EEM Options History — October 2025

In October 2025, EEM traded between $52.09 and $55.95. ATM implied volatility averaged 17.6%, placing in the 17.7% IV rank vs the trailing year. The 30-day expected move averaged 5.0%. IV traded above realized volatility by 1.5% (HV 20d: 16.1%). Max pain ranged from $50.00 to $52.00. Net GEX was positive for 22 of 23 trading days. Term structure was in contango for 12 of 23 days. Put/call ratio averaged 1.29.

Notable Days

2025-10-15: Highest Volume — 411,850 contracts
2025-10-10: Largest IV spike — 36.7% change
2025-10-16: Highest IV Rank — 35.5%
2025-10-16: Largest Expected Move — 6.4%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$54.41	$52.09	$55.95	$53.83	$55.30
Max Pain	$51.11	$50.00	$52.00	$51.00	$52.00
ATM IV	17.6%	15.0%	22.9%	15.0%	16.8%
Expected Move	5.0%	4.1%	6.4%	4.2%	5.0%
HV 20d	16.1%	8.0%	20.3%	9.1%	20.3%
HV 60d	13.1%	10.2%	14.5%	10.3%	14.4%
IV Rank	17.7%	8.8%	35.5%	8.8%	14.9%
IV Percentile	66.5%	35.3%	93.7%	35.3%	67.9%
Term Structure	-0.1%	-0.8%	0.3%	0.2%	0.3%
VWIV	18.9%	14.4%	25.2%	14.7%	17.5%
Skew 25d	3.4%	0.9%	6.4%	0.9%	3.2%
Skew 10d	7.9%	3.4%	13.9%	3.4%	6.9%
Call IV 25d	16.3%	14.7%	20.2%	14.9%	15.9%
Put IV 25d	19.7%	15.9%	26.3%	15.9%	19.1%
Bid-Ask Spread %	12.63	2.23	23.78	2.80	16.83
Gamma HHI	0.15	0.12	0.20	0.15	0.13
Net GEX	351.9M	-70.8M	497.7M	388.8M	321.9M
Net DEX	-7.66B	-9.15B	-4.30B	-7.69B	-7.81B
Net VEX	-29.8M	-33.8M	-27.1M	-28.7M	-28.1M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	1.29	0.06	4.55	0.86	0.87
Total Volume	185,975.783	43,362	411,850	135,748	133,989
Total OI	6,606,016.174	6,189,598	6,947,349	6,189,598	6,947,349

Daily Data (23 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
2025-10-01	$53.83	$51.00	15.0%	4.2%	9.1%	8.8%	14.7%	0.9%	0.2%	388.8M	-7.69B	-28.7M	0.86	2.80	73,125	62,623	2,696,206	3,493,392
2025-10-02	$54.11	$51.00	15.9%	4.4%	8.8%	11.8%	15.8%	1.5%	0.1%	400.5M	-8.23B	-27.9M	0.21	2.23	162,981	33,615	2,729,385	3,547,623
2025-10-03	$54.25	$51.00	15.3%	4.1%	8.3%	10.0%	14.4%	1.4%	0.2%	416.6M	-8.57B	-28.6M	0.06	2.65	239,959	13,901	2,817,540	3,570,865
2025-10-06	$54.53	$50.00	15.1%	4.6%	8.0%	9.1%	17.3%	1.6%	0.2%	475.9M	-9.15B	-28.6M	0.87	12.23	55,991	48,772	2,943,798	3,563,891
2025-10-07	$54.06	$50.00	15.9%	4.6%	9.0%	12.0%	16.0%	1.6%	0.1%	426.3M	-7.99B	-30.7M	0.72	9.53	71,317	51,626	2,941,501	3,592,740
2025-10-08	$54.45	$51.00	15.2%	4.5%	9.0%	9.6%	15.8%	1.6%	0.3%	497.7M	-8.98B	-27.8M	0.10	9.20	39,399	3,963	2,987,245	3,622,914
2025-10-09	$53.91	$51.00	15.7%	4.6%	9.1%	11.3%	18.6%	2.2%	0.1%	458.6M	-7.92B	-29.1M	3.25	12.02	15,575	50,657	2,978,114	3,625,796
2025-10-10	$52.09	$51.00	21.5%	6.0%	15.7%	30.7%	20.9%	6.4%	-0.1%	-70.8M	-4.30B	-33.5M	4.13	23.78	44,731	184,915	2,970,454	3,648,196
2025-10-13	$53.47	$51.00	18.4%	5.2%	18.1%	20.5%	19.1%	3.8%	-0.1%	352.0M	-6.88B	-31.0M	0.27	15.67	227,551	62,145	2,962,451	3,662,424
2025-10-14	$52.98	$51.00	21.1%	5.9%	18.3%	29.3%	23.3%	4.4%	-0.4%	257.6M	-5.98B	-31.2M	0.81	12.54	149,272	121,631	2,981,191	3,642,360
2025-10-15	$53.88	$51.00	21.2%	5.8%	19.2%	29.7%	25.2%	5.0%	-0.8%	388.4M	-7.34B	-31.9M	0.61	12.99	255,507	156,343	2,991,474	3,704,947
2025-10-16	$54.16	$51.00	22.9%	6.4%	19.2%	35.5%	23.9%	6.1%	-0.6%	424.8M	-7.65B	-33.8M	2.65	9.83	47,039	124,590	3,051,631	3,789,352
2025-10-17	$54.22	$51.00	20.8%	5.9%	19.1%	28.3%	21.5%	5.1%	-0.2%	432.7M	-7.85B	-32.5M	1.35	10.37	60,135	81,079	3,053,169	3,884,545
2025-10-20	$54.95	$51.00	18.7%	5.3%	19.6%	21.3%	18.5%	5.4%	-0.7%	291.2M	-7.60B	-29.7M	0.78	13.09	135,694	105,985	2,691,325	3,624,766
2025-10-21	$54.36	$51.00	17.9%	5.1%	20.1%	18.8%	20.7%	4.7%	-0.5%	268.7M	-6.77B	-30.2M	2.74	12.23	35,634	97,759	2,721,348	3,687,273
2025-10-22	$54.28	$52.00	18.1%	5.2%	20.0%	19.5%	22.2%	4.9%	-0.7%	240.1M	-6.36B	-31.4M	1.10	13.81	65,657	72,255	2,707,926	3,761,557
2025-10-23	$54.78	$51.00	16.8%	4.8%	20.1%	14.8%	19.8%	3.8%	-0.5%	315.7M	-7.58B	-27.1M	4.55	15.07	36,188	164,559	2,704,958	3,781,930
2025-10-24	$55.11	$51.00	16.6%	4.8%	20.1%	14.1%	16.1%	3.5%	-0.3%	316.7M	-7.88B	-27.4M	0.47	14.77	172,307	80,645	2,719,995	3,903,784
2025-10-27	$55.66	$51.00	16.1%	4.6%	20.1%	12.5%	19.3%	2.8%	0.2%	390.0M	-8.46B	-28.3M	1.09	17.39	76,823	83,969	2,768,127	3,938,401
2025-10-28	$55.70	$51.50	16.2%	4.6%	20.1%	13.0%	16.0%	3.0%	0.3%	393.1M	-8.63B	-27.6M	0.21	17.40	156,615	32,930	2,805,767	3,990,188
2025-10-29	$55.95	$52.00	17.0%	5.0%	20.0%	15.7%	19.1%	2.9%	0.2%	382.6M	-8.68B	-30.3M	0.70	17.06	128,369	89,591	2,862,455	3,997,253
2025-10-30	$55.45	$52.00	17.1%	5.1%	20.3%	16.1%	19.4%	3.1%	0.2%	324.9M	-7.91B	-29.4M	1.26	17.08	75,267	94,765	2,837,142	4,033,624
2025-10-31	$55.30	$52.00	16.8%	5.0%	20.3%	14.9%	17.5%	3.2%	0.3%	321.9M	-7.81B	-28.1M	0.87	16.83	71,798	62,191	2,869,711	4,077,638