CORN Options History — February 2025

In February 2025, CORN traded between $19.06 and $20.55. ATM implied volatility averaged 19.5%, placing in the 29.0% IV rank vs the trailing year. The 30-day expected move averaged 5.3%. IV traded above realized volatility by 3.7% (HV 20d: 15.8%). Max pain ranged from $18.00 to $20.00. Net GEX was positive for 19 of 19 trading days. Term structure was in contango for 12 of 19 days. Put/call ratio averaged 0.35.

Notable Days

2025-02-18: Highest Volume — 2,207 contracts
2025-02-10: Largest IV spike — 56.4% change
2025-02-10: Highest IV Rank — 54.7%
2025-02-14: Largest Expected Move — 5.9%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$20.08	$19.06	$20.55	$19.98	$19.06
Max Pain	$18.37	$18.00	$20.00	$18.00	$19.00
ATM IV	19.5%	14.6%	28.3%	20.4%	17.7%
Expected Move	5.3%	4.2%	5.9%	5.8%	5.1%
HV 20d	15.8%	13.9%	19.0%	19.0%	16.7%
HV 60d	14.8%	14.4%	16.1%	14.6%	16.1%
IV Rank	29.0%	14.8%	54.7%	31.5%	23.6%
IV Percentile	50.5%	14.7%	98.0%	61.9%	33.3%
Term Structure	2.0%	-9.6%	14.8%	-9.6%	3.6%
VWIV	18.7%	16.2%	21.7%	17.0%	17.5%
Skew 25d	-0.8%	-6.6%	6.7%	-3.8%	-2.6%
Skew 10d	3.3%	-8.4%	15.0%	-6.5%	-2.5%
Call IV 25d	18.4%	15.2%	21.1%	20.6%	18.8%
Put IV 25d	17.6%	12.9%	23.0%	16.8%	16.1%
Bid-Ask Spread %	103.22	94.76	111.65	103.06	110.86
Gamma HHI	0.33	0.25	0.43	0.28	0.32
Net GEX	244.5K	153.1K	287.8K	246.6K	159.4K
Net DEX	-4.1M	-5.8M	-1.6M	-3.8M	-1.6M
Net VEX	-13.3K	-18.0K	-10.0K	-10.2K	-14.5K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.35	0.01	1.76	0.17	0.39
Total Volume	359.579	56	2,207	559	217
Total OI	5,239.263	4,478	6,465	4,574	5,223

Daily Data (19 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
2025-02-03	$19.98	$18.00	20.4%	5.8%	19.0%	31.5%	17.0%	-3.8%	-9.6%	246.6K	-3.8M	-10.2K	0.17	103.06	N/A	N/A	479	80	4,018	556
2025-02-04	$20.13	$18.00	19.9%	5.7%	17.5%	30.2%	19.8%	-2.7%	-1.5%	243.0K	-4.0M	-10.0K	0.03	111.65	N/A	N/A	415	14	3,980	624
2025-02-05	$20.15	$18.00	19.1%	5.5%	17.3%	27.6%	19.1%	-3.1%	-0.1%	262.9K	-4.2M	-10.9K	0.13	99.86	N/A	N/A	392	49	4,308	626
2025-02-06	$20.26	$18.00	21.1%	5.7%	17.3%	33.7%	19.7%	0.7%	-0.5%	267.9K	-4.9M	-12.1K	1.76	94.76	N/A	N/A	33	58	4,610	654
2025-02-07	$20.00	$18.00	18.1%	5.4%	17.9%	24.8%	19.9%	-6.6%	-1.0%	271.5K	-4.4M	-11.4K	0.27	102.87	N/A	N/A	44	12	4,582	677
2025-02-10	$20.18	$18.00	28.3%	4.2%	15.6%	54.7%	16.9%	-4.1%	9.9%	275.0K	-4.5M	-11.8K	0.21	103.34	N/A	N/A	89	19	4,568	685
2025-02-11	$19.99	$18.00	18.8%	4.2%	15.5%	27.0%	18.8%	-4.0%	6.2%	268.0K	-4.4M	-11.0K	1.59	102.87	N/A	N/A	49	78	4,560	684
2025-02-12	$20.20	$18.00	14.6%	4.2%	15.7%	14.8%	18.2%	-2.7%	9.3%	254.4K	-4.5M	-10.8K	0.22	107.06	N/A	N/A	122	27	4,502	744
2025-02-13	$20.23	$18.00	19.6%	5.6%	15.7%	29.2%	18.1%	1.0%	-0.1%	287.8K	-4.7M	-10.6K	0.03	103.11	N/A	N/A	96	3	4,499	732
2025-02-14	$20.32	$18.00	20.4%	5.9%	14.9%	31.7%	18.9%	6.7%	0.2%	283.2K	-4.8M	-11.2K	0.24	104.40	N/A	N/A	45	11	4,568	734
2025-02-18	$20.55	$18.00	19.1%	5.5%	14.4%	27.6%	18.6%	-0.4%	2.9%	245.9K	-5.4M	-10.8K	0.01	103.07	N/A	N/A	2,187	20	4,584	736
2025-02-19	$20.45	$18.00	19.8%	5.7%	14.2%	29.9%	18.1%	2.5%	0.1%	286.5K	-5.8M	-18.0K	0.07	102.60	N/A	N/A	380	25	5,713	752
2025-02-20	$20.53	$18.00	18.4%	5.3%	13.9%	25.8%	18.6%	3.0%	14.8%	278.2K	-5.5M	-17.4K	0.01	101.67	N/A	N/A	139	2	5,643	774
2025-02-21	$20.27	$18.00	18.1%	5.2%	14.6%	24.8%	16.2%	-2.3%	0.8%	244.8K	-5.3M	-17.1K	0.37	104.83	N/A	N/A	158	58	5,606	776
2025-02-24	$20.00	$18.00	20.3%	5.8%	15.2%	31.2%	21.7%	-0.8%	-0.7%	217.4K	-3.1M	-16.2K	0.15	103.26	N/A	N/A	303	46	4,214	347
2025-02-25	$19.96	$20.00	19.5%	5.6%	15.1%	29.0%	19.5%	2.0%	1.3%	203.6K	-2.6M	-16.0K	0.80	103.60	N/A	N/A	251	201	4,064	414
2025-02-26	$19.88	$20.00	19.3%	5.5%	14.9%	28.3%	19.3%	0.9%	1.2%	196.7K	-2.6M	-16.7K	0.19	99.52	N/A	N/A	57	11	4,275	602
2025-02-27	$19.44	$20.00	18.7%	5.4%	15.6%	26.5%	18.9%	1.6%	0.8%	153.1K	-1.9M	-15.5K	0.07	98.82	N/A	N/A	621	41	4,300	612
2025-02-28	$19.06	$19.00	17.7%	5.1%	16.7%	23.6%	17.5%	-2.6%	3.6%	159.4K	-1.6M	-14.5K	0.39	110.86	N/A	N/A	156	61	4,611	612