IWM Options History — February 2025

In February 2025, IWM traded between $212.71 and $228.84. ATM implied volatility averaged 20.2%, placing in the 18.7% IV rank vs the trailing year. The 30-day expected move averaged 6.0%. IV traded above realized volatility by 5.5% (HV 20d: 14.7%). Max pain ranged from $221.00 to $225.00. Net GEX was positive for 0 of 19 trading days. Term structure was in contango for 10 of 19 days. Put/call ratio averaged 1.54.

Notable Days

  • 2025-02-21: Highest Volume — 2,432,583 contracts
  • 2025-02-21: Largest IV spike — 11.6% change
  • 2025-02-27: Highest IV Rank — 37.0%
  • 2025-02-27: Largest Expected Move — 7.3%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$222.76$212.71$228.84$223.80$213.42
Max Pain$224.21$221.00$225.00$225.00$221.00
ATM IV20.2%17.9%24.1%22.1%23.4%
Expected Move6.0%5.2%7.3%6.7%7.2%
HV 20d14.7%11.3%17.2%17.2%15.2%
HV 60d19.5%18.3%23.2%23.2%18.4%
IV Rank18.7%7.6%37.0%27.9%33.8%
IV Percentile39.2%11.1%81.7%67.5%79.0%
Term Structure0.0%-0.7%0.6%-0.1%0.4%
VWIV22.0%19.5%27.1%24.5%26.6%
Skew 25d3.5%2.6%5.0%3.8%4.5%
Skew 10d7.1%5.2%10.1%7.0%10.1%
Call IV 25d18.6%16.6%22.2%20.3%20.9%
Put IV 25d22.2%19.3%26.8%24.1%25.4%
Bid-Ask Spread %1.721.462.151.711.65
Gamma HHI0.050.030.120.050.05
Net GEX-2.26B-4.60B-633.5M-3.05B-3.28B
Net DEX13.55B-1.69B38.29B11.90B35.54B
Net VEX-285.0M-311.5M-266.7M-283.0M-304.4M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.540.832.612.611.79
Total Volume1,244,766.737698,5072,432,5831,851,5941,419,729
Total OI10,101,715.1589,509,94810,778,1939,557,83610,426,313

Daily Data (19 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2025-02-03$223.80$225.0022.1%6.7%17.2%27.9%24.5%3.8%-0.1%-3.05B11.90B-283.0M2.611.71512,2251,339,3692,851,4596,706,377
2025-02-04$226.97$225.0020.2%6.0%16.8%18.4%21.4%3.1%0.1%-1.02B3.02B-285.2M1.581.71386,025608,6112,895,0976,777,187
2025-02-05$228.84$224.0019.5%5.6%17.0%15.4%19.7%2.9%0.1%-633.5M-1.69B-273.1M1.371.46418,242574,5992,903,5046,817,914
2025-02-06$228.34$223.0019.5%5.7%16.4%15.2%19.9%2.9%0.2%-1.08B478.5M-278.9M0.941.66551,945519,7862,942,9346,926,281
2025-02-07$225.88$224.0019.5%5.7%16.9%15.3%21.4%3.2%0.2%-3.73B8.16B-285.7M1.901.88517,111983,8143,043,9327,086,483
2025-02-10$227.07$224.0019.0%5.6%14.4%12.9%20.2%3.2%0.4%-1.22B3.85B-285.6M0.862.05376,486322,0212,990,0186,985,197
2025-02-11$225.63$225.0018.9%5.6%14.8%12.5%21.3%2.9%0.4%-1.88B7.18B-279.3M1.201.70408,422489,6133,008,6976,998,876
2025-02-12$223.75$225.0019.0%5.6%14.7%12.7%21.5%3.1%0.4%-2.47B10.91B-274.9M1.961.89395,041772,8533,102,4797,067,788
2025-02-13$225.91$225.0018.2%5.4%12.9%9.0%20.3%2.7%0.6%-1.27B3.56B-269.8M1.011.59574,322582,1883,116,4237,174,384
2025-02-14$225.72$225.0017.9%5.3%12.9%7.6%20.2%2.6%0.6%-1.58B5.09B-280.1M1.411.60328,398463,1553,137,6497,220,810
2025-02-18$226.88$225.0018.9%5.4%13.0%12.1%19.5%3.0%-0.2%-1.14B1.75B-266.7M1.451.76326,485473,5113,090,1927,215,915
2025-02-19$226.56$225.0018.1%5.2%11.3%8.6%19.5%2.9%-0.1%-1.34B2.83B-269.4M0.831.76440,299366,5033,130,2037,360,955
2025-02-20$224.41$225.0018.7%5.4%11.7%11.5%20.7%3.3%-0.2%-2.55B9.95B-282.6M1.161.58567,577655,8833,190,2577,391,715
2025-02-21$218.30$225.0020.9%6.0%15.0%21.9%22.5%5.0%-0.4%-4.60B28.55B-287.4M2.032.15802,9601,629,6233,259,1207,519,073
2025-02-24$216.89$225.0021.6%6.4%15.0%25.5%23.3%4.6%-0.6%-3.11B28.55B-294.2M1.621.58572,853929,4382,771,8666,738,082
2025-02-25$215.58$224.0022.4%6.7%14.9%29.2%24.9%4.8%-0.6%-3.09B30.38B-300.0M1.601.50573,223919,6032,939,7286,857,764
2025-02-26$215.72$223.0022.1%6.6%14.8%27.9%24.2%4.3%-0.6%-2.67B29.14B-303.6M1.761.70468,333825,6853,063,2966,961,495
2025-02-27$212.71$222.0024.1%7.3%15.3%37.0%27.1%4.5%-0.7%-3.31B38.29B-311.5M2.161.83491,8381,062,7993,143,1457,119,980
2025-02-28$213.42$221.0023.4%7.2%15.2%33.8%26.6%4.5%0.4%-3.28B35.54B-304.4M1.791.65508,679911,0503,212,7747,213,539