CME Options History — August 2025

In August 2025, CME traded between $266.58 and $286.56. ATM implied volatility averaged 19.7%, placing in the 18.2% IV rank vs the trailing year. The 30-day expected move averaged 5.7%. IV traded above realized volatility by 0.6% (HV 20d: 19.1%). Max pain ranged from $260.00 to $270.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 17 of 21 days. Put/call ratio averaged 0.47.

Notable Days

  • 2025-08-12: Highest Volume — 14,160 contracts
  • 2025-08-12: Largest IV spike — 24.7% change
  • 2025-08-12: Highest IV Rank — 32.2%
  • 2025-08-21: Largest Expected Move — 6.0%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$275.55$266.58$286.56$280.92$266.58
Max Pain$268.10$260.00$270.00$270.00$270.00
ATM IV19.7%16.9%24.1%20.0%18.4%
Expected Move5.7%5.3%6.0%5.7%5.3%
HV 20d19.1%14.8%21.5%17.2%20.2%
HV 60d18.9%17.7%20.8%20.3%18.0%
IV Rank18.2%9.2%32.2%19.2%14.1%
IV Percentile58.0%9.9%94.4%67.9%35.3%
Term Structure0.2%-1.4%1.3%0.7%1.3%
VWIV20.2%18.8%22.6%19.8%18.8%
Skew 25d2.4%1.3%3.4%2.3%1.7%
Skew 10d4.7%1.5%8.4%4.5%2.6%
Call IV 25d18.9%18.1%19.5%19.2%18.1%
Put IV 25d21.3%19.8%21.9%21.5%19.8%
Bid-Ask Spread %80.1173.8584.5180.1683.19
Gamma HHI0.200.150.310.240.16
Net GEX12.3M1.3M27.6M18.7M1.5M
Net DEX-194.5M-363.7M-66.8M-274.6M-66.8M
Net VEX-2.1M-2.2M-2.0M-2.1M-2.0M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.470.071.000.390.33
Total Volume2,339.85735614,1601,711616
Total OI53,083.09548,57460,82151,34451,219

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2025-08-01$280.92$270.0020.0%5.7%17.2%19.2%19.8%2.3%0.7%18.7M-274.6M-2.1M0.3980.16N/AN/A1,23247930,01321,331
2025-08-04$286.56$260.0019.1%5.5%16.8%16.2%22.6%3.1%0.1%24.7M-363.7M-2.1M1.0077.80N/AN/A1,5911,59930,27321,488
2025-08-05$285.23$260.0018.0%5.6%14.8%12.8%20.1%2.8%0.1%24.8M-348.7M-2.1M0.1378.97N/AN/A5,00366530,61921,514
2025-08-06$281.31$260.0018.0%5.7%15.8%12.6%20.0%3.0%0.1%20.6M-276.7M-2.1M0.3081.53N/AN/A1,12134032,40421,886
2025-08-07$281.33$260.0018.1%5.9%15.8%13.2%19.6%3.4%-0.4%21.1M-289.8M-2.1M0.6380.19N/AN/A74546733,01221,894
2025-08-08$281.85$270.0016.9%5.6%15.7%9.2%19.7%2.8%0.3%21.9M-287.6M-2.0M0.8576.40N/AN/A65255333,19322,193
2025-08-11$286.08$270.0019.4%5.5%16.5%17.0%21.3%3.1%0.5%27.6M-359.5M-2.1M0.6780.40N/AN/A1,00967333,22422,494
2025-08-12$275.31$270.0024.1%5.7%21.5%32.2%21.1%2.4%0.1%12.8M-187.5M-2.0M0.8183.17N/AN/A7,8156,34533,53622,663
2025-08-13$273.68$270.0020.8%6.0%20.8%21.5%19.7%2.4%-0.2%9.4M-151.6M-2.1M0.2184.51N/AN/A2,50253235,04024,814
2025-08-14$274.44$270.0020.4%5.9%20.8%20.4%20.2%2.1%0.1%10.1M-166.9M-2.2M0.4483.52N/AN/A71631635,46625,012
2025-08-15$273.64$270.0019.9%5.7%20.3%18.6%19.8%2.1%0.3%8.0M-158.5M-2.1M0.4984.32N/AN/A1,12655235,68125,140
2025-08-18$270.80$270.0020.4%5.8%20.6%20.3%20.1%2.3%-0.2%6.2M-126.0M-2.1M0.2773.85N/AN/A1,59242928,40520,169
2025-08-19$271.55$270.0020.5%5.9%20.6%20.8%20.3%2.2%-1.4%7.1M-139.8M-2.1M0.2577.05N/AN/A1,16428728,80420,323
2025-08-20$274.61$270.0020.9%6.0%20.9%21.8%20.7%1.7%0.5%9.6M-170.6M-2.2M0.5979.87N/AN/A39323229,41220,420
2025-08-21$273.56$270.0021.0%6.0%20.8%22.3%20.9%2.4%0.0%9.2M-166.0M-2.2M0.6980.77N/AN/A21114529,50720,470
2025-08-22$268.83$270.0019.4%5.6%21.4%17.2%19.6%2.1%0.7%4.9M-104.0M-2.1M0.3678.34N/AN/A1,49854329,57020,514
2025-08-25$271.19$270.0019.9%5.7%20.5%18.7%19.9%2.2%0.6%6.7M-131.8M-2.1M0.8381.24N/AN/A77164229,67320,768
2025-08-26$271.22$270.0020.1%5.8%20.5%19.4%20.6%2.0%0.2%5.9M-122.6M-2.1M0.2178.68N/AN/A1,04822429,70721,157
2025-08-27$270.89$270.0019.7%5.7%20.1%18.2%19.6%2.4%0.4%5.6M-121.9M-2.1M0.2980.11N/AN/A35610329,57321,233
2025-08-28$266.90$270.0019.0%5.4%20.5%15.8%18.9%1.3%0.7%1.3M-69.9M-2.0M0.0778.18N/AN/A2,65619429,66021,271
2025-08-29$266.58$270.0018.4%5.3%20.2%14.1%18.8%1.7%1.3%1.5M-66.8M-2.0M0.3383.19N/AN/A46415229,94821,271