IWM Options History — January 2025

In January 2025, IWM traded between $216.65 and $229.37. ATM implied volatility averaged 20.5%, placing in the 20.2% IV rank vs the trailing year. The 30-day expected move averaged 5.8%. IV traded below realized volatility by 0.7% (HV 20d: 21.2%). Max pain ranged from $222.00 to $228.00. Net GEX was positive for 3 of 20 trading days. Term structure was in contango for 7 of 20 days. Put/call ratio averaged 1.25.

Notable Days

  • 2025-01-10: Highest Volume — 2,118,900 contracts
  • 2025-01-15: Largest IV drop — 13.2% change
  • 2025-01-10: Highest IV Rank — 36.8%
  • 2025-01-10: Largest Expected Move — 6.7%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$224.50$216.65$229.37$220.64$226.59
Max Pain$224.70$222.00$228.00$228.00$225.00
ATM IV20.5%18.4%24.0%22.0%20.4%
Expected Move5.8%5.3%6.7%6.3%6.0%
HV 20d21.2%16.4%25.9%22.1%16.5%
HV 60d23.3%22.8%23.6%22.9%23.1%
IV Rank20.2%9.8%36.8%27.2%19.8%
IV Percentile41.5%15.5%81.3%65.9%41.3%
Term Structure-0.2%-0.8%0.2%0.0%0.0%
VWIV21.4%18.7%24.9%22.1%21.5%
Skew 25d2.8%2.0%4.2%3.3%3.1%
Skew 10d5.8%3.7%8.7%7.1%5.6%
Call IV 25d19.3%17.7%22.3%20.7%19.1%
Put IV 25d22.2%19.7%26.5%24.0%22.2%
Bid-Ask Spread %2.171.332.941.632.57
Gamma HHI0.030.030.040.030.03
Net GEX-1.28B-3.00B443.3M-2.13B-1.42B
Net DEX7.23B-6.04B30.33B18.60B4.61B
Net VEX-277.9M-289.9M-263.8M-287.4M-289.9M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.250.711.960.841.85
Total Volume1,325,497.6769,3372,118,9001,217,4481,552,857
Total OI9,943,941.158,867,98211,285,4619,967,6179,485,302

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2025-01-02$220.64$228.0022.0%6.3%22.1%27.2%22.1%3.3%0.0%-2.13B18.60B-287.4M0.841.63662,500554,9483,280,7646,686,853
2025-01-03$224.56$228.0020.5%5.8%23.3%19.9%20.3%2.8%0.2%-1.22B7.67B-278.2M1.311.33540,607710,7763,305,3896,711,705
2025-01-06$224.53$226.0020.5%5.8%23.3%19.9%22.3%2.9%0.1%-1.45B7.81B-278.0M1.302.44585,761763,1583,289,0786,742,306
2025-01-07$221.83$226.0022.1%6.2%23.4%27.4%23.1%3.3%-0.1%-2.32B16.78B-284.5M1.482.42549,305813,8803,326,3346,845,173
2025-01-08$221.66$226.0022.1%6.2%23.4%27.7%23.9%3.4%-0.0%-2.32B16.78B-277.9M1.771.85656,0381,160,5823,394,3956,909,176
2025-01-10$216.65$226.0024.0%6.7%24.4%36.8%24.9%4.2%-0.2%-3.00B30.33B-281.6M1.962.72715,5321,403,3683,474,9006,992,270
2025-01-13$216.74$225.0024.0%6.6%24.0%36.7%24.4%3.7%-0.7%-2.73B29.09B-284.2M1.572.04646,5051,012,2593,460,1037,231,437
2025-01-14$219.34$224.0023.9%6.6%24.4%36.1%24.7%3.7%-0.8%-2.27B20.48B-287.3M1.382.04759,7121,049,4103,578,3717,357,421
2025-01-15$224.24$223.0020.7%5.8%25.9%21.1%21.5%2.8%-0.6%-1.37B4.50B-278.7M1.332.02710,235943,3423,687,1847,532,138
2025-01-16$224.87$223.0019.4%5.4%25.8%14.9%19.5%2.7%-0.6%-1.48B3.75B-274.0M1.362.01501,209682,1793,706,5117,578,950
2025-01-17$225.45$222.0019.5%5.5%25.5%15.1%20.2%2.8%-0.6%-766.8M-2.44B-272.4M1.131.91640,751721,9813,809,6157,421,727
2025-01-21$229.37$223.0019.0%5.4%18.3%12.6%19.7%2.1%-0.2%443.3M-6.04B-264.9M0.942.04607,032570,0922,763,9416,104,041
2025-01-22$228.44$223.0018.7%5.4%18.4%11.5%20.0%2.0%-0.1%34.1M-4.60B-263.8M1.062.12493,683525,2532,855,8006,188,723
2025-01-23$228.98$224.0018.4%5.3%18.2%9.9%19.2%2.0%-0.2%330.4M-4.27B-278.7M0.711.92508,669362,4232,927,0766,286,842
2025-01-24$228.50$224.0018.4%5.3%18.2%9.8%18.7%2.0%-0.1%-432.8M-3.19B-278.4M0.822.07500,325409,6102,934,0316,353,110
2025-01-27$226.44$224.0019.9%5.8%18.4%17.3%21.4%3.1%-0.1%-1.14B2.60B-272.7M1.262.52568,947714,4572,768,2776,235,512
2025-01-28$227.20$224.0018.8%5.5%17.9%12.1%19.6%2.5%0.1%-791.9M410.1M-274.3M0.812.30423,928345,4092,821,5986,311,922
2025-01-29$226.39$225.0019.1%5.6%16.4%13.5%19.9%2.3%0.1%-982.4M2.15B-276.8M0.802.49558,487447,0832,858,0676,353,483
2025-01-30$227.49$225.0019.5%5.7%16.5%15.1%20.2%2.2%0.1%-672.3M-409.3M-273.5M1.402.94473,815663,8442,900,8356,408,463
2025-01-31$226.59$225.0020.4%6.0%16.5%19.8%21.5%3.1%0.0%-1.42B4.61B-289.9M1.852.57544,3701,008,4872,931,1296,554,173