IBIT Options History — October 2025

In October 2025, IBIT traded between $60.44 and $71.31. ATM implied volatility averaged 44.1%, placing in the 35.0% IV rank vs the trailing year. The 30-day expected move averaged 12.8%. IV traded above realized volatility by 5.9% (HV 20d: 38.3%). Max pain ranged from $60.00 to $62.00. Net GEX was positive for 23 of 23 trading days. Term structure was in contango for 22 of 23 days. Put/call ratio averaged 0.35.

Notable Days

2025-10-02: Highest Volume — 1,339,349 contracts
2025-10-20: Largest IV drop — 9.7% change
2025-10-17: Highest IV Rank — 56.9%
2025-10-17: Largest Expected Move — 14.7%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$64.96	$60.44	$71.31	$66.84	$62.38
Max Pain	$61.00	$60.00	$62.00	$62.00	$61.00
ATM IV	44.1%	36.9%	51.3%	36.9%	42.8%
Expected Move	12.8%	10.3%	14.7%	10.3%	12.3%
HV 20d	38.3%	31.8%	43.0%	31.8%	42.0%
HV 60d	33.8%	31.6%	37.0%	32.2%	37.0%
IV Rank	35.0%	12.6%	56.9%	12.6%	31.0%
IV Percentile	45.6%	15.0%	68.0%	15.0%	40.4%
Term Structure	0.8%	-0.2%	1.8%	1.7%	0.6%
VWIV	47.5%	37.1%	53.3%	37.1%	46.9%
Skew 25d	2.2%	-2.4%	7.8%	2.4%	3.5%
Skew 10d	5.0%	-6.4%	17.7%	6.0%	7.3%
Call IV 25d	45.4%	37.1%	50.6%	37.1%	42.6%
Put IV 25d	47.6%	39.5%	57.8%	39.5%	46.1%
Bid-Ask Spread %	2.56	2.07	3.35	2.25	2.83
Gamma HHI	0.07	0.05	0.14	0.10	0.05
Net GEX	280.2M	30.1M	544.7M	420.6M	186.9M
Net DEX	-8.60B	-16.03B	-3.25B	-10.61B	-6.18B
Net VEX	-54.4M	-58.0M	-48.9M	-48.9M	-54.6M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.35	0.15	0.53	0.22	0.30
Total Volume	918,921.348	483,485	1,339,349	974,921	783,132
Total OI	7,437,231.348	6,385,245	7,939,174	6,385,245	7,939,174

Daily Data (23 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
2025-10-01	$66.84	$62.00	36.9%	10.3%	31.8%	12.6%	37.1%	2.4%	1.7%	420.6M	-10.61B	-48.9M	0.22	2.25	801,523	173,398	4,422,761	1,962,484
2025-10-02	$68.65	$62.00	38.0%	10.4%	31.8%	16.3%	37.3%	2.2%	0.9%	495.5M	-13.03B	-51.0M	0.25	2.07	1,070,608	268,741	4,693,702	2,026,736
2025-10-03	$69.85	$62.00	40.7%	11.2%	32.0%	24.4%	40.6%	1.7%	0.5%	532.4M	-14.67B	-53.3M	0.32	2.70	984,214	318,545	4,987,632	2,150,087
2025-10-06	$71.31	$60.00	43.1%	13.2%	32.4%	31.9%	52.0%	-2.4%	1.2%	544.7M	-16.03B	-55.2M	0.32	2.19	931,438	300,988	4,879,159	2,073,238
2025-10-07	$68.98	$60.00	41.5%	12.7%	35.0%	27.1%	49.1%	-1.2%	1.3%	480.1M	-12.88B	-55.5M	0.49	2.66	669,754	331,553	5,083,466	2,200,534
2025-10-08	$70.12	$61.00	42.3%	13.0%	34.9%	29.4%	50.0%	-2.4%	1.1%	544.6M	-14.47B	-57.3M	0.15	3.07	844,617	124,335	5,223,771	2,331,812
2025-10-09	$68.69	$61.00	41.9%	12.8%	35.9%	28.3%	49.9%	-0.4%	1.8%	454.9M	-12.22B	-56.9M	0.26	2.91	576,453	148,873	5,376,255	2,383,005
2025-10-10	$66.38	$61.00	43.9%	13.2%	37.6%	34.1%	48.1%	3.7%	1.2%	199.2M	-8.75B	-54.0M	0.35	2.59	861,961	297,831	5,371,735	2,410,832
2025-10-13	$65.70	$62.00	44.2%	13.0%	37.5%	35.3%	48.2%	1.6%	1.0%	227.0M	-8.13B	-52.9M	0.37	2.37	691,858	255,999	5,123,753	2,166,229
2025-10-14	$63.75	$61.00	47.1%	13.6%	38.7%	44.2%	50.2%	2.8%	0.3%	171.8M	-6.21B	-52.4M	0.36	2.63	613,060	218,001	5,313,386	2,225,643
2025-10-15	$63.16	$60.00	46.6%	13.5%	38.7%	42.7%	51.4%	4.6%	0.6%	150.1M	-5.67B	-51.5M	0.28	2.31	822,871	233,971	5,377,309	2,242,850
2025-10-16	$61.31	$60.00	49.1%	14.2%	39.4%	50.1%	50.5%	7.8%	0.2%	79.1M	-3.89B	-50.6M	0.53	2.32	777,019	412,139	5,434,696	2,290,933
2025-10-17	$60.44	$61.00	51.3%	14.7%	39.2%	56.9%	53.3%	7.2%	0.3%	30.1M	-3.25B	-50.5M	0.40	2.62	810,486	321,582	5,563,614	2,343,351
2025-10-20	$63.00	$61.00	46.3%	13.3%	41.3%	41.6%	49.8%	1.0%	0.2%	203.6M	-6.76B	-55.1M	0.40	2.17	479,984	191,497	4,990,727	1,997,422
2025-10-21	$63.53	$61.00	46.3%	13.3%	41.4%	41.6%	48.4%	0.7%	0.5%	233.0M	-7.56B	-57.1M	0.45	2.23	746,813	334,073	5,153,938	2,049,523
2025-10-22	$61.25	$61.00	49.2%	14.1%	43.0%	50.5%	52.9%	3.9%	-0.2%	155.6M	-5.30B	-55.9M	0.45	2.46	453,641	203,154	5,333,121	2,167,300
2025-10-23	$62.70	$61.00	47.1%	13.5%	42.1%	44.0%	49.0%	2.6%	0.1%	208.8M	-6.74B	-57.5M	0.37	2.19	352,703	130,782	5,386,579	2,239,070
2025-10-24	$62.88	$61.00	44.4%	12.7%	42.1%	35.7%	46.6%	1.1%	0.2%	258.7M	-6.99B	-57.0M	0.32	2.52	517,349	165,677	5,455,783	2,236,388
2025-10-27	$65.28	$61.00	42.4%	12.0%	40.8%	29.5%	45.1%	1.2%	1.2%	297.2M	-9.38B	-58.0M	0.48	2.34	492,294	234,561	5,222,301	2,125,661
2025-10-28	$64.66	$61.00	42.0%	12.1%	40.9%	28.6%	43.4%	2.5%	1.1%	276.2M	-8.56B	-57.5M	0.29	2.84	512,222	149,347	5,319,776	2,196,316
2025-10-29	$62.70	$61.00	42.9%	12.3%	40.7%	31.0%	45.2%	3.5%	1.1%	193.6M	-6.35B	-55.6M	0.34	3.30	531,513	182,984	5,518,960	2,218,527
2025-10-30	$60.50	$61.00	45.3%	13.0%	40.7%	38.6%	47.9%	3.4%	0.7%	102.2M	-4.13B	-53.2M	0.34	3.35	603,774	207,873	5,594,540	2,252,242
2025-10-31	$62.38	$61.00	42.8%	12.3%	42.0%	31.0%	46.9%	3.5%	0.6%	186.9M	-6.18B	-54.6M	0.30	2.83	600,504	182,628	5,661,861	2,277,313