VERX Options History — May 2025

In May 2025, VERX traded between $37.11 and $40.10. ATM implied volatility averaged 46.1%, placing in the 27.1% IV rank vs the trailing year. The 30-day expected move averaged 12.2%. IV traded above realized volatility by 8.7% (HV 20d: 37.4%). Max pain ranged from $25.00 to $40.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 13 of 21 days. Put/call ratio averaged 1.34.

Notable Days

  • 2025-05-07: Highest Volume — 95 contracts
  • 2025-05-07: Largest IV drop — 47.3% change
  • 2025-05-05: Highest IV Rank — 76.8%
  • 2025-05-01: Largest Expected Move — 21.1%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$38.59$37.11$40.10$40.10$39.41
Max Pain$26.43$25.00$40.00$40.00$25.00
ATM IV46.1%31.9%83.8%73.6%34.8%
Expected Move12.2%9.2%21.1%21.1%10.0%
HV 20d37.4%32.4%51.3%50.6%32.6%
HV 60d59.6%42.4%67.9%67.3%42.4%
IV Rank27.1%8.5%76.8%63.3%12.2%
IV Percentile47.8%9.9%98.8%95.6%20.6%
Term Structure0.8%-21.7%17.2%-21.7%0.9%
VWIV41.8%33.8%70.4%70.4%44.7%
Skew 25d5.8%-10.7%26.6%26.6%5.9%
Skew 10d9.5%-6.8%29.2%29.2%9.4%
Call IV 25d38.7%29.8%67.4%64.8%32.4%
Put IV 25d44.5%27.0%91.5%91.5%38.2%
Bid-Ask Spread %92.2579.6796.8787.5896.87
Gamma HHI0.210.140.310.140.31
Net GEX48.8K39.0K62.4K49.8K62.4K
Net DEX-4.5M-4.9M-3.9M-4.8M-4.9M
Net VEX-11.1K-13.2K-9.8K-13.2K-9.8K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.340.0023.000.000.00
Total Volume22.95219521
Total OI2,711.192,6462,7602,6462,760

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2025-05-01$40.10$40.0073.6%21.1%50.6%63.3%0.0%26.6%-21.7%49.8K-4.8M-13.2K0.0087.58N/AN/A202,313333
2025-05-02$39.05$40.0070.5%20.2%50.3%59.2%70.4%-1.4%-18.8%46.2K-4.5M-12.6K1.6079.67N/AN/A10162,314333
2025-05-05$39.36$25.0083.8%15.7%48.6%76.8%0.0%4.1%-5.9%46.3K-4.6M-12.3K0.0096.36N/AN/A202,318334
2025-05-06$38.92$25.0077.3%14.4%48.9%68.2%52.5%22.1%-2.9%46.5K-4.5M-12.6K0.2096.01N/AN/A1532,318334
2025-05-07$37.11$25.0040.8%11.6%51.3%20.1%42.1%3.8%14.4%39.0K-3.9M-11.3K0.2294.34N/AN/A78172,321336
2025-05-08$37.58$25.0040.5%10.6%33.2%19.8%37.8%-0.6%6.5%44.7K-4.1M-11.2K0.0792.81N/AN/A8362,361329
2025-05-09$38.42$25.0042.0%11.4%32.7%21.7%39.7%-10.7%-1.9%49.3K-4.3M-11.1K0.0095.88N/AN/A902,391335
2025-05-12$37.19$25.0038.0%11.2%33.3%16.5%37.2%0.9%4.3%42.2K-4.1M-10.8K0.1090.44N/AN/A2122,389335
2025-05-13$38.03$25.0047.8%10.4%34.4%29.4%39.4%4.6%7.5%48.3K-4.3M-10.6K23.0092.67N/AN/A1232,403336
2025-05-14$38.56$25.0037.3%10.7%33.9%15.5%37.5%9.6%7.2%48.9K-4.4M-11.2K0.0096.64N/AN/A1002,402358
2025-05-15$37.42$25.0040.2%11.5%35.1%19.4%38.7%4.8%-1.3%40.7K-4.2M-10.4K1.2092.38N/AN/A10122,396358
2025-05-16$37.88$25.0031.9%9.2%35.4%8.5%0.0%5.3%1.7%43.0K-4.3M-10.6K1.0094.67N/AN/A112,395358
2025-05-19$38.41$25.0038.2%10.9%34.3%16.7%38.4%0.2%0.9%43.8K-4.3M-10.7K0.1392.11N/AN/A812,351330
2025-05-20$38.55$25.0037.7%10.8%32.9%16.1%39.0%8.7%2.1%45.4K-4.5M-11.0K0.0093.92N/AN/A302,358330
2025-05-21$38.59$25.0041.0%11.8%32.4%20.5%40.3%8.0%5.1%44.6K-4.5M-10.6K0.0095.45N/AN/A5102,357330
2025-05-22$38.94$25.0044.3%12.7%32.5%24.8%44.8%0.3%-4.2%51.3K-4.7M-10.3K0.0091.21N/AN/A1202,407330
2025-05-23$38.31$25.0039.1%11.2%32.7%18.0%39.0%9.1%-1.9%53.2K-4.5M-10.9K0.0089.34N/AN/A1002,418330
2025-05-27$39.41$25.0037.2%10.7%34.0%15.4%39.4%4.0%3.1%57.4K-4.8M-10.7K0.0087.52N/AN/A202,408332
2025-05-28$39.64$25.0033.6%9.6%33.0%10.7%33.8%8.1%17.2%61.3K-4.9M-10.1K0.0290.71N/AN/A6012,410332
2025-05-29$39.61$25.0037.7%10.8%32.7%16.1%37.7%8.6%3.8%60.2K-4.9M-10.3K0.5790.71N/AN/A742,420332
2025-05-30$39.41$25.0034.8%10.0%32.6%12.2%44.7%5.9%0.9%62.4K-4.9M-9.8K0.0096.87N/AN/A102,424336