BMAX Options History — October 2025

In October 2025, BMAX traded between $25.90 and $30.00. ATM implied volatility averaged 49.4%, placing in the 21.2% IV rank vs the trailing year. The 30-day expected move averaged 12.2%. IV traded below realized volatility by 5.6% (HV 20d: 55.0%). Max pain ranged from $16.00 to $29.00. Net GEX was positive for 19 of 23 trading days. Term structure was in contango for 1 of 23 days. Put/call ratio averaged 0.00.

Notable Days

  • 2025-10-01: Highest Volume — 20 contracts
  • 2025-10-15: Largest IV drop — 37.8% change
  • 2025-10-21: Highest IV Rank — 34.8%
  • 2025-10-21: Largest Expected Move — 15.5%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$27.94$25.90$30.00$27.73$27.50
Max Pain$27.30$16.00$29.00$16.00$29.00
ATM IV49.4%38.1%89.3%50.0%43.0%
Expected Move12.2%10.0%15.5%14.3%12.3%
HV 20d55.0%32.4%82.0%32.4%78.6%
HV 60d52.3%44.8%62.0%44.8%61.8%
IV Rank21.2%13.5%34.8%34.8%18.3%
IV Percentile51.5%27.9%79.4%79.4%49.3%
Term Structure-8.1%-17.0%1.9%-16.1%-5.8%
Skew 25d1.5%-4.6%6.2%-0.6%5.5%
Skew 10d10.3%2.4%68.9%6.0%6.0%
Call IV 25d43.0%34.1%54.4%34.1%44.5%
Put IV 25d44.5%33.5%57.7%33.5%50.0%
Bid-Ask Spread %137.95128.91144.11135.28137.07
Gamma HHI0.480.430.540.540.47
Net GEX591-6311.9K-63188
Net DEX24.0K-1.2K53.0K36.3K53.0K
Net VEX-353-410-298-319-325
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.000.000.000.000.00
Total Volume1.391020200
Total OI67.73950765066

Daily Data (23 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2025-10-01$27.73$16.0050.0%14.3%32.4%0.0%0.0%-0.6%-16.1%-63136.3K-3190.00135.28N/AN/A2001535
2025-10-02$29.26$16.0038.1%10.9%37.0%0.0%0.0%0.2%1.9%1.2K5.5K-4020.00136.34N/AN/A003535
2025-10-03$29.13$16.0038.1%10.9%35.5%0.0%0.0%-3.3%-4.8%1.6K1.3K-4100.00128.91N/AN/A103535
2025-10-06$29.52$29.0051.5%10.0%34.8%0.0%0.0%3.3%-0.4%1.2K-660-4070.00139.56N/AN/A003635
2025-10-07$29.14$29.0042.2%10.8%34.8%0.0%0.0%5.3%-9.2%1.5K5.9K-4030.00133.61N/AN/A003635
2025-10-08$29.08$29.0047.1%10.3%34.8%0.0%0.0%5.4%-5.2%1.9K8.8K-3910.00139.20N/AN/A003640
2025-10-09$27.74$29.0060.7%11.9%38.9%0.0%0.0%-0.4%-13.1%91815.6K-3900.00134.77N/AN/A003640
2025-10-10$28.31$29.0069.8%11.8%39.1%0.0%0.0%1.9%-9.0%1.1K6.7K-3960.00143.14N/AN/A003640
2025-10-13$27.21$29.0089.3%12.8%41.5%0.0%0.0%-0.7%-17.0%56320.9K-3640.00137.90N/AN/A053640
2025-10-14$28.55$29.0067.7%11.3%45.0%0.0%0.0%0.9%-13.8%1.3K18.7K-3630.00135.02N/AN/A003640
2025-10-15$27.25$29.0042.1%12.1%47.7%0.0%0.0%1.9%-7.6%82424.8K-3530.00137.51N/AN/A003640
2025-10-16$27.24$29.0043.5%12.5%45.8%0.0%0.0%1.0%-6.3%78027.8K-3470.00140.48N/AN/A003640
2025-10-17$26.30$29.0050.2%14.4%47.1%0.0%0.0%-2.4%-13.2%-34334.0K-3250.00135.81N/AN/A003640
2025-10-20$27.33$29.0041.3%11.8%49.6%0.0%0.0%-1.1%-6.8%30535.0K-3420.00137.68N/AN/A002735
2025-10-21$30.00$29.0053.9%15.5%59.5%34.8%0.0%4.7%-3.3%-247-1.2K-3920.00140.15N/AN/A002735
2025-10-22$25.90$29.0051.2%14.7%79.6%30.7%0.0%-4.6%-12.2%-32838.3K-3130.00140.42N/AN/A102735
2025-10-23$27.25$29.0040.5%11.6%82.0%14.7%0.0%2.6%-6.8%29845.1K-3020.00136.61N/AN/A002635
2025-10-24$27.79$29.0039.8%11.4%81.6%13.5%0.0%6.2%-4.9%43841.6K-3030.00139.15N/AN/A002635
2025-10-27$27.99$29.0042.8%12.3%80.5%18.1%0.0%2.7%-7.4%39826.9K-3400.00140.23N/AN/A002635
2025-10-28$27.55$29.0041.3%11.8%80.6%15.8%0.0%1.5%-7.2%15141.6K-2980.00140.21N/AN/A002635
2025-10-29$27.80$29.0043.8%12.6%80.0%19.7%0.0%3.5%-8.9%42728.9K-3280.00144.11N/AN/A002635
2025-10-30$26.94$29.0047.4%13.6%78.2%25.0%0.0%1.3%-10.0%15637.7K-3030.00139.73N/AN/A052635
2025-10-31$27.50$29.0043.0%12.3%78.6%18.3%0.0%5.5%-5.8%8853.0K-3250.00137.07N/AN/A002640