BMAX Options History — May 2025

In May 2025, BMAX traded between $29.05 and $31.93. ATM implied volatility averaged 50.9%. The 30-day expected move averaged 12.2%. IV traded below realized volatility by 2.5% (HV 20d: 53.4%). Max pain ranged from $27.00 to $27.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 0 of 21 days. Put/call ratio averaged 0.00.

Notable Days

  • 2025-05-19: Highest Volume — 3 contracts
  • 2025-05-28: Largest IV spike — 63.9% change
  • 2025-05-28: Largest Expected Move — 16.3%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$30.43$29.05$31.93$29.44$29.05
Max Pain$27.00$27.00$27.00$27.00$27.00
ATM IV50.9%34.7%72.5%56.2%36.5%
Expected Move12.2%9.5%16.3%16.1%10.5%
HV 20d53.4%42.8%62.4%62.4%53.8%
Term Structure-6.5%-17.3%-0.7%-16.7%-5.5%
VWIV24.8%24.8%24.8%24.8%24.8%
Skew 25d7.9%-10.0%24.9%-10.0%1.8%
Skew 10d10.1%-19.7%34.1%-19.7%3.7%
Call IV 25d39.7%22.5%56.1%56.1%40.7%
Put IV 25d47.6%38.3%55.2%46.1%42.5%
Bid-Ask Spread %142.36134.75146.38134.75138.91
Gamma HHI0.380.220.740.450.39
Net GEX35484629256531
Net DEX-11.8K-19.4K-6.1K-6.7K-12.3K
Net VEX-29-60-12-12-41
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.000.000.000.000.00
Total Volume0.5710301
Total OI7.19410410

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2025-05-01$29.44$27.0056.2%16.1%0.0%0.0%0.0%-10.0%-16.7%256-6.7K-120.00134.75N/AN/A0031
2025-05-02$30.11$27.0054.3%15.6%0.0%0.0%24.8%11.0%-13.1%84-6.1K-140.00139.49N/AN/A2031
2025-05-05$29.24$0.0062.0%14.5%0.0%0.0%0.0%4.9%-17.3%242-7.4K-240.00142.69N/AN/A0051
2025-05-06$30.54$0.0065.1%11.9%0.0%0.0%0.0%10.4%-0.7%253-8.7K-240.00142.15N/AN/A0051
2025-05-07$29.63$0.0064.2%12.4%0.0%0.0%0.0%4.5%-4.0%247-8.2K-230.00143.29N/AN/A0051
2025-05-08$30.63$0.0063.8%11.8%0.0%0.0%0.0%6.1%-1.7%253-9.6K-220.00142.54N/AN/A1051
2025-05-09$30.76$0.0065.9%11.7%0.0%0.0%0.0%5.9%-2.6%266-12.9K-220.00142.58N/AN/A2061
2025-05-12$30.77$0.0072.5%11.8%0.0%0.0%0.0%11.3%-3.0%352-12.1K-210.00142.53N/AN/A0061
2025-05-13$31.06$0.0072.3%9.5%62.4%0.0%0.0%22.2%-3.4%423-12.4K-200.00143.25N/AN/A0061
2025-05-14$31.62$0.0039.7%11.4%60.3%0.0%0.0%24.9%-2.4%489-13.7K-190.00142.68N/AN/A0061
2025-05-15$31.34$0.0040.4%11.6%59.1%0.0%0.0%8.9%-0.9%390-12.7K-180.00142.43N/AN/A0061
2025-05-16$30.39$0.0042.2%12.1%59.6%0.0%0.0%12.8%-5.5%112-9.4K-180.00142.87N/AN/A0061
2025-05-19$30.73$0.0037.8%10.8%57.9%0.0%0.0%1.6%-10.2%108-9.8K-160.00145.47N/AN/A3040
2025-05-20$31.47$0.0037.4%10.7%56.6%0.0%0.0%4.2%-15.7%358-15.7K-320.00144.81N/AN/A2070
2025-05-21$30.35$0.0040.9%11.7%48.1%0.0%0.0%3.3%-6.9%473-15.1K-440.00145.78N/AN/A0090
2025-05-22$30.19$0.0040.3%11.5%47.0%0.0%0.0%1.8%-4.4%504-14.5K-420.00146.38N/AN/A0090
2025-05-23$30.70$0.0042.6%12.2%42.8%0.0%0.0%7.3%-7.5%629-15.0K-430.00145.93N/AN/A0090
2025-05-27$29.99$0.0034.7%9.9%43.8%0.0%0.0%17.4%-3.9%605-13.9K-400.00136.81N/AN/A1090
2025-05-28$31.93$0.0056.8%16.3%47.4%0.0%0.0%13.0%-4.5%352-19.4K-600.00137.81N/AN/A00100
2025-05-29$29.15$0.0044.4%12.7%55.8%0.0%0.0%2.3%-5.8%515-12.8K-440.00146.35N/AN/A00100
2025-05-30$29.05$0.0036.5%10.5%53.8%0.0%0.0%1.8%-5.5%531-12.3K-410.00138.91N/AN/A10100