VWO Options History — May 2025

In May 2025, VWO traded between $45.39 and $47.86. ATM implied volatility averaged 16.8%, placing in the 11.0% IV rank vs the trailing year. The 30-day expected move averaged 4.7%. IV traded below realized volatility by 3.2% (HV 20d: 20.0%). Max pain ranged from $43.00 to $45.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 2 of 21 days. Put/call ratio averaged 4.15.

Notable Days

  • 2025-05-16: Highest Volume — 5,174 contracts
  • 2025-05-14: Largest IV drop — 11.2% change
  • 2025-05-07: Highest IV Rank — 15.5%
  • 2025-05-06: Largest Expected Move — 5.3%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$47.14$45.39$47.86$45.39$47.05
Max Pain$44.62$43.00$45.00$43.00$45.00
ATM IV16.8%15.0%19.3%18.3%15.8%
Expected Move4.7%4.2%5.3%5.2%4.5%
HV 20d20.0%12.5%43.2%42.9%13.7%
HV 60d28.2%27.2%28.7%27.9%27.2%
IV Rank11.0%7.7%15.5%13.6%9.2%
IV Percentile51.0%29.4%75.8%65.1%41.7%
Term Structure-0.7%-2.0%0.3%-0.2%-0.9%
VWIV16.9%15.1%19.1%18.6%15.5%
Skew 25d2.0%-4.7%3.5%3.1%2.2%
Skew 10d5.6%-3.7%11.8%9.6%7.1%
Call IV 25d15.6%13.4%17.8%16.8%14.6%
Put IV 25d17.6%12.6%20.8%19.9%16.8%
Bid-Ask Spread %65.0644.2991.1673.0060.81
Gamma HHI0.190.150.240.150.17
Net GEX3.5M2.2M5.3M2.2M2.5M
Net DEX-27.2M-41.2M-14.2M-14.2M-15.5M
Net VEX-145.3K-156.5K-126.7K-137.3K-126.7K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio4.150.0267.730.040.31
Total Volume784.762745,17447176
Total OI31,058.23827,50234,04931,28429,212

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2025-05-01$45.39$43.0018.3%5.2%42.9%13.6%18.6%3.1%-0.2%2.2M-14.2M-137.3K0.0473.00N/AN/A4551619,12812,156
2025-05-02$46.47$43.0017.9%5.1%43.2%13.0%18.9%1.8%0.2%3.3M-27.2M-147.0K0.6680.39N/AN/A30219819,46012,152
2025-05-05$46.88$44.0018.7%5.3%37.7%14.4%17.6%3.5%-1.1%3.7M-32.6M-149.4K0.2768.75N/AN/A2165919,68012,126
2025-05-06$46.64$44.0018.9%5.3%32.7%14.8%18.5%3.1%-1.0%3.6M-29.7M-147.3K0.3969.59N/AN/A1877319,77812,176
2025-05-07$46.16$44.0019.3%4.2%31.8%15.5%18.4%-4.7%-1.1%3.2M-23.6M-140.5K2.7091.16N/AN/A205419,83212,248
2025-05-08$46.00$44.0018.7%5.2%20.6%14.4%17.8%3.2%-0.5%3.4M-22.7M-135.4K67.7373.38N/AN/A604,06419,84312,295
2025-05-09$46.25$45.0017.6%5.2%18.3%12.4%18.0%2.9%-0.7%3.4M-23.1M-153.0K0.1167.94N/AN/A1,75718919,86712,711
2025-05-12$47.25$45.0018.7%4.9%16.1%14.5%17.2%1.7%-0.4%4.3M-35.8M-156.5K0.1571.05N/AN/A891320,77012,896
2025-05-13$47.48$45.0018.2%4.7%15.7%13.5%19.1%2.6%-0.4%4.5M-38.2M-151.9K1.9570.24N/AN/A12023420,79212,909
2025-05-14$47.69$45.0016.2%4.6%15.5%9.9%16.6%2.1%-0.8%4.7M-41.0M-149.9K0.0569.66N/AN/A3431620,82813,062
2025-05-15$47.64$45.0016.4%4.7%14.1%10.2%16.4%1.1%-1.1%4.7M-40.8M-145.1K0.0268.19N/AN/A237420,91413,064
2025-05-16$47.72$45.0015.6%4.5%14.0%8.8%15.7%0.9%-0.4%5.3M-41.2M-144.1K3.0373.01N/AN/A1,2833,89120,98113,068
2025-05-19$47.86$45.0015.4%4.4%13.8%8.6%15.3%2.2%-1.2%3.0M-24.7M-148.8K0.0554.33N/AN/A1,1435715,75211,750
2025-05-20$47.77$45.0015.2%4.4%13.2%8.1%15.7%2.5%0.3%3.0M-25.0M-155.7K0.7144.29N/AN/A1097716,92411,769
2025-05-21$47.72$45.0015.6%4.5%13.2%8.9%15.1%2.3%-1.1%3.2M-24.9M-156.4K0.0454.78N/AN/A2741216,95811,817
2025-05-22$47.63$45.0015.4%4.4%12.8%8.4%15.9%2.1%-1.1%3.0M-22.7M-150.8K2.2356.61N/AN/A9220517,01511,821
2025-05-23$47.80$45.0015.0%4.3%12.5%7.8%15.9%2.0%-0.7%3.2M-24.2M-151.6K0.5653.86N/AN/A482717,03112,017
2025-05-27$47.61$45.0015.0%4.3%12.7%7.7%17.2%3.1%-0.4%3.2M-22.3M-136.3K4.9650.98N/AN/A2311417,06312,039
2025-05-28$47.39$45.0016.1%4.6%13.0%9.8%15.8%3.1%-2.0%3.0M-20.3M-135.0K0.8359.49N/AN/A1139417,07212,093
2025-05-29$47.53$45.0015.4%4.4%13.0%8.5%16.4%1.6%-0.3%3.2M-21.8M-132.8K0.3654.68N/AN/A1003617,06312,091
2025-05-30$47.05$45.0015.8%4.5%13.7%9.2%15.5%2.2%-0.9%2.5M-15.5M-126.7K0.3160.81N/AN/A581817,10512,107