BAC Options History — May 2025

In May 2025, BAC traded between $40.39 and $44.80. ATM implied volatility averaged 25.3%, placing in the 14.5% IV rank vs the trailing year. The 30-day expected move averaged 7.2%. IV traded below realized volatility by 5.4% (HV 20d: 30.7%). Max pain ranged from $39.00 to $40.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 9 of 21 days. Put/call ratio averaged 1.05.

Notable Days

  • 2025-05-12: Highest Volume — 290,026 contracts
  • 2025-05-12: Largest IV drop — 11.6% change
  • 2025-05-01: Highest IV Rank — 21.7%
  • 2025-05-01: Largest Expected Move — 8.5%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$43.14$40.39$44.80$40.39$44.17
Max Pain$39.95$39.00$40.00$40.00$40.00
ATM IV25.3%22.7%28.6%28.6%24.2%
Expected Move7.2%6.4%8.5%8.5%6.7%
HV 20d30.7%18.9%68.0%68.0%21.9%
HV 60d45.4%43.8%46.1%45.1%43.8%
IV Rank14.5%9.1%21.7%21.7%11.5%
IV Percentile54.3%33.7%77.0%77.0%42.9%
Term Structure0.1%-0.6%1.1%1.0%0.3%
VWIV25.8%22.8%29.5%28.6%24.5%
Skew 25d4.8%3.7%6.3%5.8%4.8%
Skew 10d10.1%7.9%12.1%10.9%10.5%
Call IV 25d23.1%20.6%25.4%25.4%22.4%
Put IV 25d28.0%24.8%31.7%31.2%27.1%
Bid-Ask Spread %2.531.835.562.372.98
Gamma HHI0.100.060.170.060.10
Net GEX48.8M17.6M99.9M17.6M56.3M
Net DEX-1.62B-2.86B-458.8M-458.8M-1.77B
Net VEX-19.6M-20.3M-18.8M-19.4M-19.7M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.050.402.670.660.79
Total Volume159,675.09571,155290,026168,73195,059
Total OI3,057,027.4292,826,5273,354,1102,994,3683,047,986

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2025-05-01$40.39$40.0028.6%8.5%68.0%21.7%28.6%5.8%1.0%17.6M-458.8M-19.4M0.662.37101,58767,1441,354,0291,640,339
2025-05-02$41.11$40.0026.6%7.6%52.8%17.4%26.6%5.4%1.1%36.9M-867.7M-19.4M0.702.30119,19882,9581,384,2921,660,415
2025-05-05$41.16$39.0027.9%7.9%45.0%20.2%28.9%6.0%-0.6%30.1M-786.3M-19.5M0.562.17108,63660,9091,365,6431,593,897
2025-05-06$41.00$40.0028.5%8.1%45.0%21.5%29.5%6.3%-0.4%32.5M-682.9M-19.9M0.962.2150,00947,9251,416,5291,640,239
2025-05-07$41.09$40.0028.1%7.9%43.3%20.6%28.7%6.1%-0.4%41.5M-764.2M-19.5M1.382.8149,00767,4581,435,0801,648,591
2025-05-08$41.84$40.0026.8%7.5%34.3%17.9%26.8%5.4%-0.5%67.8M-1.24B-19.6M0.812.84101,20382,2041,451,0131,682,793
2025-05-09$41.80$40.0025.8%7.3%26.1%15.7%26.1%5.7%-0.1%45.1M-1.20B-19.5M0.911.8351,15046,7381,452,9031,712,534
2025-05-12$43.28$40.0022.8%6.4%27.6%9.3%24.1%4.3%-0.2%71.3M-1.98B-18.8M0.552.30186,814103,2121,402,4601,655,524
2025-05-13$44.39$40.0022.9%6.5%27.7%9.6%24.3%3.8%-0.4%84.5M-2.63B-18.9M0.762.05134,665102,5641,435,3651,697,985
2025-05-14$44.80$40.0023.2%6.6%26.6%10.2%24.2%4.1%-0.1%80.0M-2.86B-19.5M0.401.92138,21155,7241,467,1371,723,838
2025-05-15$44.39$40.0024.3%6.9%24.9%12.6%24.7%4.2%-0.4%99.9M-2.64B-19.6M1.272.00116,026147,1841,503,5131,744,250
2025-05-16$44.66$40.0022.7%6.5%24.9%9.1%23.4%3.8%-0.1%62.4M-2.85B-19.2M0.755.56127,09394,6971,535,0081,819,102
2025-05-19$44.69$40.0023.7%6.8%22.5%11.3%23.8%3.7%-0.3%49.2M-2.08B-19.4M1.292.6469,02688,8521,276,4821,550,045
2025-05-20$44.66$40.0023.6%6.8%18.9%11.1%22.8%4.1%-0.1%46.5M-2.02B-19.8M0.682.5369,81347,4751,295,7681,603,580
2025-05-21$43.36$40.0025.8%7.4%22.9%15.8%25.9%4.4%0.7%21.2M-1.31B-20.3M1.102.8785,43294,3191,331,1251,621,371
2025-05-22$43.42$40.0025.6%7.3%22.3%15.4%26.3%4.8%0.9%23.2M-1.38B-20.3M1.962.4641,79981,8871,362,7501,647,166
2025-05-23$43.28$40.0026.2%7.4%22.3%16.0%27.3%4.8%0.9%27.2M-1.29B-20.2M1.532.2958,00688,6181,369,1051,670,041
2025-05-27$44.16$40.0024.6%6.9%23.0%12.4%24.9%5.0%0.5%42.5M-1.75B-19.6M1.312.3049,29364,7511,327,3461,635,582
2025-05-28$44.09$40.0024.8%6.9%23.1%12.8%25.5%4.3%0.4%39.6M-1.71B-19.8M2.672.1228,75276,6241,345,2661,669,216
2025-05-29$44.16$40.0024.8%6.9%22.5%12.8%25.3%4.5%0.2%49.3M-1.75B-19.7M1.042.4934,86436,2911,351,7031,670,565
2025-05-30$44.17$40.0024.2%6.7%21.9%11.5%24.5%4.8%0.3%56.3M-1.77B-19.7M0.792.9853,23541,8241,364,2721,683,714