IBIT Options History — April 2025

In April 2025, IBIT traded between $43.36 and $54.20. ATM implied volatility averaged 50.7%. The 30-day expected move averaged 14.4%. IV traded below realized volatility by 9.1% (HV 20d: 59.8%). Max pain ranged from $49.00 to $50.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 15 of 21 days. Put/call ratio averaged 0.58.

Notable Days

  • 2025-04-04: Highest Volume — 643,832 contracts
  • 2025-04-09: Largest IV drop — 14.8% change
  • 2025-04-08: Largest Expected Move — 17.2%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$49.29$43.36$54.20$48.38$53.41
Max Pain$49.62$49.00$50.00$50.00$49.00
ATM IV50.7%44.0%61.0%48.7%44.0%
Expected Move14.4%11.6%17.2%14.2%11.6%
HV 20d59.8%54.5%64.3%61.4%56.6%
HV 60d53.3%49.4%55.1%50.0%54.3%
Term Structure0.5%-0.6%1.7%0.2%0.9%
VWIV51.1%42.1%60.0%49.9%42.1%
Skew 25d2.3%-2.9%7.8%4.8%-1.3%
Skew 10d7.7%-3.4%18.9%11.4%1.8%
Call IV 25d50.3%45.3%57.4%46.9%45.3%
Put IV 25d52.6%44.0%65.0%51.7%44.0%
Bid-Ask Spread %3.382.625.862.842.62
Gamma HHI0.070.040.130.080.06
Net GEX78.2M1.7M149.0M61.6M101.5M
Net DEX-2.45B-4.77B-341.0M-1.67B-3.70B
Net VEX-16.8M-20.1M-13.8M-14.8M-19.8M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.580.311.070.700.63
Total Volume390,420.714181,639643,832220,159322,045
Total OI2,687,597.7622,318,5972,920,7132,318,5972,814,218

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2025-04-01$48.38$50.0048.7%14.2%61.4%0.0%49.9%4.8%0.2%61.6M-1.67B-14.8M0.702.84129,31790,8421,559,575759,022
2025-04-02$49.22$50.0048.9%14.1%61.0%0.0%50.4%4.0%-0.1%77.7M-1.99B-15.0M0.632.90111,34770,2921,588,507792,588
2025-04-03$46.66$50.0053.6%15.2%63.4%0.0%53.9%6.5%-0.3%18.2M-1.04B-14.2M0.662.99275,283182,8191,614,053818,403
2025-04-04$47.94$50.0056.7%16.2%64.3%0.0%59.2%7.6%-0.0%44.4M-1.59B-15.2M0.934.02333,453310,3791,624,387853,193
2025-04-07$44.34$50.0059.6%16.9%58.1%0.0%60.0%6.6%-0.4%6.2M-547.8M-13.9M1.075.86296,576316,1151,564,493904,884
2025-04-08$43.36$50.0061.0%17.2%54.5%0.0%59.1%7.8%-0.6%1.7M-341.0M-13.8M0.632.81237,124148,4251,654,9661,025,863
2025-04-09$46.70$50.0051.9%15.0%61.2%0.0%53.4%3.3%0.3%41.6M-1.41B-15.0M0.512.99354,119180,6261,670,4511,071,529
2025-04-10$45.09$50.0055.9%16.0%61.4%0.0%56.1%5.6%-0.5%12.3M-900.3M-15.2M0.873.15177,562153,9401,732,2511,076,435
2025-04-11$47.61$50.0056.5%16.2%61.6%0.0%57.1%2.9%0.2%75.7M-2.06B-16.2M0.373.32382,042140,5961,780,0821,138,544
2025-04-14$48.33$50.0053.0%15.2%61.8%0.0%54.4%2.5%0.5%81.9M-2.28B-16.6M0.423.01263,953110,9931,742,155951,985
2025-04-15$47.73$50.0048.6%14.0%60.8%0.0%49.6%2.2%1.1%80.2M-2.03B-16.2M0.563.49139,49778,5251,799,772984,239
2025-04-16$47.86$50.0050.7%14.5%59.0%0.0%50.5%2.7%0.7%82.3M-2.06B-16.2M0.583.54170,73599,2461,825,792996,510
2025-04-17$48.19$50.0046.5%13.3%58.9%0.0%47.4%2.0%1.4%104.9M-2.31B-16.4M0.453.66209,65794,2471,888,0301,031,454
2025-04-21$49.64$49.0050.5%14.2%59.7%0.0%50.4%1.3%1.1%88.0M-2.50B-17.4M0.543.34336,066182,7171,637,303783,364
2025-04-22$51.97$49.0048.8%13.8%59.4%0.0%49.8%-0.7%0.9%115.7M-3.57B-18.4M0.313.82475,293145,8341,741,309872,924
2025-04-23$53.16$49.0048.2%13.7%59.8%0.0%48.8%-1.1%0.8%149.0M-4.27B-19.5M0.333.67370,492122,1111,903,704928,459
2025-04-24$53.25$49.0045.8%13.0%59.3%0.0%46.4%-1.2%0.6%140.8M-4.23B-19.3M0.473.68153,58772,7671,903,454964,074
2025-04-25$54.14$49.0044.8%12.5%59.5%0.0%46.4%-2.2%1.4%125.7M-4.77B-19.8M0.533.59296,763157,5241,944,590976,123
2025-04-28$53.94$49.0046.2%12.7%57.0%0.0%45.1%-2.9%1.7%112.3M-4.01B-19.9M0.452.65210,41195,1561,858,736853,949
2025-04-29$54.20$49.0044.1%11.9%56.7%0.0%42.5%-2.0%1.3%120.1M-4.19B-20.1M0.513.12132,98967,3701,912,669895,514
2025-04-30$53.41$49.0044.0%11.6%56.6%0.0%42.1%-1.3%0.9%101.5M-3.70B-19.8M0.632.62197,914124,1311,908,338905,880