BTM Options History — March 2026

In March 2026, BTM traded between $2.10 and $5.40. ATM implied volatility averaged 212.5%, placing in the 39.5% IV rank vs the trailing year. The 30-day expected move averaged 57.8%. IV traded above realized volatility by 79.8% (HV 20d: 132.7%). Max pain ranged from $1.00 to $4.00. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 2 of 22 days.

Notable Days

  • 2026-03-06: Largest IV spike — 45.1% change
  • 2026-03-10: Highest IV Rank — 67.8%
  • 2026-03-19: Largest Expected Move — 63.7%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$3.95$2.10$5.40$4.42$2.10
Max Pain$3.59$1.00$4.00$1.00$4.00
ATM IV212.5%170.4%331.2%197.0%171.6%
Expected Move57.8%48.9%63.7%56.5%49.2%
HV 20d132.7%106.1%149.3%147.0%107.5%
HV 60d105.5%100.6%112.3%104.0%111.7%
IV Rank39.5%29.5%67.8%35.8%29.7%
IV Percentile84.4%72.1%99.0%86.5%72.3%
Term Structure-22.1%-53.1%12.4%-11.4%7.5%
Skew 25d-3.1%-41.5%18.1%-7.1%-11.7%
Skew 10d-14.0%-42.7%32.2%32.2%-20.9%
Call IV 25d196.3%173.1%220.0%208.1%183.7%
Put IV 25d193.2%172.0%210.2%200.9%172.0%
Bid-Ask Spread %15.028.8222.2710.3615.56
Gamma HHI0.160.140.210.140.17
Net GEX27.1K10.3K40.9K33.9K10.5K
Net DEX-5.8M-9.7M-1.7M-7.1M-1.7M
Net VEX-19.0K-26.0K-10.5K-22.6K-10.9K
Div Yield0.0%0.0%0.0%0.0%0.0%
Total Volume00000
Total OI23,286.68218,02225,93025,56718,022

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2026-03-02$4.42$1.00197.0%56.5%147.0%35.8%0.0%-7.1%-11.4%33.9K-7.1M-22.6K0.0010.36N/AN/A0024,786781
2026-03-03$4.56$1.00208.1%59.7%144.5%38.4%0.0%1.1%-23.9%33.8K-7.5M-22.2K0.0010.70N/AN/A0024,892781
2026-03-04$4.86$1.00204.2%58.5%146.8%37.5%0.0%13.3%-14.3%36.2K-8.3M-23.8K0.008.82N/AN/A0024,945781
2026-03-05$5.40$4.00200.5%55.2%149.3%36.6%0.0%1.9%-8.1%40.9K-9.7M-26.0K0.0015.99N/AN/A0024,944781
2026-03-06$5.29$4.00291.0%56.5%144.2%58.2%0.0%-11.4%-14.1%39.8K-9.2M-24.8K0.0016.48N/AN/A0024,944781
2026-03-09$4.94$4.00299.8%57.2%143.2%60.3%0.0%-19.6%-11.9%38.4K-8.1M-22.7K0.0015.84N/AN/A0024,944781
2026-03-10$4.84$4.00331.2%58.8%141.7%67.8%0.0%-3.0%-22.2%36.3K-8.3M-23.2K0.0015.07N/AN/A0024,942781
2026-03-11$4.84$4.00206.3%59.2%141.7%38.0%0.0%-2.4%-25.1%37.4K-8.2M-23.2K0.0014.69N/AN/A0024,940781
2026-03-12$4.87$4.00209.4%0.0%139.2%38.8%0.0%-2.3%-26.3%40.3K-8.3M-23.7K0.0014.93N/AN/A0024,950781
2026-03-13$4.64$4.00212.1%0.0%138.3%39.4%0.0%-9.3%12.4%39.4K-7.5M-21.4K0.0014.13N/AN/A0024,948781
2026-03-16$4.47$4.00206.2%61.5%133.0%38.0%0.0%-10.9%-24.1%39.5K-7.2M-21.1K0.0014.39N/AN/A0024,948781
2026-03-17$4.02$4.00210.9%63.7%135.1%39.1%0.0%-30.0%-28.0%33.7K-6.0M-18.7K0.0013.57N/AN/A0024,949780
2026-03-18$4.14$4.00194.9%61.7%136.3%35.3%0.0%11.9%-26.8%19.2K-6.4M-19.2K0.0015.00N/AN/A0024,949780
2026-03-19$3.58$4.00211.4%63.7%142.9%39.2%0.0%-41.5%-39.5%17.2K-5.0M-17.4K0.0013.70N/AN/A0024,949680
2026-03-20$3.33$4.00199.8%54.1%143.7%36.5%0.0%15.1%-13.2%16.4K-4.6M-16.1K0.0019.36N/AN/A0025,272658
2026-03-23$3.21$4.00196.1%60.5%134.3%35.6%0.0%5.9%-39.2%16.4K-2.9M-15.4K0.0016.65N/AN/A0017,591549
2026-03-24$3.30$4.00194.2%60.7%106.1%35.1%0.0%18.1%-41.9%16.1K-3.2M-16.3K0.0015.97N/AN/A0017,591549
2026-03-25$2.98$4.00184.4%63.5%106.5%32.8%0.0%11.6%-53.1%15.1K-2.6M-14.0K0.0022.27N/AN/A0017,590489
2026-03-26$2.56$4.00192.5%55.2%114.5%34.7%0.0%-0.3%-38.0%12.8K-2.0M-12.1K0.0017.49N/AN/A0017,590489
2026-03-27$2.45$4.00170.4%48.9%114.3%29.5%0.0%5.0%-21.0%12.8K-1.9M-11.6K0.0014.91N/AN/A0017,590438
2026-03-30$2.16$4.00183.1%52.5%110.3%32.5%0.0%-1.8%-23.6%10.3K-1.7M-10.5K0.0014.45N/AN/A0017,590438
2026-03-31$2.10$4.00171.6%49.2%107.5%29.7%0.0%-11.7%7.5%10.5K-1.7M-10.9K0.0015.56N/AN/A0017,590432