PWB Options History — October 2025

In October 2025, PWB traded between $124.75 and $131.09. ATM implied volatility averaged 19.2%, placing in the 16.5% IV rank vs the trailing year. The 30-day expected move averaged 5.5%. IV traded above realized volatility by 5.5% (HV 20d: 13.7%). Max pain ranged from $118.00 to $130.00. Net GEX was positive for 23 of 23 trading days. Term structure was in contango for 17 of 23 days. Put/call ratio averaged 0.00.

Notable Days

  • 2025-10-29: Highest Volume — 95 contracts
  • 2025-10-10: Largest IV spike — 24.1% change
  • 2025-10-14: Highest IV Rank — 30.6%
  • 2025-10-16: Largest Expected Move — 6.8%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$127.65$124.75$131.09$125.75$130.84
Max Pain$122.80$118.00$130.00$118.00$130.00
ATM IV19.2%14.6%25.7%14.7%20.1%
Expected Move5.5%4.2%6.8%4.2%5.8%
HV 20d13.7%8.6%17.4%9.6%17.4%
HV 60d12.4%11.1%13.8%11.2%12.7%
IV Rank16.5%6.5%30.6%6.9%18.6%
IV Percentile64.4%21.0%94.0%23.4%73.8%
Term Structure1.1%-1.9%6.4%2.7%1.3%
VWIV19.6%19.6%19.6%19.6%19.6%
Skew 25d4.5%-0.4%10.3%-0.4%4.3%
Skew 10d4.1%-0.1%11.2%1.8%2.4%
Call IV 25d16.4%12.3%20.2%15.3%14.6%
Put IV 25d20.9%14.9%28.6%14.9%18.9%
Bid-Ask Spread %95.2868.55117.86116.05105.74
Gamma HHI0.340.280.510.330.51
Net GEX44.7K33.9K66.7K43.5K65.5K
Net DEX-941.7K-1.2M-789.5K-789.5K-1.2M
Net VEX-2.5K-2.9K-1.9K-2.1K-2.8K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.000.000.020.020.00
Total Volume8.69609500
Total OI112.0439413594135

Daily Data (23 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2025-10-01$125.75$118.0014.7%4.2%9.6%6.9%0.0%-0.4%2.7%43.5K-789.5K-2.1K0.00116.05N/AN/A00940
2025-10-02$126.20$118.0015.9%4.6%8.9%9.4%0.0%0.8%3.5%40.6K-805.2K-2.0K0.00116.70N/AN/A00940
2025-10-03$125.84$118.0015.7%4.5%8.9%9.0%0.0%-0.2%1.9%41.0K-798.7K-2.1K0.00117.86N/AN/A00940
2025-10-06$127.03$0.0016.4%5.4%8.6%10.5%0.0%4.2%0.8%36.2K-839.9K-2.0K0.0089.89N/AN/A00940
2025-10-07$126.55$0.0014.6%5.3%8.7%6.5%0.0%4.4%1.7%36.5K-820.6K-2.0K0.0082.09N/AN/A00940
2025-10-08$128.44$0.0015.8%5.2%9.8%9.1%0.0%2.6%0.6%33.9K-880.5K-1.9K0.0291.87N/AN/A411940
2025-10-09$127.92$0.0018.0%5.4%10.0%13.9%0.0%3.9%1.4%41.6K-996.0K-2.6K0.0092.34N/AN/A201141
2025-10-10$124.75$0.0022.3%6.2%13.8%23.3%0.0%8.1%-0.2%47.8K-869.8K-2.8K0.0075.85N/AN/A4001161
2025-10-13$126.25$0.0022.3%6.1%14.3%23.2%0.0%7.5%-0.7%46.4K-926.0K-2.6K0.0081.95N/AN/A001161
2025-10-14$125.69$0.0025.7%6.2%14.4%30.6%0.0%5.9%-1.9%46.5K-910.7K-2.6K0.0076.28N/AN/A1001161
2025-10-15$127.04$0.0022.3%6.4%14.8%23.2%0.0%5.7%-0.3%47.1K-1.0M-2.9K0.0070.30N/AN/A001261
2025-10-16$125.87$0.0023.8%6.8%14.7%26.4%0.0%7.8%-0.5%45.9K-984.9K-2.9K0.0068.55N/AN/A001261
2025-10-17$126.41$0.0022.2%6.4%14.7%23.1%0.0%10.3%-0.1%44.8K-997.9K-2.9K0.0071.99N/AN/A001261
2025-10-20$127.68$0.0020.5%5.9%15.0%19.3%0.0%5.9%1.3%42.6K-903.9K-2.8K0.0093.29N/AN/A001111
2025-10-21$127.68$0.0019.4%5.6%14.8%16.9%0.0%4.7%1.6%43.8K-901.8K-2.8K0.0099.97N/AN/A001111
2025-10-22$125.91$0.0020.2%5.8%15.6%18.8%0.0%6.8%0.3%44.9K-828.1K-2.8K0.00102.51N/AN/A1001111
2025-10-23$127.82$0.0019.2%5.5%16.1%16.5%0.0%3.9%3.0%45.5K-900.2K-2.8K0.0092.13N/AN/A001111
2025-10-24$129.36$0.0018.6%5.3%16.5%15.3%0.0%2.3%0.2%43.6K-979.6K-2.7K0.00109.18N/AN/A011111
2025-10-27$131.09$0.0017.8%5.1%16.8%13.6%0.0%4.0%1.1%42.1K-1.0M-2.5K0.00115.08N/AN/A001111
2025-10-28$130.97$0.0019.0%5.4%16.8%16.1%0.0%2.6%0.7%41.6K-1.0M-2.5K0.00115.45N/AN/A001111
2025-10-29$131.09$0.0020.2%5.8%16.8%18.8%19.6%5.9%0.4%41.1K-1.0M-2.5K0.0099.30N/AN/A9501111
2025-10-30$129.79$130.0016.5%4.7%17.3%10.7%0.0%3.7%6.4%66.7K-1.2M-2.8K0.00107.09N/AN/A001341
2025-10-31$130.84$130.0020.1%5.8%17.4%18.6%0.0%4.3%1.3%65.5K-1.2M-2.8K0.00105.74N/AN/A001341