IBIT Options History — August 2025

In August 2025, IBIT traded between $61.66 and $69.69. ATM implied volatility averaged 36.0%, placing in the 8.9% IV rank vs the trailing year. The 30-day expected move averaged 10.5%. IV traded above realized volatility by 6.3% (HV 20d: 29.7%). Max pain ranged from $60.00 to $60.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 17 of 21 days. Put/call ratio averaged 0.46.

Notable Days

2025-08-29: Highest Volume — 947,022 contracts
2025-08-11: Largest IV spike — 10.0% change
2025-08-13: Highest IV Rank — 20.4%
2025-08-13: Largest Expected Move — 11.4%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$65.31	$61.66	$69.69	$64.23	$61.66
Max Pain	$60.00	$60.00	$60.00	$60.00	$60.00
ATM IV	36.0%	32.7%	39.4%	38.6%	38.1%
Expected Move	10.5%	9.5%	11.4%	10.7%	11.1%
HV 20d	29.7%	24.2%	36.1%	29.6%	35.9%
HV 60d	31.2%	29.7%	33.1%	31.7%	33.1%
IV Rank	8.9%	0.0%	20.4%	10.5%	16.4%
IV Percentile	5.0%	0.0%	13.6%	5.8%	13.6%
Term Structure	0.7%	-0.9%	1.7%	1.0%	-0.9%
VWIV	37.7%	33.9%	40.8%	40.3%	40.4%
Skew 25d	3.5%	1.0%	5.6%	4.2%	4.9%
Skew 10d	8.4%	2.1%	15.9%	10.3%	12.0%
Call IV 25d	35.3%	32.2%	40.0%	37.2%	37.3%
Put IV 25d	38.9%	34.4%	42.2%	41.4%	42.2%
Bid-Ask Spread %	3.49	2.34	4.55	3.09	3.76
Gamma HHI	0.08	0.06	0.09	0.06	0.08
Net GEX	163.9M	46.4M	304.1M	129.4M	46.4M
Net DEX	-6.50B	-10.85B	-3.31B	-5.61B	-3.31B
Net VEX	-36.5M	-38.5M	-33.6M	-35.4M	-36.4M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.46	0.29	0.70	0.70	0.51
Total Volume	576,672.524	362,441	947,022	792,465	947,022
Total OI	4,919,836.667	4,514,968	5,404,423	4,802,090	5,191,034

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 Vol	Put Vol	Call OI	Put OI
2025-08-01	$64.23	$60.00	38.6%	10.7%	29.6%	10.5%	40.3%	4.2%	1.0%	129.4M	-5.61B	-35.4M	0.70	3.09	465,596	326,869	3,049,006	1,753,084
2025-08-04	$65.19	$60.00	36.3%	11.1%	29.3%	2.8%	39.9%	2.8%	1.2%	176.7M	-6.69B	-34.4M	0.51	4.55	239,430	123,011	3,007,315	1,730,370
2025-08-05	$64.56	$60.00	35.2%	10.8%	29.6%	0.0%	38.0%	3.6%	1.2%	154.2M	-6.12B	-33.6M	0.36	3.76	333,565	119,972	3,036,213	1,769,020
2025-08-06	$65.53	$60.00	32.7%	10.1%	28.7%	0.0%	36.2%	3.0%	1.5%	199.5M	-7.06B	-34.0M	0.67	3.90	263,356	176,803	3,056,254	1,807,886
2025-08-07	$66.78	$60.00	33.6%	10.4%	29.0%	2.6%	37.0%	2.3%	1.7%	240.5M	-8.22B	-34.2M	0.58	3.94	235,674	136,482	3,053,853	1,868,678
2025-08-08	$66.16	$60.00	32.8%	10.1%	25.7%	0.3%	36.1%	2.1%	1.5%	148.1M	-7.52B	-34.5M	0.43	3.53	275,641	119,860	3,094,038	1,896,499
2025-08-11	$67.65	$60.00	36.1%	10.7%	26.3%	10.4%	38.6%	1.6%	1.2%	238.7M	-8.55B	-35.0M	0.40	3.43	588,439	237,450	2,943,374	1,748,523
2025-08-12	$68.00	$60.00	36.4%	10.8%	24.2%	11.1%	38.6%	1.7%	1.2%	263.7M	-9.02B	-35.7M	0.70	3.21	290,825	202,432	3,102,357	1,821,047
2025-08-13	$69.69	$60.00	39.4%	11.4%	24.5%	20.4%	40.8%	1.0%	0.4%	304.1M	-10.85B	-37.3M	0.29	3.92	599,317	173,717	3,189,730	1,878,965
2025-08-14	$67.19	$60.00	37.9%	11.1%	27.9%	15.8%	38.8%	4.2%	1.1%	243.4M	-8.27B	-38.0M	0.34	3.17	507,562	172,871	3,328,471	1,944,764
2025-08-15	$66.47	$60.00	36.8%	10.8%	27.5%	12.5%	36.9%	5.6%	1.3%	161.1M	-7.57B	-38.2M	0.35	3.99	501,404	174,569	3,423,161	1,981,262
2025-08-18	$66.02	$60.00	35.0%	10.1%	27.5%	6.8%	35.9%	4.7%	0.5%	158.1M	-6.47B	-37.3M	0.51	3.41	432,322	218,649	2,938,176	1,576,792
2025-08-19	$64.37	$60.00	36.1%	10.4%	27.5%	10.5%	35.6%	5.6%	0.3%	117.0M	-5.22B	-37.4M	0.41	3.19	393,350	162,801	3,025,144	1,679,091
2025-08-20	$64.75	$60.00	34.2%	9.8%	27.6%	4.4%	34.9%	5.4%	0.9%	124.7M	-5.43B	-37.7M	0.36	3.86	338,004	120,618	3,046,201	1,734,940
2025-08-21	$63.59	$60.00	35.5%	10.2%	28.0%	8.6%	38.1%	5.2%	0.5%	81.8M	-4.46B	-37.1M	0.57	2.34	237,642	135,075	3,074,411	1,780,256
2025-08-22	$66.28	$60.00	33.4%	9.5%	31.6%	1.9%	33.9%	1.3%	0.7%	199.0M	-7.26B	-38.5M	0.42	3.58	624,487	264,665	3,124,616	1,810,843
2025-08-25	$63.14	$60.00	35.9%	10.3%	35.9%	9.8%	36.9%	4.3%	0.2%	96.3M	-4.39B	-36.8M	0.39	3.81	420,954	164,793	3,070,286	1,687,287
2025-08-26	$63.03	$60.00	38.2%	10.9%	35.9%	16.7%	39.2%	3.8%	-0.1%	93.2M	-4.37B	-37.6M	0.37	3.39	380,699	142,405	3,140,315	1,760,350
2025-08-27	$63.64	$60.00	36.7%	10.3%	36.1%	12.2%	37.8%	3.8%	-0.4%	122.2M	-4.94B	-38.0M	0.44	3.08	304,093	134,368	3,199,970	1,811,127
2025-08-28	$63.66	$60.00	36.9%	10.4%	36.0%	12.7%	37.0%	3.6%	-0.5%	143.9M	-5.11B	-38.4M	0.38	2.36	306,821	116,510	3,334,128	1,847,733
2025-08-29	$61.66	$60.00	38.1%	11.1%	35.9%	16.4%	40.4%	4.9%	-0.9%	46.4M	-3.31B	-36.4M	0.51	3.76	625,429	321,593	3,332,208	1,858,826