VNQ Options History — December 2025

In December 2025, VNQ traded between $88.19 and $90.45. ATM implied volatility averaged 14.4%, placing in the 5.3% IV rank vs the trailing year. The 30-day expected move averaged 4.1%. IV traded above realized volatility by 4.6% (HV 20d: 9.8%). Max pain ranged from $90.00 to $96.00. Net GEX was positive for 2 of 22 trading days. Term structure was in contango for 19 of 22 days. Put/call ratio averaged 2.02.

Notable Days

  • 2025-12-10: Highest Volume — 3,318 contracts
  • 2025-12-08: Largest IV spike — 20.5% change
  • 2025-12-08: Highest IV Rank — 14.7%
  • 2025-12-01: Largest Expected Move — 4.8%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$89.33$88.19$90.45$90.45$88.66
Max Pain$92.68$90.00$96.00$91.00$90.00
ATM IV14.4%12.5%17.5%16.6%12.5%
Expected Move4.1%3.6%4.8%4.8%3.6%
HV 20d9.8%6.3%12.2%12.2%6.6%
HV 60d12.7%12.0%13.5%13.5%12.0%
IV Rank5.3%0.0%14.7%12.1%0.0%
IV Percentile11.1%0.0%64.7%46.4%0.0%
Term Structure1.1%-1.3%3.4%-1.3%1.4%
VWIV14.3%11.1%16.8%16.3%12.2%
Skew 25d3.3%1.2%4.5%4.1%4.3%
Skew 10d6.6%2.2%11.3%7.5%5.9%
Call IV 25d12.9%11.2%14.4%14.0%11.6%
Put IV 25d16.2%14.7%18.3%18.1%15.9%
Bid-Ask Spread %79.8360.5988.5961.7583.62
Gamma HHI0.150.110.490.110.11
Net GEX-1.8M-8.1M378.9K378.9K-1.3M
Net DEX48.7M32.5M71.4M36.1M34.2M
Net VEX-421.5K-453.6K-383.0K-417.7K-451.3K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio2.020.1818.631.320.96
Total Volume9251833,3181,239605
Total OI44,459.40938,86948,12744,46840,412

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2025-12-01$90.45$91.0016.6%4.8%12.2%12.1%16.3%4.1%-1.3%378.9K36.1M-417.7K1.3261.75N/AN/A53470514,66729,801
2025-12-02$90.23$91.0015.9%4.6%12.0%9.8%16.8%3.8%-0.5%249.7K40.2M-413.7K1.6765.09N/AN/A16026715,01830,465
2025-12-03$90.19$91.0015.3%4.4%11.9%8.1%15.7%4.5%-0.8%-47.4K41.7M-405.6K0.6660.59N/AN/A21614215,04230,572
2025-12-04$89.94$96.0015.6%4.4%12.0%9.0%15.6%3.7%1.4%-171.4K41.1M-412.3K0.2483.60N/AN/A80919415,08130,674
2025-12-05$90.09$96.0014.5%4.2%11.9%5.7%14.9%2.4%1.6%-75.7K39.5M-409.0K0.6788.59N/AN/A1318815,10930,675
2025-12-08$89.31$96.0017.5%4.4%11.8%14.7%15.8%4.0%1.5%-494.7K47.7M-395.3K0.2583.93N/AN/A61315215,18530,740
2025-12-09$89.09$96.0016.8%4.5%11.6%12.5%16.3%3.4%0.8%-935.8K51.9M-390.7K3.3884.62N/AN/A18662814,83630,832
2025-12-10$89.56$96.0014.4%4.1%11.4%5.5%15.7%2.8%1.4%-1.3M50.2M-383.0K18.6386.31N/AN/A1693,14914,84631,338
2025-12-11$89.59$93.0014.3%4.1%11.3%5.0%16.2%2.9%1.6%-1.9M56.4M-447.8K1.4784.06N/AN/A11416814,93332,617
2025-12-12$89.41$93.0015.2%4.3%10.2%7.6%14.0%2.9%1.3%-2.2M59.3M-428.0K0.5285.71N/AN/A1879814,96532,704
2025-12-15$89.66$93.0014.5%4.2%10.2%5.6%15.0%2.8%1.7%-2.6M58.3M-418.1K1.1081.15N/AN/A18520414,92032,732
2025-12-16$89.28$93.0013.9%4.0%9.6%3.7%13.6%2.5%3.4%-3.3M64.2M-401.9K1.4885.36N/AN/A26539114,93032,774
2025-12-17$89.53$93.0013.2%3.8%9.5%1.6%11.1%1.2%2.9%-3.3M61.1M-406.3K1.3983.98N/AN/A33646814,88832,675
2025-12-18$89.22$93.0014.4%4.1%9.1%5.5%14.6%3.7%1.2%-3.7M62.9M-411.2K7.2280.69N/AN/A2902,09514,94732,983
2025-12-19$88.77$93.0013.4%3.8%9.3%2.3%14.0%3.4%0.1%-8.1M67.6M-421.2K0.9980.54N/AN/A1,2101,19714,95133,176
2025-12-22$88.19$95.0013.7%3.9%8.4%3.1%12.9%3.4%0.5%-2.3M71.4M-429.3K0.1873.80N/AN/A1,36925111,13829,978
2025-12-23$88.20$90.0013.0%3.7%8.4%1.1%12.7%3.2%1.6%-1.9M42.9M-444.9K0.3577.92N/AN/A41114511,78627,083
2025-12-24$88.84$90.0012.8%3.7%7.4%0.5%13.4%3.7%1.1%-1.5M37.3M-453.6K0.6481.92N/AN/A27817912,05627,213
2025-12-26$88.80$90.0013.0%3.7%7.0%1.2%13.9%3.9%0.7%-1.7M39.0M-451.4K0.7382.68N/AN/A1067712,23027,356
2025-12-29$88.97$90.0012.7%3.6%7.1%0.2%12.1%3.3%1.2%-1.4M35.2M-441.2K0.2880.17N/AN/A85724412,30527,356
2025-12-30$89.23$90.0013.2%3.8%6.3%1.6%11.9%3.5%0.5%-1.1M32.5M-440.5K0.2780.12N/AN/A37510212,75027,368
2025-12-31$88.66$90.0012.5%3.6%6.6%0.0%12.2%4.3%1.4%-1.3M34.2M-451.3K0.9683.62N/AN/A30829712,99627,416