IEF Options History — March 2025

In March 2025, IEF traded between $94.32 and $95.43. ATM implied volatility averaged 7.7%, placing in the 30.1% IV rank vs the trailing year. The 30-day expected move averaged 2.2%. IV traded above realized volatility by 1.3% (HV 20d: 6.4%). Max pain ranged from $93.00 to $95.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 5 of 21 days. Put/call ratio averaged 1.16.

Notable Days

  • 2025-03-19: Highest Volume — 46,539 contracts
  • 2025-03-12: Largest IV drop — 10.5% change
  • 2025-03-11: Highest IV Rank — 55.6%
  • 2025-03-10: Largest Expected Move — 2.6%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$94.77$94.32$95.43$95.43$95.34
Max Pain$94.33$93.00$95.00$94.00$95.00
ATM IV7.7%6.6%9.0%8.5%8.1%
Expected Move2.2%1.9%2.6%2.5%2.2%
HV 20d6.4%5.7%7.3%6.4%6.2%
HV 60d6.4%6.1%6.6%6.4%6.2%
IV Rank30.1%7.0%55.6%45.5%37.7%
IV Percentile58.8%8.3%94.0%89.7%79.8%
Term Structure-0.1%-1.1%0.4%-0.2%-0.2%
VWIV7.9%6.7%9.1%8.4%7.7%
Skew 25d-0.8%-1.2%-0.4%-0.9%-0.8%
Skew 10d-1.6%-2.1%-0.8%-1.8%-1.7%
Call IV 25d8.1%6.9%9.2%9.0%8.6%
Put IV 25d7.3%6.1%8.4%8.2%7.9%
Bid-Ask Spread %28.9016.9968.7328.5628.08
Gamma HHI0.180.160.220.180.21
Net GEX123.2M85.2M203.1M133.3M203.1M
Net DEX-486.9M-678.7M-306.2M-678.7M-581.6M
Net VEX-3.4M-3.8M-3.2M-3.5M-3.2M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.160.055.850.270.10
Total Volume12,036.90592646,5395,5989,380
Total OI326,115.286299,040378,601301,127311,888

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2025-03-03$95.43$94.008.5%2.5%6.4%45.5%8.4%-0.9%-0.2%133.3M-678.7M-3.5M0.2728.564,4091,189181,470119,657
2025-03-04$95.07$94.008.2%2.3%6.7%39.0%8.3%-0.5%-0.2%128.3M-594.0M-3.5M0.5625.983,3271,876182,908120,572
2025-03-05$94.59$94.008.1%2.3%7.0%37.5%8.1%-0.4%-0.2%119.0M-485.8M-3.5M3.8328.557,62129,159182,835121,466
2025-03-06$94.56$94.008.5%2.5%6.7%45.9%9.1%-0.6%-0.1%93.1M-434.0M-3.8M1.1931.144,2104,991189,172149,546
2025-03-07$94.38$94.007.9%2.1%6.7%33.7%7.4%-0.5%-0.0%85.2M-382.5M-3.7M0.0627.6513,132804192,815153,607
2025-03-10$95.09$94.008.5%2.6%7.0%46.8%9.1%-0.9%-0.1%121.2M-595.0M-3.7M0.1128.5715,9571,790199,402153,236
2025-03-11$94.68$94.009.0%2.5%7.2%55.6%8.8%-1.1%-1.1%89.7M-452.0M-3.8M5.8531.884,84828,345194,462155,090
2025-03-12$94.41$94.008.0%2.2%7.3%36.4%7.6%-0.9%-0.3%108.7M-430.2M-3.5M0.3332.421,069358193,243130,656
2025-03-13$94.81$94.008.2%2.2%6.8%39.6%7.7%-1.0%-0.2%124.0M-514.5M-3.5M0.5129.742,6711,354193,906130,671
2025-03-14$94.47$94.007.7%1.9%6.7%29.4%6.7%-0.8%-0.3%103.4M-415.2M-3.4M0.0535.834,688256192,756131,736
2025-03-17$94.52$93.007.7%2.2%6.5%29.4%7.7%-1.1%-0.3%119.9M-429.3M-3.3M2.5719.841,6554,257194,500131,305
2025-03-18$94.72$93.007.5%2.2%6.2%24.9%7.7%-0.6%-0.3%118.8M-469.8M-3.3M1.2925.453,3874,360194,763132,758
2025-03-19$94.91$95.007.1%2.1%6.2%17.3%7.5%-0.6%-0.1%115.4M-518.8M-3.3M0.0868.7343,0793,460196,092136,919
2025-03-20$95.09$95.007.1%2.1%6.2%17.3%7.2%-0.8%-0.1%181.5M-637.6M-3.4M1.3036.782,3963,124236,552139,758
2025-03-21$95.05$95.006.6%2.0%5.9%8.2%7.3%-0.5%-0.0%91.9M-615.8M-3.3M0.1317.9612,6661,628237,478141,123
2025-03-24$94.47$95.006.6%1.9%6.3%7.0%8.9%-0.8%0.4%128.8M-391.1M-3.2M1.2716.992,3743,014191,056107,984
2025-03-25$94.63$95.007.0%2.1%5.7%14.9%7.1%-0.9%0.2%141.6M-423.6M-3.2M3.0025.582,8918,680190,425108,730
2025-03-26$94.44$95.007.2%2.1%5.7%20.4%7.4%-0.9%0.3%107.7M-349.2M-3.2M0.5919.92945555191,771117,214
2025-03-27$94.32$95.007.3%2.2%5.7%21.3%7.5%-0.9%0.3%91.1M-306.2M-3.2M0.8923.23491435192,428117,020
2025-03-28$95.09$95.007.5%2.2%6.2%24.9%8.3%-1.2%0.3%181.3M-519.7M-3.2M0.2823.989,3102,634192,587116,864
2025-03-31$95.34$95.008.1%2.2%6.2%37.7%7.7%-0.8%-0.2%203.1M-581.6M-3.2M0.1028.088,499881197,619114,269