PBP Options History — March 2025

In March 2025, PBP traded between $21.88 and $23.14. ATM implied volatility averaged 31.9%, placing in the 19.3% IV rank vs the trailing year. The 30-day expected move averaged 8.9%. IV traded above realized volatility by 16.4% (HV 20d: 15.5%). Max pain ranged from $20.00 to $26.00. Net GEX was positive for 20 of 21 trading days. Term structure was in contango for 0 of 21 days.

Notable Days

  • 2025-03-11: Largest IV drop — 40.1% change
  • 2025-03-10: Highest IV Rank — 30.3%
  • 2025-03-14: Largest Expected Move — 15.2%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$22.45$21.88$23.14$23.02$22.21
Max Pain$24.62$20.00$26.00$26.00$20.00
ATM IV31.9%27.2%46.3%33.8%34.7%
Expected Move8.9%3.8%15.2%9.7%7.2%
HV 20d15.5%9.5%19.7%9.5%19.7%
HV 60d11.1%8.1%13.3%8.1%13.3%
IV Rank19.3%15.7%30.3%20.7%21.4%
IV Percentile58.7%34.1%87.3%67.5%71.8%
Term Structure-10.5%-18.6%-5.4%-8.9%-6.9%
Skew 25d3.0%-0.3%10.9%-0.2%6.0%
Skew 10d2.0%-0.1%10.1%1.1%2.3%
Call IV 25d24.6%18.7%32.5%25.2%25.8%
Put IV 25d27.6%22.4%34.4%25.0%31.8%
Bid-Ask Spread %152.77150.31156.76152.06153.63
Gamma HHI0.410.350.560.550.36
Net GEX511-411.5K1.0K406
Net DEX-4.4K-9.6K1.7K-6.8K-7.6K
Net VEX-51-68-36-43-51
Div Yield0.0%0.0%0.0%0.0%0.0%
Total Volume00000
Total OI21.14319222219

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2025-03-03$23.02$26.0033.8%9.7%9.5%20.7%0.0%-0.2%-8.9%1.0K-6.8K-430.00152.06N/AN/A001012
2025-03-04$22.99$26.0032.9%9.4%9.5%20.1%0.0%0.9%-9.3%1.2K-6.6K-420.00151.35N/AN/A001012
2025-03-05$23.14$26.0035.0%10.0%9.7%21.7%0.0%1.7%-14.3%1.5K-7.5K-360.00150.31N/AN/A001012
2025-03-06$22.68$26.0035.8%10.3%11.6%22.3%0.0%4.0%-13.3%173-2.3K-680.00150.92N/AN/A001012
2025-03-07$22.80$26.0036.3%10.4%11.9%22.7%0.0%1.8%-16.0%380-5.4K-430.00151.63N/AN/A001012
2025-03-10$22.29$26.0046.3%13.3%13.9%30.3%0.0%6.6%-5.8%46-184-660.00151.34N/AN/A001012
2025-03-11$22.20$26.0027.7%13.5%13.6%16.1%0.0%1.8%-13.0%9564-680.00151.94N/AN/A001012
2025-03-12$22.21$26.0027.6%13.4%13.6%16.0%0.0%1.6%-12.1%86-11-640.00151.44N/AN/A001012
2025-03-13$21.88$26.0028.2%14.1%14.1%16.5%0.0%3.9%-10.6%-411.7K-630.00150.79N/AN/A001012
2025-03-14$22.30$26.0028.3%15.2%16.2%16.6%0.0%0.4%-12.1%124-219-630.00150.74N/AN/A001012
2025-03-17$22.58$20.0027.2%3.8%17.1%15.7%0.0%1.3%-18.6%804-4.3K-380.00156.68N/AN/A001012
2025-03-18$22.25$20.0029.2%5.1%17.6%17.2%0.0%0.1%-13.9%152136-590.00154.55N/AN/A001012
2025-03-19$22.59$20.0027.6%4.0%18.8%16.0%0.0%1.2%-17.3%628-4.2K-380.00156.76N/AN/A001012
2025-03-20$22.48$0.0029.9%6.8%18.7%17.8%0.0%1.8%-5.4%1.0K-3.6K-370.00154.00N/AN/A001012
2025-03-21$22.38$0.0030.1%6.6%18.5%17.9%0.0%2.6%-5.5%670-3.0K-360.00153.09N/AN/A001012
2025-03-24$22.50$0.0030.9%6.8%18.5%18.5%0.0%10.9%-7.0%613-9.6K-490.00152.97N/AN/A00109
2025-03-25$22.43$0.0031.7%6.9%18.5%19.2%0.0%8.5%-7.0%578-9.0K-500.00154.33N/AN/A00109
2025-03-26$22.35$0.0031.5%6.8%18.4%19.0%0.0%3.2%-6.3%521-8.6K-500.00152.88N/AN/A00109
2025-03-27$22.37$0.0032.8%6.9%18.0%20.0%0.0%5.0%-7.5%507-8.8K-500.00152.90N/AN/A00109
2025-03-28$21.88$0.0032.9%7.0%19.1%20.1%0.0%-0.3%-10.4%233-5.6K-560.00153.81N/AN/A00109
2025-03-31$22.21$0.0034.7%7.2%19.7%21.4%0.0%6.0%-6.9%406-7.6K-510.00153.63N/AN/A00109