VWO Options History — September 2025

In September 2025, VWO traded between $51.36 and $54.54. ATM implied volatility averaged 14.3%, placing in the 3.6% IV rank vs the trailing year. The 30-day expected move averaged 4.0%. IV traded above realized volatility by 4.0% (HV 20d: 10.2%). Max pain ranged from $47.00 to $52.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 11 of 21 days. Put/call ratio averaged 11.26.

Notable Days

  • 2025-09-18: Highest Volume — 16,178 contracts
  • 2025-09-10: Largest IV drop — 23.0% change
  • 2025-09-18: Highest IV Rank — 6.8%
  • 2025-09-02: Largest Expected Move — 4.6%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$53.32$51.36$54.54$51.44$54.19
Max Pain$50.52$47.00$52.00$47.00$52.00
ATM IV14.3%12.3%16.0%16.0%13.9%
Expected Move4.0%3.5%4.6%4.6%4.0%
HV 20d10.2%8.6%11.8%11.0%8.8%
HV 60d10.5%9.5%11.7%11.5%9.5%
IV Rank3.6%0.0%6.8%6.5%3.1%
IV Percentile21.0%0.0%49.2%48.4%15.1%
Term Structure-0.4%-7.0%0.9%-1.7%0.9%
VWIV14.3%11.8%16.7%16.7%14.4%
Skew 25d2.1%0.3%5.5%2.5%0.3%
Skew 10d4.4%-2.3%8.6%7.2%5.4%
Call IV 25d12.9%9.5%14.4%14.3%13.7%
Put IV 25d15.0%14.0%16.8%16.8%14.0%
Bid-Ask Spread %86.0877.6795.4584.9286.50
Gamma HHI0.160.120.210.180.16
Net GEX2.3M1.1M3.3M3.1M2.3M
Net DEX-34.2M-57.9M-15.3M-28.6M-20.8M
Net VEX-92.6K-115.0K-75.5K-95.8K-100.3K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio11.260.02171.092.6456.19
Total Volume1,607.3813916,1789683,603
Total OI25,079.90520,39129,25223,77021,698

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2025-09-02$51.44$47.0016.0%4.6%11.0%6.5%16.7%2.5%-1.7%3.1M-28.6M-95.8K2.6484.92N/AN/A26670212,96010,810
2025-09-03$51.53$47.0014.7%4.2%10.9%4.0%15.6%2.5%-1.3%3.2M-29.3M-99.1K0.1891.60N/AN/A33613,18611,494
2025-09-04$51.36$49.0015.4%4.0%11.0%5.3%15.5%2.8%0.9%3.3M-27.4M-97.1K171.0977.67N/AN/A355,98813,19211,493
2025-09-05$52.00$49.0014.0%3.7%11.5%2.7%13.4%5.5%0.2%3.1M-33.3M-95.3K0.2486.70N/AN/A681613,19815,556
2025-09-08$52.44$49.0015.7%3.9%11.7%5.8%14.1%1.9%0.5%2.3M-39.0M-84.1K0.0982.11N/AN/A3843613,20513,427
2025-09-09$52.72$49.0015.9%3.7%11.8%6.3%13.6%2.1%-0.5%2.4M-42.7M-80.5K0.3184.50N/AN/A1344113,30013,438
2025-09-10$52.92$49.0012.3%3.5%11.2%0.0%11.8%4.2%0.8%2.6M-44.0M-80.3K1.2787.73N/AN/A66083813,35213,471
2025-09-11$53.56$51.0013.6%3.9%11.4%2.5%14.1%2.0%-0.2%2.3M-49.1M-88.0K0.3279.99N/AN/A1534913,97214,282
2025-09-12$53.55$51.0013.2%3.8%10.5%1.8%14.7%3.0%0.1%2.7M-50.2M-79.7K0.0282.67N/AN/A161414,01214,302
2025-09-15$53.84$51.0013.8%4.0%10.5%2.8%14.6%2.6%-0.5%2.8M-52.9M-77.4K0.2279.31N/AN/A1663614,08114,306
2025-09-16$54.20$51.0014.6%4.2%10.5%4.4%13.5%1.9%-1.4%2.6M-55.3M-75.5K0.1180.07N/AN/A3694114,11214,326
2025-09-17$54.54$51.0013.8%4.0%10.0%2.9%14.5%1.4%-7.0%1.8M-57.9M-77.9K1.1695.45N/AN/A42048814,17114,338
2025-09-18$54.28$51.0015.9%4.6%10.3%6.8%15.0%0.9%-1.2%1.8M-57.5M-76.2K0.2594.95N/AN/A12,9883,19014,47414,778
2025-09-19$53.97$52.0013.5%3.9%10.6%2.3%13.5%1.3%0.3%1.1M-21.8M-95.6K0.0391.12N/AN/A1,132398,54315,274
2025-09-22$54.08$52.0013.6%3.9%9.1%2.6%14.2%2.0%-0.0%1.7M-18.4M-102.0K0.0584.11N/AN/A888478,54111,850
2025-09-23$54.05$52.0014.5%4.2%9.0%4.2%14.5%0.7%-0.8%1.9M-20.2M-106.9K0.7089.20N/AN/A56399,40011,884
2025-09-24$53.95$52.0014.4%4.1%8.9%3.9%14.6%1.3%0.3%1.9M-18.7M-109.9K0.2187.35N/AN/A440949,43911,904
2025-09-25$53.69$52.0014.0%4.0%8.6%3.3%13.9%0.8%0.4%1.8M-16.9M-115.0K0.1089.13N/AN/A4149,62011,999
2025-09-26$53.53$52.0013.4%3.9%8.8%2.2%13.6%2.4%0.9%1.8M-15.3M-108.7K1.0087.04N/AN/A26269,62712,001
2025-09-29$53.95$52.0013.7%3.9%8.9%2.7%13.6%1.3%0.6%2.2M-19.3M-99.8K0.2385.63N/AN/A3999,63512,027
2025-09-30$54.19$52.0013.9%4.0%8.8%3.1%14.4%0.3%0.9%2.3M-20.8M-100.3K56.1986.50N/AN/A633,5409,66512,033