AMZN Options History — May 2025

In May 2025, AMZN traded between $185.58 and $211.81. ATM implied volatility averaged 30.5%, placing in the 20.0% IV rank vs the trailing year. The 30-day expected move averaged 8.8%. IV traded below realized volatility by 15.5% (HV 20d: 45.9%). Max pain ranged from $180.00 to $190.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 12 of 21 days. Put/call ratio averaged 0.50.

Notable Days

2025-05-02: Highest Volume — 1,552,080 contracts
2025-05-02: Largest IV drop — 25.4% change
2025-05-01: Highest IV Rank — 47.8%
2025-05-01: Largest Expected Move — 14.6%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$200.27	$185.58	$211.81	$191.45	$204.50
Max Pain	$181.90	$180.00	$190.00	$190.00	$185.00
ATM IV	30.5%	27.6%	42.6%	42.6%	28.6%
Expected Move	8.8%	7.8%	14.6%	14.6%	8.2%
HV 20d	45.9%	33.2%	70.5%	70.5%	33.2%
HV 60d	49.2%	47.3%	50.3%	48.0%	49.4%
IV Rank	20.0%	13.5%	47.8%	47.8%	15.7%
IV Percentile	48.6%	38.5%	88.5%	88.5%	39.3%
Term Structure	-0.1%	-1.7%	0.7%	-1.7%	-0.0%
VWIV	31.1%	27.5%	51.2%	51.2%	28.8%
Skew 25d	4.3%	2.9%	5.7%	4.5%	4.3%
Skew 10d	9.0%	5.5%	11.4%	8.8%	10.0%
Call IV 25d	28.6%	26.1%	40.1%	40.1%	27.0%
Put IV 25d	32.9%	29.4%	44.6%	44.6%	31.2%
Bid-Ask Spread %	1.78	1.44	3.50	3.50	1.44
Gamma HHI	0.07	0.05	0.16	0.05	0.10
Net GEX	420.8M	128.8M	735.3M	253.7M	459.7M
Net DEX	-12.80B	-21.72B	-4.53B	-8.94B	-13.66B
Net VEX	-116.8M	-119.2M	-113.1M	-116.4M	-115.0M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.50	0.39	0.66	0.56	0.60
Total Volume	615,693.857	286,683	1,552,080	1,117,141	497,546
Total OI	4,237,096.524	3,957,845	4,583,947	4,156,289	4,158,057

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	$191.45	$190.00	42.6%	14.6%	70.5%	47.8%	51.2%	4.5%	-1.7%	253.7M	-8.94B	-116.4M	0.56	3.50	N/A	N/A	715,877	401,264	2,242,023	1,914,266
2025-05-02	$190.30	$190.00	31.8%	9.4%	60.5%	23.1%	32.9%	5.0%	-0.0%	305.0M	-7.71B	-114.9M	0.49	1.96	N/A	N/A	1,044,120	507,960	2,472,918	2,038,801
2025-05-05	$186.82	$180.00	32.8%	9.4%	60.8%	25.4%	30.9%	5.3%	0.2%	157.8M	-5.11B	-113.1M	0.50	1.55	N/A	N/A	297,613	147,442	2,315,649	1,853,497
2025-05-06	$185.58	$180.00	33.2%	9.5%	60.6%	26.4%	32.9%	5.5%	0.0%	128.8M	-4.53B	-113.9M	0.47	1.62	N/A	N/A	239,783	113,422	2,353,597	1,897,490
2025-05-07	$189.41	$180.00	32.2%	9.1%	59.7%	24.0%	32.0%	5.7%	0.1%	292.6M	-7.35B	-115.4M	0.53	2.42	N/A	N/A	349,669	186,646	2,399,162	1,910,619
2025-05-08	$192.83	$180.00	30.9%	8.8%	44.8%	21.2%	30.7%	4.9%	-0.0%	462.2M	-9.75B	-117.6M	0.49	1.59	N/A	N/A	412,172	203,808	2,434,148	1,944,979
2025-05-09	$193.29	$180.00	30.7%	8.8%	39.8%	20.6%	33.1%	4.8%	0.2%	414.2M	-9.86B	-117.1M	0.44	1.57	N/A	N/A	382,894	167,408	2,457,647	1,978,951
2025-05-12	$208.03	$180.00	27.6%	7.8%	46.3%	13.5%	28.8%	4.0%	-0.3%	610.0M	-19.67B	-117.7M	0.46	1.64	N/A	N/A	768,463	350,215	2,310,555	1,875,960
2025-05-13	$211.81	$180.00	27.9%	7.8%	46.0%	14.2%	27.5%	3.2%	-0.6%	735.3M	-21.72B	-115.8M	0.41	1.68	N/A	N/A	572,263	235,346	2,368,725	1,924,720
2025-05-14	$209.55	$180.00	28.9%	8.1%	45.4%	16.6%	29.3%	3.6%	-0.6%	630.8M	-19.47B	-118.9M	0.48	1.96	N/A	N/A	340,951	163,128	2,420,091	1,972,207
2025-05-15	$204.55	$180.00	28.9%	8.2%	44.1%	16.4%	29.5%	3.3%	-0.4%	468.3M	-15.61B	-118.9M	0.53	1.74	N/A	N/A	510,368	268,312	2,468,018	2,015,633
2025-05-16	$205.16	$180.00	27.8%	7.9%	44.0%	13.9%	27.8%	2.9%	-0.4%	674.7M	-16.51B	-119.0M	0.44	1.76	N/A	N/A	409,841	181,265	2,551,518	2,032,429
2025-05-19	$205.56	$180.00	28.6%	8.2%	41.1%	15.6%	28.5%	3.4%	0.0%	437.0M	-14.65B	-117.3M	0.55	1.51	N/A	N/A	261,719	143,050	2,182,456	1,775,389
2025-05-20	$203.85	$180.00	28.8%	8.2%	40.4%	16.1%	29.9%	3.9%	0.1%	410.9M	-13.44B	-117.3M	0.50	1.62	N/A	N/A	227,866	112,853	2,245,122	1,811,551
2025-05-21	$201.40	$180.00	30.3%	8.7%	38.8%	19.5%	31.3%	4.3%	0.5%	299.7M	-11.76B	-118.5M	0.53	1.93	N/A	N/A	323,786	171,307	2,283,977	1,837,800
2025-05-22	$203.78	$180.00	29.7%	8.5%	37.8%	18.1%	30.0%	3.9%	0.1%	415.0M	-13.58B	-119.2M	0.39	1.59	N/A	N/A	388,682	150,557	2,309,546	1,863,571
2025-05-23	$201.47	$182.50	31.3%	8.9%	38.0%	21.8%	31.5%	5.1%	0.7%	253.6M	-11.98B	-119.0M	0.66	1.81	N/A	N/A	344,419	228,970	2,345,808	1,887,426
2025-05-27	$205.50	$182.50	29.3%	8.4%	38.3%	17.4%	29.4%	4.3%	0.1%	453.0M	-14.72B	-115.5M	0.58	1.45	N/A	N/A	251,339	146,580	2,179,711	1,811,980
2025-05-28	$205.26	$185.00	29.1%	8.3%	38.2%	16.8%	29.1%	4.0%	0.1%	467.3M	-14.29B	-116.6M	0.43	1.55	N/A	N/A	200,266	86,417	2,212,785	1,829,547
2025-05-29	$205.61	$185.00	28.9%	8.3%	36.5%	16.4%	28.6%	4.3%	0.0%	506.5M	-14.53B	-115.7M	0.47	1.55	N/A	N/A	289,078	134,906	2,237,931	1,852,767
2025-05-30	$204.50	$185.00	28.6%	8.2%	33.2%	15.7%	28.8%	4.3%	-0.0%	459.7M	-13.66B	-115.0M	0.60	1.44	N/A	N/A	310,263	187,283	2,278,178	1,879,879