VOO Options History — December 2025

In December 2025, VOO traded between $618.43 and $634.94. ATM implied volatility averaged 12.8%, placing in the 7.4% IV rank vs the trailing year. The 30-day expected move averaged 3.7%. IV traded above realized volatility by 1.4% (HV 20d: 11.5%). Max pain ranged from $515.00 to $590.00. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 17 of 22 days. Put/call ratio averaged 0.75.

Notable Days

  • 2025-12-22: Highest Volume — 13,630 contracts
  • 2025-12-10: Largest IV drop — 10.2% change
  • 2025-12-01: Highest IV Rank — 14.1%
  • 2025-12-01: Largest Expected Move — 4.3%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$628.91$618.43$634.94$625.94$628.41
Max Pain$556.82$515.00$590.00$515.00$580.00
ATM IV12.8%10.9%14.7%14.7%12.9%
Expected Move3.7%3.0%4.3%4.3%3.5%
HV 20d11.5%8.1%15.0%14.9%8.5%
HV 60d12.1%11.8%12.3%11.9%12.3%
IV Rank7.4%0.2%14.1%14.1%5.7%
IV Percentile23.4%0.4%57.9%57.9%21.4%
Term Structure0.3%-0.4%1.1%0.2%0.1%
VWIV13.6%10.5%17.4%17.4%11.0%
Skew 25d4.4%3.2%5.5%4.8%3.4%
Skew 10d9.8%6.8%13.1%10.0%10.4%
Call IV 25d11.2%9.4%12.6%12.5%10.7%
Put IV 25d15.5%13.2%17.3%17.3%14.1%
Bid-Ask Spread %81.9178.1488.2278.1482.70
Gamma HHI0.100.060.380.070.07
Net GEX87.4M41.7M186.4M79.5M56.0M
Net DEX-1.45B-1.84B-964.4M-1.68B-964.4M
Net VEX-4.2M-4.5M-4.1M-4.5M-4.2M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.750.273.301.050.43
Total Volume4,956.6821,78113,6303,8613,524
Total OI77,999.561,82487,74782,77566,765

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2025-12-01$625.94$515.0014.7%4.3%14.9%14.1%17.4%4.8%0.2%79.5M-1.68B-4.5M1.0578.141,8821,97948,61834,157
2025-12-02$627.56$515.0014.1%3.9%15.0%12.5%13.9%4.9%-0.1%85.8M-1.69B-4.5M1.0479.401,3921,45049,48735,149
2025-12-03$629.39$515.0013.7%3.9%14.5%11.1%13.6%5.5%0.3%89.0M-1.75B-4.5M0.5782.941,26572649,96536,156
2025-12-04$627.84$550.0013.7%4.0%14.5%11.4%14.8%3.5%0.0%87.8M-1.72B-4.5M0.3978.612,00879050,38536,492
2025-12-05$630.44$550.0013.3%4.0%13.8%10.2%14.7%3.8%0.3%127.0M-1.84B-4.3M0.2782.813,24687550,93236,576
2025-12-08$627.66$550.0014.0%4.0%13.9%12.1%15.3%4.2%0.0%73.5M-1.67B-4.1M0.5181.833,6091,84148,47334,642
2025-12-09$628.37$550.0014.1%4.0%12.4%12.5%16.5%4.5%-0.3%77.8M-1.67B-4.2M0.6679.781,07670550,01835,464
2025-12-10$633.13$555.0012.7%3.8%12.7%8.3%13.8%5.0%-0.1%99.3M-1.78B-4.1M0.4588.221,69275350,33035,700
2025-12-11$632.95$555.0012.2%3.6%12.7%6.4%16.3%4.9%0.0%106.3M-1.79B-4.2M0.3481.293,0011,02950,73335,955
2025-12-12$626.40$555.0013.0%3.8%11.8%8.5%13.4%4.2%1.1%57.6M-1.61B-4.1M0.4383.613,3691,46451,66436,083
2025-12-15$626.07$555.0013.3%3.8%11.8%9.4%12.9%4.7%0.2%60.0M-1.58B-4.1M0.6782.467,7585,21448,75435,547
2025-12-16$625.09$555.0013.0%3.8%10.8%8.4%16.4%5.4%0.2%61.7M-1.32B-4.2M1.0683.922,8092,97246,57232,130
2025-12-17$618.43$555.0013.6%3.9%11.5%10.1%14.8%5.0%0.5%41.7M-1.17B-4.2M0.7082.562,9482,06547,00833,094
2025-12-18$623.85$555.0012.9%3.7%11.8%5.8%12.9%4.5%0.4%55.7M-1.32B-4.2M0.4983.453,2361,59648,20733,878
2025-12-19$627.15$555.0012.4%3.5%10.4%4.3%12.5%4.7%-0.4%84.4M-1.47B-4.1M0.7282.295,5213,98449,08334,716
2025-12-22$629.76$590.0011.7%3.3%9.9%2.4%11.1%4.1%0.9%87.1M-965.8M-4.2M3.3080.463,17110,45935,42326,401
2025-12-23$632.63$575.0011.3%3.1%9.0%1.1%12.0%4.1%0.6%118.3M-1.15B-4.1M0.7379.542,0631,50537,18925,789
2025-12-24$634.94$580.0010.9%3.1%8.6%0.2%12.0%4.2%1.0%127.2M-1.24B-4.2M0.3683.742,61693937,96826,541
2025-12-26$634.90$580.0011.3%3.0%8.1%1.4%11.9%3.2%1.0%186.4M-1.27B-4.1M0.5480.463,0981,66638,52426,678
2025-12-29$632.70$580.0012.0%3.1%8.2%3.4%10.5%4.3%-0.0%79.4M-1.09B-4.1M1.2681.012,3262,92436,82125,800
2025-12-30$632.33$580.0012.0%3.1%8.2%3.0%11.5%3.2%0.3%81.4M-1.08B-4.3M0.5582.731,60989237,88928,233
2025-12-31$628.41$580.0012.9%3.5%8.5%5.7%11.0%3.4%0.1%56.0M-964.4M-4.2M0.4382.702,4711,05338,19628,569