CORN Options History — September 2025

In September 2025, CORN traded between $17.45 and $17.96. ATM implied volatility averaged 17.5%, placing in the 16.5% IV rank vs the trailing year. The 30-day expected move averaged 5.1%. IV traded above realized volatility by 3.6% (HV 20d: 13.9%). Max pain ranged from $17.00 to $18.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 0 of 21 days. Put/call ratio averaged 1.50.

Notable Days

  • 2025-09-15: Highest Volume — 947 contracts
  • 2025-09-10: Largest IV spike — 72.2% change
  • 2025-09-11: Highest IV Rank — 22.6%
  • 2025-09-11: Largest Expected Move — 5.8%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$17.68$17.45$17.96$17.72$17.45
Max Pain$17.33$17.00$18.00$17.00$18.00
ATM IV17.5%10.6%20.2%18.2%18.4%
Expected Move5.1%4.0%5.8%5.2%5.3%
HV 20d13.9%11.2%15.7%15.7%11.4%
HV 60d15.6%13.1%16.5%16.4%13.1%
IV Rank16.5%2.2%22.6%18.4%17.0%
IV Percentile33.0%0.4%57.5%38.5%41.3%
Term Structure-2.8%-8.3%-0.2%-0.2%-6.5%
VWIV16.8%11.2%20.2%20.0%18.5%
Skew 25d-0.5%-7.4%5.0%5.0%0.0%
Skew 10d5.5%-4.6%15.0%14.0%15.0%
Call IV 25d16.0%12.9%20.2%17.3%18.4%
Put IV 25d15.4%11.0%22.3%22.3%18.4%
Bid-Ask Spread %99.0592.37104.0796.76101.68
Gamma HHI0.580.500.650.540.61
Net GEX283.1K138.9K391.0K138.9K341.5K
Net DEX-3.0M-4.4M-1.7M-1.7M-3.3M
Net VEX-14.4K-20.0K-9.0K-9.0K-17.9K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.500.0028.600.1028.60
Total Volume405.42947947465592
Total OI5,022.7623,1656,4063,1656,387

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2025-09-02$17.72$17.0018.2%5.2%15.7%18.4%20.0%5.0%-0.2%138.9K-1.7M-9.0K0.1096.76N/AN/A422432,646519
2025-09-03$17.52$17.0020.0%5.7%15.7%22.3%15.8%1.3%-2.1%163.2K-1.8M-9.4K0.34100.17N/AN/A179602,928502
2025-09-04$17.61$17.0016.7%5.0%15.7%15.2%17.5%-1.7%-2.4%182.2K-1.9M-9.8K0.7393.09N/AN/A136993,042510
2025-09-05$17.54$17.0016.5%5.0%15.6%14.8%16.1%1.6%-3.2%186.2K-1.9M-10.2K0.2895.26N/AN/A349963,174572
2025-09-08$17.66$17.0018.4%5.2%15.6%18.9%16.9%3.1%-3.2%173.9K-1.9M-10.4K0.1395.14N/AN/A92123,204632
2025-09-09$17.59$17.0010.6%4.0%15.6%2.2%17.1%3.0%-8.3%181.5K-1.9M-10.5K0.0098.17N/AN/A28913,235634
2025-09-10$17.52$17.0018.3%5.3%12.7%18.6%18.6%1.2%-2.7%193.0K-2.0M-11.2K0.0198.89N/AN/A9613,465635
2025-09-11$17.59$17.0020.2%5.8%12.7%22.6%20.2%-4.2%-3.9%188.9K-2.1M-11.3K0.05101.70N/AN/A344173,531635
2025-09-12$17.91$17.0018.0%5.2%13.9%17.9%18.3%-7.4%-3.3%316.1K-2.9M-11.3K0.0292.37N/AN/A815183,776633
2025-09-15$17.79$17.0018.0%5.2%13.7%17.9%18.0%-1.5%-2.7%279.1K-2.6M-11.9K0.01100.17N/AN/A934133,872636
2025-09-16$17.96$17.0017.7%5.1%14.0%17.4%17.2%-2.9%-2.5%329.2K-3.8M-15.2K0.0397.57N/AN/A26774,617644
2025-09-17$17.88$17.0017.5%5.0%13.8%16.9%13.9%0.6%-2.1%343.9K-3.7M-14.9K0.02100.31N/AN/A53894,697654
2025-09-18$17.77$17.0019.5%5.6%14.2%21.1%11.2%-1.0%-2.8%364.8K-3.6M-16.6K0.38101.86N/AN/A3421315,173653
2025-09-19$17.73$17.0018.3%5.3%13.3%18.7%18.4%4.1%-1.7%311.8K-3.7M-17.8K0.1299.42N/AN/A597695,398577
2025-09-22$17.63$18.0016.5%4.7%13.5%14.8%12.4%-2.7%-1.8%373.6K-3.8M-18.5K0.14100.26N/AN/A7181045,526498
2025-09-23$17.74$18.0014.8%4.2%13.7%11.1%14.8%-1.7%-0.8%383.5K-4.1M-19.6K0.0099.65N/AN/A13405,737600
2025-09-24$17.70$18.0017.9%5.1%13.4%17.7%18.4%-0.9%-4.7%391.0K-4.4M-19.8K0.52100.60N/AN/A31165,764600
2025-09-25$17.70$18.0017.5%5.0%13.1%16.8%17.1%2.9%-1.4%367.7K-4.2M-20.0K0.01104.07N/AN/A12115,791602
2025-09-26$17.63$18.0017.0%4.9%13.1%13.9%16.9%-5.5%-1.5%377.1K-3.8M-19.3K0.00101.77N/AN/A75415,804602
2025-09-29$17.64$18.0016.5%4.7%11.2%12.9%16.6%-4.3%-1.5%358.9K-3.6M-18.7K0.00101.14N/AN/A6605,772601
2025-09-30$17.45$18.0018.4%5.3%11.4%17.0%18.5%0.0%-6.5%341.5K-3.3M-17.9K28.60101.68N/AN/A205725,786601