.12	3.23	23,591	26,521	2,476,861	4,095,618
2025-08-20	$49.72	$46.00	13.9%	4.0%	11.6%	5.1%	14.1%	1.5%	0.2%	145.8M	-5.30B	-30.2M	3.03	2.78	16,763	50,795	2,487,831	4,115,705
2025-08-21	$49.66	$46.00	14.6%	4.2%	11.5%	7.5%	14.9%	1.4%	0.2%	127.9M	-5.10B	-31.9M	2.03	3.18	35,729	72,537	2,499,719	4,142,635
2025-08-22	$50.59	$46.00	13.7%	3.9%	13.1%	4.5%	13.6%	1.0%	0.0%	231.8M	-6.69B	-27.8M	0.48	4.45	79,109	37,886	2,523,268	4,172,127
2025-08-25	$50.41	$46.00	13.7%	3.9%	12.8%	4.5%	13.7%	1.2%	0.0%	216.0M	-6.52B	-27.5M	0.58	3.62	69,046	40,000	2,565,445	4,139,741
2025-08-26	$50.22	$46.00	14.2%	4.1%	12.9%	6.3%	14.8%	1.2%	-0.2%	205.1M	-6.10B	-30.9M	0.70	4.11	38,153	26,634	2,639,104	4,163,212
2025-08-27	$49.91	$46.00	13.6%	3.9%	12.9%	4.2%	14.6%	1.5%	-0.2%	176.7M	-5.67B	-29.3M	1.30	4.46	52,587	68,513	2,658,014	4,186,314
2025-08-28	$50.09	$46.00	13.3%	3.8%	12.8%	3.3%	12.8%	1.8%	-0.1%	175.8M	-5.67B	-31.0M	0.83	4.45	52,817	43,721	2,678,820	4,217,128
2025-08-29	$49.88	$46.00	13.4%	3.9%	12.3%	3.4%	13.0%	2.1%	-0.1%	195.0M	-5.39B	-30.5M	1.33	3.91	53,909	71,667	2,696,933	4,253,491