BMAX Options History — December 2025 In December 2025, BMAX traded between $22.71 and $30.88. ATM implied volatility averaged 87.2%, placing in the 50.0% IV rank vs the trailing year. The 30-day expected move averaged 23.7%. IV traded below realized volatility by 128.1% (HV 20d: 215.3%). Max pain ranged from $29.00 to $29.00. Net GEX was positive for 0 of 22 trading days. Term structure was in contango for 3 of 22 days. Put/call ratio averaged 0.00.
Notable Days 2025-12-04 : Highest Volume — 50 contracts2025-12-30 : Largest IV spike — 154.2% change2025-12-01 : Highest IV Rank — 100.0%2025-12-31 : Largest Expected Move — 39.7%Monthly Statistics Metric Avg Min Max Open Close Price $26.69 $22.71 $30.88 $28.62 $28.57 Max Pain $29.00 $29.00 $29.00 $29.00 $29.00 ATM IV 87.2% 49.0% 152.9% 120.3% 138.6% Expected Move 23.7% 12.1% 39.7% 34.5% 39.7% HV 20d 215.3% 169.0% 245.4% 170.8% 234.3% HV 60d 139.6% 108.7% 170.6% 108.7% 170.6% IV Rank 50.0% 14.9% 100.0% 100.0% 88.3% IV Percentile 84.5% 60.2% 100.0% 100.0% 99.4% Term Structure -6.9% -21.0% 28.7% -21.0% -12.3% Skew 25d 23.4% -2.2% 101.0% 19.2% 36.2% Skew 10d 47.6% 4.7% 159.1% 44.7% 82.9% Call IV 25d 52.9% 34.4% 77.2% 77.2% 62.7% Put IV 25d 76.2% 47.2% 135.4% 96.4% 98.9% Bid-Ask Spread % 140.38 133.56 151.80 151.80 143.00 Gamma HHI 0.46 0.39 0.68 0.51 0.40 Net GEX -2.3K -5.3K -1.2K -1.4K -2.0K Net DEX 87.2K 64.7K 112.1K 64.7K 77.1K Net VEX -571 -706 -340 -483 -625 Div Yield 0.0% 0.0% 0.0% 0.0% 0.0% P/C Ratio 0.00 0.00 0.00 0.00 0.00 Total Volume 2.818 0 50 10 0 Total OI 111.136 77 118 77 117
Daily Data (22 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 2025-12-01 $28.62 $0.00 120.3% 34.5% 170.8% 100.0% 0.0% 19.2% -21.0% -1.4K 64.7K -483 0.00 151.80 N/A N/A 0 10 6 71 2025-12-02 $29.34 $0.00 119.4% 34.2% 169.0% 99.0% 0.0% 17.2% -0.7% -1.7K 67.9K -549 0.00 138.61 N/A N/A 0 0 6 81 2025-12-03 $24.65 $0.00 52.4% 15.0% 180.5% 24.2% 0.0% 3.4% -15.7% -2.3K 101.1K -387 0.00 146.08 N/A N/A 0 0 6 81 2025-12-04 $23.75 $29.00 52.4% 12.1% 180.9% 24.2% 0.0% 7.0% -8.4% -2.2K 109.2K -340 0.00 137.75 N/A N/A 0 50 6 81 2025-12-05 $24.02 $29.00 59.4% 13.3% 180.9% 32.0% 0.0% 8.6% -7.6% -3.3K 108.7K -514 0.00 144.40 N/A N/A 0 0 6 111 2025-12-08 $23.95 $29.00 61.8% 13.0% 180.6% 34.7% 0.0% 10.4% -6.3% -2.7K 103.0K -562 0.00 138.76 N/A N/A 0 0 6 111 2025-12-09 $29.55 $29.00 152.9% 26.8% 195.8% 100.0% 0.0% 34.8% -12.6% -1.9K 75.2K -706 0.00 139.90 N/A N/A 1 0 6 111 2025-12-10 $25.86 $29.00 49.0% 14.0% 202.0% 14.9% 0.0% -0.4% -4.8% -2.4K 85.4K -586 0.00 137.05 N/A N/A 1 0 7 111 2025-12-11 $30.88 $29.00 119.0% 34.1% 211.1% 72.2% 0.0% 101.0% -13.7% -1.2K 65.9K -705 0.00 136.79 N/A N/A 0 0 6 111 2025-12-12 $23.26 $29.00 49.5% 14.2% 235.6% 15.4% 0.0% 4.3% -17.3% -2.9K 109.0K -550 0.00 144.04 N/A N/A 0 0 6 111 2025-12-15 $24.05 $29.00 53.6% 15.4% 235.9% 18.6% 0.0% 7.8% -8.1% -2.6K 105.8K -516 0.00 145.40 N/A N/A 0 0 6 111 2025-12-16 $28.88 $29.00 84.4% 24.2% 244.6% 43.9% 0.0% 42.8% 28.7% -1.9K 77.6K -684 0.00 145.61 N/A N/A 0 0 6 111 2025-12-17 $28.81 $29.00 89.4% 25.6% 235.3% 48.0% 0.0% 38.2% 3.2% -2.0K 76.3K -659 0.00 144.23 N/A N/A 0 0 6 111 2025-12-18 $28.55 $29.00 98.4% 28.2% 224.8% 55.4% 0.0% 45.6% 8.3% -1.8K 78.2K -676 0.00 134.83 N/A N/A 0 0 6 111 2025-12-19 $23.77 $29.00 52.8% 15.1% 234.5% 18.0% 0.0% -2.2% -6.0% -2.6K 98.7K -561 0.00 133.56 N/A N/A 0 0 6 111 2025-12-22 $23.63 $29.00 51.9% 14.9% 234.5% 17.3% 0.0% 10.2% -6.0% -5.3K 92.8K -378 0.00 134.33 N/A N/A 0 0 6 111 2025-12-23 $29.00 $29.00 111.0% 31.8% 245.4% 65.7% 0.0% 44.6% -6.6% -1.9K 77.1K -672 0.00 134.26 N/A N/A 0 0 6 111 2025-12-24 $28.62 $29.00 112.9% 32.4% 245.4% 67.2% 0.0% 32.2% -8.1% -2.0K 77.7K -642 0.00 140.13 N/A N/A 0 0 6 111 2025-12-26 $27.89 $29.00 100.7% 28.9% 230.4% 57.3% 0.0% 20.6% -7.8% -2.1K 79.2K -628 0.00 139.26 N/A N/A 0 0 6 111 2025-12-29 $22.71 $29.00 53.1% 15.2% 229.0% 18.3% 0.0% -1.3% -18.0% -2.8K 112.1K -518 0.00 138.56 N/A N/A 0 0 6 111 2025-12-30 $28.72 $29.00 135.0% 38.7% 234.5% 85.3% 0.0% 34.2% -11.0% -2.0K 75.8K -629 0.00 139.92 N/A N/A 0 0 6 111 2025-12-31 $28.57 $29.00 138.6% 39.7% 234.3% 88.3% 0.0% 36.2% -12.3% -2.0K 77.1K -625 0.00 143.00 N/A N/A 0 0 6 111
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