COIN Options History — May 2025

In May 2025, COIN traded between $197.01 and $273.29. ATM implied volatility averaged 62.5%, placing in the 10.4% IV rank vs the trailing year. The 30-day expected move averaged 17.8%. IV traded below realized volatility by 25.1% (HV 20d: 87.5%). Max pain ranged from $185.00 to $210.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 10 of 21 days. Put/call ratio averaged 0.45.

Notable Days

2025-05-13: Highest Volume — 924,065 contracts
2025-05-13: Largest IV spike — 20.0% change
2025-05-13: Highest IV Rank — 26.5%
2025-05-01: Largest Expected Move — 20.5%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$237.77	$197.01	$273.29	$203.83	$246.09
Max Pain	$199.52	$185.00	$210.00	$185.00	$210.00
ATM IV	62.5%	54.9%	68.8%	66.2%	54.9%
Expected Move	17.8%	15.4%	20.5%	20.5%	15.4%
HV 20d	87.5%	48.1%	98.9%	93.5%	98.9%
HV 60d	92.7%	85.4%	98.7%	86.7%	95.7%
IV Rank	10.4%	0.0%	26.5%	15.2%	0.0%
IV Percentile	8.0%	0.0%	28.6%	15.5%	0.0%
Term Structure	-0.2%	-2.4%	1.8%	-0.6%	-0.3%
VWIV	64.0%	56.9%	74.2%	74.2%	56.9%
Skew 25d	-1.8%	-8.7%	2.6%	2.1%	-1.3%
Skew 10d	-2.7%	-15.9%	28.9%	2.5%	-1.9%
Call IV 25d	64.8%	57.2%	74.8%	66.4%	57.2%
Put IV 25d	62.9%	55.8%	68.5%	68.5%	55.8%
Bid-Ask Spread %	31.28	21.31	46.78	23.77	33.20
Gamma HHI	0.07	0.04	0.16	0.06	0.07
Net GEX	144.5M	249.1K	383.6M	86.7M	83.7M
Net DEX	-5.57B	-11.65B	-1.89B	-2.67B	-4.25B
Net VEX	-30.7M	-35.3M	-25.3M	-26.3M	-32.0M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.45	0.19	0.68	0.19	0.46
Total Volume	274,353.333	52,803	924,065	234,796	166,810
Total OI	1,161,384.571	1,051,138	1,389,250	1,075,356	1,243,426

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
2025-05-01	$203.83	$185.00	66.2%	20.5%	93.5%	15.2%	74.2%	2.1%	-0.6%	86.7M	-2.67B	-26.3M	0.19	23.77	197,090	37,706	688,673	386,683
2025-05-02	$203.88	$185.00	62.1%	19.0%	89.2%	5.2%	68.1%	1.0%	-0.3%	83.4M	-2.69B	-26.8M	0.23	22.78	188,884	43,152	733,707	397,811
2025-05-05	$201.22	$200.00	63.9%	18.1%	87.6%	9.7%	64.5%	1.6%	1.0%	72.0M	-2.37B	-26.2M	0.56	42.06	40,127	22,418	674,912	376,226
2025-05-06	$198.07	$200.00	65.3%	18.4%	86.2%	13.1%	65.4%	2.6%	-0.3%	61.3M	-2.04B	-25.8M	0.60	24.98	32,909	19,894	683,672	385,164
2025-05-07	$197.01	$200.00	67.8%	18.6%	82.7%	19.3%	65.1%	2.5%	1.8%	57.7M	-1.89B	-25.3M	0.57	46.78	36,258	20,763	688,105	390,268
2025-05-08	$208.13	$200.00	65.1%	18.1%	53.5%	12.6%	64.0%	0.3%	-0.8%	100.9M	-3.18B	-26.4M	0.47	28.31	192,076	89,605	696,833	396,454
2025-05-09	$200.19	$200.00	59.7%	17.1%	49.3%	0.0%	61.8%	-0.2%	0.7%	249.1K	-2.09B	-25.6M	0.24	43.60	434,657	105,342	745,518	423,814
2025-05-12	$206.49	$200.00	57.3%	16.2%	48.1%	0.0%	59.5%	-0.6%	-1.4%	131.5M	-3.23B	-26.3M	0.44	37.03	123,328	54,583	722,702	382,722
2025-05-13	$258.87	$200.00	68.8%	19.0%	91.1%	26.5%	67.3%	-8.7%	-2.4%	129.1M	-10.48B	-31.6M	0.30	26.73	710,352	213,713	738,577	392,071
2025-05-14	$262.32	$200.00	65.1%	18.3%	90.0%	18.0%	64.0%	-7.6%	-1.2%	291.2M	-11.04B	-33.8M	0.41	26.81	223,069	91,209	857,552	453,922
2025-05-15	$243.20	$200.00	63.8%	17.9%	95.3%	15.2%	65.5%	-2.4%	-1.5%	194.5M	-7.04B	-32.5M	0.68	46.58	296,472	202,010	887,465	470,051
2025-05-16	$263.77	$200.00	64.5%	18.1%	97.9%	16.6%	65.7%	-6.7%	-1.8%	383.6M	-11.65B	-34.6M	0.47	35.89	471,198	221,763	896,244	493,006
2025-05-19	$264.72	$200.00	64.3%	18.3%	97.8%	16.2%	66.5%	-5.0%	0.1%	159.7M	-7.02B	-35.2M	0.55	24.60	89,401	49,542	678,725	421,587
2025-05-20	$261.51	$200.00	61.2%	17.5%	95.4%	9.2%	64.0%	-3.4%	0.6%	163.1M	-6.57B	-34.5M	0.60	23.39	79,907	48,259	698,490	431,156
2025-05-21	$260.75	$200.00	62.1%	17.8%	95.5%	11.1%	64.2%	-2.6%	0.2%	165.2M	-6.43B	-34.4M	0.42	32.75	138,025	58,148	713,624	442,243
2025-05-22	$273.29	$200.00	62.3%	17.8%	95.8%	11.5%	64.2%	-2.7%	0.8%	256.4M	-8.48B	-35.3M	0.34	27.06	222,319	74,590	729,145	448,064
2025-05-23	$265.32	$200.00	61.5%	17.6%	97.1%	9.7%	62.9%	-1.8%	0.5%	265.9M	-6.91B	-34.9M	0.45	32.73	191,185	85,273	757,104	466,099
2025-05-27	$267.46	$200.00	60.4%	17.2%	96.5%	7.3%	61.8%	-2.1%	-0.7%	172.7M	-6.89B	-33.8M	0.52	28.80	68,810	35,894	691,563	413,047
2025-05-28	$257.88	$200.00	58.0%	16.4%	98.1%	1.7%	59.2%	-1.8%	1.6%	110.4M	-5.53B	-32.4M	0.56	27.69	93,170	51,868	703,796	423,311
2025-05-29	$249.15	$210.00	57.3%	16.0%	98.6%	0.0%	59.1%	-1.6%	0.5%	64.7M	-4.47B	-31.8M	0.38	21.31	174,137	65,504	725,169	440,375
2025-05-30	$246.09	$210.00	54.9%	15.4%	98.9%	0.0%	56.9%	-1.3%	-0.3%	83.7M	-4.25B	-32.0M	0.46	33.20	114,104	52,706	786,512	456,914