VYM Options History — January 2025

In January 2025, VYM traded between $126.02 and $132.97. ATM implied volatility averaged 12.4%, placing in the 33.7% IV rank vs the trailing year. The 30-day expected move averaged 3.4%. IV traded above realized volatility by 0.5% (HV 20d: 11.9%). Max pain ranged from $120.00 to $129.00. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 12 of 20 days. Put/call ratio averaged 0.40.

Notable Days

2025-01-08: Highest Volume — 9,842 contracts
2025-01-15: Largest IV drop — 42.0% change
2025-01-14: Highest IV Rank — 71.8%
2025-01-13: Largest Expected Move — 4.0%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$130.24	$126.02	$132.97	$127.56	$132.31
Max Pain	$127.60	$120.00	$129.00	$120.00	$129.00
ATM IV	12.4%	10.4%	20.2%	12.9%	12.2%
Expected Move	3.4%	3.0%	4.0%	3.7%	3.5%
HV 20d	11.9%	10.1%	14.6%	11.8%	10.1%
HV 60d	12.5%	11.9%	12.8%	12.2%	12.6%
IV Rank	33.7%	23.6%	71.8%	36.0%	32.5%
IV Percentile	58.2%	29.0%	99.2%	73.8%	59.9%
Term Structure	0.3%	-1.1%	2.5%	-0.5%	-0.0%
VWIV	11.7%	9.9%	14.0%	12.8%	11.9%
Skew 25d	2.9%	-1.3%	6.8%	2.8%	2.5%
Skew 10d	5.0%	-1.3%	8.6%	5.1%	8.6%
Call IV 25d	10.4%	6.1%	12.4%	12.0%	11.2%
Put IV 25d	13.3%	9.8%	15.9%	14.7%	13.6%
Bid-Ask Spread %	68.07	49.93	90.07	90.07	79.76
Gamma HHI	0.45	0.12	0.68	0.12	0.64
Net GEX	16.3M	5.6M	23.0M	5.6M	22.1M
Net DEX	-91.4M	-141.3M	-49.5M	-49.5M	-109.5M
Net VEX	-372.9K	-437.9K	-263.1K	-270.8K	-415.8K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.40	0.02	0.98	0.61	0.35
Total Volume	807.6	53	9,842	410	136
Total OI	19,943.9	14,496	25,433	14,496	19,683

Daily Data (20 trading days)

Date	Price	Max Pain	ATM IV	Exp Move	HV 20d	IV Rank	VWIV	Skew 25d	Term Str	GEX	DEX	VEX	P/C	Spread %	Call Wall	Put Wall	Call Vol	Put Vol	Call OI	Put OI
2025-01-02	$127.56	$120.00	12.9%	3.7%	11.8%	36.0%	12.8%	2.8%	-0.5%	5.6M	-49.5M	-270.8K	0.61	90.07	N/A	N/A	254	156	10,509	3,987
2025-01-03	$128.34	$120.00	11.9%	3.4%	12.1%	31.0%	11.5%	2.3%	0.2%	6.2M	-54.7M	-270.2K	0.17	83.74	N/A	N/A	190	33	10,613	4,132
2025-01-06	$127.94	$129.00	11.8%	3.5%	11.9%	30.7%	11.3%	6.8%	0.5%	6.3M	-52.3M	-263.1K	0.18	69.16	N/A	N/A	238	43	10,703	4,152
2025-01-07	$127.56	$129.00	13.5%	3.6%	11.9%	38.7%	13.0%	3.6%	-1.1%	6.0M	-49.7M	-273.2K	0.77	64.56	N/A	N/A	198	153	10,870	4,173
2025-01-08	$127.78	$128.00	13.3%	3.6%	11.9%	38.1%	11.3%	3.4%	0.7%	6.1M	-50.4M	-271.0K	0.02	56.09	N/A	N/A	9,658	184	10,966	4,317
2025-01-10	$126.02	$128.00	15.2%	3.9%	12.6%	47.1%	13.3%	3.6%	-0.2%	10.8M	-53.8M	-340.9K	0.17	50.91	N/A	N/A	355	60	20,508	4,496
2025-01-13	$127.01	$127.00	14.4%	4.0%	13.1%	43.6%	12.5%	3.6%	-0.2%	12.8M	-60.9M	-346.5K	0.16	49.93	N/A	N/A	219	34	20,579	4,538
2025-01-14	$127.92	$127.00	20.2%	4.0%	13.4%	71.8%	14.0%	3.5%	-0.3%	15.0M	-76.7M	-370.3K	0.59	52.59	N/A	N/A	100	59	20,672	4,556
2025-01-15	$130.00	$128.00	11.7%	3.4%	14.4%	30.0%	11.1%	3.0%	0.1%	20.4M	-106.0M	-402.9K	0.21	58.79	N/A	N/A	391	81	20,700	4,577
2025-01-16	$130.78	$128.00	11.3%	3.2%	14.6%	27.8%	11.0%	3.1%	2.5%	21.6M	-120.3M	-414.2K	0.12	64.49	N/A	N/A	199	23	20,798	4,572
2025-01-17	$131.76	$128.00	11.2%	3.2%	14.6%	27.5%	11.0%	2.8%	-0.0%	19.4M	-141.3M	-425.7K	0.06	63.53	N/A	N/A	1,160	69	20,858	4,575
2025-01-21	$132.77	$128.00	10.5%	3.0%	10.8%	24.1%	10.5%	2.4%	0.7%	19.7M	-116.0M	-419.2K	0.08	56.59	N/A	N/A	868	71	16,786	1,367
2025-01-22	$132.31	$129.00	10.6%	3.0%	10.9%	24.4%	10.4%	2.0%	1.1%	21.8M	-114.5M	-432.1K	0.98	69.91	N/A	N/A	84	82	17,529	1,420
2025-01-23	$132.78	$129.00	10.7%	3.1%	10.9%	25.2%	10.9%	5.6%	-0.1%	22.1M	-119.7M	-437.9K	0.95	69.84	N/A	N/A	58	55	17,595	1,492
2025-01-24	$132.97	$129.00	10.4%	3.0%	10.9%	23.6%	9.9%	2.1%	1.4%	22.1M	-122.6M	-430.5K	0.28	75.38	N/A	N/A	346	96	17,597	1,536
2025-01-27	$132.56	$129.00	12.3%	3.5%	10.8%	33.2%	13.1%	1.1%	0.8%	20.1M	-112.7M	-421.7K	0.96	79.18	N/A	N/A	127	122	17,820	1,545
2025-01-28	$132.03	$129.00	11.6%	3.3%	10.9%	29.6%	12.0%	3.0%	0.2%	22.1M	-103.7M	-416.6K	0.61	62.97	N/A	N/A	33	20	17,821	1,632
2025-01-29	$131.95	$129.00	11.9%	3.4%	10.4%	31.2%	10.0%	-1.3%	0.3%	22.2M	-102.8M	-415.3K	0.43	83.01	N/A	N/A	68	29	17,833	1,749
2025-01-30	$132.40	$129.00	11.3%	3.2%	10.1%	27.9%	11.5%	1.9%	0.6%	23.0M	-110.7M	-420.4K	0.32	80.91	N/A	N/A	76	24	17,855	1,767
2025-01-31	$132.31	$129.00	12.2%	3.5%	10.1%	32.5%	11.9%	2.5%	-0.0%	22.1M	-109.5M	-415.8K	0.35	79.76	N/A	N/A	101	35	17,893	1,790