BMAX Options History — September 2025

Name: BMAX Options Analytics - September 2025
Creator: Options Analysis Suite

In September 2025, BMAX traded between $27.73 and $29.89. ATM implied volatility averaged 38.1%. The 30-day expected move averaged 10.2%. IV traded below realized volatility by 14.8% (HV 20d: 52.9%). Max pain ranged from $16.00 to $16.00. Net GEX was positive for 1 of 21 trading days. Term structure was in contango for 0 of 21 days. Put/call ratio averaged 0.67.

Notable Days

2025-09-05: Highest Volume — 3 contracts
2025-09-10: Largest IV drop — 32.6% change
2025-09-02: Largest Expected Move — 15.2%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$28.49	$27.73	$29.89	$29.89	$28.55
Max Pain	$16.00	$16.00	$16.00	$16.00	$16.00
ATM IV	38.1%	30.8%	53.1%	53.1%	39.4%
Expected Move	10.2%	8.0%	15.2%	15.2%	11.3%
HV 20d	52.9%	39.0%	66.3%	62.1%	39.0%
HV 60d	43.5%	41.2%	44.4%	41.2%	44.4%
Term Structure	-6.9%	-12.6%	-1.4%	-7.2%	-3.9%
VWIV	83.5%	83.5%	83.5%	83.5%	83.5%
Skew 25d	2.7%	-18.9%	37.3%	-18.9%	-0.6%
Skew 10d	3.9%	-11.5%	65.7%	-11.5%	-2.1%
Call IV 25d	37.6%	26.0%	65.8%	65.8%	47.1%
Put IV 25d	40.3%	28.6%	72.9%	46.9%	46.6%
Bid-Ask Spread %	136.59	129.71	142.32	136.89	138.69
Gamma HHI	0.50	0.43	0.62	0.56	0.45
Net GEX	-450	-850	38	-483	-240
Net DEX	35.4K	19.9K	46.7K	19.9K	41.6K
Net VEX	-337	-356	-303	-350	-321
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.67	0.00	2.00	2.00	0.00
Total Volume	0.238	0	3	0	0
Total OI	49	46	50	46	50

Daily Data (21 trading days)

Date	Price	Max Pain	ATM IV	Exp Move	HV 20d	IV Rank	VWIV	Skew 25d	Term Str	GEX	DEX	VEX	P/C	Spread %	Call Wall	Put Wall	Call Vol	Put Vol	Call OI	Put OI
2025-09-02	$29.89	$0.00	53.1%	15.2%	62.1%	0.0%	0.0%	-18.9%	-7.2%	-483	19.9K	-350	0.00	136.89	N/A	N/A	0	0	13	33
2025-09-03	$27.94	$0.00	36.9%	10.6%	66.2%	0.0%	0.0%	-5.3%	-9.4%	-804	43.0K	-303	0.00	134.56	N/A	N/A	0	0	13	33
2025-09-04	$28.51	$16.00	40.7%	8.0%	66.3%	0.0%	0.0%	-4.2%	-11.9%	-255	32.9K	-330	0.00	129.71	N/A	N/A	0	0	13	33
2025-09-05	$27.73	$16.00	40.7%	8.7%	65.8%	0.0%	0.0%	3.3%	-6.7%	-688	37.2K	-311	2.00	134.22	N/A	N/A	1	2	13	33
2025-09-08	$28.41	$16.00	44.5%	8.6%	61.8%	0.0%	0.0%	5.7%	-4.4%	-850	46.7K	-318	0.00	130.89	N/A	N/A	0	0	14	35
2025-09-09	$28.04	$16.00	48.6%	9.3%	55.7%	0.0%	0.0%	5.1%	-6.0%	-651	36.9K	-343	0.00	138.68	N/A	N/A	0	0	14	35
2025-09-10	$27.91	$16.00	32.8%	9.4%	55.7%	0.0%	83.5%	2.3%	-7.4%	-543	38.0K	-339	0.00	138.96	N/A	N/A	1	0	14	35
2025-09-11	$27.91	$16.00	31.8%	9.1%	54.9%	0.0%	0.0%	2.1%	-6.3%	-568	37.9K	-339	0.00	135.64	N/A	N/A	0	0	14	35
2025-09-12	$28.41	$16.00	32.2%	9.2%	54.9%	0.0%	0.0%	2.5%	-6.4%	-572	34.3K	-343	0.00	137.68	N/A	N/A	1	0	14	35
2025-09-15	$28.40	$16.00	34.4%	9.9%	48.4%	0.0%	0.0%	7.2%	-7.5%	-575	33.5K	-349	0.00	138.63	N/A	N/A	0	0	15	35
2025-09-16	$28.69	$16.00	30.8%	8.8%	48.5%	0.0%	0.0%	9.0%	-12.6%	-395	33.2K	-354	0.00	134.35	N/A	N/A	0	0	15	35
2025-09-17	$28.22	$16.00	34.2%	9.8%	47.6%	0.0%	0.0%	3.5%	-9.1%	-540	35.4K	-342	0.00	132.93	N/A	N/A	0	0	15	35
2025-09-18	$29.19	$16.00	36.8%	10.6%	49.0%	0.0%	0.0%	-0.8%	-6.4%	-474	28.3K	-356	0.00	142.32	N/A	N/A	0	0	15	35
2025-09-19	$29.21	$16.00	34.3%	9.8%	48.8%	0.0%	0.0%	-1.4%	-1.4%	-374	28.9K	-355	0.00	139.46	N/A	N/A	0	0	15	35
2025-09-22	$29.01	$16.00	34.0%	9.8%	47.6%	0.0%	0.0%	-4.2%	-4.7%	-112	31.4K	-349	0.00	136.50	N/A	N/A	0	0	15	35
2025-09-23	$28.35	$16.00	38.1%	10.9%	48.1%	0.0%	0.0%	-1.7%	-8.8%	-409	35.2K	-337	0.00	135.46	N/A	N/A	0	0	15	35
2025-09-24	$28.76	$16.00	34.4%	9.9%	47.4%	0.0%	0.0%	-2.3%	-5.6%	-216	33.5K	-346	0.00	132.49	N/A	N/A	0	0	15	35
2025-09-25	$28.64	$16.00	37.5%	10.7%	46.3%	0.0%	0.0%	37.3%	-4.5%	38	34.9K	-344	0.00	138.16	N/A	N/A	0	0	15	35
2025-09-26	$27.73	$16.00	42.7%	12.2%	47.8%	0.0%	0.0%	2.5%	-10.6%	-468	38.3K	-328	0.00	140.42	N/A	N/A	0	0	15	35
2025-09-29	$28.77	$16.00	42.0%	12.0%	48.8%	0.0%	0.0%	15.6%	-5.1%	-269	43.0K	-319	0.00	141.84	N/A	N/A	0	0	15	35
2025-09-30	$28.55	$16.00	39.4%	11.3%	39.0%	0.0%	0.0%	-0.6%	-3.9%	-240	41.6K	-321	0.00	138.69	N/A	N/A	0	0	15	35