NNN Options History — May 2025

In May 2025, NNN traded between $40.64 and $42.34. ATM implied volatility averaged 22.3%, placing in the 17.3% IV rank vs the trailing year. The 30-day expected move averaged 6.3%. IV traded above realized volatility by 1.9% (HV 20d: 20.4%). Max pain ranged from $40.00 to $45.00. Net GEX was positive for 18 of 21 trading days. Term structure was in contango for 10 of 21 days. Put/call ratio averaged 1.33.

Notable Days

  • 2025-05-08: Highest Volume — 258 contracts
  • 2025-05-09: Largest IV spike — 39.8% change
  • 2025-05-09: Highest IV Rank — 26.6%
  • 2025-05-01: Largest Expected Move — 7.2%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$41.57$40.64$42.34$41.32$41.72
Max Pain$40.24$40.00$45.00$45.00$40.00
ATM IV22.3%17.3%28.1%25.1%23.4%
Expected Move6.3%5.7%7.2%7.2%6.7%
HV 20d20.4%15.4%36.0%36.0%15.7%
HV 60d24.3%23.4%26.6%26.4%23.5%
IV Rank17.3%10.1%26.6%21.9%18.1%
IV Percentile64.0%31.3%86.5%75.4%72.2%
Term Structure-0.5%-6.4%1.7%-2.0%-3.1%
VWIV22.8%18.3%49.1%49.1%23.6%
Skew 25d5.0%-1.4%12.4%8.6%3.3%
Skew 10d12.4%-1.6%25.7%25.7%12.9%
Call IV 25d17.8%10.7%23.8%16.5%21.5%
Put IV 25d22.9%20.5%26.0%25.1%24.8%
Bid-Ask Spread %77.4365.6991.7065.6972.82
Gamma HHI0.490.330.660.330.56
Net GEX76.9K-129.1K176.5K-38.6K129.3K
Net DEX-2.3M-3.2M-1.1M-1.1M-2.2M
Net VEX-21.6K-25.6K-19.2K-25.6K-21.0K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.330.136.920.330.87
Total Volume92.571182589328
Total OI8,975.7148,4129,2899,1988,833

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2025-05-01$41.32$45.0025.1%7.2%36.0%21.9%49.1%8.6%-2.0%-38.6K-1.1M-25.6K0.3365.69N/AN/A70232,3176,881
2025-05-02$41.76$40.0023.9%6.8%36.0%20.1%23.9%8.4%-1.3%25.8K-2.0M-24.6K0.3577.11N/AN/A69242,3406,816
2025-05-05$42.34$40.0023.7%6.9%34.7%19.9%20.0%5.8%-0.1%100.2K-2.8M-22.9K2.9279.53N/AN/A13382,3846,821
2025-05-06$42.07$40.0026.3%6.4%26.4%23.9%19.6%3.6%0.6%73.9K-2.7M-23.1K0.7573.15N/AN/A20152,3956,824
2025-05-07$41.94$40.0017.3%6.7%23.8%10.1%21.4%5.3%0.2%83.0K-2.6M-22.6K0.2390.26N/AN/A3582,4076,826
2025-05-08$41.56$40.0020.1%6.4%18.9%14.4%29.1%4.5%1.5%26.5K-2.1M-22.6K3.9675.82N/AN/A522062,4206,823
2025-05-09$41.84$40.0028.1%6.4%18.4%26.6%21.6%4.5%1.7%56.9K-2.5M-23.0K2.0091.12N/AN/A6122,4576,680
2025-05-12$41.48$40.0024.1%6.1%17.4%20.5%18.9%3.8%0.6%47.4K-2.3M-20.8K0.2973.92N/AN/A95282,4616,700
2025-05-13$40.92$40.0019.8%6.1%15.4%13.9%21.2%12.4%0.8%-48.9K-1.5M-21.1K0.8089.20N/AN/A61492,5166,707
2025-05-14$40.64$40.0020.3%5.8%15.4%14.6%20.6%11.1%1.1%-129.1K-1.3M-21.5K0.9284.90N/AN/A13122,5206,721
2025-05-15$41.45$40.0021.1%6.0%16.9%15.9%18.6%8.5%0.7%112.1K-2.5M-20.4K1.5791.70N/AN/A21332,5216,721
2025-05-16$41.98$40.0020.0%5.7%17.3%14.2%18.3%9.9%-6.4%171.3K-3.2M-20.7K0.4676.16N/AN/A56262,5396,750
2025-05-19$42.05$40.0021.9%6.3%16.7%17.1%21.5%6.2%0.6%176.5K-3.2M-20.5K0.7073.31N/AN/A1451012,4975,915
2025-05-20$41.77$40.0021.0%6.0%16.8%15.7%19.7%4.3%-2.0%170.2K-3.0M-21.0K1.1371.08N/AN/A60682,5965,934
2025-05-21$41.23$40.0021.5%6.2%17.0%16.5%21.5%1.3%-0.5%105.9K-2.2M-19.2K0.5967.52N/AN/A94552,6105,988
2025-05-22$41.05$40.0021.3%6.1%17.1%14.8%22.2%1.9%1.3%82.6K-1.9M-20.1K1.9174.52N/AN/A23442,5576,038
2025-05-23$41.26$40.0022.8%6.5%17.0%17.1%22.2%4.8%-0.7%118.4K-2.4M-21.2K0.9375.88N/AN/A29272,5676,059
2025-05-27$41.75$40.0021.6%6.2%17.3%15.3%21.7%-0.1%-0.5%141.7K-2.7M-20.7K6.9278.96N/AN/A241662,5956,073
2025-05-28$41.44$40.0022.3%6.4%17.4%16.3%23.1%-1.4%-1.9%102.2K-2.3M-21.0K0.1373.55N/AN/A4052,6136,214
2025-05-29$41.39$40.0021.9%6.3%16.2%15.8%22.0%-1.3%-0.4%108.3K-2.4M-20.4K0.1969.81N/AN/A4282,6436,211
2025-05-30$41.72$40.0023.4%6.7%15.7%18.1%23.6%3.3%-3.1%129.3K-2.2M-21.0K0.8772.82N/AN/A15132,6166,217