VNQ Options History — May 2025

In May 2025, VNQ traded between $87.28 and $90.30. ATM implied volatility averaged 18.2%, placing in the 15.4% IV rank vs the trailing year. The 30-day expected move averaged 5.1%. IV traded below realized volatility by 3.6% (HV 20d: 21.8%). Max pain ranged from $88.00 to $90.00. Net GEX was positive for 14 of 21 trading days. Term structure was in contango for 16 of 21 days. Put/call ratio averaged 1.37.

Notable Days

  • 2025-05-22: Highest Volume — 5,142 contracts
  • 2025-05-08: Largest IV spike — 19.5% change
  • 2025-05-08: Highest IV Rank — 25.1%
  • 2025-05-01: Largest Expected Move — 5.7%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$88.94$87.28$90.30$89.16$89.28
Max Pain$89.57$88.00$90.00$88.00$89.00
ATM IV18.2%15.0%21.4%19.2%17.6%
Expected Move5.1%4.3%5.7%5.7%5.1%
HV 20d21.8%12.3%42.2%42.2%15.0%
HV 60d27.4%27.0%28.0%27.2%27.9%
IV Rank15.4%5.4%25.1%18.4%13.7%
IV Percentile65.9%12.3%90.9%80.6%61.1%
Term Structure0.0%-9.9%1.8%-0.0%0.6%
VWIV17.2%14.7%21.6%21.6%17.0%
Skew 25d3.7%2.5%7.8%3.8%3.1%
Skew 10d6.0%-0.6%9.6%7.0%7.2%
Call IV 25d15.8%13.3%17.0%16.9%15.9%
Put IV 25d19.5%15.8%23.2%20.7%19.1%
Bid-Ask Spread %67.8110.4787.0714.4678.58
Gamma HHI0.080.060.150.100.07
Net GEX777.6K-1.3M2.8M959.2K-152.0K
Net DEX24.7M77.2K49.4M12.5M26.8M
Net VEX-548.1K-595.8K-503.2K-560.4K-544.9K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.370.0913.820.610.38
Total Volume1,111.4763295,142754365
Total OI44,325.66739,78049,01447,18241,318

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2025-05-01$89.16$88.0019.2%5.7%42.2%18.4%21.6%3.8%-0.0%959.2K12.5M-560.4K0.6114.46N/AN/A46828620,19226,990
2025-05-02$89.85$88.0018.2%5.3%40.4%15.4%18.8%3.8%0.3%1.9M77.2K-559.9K0.5610.47N/AN/A2,7291,53020,30627,056
2025-05-05$89.56$90.0018.7%5.4%38.5%16.9%18.5%3.6%0.2%941.6K11.3M-575.4K0.4813.18N/AN/A44221319,50128,092
2025-05-06$89.06$90.0018.9%5.6%34.8%17.6%19.7%4.1%0.9%1.0M20.3M-562.0K1.3570.61N/AN/A14219219,82628,285
2025-05-07$89.18$90.0017.9%5.3%31.9%14.4%17.7%7.8%-0.6%1.6M13.1M-595.8K0.0987.07N/AN/A5495219,83828,434
2025-05-08$88.94$90.0021.4%5.0%23.6%25.1%17.6%3.8%-9.9%1.6M21.7M-557.5K2.4480.51N/AN/A38293119,94028,442
2025-05-09$89.20$90.0019.1%5.1%20.2%18.2%14.7%3.8%-0.1%1.8M18.2M-563.6K0.4976.18N/AN/A45922419,95029,064
2025-05-12$89.33$90.0019.3%4.9%19.3%18.7%17.2%3.1%1.2%2.2M16.9M-545.1K1.6066.95N/AN/A38661619,72225,750
2025-05-13$88.73$90.0017.3%4.5%17.8%12.8%15.3%3.5%1.6%1.7M28.7M-544.3K1.0774.99N/AN/A56159819,82026,200
2025-05-14$87.60$90.0016.8%4.8%18.5%11.1%16.8%2.9%1.1%203.1K44.1M-530.9K0.3472.75N/AN/A74225619,88526,570
2025-05-15$89.12$90.0016.4%4.7%19.1%9.8%15.5%3.1%0.2%2.8M21.6M-555.6K0.1575.66N/AN/A5988920,15426,513
2025-05-16$90.14$90.0015.0%4.3%18.2%5.4%14.9%2.5%1.4%2.4M6.8M-567.1K0.6477.14N/AN/A65742320,20126,540
2025-05-19$90.30$90.0016.4%4.7%14.6%9.9%16.0%2.8%0.7%785.5K17.2M-565.4K0.5177.05N/AN/A45022817,86822,108
2025-05-20$89.77$90.0016.3%4.7%12.3%9.4%14.9%2.8%0.5%784.6K22.2M-556.6K0.1380.97N/AN/A76310118,13422,154
2025-05-21$87.67$90.0018.9%5.4%15.2%17.7%18.7%4.5%1.0%-396.9K44.6M-528.1K0.8580.56N/AN/A36831117,69322,215
2025-05-22$87.29$90.0019.6%5.6%15.0%19.8%17.9%4.6%-1.7%-970.9K49.4M-508.2K13.8278.55N/AN/A3474,79517,48522,295
2025-05-23$87.28$89.0019.9%5.7%14.9%20.6%18.3%4.3%0.0%-1.3M46.7M-503.2K0.7671.42N/AN/A20415617,42523,206
2025-05-27$88.62$89.0016.8%4.8%15.8%11.1%17.2%3.1%1.8%-659.2K32.0M-523.5K0.4578.38N/AN/A36916717,06823,091
2025-05-28$88.39$89.0017.8%5.1%15.7%14.2%16.2%3.2%0.8%-671.1K35.4M-522.4K1.7179.34N/AN/A31854517,23623,155
2025-05-29$89.19$89.0020.9%5.2%15.9%23.8%17.3%4.0%0.5%-246.3K28.4M-541.4K0.2879.29N/AN/A2577217,44123,676
2025-05-30$89.28$89.0017.6%5.1%15.0%13.7%17.0%3.1%0.6%-152.0K26.8M-544.9K0.3878.58N/AN/A26410117,60223,716