VYM Options History — May 2025

In May 2025, VYM traded between $124.56 and $130.08. ATM implied volatility averaged 15.0%, placing in the 20.8% IV rank vs the trailing year. The 30-day expected move averaged 4.3%. IV traded below realized volatility by 6.2% (HV 20d: 21.3%). Max pain ranged from $120.00 to $126.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 7 of 21 days. Put/call ratio averaged 0.71.

Notable Days

2025-05-12: Highest Volume — 705 contracts
2025-05-13: Largest IV drop — 15.9% change
2025-05-06: Highest IV Rank — 25.9%
2025-05-06: Largest Expected Move — 5.0%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$127.61	$124.56	$130.08	$124.56	$129.05
Max Pain	$123.95	$120.00	$126.00	$120.00	$126.00
ATM IV	15.0%	12.1%	17.3%	17.1%	15.0%
Expected Move	4.3%	3.5%	5.0%	4.9%	4.3%
HV 20d	21.3%	11.8%	44.0%	44.0%	13.4%
HV 60d	27.5%	27.2%	27.9%	27.2%	27.8%
IV Rank	20.8%	14.3%	25.9%	25.4%	20.8%
IV Percentile	70.5%	41.3%	84.5%	82.9%	72.2%
Term Structure	-0.3%	-1.6%	1.9%	-0.4%	0.1%
VWIV	15.0%	12.3%	18.4%	15.6%	14.3%
Skew 25d	4.8%	2.9%	7.4%	5.5%	6.3%
Skew 10d	9.6%	5.8%	15.9%	10.4%	8.5%
Call IV 25d	12.8%	8.4%	15.0%	14.4%	11.0%
Put IV 25d	17.6%	14.7%	21.3%	19.8%	17.3%
Bid-Ask Spread %	79.31	58.89	95.83	89.44	92.66
Gamma HHI	0.50	0.46	0.56	0.47	0.55
Net GEX	15.3M	10.1M	19.9M	10.1M	19.9M
Net DEX	-83.3M	-119.2M	-54.3M	-54.3M	-94.1M
Net VEX	-479.4K	-516.2K	-444.4K	-454.5K	-474.4K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.71	0.05	1.89	0.86	0.15
Total Volume	206.571	55	705	143	68
Total OI	24,812.952	24,267	25,583	24,462	24,887

Daily Data (21 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
2025-05-01	$124.56	$120.00	17.1%	4.9%	44.0%	25.4%	15.6%	5.5%	-0.4%	10.1M	-54.3M	-454.5K	0.86	89.44	N/A	N/A	77	66	21,326	3,136
2025-05-02	$126.01	$120.00	15.5%	4.4%	41.8%	21.9%	15.6%	3.9%	1.9%	11.1M	-65.4M	-480.4K	0.37	82.73	N/A	N/A	142	52	21,355	3,173
2025-05-05	$125.50	$122.00	15.2%	4.9%	37.2%	21.2%	16.8%	4.9%	-0.1%	11.2M	-66.7M	-484.0K	0.57	63.99	N/A	N/A	58	33	21,434	3,189
2025-05-06	$124.91	$123.00	17.3%	5.0%	36.4%	25.9%	16.8%	7.4%	-1.0%	10.5M	-56.1M	-449.2K	0.92	58.89	N/A	N/A	51	47	21,474	3,206
2025-05-07	$125.37	$123.00	15.2%	4.9%	35.2%	21.2%	18.4%	5.9%	0.0%	11.0M	-58.5M	-453.7K	0.42	92.42	N/A	N/A	59	25	21,509	3,225
2025-05-08	$126.25	$123.00	16.2%	4.7%	23.8%	23.4%	15.0%	6.1%	-0.9%	12.4M	-74.7M	-491.8K	0.32	69.04	N/A	N/A	173	55	21,545	3,250
2025-05-09	$125.70	$123.00	17.0%	4.9%	19.4%	25.1%	16.4%	4.8%	-1.3%	11.9M	-65.3M	-468.3K	0.35	67.67	N/A	N/A	72	25	21,654	3,265
2025-05-12	$128.39	$123.00	16.7%	4.3%	18.4%	24.5%	13.9%	3.3%	-1.2%	15.6M	-97.2M	-495.7K	0.28	77.33	N/A	N/A	549	156	21,677	3,279
2025-05-13	$128.79	$124.00	14.1%	3.8%	18.1%	18.7%	13.5%	2.9%	0.3%	17.3M	-101.3M	-500.7K	0.46	80.02	N/A	N/A	102	47	21,957	3,282
2025-05-14	$127.61	$124.00	14.1%	4.0%	18.3%	18.8%	13.9%	2.9%	-1.6%	15.8M	-87.0M	-489.6K	0.80	81.11	N/A	N/A	76	61	21,995	3,272
2025-05-15	$128.97	$124.00	13.5%	3.9%	17.2%	17.4%	12.5%	6.9%	0.6%	17.7M	-105.0M	-503.3K	0.05	80.87	N/A	N/A	551	29	22,032	3,306
2025-05-16	$129.80	$125.00	12.1%	3.5%	17.2%	14.3%	13.4%	3.7%	0.2%	18.6M	-119.2M	-513.7K	0.28	75.81	N/A	N/A	303	84	22,261	3,322
2025-05-19	$130.08	$125.00	13.7%	3.9%	13.7%	17.9%	13.9%	4.0%	0.1%	17.5M	-110.9M	-516.2K	1.83	71.11	N/A	N/A	123	225	21,348	2,919
2025-05-20	$129.98	$125.00	13.9%	4.0%	11.8%	18.2%	12.3%	4.0%	-0.4%	18.4M	-110.9M	-515.4K	0.27	76.06	N/A	N/A	89	24	21,433	3,009
2025-05-21	$128.03	$125.00	15.7%	4.5%	13.5%	22.3%	16.1%	4.3%	-1.1%	15.2M	-83.3M	-484.5K	1.65	78.75	N/A	N/A	78	129	21,500	3,024
2025-05-22	$127.60	$125.00	14.9%	4.3%	12.9%	20.5%	15.5%	5.8%	-0.1%	15.3M	-74.6M	-463.5K	0.74	82.51	N/A	N/A	123	91	21,557	3,052
2025-05-23	$127.27	$125.00	16.2%	4.7%	13.0%	23.5%	16.2%	4.8%	-1.0%	15.0M	-65.3M	-444.4K	1.89	82.13	N/A	N/A	55	104	21,658	3,082
2025-05-27	$128.96	$126.00	14.0%	4.0%	13.6%	18.5%	15.2%	5.2%	-0.1%	18.9M	-91.9M	-471.6K	0.47	81.03	N/A	N/A	136	64	21,673	3,110
2025-05-28	$128.25	$126.00	14.4%	4.1%	13.8%	19.4%	13.5%	4.2%	-0.4%	18.4M	-82.4M	-456.7K	0.83	95.83	N/A	N/A	30	25	21,731	3,106
2025-05-29	$128.72	$126.00	13.5%	3.9%	13.6%	17.5%	15.4%	4.0%	-0.0%	19.4M	-85.4M	-455.0K	1.45	86.18	N/A	N/A	33	48	21,730	3,129
2025-05-30	$129.05	$126.00	15.0%	4.3%	13.4%	20.8%	14.3%	6.3%	0.1%	19.9M	-94.1M	-474.4K	0.15	92.66	N/A	N/A	59	9	21,732	3,155