IEF Options History — August 2025

In August 2025, IEF traded between $95.13 and $96.20. ATM implied volatility averaged 6.3%, placing in the 4.8% IV rank vs the trailing year. The 30-day expected move averaged 1.8%. IV traded above realized volatility by 1.2% (HV 20d: 5.1%). Max pain ranged from $95.00 to $96.00. Net GEX was positive for 20 of 21 trading days. Term structure was in contango for 15 of 21 days. Put/call ratio averaged 2.02.

Notable Days

  • 2025-08-15: Highest Volume — 53,944 contracts
  • 2025-08-12: Largest IV drop — 7.9% change
  • 2025-08-04: Highest IV Rank — 16.7%
  • 2025-08-04: Largest Expected Move — 2.0%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$95.61$95.13$96.20$95.70$96.20
Max Pain$95.71$95.00$96.00$95.00$96.00
ATM IV6.3%5.9%7.1%6.6%6.4%
Expected Move1.8%1.7%2.0%1.9%1.8%
HV 20d5.1%3.8%5.8%5.8%3.8%
HV 60d5.7%5.2%6.2%6.2%5.2%
IV Rank4.8%0.0%16.7%6.5%8.8%
IV Percentile4.8%0.0%23.8%9.5%9.5%
Term Structure0.1%-0.2%0.4%0.4%0.1%
VWIV6.5%6.1%7.7%6.8%6.5%
Skew 25d-0.2%-0.7%0.2%-0.5%-0.7%
Skew 10d-0.3%-1.1%0.5%-0.9%-1.1%
Call IV 25d6.4%6.0%7.4%6.9%6.5%
Put IV 25d6.2%5.7%7.2%6.5%5.8%
Bid-Ask Spread %21.1711.3536.8236.8213.66
Gamma HHI0.160.130.200.150.19
Net GEX108.4M-75.7M171.6M153.4M152.7M
Net DEX-426.3M-671.3M-97.2M-652.7M-498.4M
Net VEX-5.4M-6.0M-4.9M-6.0M-5.3M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio2.020.2011.052.931.29
Total Volume15,812.3811,44253,94419,3284,216
Total OI605,927.952547,831642,569570,316642,569

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2025-08-01$95.70$95.006.6%1.9%5.8%6.5%6.8%-0.5%0.4%153.4M-652.7M-6.0M2.9336.824,92114,407388,456181,860
2025-08-04$95.80$95.007.1%2.0%5.7%16.7%7.7%-0.2%-0.0%165.7M-671.3M-5.6M0.2623.2219,4025,110386,754161,077
2025-08-05$95.75$95.006.8%2.0%5.7%11.3%7.3%-0.2%-0.0%146.2M-633.6M-5.6M0.6826.4416,91311,432389,227165,428
2025-08-06$95.65$95.006.6%1.9%5.4%7.6%6.8%-0.0%-0.0%158.3M-623.6M-5.3M0.2924.4911,7963,419397,546159,565
2025-08-07$95.60$95.006.3%1.8%5.4%0.4%6.5%0.1%0.0%169.6M-608.7M-5.1M0.2030.117,1061,450404,373163,147
2025-08-08$95.35$95.006.1%1.8%5.2%0.0%6.4%0.2%0.1%154.6M-537.8M-5.2M11.0526.401,23813,682410,732163,966
2025-08-11$95.44$96.006.4%1.9%5.2%6.1%6.6%0.0%0.1%142.5M-446.9M-5.2M1.4326.157,88811,292412,020173,489
2025-08-12$95.37$96.005.9%1.7%4.9%0.0%6.1%0.1%0.1%111.4M-385.1M-5.0M0.5124.0513,7196,987417,725183,452
2025-08-13$95.72$96.006.0%1.8%5.0%2.4%6.3%-0.1%0.1%171.6M-578.6M-5.2M0.5129.106,0383,057423,487188,749
2025-08-14$95.41$96.005.9%1.7%5.2%0.4%6.2%0.1%0.1%102.0M-425.2M-5.1M1.9013.528591,631428,774190,840
2025-08-15$95.22$96.005.9%1.7%5.2%0.6%6.1%0.0%0.3%77.8M-333.4M-4.9M2.2016.7816,86537,079429,204190,906
2025-08-18$95.13$96.006.2%1.8%5.0%4.8%6.3%-0.0%-0.0%47.5M-135.6M-5.5M3.0411.354,67814,231402,440195,853
2025-08-19$95.38$96.006.2%1.8%5.0%4.5%6.3%-0.3%0.0%69.8M-205.8M-5.6M2.9816.216,76420,182405,471208,653
2025-08-20$95.52$96.006.2%1.8%4.8%6.1%6.3%-0.3%-0.1%22.1M-262.6M-5.7M0.7913.802,3781,870410,216227,957
2025-08-21$95.22$96.006.2%1.8%4.9%5.9%6.4%-0.3%-0.2%-75.7M-97.2M-5.5M0.7018.354,3853,055411,637228,658
2025-08-22$95.77$96.006.2%1.8%5.2%4.2%6.3%-0.5%0.0%64.2M-343.7M-5.4M0.5618.956,1303,415411,831229,371
2025-08-25$95.60$96.006.0%1.8%5.2%1.4%6.2%-0.4%0.2%71.3M-255.7M-5.2M7.3213.654,23431,006409,861208,692
2025-08-26$95.83$96.006.1%1.8%4.8%3.4%6.1%-0.4%0.2%100.4M-337.1M-5.6M1.4930.217471,114413,399225,853
2025-08-27$95.98$96.006.2%1.8%4.6%4.9%6.3%-0.5%0.2%117.7M-400.0M-5.4M0.5914.49907535413,800226,469
2025-08-28$96.18$96.006.2%1.8%4.6%5.5%6.3%-0.4%0.2%153.4M-520.2M-5.5M1.6316.782,2513,671414,242226,738
2025-08-29$96.20$96.006.4%1.8%3.8%8.8%6.5%-0.7%0.1%152.7M-498.4M-5.3M1.2913.661,8442,372415,081227,488