VNQ Options History — March 2025

In March 2025, VNQ traded between $88.43 and $94.19. ATM implied volatility averaged 19.2%, placing in the 45.7% IV rank vs the trailing year. The 30-day expected move averaged 5.7%. IV traded above realized volatility by 4.0% (HV 20d: 15.2%). Max pain ranged from $85.00 to $94.00. Net GEX was positive for 20 of 21 trading days. Term structure was in contango for 8 of 21 days. Put/call ratio averaged 0.43.

Notable Days

  • 2025-03-11: Highest Volume — 2,493 contracts
  • 2025-03-21: Largest IV drop — 11.7% change
  • 2025-03-13: Highest IV Rank — 70.6%
  • 2025-03-13: Largest Expected Move — 7.1%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$91.26$88.43$94.19$94.08$90.83
Max Pain$92.05$85.00$94.00$93.00$91.00
ATM IV19.2%15.2%22.6%20.9%18.1%
Expected Move5.7%4.6%7.1%6.3%5.2%
HV 20d15.2%8.4%20.0%8.4%20.0%
HV 60d16.2%15.5%17.8%15.6%16.2%
IV Rank45.7%15.4%70.6%57.6%38.2%
IV Percentile77.3%16.7%98.0%95.2%71.8%
Term Structure-0.2%-1.5%0.5%-0.1%0.1%
VWIV19.8%15.3%25.3%21.3%18.3%
Skew 25d3.3%2.2%4.2%3.8%3.7%
Skew 10d7.0%3.7%9.1%9.1%5.2%
Call IV 25d17.4%14.4%20.9%18.6%16.5%
Put IV 25d20.7%16.6%24.5%22.3%20.2%
Bid-Ask Spread %17.418.6582.7013.7912.39
Gamma HHI0.100.060.300.110.07
Net GEX1.1M-494.7K3.6M1.4M496.1K
Net DEX22.8M-4.7M52.5M-2.3M16.5M
Net VEX-555.5K-601.5K-518.2K-601.5K-565.1K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.430.072.830.670.43
Total Volume1,5759542,4939581,196
Total OI38,994.28633,85042,64038,94036,263

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2025-03-03$94.08$93.0020.9%6.3%8.4%57.6%21.3%3.8%-0.1%1.4M-2.3M-601.5K0.6713.79N/AN/A57438418,75120,189
2025-03-04$93.70$93.0020.5%6.0%8.6%54.6%20.9%3.9%-0.6%1.4M2.0M-599.3K0.2312.77N/AN/A89320919,02220,369
2025-03-05$94.19$93.0019.8%6.0%8.7%49.8%20.7%3.1%-0.5%1.9M-4.7M-597.2K0.2230.56N/AN/A78117319,25820,445
2025-03-06$92.11$93.0021.6%6.5%11.4%62.8%25.3%3.4%-0.5%1.0M21.6M-586.4K0.2412.03N/AN/A1,85144019,66120,569
2025-03-07$92.43$93.0020.0%5.7%11.5%51.2%19.5%3.7%-0.4%3.4M16.3M-584.8K0.3011.95N/AN/A1,40742820,18320,604
2025-03-10$91.84$93.0021.4%6.6%11.7%61.3%22.3%4.2%-0.4%478.3K23.9M-577.8K0.0711.84N/AN/A1,93113919,46020,297
2025-03-11$90.69$93.0022.0%7.0%12.6%66.3%23.1%3.8%-0.7%277.1K30.2M-562.5K0.1514.38N/AN/A2,16632720,42919,828
2025-03-12$90.42$93.0021.7%6.7%12.5%63.7%20.6%3.7%-0.4%680.8K33.5M-550.9K0.5610.55N/AN/A1,01857121,04219,937
2025-03-13$88.43$93.0022.6%7.1%14.5%70.6%23.9%3.6%-0.2%-494.7K52.5M-518.2K0.1811.26N/AN/A1,63028620,98420,009
2025-03-14$89.96$93.0020.2%6.0%15.5%54.0%20.4%3.3%-0.2%1.4M36.9M-535.5K0.228.65N/AN/A97821221,56120,024
2025-03-17$91.85$94.0018.5%5.4%17.3%41.2%18.8%2.7%0.0%1.0M18.1M-555.1K0.2718.54N/AN/A86123520,22319,866
2025-03-18$91.16$94.0019.5%5.6%17.5%48.9%19.3%3.1%-0.3%403.2K28.0M-544.5K0.1419.17N/AN/A1,02313920,55219,885
2025-03-19$91.72$94.0018.0%5.4%17.6%37.4%19.0%2.2%0.4%1.3M23.1M-543.2K0.1082.70N/AN/A1,37614220,85719,986
2025-03-20$91.34$0.0018.0%5.1%17.7%37.4%17.5%2.8%-1.5%996.2K26.5M-542.1K0.0719.54N/AN/A1,91913521,45020,096
2025-03-21$90.57$85.0015.9%4.8%17.7%21.2%15.7%3.5%-0.4%429.9K36.9M-529.5K0.1916.01N/AN/A1,62630422,46020,180
2025-03-24$91.70$88.0015.2%4.6%18.2%15.4%15.3%2.2%0.5%2.0M15.8M-525.0K0.1712.78N/AN/A85014216,88916,961
2025-03-25$89.69$91.0016.5%4.8%19.4%25.9%16.4%3.1%0.1%59.7K30.2M-520.7K0.3310.58N/AN/A1,27041416,84517,034
2025-03-26$90.06$91.0016.8%4.9%19.5%28.2%18.9%3.2%0.2%970.0K22.5M-531.1K2.8313.10N/AN/A3711,05117,41516,880
2025-03-27$90.06$92.0017.2%5.0%19.3%30.6%19.7%3.0%0.1%967.9K22.8M-543.3K1.5111.40N/AN/A9391,41517,61017,866
2025-03-28$89.54$91.0018.9%5.4%19.2%44.0%18.6%3.4%0.2%3.6M29.0M-551.5K0.2211.71N/AN/A1,04022917,96318,977
2025-03-31$90.83$91.0018.1%5.2%20.0%38.2%18.3%3.7%0.1%496.1K16.5M-565.1K0.4312.39N/AN/A83636017,31318,950