AAXJ Options History — May 2025

In May 2025, AAXJ traded between $74.14 and $78.71. ATM implied volatility averaged 13.6%, placing in the 14.5% IV rank vs the trailing year. The 30-day expected move averaged 3.8%. IV traded below realized volatility by 8.9% (HV 20d: 22.5%). Max pain ranged from $63.00 to $69.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 12 of 21 days. Put/call ratio averaged 0.00.

Notable Days

2025-05-12: Highest Volume — 19 contracts
2025-05-15: Largest IV drop — 31.5% change
2025-05-09: Highest IV Rank — 26.2%
2025-05-07: Largest Expected Move — 6.3%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$77.61	$74.14	$78.71	$74.14	$77.59
Max Pain	$68.38	$63.00	$69.00	$63.00	$69.00
ATM IV	13.6%	10.6%	17.9%	16.3%	11.4%
Expected Move	3.8%	2.9%	6.3%	4.7%	3.3%
HV 20d	22.5%	14.7%	46.0%	45.7%	15.9%
HV 60d	30.6%	29.4%	31.1%	30.0%	29.4%
IV Rank	14.5%	6.4%	26.2%	21.8%	8.5%
IV Percentile	39.3%	9.9%	72.2%	63.5%	19.8%
Term Structure	1.3%	-7.3%	9.1%	9.1%	4.1%
VWIV	25.8%	14.4%	32.1%	14.4%	26.4%
Skew 25d	-1.3%	-5.6%	2.1%	2.1%	-2.4%
Skew 10d	1.1%	-10.1%	51.2%	-2.0%	-2.0%
Call IV 25d	13.5%	11.3%	16.8%	12.7%	14.1%
Put IV 25d	12.2%	9.3%	15.2%	14.8%	11.7%
Bid-Ask Spread %	119.97	106.77	131.41	107.96	128.11
Gamma HHI	0.37	0.34	0.46	0.34	0.36
Net GEX	15.3K	12.7K	18.8K	15.8K	18.8K
Net DEX	-357.7K	-433.6K	-264.5K	-264.5K	-413.7K
Net VEX	-865	-925	-783	-903	-873
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.00	0.00	0.00	0.00	0.00
Total Volume	3	0	19	0	6
Total OI	87.333	75	102	75	102

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	Spread %	Call Wall	Put Wall	Call Vol	Put Vol	Call OI	Put OI
2025-05-01	$74.14	$63.00	16.3%	4.7%	45.7%	21.8%	0.0%	2.1%	9.1%	15.8K	-264.5K	-903	107.96	N/A	N/A	0	0	62	13
2025-05-02	$76.31	$63.00	12.7%	3.6%	46.0%	12.1%	0.0%	1.7%	7.5%	13.2K	-318.9K	-852	120.90	N/A	N/A	2	0	62	13
2025-05-05	$77.16	$69.00	13.3%	3.5%	41.3%	13.6%	0.0%	-1.0%	3.7%	13.2K	-327.8K	-886	116.36	N/A	N/A	0	0	63	13
2025-05-06	$76.84	$69.00	15.5%	4.8%	36.3%	19.6%	0.0%	-1.6%	-3.1%	12.7K	-331.3K	-846	114.68	N/A	N/A	0	0	63	13
2025-05-07	$76.03	$69.00	14.9%	6.3%	35.3%	18.1%	0.0%	1.6%	-3.9%	13.6K	-307.4K	-891	106.77	N/A	N/A	0	0	63	13
2025-05-08	$75.66	$69.00	15.3%	3.6%	23.9%	19.1%	0.0%	-1.6%	3.9%	15.1K	-291.6K	-906	116.57	N/A	N/A	0	0	63	13
2025-05-09	$76.05	$69.00	17.9%	5.3%	20.7%	26.2%	0.0%	1.4%	0.9%	14.4K	-314.8K	-846	114.33	N/A	N/A	0	0	63	13
2025-05-12	$78.00	$69.00	15.7%	2.9%	18.3%	20.2%	0.0%	-1.6%	4.0%	13.4K	-354.5K	-783	114.57	N/A	N/A	19	0	63	13
2025-05-13	$78.25	$69.00	17.7%	3.2%	18.1%	25.6%	14.4%	-2.0%	2.3%	15.9K	-389.7K	-823	116.03	N/A	N/A	3	0	82	13
2025-05-14	$78.70	$69.00	16.4%	4.7%	17.8%	22.1%	0.0%	1.1%	1.0%	15.1K	-393.6K	-919	122.94	N/A	N/A	0	2	83	13
2025-05-15	$78.57	$69.00	11.2%	3.2%	16.1%	8.0%	0.0%	-2.0%	-1.6%	16.0K	-390.6K	-925	121.63	N/A	N/A	0	0	83	13
2025-05-16	$78.63	$69.00	10.9%	3.1%	16.0%	7.1%	0.0%	0.2%	4.4%	16.3K	-398.9K	-874	123.63	N/A	N/A	2	0	83	13
2025-05-19	$78.71	$69.00	11.6%	3.3%	15.7%	9.2%	0.0%	-2.5%	-0.9%	14.6K	-364.1K	-787	131.41	N/A	N/A	0	0	79	10
2025-05-20	$78.54	$69.00	11.6%	3.3%	15.2%	9.1%	0.0%	-0.5%	3.2%	17.0K	-370.2K	-864	123.15	N/A	N/A	2	0	79	10
2025-05-21	$78.61	$69.00	11.7%	3.3%	15.1%	9.3%	0.0%	-2.6%	-1.1%	14.7K	-376.4K	-832	128.33	N/A	N/A	0	1	81	10
2025-05-22	$78.41	$69.00	12.4%	3.5%	15.0%	11.2%	0.0%	-2.6%	5.6%	15.4K	-366.2K	-892	120.24	N/A	N/A	0	0	81	11
2025-05-23	$78.64	$69.00	10.6%	3.0%	14.7%	6.4%	0.0%	-5.6%	-0.3%	16.6K	-368.4K	-861	120.22	N/A	N/A	4	0	81	11
2025-05-27	$78.42	$69.00	11.6%	3.3%	14.9%	9.2%	0.0%	-3.1%	-1.1%	15.2K	-366.2K	-829	124.40	N/A	N/A	0	0	83	11
2025-05-28	$78.07	$69.00	12.0%	3.4%	15.1%	10.1%	32.1%	-3.6%	-2.5%	17.2K	-368.5K	-918	126.07	N/A	N/A	8	0	83	11
2025-05-29	$78.45	$68.00	14.8%	4.2%	15.2%	17.8%	30.1%	-2.4%	-7.3%	17.5K	-433.6K	-859	121.02	N/A	N/A	14	0	91	11
2025-05-30	$77.59	$69.00	11.4%	3.3%	15.9%	8.5%	26.4%	-2.4%	4.1%	18.8K	-413.7K	-873	128.11	N/A	N/A	6	0	91	11