BLSH Options History — December 2025

In December 2025, BLSH traded between $37.50 and $48.60. ATM implied volatility averaged 72.9%. The 30-day expected move averaged 20.8%. IV traded above realized volatility by 3.0% (HV 20d: 69.8%). Max pain ranged from $40.00 to $50.00. Net GEX was positive for 13 of 22 trading days. Term structure was in contango for 10 of 22 days. Put/call ratio averaged 0.67.

Notable Days

  • 2025-12-03: Highest Volume — 14,175 contracts
  • 2025-12-11: Largest IV spike — 14.3% change
  • 2025-12-01: Largest Expected Move — 23.9%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$43.56$37.50$48.60$41.11$37.50
Max Pain$41.82$40.00$50.00$50.00$45.00
ATM IV72.9%65.8%80.5%80.5%67.5%
Expected Move20.8%18.4%23.9%23.9%18.4%
HV 20d69.8%55.2%86.6%83.2%55.2%
HV 60d74.6%66.4%82.8%81.9%66.4%
Term Structure-0.4%-6.0%6.6%5.5%2.5%
VWIV75.4%55.1%89.2%89.2%63.7%
Skew 25d-0.6%-7.8%8.8%-3.1%-0.7%
Skew 10d-3.1%-38.1%29.1%4.3%-4.2%
Call IV 25d74.2%68.1%83.3%83.3%69.8%
Put IV 25d73.7%67.9%80.3%80.3%69.2%
Bid-Ask Spread %43.7130.6361.7040.9061.70
Gamma HHI0.110.070.260.080.26
Net GEX341.3K-820.5K1.8M-121.2K-365.1K
Net DEX-6.6M-50.5M27.4M9.9M27.4M
Net VEX-338.7K-390.8K-267.6K-327.2K-267.6K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.670.152.710.321.00
Total Volume6,444.51,03914,1755,42211,821
Total OI78,843.22761,42491,09676,40066,343

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2025-12-01$41.11$50.0080.5%23.9%83.2%0.0%89.2%-3.1%5.5%-121.2K9.9M-327.2K0.3240.90N/AN/A4,1121,31049,51126,889
2025-12-02$43.52$50.0077.1%23.4%86.6%0.0%85.7%-2.8%1.5%367.9K-6.6M-343.4K0.1541.58N/AN/A4,71572350,50927,328
2025-12-03$46.38$50.0078.7%23.1%83.7%0.0%82.9%8.8%-5.4%1.4M-34.1M-372.2K0.5045.30N/AN/A9,4474,72854,11927,574
2025-12-04$48.60$40.0076.9%22.0%83.0%0.0%77.7%-2.0%-6.0%1.7M-50.5M-390.8K0.3431.35N/AN/A5,9332,02756,77929,623
2025-12-05$46.91$40.0074.5%21.0%79.2%0.0%73.9%-3.4%2.2%1.8M-40.1M-384.7K1.0038.97N/AN/A3,3043,29059,39729,935
2025-12-08$45.97$40.0075.9%21.7%79.5%0.0%77.0%-3.3%0.7%888.4K-20.1M-359.6K0.3530.63N/AN/A1,99770856,74425,228
2025-12-09$46.05$40.0075.0%20.7%78.8%0.0%74.1%2.1%-2.2%992.4K-22.6M-362.2K0.5741.76N/AN/A3,2651,84558,10925,539
2025-12-10$46.44$40.0065.8%21.0%77.7%0.0%77.4%7.8%6.6%1.4M-22.5M-356.5K0.4253.04N/AN/A2,26194360,00526,252
2025-12-11$45.36$40.0075.2%21.0%78.2%0.0%55.1%-7.8%-1.1%446.5K-11.3M-341.7K0.6944.52N/AN/A4,1862,87261,25026,787
2025-12-12$43.80$40.0075.1%20.8%71.8%0.0%73.9%4.2%-3.0%-388.4K4.5M-333.5K0.8045.15N/AN/A7,3365,85362,22128,544
2025-12-15$42.49$40.0073.7%21.2%66.9%0.0%74.1%1.1%-3.7%85.0K9.6M-325.7K1.5046.99N/AN/A1,7892,67856,27626,674
2025-12-16$43.23$40.0072.7%20.8%64.3%0.0%73.2%-0.3%-4.2%51.9K7.7M-333.3K0.2637.93N/AN/A2,38261256,83328,496
2025-12-17$42.17$40.0076.1%21.8%64.7%0.0%82.8%-4.1%1.0%-81.1K11.4M-327.7K0.3240.77N/AN/A2,17368658,47828,609
2025-12-18$42.42$40.0074.3%21.3%61.0%0.0%82.3%-1.0%-0.7%-55.4K7.3M-329.2K0.2648.72N/AN/A7,0351,79959,44028,147
2025-12-19$44.50$40.0071.7%20.5%62.6%0.0%75.0%-2.6%-0.8%384.5K-10.5M-348.9K1.1943.51N/AN/A4,7655,66162,04929,047
2025-12-22$45.74$40.0069.2%19.8%59.2%0.0%69.0%-1.1%1.1%1.1M-26.7M-361.2K0.4143.16N/AN/A5,0052,04138,69222,732
2025-12-23$42.85$40.0069.9%20.1%61.5%0.0%89.2%-7.6%0.8%136.8K-7.8M-346.7K0.2039.89N/AN/A2,46348742,20623,732
2025-12-24$42.93$40.0070.9%19.3%61.2%0.0%73.4%2.8%-0.3%-561.1K-3.9M-333.6K0.3535.98N/AN/A76927043,59824,053
2025-12-26$41.03$40.0067.2%18.4%60.3%0.0%73.5%1.5%-0.5%-820.5K8.8M-312.7K0.8947.77N/AN/A6,3235,61943,92724,149
2025-12-29$40.16$40.0067.8%19.7%60.3%0.0%70.1%-0.1%0.5%-235.9K6.4M-302.9K2.7147.91N/AN/A9912,68240,23823,010
2025-12-30$39.27$45.0067.3%18.4%57.7%0.0%64.7%-1.1%-2.5%-612.1K18.2M-289.8K0.4754.09N/AN/A1,95791640,47225,007
2025-12-31$37.50$45.0067.5%18.4%55.2%0.0%63.7%-0.7%2.5%-365.1K27.4M-267.6K1.0061.70N/AN/A5,9105,91141,03225,311