PBP Options History — January 2025

In January 2025, PBP traded between $23.49 and $23.90. ATM implied volatility averaged 29.4%, placing in the 15.8% IV rank vs the trailing year. The 30-day expected move averaged 6.1%. IV traded above realized volatility by 21.2% (HV 20d: 8.2%). Max pain ranged from $23.00 to $24.00. Net GEX was positive for 19 of 20 trading days. Term structure was in contango for 5 of 20 days. Put/call ratio averaged 0.00.

Notable Days

2025-01-27: Highest Volume — 3 contracts
2025-01-15: Largest IV drop — 72.9% change
2025-01-14: Highest IV Rank — 56.5%
2025-01-03: Largest Expected Move — 10.2%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$23.73	$23.49	$23.90	$23.49	$23.82
Max Pain	$23.67	$23.00	$24.00	$23.00	$24.00
ATM IV	29.4%	6.7%	82.0%	26.4%	7.0%
Expected Move	6.1%	1.9%	10.2%	7.6%	2.0%
HV 20d	8.2%	7.1%	9.5%	7.1%	7.6%
HV 60d	7.4%	7.0%	7.8%	7.0%	7.3%
IV Rank	15.8%	0.0%	56.5%	12.8%	0.2%
IV Percentile	33.9%	0.0%	98.4%	21.8%	0.8%
Term Structure	0.2%	-12.3%	15.9%	-12.3%	15.9%
VWIV	43.3%	5.2%	81.5%	81.5%	5.2%
Skew 25d	1.7%	-7.3%	7.4%	-1.4%	5.4%
Skew 10d	4.3%	-0.3%	16.1%	5.8%	3.4%
Call IV 25d	21.8%	13.6%	38.1%	30.3%	19.7%
Put IV 25d	23.4%	16.6%	38.4%	28.9%	25.0%
Bid-Ask Spread %	157.71	152.38	170.77	155.06	154.10
Gamma HHI	0.46	0.29	0.68	0.38	0.41
Net GEX	488	-2	1.2K	123	82
Net DEX	-12.6K	-15.7K	-8.7K	-8.7K	-10.6K
Net VEX	-58	-84	-39	-84	-49
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.00	0.00	0.00	0.00	0.00
Total Volume	0.25	0	3	0	0
Total OI	19.8	18	21	19	21

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	Spread %	Call Wall	Put Wall	Call Vol	Put Vol	Call OI	Put OI
2025-01-02	$23.49	$23.00	26.4%	7.6%	7.1%	12.8%	0.0%	-1.4%	-12.3%	123	-8.7K	-84	155.06	N/A	N/A	0	0	9	10
2025-01-03	$23.67	$23.00	35.4%	10.2%	7.5%	19.9%	81.5%	-7.3%	-10.7%	147	-9.6K	-83	156.55	N/A	N/A	1	0	9	10
2025-01-06	$23.74	$0.00	40.0%	6.3%	7.5%	23.4%	0.0%	2.0%	-1.7%	166	-12.2K	-81	159.07	N/A	N/A	0	0	10	10
2025-01-07	$23.62	$0.00	60.3%	8.9%	7.8%	39.4%	0.0%	0.3%	-3.6%	583	-14.4K	-50	170.77	N/A	N/A	0	0	10	10
2025-01-08	$23.66	$0.00	44.2%	6.6%	7.8%	26.7%	0.0%	0.7%	-1.9%	145	-11.7K	-82	158.28	N/A	N/A	0	0	10	10
2025-01-10	$23.50	$0.00	38.7%	7.5%	8.3%	22.5%	0.0%	1.5%	-2.7%	126	-11.1K	-81	158.48	N/A	N/A	0	0	10	10
2025-01-13	$23.50	$0.00	52.5%	7.9%	8.3%	33.3%	0.0%	3.2%	-3.8%	140	-11.1K	-82	157.43	N/A	N/A	0	1	10	10
2025-01-14	$23.52	$0.00	82.0%	7.2%	8.3%	56.5%	0.0%	2.4%	-2.8%	-2	-9.8K	-81	158.49	N/A	N/A	0	0	10	11
2025-01-15	$23.84	$0.00	22.2%	6.4%	9.5%	9.5%	0.0%	2.0%	-2.5%	866	-15.1K	-44	158.46	N/A	N/A	0	0	10	11
2025-01-16	$23.89	$0.00	22.9%	6.6%	9.5%	10.1%	0.0%	0.9%	-2.8%	973	-15.7K	-41	158.51	N/A	N/A	0	0	10	11
2025-01-17	$23.90	$0.00	22.8%	6.5%	9.5%	10.0%	0.0%	0.4%	-3.6%	102	-15.7K	-39	158.15	N/A	N/A	0	0	10	11
2025-01-21	$23.80	$0.00	24.3%	7.0%	9.3%	11.1%	0.0%	1.0%	-2.7%	1.1K	-14.7K	-43	157.92	N/A	N/A	0	0	9	9
2025-01-22	$23.84	$0.00	23.7%	6.8%	9.2%	10.7%	0.0%	1.1%	-3.0%	1.2K	-15.0K	-42	158.38	N/A	N/A	0	0	9	9
2025-01-23	$23.85	$0.00	24.1%	6.9%	7.6%	11.0%	0.0%	1.7%	-3.2%	953	-14.7K	-43	158.23	N/A	N/A	0	0	9	9
2025-01-24	$23.87	$0.00	24.6%	7.0%	7.3%	11.3%	0.0%	4.2%	-3.7%	1.0K	-14.8K	-43	157.13	N/A	N/A	0	0	9	9
2025-01-27	$23.70	$0.00	6.7%	1.9%	7.7%	0.0%	5.2%	7.4%	13.7%	1.0K	-13.9K	-44	152.38	N/A	N/A	0	3	9	9
2025-01-28	$23.84	$24.00	10.7%	3.1%	7.9%	3.1%	0.0%	3.9%	12.0%	401	-11.0K	-49	155.38	N/A	N/A	0	0	9	12
2025-01-29	$23.80	$24.00	12.4%	3.6%	7.7%	4.4%	0.0%	1.2%	8.7%	472	-10.9K	-49	156.34	N/A	N/A	0	0	9	12
2025-01-30	$23.82	$24.00	6.8%	1.9%	7.7%	0.1%	0.0%	3.0%	15.2%	149	-10.9K	-48	155.05	N/A	N/A	0	0	9	12
2025-01-31	$23.82	$24.00	7.0%	2.0%	7.6%	0.2%	0.0%	5.4%	15.9%	82	-10.6K	-49	154.10	N/A	N/A	0	0	9	12