BMAX Options History — July 2025

In July 2025, BMAX traded between $29.12 and $32.30. ATM implied volatility averaged 44.6%. The 30-day expected move averaged 12.4%. IV traded above realized volatility by 18.3% (HV 20d: 26.3%). Max pain ranged from $31.00 to $31.00. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 0 of 22 days. Put/call ratio averaged 0.00.

Notable Days

  • 2025-07-14: Highest Volume — 3 contracts
  • 2025-07-09: Largest IV drop — 30.9% change
  • 2025-07-30: Largest Expected Move — 15.3%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$30.64$29.12$32.30$29.12$29.92
Max Pain$31.00$31.00$31.00$31.00$31.00
ATM IV44.6%37.5%56.4%48.5%50.6%
Expected Move12.4%10.8%15.3%13.9%14.5%
HV 20d26.3%22.3%29.7%28.5%25.8%
HV 60d44.4%37.1%50.1%50.1%37.1%
Term Structure-11.5%-36.3%-4.7%-9.2%-13.9%
Skew 25d3.9%-7.8%23.7%13.3%2.0%
Skew 10d4.4%-13.3%24.8%5.2%1.7%
Call IV 25d41.0%22.4%55.6%42.5%55.5%
Put IV 25d44.9%22.6%57.5%55.7%57.5%
Bid-Ask Spread %148.86144.20155.93145.00150.74
Gamma HHI0.340.270.590.350.31
Net GEX6203661.3K538420
Net DEX-16.0K-26.1K-10.6K-10.6K-13.3K
Net VEX-51-67-43-44-58
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.000.000.000.000.00
Total Volume0.2730300
Total OI11.13610141111

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2025-07-01$29.12$31.0048.5%13.9%28.5%0.0%0.0%13.3%-9.2%538-10.6K-440.00145.00N/AN/A00110
2025-07-02$29.88$31.0047.5%13.6%27.1%0.0%0.0%2.1%-9.4%627-12.2K-480.00144.20N/AN/A00110
2025-07-03$29.90$0.0047.8%11.0%27.0%0.0%0.0%2.6%-18.7%632-12.2K-480.00149.35N/AN/A00110
2025-07-07$29.80$0.0055.5%14.1%26.1%0.0%0.0%1.7%-36.3%625-11.9K-450.00146.97N/AN/A00110
2025-07-08$29.67$0.0056.4%11.5%26.1%0.0%0.0%4.3%-18.1%617-11.6K-430.00150.28N/AN/A00110
2025-07-09$29.75$0.0038.9%11.2%22.5%0.0%0.0%2.7%-19.0%637-11.7K-430.00150.28N/AN/A00110
2025-07-10$30.00$0.0038.7%11.1%22.3%0.0%0.0%0.2%-18.7%720-13.4K-520.00149.75N/AN/A00110
2025-07-11$30.97$0.0038.0%10.9%25.0%0.0%0.0%-7.8%-4.8%1.3K-14.8K-480.00144.41N/AN/A00110
2025-07-14$31.88$0.0037.5%10.8%26.8%0.0%0.0%2.5%-6.3%787-17.4K-490.00146.33N/AN/A30110
2025-07-15$31.56$0.0037.9%10.9%25.4%0.0%0.0%1.9%-6.4%936-23.9K-670.00148.02N/AN/A00140
2025-07-16$32.30$0.0040.1%11.5%24.1%0.0%0.0%3.1%-7.5%921-26.0K-620.00149.28N/AN/A20140
2025-07-17$32.26$0.0038.7%11.1%23.9%0.0%0.0%4.3%-5.3%896-25.1K-530.00149.19N/AN/A00130
2025-07-18$31.63$0.0039.8%11.4%25.6%0.0%0.0%-0.5%-5.9%366-26.1K-570.00148.88N/AN/A00130
2025-07-21$31.88$0.0044.3%12.7%25.5%0.0%0.0%-5.9%-8.1%457-17.3K-520.00153.57N/AN/A00100
2025-07-22$31.07$0.0041.4%11.9%27.8%0.0%0.0%2.4%-7.3%462-16.2K-520.00145.74N/AN/A00100
2025-07-23$31.43$0.0042.3%12.1%27.7%0.0%0.0%5.6%-4.7%468-16.7K-520.00148.94N/AN/A00100
2025-07-24$30.48$0.0045.9%13.2%29.7%0.0%0.0%20.6%-9.5%460-14.9K-500.00150.50N/AN/A00100
2025-07-25$30.40$0.0043.6%12.5%29.6%0.0%0.0%3.0%-7.5%464-14.8K-500.00149.09N/AN/A00100
2025-07-28$30.40$0.0046.6%13.4%27.5%0.0%0.0%3.2%-10.1%471-14.7K-470.00148.95N/AN/A00100
2025-07-29$29.93$0.0048.0%13.8%27.5%0.0%0.0%23.7%-11.8%453-13.5K-440.00149.52N/AN/A01100
2025-07-30$29.93$0.0053.5%15.3%27.4%0.0%0.0%1.5%-14.2%407-13.3K-580.00155.93N/AN/A00101
2025-07-31$29.92$0.0050.6%14.5%25.8%0.0%0.0%2.0%-13.9%420-13.3K-580.00150.74N/AN/A00101