BTM Options History — October 2025

In October 2025, BTM traded between $18.20 and $30.66. ATM implied volatility averaged 106.8%. The 30-day expected move averaged 30.9%. IV traded below realized volatility by 2.2% (HV 20d: 109.0%). Max pain ranged from $21.00 to $28.00. Net GEX was positive for 23 of 23 trading days. Term structure was in contango for 4 of 23 days. Put/call ratio averaged 0.03.

Notable Days

  • 2025-10-06: Highest Volume — 1,011 contracts
  • 2025-10-22: Largest IV drop — 22.8% change
  • 2025-10-20: Largest Expected Move — 36.6%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$21.52$18.20$30.66$26.67$19.25
Max Pain$22.83$21.00$28.00$28.00$21.00
ATM IV106.8%82.6%127.7%93.4%119.0%
Expected Move30.9%26.3%36.6%26.8%34.1%
HV 20d109.0%62.9%125.1%65.0%113.9%
HV 60d80.9%68.5%85.8%69.1%83.9%
Term Structure-8.0%-38.7%36.0%5.1%-6.4%
VWIV107.0%56.9%127.1%106.6%113.5%
Skew 25d-5.2%-45.0%55.6%-30.8%-12.3%
Skew 10d29.5%-49.2%211.7%-49.1%-36.2%
Call IV 25d107.9%63.8%126.3%106.7%126.3%
Put IV 25d102.7%72.1%178.2%75.9%114.0%
Bid-Ask Spread %74.0332.4595.3166.0373.03
Gamma HHI0.250.190.340.210.19
Net GEX33.3K23.2K61.4K24.1K29.7K
Net DEX-1.7M-4.2M-1.0M-1.2M-1.4M
Net VEX-16.7K-27.0K-13.5K-15.7K-14.2K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.030.000.180.040.00
Total Volume287.348501,01122170
Total OI4,575.9132,6215,2252,6215,127

Daily Data (23 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2025-10-01$26.67$28.0093.4%26.8%65.0%0.0%106.6%-30.8%5.1%24.1K-1.2M-15.7K0.0466.03N/AN/A21382,407214
2025-10-02$26.88$28.0097.4%27.9%63.2%0.0%96.1%-24.7%3.3%25.8K-1.1M-14.0K0.0268.18N/AN/A15542,461217
2025-10-03$26.88$28.00104.2%29.9%62.9%0.0%105.2%-45.0%1.5%30.1K-1.7M-18.4K0.0070.61N/AN/A1,00612,559221
2025-10-06$30.66$28.00112.1%30.2%76.0%0.0%111.5%-23.9%-5.4%61.4K-4.2M-27.0K0.0332.45N/AN/A979323,390222
2025-10-07$24.64$28.0095.7%32.0%110.9%0.0%113.2%-11.6%-9.7%41.8K-1.6M-17.1K0.0463.87N/AN/A806293,727250
2025-10-08$23.59$28.0082.6%29.3%111.2%0.0%107.9%-4.5%-5.0%48.8K-2.0M-20.1K0.1857.57N/AN/A284524,323262
2025-10-09$23.10$21.0086.7%28.0%111.3%0.0%111.2%-20.4%-3.3%46.1K-1.7M-17.7K0.0133.39N/AN/A13814,480312
2025-10-10$21.28$21.00104.0%32.6%112.8%0.0%120.4%-23.9%-33.3%37.6K-1.6M-17.7K0.1472.93N/AN/A240344,519312
2025-10-13$20.16$21.00127.7%31.0%113.7%0.0%109.8%-2.1%-14.6%29.1K-1.2M-16.1K0.0380.66N/AN/A31994,553343
2025-10-14$21.00$21.00103.5%28.0%115.4%0.0%111.4%32.9%-5.0%33.6K-1.5M-17.4K0.0280.12N/AN/A16434,663323
2025-10-15$20.58$21.0091.6%26.3%115.1%0.0%108.7%-20.2%-9.2%33.5K-1.5M-16.4K0.0289.39N/AN/A18644,782322
2025-10-16$18.20$21.00110.0%31.5%121.3%0.0%105.7%-12.2%-9.9%23.2K-1.3M-15.5K0.0273.65N/AN/A27664,900325
2025-10-17$18.20$21.00111.1%31.9%120.9%0.0%114.2%55.6%-9.4%23.9K-1.0M-13.5K0.0182.23N/AN/A7504,893301
2025-10-20$18.97$21.00127.6%36.6%122.7%0.0%127.1%-5.5%-34.5%28.4K-1.5M-16.0K0.0281.53N/AN/A41674,330242
2025-10-21$19.18$21.00127.0%36.4%123.0%0.0%122.4%-25.1%-38.7%31.5K-1.6M-15.9K0.0585.01N/AN/A15684,695249
2025-10-22$19.18$21.0098.0%28.1%123.1%0.0%99.8%17.9%-1.4%31.5K-1.5M-15.9K0.0193.39N/AN/A4914,695257
2025-10-23$20.16$21.00117.0%33.5%125.1%0.0%94.8%-5.1%-7.9%34.1K-1.8M-15.4K0.0073.08N/AN/A20304,713257
2025-10-24$19.95$21.00103.5%29.7%125.0%0.0%96.5%22.2%-5.7%33.4K-2.4M-19.0K0.0164.18N/AN/A13114,751258
2025-10-27$19.81$21.00109.0%31.3%124.9%0.0%108.3%-18.3%-4.7%31.9K-1.6M-14.9K0.0188.05N/AN/A25324,813259
2025-10-28$19.53$21.00111.6%32.0%123.8%0.0%105.3%-12.8%-8.9%31.5K-2.0M-17.3K0.0187.14N/AN/A6714,830259
2025-10-29$18.41$21.00101.0%29.0%112.6%0.0%56.9%34.0%36.0%26.8K-1.7M-15.6K0.0191.02N/AN/A7914,848259
2025-10-30$18.76$21.00123.4%35.4%113.0%0.0%115.7%15.9%-16.8%27.1K-1.3M-14.2K0.0095.31N/AN/A14004,865258
2025-10-31$19.25$21.00119.0%34.1%113.9%0.0%113.5%-12.3%-6.4%29.7K-1.4M-14.2K0.0073.03N/AN/A7004,870257