BMAX Options History — January 2026 In January 2026, BMAX traded between $22.94 and $31.43. ATM implied volatility averaged 88.6%, placing in the 30.3% IV rank vs the trailing year. The 30-day expected move averaged 17.7%. IV traded below realized volatility by 138.7% (HV 20d: 227.3%). Max pain ranged from $29.00 to $29.00. Net GEX was positive for 0 of 20 trading days. Term structure was in contango for 0 of 20 days.
Notable Days 2026-01-09 : Largest IV spike — 167.5% change2026-01-09 : Highest IV Rank — 100.0%2026-01-14 : Largest Expected Move — 32.2%Monthly Statistics Metric Avg Min Max Open Close Price $25.92 $22.94 $31.43 $23.07 $23.40 Max Pain $29.00 $29.00 $29.00 $29.00 $29.00 ATM IV 88.6% 39.4% 266.0% 58.4% 50.6% Expected Move 17.7% 10.7% 32.2% 16.7% 14.5% HV 20d 227.3% 186.7% 249.0% 238.6% 249.0% HV 60d 189.8% 175.8% 217.1% 176.1% 216.7% IV Rank 30.3% 3.7% 100.0% 22.6% 8.4% IV Percentile 70.4% 18.0% 100.0% 72.7% 56.4% Term Structure -11.2% -53.5% -3.0% -21.4% -12.9% Skew 25d 9.3% -6.5% 46.3% -0.7% 1.5% Skew 10d 23.1% -0.3% 89.5% 5.8% 3.0% Call IV 25d 48.1% 26.8% 95.0% 61.4% 50.9% Put IV 25d 57.4% 39.7% 106.2% 60.8% 52.4% Bid-Ask Spread % 147.29 139.69 157.07 141.45 147.54 Gamma HHI 0.50 0.40 0.60 0.60 0.60 Net GEX -2.6K -3.2K -1.5K -3.1K -3.1K Net DEX 91.3K 64.0K 114.7K 114.7K 110.8K Net VEX -491 -565 -407 -499 -443 Div Yield 0.0% 0.0% 0.0% 0.0% 0.0% Total Volume 0 0 0 0 0 Total OI 114.3 111 117 117 111
Daily Data (20 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 2026-01-02 $23.07 $29.00 58.4% 16.7% 238.6% 22.6% 0.0% -0.7% -21.4% -3.1K 114.7K -499 0.00 141.45 N/A N/A 0 0 6 111 2026-01-05 $23.42 $0.00 60.5% 10.9% 238.3% 24.3% 0.0% 2.7% -3.0% -3.2K 112.6K -463 0.00 147.92 N/A N/A 0 0 6 111 2026-01-06 $23.55 $0.00 65.9% 11.2% 238.3% 28.8% 0.0% 1.6% -7.0% -2.8K 105.6K -465 0.00 152.48 N/A N/A 0 0 6 111 2026-01-07 $22.94 $0.00 63.5% 10.7% 238.5% 26.7% 0.0% -0.4% -3.7% -2.9K 114.2K -488 0.00 142.97 N/A N/A 0 0 6 111 2026-01-08 $22.94 $0.00 76.6% 12.1% 224.9% 37.5% 0.0% -2.1% -13.7% -3.0K 109.3K -497 0.00 150.07 N/A N/A 0 0 6 111 2026-01-09 $27.57 $0.00 204.9% 23.9% 230.5% 100.0% 0.0% 11.2% -24.4% -2.2K 76.2K -565 0.00 155.98 N/A N/A 0 0 6 111 2026-01-12 $27.57 $0.00 175.6% 16.6% 221.1% 83.2% 0.0% 8.9% -3.0% -2.6K 80.9K -550 0.00 150.14 N/A N/A 0 0 6 111 2026-01-13 $29.98 $0.00 266.0% 21.9% 197.0% 100.0% 0.0% 29.3% -9.5% -2.3K 67.5K -551 0.00 150.94 N/A N/A 0 0 6 111 2026-01-14 $30.88 $0.00 112.2% 32.2% 197.0% 34.6% 0.0% -0.8% -53.5% -2.3K 64.5K -551 0.00 157.07 N/A N/A 0 0 6 111 2026-01-15 $30.07 $0.00 83.6% 24.0% 186.7% 22.4% 0.0% 32.8% -3.1% -2.3K 67.0K -545 0.00 147.80 N/A N/A 0 0 6 111 2026-01-16 $23.75 $0.00 39.5% 11.3% 205.0% 3.7% 0.0% -0.3% -5.1% -2.8K 102.8K -465 0.00 144.75 N/A N/A 0 0 6 111 2026-01-20 $23.57 $0.00 40.7% 11.7% 205.0% 4.2% 0.0% 0.9% -5.8% -2.9K 105.8K -457 0.00 143.34 N/A N/A 0 0 2 109 2026-01-21 $31.43 $0.00 104.3% 29.9% 219.7% 31.3% 0.0% 46.3% -3.7% -1.5K 64.0K -538 0.00 148.79 N/A N/A 0 0 2 109 2026-01-22 $24.57 $0.00 39.4% 11.3% 238.3% 3.7% 0.0% 2.4% -5.8% -3.0K 96.8K -431 0.00 145.41 N/A N/A 0 0 2 109 2026-01-23 $28.71 $0.00 80.0% 22.9% 233.4% 20.9% 0.0% 16.1% -5.4% -2.0K 68.9K -515 0.00 140.40 N/A N/A 0 0 2 109 2026-01-26 $23.31 $0.00 52.3% 15.0% 244.8% 9.1% 0.0% -6.5% -17.6% -2.6K 94.7K -407 0.00 146.18 N/A N/A 0 0 2 109 2026-01-27 $24.32 $0.00 41.4% 11.9% 245.4% 4.5% 0.0% 2.8% -7.2% -3.1K 100.0K -434 0.00 139.69 N/A N/A 0 0 2 109 2026-01-28 $30.07 $0.00 107.4% 30.8% 245.4% 32.6% 0.0% 41.3% -5.5% -1.9K 74.2K -538 0.00 150.18 N/A N/A 0 0 2 109 2026-01-29 $23.23 $0.00 48.6% 13.9% 248.9% 7.6% 0.0% -1.4% -11.7% -2.8K 96.4K -424 0.00 142.68 N/A N/A 0 0 2 109 2026-01-30 $23.40 $0.00 50.6% 14.5% 249.0% 8.4% 0.0% 1.5% -12.9% -3.1K 110.8K -443 0.00 147.54 N/A N/A 0 0 2 109
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