BOX Options History — September 2025

In September 2025, BOX traded between $32.05 and $33.41. ATM implied volatility averaged 23.3%, placing in the 14.4% IV rank vs the trailing year. The 30-day expected move averaged 6.7%. IV traded above realized volatility by 2.1% (HV 20d: 21.2%). Max pain ranged from $32.00 to $32.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 15 of 21 days. Put/call ratio averaged 0.33.

Notable Days

  • 2025-09-30: Highest Volume — 4,181 contracts
  • 2025-09-23: Largest IV spike — 8.4% change
  • 2025-09-23: Highest IV Rank — 19.8%
  • 2025-09-23: Largest Expected Move — 7.3%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$32.53$32.05$33.41$32.05$32.13
Max Pain$32.00$32.00$32.00$32.00$32.00
ATM IV23.3%21.9%25.5%23.8%23.3%
Expected Move6.7%6.3%7.3%6.8%6.7%
HV 20d21.2%15.1%23.7%23.5%15.1%
HV 60d19.4%18.4%20.2%20.1%18.5%
IV Rank14.4%10.8%19.8%15.8%14.3%
IV Percentile40.5%17.1%60.7%48.8%39.7%
Term Structure2.3%-0.8%5.3%-0.8%-0.4%
VWIV23.4%19.6%24.9%24.7%23.5%
Skew 25d1.2%-0.8%2.2%1.9%0.5%
Skew 10d4.0%-0.2%11.3%5.6%7.4%
Call IV 25d23.2%21.9%24.8%24.1%22.5%
Put IV 25d24.4%22.8%26.0%26.0%23.0%
Bid-Ask Spread %67.2843.8083.6843.8059.87
Gamma HHI0.180.150.230.160.18
Net GEX2.2M1.4M3.1M2.0M1.5M
Net DEX-30.9M-45.5M-25.0M-25.7M-25.6M
Net VEX-229.6K-244.1K-211.4K-225.0K-237.9K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.330.030.800.450.05
Total Volume1,658.4293204,1811,2074,181
Total OI57,789.95242,79866,77860,14347,813

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2025-09-02$32.05$32.0023.8%6.8%23.5%15.8%24.7%1.9%-0.8%2.0M-25.7M-225.0K0.4543.80N/AN/A83537245,91314,230
2025-09-03$32.14$32.0023.6%6.8%23.0%15.2%24.1%1.4%-0.6%2.3M-29.1M-228.0K0.5352.46N/AN/A2,6161,39145,81614,164
2025-09-04$32.72$32.0022.2%6.5%23.5%11.6%22.8%2.2%4.3%2.4M-33.6M-231.5K0.3463.60N/AN/A2,90599246,38615,110
2025-09-05$32.67$32.0021.9%6.4%23.3%10.8%22.3%1.6%5.1%2.6M-33.1M-241.6K0.4867.02N/AN/A68232847,80615,571
2025-09-08$33.13$32.0023.2%6.5%23.7%14.0%22.9%2.0%4.8%2.9M-40.8M-235.4K0.6271.42N/AN/A1,8561,14247,51015,532
2025-09-09$33.41$32.0023.0%6.5%22.2%13.6%22.6%1.4%4.8%3.1M-45.5M-240.7K0.0769.18N/AN/A1,2829648,08416,537
2025-09-10$32.77$32.0022.6%6.5%23.6%12.7%23.1%1.4%5.3%2.4M-33.4M-231.0K0.0468.39N/AN/A1,4085347,98016,559
2025-09-11$32.98$32.0023.2%6.6%23.0%14.0%22.4%1.7%5.0%2.5M-36.4M-233.9K0.1275.09N/AN/A6908347,77216,553
2025-09-12$32.61$32.0023.5%6.7%22.1%14.9%24.3%2.1%4.5%2.3M-30.5M-225.7K0.0572.03N/AN/A6593647,88816,473
2025-09-15$32.37$32.0024.3%7.0%21.9%16.9%24.0%0.8%4.0%2.1M-27.3M-218.8K0.0577.86N/AN/A1,6557648,38516,475
2025-09-16$32.55$32.0023.9%6.9%21.9%15.9%23.7%0.7%4.6%2.5M-30.8M-223.1K0.6678.50N/AN/A1,01367249,45416,460
2025-09-17$32.77$32.0022.4%6.4%22.0%12.2%23.7%0.1%4.2%2.7M-34.4M-226.2K0.2778.28N/AN/A47313049,82916,949
2025-09-18$32.41$32.0023.9%6.8%22.4%15.8%23.9%0.8%0.6%2.4M-29.1M-219.4K0.1375.50N/AN/A6448249,80516,665
2025-09-19$32.15$32.0023.3%6.7%22.1%14.3%22.8%1.2%0.6%2.6M-27.8M-211.4K0.2983.68N/AN/A79723049,71515,869
2025-09-22$32.49$32.0023.5%6.7%21.5%14.9%24.7%-0.8%1.4%1.5M-26.5M-214.1K0.4865.17N/AN/A37217831,30911,489
2025-09-23$32.45$32.0025.5%7.3%21.0%19.8%24.7%1.8%-0.6%1.4M-25.0M-212.3K0.0362.57N/AN/A2,9769831,45811,630
2025-09-24$32.38$32.0024.4%7.0%20.9%17.2%24.9%1.6%-0.5%1.6M-29.9M-244.1K0.8052.08N/AN/A38430734,17111,653
2025-09-25$32.23$32.0023.8%6.8%16.7%15.8%24.3%1.9%-0.4%1.6M-27.1M-243.2K0.6271.22N/AN/A19812234,32311,699
2025-09-26$32.30$32.0022.1%6.3%16.0%11.2%19.6%0.2%0.9%1.7M-28.0M-239.3K0.2360.74N/AN/A3918834,43111,757
2025-09-29$32.44$32.0022.0%6.3%15.9%11.1%22.4%0.6%1.2%1.7M-29.2M-238.1K0.6264.47N/AN/A1,44289234,58211,784
2025-09-30$32.13$32.0023.3%6.7%15.1%14.3%23.5%0.5%-0.4%1.5M-25.6M-237.9K0.0559.87N/AN/A3,97520635,25712,556