BAC Options History — January 2025

In January 2025, BAC traded between $44.31 and $47.33. ATM implied volatility averaged 24.0%, placing in the 32.8% IV rank vs the trailing year. The 30-day expected move averaged 6.9%. IV traded above realized volatility by 2.7% (HV 20d: 21.3%). Max pain ranged from $39.00 to $45.00. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 7 of 20 days. Put/call ratio averaged 0.72.

Notable Days

2025-01-16: Highest Volume — 345,760 contracts
2025-01-16: Largest IV drop — 18.2% change
2025-01-13: Highest IV Rank — 62.4%
2025-01-02: Largest Expected Move — 9.1%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$46.10	$44.31	$47.33	$44.31	$46.25
Max Pain	$43.70	$39.00	$45.00	$39.00	$45.00
ATM IV	24.0%	20.3%	29.0%	27.8%	22.9%
Expected Move	6.9%	5.8%	9.1%	9.1%	6.6%
HV 20d	21.3%	19.7%	25.1%	19.7%	20.5%
HV 60d	25.7%	24.5%	26.8%	26.6%	25.5%
IV Rank	32.8%	10.8%	62.4%	54.9%	26.3%
IV Percentile	50.3%	9.5%	94.4%	90.5%	41.7%
Term Structure	-0.2%	-1.2%	1.1%	-0.9%	0.7%
VWIV	24.3%	20.2%	33.1%	33.1%	22.6%
Skew 25d	2.4%	1.2%	3.3%	3.3%	2.6%
Skew 10d	5.6%	3.3%	8.0%	6.2%	5.8%
Call IV 25d	23.0%	19.6%	27.7%	26.2%	21.5%
Put IV 25d	25.4%	21.6%	31.1%	29.5%	24.0%
Bid-Ask Spread %	2.57	2.03	4.72	2.86	2.44
Gamma HHI	0.12	0.08	0.16	0.08	0.12
Net GEX	70.0M	39.2M	105.2M	39.2M	45.0M
Net DEX	-2.27B	-3.67B	-1.46B	-2.00B	-1.46B
Net VEX	-14.8M	-15.7M	-14.2M	-15.0M	-15.7M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.72	0.28	1.26	0.79	0.75
Total Volume	153,437.3	77,883	345,760	83,440	127,287
Total OI	2,838,830.6	2,237,957	3,485,733	3,104,144	2,437,162

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	P/C	Spread %	Call Vol	Put Vol	Call OI	Put OI
2025-01-02	$44.31	$39.00	27.8%	9.1%	19.7%	54.9%	33.1%	3.3%	-0.9%	39.2M	-2.00B	-15.0M	0.79	2.86	46,592	36,848	1,291,510	1,812,634
2025-01-03	$44.77	$39.00	26.1%	8.6%	20.2%	45.2%	31.1%	2.9%	-0.6%	48.1M	-2.22B	-15.2M	0.50	2.43	78,404	38,827	1,311,341	1,829,171
2025-01-06	$45.38	$43.00	27.2%	7.4%	20.2%	51.6%	26.2%	2.7%	-0.3%	62.3M	-2.53B	-14.7M	0.51	2.79	79,697	40,356	1,299,991	1,791,600
2025-01-07	$46.00	$43.00	27.1%	7.4%	20.6%	50.7%	26.4%	2.4%	-0.7%	75.1M	-2.91B	-14.3M	1.16	2.19	72,812	84,284	1,316,576	1,805,272
2025-01-08	$46.14	$43.00	27.6%	7.6%	20.2%	53.9%	28.0%	2.6%	-0.4%	77.0M	-2.90B	-14.9M	0.83	2.03	81,254	67,425	1,333,035	1,857,916
2025-01-10	$45.11	$44.00	29.0%	7.9%	21.7%	62.2%	28.6%	3.3%	-1.1%	47.1M	-2.31B	-15.0M	1.26	2.59	84,175	105,961	1,358,986	1,879,608
2025-01-13	$45.13	$43.00	29.0%	7.9%	21.7%	62.4%	27.9%	3.3%	-1.2%	45.8M	-2.33B	-14.8M	1.13	2.38	75,156	85,269	1,333,493	1,826,222
2025-01-14	$45.78	$44.00	28.5%	7.8%	22.1%	59.1%	26.9%	2.9%	-1.0%	56.3M	-2.67B	-14.8M	0.28	2.50	122,513	34,248	1,359,467	1,881,933
2025-01-15	$47.33	$44.00	25.6%	7.1%	24.2%	41.8%	24.6%	2.1%	-0.5%	105.2M	-3.67B	-14.2M	0.49	2.39	190,076	92,424	1,437,714	1,896,122
2025-01-16	$46.55	$44.00	20.9%	5.9%	25.1%	14.5%	21.1%	1.2%	-0.4%	97.9M	-3.11B	-14.7M	0.58	2.54	219,353	126,407	1,473,415	1,932,256
2025-01-17	$46.61	$44.00	21.0%	6.0%	24.7%	14.8%	21.8%	1.6%	-0.3%	84.5M	-3.20B	-14.4M	0.57	2.30	122,931	69,758	1,522,211	1,963,522
2025-01-21	$46.69	$44.00	20.4%	5.9%	20.5%	11.7%	20.5%	2.1%	-0.3%	76.2M	-1.82B	-14.7M	0.94	2.87	77,813	72,897	1,047,830	1,190,127
2025-01-22	$45.89	$45.00	20.3%	5.8%	21.8%	10.8%	20.6%	2.0%	0.1%	51.2M	-1.46B	-14.4M	0.45	2.61	113,044	50,976	1,071,334	1,227,429
2025-01-23	$46.38	$45.00	20.5%	5.9%	21.3%	12.3%	20.8%	2.2%	0.5%	82.4M	-1.68B	-15.1M	0.66	2.24	82,984	54,854	1,113,516	1,247,963
2025-01-24	$46.50	$45.00	20.4%	5.8%	20.6%	11.6%	20.2%	1.9%	0.7%	98.6M	-1.78B	-14.7M	0.70	2.28	71,881	50,140	1,129,115	1,277,427
2025-01-27	$47.00	$45.00	21.4%	6.1%	20.4%	17.2%	21.8%	2.9%	1.1%	84.4M	-1.94B	-14.8M	0.84	2.25	53,815	45,009	1,089,626	1,254,976
2025-01-28	$46.95	$45.00	20.8%	6.0%	20.5%	14.1%	21.1%	2.1%	0.6%	85.4M	-1.89B	-15.0M	0.68	2.45	46,239	31,644	1,105,003	1,274,826
2025-01-29	$46.69	$45.00	21.3%	6.2%	20.3%	16.9%	21.8%	1.8%	0.7%	74.4M	-1.78B	-14.7M	0.77	2.47	51,948	40,182	1,110,014	1,280,548
2025-01-30	$46.50	$45.00	22.6%	6.4%	20.4%	24.3%	21.8%	2.1%	-0.2%	64.1M	-1.67B	-15.1M	0.47	4.72	97,518	45,745	1,116,290	1,289,431
2025-01-31	$46.25	$45.00	22.9%	6.6%	20.5%	26.3%	22.6%	2.6%	0.7%	45.0M	-1.46B	-15.7M	0.75	2.44	72,870	54,417	1,122,906	1,314,256