IBIT Options History — November 2025

In November 2025, IBIT traded between $47.86 and $60.53. ATM implied volatility averaged 49.5%, placing in the 51.8% IV rank vs the trailing year. The 30-day expected move averaged 14.3%. IV traded above realized volatility by 1.7% (HV 20d: 47.9%). Max pain ranged from $55.00 to $61.00. Net GEX was positive for 14 of 19 trading days. Term structure was in contango for 13 of 19 days. Put/call ratio averaged 0.49.

Notable Days

  • 2025-11-21: Highest Volume — 2,007,760 contracts
  • 2025-11-04: Largest IV spike — 13.8% change
  • 2025-11-21: Highest IV Rank — 79.8%
  • 2025-11-21: Largest Expected Move — 17.0%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$54.35$47.86$60.53$60.53$51.38
Max Pain$59.21$55.00$61.00$61.00$57.00
ATM IV49.5%44.3%58.7%45.0%46.2%
Expected Move14.3%12.8%17.0%12.8%13.3%
HV 20d47.9%41.6%51.8%41.6%51.3%
HV 60d40.2%37.4%42.4%37.4%42.3%
IV Rank51.8%35.5%79.8%37.6%43.1%
IV Percentile63.4%46.1%87.6%50.0%51.6%
Term Structure0.3%-1.5%1.5%0.8%-0.1%
VWIV51.1%46.6%60.5%47.9%48.1%
Skew 25d6.2%4.3%9.3%4.7%4.8%
Skew 10d12.2%7.5%17.8%8.8%9.1%
Call IV 25d47.9%43.4%56.0%44.8%44.7%
Put IV 25d54.0%48.5%65.4%49.5%49.4%
Bid-Ask Spread %2.562.163.372.232.27
Gamma HHI0.050.040.060.050.06
Net GEX70.5M-14.7M173.5M139.4M167.1M
Net DEX-649.8M-4.61B2.84B-4.27B-1.57B
Net VEX-44.5M-52.7M-37.4M-51.8M-43.7M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.490.280.710.310.45
Total Volume1,040,418.684392,3902,007,760748,588684,419
Total OI8,071,669.3167,338,8408,756,8957,338,8408,126,600

Daily Data (19 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2025-11-03$60.53$61.0045.0%12.8%41.6%37.6%47.9%4.7%0.8%139.4M-4.27B-51.8M0.312.23573,314175,2745,198,3122,140,528
2025-11-04$57.22$61.0051.2%15.0%44.2%56.8%54.8%6.2%0.1%71.3M-1.56B-47.0M0.422.531,399,359592,8205,257,9752,212,398
2025-11-05$58.97$61.0047.0%13.3%45.5%43.8%48.6%5.5%1.0%127.3M-3.12B-51.1M0.282.69646,064180,0805,573,1752,403,392
2025-11-06$57.17$60.0048.2%14.1%46.0%47.6%49.2%6.3%1.0%67.9M-1.30B-47.5M0.412.69568,889231,0775,675,8662,428,219
2025-11-07$58.95$60.0045.8%13.6%47.1%40.1%47.3%6.0%1.1%138.7M-3.09B-49.1M0.653.37604,051393,2345,803,2132,436,276
2025-11-10$60.33$60.0044.3%13.2%48.1%35.5%46.6%4.3%1.5%173.5M-4.61B-52.7M0.562.71445,224250,7125,479,3062,431,497
2025-11-11$58.36$60.0045.4%13.4%48.4%39.0%47.9%5.3%1.3%101.1M-2.33B-49.4M0.512.35259,991132,3995,519,4662,491,110
2025-11-12$57.64$60.0045.8%13.3%48.4%39.9%47.2%4.8%0.4%79.1M-1.70B-48.1M0.412.16381,588155,3025,557,6002,524,056
2025-11-13$55.75$60.0047.6%13.8%48.7%45.6%49.4%5.9%0.5%27.6M-11.2M-44.4M0.712.18685,804483,8035,600,0392,558,699
2025-11-14$53.45$60.0050.8%14.6%50.4%55.5%50.9%6.4%0.4%-294.3K1.82B-41.0M0.452.561,019,256459,0025,704,1592,664,377
2025-11-17$51.93$60.0052.1%14.9%47.7%59.6%53.1%8.1%-0.4%-6.4M2.19B-38.3M0.502.66733,399365,3355,576,2892,579,409
2025-11-18$52.64$60.0051.4%14.7%48.0%57.4%52.0%6.2%-0.6%5.9M1.37B-40.9M0.542.52506,203275,8325,645,7672,662,679
2025-11-19$50.50$60.0054.4%15.6%48.4%66.6%55.2%6.8%-0.8%-6.2M2.34B-38.7M0.682.47689,391467,4785,767,3852,688,622
2025-11-20$49.05$60.0055.1%15.8%47.2%68.6%55.9%7.8%-0.7%-14.7M2.84B-37.5M0.612.27979,616597,5565,927,4812,758,436
2025-11-21$47.86$60.0058.7%17.0%47.0%79.8%60.5%9.3%-1.5%-3.7M2.61B-37.4M0.483.141,359,056648,7046,060,3602,696,535
2025-11-24$50.53$55.0051.0%14.7%49.8%56.2%52.2%6.7%0.2%81.3M-560.3M-41.7M0.382.80717,882271,4785,111,9252,488,976
2025-11-25$49.41$55.0051.9%14.9%49.9%58.8%54.3%7.0%0.4%65.3M54.1M-41.0M0.592.31409,089240,5335,182,8562,530,890
2025-11-26$50.95$55.0049.1%14.3%51.8%52.5%50.0%4.8%0.1%125.5M-1.45B-43.8M0.472.66803,582381,1595,288,2272,609,617
2025-11-28$51.38$57.0046.2%13.3%51.3%43.1%48.1%4.8%-0.1%167.1M-1.57B-43.7M0.452.27473,177211,2425,406,6662,719,934