USMV Options History — October 2025

In October 2025, USMV traded between $93.03 and $95.41. ATM implied volatility averaged 13.7%, placing in the 19.3% IV rank vs the trailing year. The 30-day expected move averaged 3.7%. IV traded above realized volatility by 6.2% (HV 20d: 7.5%). Max pain ranged from $92.00 to $93.00. Net GEX was positive for 11 of 23 trading days. Term structure was in contango for 15 of 23 days. Put/call ratio averaged 7.99.

Notable Days

  • 2025-10-07: Highest Volume — 152 contracts
  • 2025-10-10: Largest IV spike — 162.2% change
  • 2025-10-13: Highest IV Rank — 48.5%
  • 2025-10-27: Largest Expected Move — 5.2%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$94.47$93.03$95.41$95.02$93.38
Max Pain$92.74$92.00$93.00$93.00$93.00
ATM IV13.7%7.1%25.3%9.6%14.2%
Expected Move3.7%2.2%5.2%2.7%4.1%
HV 20d7.5%5.9%8.9%7.8%8.6%
HV 60d7.6%7.3%7.9%7.6%7.6%
IV Rank19.3%2.9%48.5%9.1%20.8%
IV Percentile64.3%5.6%98.4%42.1%79.0%
Term Structure-0.2%-5.9%4.0%1.1%-0.9%
VWIV11.2%8.6%15.2%11.1%10.8%
Skew 25d5.1%-1.5%12.7%3.7%2.6%
Skew 10d3.0%-0.5%6.2%4.4%2.5%
Call IV 25d8.8%5.4%12.8%5.4%11.1%
Put IV 25d13.8%6.9%22.0%9.1%13.7%
Bid-Ask Spread %110.3388.85126.76100.83112.33
Gamma HHI0.190.160.230.200.16
Net GEX17.3K-153.8K300.3K253.7K-153.8K
Net DEX24.9K-1.5M1.6M-1.0M1.6M
Net VEX-28.5K-30.1K-26.8K-28.9K-27.5K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio7.990.0075.000.571.00
Total Volume31.130152660
Total OI2,147.6522,0112,2672,0832,155

Daily Data (23 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2025-10-01$95.02$93.009.6%2.7%7.8%9.1%11.1%3.7%1.1%253.7K-1.0M-28.9K0.57100.83N/AN/A42247771,306
2025-10-02$94.82$93.007.7%2.2%7.9%4.3%8.6%1.0%4.0%291.6K-1.1M-29.4K1.50108.61N/AN/A237911,325
2025-10-03$95.32$93.009.2%2.6%8.0%8.2%9.2%1.4%1.3%300.3K-1.5M-29.2K0.29107.81N/AN/A102307921,327
2025-10-06$95.09$92.008.6%3.1%8.1%6.6%0.0%4.1%0.7%82.4K-747.5K-28.6K0.0088.85N/AN/A006951,357
2025-10-07$95.15$92.0010.2%3.1%8.0%10.7%10.6%6.1%0.1%88.0K-697.6K-28.7K75.0090.98N/AN/A21506951,357
2025-10-08$95.41$92.007.1%3.1%7.7%2.9%0.0%6.6%0.7%98.9K-874.4K-28.5K0.0090.96N/AN/A506951,507
2025-10-09$94.89$92.007.9%2.8%6.7%4.9%0.0%5.4%0.6%96.3K-652.9K-28.3K0.0092.30N/AN/A006951,507
2025-10-10$94.26$92.0020.7%4.0%6.7%37.0%0.0%4.9%-2.7%64.1K-564.6K-29.2K37.00126.76N/AN/A1376951,507
2025-10-13$94.28$92.0025.3%4.1%6.4%48.5%13.4%5.6%0.1%6.5K403.3K-30.1K0.25125.02N/AN/A416951,541
2025-10-14$94.50$93.0024.1%3.9%5.9%45.5%0.0%3.4%1.7%13.3K393.7K-30.1K0.00121.11N/AN/A206941,542
2025-10-15$94.28$93.0014.2%4.1%5.9%20.7%12.6%6.0%2.1%-7.7K220.8K-29.6K0.21116.68N/AN/A2456941,542
2025-10-16$93.31$93.0011.8%3.4%7.0%14.7%9.8%12.7%1.2%-76.2K676.7K-28.6K1.88116.57N/AN/A43817181,547
2025-10-17$94.09$93.0015.0%4.3%7.6%22.6%15.2%9.6%0.0%19.4K970.6K-29.3K0.79116.20N/AN/A24197191,548
2025-10-20$94.66$93.0013.9%4.0%7.9%19.8%9.4%10.3%-4.0%-77.9K415.5K-27.8K30.00114.06N/AN/A1306761,335
2025-10-21$94.78$93.0010.3%3.0%7.9%11.0%13.7%6.1%-2.1%-64.2K437.8K-27.2K0.00108.88N/AN/A0216771,415
2025-10-22$94.78$93.0015.0%4.3%7.9%22.7%12.3%-1.5%-3.4%-48.3K-27.0K-28.8K2.25117.24N/AN/A496771,436
2025-10-23$94.50$93.0013.8%3.9%7.7%19.6%0.0%5.9%1.1%-73.2K342.4K-28.4K1.00111.89N/AN/A116761,437
2025-10-24$94.59$93.0010.1%2.9%7.1%10.3%10.9%5.2%2.3%-45.2K52.3K-27.6K0.00111.90N/AN/A206771,438
2025-10-27$94.88$93.0018.0%5.2%7.1%30.3%12.3%3.5%-5.9%-66.4K154.6K-27.5K0.00111.50N/AN/A1906771,438
2025-10-28$94.40$93.0015.4%4.4%7.2%23.6%8.7%4.4%1.0%-65.4K9.5K-27.5K0.00112.42N/AN/A306951,438
2025-10-29$93.03$93.0015.1%4.3%8.8%22.9%0.0%6.8%-1.8%-116.1K872.8K-26.8K0.07125.99N/AN/A1516951,438
2025-10-30$93.34$93.0016.9%4.8%8.9%27.5%10.8%3.0%-1.4%-122.2K1.2M-27.5K1.00108.67N/AN/A447091,439
2025-10-31$93.38$93.0014.2%4.1%8.6%20.8%0.0%2.6%-0.9%-153.8K1.6M-27.5K0.00112.33N/AN/A007121,443