IEF Options History — April 2025

In April 2025, IEF traded between $93.52 and $96.56. ATM implied volatility averaged 9.5%, placing in the 65.3% IV rank vs the trailing year. The 30-day expected move averaged 2.7%. IV traded above realized volatility by 1.1% (HV 20d: 8.3%). Max pain ranged from $94.00 to $95.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 3 of 21 days. Put/call ratio averaged 0.68.

Notable Days

  • 2025-04-04: Highest Volume — 428,762 contracts
  • 2025-04-04: Largest IV spike — 12.8% change
  • 2025-04-08: Highest IV Rank — 100.0%
  • 2025-04-08: Largest Expected Move — 3.2%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$94.99$93.52$96.56$95.40$96.07
Max Pain$94.86$94.00$95.00$94.00$95.00
ATM IV9.5%7.9%11.2%8.0%8.4%
Expected Move2.7%2.2%3.2%2.2%2.5%
HV 20d8.3%5.8%9.3%6.0%9.0%
HV 60d7.0%6.2%7.3%6.2%7.3%
IV Rank65.3%34.4%100.0%35.2%42.6%
IV Percentile90.8%73.8%100.0%76.2%79.8%
Term Structure-0.1%-0.4%0.2%-0.2%0.2%
VWIV9.7%7.6%11.4%7.8%9.1%
Skew 25d-0.8%-1.4%0.2%-0.8%-1.1%
Skew 10d-1.3%-3.4%0.8%-1.6%-2.2%
Call IV 25d10.2%8.4%12.3%8.6%9.0%
Put IV 25d9.4%7.6%11.6%7.7%7.9%
Bid-Ask Spread %22.5413.2531.3825.9031.02
Gamma HHI0.170.090.560.220.17
Net GEX229.9M47.4M533.0M263.1M344.3M
Net DEX-810.5M-1.34B-215.2M-729.7M-1.34B
Net VEX-6.3M-8.1M-3.1M-3.1M-7.1M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.680.013.470.050.04
Total Volume71,643.2863,207428,76213,862243,785
Total OI624,868.524324,929781,290324,929694,048

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2025-04-01$95.40$94.008.0%2.2%6.0%35.2%7.8%-0.8%-0.2%263.1M-729.7M-3.1M0.0525.9013,196666209,918115,011
2025-04-02$95.19$94.007.9%2.2%5.8%34.4%7.6%-0.8%-0.3%240.8M-664.4M-3.2M0.3324.413,7241,216215,397115,408
2025-04-03$96.28$94.008.8%2.4%7.0%53.0%8.4%-0.8%-0.3%336.1M-1.07B-3.1M0.7624.049,4557,158217,291116,308
2025-04-04$96.56$95.0010.0%2.8%6.9%76.1%9.6%-1.4%-0.3%533.0M-1.19B-3.3M0.0119.64426,4512,311217,247124,545
2025-04-07$95.56$95.0010.9%3.0%7.6%94.4%10.6%-1.1%-0.2%153.2M-752.3M-6.3M3.4719.7011,95241,519412,729133,382
2025-04-08$95.13$95.0011.2%3.2%7.7%100.0%11.2%-1.3%-0.1%99.1M-607.6M-6.6M0.9216.6824,01922,177420,062158,297
2025-04-09$94.22$95.009.9%2.7%8.4%73.1%10.3%-0.1%-0.4%47.4M-215.2M-5.7M0.0728.80359,33126,666415,754162,604
2025-04-10$94.19$95.0010.6%3.0%8.2%87.3%10.9%0.2%-0.3%123.2M-505.9M-7.2M0.3726.255,1071,896526,235165,512
2025-04-11$93.52$95.0011.0%3.1%8.5%94.8%11.4%-0.4%-0.3%86.0M-287.9M-7.2M0.8821.3043,72038,563529,973165,868
2025-04-14$94.23$95.0010.5%3.0%8.9%86.3%10.8%-1.0%-0.1%136.2M-689.3M-8.1M0.1317.9113,4431,741566,212183,713
2025-04-15$94.54$95.009.9%2.9%9.0%73.9%11.1%-1.2%-0.3%162.4M-787.4M-7.6M0.0717.8138,2232,559547,454182,165
2025-04-16$94.97$95.009.7%2.8%9.1%68.6%9.7%-1.3%-0.1%266.2M-1.08B-8.0M1.3722.299,87513,502581,544184,312
2025-04-17$94.66$95.008.9%2.5%9.2%52.8%8.9%-0.6%-0.0%248.1M-735.5M-7.0M0.1515.2952,3177,918574,577181,501
2025-04-21$94.18$95.009.8%2.8%9.3%72.0%10.1%-0.1%-0.2%203.3M-699.6M-6.6M2.3519.376,46615,222557,967138,550
2025-04-22$94.28$95.009.4%2.7%9.1%63.5%9.6%-0.5%-0.3%213.1M-695.6M-6.9M0.9113.254,3283,919561,094150,910
2025-04-23$94.34$95.009.3%2.7%9.1%61.4%9.6%-0.4%-0.2%214.4M-679.9M-6.5M0.1220.575,644660562,215150,803
2025-04-24$94.84$95.008.9%2.6%9.2%54.5%9.4%-0.6%-0.1%240.5M-820.7M-7.4M0.8720.0012,55610,912565,243216,047
2025-04-25$95.19$95.008.5%2.4%9.3%44.6%8.8%-0.7%-0.1%287.4M-990.1M-7.0M0.0931.3810,583985565,728151,847
2025-04-28$95.56$95.008.7%2.6%9.0%49.1%8.6%-1.1%0.2%297.8M-1.18B-7.3M0.8929.591,6961,511565,082126,962
2025-04-29$95.93$95.008.9%2.6%9.0%53.3%9.3%-1.3%0.1%331.0M-1.29B-7.3M0.4828.195,0802,457565,406127,318
2025-04-30$96.07$95.008.4%2.5%9.0%42.6%9.1%-1.1%0.2%344.3M-1.34B-7.1M0.0431.02233,29810,487565,295128,753