CORN Options History — May 2025

In May 2025, CORN traded between $17.95 and $18.78. ATM implied volatility averaged 21.5%, placing in the 25.5% IV rank vs the trailing year. The 30-day expected move averaged 6.2%. IV traded above realized volatility by 7.8% (HV 20d: 13.7%). Max pain ranged from $18.00 to $19.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 18 of 21 days. Put/call ratio averaged 0.42.

Notable Days

  • 2025-05-12: Highest Volume — 4,313 contracts
  • 2025-05-23: Largest IV spike — 43.9% change
  • 2025-05-20: Highest IV Rank — 35.2%
  • 2025-05-20: Largest Expected Move — 7.5%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$18.34$17.95$18.78$18.76$18.10
Max Pain$18.38$18.00$19.00$19.00$18.00
ATM IV21.5%15.6%26.1%21.3%21.0%
Expected Move6.2%4.5%7.5%6.1%6.0%
HV 20d13.7%11.3%16.3%14.7%13.0%
HV 60d14.2%13.0%14.9%14.5%13.0%
IV Rank25.5%12.9%35.2%25.1%24.3%
IV Percentile69.5%18.7%94.4%71.0%67.9%
Term Structure1.9%-7.2%11.3%0.8%1.1%
VWIV22.2%18.3%25.7%20.0%21.3%
Skew 25d1.1%-5.4%21.8%0.1%4.5%
Skew 10d2.5%-8.1%41.1%6.1%1.0%
Call IV 25d20.6%12.6%25.0%18.1%13.2%
Put IV 25d21.7%15.1%43.3%18.2%17.7%
Bid-Ask Spread %106.1696.74135.25111.16116.12
Gamma HHI0.280.200.410.410.20
Net GEX209.1K127.4K290.5K184.2K229.0K
Net DEX-1.7M-3.2M-803.7K-1.7M-1.6M
Net VEX-15.1K-20.2K-11.4K-14.2K-11.8K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.420.004.580.240.23
Total Volume340.905354,313189108
Total OI8,418.6676,42910,7506,4449,317

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2025-05-01$18.76$19.0021.3%6.1%14.7%25.1%20.0%0.1%0.8%184.2K-1.7M-14.2K0.24111.16N/AN/A152375,631813
2025-05-02$18.78$19.0020.4%5.9%14.6%23.2%20.1%-3.0%-7.2%187.1K-1.8M-14.5K0.70104.78N/AN/A76535,649780
2025-05-05$18.41$19.0024.4%6.6%16.3%31.7%22.1%-1.0%1.2%144.4K-1.1M-12.9K0.36100.88N/AN/A87315,670782
2025-05-06$18.36$19.0022.6%6.5%16.3%27.7%22.5%-4.9%2.5%141.2K-1.1M-12.3K0.07101.28N/AN/A10575,734772
2025-05-07$18.24$19.0023.1%5.0%16.3%28.9%22.2%21.8%0.7%128.7K-803.7K-11.4K4.58135.25N/AN/A12555,752775
2025-05-08$18.20$19.0023.4%6.5%15.0%29.4%22.5%6.8%2.7%127.4K-841.6K-11.8K0.02101.11N/AN/A20655,748782
2025-05-09$18.26$19.0021.0%6.3%14.6%24.5%21.7%0.2%1.8%136.5K-955.9K-11.8K0.02101.70N/AN/A20245,798786
2025-05-12$18.34$19.0017.7%6.3%11.9%17.3%22.1%-0.8%1.8%140.2K-1.1M-11.8K0.03101.96N/AN/A4,1761375,852790
2025-05-13$18.21$18.0015.8%6.3%11.9%13.2%22.4%5.5%1.6%228.0K-1.7M-17.4K0.68102.36N/AN/A28199,960775
2025-05-14$18.14$18.0021.9%6.3%11.9%26.2%25.1%-1.1%2.5%221.9K-1.5M-16.7K0.1599.30N/AN/A3459,967759
2025-05-15$18.08$18.0021.2%6.1%11.3%24.9%21.2%-0.2%1.3%216.8K-1.5M-16.3K0.89102.28N/AN/A35319,992758
2025-05-16$17.95$18.0022.2%6.4%11.4%27.0%23.3%-0.1%11.3%212.2K-1.3M-14.8K0.32111.60N/AN/A121399,987685
2025-05-19$18.18$18.0022.8%6.5%12.9%28.1%23.3%-5.4%2.4%226.2K-2.1M-16.2K0.00104.02N/AN/A15308,514340
2025-05-20$18.47$18.0026.1%7.5%13.7%35.2%25.7%-1.5%-0.4%254.1K-2.4M-17.7K0.00106.13N/AN/A36708,503340
2025-05-21$18.67$18.0024.3%7.0%14.2%31.4%24.6%-4.2%-0.2%290.5K-3.2M-20.2K0.00100.36N/AN/A3508,720340
2025-05-22$18.63$18.0015.6%4.5%13.9%12.9%23.8%0.6%10.5%279.4K-2.8M-18.9K0.02117.48N/AN/A32458,738340
2025-05-23$18.53$18.0022.5%6.4%14.0%27.6%18.3%-3.5%1.4%279.0K-2.9M-19.6K0.0696.74N/AN/A3528,719345
2025-05-27$18.34$18.0022.5%6.4%14.2%27.6%22.5%7.0%1.1%253.9K-2.2M-16.1K0.00101.58N/AN/A21318,727346
2025-05-28$18.25$18.0020.9%6.0%13.1%24.2%19.8%5.6%0.8%254.1K-2.1M-15.3K0.17107.97N/AN/A103178,867347
2025-05-29$18.19$18.0021.7%6.2%13.0%25.9%21.6%-2.7%1.0%256.7K-2.2M-15.6K0.22105.39N/AN/A114258,946346
2025-05-30$18.10$18.0021.0%6.0%13.0%24.3%21.3%4.5%1.1%229.0K-1.6M-11.8K0.23116.12N/AN/A88208,963354