GME Options History — May 2025

In May 2025, GME traded between $26.07 and $34.87. ATM implied volatility averaged 78.7%, placing in the 8.8% IV rank vs the trailing year. The 30-day expected move averaged 23.3%. IV traded above realized volatility by 35.0% (HV 20d: 43.8%). Max pain ranged from $22.00 to $25.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 10 of 21 days. Put/call ratio averaged 0.24.

Notable Days

2025-05-23: Highest Volume — 932,797 contracts
2025-05-29: Largest IV drop — 20.0% change
2025-05-27: Highest IV Rank — 24.0%
2025-05-27: Largest Expected Move — 36.4%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$28.76	$26.07	$34.87	$27.66	$29.94
Max Pain	$23.24	$22.00	$25.00	$24.00	$25.00
ATM IV	78.7%	60.0%	120.9%	62.0%	84.4%
Expected Move	23.3%	14.1%	36.4%	15.0%	24.7%
HV 20d	43.8%	24.8%	66.7%	65.5%	66.7%
HV 60d	78.1%	75.4%	83.0%	79.0%	82.9%
IV Rank	8.8%	2.1%	24.0%	2.8%	11.0%
IV Percentile	35.7%	3.2%	84.5%	4.4%	53.6%
Term Structure	2.3%	-8.6%	16.6%	9.1%	-2.9%
VWIV	94.8%	56.7%	146.2%	60.4%	102.7%
Skew 25d	-26.0%	-54.1%	-12.1%	-12.3%	-35.5%
Skew 10d	-49.2%	-96.0%	-15.9%	-22.4%	-70.2%
Call IV 25d	99.7%	68.1%	153.2%	71.2%	113.4%
Put IV 25d	73.7%	51.8%	109.3%	58.9%	77.9%
Bid-Ask Spread %	21.09	10.42	32.74	22.16	11.95
Gamma HHI	0.13	0.07	0.31	0.11	0.15
Net GEX	23.2M	12.8M	35.2M	24.6M	18.6M
Net DEX	-832.7M	-1.71B	-489.5M	-716.7M	-770.8M
Net VEX	-3.9M	-5.2M	-3.2M	-3.5M	-4.5M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.24	0.13	0.41	0.28	0.30
Total Volume	313,662.476	89,087	932,797	125,762	289,121
Total OI	1,314,058.381	1,114,623	1,579,751	1,189,429	1,579,751

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
2025-05-01	$27.66	$24.00	62.0%	15.0%	65.5%	2.8%	60.4%	-12.3%	9.1%	24.6M	-716.7M	-3.5M	0.28	22.16	N/A	N/A	98,475	27,287	903,716	285,713
2025-05-02	$27.48	$24.00	60.0%	14.1%	60.2%	2.1%	56.7%	-12.1%	5.2%	21.6M	-664.4M	-3.4M	0.27	17.40	N/A	N/A	181,012	49,448	913,855	292,484
2025-05-05	$26.67	$22.00	63.6%	21.8%	50.2%	3.4%	82.2%	-14.6%	11.9%	14.4M	-544.9M	-3.2M	0.24	26.34	N/A	N/A	120,472	28,908	843,357	271,266
2025-05-06	$26.07	$22.00	61.5%	21.5%	51.2%	2.6%	84.3%	-12.5%	16.6%	12.8M	-489.5M	-3.2M	0.24	28.21	N/A	N/A	103,111	24,699	876,928	284,803
2025-05-07	$26.19	$22.00	63.0%	21.2%	48.7%	3.2%	85.6%	-22.2%	14.5%	14.3M	-499.0M	-3.2M	0.20	32.74	N/A	N/A	74,437	14,650	907,557	292,651
2025-05-08	$26.78	$22.00	66.4%	21.3%	38.6%	4.3%	83.7%	-12.3%	11.3%	19.0M	-590.1M	-3.3M	0.15	29.98	N/A	N/A	163,028	25,172	935,607	297,076
2025-05-09	$27.50	$22.00	73.3%	22.1%	38.5%	6.6%	91.5%	-22.9%	15.2%	26.6M	-732.5M	-3.4M	0.13	27.89	N/A	N/A	322,529	43,228	980,046	295,919
2025-05-12	$27.80	$22.00	75.3%	22.1%	33.0%	7.3%	86.9%	-20.1%	-1.8%	22.6M	-747.4M	-3.6M	0.22	26.85	N/A	N/A	147,507	32,667	944,413	276,468
2025-05-13	$28.56	$22.00	77.6%	22.4%	33.7%	8.1%	89.8%	-21.8%	0.6%	29.2M	-869.8M	-3.8M	0.41	26.28	N/A	N/A	175,700	71,856	975,654	291,302
2025-05-14	$28.56	$22.00	72.0%	22.8%	33.7%	6.2%	92.5%	-20.0%	-0.6%	29.3M	-882.3M	-3.9M	0.21	29.40	N/A	N/A	277,657	58,016	1,009,832	332,024
2025-05-15	$28.59	$23.00	83.6%	23.5%	31.3%	10.1%	91.7%	-25.5%	-5.2%	30.9M	-855.6M	-4.0M	0.31	29.20	N/A	N/A	179,634	54,992	1,046,259	356,544
2025-05-16	$28.49	$23.00	79.0%	22.2%	30.2%	8.6%	88.6%	-24.2%	-2.9%	35.2M	-833.4M	-3.8M	0.14	21.30	N/A	N/A	292,748	39,711	1,078,368	358,371
2025-05-19	$27.86	$23.00	74.0%	20.8%	31.0%	7.3%	86.3%	-23.1%	1.4%	16.4M	-641.2M	-3.6M	0.29	16.46	N/A	N/A	124,429	35,802	861,931	315,478
2025-05-20	$28.41	$23.00	76.1%	21.7%	26.2%	8.0%	82.7%	-27.3%	-0.6%	21.6M	-735.1M	-3.9M	0.23	15.29	N/A	N/A	113,741	26,223	905,922	331,353
2025-05-21	$28.21	$24.00	77.9%	22.3%	24.8%	8.7%	88.2%	-22.6%	-1.1%	22.2M	-720.0M	-3.8M	0.31	21.98	N/A	N/A	160,436	50,166	934,247	336,233
2025-05-22	$30.23	$24.00	90.7%	26.2%	34.2%	13.2%	118.4%	-41.1%	-2.2%	30.0M	-1.07B	-4.2M	0.24	16.32	N/A	N/A	445,533	107,251	961,298	345,951
2025-05-23	$32.95	$24.00	108.8%	32.2%	44.6%	19.7%	130.4%	-52.7%	-6.9%	25.6M	-1.55B	-4.8M	0.21	11.02	N/A	N/A	772,107	160,690	1,041,514	378,060
2025-05-27	$34.87	$25.00	120.9%	36.4%	47.5%	24.0%	146.2%	-34.6%	-8.6%	30.2M	-1.71B	-5.2M	0.24	11.13	N/A	N/A	503,869	120,862	1,086,398	353,211
2025-05-28	$31.54	$25.00	101.7%	30.3%	62.1%	17.1%	137.1%	-54.1%	-7.8%	25.6M	-1.15B	-5.0M	0.28	10.61	N/A	N/A	480,515	134,888	1,142,109	393,721
2025-05-29	$29.65	$25.00	81.3%	24.6%	66.7%	9.9%	105.1%	-34.8%	3.4%	16.0M	-717.7M	-4.4M	0.20	10.42	N/A	N/A	377,996	76,339	1,156,436	421,400
2025-05-30	$29.94	$25.00	84.4%	24.7%	66.7%	11.0%	102.7%	-35.5%	-2.9%	18.6M	-770.8M	-4.5M	0.30	11.95	N/A	N/A	222,576	66,545	1,150,746	429,005