IBKR Options History — May 2025

In May 2025, IBKR traded between $44.05 and $52.92. ATM implied volatility averaged 38.1%, placing in the 19.1% IV rank vs the trailing year. The 30-day expected move averaged 10.7%. IV traded below realized volatility by 14.2% (HV 20d: 52.3%). Max pain ranged from $41.25 to $46.25. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 19 of 21 days. Put/call ratio averaged 1.04.

Notable Days

2025-05-01: Highest Volume — 24,624 contracts
2025-05-02: Largest IV drop — 8.8% change
2025-05-01: Highest IV Rank — 25.9%
2025-05-01: Largest Expected Move — 12.6%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$49.59	$44.05	$52.92	$44.05	$52.10
Max Pain	$44.82	$41.25	$46.25	$41.25	$46.25
ATM IV	38.1%	33.9%	44.1%	44.1%	36.1%
Expected Move	10.7%	9.7%	12.6%	12.6%	10.4%
HV 20d	52.3%	29.6%	98.4%	98.4%	29.6%
HV 60d	71.5%	70.7%	72.6%	72.4%	70.7%
IV Rank	19.1%	14.5%	25.9%	25.9%	16.5%
IV Percentile	75.6%	65.5%	84.1%	84.1%	69.8%
Term Structure	1.7%	-1.7%	5.1%	-1.7%	2.6%
VWIV	38.0%	34.8%	44.8%	44.8%	36.3%
Skew 25d	4.9%	3.5%	7.3%	7.3%	3.9%
Skew 10d	9.2%	6.4%	12.6%	12.6%	7.0%
Call IV 25d	35.1%	32.0%	40.4%	40.4%	34.1%
Put IV 25d	40.0%	36.1%	47.7%	47.7%	38.1%
Bid-Ask Spread %	53.67	27.07	63.97	27.07	59.48
Gamma HHI	0.10	0.07	0.17	0.07	0.12
Net GEX	5.3M	2.5M	10.3M	2.8M	5.7M
Net DEX	-289.5M	-415.3M	-145.4M	-145.4M	-322.2M
Net VEX	-1.8M	-1.9M	-1.8M	-1.9M	-1.8M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	1.04	0.36	3.26	2.09	0.82
Total Volume	8,969.333	2,012	24,624	24,624	5,320
Total OI	271,594.857	245,728	290,420	275,212	260,796

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	$44.05	$41.25	44.1%	12.6%	98.4%	25.9%	44.8%	7.3%	-1.7%	2.8M	-145.4M	-1.9M	2.09	27.07	N/A	N/A	7,964	16,660	154,428	120,784
2025-05-02	$45.34	$42.50	40.2%	11.5%	92.7%	21.5%	42.4%	5.8%	-0.4%	2.9M	-181.9M	-1.9M	0.94	34.52	N/A	N/A	6,100	5,720	154,968	125,460
2025-05-05	$45.02	$45.00	42.6%	11.7%	87.4%	24.2%	41.5%	6.5%	0.1%	2.6M	-169.8M	-1.9M	0.80	50.14	N/A	N/A	3,892	3,096	155,300	126,412
2025-05-06	$44.83	$43.75	43.1%	11.7%	86.0%	24.7%	41.7%	7.0%	0.2%	2.5M	-165.5M	-1.9M	1.34	54.61	N/A	N/A	1,728	2,308	156,232	127,760
2025-05-07	$45.12	$43.75	41.2%	11.5%	86.0%	22.7%	40.7%	6.3%	0.9%	2.8M	-173.5M	-1.9M	3.26	58.79	N/A	N/A	1,688	5,496	156,192	128,656
2025-05-08	$46.42	$43.75	39.5%	10.9%	62.3%	20.8%	39.9%	5.7%	2.1%	3.8M	-220.7M	-1.9M	0.74	59.45	N/A	N/A	5,964	4,396	156,528	130,052
2025-05-09	$46.36	$45.00	38.2%	10.8%	58.3%	19.3%	38.6%	5.6%	0.9%	3.8M	-216.6M	-1.8M	1.81	50.09	N/A	N/A	2,556	4,620	156,268	129,576
2025-05-12	$49.05	$45.00	39.7%	9.9%	58.6%	21.0%	35.9%	4.4%	2.0%	5.6M	-308.1M	-1.8M	0.61	43.32	N/A	N/A	11,604	7,096	155,964	130,584
2025-05-13	$50.91	$43.75	37.6%	10.1%	59.5%	18.6%	35.6%	4.4%	0.9%	7.2M	-376.3M	-1.8M	0.36	63.97	N/A	N/A	16,268	5,924	157,936	130,120
2025-05-14	$50.67	$45.00	35.9%	10.3%	59.6%	16.8%	35.9%	4.4%	1.6%	7.7M	-364.2M	-1.8M	0.62	59.20	N/A	N/A	5,312	3,288	159,428	129,892
2025-05-15	$51.58	$45.00	35.0%	10.0%	37.5%	15.8%	34.8%	3.5%	1.8%	7.8M	-395.1M	-1.8M	0.69	56.74	N/A	N/A	4,092	2,836	159,680	130,692
2025-05-16	$52.33	$45.00	33.9%	9.7%	37.3%	14.5%	34.8%	4.1%	2.9%	10.3M	-415.3M	-1.8M	0.43	57.38	N/A	N/A	7,348	3,172	159,160	131,260
2025-05-19	$52.02	$45.00	34.9%	10.0%	31.4%	15.6%	35.5%	3.6%	2.4%	6.1M	-331.6M	-1.8M	1.08	60.42	N/A	N/A	3,428	3,712	142,840	102,888
2025-05-20	$52.47	$45.00	35.4%	10.1%	30.6%	16.1%	36.1%	3.8%	5.1%	6.2M	-340.9M	-1.8M	0.92	53.84	N/A	N/A	3,040	2,792	142,928	104,636
2025-05-21	$51.41	$45.00	37.6%	10.8%	32.8%	18.6%	37.9%	4.4%	1.8%	5.3M	-304.0M	-1.9M	1.29	60.64	N/A	N/A	4,580	5,892	143,608	105,228
2025-05-22	$51.78	$46.25	37.5%	10.8%	29.9%	18.6%	37.4%	4.5%	2.2%	5.3M	-313.9M	-1.9M	0.74	52.71	N/A	N/A	1,156	856	144,364	108,560
2025-05-23	$51.79	$46.25	37.9%	10.9%	29.9%	18.7%	37.7%	3.9%	2.8%	5.3M	-313.4M	-1.9M	0.54	59.88	N/A	N/A	1,924	1,048	144,480	108,900
2025-05-27	$52.92	$46.25	36.9%	10.6%	29.9%	17.4%	37.0%	4.6%	2.4%	6.0M	-345.5M	-1.8M	0.80	54.85	N/A	N/A	3,916	3,140	144,564	109,216
2025-05-28	$52.79	$46.25	37.1%	10.6%	30.3%	17.6%	35.8%	5.0%	2.4%	6.2M	-345.4M	-1.8M	1.29	53.20	N/A	N/A	1,852	2,396	146,348	110,880
2025-05-29	$52.37	$46.25	36.6%	10.5%	30.4%	17.0%	37.9%	4.2%	3.4%	6.0M	-330.6M	-1.8M	0.59	56.84	N/A	N/A	2,632	1,544	147,132	112,792
2025-05-30	$52.10	$46.25	36.1%	10.4%	29.6%	16.5%	36.3%	3.9%	2.6%	5.7M	-322.2M	-1.8M	0.82	59.48	N/A	N/A	2,916	2,404	147,340	113,456