COIN Options History — March 2025

In March 2025, COIN traded between $170.89 and $222.01. ATM implied volatility averaged 72.8%, placing in the 31.5% IV rank vs the trailing year. The 30-day expected move averaged 22.1%. IV traded below realized volatility by 16.0% (HV 20d: 88.8%). Max pain ranged from $185.00 to $240.00. Net GEX was positive for 16 of 21 trading days. Term structure was in contango for 6 of 21 days. Put/call ratio averaged 0.51.

Notable Days

2025-03-07: Highest Volume — 405,887 contracts
2025-03-10: Largest IV spike — 25.4% change
2025-03-10: Highest IV Rank — 78.4%
2025-03-10: Largest Expected Move — 30.8%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$193.77	$170.89	$222.01	$203.91	$170.89
Max Pain	$207.38	$185.00	$240.00	$240.00	$185.00
ATM IV	72.8%	61.3%	92.7%	77.7%	73.5%
Expected Move	22.1%	19.1%	30.8%	23.9%	21.0%
HV 20d	88.8%	62.5%	98.9%	62.5%	97.9%
HV 60d	76.0%	68.5%	79.5%	70.1%	79.1%
IV Rank	31.5%	3.3%	78.4%	41.8%	35.8%
IV Percentile	39.1%	1.2%	88.5%	60.3%	46.8%
Term Structure	-0.2%	-2.9%	5.0%	-1.3%	-1.7%
VWIV	77.9%	66.9%	105.3%	84.0%	73.8%
Skew 25d	5.4%	0.0%	16.1%	2.4%	5.6%
Skew 10d	9.6%	0.4%	25.6%	3.1%	10.0%
Call IV 25d	70.6%	59.3%	84.6%	78.2%	71.5%
Put IV 25d	75.9%	62.7%	100.6%	80.6%	77.1%
Bid-Ask Spread %	25.54	11.84	41.92	38.22	17.73
Gamma HHI	0.08	0.05	0.21	0.05	0.08
Net GEX	35.6M	-34.0M	139.5M	7.4M	21.0M
Net DEX	-253.9M	-2.13B	1.52B	-10.2M	371.0M
Net VEX	-24.9M	-30.0M	-20.9M	-26.7M	-20.9M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.51	0.17	1.42	0.43	0.80
Total Volume	195,853.048	84,805	405,887	241,534	104,431
Total OI	1,156,234.476	957,784	1,278,813	1,110,491	1,001,350

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 Vol	Put Vol	Call OI	Put OI
2025-03-03	$203.91	$240.00	77.7%	23.9%	62.5%	41.8%	84.0%	2.4%	-1.3%	7.4M	-10.2M	-26.7M	0.43	38.22	168,855	72,679	671,026	439,465
2025-03-04	$212.64	$240.00	77.0%	23.5%	66.0%	40.2%	84.1%	0.6%	-0.9%	34.9M	-883.7M	-28.5M	0.49	36.90	134,832	65,599	706,077	455,640
2025-03-05	$222.01	$240.00	74.2%	22.1%	69.1%	33.5%	80.7%	0.0%	-1.7%	79.2M	-2.00B	-30.0M	0.41	29.02	98,734	40,821	734,951	465,741
2025-03-06	$213.54	$240.00	78.4%	23.6%	69.7%	43.4%	87.4%	1.6%	-0.8%	45.5M	-995.0M	-29.0M	0.41	33.38	107,250	43,618	750,040	473,661
2025-03-07	$216.86	$240.00	73.9%	21.8%	70.4%	33.4%	79.7%	1.5%	1.0%	47.9M	-1.14B	-29.2M	0.23	41.92	330,501	75,386	765,918	477,714
2025-03-10	$179.33	$240.00	92.7%	30.8%	93.9%	78.4%	105.3%	16.1%	-2.9%	-18.5M	1.47B	-22.7M	0.69	31.82	157,319	109,342	714,398	444,751
2025-03-11	$192.88	$230.00	85.0%	27.0%	98.9%	59.9%	94.2%	11.9%	-1.9%	-9.0M	459.5M	-25.4M	0.43	32.95	155,976	66,738	745,710	453,555
2025-03-12	$190.88	$227.50	79.2%	24.7%	98.4%	46.0%	85.6%	9.2%	-0.6%	-12.0M	594.0M	-24.9M	0.75	30.08	68,825	51,503	775,410	465,754
2025-03-13	$178.25	$220.00	80.9%	25.3%	98.6%	50.1%	86.8%	8.4%	-1.6%	-34.0M	1.52B	-22.5M	0.71	29.63	136,251	97,401	789,368	473,587
2025-03-14	$183.36	$202.50	73.0%	21.0%	92.6%	34.2%	73.6%	7.3%	-1.0%	-18.5M	800.5M	-23.2M	0.33	23.15	254,473	83,082	816,658	462,155
2025-03-17	$190.57	$185.00	70.4%	20.8%	93.2%	27.5%	72.6%	4.6%	-2.8%	48.7M	-298.8M	-24.7M	0.68	12.48	61,289	41,573	745,725	428,904
2025-03-18	$181.57	$185.00	74.1%	21.4%	93.0%	37.1%	74.8%	5.9%	-2.6%	20.5M	587.2M	-22.9M	0.71	11.84	49,702	35,103	754,458	436,462
2025-03-19	$191.76	$185.00	69.4%	20.6%	96.6%	24.8%	71.8%	5.2%	-1.6%	65.6M	-547.3M	-24.4M	0.58	17.00	56,655	32,780	761,725	434,966
2025-03-20	$189.49	$185.00	65.4%	19.9%	96.6%	14.3%	70.8%	4.5%	-1.4%	63.7M	-130.8M	-23.5M	1.42	18.28	57,537	81,735	770,782	439,210
2025-03-21	$188.76	$185.00	64.6%	19.7%	92.6%	12.0%	68.9%	4.6%	-1.3%	16.7M	-147.2M	-23.3M	0.17	17.75	258,143	45,087	781,945	438,622
2025-03-24	$201.09	$185.00	62.1%	19.1%	95.9%	5.6%	67.7%	3.9%	5.0%	109.5M	-1.93B	-25.5M	0.30	19.89	148,473	44,482	609,288	348,496
2025-03-25	$202.21	$185.00	61.3%	19.1%	92.9%	3.3%	66.9%	2.6%	3.6%	139.5M	-2.13B	-25.8M	0.22	23.56	173,977	37,583	657,999	361,170
2025-03-26	$194.82	$185.00	63.8%	19.5%	93.8%	10.0%	68.5%	4.9%	1.7%	84.1M	-1.04B	-24.5M	0.42	26.59	65,410	27,341	683,410	371,575
2025-03-27	$190.44	$185.00	62.1%	19.2%	94.0%	5.6%	67.0%	5.0%	4.5%	53.9M	-480.3M	-23.5M	0.27	23.65	130,606	34,963	697,151	377,033
2025-03-28	$173.93	$185.00	69.4%	20.6%	98.4%	24.8%	72.5%	6.8%	3.6%	1.8M	605.3M	-21.1M	0.36	20.54	225,967	80,892	717,681	381,393
2025-03-31	$170.89	$185.00	73.5%	21.0%	97.9%	35.8%	73.8%	5.6%	-1.7%	21.0M	371.0M	-20.9M	0.80	17.73	58,087	46,344	639,909	361,441