COIN Options History — September 2025

In September 2025, COIN traded between $299.53 and $344.06. ATM implied volatility averaged 54.9%, placing in the 10.1% IV rank vs the trailing year. The 30-day expected move averaged 15.5%. IV traded above realized volatility by 13.3% (HV 20d: 41.6%). Max pain ranged from $310.00 to $320.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 18 of 21 days. Put/call ratio averaged 0.39.

Notable Days

2025-09-18: Highest Volume — 579,115 contracts
2025-09-29: Largest IV spike — 7.6% change
2025-09-30: Highest IV Rank — 23.8%
2025-09-25: Largest Expected Move — 16.6%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$320.13	$299.53	$344.06	$305.00	$336.97
Max Pain	$311.90	$310.00	$320.00	$315.00	$310.00
ATM IV	54.9%	49.9%	61.8%	52.8%	61.8%
Expected Move	15.5%	14.5%	16.6%	15.1%	16.2%
HV 20d	41.6%	36.5%	48.4%	44.3%	48.4%
HV 60d	62.9%	54.3%	71.4%	71.3%	56.1%
IV Rank	10.1%	0.4%	23.8%	6.1%	23.8%
IV Percentile	12.1%	0.8%	29.4%	4.8%	29.4%
Term Structure	1.3%	-0.9%	5.0%	0.9%	0.3%
VWIV	56.4%	52.9%	61.1%	54.3%	58.5%
Skew 25d	-1.5%	-4.6%	1.9%	0.9%	-3.3%
Skew 10d	-3.0%	-9.2%	2.7%	1.7%	-8.7%
Call IV 25d	57.3%	50.8%	66.8%	54.5%	65.8%
Put IV 25d	55.8%	52.0%	62.5%	55.3%	62.5%
Bid-Ask Spread %	20.95	9.42	42.65	14.73	12.59
Gamma HHI	0.07	0.04	0.23	0.07	0.06
Net GEX	267.3M	24.8M	588.5M	178.1M	336.6M
Net DEX	-6.66B	-11.46B	-3.41B	-4.48B	-9.15B
Net VEX	-44.4M	-46.7M	-41.5M	-42.8M	-46.7M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.39	0.26	0.59	0.51	0.33
Total Volume	237,565.81	110,719	579,115	122,478	157,813
Total OI	1,285,485.571	1,145,392	1,414,695	1,242,187	1,225,763

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
2025-09-02	$305.00	$315.00	52.8%	15.1%	44.3%	6.1%	54.3%	0.9%	0.9%	178.1M	-4.48B	-42.8M	0.51	14.73	81,219	41,259	747,093	495,094
2025-09-03	$302.08	$315.00	52.3%	14.9%	39.2%	5.0%	53.3%	1.9%	0.4%	151.2M	-3.96B	-42.2M	0.43	9.42	77,674	33,045	766,057	506,214
2025-09-04	$306.47	$320.00	49.9%	14.5%	39.3%	0.4%	52.9%	1.4%	-0.1%	214.4M	-4.55B	-42.5M	0.54	22.18	118,651	63,492	781,531	513,551
2025-09-05	$299.53	$320.00	53.0%	15.1%	39.1%	6.4%	54.9%	1.7%	-0.4%	24.8M	-3.41B	-41.5M	0.32	24.19	315,857	99,630	803,552	523,041
2025-09-08	$303.97	$310.00	50.0%	14.6%	39.6%	0.5%	53.0%	1.2%	0.8%	223.6M	-4.59B	-42.0M	0.36	18.30	122,595	44,426	764,773	495,452
2025-09-09	$319.13	$310.00	52.7%	15.1%	41.3%	5.8%	54.5%	-0.3%	-0.9%	335.0M	-7.85B	-45.5M	0.38	18.32	176,980	67,461	791,188	507,889
2025-09-10	$314.93	$310.00	51.9%	14.9%	41.5%	4.2%	53.7%	0.5%	0.5%	351.2M	-6.82B	-44.7M	0.30	20.73	219,719	64,915	819,033	521,427
2025-09-11	$322.02	$310.00	51.2%	14.7%	41.8%	2.9%	53.0%	-0.0%	0.1%	468.2M	-8.34B	-45.1M	0.30	19.53	160,506	48,729	849,824	532,374
2025-09-12	$323.99	$310.00	52.7%	15.2%	41.8%	5.8%	55.4%	-0.9%	0.6%	588.5M	-8.90B	-45.5M	0.26	19.79	274,398	71,297	868,926	539,253
2025-09-15	$328.10	$310.00	54.5%	15.6%	41.5%	9.4%	56.3%	-2.2%	0.3%	286.3M	-7.94B	-45.6M	0.38	21.00	104,501	39,235	775,915	504,763
2025-09-16	$326.15	$320.00	54.3%	15.6%	41.5%	9.0%	57.6%	-2.0%	0.8%	285.4M	-7.42B	-44.6M	0.32	17.93	112,978	35,994	783,074	516,771
2025-09-17	$321.64	$310.00	54.4%	15.6%	36.5%	9.1%	56.8%	-1.6%	0.8%	252.2M	-6.52B	-43.9M	0.43	19.51	104,692	44,774	797,807	523,710
2025-09-18	$344.06	$310.00	57.1%	16.4%	43.0%	14.6%	59.3%	-4.6%	0.1%	490.8M	-11.46B	-46.5M	0.33	42.65	436,421	142,694	808,010	528,368
2025-09-19	$341.23	$310.00	56.2%	16.0%	42.8%	12.8%	57.7%	-4.3%	0.6%	540.3M	-9.99B	-46.2M	0.34	36.77	345,420	118,721	848,996	565,699
2025-09-22	$331.75	$310.00	57.1%	16.1%	39.0%	14.5%	59.1%	-4.2%	5.0%	183.2M	-6.86B	-45.4M	0.56	18.36	92,707	52,032	696,593	448,799
2025-09-23	$319.34	$310.00	57.6%	16.2%	39.4%	15.4%	59.4%	-3.6%	3.6%	99.7M	-5.09B	-44.1M	0.42	17.60	145,564	60,427	716,517	468,705
2025-09-24	$321.96	$310.00	56.2%	15.8%	39.4%	12.7%	58.9%	-2.7%	4.5%	149.6M	-5.56B	-44.4M	0.26	21.07	119,005	31,284	744,110	482,741
2025-09-25	$308.09	$310.00	59.0%	16.6%	42.5%	18.3%	61.1%	-1.5%	3.9%	70.8M	-3.83B	-43.4M	0.59	21.73	170,536	100,492	776,548	489,985
2025-09-26	$312.29	$310.00	56.6%	15.4%	42.8%	13.5%	56.9%	-2.5%	3.0%	115.0M	-4.58B	-44.0M	0.47	26.69	157,749	74,768	778,166	506,804
2025-09-29	$334.07	$310.00	60.9%	16.3%	48.4%	21.9%	58.9%	-4.6%	3.4%	267.8M	-8.55B	-46.1M	0.36	16.76	190,571	68,651	708,479	472,602
2025-09-30	$336.97	$310.00	61.8%	16.2%	48.4%	23.8%	58.5%	-3.3%	0.3%	336.6M	-9.15B	-46.7M	0.33	12.59	118,902	38,911	734,275	491,488