BX Options History — March 2025

In March 2025, BX traded between $136.34 and $157.63. ATM implied volatility averaged 39.9%, placing in the 73.6% IV rank vs the trailing year. The 30-day expected move averaged 11.7%. IV traded above realized volatility by 2.4% (HV 20d: 37.6%). Max pain ranged from $155.00 to $170.00. Net GEX was positive for 3 of 21 trading days. Term structure was in contango for 9 of 21 days. Put/call ratio averaged 0.81.

Notable Days

2025-03-28: Highest Volume — 24,581 contracts
2025-03-10: Largest IV spike — 15.0% change
2025-03-06: Highest IV Rank — 100.0%
2025-03-10: Largest Expected Move — 15.8%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$145.92	$136.34	$157.63	$157.63	$140.20
Max Pain	$165.48	$155.00	$170.00	$165.00	$165.00
ATM IV	39.9%	35.3%	47.8%	36.7%	43.1%
Expected Move	11.7%	10.1%	15.8%	11.3%	11.6%
HV 20d	37.6%	27.6%	46.0%	27.6%	46.0%
HV 60d	34.5%	31.3%	36.9%	31.3%	36.8%
IV Rank	73.6%	49.6%	100.0%	76.6%	81.1%
IV Percentile	96.4%	88.9%	100.0%	98.0%	98.8%
Term Structure	-0.3%	-5.2%	1.9%	-0.7%	-0.7%
VWIV	40.1%	33.5%	54.3%	37.4%	37.4%
Skew 25d	5.7%	4.0%	7.5%	5.6%	7.0%
Skew 10d	9.7%	-8.2%	20.4%	9.5%	5.7%
Call IV 25d	36.5%	26.8%	44.1%	33.7%	38.1%
Put IV 25d	42.2%	33.5%	51.7%	39.3%	45.2%
Bid-Ask Spread %	49.12	19.84	63.88	43.19	57.21
Gamma HHI	0.06	0.05	0.08	0.07	0.05
Net GEX	-5.8M	-14.5M	4.9M	-3.7M	-3.4M
Net DEX	236.3M	-101.4M	572.2M	-18.9M	310.6M
Net VEX	-6.5M	-7.0M	-5.9M	-6.0M	-6.7M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.81	0.18	1.44	0.57	0.18
Total Volume	14,532.952	5,689	24,581	7,161	22,735
Total OI	297,660.095	272,460	324,109	272,460	297,610

Daily Data (21 trading days)

Date	Price	Max Pain	ATM IV	Exp Move	HV 20d	IV Rank	VWIV	Skew 25d	Term Str	GEX	DEX	VEX	P/C	Spread %	Call Wall	Put Wall	Call Vol	Put Vol	Call OI	Put OI
2025-03-03	$157.63	$165.00	36.7%	11.3%	27.6%	76.6%	37.4%	5.6%	-0.7%	-3.7M	-18.9M	-6.0M	0.57	43.19	N/A	N/A	4,548	2,613	115,192	157,268
2025-03-04	$151.81	$165.00	39.5%	11.6%	29.5%	92.2%	39.3%	5.5%	-2.5%	-9.5M	187.8M	-6.0M	0.72	40.15	N/A	N/A	11,961	8,579	117,172	158,054
2025-03-05	$152.20	$165.00	37.5%	11.0%	29.4%	80.9%	38.1%	4.3%	-0.7%	-9.3M	163.4M	-6.1M	1.40	40.97	N/A	N/A	6,481	9,089	121,391	160,465
2025-03-06	$145.16	$165.00	42.4%	12.8%	31.0%	100.0%	44.1%	5.8%	0.6%	-11.4M	377.9M	-5.9M	0.76	40.34	N/A	N/A	9,748	7,448	124,598	161,956
2025-03-07	$144.62	$160.00	41.6%	12.5%	31.0%	95.7%	43.2%	6.6%	0.0%	-14.5M	399.3M	-6.0M	1.10	37.06	N/A	N/A	10,464	11,536	127,937	164,569
2025-03-10	$139.33	$160.00	47.8%	15.8%	32.1%	100.0%	53.6%	7.5%	0.1%	-8.9M	470.4M	-6.0M	1.30	32.86	N/A	N/A	8,971	11,690	128,863	161,682
2025-03-11	$138.50	$160.00	46.2%	14.8%	32.1%	93.4%	54.3%	6.4%	-0.5%	-9.8M	511.4M	-6.2M	0.36	37.48	N/A	N/A	14,830	5,328	129,453	167,990
2025-03-12	$141.23	$160.00	43.3%	13.3%	33.3%	81.7%	45.8%	7.2%	-0.1%	-5.7M	432.9M	-6.2M	0.71	37.68	N/A	N/A	4,971	3,515	143,027	167,857
2025-03-13	$136.34	$160.00	42.9%	13.2%	33.9%	80.1%	42.3%	5.9%	0.3%	-12.1M	572.2M	-5.9M	1.44	38.16	N/A	N/A	7,439	10,713	145,407	168,219
2025-03-14	$140.93	$155.00	39.2%	11.7%	36.9%	65.5%	42.5%	5.2%	0.9%	-7.2M	345.7M	-6.3M	0.52	19.84	N/A	N/A	11,685	6,097	152,723	171,386
2025-03-17	$148.93	$170.00	39.9%	10.5%	41.3%	68.0%	38.8%	5.6%	-5.2%	-7.0M	125.9M	-6.8M	0.74	55.79	N/A	N/A	7,478	5,507	135,824	170,422
2025-03-18	$145.93	$170.00	40.5%	11.2%	41.3%	70.7%	37.2%	6.2%	-0.3%	-6.2M	225.0M	-6.6M	0.70	61.93	N/A	N/A	3,641	2,551	138,654	172,494
2025-03-19	$150.47	$170.00	38.4%	11.1%	43.2%	61.9%	36.2%	5.1%	-1.1%	-6.0M	47.5M	-6.9M	0.54	63.45	N/A	N/A	5,356	2,880	140,925	173,620
2025-03-20	$149.19	$170.00	37.4%	10.5%	43.0%	57.9%	34.5%	4.4%	-0.1%	-4.2M	100.3M	-6.8M	1.05	60.14	N/A	N/A	4,627	4,842	143,246	174,446
2025-03-21	$148.74	$170.00	36.2%	10.3%	41.4%	53.4%	34.5%	4.1%	-0.9%	2.4M	131.8M	-6.8M	0.66	56.45	N/A	N/A	6,119	4,042	145,379	176,233
2025-03-24	$152.43	$170.00	35.5%	10.1%	42.5%	50.3%	33.5%	4.0%	1.6%	4.4M	-101.4M	-6.9M	0.76	59.29	N/A	N/A	10,990	8,320	118,401	156,245
2025-03-25	$150.78	$170.00	35.3%	10.4%	42.7%	49.6%	35.4%	6.7%	1.9%	4.9M	-39.7M	-7.0M	1.00	63.88	N/A	N/A	5,197	5,208	123,290	161,162
2025-03-26	$146.79	$170.00	37.4%	10.6%	42.8%	58.2%	36.0%	5.5%	1.2%	-1.1M	107.3M	-6.8M	1.13	62.81	N/A	N/A	3,624	4,099	126,503	163,656
2025-03-27	$145.08	$170.00	37.3%	10.5%	42.7%	57.8%	36.3%	5.5%	0.3%	-5.4M	192.7M	-6.8M	0.59	63.40	N/A	N/A	3,576	2,113	127,352	165,465
2025-03-28	$138.02	$165.00	40.6%	11.2%	45.3%	70.9%	41.7%	6.0%	-0.3%	-7.5M	419.3M	-6.5M	0.83	59.47	N/A	N/A	13,441	11,140	128,955	165,771
2025-03-31	$140.20	$165.00	43.1%	11.6%	46.0%	81.1%	37.4%	7.0%	-0.7%	-3.4M	310.6M	-6.7M	0.18	57.21	N/A	N/A	19,297	3,438	131,023	166,587