VOO Options History — May 2025

In May 2025, VOO traded between $515.90 and $546.01. ATM implied volatility averaged 17.4%, placing in the 21.8% IV rank vs the trailing year. The 30-day expected move averaged 5.0%. IV traded below realized volatility by 8.9% (HV 20d: 26.3%). Max pain ranged from $420.00 to $500.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 10 of 21 days. Put/call ratio averaged 0.72.

Notable Days

  • 2025-05-09: Highest Volume — 14,947 contracts
  • 2025-05-12: Largest IV drop — 19.9% change
  • 2025-05-06: Highest IV Rank — 33.0%
  • 2025-05-01: Largest Expected Move — 6.2%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$533.11$515.90$546.01$516.19$541.92
Max Pain$445.83$420.00$500.00$490.00$420.00
ATM IV17.4%14.8%21.4%20.8%16.3%
Expected Move5.0%4.2%6.2%6.2%4.6%
HV 20d26.3%15.0%53.5%53.5%15.2%
HV 60d33.9%33.5%34.2%33.5%34.0%
IV Rank21.8%14.4%33.0%31.4%18.5%
IV Percentile73.5%57.1%90.1%89.7%68.3%
Term Structure-0.0%-0.8%0.8%-0.0%-0.6%
VWIV18.2%14.0%27.8%22.2%15.9%
Skew 25d5.8%4.0%9.4%7.3%5.6%
Skew 10d12.6%5.6%18.2%14.0%15.8%
Call IV 25d14.8%13.1%17.4%16.8%13.6%
Put IV 25d20.6%17.2%25.8%24.2%19.3%
Bid-Ask Spread %58.6842.4073.7373.7366.63
Gamma HHI0.070.040.180.050.08
Net GEX48.7M21.0M94.7M41.0M55.2M
Net DEX-1.80B-2.35B-1.25B-1.38B-2.01B
Net VEX-5.7M-6.0M-5.3M-5.9M-5.5M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.720.261.590.520.55
Total Volume6,068.0953,04114,9476,7406,634
Total OI125,689.476111,741137,078113,421133,744

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2025-05-01$516.19$490.0020.8%6.2%53.5%31.4%22.2%7.3%-0.0%41.0M-1.38B-5.9M0.5273.734,4322,30854,30459,117
2025-05-02$521.08$492.5019.6%5.6%50.5%27.9%20.3%7.1%0.2%56.6M-1.51B-5.9M1.0672.224,5384,83055,31460,035
2025-05-05$518.77$500.0019.8%5.7%46.8%28.4%21.0%6.9%0.4%27.0M-1.35B-5.9M1.5047.271,8572,78852,83458,907
2025-05-06$515.90$500.0021.4%6.0%45.9%33.0%21.0%7.4%-0.5%22.1M-1.25B-6.0M0.8442.401,7111,44553,67860,893
2025-05-07$517.10$500.0020.4%6.0%44.8%30.2%20.6%9.4%-0.3%25.7M-1.29B-5.9M0.6854.151,8111,23054,13161,804
2025-05-08$521.20$500.0019.1%5.7%29.1%26.6%20.8%6.0%0.8%39.3M-1.42B-5.8M0.4549.414,4852,02554,73862,196
2025-05-09$518.73$500.0019.9%5.4%24.4%28.6%27.8%6.2%0.1%40.2M-1.37B-5.6M0.9548.607,6687,27956,10562,762
2025-05-12$534.05$420.0015.9%4.5%24.6%17.5%16.4%4.9%-0.1%48.4M-1.97B-5.4M0.5264.296,6813,50158,59466,234
2025-05-13$540.90$420.0015.2%4.3%24.6%15.3%15.3%4.0%-0.1%63.8M-2.18B-5.3M0.3458.627,8002,68460,95167,770
2025-05-14$539.28$420.0015.8%4.4%24.4%17.2%15.1%4.6%-0.7%66.4M-2.15B-5.6M0.7056.172,7751,95063,71669,213
2025-05-15$541.58$420.0014.9%4.4%21.2%14.7%14.0%4.8%0.6%72.9M-2.21B-5.6M0.2661.714,8191,25764,56670,244
2025-05-16$545.41$420.0014.8%4.2%21.2%14.4%14.8%4.1%-0.2%94.7M-2.35B-5.6M0.6762.034,1162,77366,49270,586
2025-05-19$546.01$420.0015.7%4.5%16.7%16.8%16.1%4.7%0.1%57.8M-2.08B-5.5M0.6855.322,6601,79760,41766,587
2025-05-20$543.93$420.0015.4%4.4%15.3%15.9%17.1%5.0%-0.5%58.8M-2.03B-5.7M1.0355.081,7531,81061,62267,454
2025-05-21$536.98$420.0017.1%4.9%16.2%20.8%18.1%5.8%-0.8%40.9M-1.82B-5.8M0.9558.702,6832,55362,19568,366
2025-05-22$537.32$420.0017.1%4.9%15.0%20.8%17.2%5.8%0.3%39.0M-1.83B-5.8M0.4160.322,17588362,56069,379
2025-05-23$533.41$420.0018.7%5.4%15.4%25.4%19.0%6.9%-0.1%21.0M-1.68B-5.9M0.6858.703,2452,21462,89869,448
2025-05-27$542.57$420.0016.1%4.5%16.2%18.1%16.3%4.4%0.4%46.7M-2.02B-5.5M0.4160.683,1031,26161,30366,332
2025-05-28$541.00$420.0016.3%4.6%16.4%18.7%16.9%6.2%0.2%51.0M-1.99B-5.5M1.5962.521,6372,59762,89666,832
2025-05-29$541.97$420.0015.8%4.5%16.1%17.2%16.5%5.1%0.1%54.8M-2.00B-5.5M0.3963.652,6411,02163,35468,908
2025-05-30$541.92$420.0016.3%4.6%15.2%18.5%15.9%5.6%-0.6%55.2M-2.01B-5.5M0.5566.634,2872,34764,50869,236