VOO Options History — September 2025

In September 2025, VOO traded between $587.99 and $614.92. ATM implied volatility averaged 12.7%, placing in the 8.5% IV rank vs the trailing year. The 30-day expected move averaged 3.6%. IV traded above realized volatility by 4.1% (HV 20d: 8.6%). Max pain ranged from $550.00 to $585.00. Net GEX was positive for 14 of 21 trading days. Term structure was in contango for 16 of 21 days. Put/call ratio averaged 1.87.

Notable Days

  • 2025-09-18: Highest Volume — 24,419 contracts
  • 2025-09-26: Largest IV drop — 9.1% change
  • 2025-09-02: Highest IV Rank — 12.4%
  • 2025-09-02: Largest Expected Move — 4.2%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$604.03$587.99$614.92$587.99$611.60
Max Pain$562.62$550.00$585.00$585.00$575.00
ATM IV12.7%11.6%14.1%14.1%13.1%
Expected Move3.6%3.4%4.2%4.2%3.5%
HV 20d8.6%6.7%9.6%9.5%6.7%
HV 60d9.3%8.6%10.0%10.0%8.6%
IV Rank8.5%5.4%12.4%12.4%9.6%
IV Percentile25.5%9.1%44.0%43.7%31.0%
Term Structure0.2%-0.2%0.7%-0.1%0.1%
VWIV15.0%12.8%20.0%14.8%13.9%
Skew 25d4.8%4.0%6.4%6.4%5.0%
Skew 10d9.3%1.8%17.7%17.7%10.4%
Call IV 25d10.9%9.2%12.0%11.5%11.3%
Put IV 25d15.8%14.1%17.9%17.9%16.2%
Bid-Ask Spread %70.0041.4778.6352.5476.56
Gamma HHI0.220.140.300.280.30
Net GEX15.6M-79.3M137.4M-51.8M130.4M
Net DEX-1.09B-1.31B-593.8M-593.8M-1.21B
Net VEX-4.8M-5.4M-4.3M-5.0M-4.7M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.870.178.290.720.32
Total Volume8,650.8572,74324,4195,5906,059
Total OI93,593.1976,225114,55084,58176,225

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2025-09-02$587.99$585.0014.1%4.2%9.5%12.4%14.8%6.4%-0.1%-51.8M-593.8M-5.0M0.7252.543,2572,33338,83545,746
2025-09-03$590.49$585.0013.3%3.8%9.4%10.2%13.5%6.3%-0.1%-50.5M-743.6M-5.0M0.9857.481,9271,88640,10546,833
2025-09-04$595.86$550.0012.4%3.6%9.6%7.6%14.9%5.3%0.2%15.1M-1.03B-4.8M0.1774.538,1831,37340,78647,366
2025-09-05$594.52$550.0012.1%3.6%9.6%6.7%14.1%5.0%0.0%-352.5K-936.8M-4.7M0.6472.433,5952,28641,54147,800
2025-09-08$596.07$550.0012.3%3.6%9.3%7.2%14.7%5.0%0.4%-33.8M-991.9M-4.5M0.6173.592,3951,46440,16046,398
2025-09-09$597.51$550.0011.9%3.4%9.3%6.3%16.4%5.4%0.0%4.6M-1.08B-4.5M1.1072.871,3051,43841,26547,149
2025-09-10$599.24$550.0011.8%3.5%8.8%6.0%13.5%4.9%0.4%28.3M-1.14B-4.3M8.2973.622,61221,65441,67347,802
2025-09-11$604.88$550.0011.7%3.4%9.3%5.6%12.8%4.0%0.4%70.0M-1.30B-4.5M0.6370.873,5922,25842,22757,673
2025-09-12$604.82$555.0011.6%3.4%9.3%5.4%15.5%5.0%0.4%137.4M-1.28B-4.6M0.5977.623,6112,12042,81858,532
2025-09-15$606.96$555.0012.5%3.6%9.2%8.0%14.8%4.2%-0.1%31.4M-1.22B-4.6M0.8873.002,5782,25740,56848,964
2025-09-16$607.02$555.0013.2%3.8%9.2%9.7%14.1%4.4%-0.2%30.2M-1.21B-4.6M0.9176.621,9631,79041,35649,674
2025-09-17$606.03$555.0012.6%3.6%8.8%8.1%13.4%4.1%0.2%30.3M-1.19B-4.6M1.1378.633,0943,49141,89850,871
2025-09-18$608.97$555.0012.4%3.6%8.9%7.7%19.0%4.0%0.1%59.5M-1.31B-4.5M6.8376.403,11821,30142,71351,406
2025-09-19$611.79$570.0012.6%3.6%8.5%8.3%13.9%4.1%-0.2%8.6M-1.30B-5.1M0.4477.584,8612,16143,74870,802
2025-09-22$614.92$570.0013.0%3.7%7.1%9.3%13.6%4.4%0.5%21.6M-1.26B-4.8M0.6169.613,8842,37739,63558,405
2025-09-23$611.34$570.0013.5%3.8%7.5%10.8%14.9%4.9%0.4%-35.9M-1.04B-5.4M0.8971.062,7812,48741,25559,615
2025-09-24$608.96$570.0013.3%3.8%7.7%10.1%13.8%4.6%0.7%-42.8M-1.01B-5.2M1.2972.491,9722,54042,24660,356
2025-09-25$606.01$570.0013.9%3.9%7.9%11.9%19.7%5.3%0.6%-79.3M-866.4M-5.2M5.1565.662,79014,37242,72260,681
2025-09-26$609.83$570.0012.7%3.5%8.1%8.3%12.8%4.4%0.7%29.6M-1.15B-4.8M0.3941.474,0741,58843,51154,226
2025-09-29$609.86$575.0013.1%3.5%7.6%9.5%20.0%4.7%0.3%24.3M-1.04B-4.8M6.7865.382,93519,90639,79450,077
2025-09-30$611.60$575.0013.1%3.5%6.7%9.6%13.9%5.0%0.1%130.4M-1.21B-4.7M0.3276.564,5931,46641,24834,977