PBP Options History — December 2025

In December 2025, PBP traded between $22.77 and $23.05. ATM implied volatility averaged 31.9%, placing in the 23.4% IV rank vs the trailing year. The 30-day expected move averaged 8.5%. IV traded above realized volatility by 26.0% (HV 20d: 5.9%). Max pain ranged from $20.00 to $20.72. Net GEX was positive for 6 of 22 trading days. Term structure was in contango for 0 of 22 days. Put/call ratio averaged 0.00.

Notable Days

  • 2025-12-22: Highest Volume — 16 contracts
  • 2025-12-10: Largest IV drop — 33.2% change
  • 2025-12-09: Highest IV Rank — 32.1%
  • 2025-12-31: Largest Expected Move — 10.0%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$22.89$22.77$23.05$22.84$22.81
Max Pain$20.48$20.00$20.72$20.00$20.72
ATM IV31.9%26.9%41.2%31.4%34.8%
Expected Move8.5%7.4%10.0%9.0%10.0%
HV 20d5.9%5.1%6.5%6.5%5.3%
HV 60d6.3%6.0%6.6%6.3%6.6%
IV Rank23.4%18.9%32.1%23.0%26.2%
IV Percentile61.0%32.5%86.5%63.5%73.8%
Term Structure-5.5%-9.5%-2.2%-7.6%-9.5%
VWIV46.0%46.0%46.0%46.0%46.0%
Skew 25d2.9%-12.5%9.8%1.9%2.7%
Skew 10d3.7%-11.8%17.4%4.1%2.9%
Call IV 25d26.0%20.4%38.3%38.2%26.6%
Put IV 25d29.0%9.1%42.3%40.1%29.2%
Bid-Ask Spread %154.57141.64158.55150.58153.78
Gamma HHI1.001.001.001.001.00
Net GEX-25-264424-264407
Net DEX-3.9K-16.6K1.2K1.1K-16.4K
Net VEX-4-100-5-7
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.000.000.000.000.00
Total Volume0.72701600
Total OI8.3180998

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2025-12-01$22.84$20.0031.4%9.0%6.5%23.0%0.0%1.9%-7.6%-2641.1K-50.00150.58N/AN/A0009
2025-12-02$22.85$20.0032.3%9.2%6.5%23.8%0.0%1.4%-8.2%-237915-40.00151.51N/AN/A0009
2025-12-03$22.88$20.0033.2%9.5%6.5%24.7%0.0%4.1%-8.8%-2531.1K-50.00151.64N/AN/A0009
2025-12-04$22.88$0.0035.0%7.6%6.5%26.3%0.0%3.9%-2.8%-239939-40.00157.81N/AN/A0009
2025-12-05$22.90$0.0036.2%7.4%6.3%27.5%0.0%1.6%-2.2%-2641.2K-40.00158.55N/AN/A0009
2025-12-08$22.90$0.0040.1%7.7%6.2%31.1%0.0%1.1%-2.8%-2531.1K-40.00156.72N/AN/A0009
2025-12-09$22.87$0.0041.2%7.8%6.1%32.1%0.0%1.5%-3.7%-2581.1K-40.00156.56N/AN/A0009
2025-12-10$22.96$0.0027.5%7.9%6.2%19.4%0.0%3.2%-3.6%-210766-30.00156.39N/AN/A0009
2025-12-11$22.94$0.0027.5%7.9%6.2%19.3%0.0%4.5%-4.0%-216797-20.00156.81N/AN/A0009
2025-12-12$22.94$0.0026.9%7.7%6.1%18.9%0.0%3.9%-3.9%-202705-20.00156.35N/AN/A0009
2025-12-15$22.96$0.0027.7%7.9%6.1%19.6%0.0%4.2%-3.8%-198685-20.00156.09N/AN/A0009
2025-12-16$22.96$0.0028.6%8.2%5.9%20.4%0.0%5.2%-4.1%-182593-10.00155.90N/AN/A0009
2025-12-17$22.95$0.0028.6%8.2%5.9%20.4%0.0%5.2%-4.5%-213000.00155.42N/AN/A0009
2025-12-18$22.95$0.0029.1%8.3%5.9%20.8%0.0%4.4%-4.1%-187613-10.00155.42N/AN/A0009
2025-12-19$23.05$0.0029.1%8.3%5.3%20.8%0.0%2.4%-4.1%0000.00154.40N/AN/A0009
2025-12-22$22.77$0.0030.0%8.6%5.4%21.7%46.0%-12.5%-5.6%0000.00141.64N/AN/A16000
2025-12-23$22.80$20.7230.6%8.8%5.3%22.2%0.0%7.7%-5.8%424-16.0K-100.00155.21N/AN/A0080
2025-12-24$22.84$20.7230.6%8.8%5.2%22.2%0.0%2.8%-6.1%409-16.3K-90.00155.02N/AN/A0080
2025-12-26$22.88$20.7232.0%9.2%5.1%23.6%0.0%2.0%-7.4%399-16.4K-80.00155.74N/AN/A0080
2025-12-29$22.86$20.7234.6%9.9%5.1%26.0%0.0%9.8%-8.9%411-16.2K-80.00155.14N/AN/A0080
2025-12-30$22.89$20.7234.3%9.8%5.1%25.7%0.0%3.9%-9.4%388-16.6K-70.00153.85N/AN/A0080
2025-12-31$22.81$20.7234.8%10.0%5.3%26.2%0.0%2.7%-9.5%407-16.4K-70.00153.78N/AN/A0080