IEF Options History — May 2025

In May 2025, IEF traded between $93.16 and $95.25. ATM implied volatility averaged 7.8%, placing in the 31.5% IV rank vs the trailing year. The 30-day expected move averaged 2.2%. IV traded above realized volatility by 0.5% (HV 20d: 7.3%). Max pain ranged from $95.00 to $95.00. Net GEX was positive for 16 of 21 trading days. Term structure was in contango for 12 of 21 days. Put/call ratio averaged 1.63.

Notable Days

  • 2025-05-06: Highest Volume — 190,017 contracts
  • 2025-05-21: Largest IV spike — 7.9% change
  • 2025-05-05: Highest IV Rank — 39.2%
  • 2025-05-01: Largest Expected Move — 2.5%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$94.12$93.16$95.25$95.25$94.56
Max Pain$95.00$95.00$95.00$95.00$95.00
ATM IV7.8%7.5%8.2%8.1%7.6%
Expected Move2.2%2.1%2.5%2.5%2.1%
HV 20d7.3%6.4%9.5%9.5%6.4%
HV 60d7.4%7.3%7.6%7.5%7.3%
IV Rank31.5%24.8%39.2%37.8%26.1%
IV Percentile61.3%41.7%78.2%76.2%46.0%
Term Structure0.1%-0.2%0.5%0.5%0.4%
VWIV8.0%7.3%8.6%8.6%7.3%
Skew 25d0.0%-0.7%0.3%-0.7%0.0%
Skew 10d-0.0%-1.4%0.6%-1.4%0.2%
Call IV 25d8.0%7.4%8.8%8.7%7.4%
Put IV 25d8.0%7.4%8.4%8.0%7.5%
Bid-Ask Spread %26.8314.2837.2730.2737.27
Gamma HHI0.180.130.260.180.17
Net GEX67.9M-98.9M206.8M206.8M134.0M
Net DEX-296.3M-776.5M59.7M-776.5M-442.8M
Net VEX-4.9M-6.0M-4.4M-5.5M-4.4M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.630.018.750.270.68
Total Volume29,019.9052,755190,017167,4143,374
Total OI575,134.857495,948611,556590,878583,777

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2025-05-01$95.25$95.008.1%2.5%9.5%37.8%8.6%-0.7%0.5%206.8M-776.5M-5.5M0.2730.27131,96035,454456,929133,949
2025-05-02$94.72$95.007.7%2.2%8.7%28.6%7.8%-0.5%0.5%164.0M-484.1M-5.2M0.2730.7132,6718,905372,221148,218
2025-05-05$94.52$95.008.2%2.3%8.6%39.2%8.4%-0.4%-0.2%138.5M-399.2M-4.7M0.8115.463,0252,448348,517147,431
2025-05-06$94.75$95.008.1%2.3%7.9%38.1%8.4%-0.3%-0.1%155.3M-483.8M-4.8M0.0122.77188,4371,580349,609148,604
2025-05-07$94.98$95.007.9%2.2%7.8%33.3%8.1%-0.3%-0.1%163.8M-653.9M-6.0M0.4028.413,7561,490419,827148,077
2025-05-08$94.34$95.007.9%2.2%7.4%32.6%8.1%0.0%-0.0%116.6M-375.9M-5.6M1.6214.283,3535,431422,997148,799
2025-05-09$94.34$95.007.8%2.2%7.4%32.0%8.0%0.0%-0.0%110.5M-365.1M-5.4M1.0816.541,3271,428424,830148,995
2025-05-12$93.75$95.008.0%2.3%7.3%35.3%8.0%0.2%-0.1%68.6M-96.6M-4.6M5.3919.224,71725,438422,355149,091
2025-05-13$93.59$95.007.8%2.2%6.8%30.8%8.1%0.2%-0.1%-20.1M59.7M-4.7M5.7022.552,23112,726424,166187,390
2025-05-14$93.30$95.008.0%2.3%6.7%35.1%8.2%0.2%0.1%-46.7M48.0M-4.6M4.0526.502,80411,365425,047180,377
2025-05-15$93.93$95.007.7%2.2%7.0%29.7%8.0%0.0%0.1%12.9M-190.6M-5.0M8.7529.762,63123,017426,325179,962
2025-05-16$94.03$95.007.6%2.2%6.9%27.4%8.0%-0.0%0.1%-98.9M-207.2M-4.8M0.1829.667,4571,351427,429181,189
2025-05-19$93.91$95.007.5%2.1%6.7%25.6%7.8%0.2%0.1%23.2M-201.9M-4.5M0.3129.5015,0284,618403,020163,042
2025-05-20$93.82$95.007.5%2.1%6.7%24.8%7.5%0.2%-0.0%25.1M-213.0M-4.5M0.6031.5813,8018,287411,304162,380
2025-05-21$93.16$95.008.1%2.3%7.1%36.5%8.2%0.3%0.0%-78.3M11.6M-4.5M0.6628.256,6494,408419,779168,957
2025-05-22$93.50$95.007.8%2.2%7.0%31.1%7.8%0.2%-0.0%-34.1M-126.6M-4.6M0.4423.242,6961,179424,750171,207
2025-05-23$93.77$95.007.9%2.3%6.9%33.4%7.9%0.3%0.1%69.9M-254.6M-4.8M0.0830.5511,938978427,248172,030
2025-05-27$94.16$95.007.8%2.2%6.9%31.7%7.9%0.2%0.3%109.5M-392.5M-4.8M0.3632.163,2921,189431,417150,221
2025-05-28$93.91$95.007.6%2.2%6.7%28.4%7.9%0.2%0.4%85.7M-284.3M-4.5M0.7628.767,7685,889433,702151,036
2025-05-29$94.31$95.007.5%2.2%6.9%25.0%7.4%-0.0%0.3%118.5M-393.1M-4.5M1.7435.891,2142,108430,085151,543
2025-05-30$94.56$95.007.6%2.1%6.4%26.1%7.3%0.0%0.4%134.0M-442.8M-4.4M0.6837.272,0131,361430,764153,013