BX Options History — July 2025

In July 2025, BX traded between $152.51 and $178.93. ATM implied volatility averaged 31.5%, placing in the 16.2% IV rank vs the trailing year. The 30-day expected move averaged 8.8%. IV traded above realized volatility by 0.1% (HV 20d: 31.4%). Max pain ranged from $145.00 to $160.00. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 7 of 22 days. Put/call ratio averaged 1.03.

Notable Days

2025-07-24: Highest Volume — 41,290 contracts
2025-07-24: Largest IV drop — 13.4% change
2025-07-08: Highest IV Rank — 22.7%
2025-07-16: Largest Expected Move — 9.9%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$165.95	$152.51	$178.93	$153.15	$173.01
Max Pain	$147.73	$145.00	$160.00	$145.00	$160.00
ATM IV	31.5%	26.1%	34.9%	29.6%	29.4%
Expected Move	8.8%	7.3%	9.9%	7.6%	7.9%
HV 20d	31.4%	29.3%	33.5%	29.3%	32.4%
HV 60d	38.6%	31.7%	54.7%	54.7%	31.9%
IV Rank	16.2%	5.9%	22.7%	12.6%	12.2%
IV Percentile	50.0%	6.0%	75.0%	33.3%	30.6%
Term Structure	-0.5%	-5.7%	3.4%	3.4%	-5.7%
VWIV	31.3%	26.2%	35.5%	28.0%	28.5%
Skew 25d	4.8%	0.9%	12.0%	6.1%	4.2%
Skew 10d	10.0%	-3.3%	23.3%	4.0%	7.5%
Call IV 25d	28.1%	21.1%	32.4%	23.6%	26.2%
Put IV 25d	32.9%	27.2%	36.8%	29.7%	30.4%
Bid-Ask Spread %	52.62	37.88	68.52	47.20	43.41
Gamma HHI	0.09	0.07	0.14	0.08	0.09
Net GEX	19.4M	6.4M	36.8M	18.2M	10.2M
Net DEX	-873.2M	-1.30B	-417.5M	-541.0M	-868.8M
Net VEX	-6.9M	-7.2M	-6.5M	-6.9M	-7.2M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	1.03	0.23	4.40	0.35	1.32
Total Volume	16,864.455	5,506	41,290	11,454	5,915
Total OI	315,494.273	296,579	339,891	312,059	339,891

Daily Data (22 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
2025-07-01	$153.15	$145.00	29.6%	7.6%	29.3%	12.6%	28.0%	6.1%	3.4%	18.2M	-541.0M	-6.9M	0.35	47.20	N/A	N/A	8,469	2,985	133,722	178,337
2025-07-02	$153.02	$145.00	33.2%	8.5%	29.3%	19.5%	29.4%	7.7%	-1.0%	21.5M	-551.5M	-7.0M	0.23	42.43	N/A	N/A	8,265	1,860	137,114	179,421
2025-07-03	$155.15	$145.00	33.2%	9.0%	29.4%	19.5%	31.1%	6.3%	-1.7%	18.6M	-650.9M	-7.0M	3.00	64.87	N/A	N/A	5,167	15,487	134,554	179,899
2025-07-07	$152.51	$145.00	34.1%	9.3%	30.2%	21.2%	34.6%	9.1%	-1.1%	6.4M	-417.5M	-7.0M	0.91	63.79	N/A	N/A	3,922	3,573	130,199	180,887
2025-07-08	$156.50	$145.00	34.9%	9.5%	30.8%	22.7%	33.3%	5.5%	0.3%	16.7M	-618.1M	-6.9M	0.68	56.36	N/A	N/A	5,173	3,510	131,206	182,366
2025-07-09	$158.18	$145.00	33.8%	9.2%	30.6%	20.6%	31.8%	5.5%	-1.3%	24.0M	-726.4M	-6.8M	0.45	67.15	N/A	N/A	4,657	2,097	132,317	183,892
2025-07-10	$163.55	$145.00	33.0%	9.2%	31.8%	19.0%	32.0%	12.0%	-1.0%	20.7M	-963.3M	-6.7M	0.66	64.09	N/A	N/A	10,913	7,210	133,336	184,269
2025-07-11	$162.16	$145.00	32.9%	9.3%	31.7%	18.8%	28.4%	5.3%	-0.4%	23.2M	-900.6M	-6.8M	0.40	62.77	N/A	N/A	13,414	5,395	136,051	187,503
2025-07-14	$163.18	$145.00	33.2%	9.4%	31.5%	19.4%	33.6%	4.9%	0.3%	18.5M	-814.5M	-6.9M	4.40	56.98	N/A	N/A	3,295	14,504	135,752	171,508
2025-07-15	$160.34	$145.00	33.2%	9.5%	29.5%	19.5%	35.5%	4.9%	-0.1%	7.3M	-685.8M	-6.9M	1.11	62.17	N/A	N/A	7,335	8,119	137,074	176,235
2025-07-16	$166.55	$145.00	34.7%	9.9%	31.3%	22.2%	34.5%	4.4%	-1.4%	23.6M	-997.0M	-6.8M	0.86	62.04	N/A	N/A	14,189	12,212	140,751	178,004
2025-07-17	$172.39	$145.00	33.8%	9.7%	30.8%	20.4%	33.9%	3.7%	-0.0%	36.8M	-1.27B	-6.8M	0.82	46.07	N/A	N/A	21,097	17,351	143,861	182,602
2025-07-18	$168.61	$145.00	34.0%	9.8%	33.0%	21.0%	33.9%	4.3%	-0.4%	15.1M	-1.02B	-7.2M	0.35	50.06	N/A	N/A	12,894	4,498	144,007	189,110
2025-07-21	$166.99	$145.00	31.9%	9.2%	33.5%	17.0%	33.9%	3.5%	1.0%	10.8M	-763.1M	-7.1M	1.32	42.55	N/A	N/A	3,761	4,972	126,078	170,501
2025-07-22	$170.04	$145.00	32.6%	9.4%	33.5%	18.3%	33.9%	1.4%	-0.1%	13.6M	-898.0M	-6.9M	0.69	40.33	N/A	N/A	3,253	2,253	127,044	173,970
2025-07-23	$171.49	$150.00	31.6%	9.2%	30.8%	16.5%	34.1%	2.2%	0.2%	16.0M	-972.8M	-6.8M	2.66	45.70	N/A	N/A	6,322	16,811	127,813	175,314
2025-07-24	$178.93	$150.00	27.4%	7.8%	32.5%	8.4%	26.6%	7.2%	-1.7%	31.3M	-1.30B	-6.5M	0.56	48.21	N/A	N/A	26,491	14,799	129,823	180,945
2025-07-25	$178.26	$150.00	26.3%	7.3%	31.9%	6.3%	26.2%	2.6%	2.0%	30.4M	-1.25B	-6.8M	0.45	47.18	N/A	N/A	10,777	4,808	137,936	187,894
2025-07-28	$176.38	$155.00	26.1%	7.4%	32.4%	5.9%	28.3%	0.9%	-0.5%	22.3M	-1.04B	-6.9M	0.49	37.96	N/A	N/A	7,882	3,877	130,828	176,455
2025-07-29	$176.70	$155.00	26.2%	7.4%	31.7%	6.2%	26.3%	1.1%	0.1%	23.6M	-1.05B	-7.1M	0.65	37.88	N/A	N/A	4,869	3,158	134,958	179,347
2025-07-30	$173.78	$155.00	27.6%	7.9%	32.2%	8.9%	29.9%	3.5%	-0.9%	19.0M	-915.8M	-7.2M	0.33	68.52	N/A	N/A	25,152	8,327	136,547	181,553
2025-07-31	$173.01	$160.00	29.4%	7.9%	32.4%	12.2%	28.5%	4.2%	-5.7%	10.2M	-868.8M	-7.2M	1.32	43.41	N/A	N/A	2,545	3,370	151,731	188,160