BAC Options History — September 2025

In September 2025, BAC traded between $49.44 and $52.58. ATM implied volatility averaged 25.0%, placing in the 13.2% IV rank vs the trailing year. The 30-day expected move averaged 7.7%. IV traded above realized volatility by 7.5% (HV 20d: 17.4%). Max pain ranged from $45.00 to $48.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 10 of 21 days. Put/call ratio averaged 0.79.

Notable Days

  • 2025-09-04: Highest Volume — 502,429 contracts
  • 2025-09-15: Largest IV spike — 11.9% change
  • 2025-09-30: Highest IV Rank — 19.1%
  • 2025-09-30: Largest Expected Move — 8.8%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$51.07$49.44$52.58$50.31$51.53
Max Pain$46.52$45.00$48.00$45.00$48.00
ATM IV25.0%21.0%27.7%23.2%27.7%
Expected Move7.7%6.4%8.8%6.7%8.8%
HV 20d17.4%15.0%20.4%19.1%16.5%
HV 60d19.5%19.0%20.1%19.4%19.2%
IV Rank13.2%4.6%19.1%9.5%19.1%
IV Percentile48.7%9.9%72.2%33.7%72.2%
Term Structure0.7%-1.4%4.9%0.0%0.2%
VWIV27.1%23.1%30.4%23.3%30.4%
Skew 25d3.3%2.6%4.1%4.0%4.1%
Skew 10d7.8%5.9%11.0%11.0%8.6%
Call IV 25d23.7%20.3%26.6%21.8%26.5%
Put IV 25d27.1%23.4%30.6%25.8%30.6%
Bid-Ask Spread %2.361.853.022.122.87
Gamma HHI0.120.080.320.120.11
Net GEX63.9M13.8M117.9M55.9M41.5M
Net DEX-2.53B-3.38B-1.90B-2.51B-2.32B
Net VEX-18.8M-20.0M-17.5M-19.4M-19.1M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.790.131.451.090.80
Total Volume136,167.95248,156502,429109,061129,448
Total OI2,690,257.7622,439,2252,866,4282,715,2992,580,169

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2025-09-02$50.31$45.0023.2%6.7%19.1%9.5%23.3%4.0%0.0%55.9M-2.51B-19.4M1.092.1252,07156,9901,140,2041,575,095
2025-09-03$49.98$45.0021.9%6.4%19.1%6.6%23.1%2.9%0.2%51.3M-2.41B-19.0M0.942.4162,70358,6911,156,5101,599,481
2025-09-04$50.66$46.0021.0%7.3%19.2%4.6%26.2%3.1%0.1%75.9M-2.71B-19.1M0.133.02443,86558,5641,166,0081,621,466
2025-09-05$49.72$46.0022.0%7.2%20.4%6.7%25.6%3.4%-0.1%13.8M-1.90B-20.0M0.992.6484,56484,0491,114,2981,654,329
2025-09-08$49.44$46.0022.8%7.6%19.8%8.6%26.1%3.6%3.8%48.8M-1.90B-19.5M1.451.9056,93782,3771,104,4061,600,195
2025-09-09$50.23$46.0022.8%7.6%20.3%8.5%26.3%3.1%3.7%72.7M-2.35B-19.0M0.891.9155,44049,2001,116,2881,625,480
2025-09-10$50.19$46.0022.9%7.6%18.5%8.8%27.9%2.6%3.8%66.5M-2.29B-19.0M0.751.8627,45320,7031,121,3101,641,481
2025-09-11$50.72$46.0023.0%7.7%18.4%8.9%27.0%2.9%4.9%89.0M-2.55B-19.0M0.962.4552,66450,4451,124,7711,645,848
2025-09-12$50.59$46.0023.2%7.5%18.5%9.3%26.4%2.8%4.9%72.2M-2.50B-18.7M0.601.8668,44641,0791,136,7721,668,007
2025-09-15$50.55$46.0025.9%7.7%17.5%15.3%26.6%3.1%-1.3%66.9M-2.37B-19.1M0.631.8564,26840,5461,106,9731,629,954
2025-09-16$50.64$46.0027.7%8.1%16.5%19.1%28.5%3.7%-1.4%68.1M-2.46B-18.8M0.701.8943,39530,3251,125,4851,647,956
2025-09-17$51.41$46.0026.9%7.7%17.0%17.4%28.9%3.5%-0.7%84.0M-2.82B-18.7M0.552.65125,95769,8851,136,8451,661,582
2025-09-18$52.09$47.0026.1%7.5%17.2%15.6%26.1%3.2%-0.3%95.9M-3.22B-17.5M0.532.06113,25960,3391,144,0491,687,730
2025-09-19$52.58$47.0025.8%7.5%17.0%14.9%25.9%3.7%-1.2%117.9M-3.38B-17.6M0.471.9793,83344,3911,154,1731,712,255
2025-09-22$52.03$47.0026.1%7.7%15.0%15.7%26.7%3.6%-0.5%54.9M-2.60B-18.3M0.592.5672,67642,6671,029,3411,409,884
2025-09-23$51.63$47.0027.5%8.2%15.4%18.6%29.4%3.2%-0.5%48.9M-2.49B-18.5M0.772.7369,52653,3961,063,5041,427,540
2025-09-24$51.55$47.0027.5%8.3%15.1%18.6%29.7%3.2%-0.6%46.6M-2.44B-18.4M1.202.4738,48146,1111,077,1911,451,266
2025-09-25$51.84$48.0027.6%8.1%15.1%18.9%28.7%3.5%-0.7%53.7M-2.47B-18.9M0.562.6259,93233,8181,089,5121,465,329
2025-09-26$52.21$48.0025.9%7.8%15.2%15.3%26.8%3.1%-0.4%54.5M-2.70B-18.4M0.662.7366,95044,0681,102,5161,470,415
2025-09-29$52.47$48.0026.7%8.1%15.2%17.0%29.2%3.8%0.4%62.7M-2.76B-17.9M1.292.9047,95662,0591,066,5491,443,246
2025-09-30$51.53$48.0027.7%8.8%16.5%19.1%30.4%4.1%0.2%41.5M-2.32B-19.1M0.802.8772,08957,3591,087,7491,492,420