BLSH Options History — November 2025

In November 2025, BLSH traded between $36.05 and $50.41. ATM implied volatility averaged 88.6%. The 30-day expected move averaged 25.8%. IV traded above realized volatility by 16.8% (HV 20d: 71.8%). Max pain ranged from $50.00 to $60.00. Net GEX was positive for 14 of 19 trading days. Term structure was in contango for 7 of 19 days. Put/call ratio averaged 0.69.

Notable Days

  • 2025-11-19: Highest Volume — 19,225 contracts
  • 2025-11-19: Largest IV drop — 9.6% change
  • 2025-11-04: Largest Expected Move — 28.8%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$42.41$36.05$50.41$50.41$43.43
Max Pain$51.95$50.00$60.00$58.00$50.00
ATM IV88.6%81.6%97.2%82.7%81.6%
Expected Move25.8%24.0%28.8%24.4%24.0%
HV 20d71.8%55.1%83.3%55.1%82.1%
HV 60d87.1%82.6%89.3%86.2%82.6%
Term Structure0.2%-4.8%24.2%0.3%4.5%
VWIV94.8%77.8%107.3%90.6%77.8%
Skew 25d-5.9%-20.3%1.5%-9.6%-20.3%
Skew 10d-9.7%-26.8%22.9%-10.8%22.9%
Call IV 25d94.9%81.7%103.3%87.1%103.2%
Put IV 25d89.0%72.9%98.2%77.5%82.9%
Bid-Ask Spread %45.6431.7456.8737.0252.96
Gamma HHI0.070.050.110.070.07
Net GEX303.4K-499.7K1.3M173.2K1.3M
Net DEX22.6M-28.6M53.1M16.3M-28.6M
Net VEX-320.4K-378.7K-246.3K-378.7K-355.3K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.690.063.020.341.78
Total Volume9,673.0532,30519,2259,1287,987
Total OI83,717.73770,62897,02071,62983,260

Daily Data (19 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2025-11-03$50.41$58.0082.7%24.4%55.1%0.0%90.6%-9.6%0.3%173.2K16.3M-378.7K0.3437.02N/AN/A6,8292,29944,97126,658
2025-11-04$45.89$57.0086.6%28.8%60.4%0.0%106.7%-4.8%2.1%14.6K31.4M-347.8K0.6946.06N/AN/A4,9773,43449,98727,604
2025-11-05$48.50$57.0086.7%28.1%64.4%0.0%107.3%-5.3%1.4%355.1K20.5M-360.0K0.0636.70N/AN/A9,76560751,32927,883
2025-11-06$44.93$60.0085.5%24.2%67.9%0.0%86.8%0.4%24.2%141.7K35.4M-334.7K0.7239.05N/AN/A6,7534,88455,59028,048
2025-11-07$45.41$55.0092.6%25.3%65.1%0.0%92.5%-8.8%-4.2%348.1K27.7M-350.5K0.3339.90N/AN/A6,5742,14959,23129,895
2025-11-10$46.73$50.0089.4%25.6%66.8%0.0%93.1%-6.1%1.2%536.9K12.4M-363.0K0.1331.74N/AN/A6,65386351,77028,728
2025-11-11$45.05$50.0092.7%25.8%67.3%0.0%96.4%-4.1%-0.5%321.7K20.4M-355.3K1.2942.85N/AN/A1,0081,29755,96529,015
2025-11-12$45.42$50.0090.9%25.9%67.7%0.0%98.9%-1.1%1.2%288.4K20.1M-354.4K0.3843.02N/AN/A3,0551,16356,04929,149
2025-11-13$41.47$50.0094.2%25.9%73.0%0.0%95.7%-7.0%-2.4%-254.6K42.0M-306.9K0.6347.45N/AN/A10,2086,40858,07130,013
2025-11-14$38.47$50.0093.7%26.4%75.6%0.0%94.6%-1.2%-0.2%-499.7K53.1M-280.3K0.3356.87N/AN/A6,1362,00659,20331,447
2025-11-17$36.76$50.0097.2%27.5%74.2%0.0%101.9%-6.3%-4.7%-89.3K46.7M-255.3K1.4954.80N/AN/A3,4685,15153,20828,353
2025-11-18$37.98$50.0095.5%27.4%76.9%0.0%98.9%-5.1%-4.8%-102.9K45.4M-266.8K0.2555.11N/AN/A10,7672,73655,00329,599
2025-11-19$36.05$50.0086.4%24.8%73.3%0.0%89.0%-4.5%-1.2%-38.2K50.1M-246.3K0.5249.92N/AN/A12,6246,60159,87030,917
2025-11-20$36.22$50.0085.1%24.6%72.4%0.0%95.2%-10.8%-4.3%143.6K36.5M-266.8K0.6153.73N/AN/A5,5073,36165,87331,031
2025-11-21$38.77$50.0088.1%25.4%78.4%0.0%94.1%-5.6%-2.2%824.5K19.4M-289.3K0.1250.68N/AN/A12,5591,51766,68930,331
2025-11-24$41.10$50.0084.7%25.1%80.3%0.0%97.5%-6.8%-0.7%516.4K158.9K-304.8K0.2050.87N/AN/A7,5611,52846,00224,626
2025-11-25$40.50$50.0086.3%25.6%79.9%0.0%93.1%-7.0%-1.0%825.0K-2.1M-326.6K3.0235.30N/AN/A1,3484,06651,17925,318
2025-11-26$42.78$50.0084.2%24.6%83.3%0.0%91.1%1.5%-4.3%926.9K-16.8M-345.8K0.1643.10N/AN/A8,5491,39051,59127,181
2025-11-28$43.43$50.0081.6%24.0%82.1%0.0%77.8%-20.3%4.5%1.3M-28.6M-355.3K1.7852.96N/AN/A2,8745,11355,55927,701