VAW Options History — May 2025

In May 2025, VAW traded between $184.46 and $192.84. ATM implied volatility averaged 20.0%, placing in the 19.4% IV rank vs the trailing year. The 30-day expected move averaged 5.6%. IV traded below realized volatility by 5.5% (HV 20d: 25.5%). Max pain ranged from $182.00 to $191.00. Net GEX was positive for 0 of 21 trading days. Term structure was in contango for 17 of 21 days. Put/call ratio averaged 5.83.

Notable Days

  • 2025-05-15: Highest Volume — 52 contracts
  • 2025-05-07: Largest IV spike — 27.9% change
  • 2025-05-09: Highest IV Rank — 27.3%
  • 2025-05-01: Largest Expected Move — 6.6%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$189.39$184.46$192.84$186.03$190.34
Max Pain$185.14$182.00$191.00$191.00$188.00
ATM IV20.0%16.9%24.4%22.9%19.2%
Expected Move5.6%4.8%6.6%6.6%5.5%
HV 20d25.5%13.9%54.0%54.0%15.4%
HV 60d33.8%33.5%34.0%33.7%33.5%
IV Rank19.4%13.7%27.3%24.6%18.0%
IV Percentile78.2%60.7%92.5%90.9%77.4%
Term Structure0.3%-3.8%2.5%-0.9%-0.3%
VWIV18.7%16.1%21.8%21.8%19.0%
Skew 25d2.7%-0.9%8.1%-0.3%0.7%
Skew 10d5.9%-13.4%10.0%-13.4%6.2%
Call IV 25d17.4%13.3%24.2%24.2%19.9%
Put IV 25d20.1%15.9%25.0%23.9%20.6%
Bid-Ask Spread %111.4792.56122.19118.81122.19
Gamma HHI0.250.200.320.240.28
Net GEX-10.3K-19.9K-1.5K-12.8K-12.3K
Net DEX-33.2K-163.7K139.5K129.1K-104.5K
Net VEX-2.0K-2.3K-1.7K-2.1K-1.8K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio5.830.0051.000.001.00
Total Volume3.38105202
Total OI105.8579214392120

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2025-05-01$186.03$191.0022.9%6.6%54.0%24.6%0.0%-0.3%-0.9%-12.8K129.1K-2.1K0.00118.81N/AN/A005042
2025-05-02$188.05$191.0021.3%6.1%51.5%21.7%0.0%0.8%0.2%-8.3K40.7K-2.1K0.00120.92N/AN/A105042
2025-05-05$187.07$182.0023.0%6.2%47.2%24.8%0.0%5.0%0.3%-9.8K51.3K-2.1K0.00100.33N/AN/A005142
2025-05-06$185.81$182.0018.9%6.1%45.9%17.4%0.0%8.1%0.8%-17.4K116.9K-2.0K0.0099.02N/AN/A205142
2025-05-07$184.46$182.0024.2%6.4%43.5%27.0%0.0%7.4%0.1%-14.6K139.5K-2.0K0.0097.91N/AN/A005342
2025-05-08$187.30$182.0021.8%6.0%28.6%22.6%0.0%5.6%0.6%-9.2K42.1K-2.0K0.0092.56N/AN/A205342
2025-05-09$186.85$182.0024.4%5.9%23.4%27.3%0.0%3.0%0.0%-16.3K78.6K-2.0K0.00104.54N/AN/A005142
2025-05-12$191.05$182.0021.5%5.1%20.6%22.1%0.0%-0.9%1.0%-4.3K-104.1K-1.9K0.00110.58N/AN/A015242
2025-05-13$191.10$182.0020.6%4.9%20.3%20.4%0.0%2.6%1.4%-1.8K-104.8K-1.9K0.00115.09N/AN/A005243
2025-05-14$188.69$182.0017.5%5.0%20.6%14.9%0.0%0.9%2.5%-12.1K-5.0K-1.9K0.00113.06N/AN/A005243
2025-05-15$190.41$182.0018.4%5.3%20.0%16.5%21.8%4.1%0.2%-7.2K-52.5K-1.8K51.00110.49N/AN/A1515243
2025-05-16$192.13$182.0016.9%4.8%19.9%13.7%19.5%1.1%0.9%-1.5K-104.5K-2.1K0.00111.86N/AN/A015291
2025-05-19$192.45$182.0018.6%5.3%17.7%16.9%16.1%1.9%0.4%-5.0K-137.3K-1.7K0.50108.78N/AN/A212882
2025-05-20$191.90$188.0018.4%5.3%15.8%16.4%0.0%2.6%0.3%-10.0K-117.6K-1.9K0.00117.81N/AN/A203083
2025-05-21$189.98$188.0018.0%5.2%16.5%15.7%0.0%0.8%2.5%-14.6K-85.4K-2.0K0.00116.70N/AN/A003283
2025-05-22$189.84$188.0017.5%5.0%14.5%14.8%17.1%1.4%0.9%-19.9K-36.0K-2.1K0.00110.94N/AN/A203283
2025-05-23$189.87$188.0021.3%6.1%13.9%21.7%19.0%7.2%0.0%-19.6K-21.7K-2.3K0.00107.46N/AN/A013483
2025-05-27$192.84$188.0018.9%5.4%14.7%17.4%0.0%3.2%-0.6%-4.0K-163.7K-1.9K0.00118.61N/AN/A203484
2025-05-28$190.45$188.0018.7%5.4%15.5%17.0%0.0%0.3%-3.8%-7.2K-147.2K-1.9K0.00121.14N/AN/A003684
2025-05-29$190.63$188.0018.2%5.2%15.5%16.1%0.0%0.9%0.0%-9.5K-110.5K-2.0K0.00122.12N/AN/A003684
2025-05-30$190.34$188.0019.2%5.5%15.4%18.0%0.0%0.7%-0.3%-12.3K-104.5K-1.8K1.00122.19N/AN/A113684