VYM Options History — September 2025

In September 2025, VYM traded between $137.98 and $142.04. ATM implied volatility averaged 11.6%, placing in the 7.6% IV rank vs the trailing year. The 30-day expected move averaged 3.3%. IV traded above realized volatility by 3.4% (HV 20d: 8.2%). Max pain ranged from $129.00 to $136.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 19 of 21 days. Put/call ratio averaged 0.31.

Notable Days

  • 2025-09-23: Highest Volume — 833 contracts
  • 2025-09-04: Largest IV drop — 10.5% change
  • 2025-09-02: Highest IV Rank — 13.4%
  • 2025-09-02: Largest Expected Move — 4.0%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$140.33$137.98$142.04$138.51$140.87
Max Pain$132.48$129.00$136.00$135.00$136.00
ATM IV11.6%10.6%14.1%14.1%11.5%
Expected Move3.3%3.0%4.0%4.0%3.3%
HV 20d8.2%6.9%8.9%8.3%7.3%
HV 60d9.1%8.3%9.5%9.4%8.3%
IV Rank7.6%5.2%13.4%13.4%7.3%
IV Percentile29.6%11.9%67.5%67.5%28.2%
Term Structure0.9%-2.1%1.8%-2.1%1.0%
VWIV11.5%9.9%14.8%14.8%10.7%
Skew 25d3.1%-2.4%6.5%5.1%3.4%
Skew 10d6.4%1.5%9.6%6.7%6.1%
Call IV 25d10.2%7.7%11.3%11.3%10.1%
Put IV 25d13.3%7.4%16.4%16.4%13.5%
Bid-Ask Spread %81.5274.8591.2177.7974.85
Gamma HHI0.350.220.430.260.42
Net GEX22.3M15.9M25.7M17.2M24.8M
Net DEX-136.0M-167.4M-100.4M-112.2M-132.6M
Net VEX-421.6K-462.0K-363.1K-456.8K-367.7K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.310.080.900.290.22
Total Volume259.23850833126191
Total OI24,950.57124,16325,59324,86024,567

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2025-09-02$138.51$135.0014.1%4.0%8.3%13.4%14.8%5.1%-2.1%17.2M-112.2M-456.8K0.2977.79N/AN/A982822,0412,819
2025-09-03$137.98$135.0013.2%3.8%8.5%11.4%14.1%4.8%-1.8%15.9M-100.4M-420.0K0.1181.52N/AN/A1731922,1072,839
2025-09-04$139.14$129.0011.8%3.2%8.8%8.1%11.2%6.5%1.5%19.1M-122.1M-450.0K0.1383.07N/AN/A2923822,1542,840
2025-09-05$139.50$129.0011.9%3.3%8.8%8.3%11.1%3.6%1.1%19.5M-129.0M-462.0K0.1889.24N/AN/A1913522,2832,840
2025-09-08$139.30$129.0012.3%3.2%8.8%9.0%10.9%3.6%1.5%19.4M-121.1M-418.7K0.0875.35N/AN/A1421122,3292,869
2025-09-09$139.63$129.0011.5%3.1%8.8%7.2%12.1%3.4%1.8%20.6M-128.2M-431.3K0.9080.26N/AN/A726522,3812,874
2025-09-10$140.59$129.0010.8%3.1%8.4%5.6%9.9%4.0%1.6%22.8M-139.1M-432.9K0.1084.80N/AN/A2772922,4072,852
2025-09-11$142.04$129.0010.7%3.1%8.7%5.3%11.1%3.4%1.2%25.7M-167.4M-452.6K0.1582.58N/AN/A4106222,4762,871
2025-09-12$141.55$130.0011.1%3.2%8.9%6.4%11.5%-2.4%0.7%24.5M-162.5M-450.2K0.4691.21N/AN/A763522,6072,889
2025-09-15$141.15$130.0011.2%3.2%8.9%6.5%11.6%3.2%1.5%24.3M-153.6M-429.9K0.1881.15N/AN/A2825122,6102,899
2025-09-16$140.97$130.0011.6%3.3%8.9%7.5%11.4%2.7%1.5%23.3M-149.5M-435.3K0.0883.13N/AN/A5694622,5972,915
2025-09-17$141.15$130.0011.5%3.3%8.9%7.3%11.3%-0.3%1.5%24.6M-150.9M-430.5K0.6190.85N/AN/A21012922,5762,924
2025-09-18$141.46$130.0011.4%3.3%8.8%7.0%11.1%2.7%1.2%24.7M-157.2M-428.2K0.0984.78N/AN/A2031822,6402,953
2025-09-19$140.65$136.0011.3%3.2%8.9%6.8%11.6%3.4%0.6%23.2M-138.2M-421.2K0.8180.72N/AN/A21917721,5772,938
2025-09-22$140.26$136.0011.9%3.4%7.2%8.3%12.2%3.6%0.6%22.5M-127.7M-399.3K0.4476.77N/AN/A1074721,5172,646
2025-09-23$140.54$136.0011.4%3.3%6.9%7.1%11.5%3.4%1.1%23.2M-137.5M-410.3K0.0878.96N/AN/A7745921,5882,684
2025-09-24$140.45$136.0011.9%3.4%6.9%8.3%10.7%2.1%0.7%23.7M-136.0M-403.9K0.5980.48N/AN/A462721,6572,739
2025-09-25$139.75$136.0011.6%3.3%7.0%7.6%12.2%2.7%0.7%20.8M-129.7M-401.0K0.6582.00N/AN/A513321,6782,768
2025-09-26$140.79$136.0010.9%3.1%7.4%6.0%10.7%3.0%1.2%24.7M-134.2M-389.3K0.1975.96N/AN/A42821,6952,792
2025-09-29$140.56$136.0010.6%3.0%7.4%5.2%10.5%2.7%1.5%23.6M-127.5M-363.1K0.2476.55N/AN/A822021,7302,794
2025-09-30$140.87$136.0011.5%3.3%7.3%7.3%10.7%3.4%1.0%24.8M-132.6M-367.7K0.2274.85N/AN/A1563521,7612,806