CME Options History — April 2025 In April 2025, CME traded between $252.63 and $276.06. ATM implied volatility averaged 25.0%, placing in the 41.6% IV rank vs the trailing year. The 30-day expected move averaged 7.0%. IV traded above realized volatility by 1.5% (HV 20d: 23.5%). Max pain ranged from $260.00 to $260.00. Net GEX was positive for 20 of 21 trading days. Term structure was in contango for 4 of 21 days. Put/call ratio averaged 1.39.
Notable Days 2025-04-09 : Highest Volume — 6,888 contracts2025-04-04 : Largest IV spike — 43.4% change2025-04-04 : Highest IV Rank — 100.0%2025-04-08 : Largest Expected Move — 10.1%Monthly Statistics Metric Avg Min Max Open Close Price $262.62 $252.63 $276.06 $263.07 $276.06 Max Pain $260.00 $260.00 $260.00 $260.00 $260.00 ATM IV 25.0% 18.3% 45.5% 20.5% 18.3% Expected Move 7.0% 5.2% 10.1% 6.3% 5.2% HV 20d 23.5% 16.7% 26.7% 17.1% 26.7% HV 60d 19.3% 16.4% 20.5% 16.9% 20.5% IV Rank 41.6% 13.5% 100.0% 45.4% 13.5% IV Percentile 85.7% 43.3% 100.0% 79.8% 43.3% Term Structure -1.6% -4.6% 1.6% 1.6% 0.6% VWIV 25.3% 19.1% 35.6% 22.7% 21.8% Skew 25d 5.7% 2.8% 9.7% 2.8% 5.0% Skew 10d 12.7% 4.7% 31.3% 4.7% 11.8% Call IV 25d 21.6% 17.2% 29.6% 18.6% 17.7% Put IV 25d 27.4% 21.4% 39.3% 21.4% 22.7% Bid-Ask Spread % 79.28 73.83 87.07 77.48 80.26 Gamma HHI 0.26 0.16 0.42 0.29 0.41 Net GEX 9.6M -610.8K 22.2M 12.1M 22.2M Net DEX -256.9M -434.9M -132.3M -279.9M -434.9M Net VEX -1.9M -2.0M -1.8M -1.8M -2.0M Div Yield 0.0% 0.0% 0.0% 0.0% 0.0% P/C Ratio 1.39 0.33 3.92 1.56 0.60 Total Volume 3,218.667 866 6,888 4,372 6,025 Total OI 49,581.095 42,744 54,876 42,744 52,157
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 2025-04-01 $263.07 $260.00 20.5% 6.3% 17.1% 45.4% 22.7% 2.8% 1.6% 12.1M -279.9M -1.8M 1.56 77.48 N/A N/A 1,707 2,665 27,784 14,960 2025-04-02 $262.03 $260.00 20.1% 6.0% 16.7% 42.6% 21.3% 3.6% -0.6% 9.0M -254.2M -1.8M 0.75 80.11 N/A N/A 495 371 28,786 17,061 2025-04-03 $268.69 $260.00 21.3% 6.5% 18.3% 51.5% 23.6% 4.0% -1.5% 15.0M -345.7M -1.9M 0.57 76.61 N/A N/A 3,731 2,133 28,916 17,106 2025-04-04 $257.77 $260.00 30.6% 8.4% 24.2% 100.0% 29.6% 7.2% -3.4% 6.2M -190.3M -1.9M 2.20 78.31 N/A N/A 2,001 4,405 29,670 17,476 2025-04-07 $252.63 $260.00 40.5% 9.3% 23.5% 100.0% 35.6% 9.5% -3.1% 4.7M -137.1M -2.0M 1.77 75.72 N/A N/A 545 962 30,730 18,476 2025-04-08 $254.05 $260.00 45.5% 10.1% 23.6% 100.0% 34.3% 9.7% -4.6% 5.4M -156.0M -2.0M 3.59 76.76 N/A N/A 553 1,987 30,896 18,814 2025-04-09 $253.21 $260.00 25.9% 7.4% 23.2% 37.9% 26.5% 5.7% -4.2% 2.0M -132.3M -1.8M 3.87 87.07 N/A N/A 1,413 5,475 30,992 19,394 2025-04-10 $256.86 $260.00 28.1% 8.1% 23.0% 44.8% 33.5% 5.1% -3.2% 7.2M -197.3M -1.9M 3.92 84.63 N/A N/A 593 2,327 30,959 18,483 2025-04-11 $262.91 $260.00 27.3% 7.8% 24.2% 42.2% 33.1% 7.8% -3.0% 9.9M -256.5M -1.9M 2.34 77.73 N/A N/A 821 1,921 31,167 20,367 2025-04-14 $264.27 $260.00 25.2% 7.2% 23.4% 35.5% 24.9% 7.4% -1.7% 10.5M -279.2M -1.9M 0.55 82.88 N/A N/A 927 509 31,458 21,671 2025-04-15 $264.06 $260.00 24.7% 7.1% 23.1% 34.1% 25.0% 6.1% -2.0% 9.1M -267.7M -1.8M 0.53 81.95 N/A N/A 960 512 31,601 21,826 2025-04-16 $261.05 $260.00 25.6% 7.3% 23.5% 36.8% 24.8% 6.8% -2.1% -610.8K -222.5M -1.9M 0.94 78.98 N/A N/A 1,422 1,338 32,119 22,145 2025-04-17 $264.00 $260.00 24.3% 7.0% 23.8% 32.7% 22.9% 6.1% -1.4% 5.3M -271.1M -1.9M 0.41 79.36 N/A N/A 1,245 512 32,478 22,398 2025-04-21 $260.42 $260.00 26.0% 7.5% 24.2% 38.1% 26.1% 6.4% -2.2% 6.2M -217.6M -1.9M 1.39 81.78 N/A N/A 559 777 26,359 18,678 2025-04-22 $265.22 $260.00 21.9% 6.3% 24.7% 25.1% 20.9% 6.2% -1.1% 7.9M -270.6M -1.8M 0.33 79.94 N/A N/A 4,537 1,492 26,512 18,990 2025-04-23 $260.26 $260.00 21.4% 6.1% 25.7% 23.6% 23.4% 4.5% -0.8% 8.8M -221.1M -1.9M 0.94 73.83 N/A N/A 2,509 2,368 30,333 19,184 2025-04-24 $263.21 $260.00 21.3% 6.1% 26.0% 23.0% 19.9% 4.3% 0.0% 12.3M -271.5M -1.9M 0.75 76.59 N/A N/A 1,075 810 30,708 18,936 2025-04-25 $265.78 $260.00 18.5% 5.3% 26.2% 14.4% 19.1% 4.3% -0.1% 13.1M -284.2M -1.9M 0.71 77.30 N/A N/A 1,158 819 30,816 19,177 2025-04-28 $267.66 $260.00 19.2% 5.5% 26.3% 16.5% 22.2% 4.2% -0.2% 15.8M -319.7M -1.9M 0.78 80.72 N/A N/A 891 697 31,367 19,049 2025-04-29 $271.82 $260.00 19.3% 5.5% 26.5% 16.7% 19.1% 4.2% 0.1% 19.8M -385.6M -1.9M 0.67 76.77 N/A N/A 1,404 941 31,699 19,505 2025-04-30 $276.06 $260.00 18.3% 5.2% 26.7% 13.5% 21.8% 5.0% 0.6% 22.2M -434.9M -2.0M 0.60 80.26 N/A N/A 3,755 2,270 32,021 20,136
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