VEA Options History — November 2025

In November 2025, VEA traded between $58.97 and $62.14. ATM implied volatility averaged 13.9%, placing in the 18.9% IV rank vs the trailing year. The 30-day expected move averaged 4.1%. IV traded above realized volatility by 2.2% (HV 20d: 11.7%). Max pain ranged from $56.00 to $60.00. Net GEX was positive for 19 of 19 trading days. Term structure was in contango for 12 of 19 days. Put/call ratio averaged 1.52.

Notable Days

2025-11-24: Highest Volume — 2,636 contracts
2025-11-28: Largest IV drop — 26.3% change
2025-11-25: Highest IV Rank — 28.3%
2025-11-25: Largest Expected Move — 5.0%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$60.72	$58.97	$62.14	$61.11	$61.53
Max Pain	$57.26	$56.00	$60.00	$60.00	$57.00
ATM IV	13.9%	10.6%	17.4%	12.4%	10.6%
Expected Move	4.1%	3.0%	5.0%	3.6%	3.0%
HV 20d	11.7%	9.4%	14.2%	11.3%	14.2%
HV 60d	11.1%	10.4%	11.8%	10.4%	11.7%
IV Rank	18.9%	10.0%	28.3%	15.0%	10.0%
IV Percentile	56.5%	7.1%	90.5%	29.4%	7.1%
Term Structure	0.6%	-2.3%	5.0%	-0.5%	-0.1%
VWIV	14.7%	11.3%	23.3%	11.3%	11.3%
Skew 25d	3.4%	-2.0%	7.1%	5.3%	7.1%
Skew 10d	4.4%	-2.5%	38.8%	9.8%	-2.5%
Call IV 25d	11.8%	8.0%	14.4%	9.2%	8.2%
Put IV 25d	15.2%	11.0%	19.7%	14.5%	15.3%
Bid-Ask Spread %	92.14	68.99	106.11	83.44	106.11
Gamma HHI	0.18	0.14	0.31	0.16	0.28
Net GEX	1.1M	568.2K	2.9M	914.5K	2.6M
Net DEX	-11.0M	-21.0M	-3.4M	-12.3M	-21.0M
Net VEX	-34.7K	-45.6K	-27.6K	-34.0K	-42.5K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	1.52	0.01	15.73	0.30	0.04
Total Volume	351	33	2,636	152	59
Total OI	6,994.842	6,082	8,876	6,143	8,876

Daily Data (19 trading days)

Date	Price	Max Pain	ATM IV	Exp Move	HV 20d	IV Rank	VWIV	Skew 25d	Term Str	GEX	DEX	VEX	P/C	Spread %	Call Wall	Put Wall	Call Vol	Put Vol	Call OI	Put OI
2025-11-03	$61.11	$60.00	12.4%	3.6%	11.3%	15.0%	11.3%	5.3%	-0.5%	914.5K	-12.3M	-34.0K	0.30	83.44	N/A	N/A	117	35	3,931	2,212
2025-11-04	$60.39	$60.00	13.1%	3.7%	11.6%	16.6%	12.2%	4.0%	2.4%	769.4K	-11.0M	-36.0K	0.06	68.99	N/A	N/A	140	8	4,041	2,228
2025-11-05	$60.78	$60.00	12.6%	3.6%	11.8%	15.4%	13.5%	-2.0%	1.8%	752.8K	-11.5M	-35.2K	0.12	93.68	N/A	N/A	58	7	4,069	2,229
2025-11-06	$60.47	$56.00	13.0%	4.2%	11.6%	16.6%	13.6%	3.1%	0.9%	820.6K	-11.4M	-35.1K	1.72	93.64	N/A	N/A	60	103	4,110	2,230
2025-11-07	$60.55	$56.00	13.2%	4.3%	9.4%	17.0%	13.2%	4.3%	1.0%	801.0K	-11.1M	-33.9K	0.43	88.16	N/A	N/A	23	10	4,095	2,204
2025-11-10	$61.36	$56.00	14.0%	4.2%	9.9%	19.3%	13.3%	6.2%	0.6%	1.0M	-13.8M	-30.4K	0.08	91.04	N/A	N/A	77	6	4,099	2,211
2025-11-11	$61.75	$56.00	11.1%	3.4%	10.0%	11.3%	18.7%	4.4%	1.6%	1.1M	-15.1M	-29.6K	8.63	87.82	N/A	N/A	51	440	4,135	2,214
2025-11-12	$62.14	$57.00	13.5%	3.9%	10.0%	17.7%	15.0%	2.8%	-0.0%	1.2M	-14.8M	-27.6K	15.73	85.49	N/A	N/A	55	865	4,129	2,443
2025-11-13	$61.44	$57.00	13.7%	3.9%	10.9%	18.3%	23.3%	1.2%	1.6%	1.0M	-10.6M	-33.0K	0.12	98.64	N/A	N/A	196	23	4,143	2,848
2025-11-14	$61.31	$57.00	14.3%	4.1%	10.9%	20.1%	12.3%	-0.3%	5.0%	1.0M	-10.1M	-32.8K	0.08	100.98	N/A	N/A	174	14	4,222	2,830
2025-11-17	$60.47	$57.00	15.5%	4.4%	11.6%	23.1%	15.4%	4.3%	0.7%	813.6K	-7.5M	-34.3K	0.62	95.28	N/A	N/A	55	34	4,346	2,843
2025-11-18	$59.95	$57.00	15.8%	4.5%	11.6%	24.0%	14.9%	6.4%	-2.3%	657.9K	-5.4M	-34.3K	0.01	94.13	N/A	N/A	270	4	4,355	2,874
2025-11-19	$59.73	$57.00	15.7%	4.5%	11.6%	23.6%	16.9%	4.4%	0.1%	568.2K	-4.9M	-33.9K	0.67	95.74	N/A	N/A	42	28	4,408	2,875
2025-11-20	$58.97	$57.00	16.7%	4.8%	12.1%	26.4%	17.2%	-1.2%	-1.1%	578.1K	-3.4M	-33.9K	0.06	92.17	N/A	N/A	376	21	4,418	2,886
2025-11-21	$59.77	$57.00	12.8%	3.7%	13.2%	15.8%	14.4%	6.9%	0.0%	913.5K	-5.3M	-31.8K	0.18	93.04	N/A	N/A	112	20	4,301	2,689
2025-11-24	$59.95	$57.00	14.9%	4.3%	12.9%	21.5%	14.5%	-1.9%	-1.4%	728.4K	-5.7M	-31.7K	0.01	92.21	N/A	N/A	2,618	18	3,573	2,509
2025-11-25	$60.59	$57.00	17.4%	5.0%	13.6%	28.3%	13.7%	4.3%	0.8%	2.4M	-15.4M	-45.6K	0.09	97.38	N/A	N/A	328	31	6,039	2,526
2025-11-26	$61.36	$57.00	14.4%	4.1%	14.2%	20.1%	14.1%	4.8%	-0.5%	2.9M	-18.9M	-43.0K	0.03	92.73	N/A	N/A	185	6	6,206	2,555
2025-11-28	$61.53	$57.00	10.6%	3.0%	14.2%	10.0%	11.3%	7.1%	-0.1%	2.6M	-21.0M	-42.5K	0.04	106.11	N/A	N/A	57	2	6,323	2,553