NBIS Options History — May 2025

In May 2025, NBIS traded between $23.91 and $39.74. ATM implied volatility averaged 90.3%, placing in the 15.6% IV rank vs the trailing year. The 30-day expected move averaged 25.1%. IV traded above realized volatility by 2.4% (HV 20d: 87.9%). Max pain ranged from $23.00 to $30.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 6 of 21 days. Put/call ratio averaged 0.28.

Notable Days

  • 2025-05-20: Highest Volume — 158,446 contracts
  • 2025-05-20: Largest IV drop — 11.8% change
  • 2025-05-28: Highest IV Rank — 21.5%
  • 2025-05-19: Largest Expected Move — 28.4%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$33.68$23.91$39.74$24.38$36.99
Max Pain$26.57$23.00$30.00$26.00$30.00
ATM IV90.3%74.6%100.3%85.7%74.6%
Expected Move25.1%21.4%28.4%23.2%21.4%
HV 20d87.9%70.1%108.7%108.7%81.9%
HV 60d113.6%106.3%119.1%114.8%106.4%
IV Rank15.6%3.5%21.5%21.0%3.5%
IV Percentile2.7%0.8%5.5%3.2%0.8%
Term Structure-2.2%-14.4%5.2%-0.2%-3.2%
VWIV88.0%75.4%99.7%80.0%75.4%
Skew 25d-4.4%-35.4%24.1%8.3%-3.1%
Skew 10d-7.9%-40.7%33.5%7.2%-3.2%
Call IV 25d90.1%76.4%105.9%82.1%77.2%
Put IV 25d85.8%52.5%101.3%90.4%74.1%
Bid-Ask Spread %25.2114.0038.5128.2038.51
Gamma HHI0.100.070.290.080.08
Net GEX6.4M2.5M10.9M3.7M3.4M
Net DEX-363.2M-619.8M-71.6M-96.5M-341.8M
Net VEX-1.7M-2.1M-1.0M-1.1M-2.0M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.280.170.510.240.51
Total Volume49,599.04815,031158,44634,88627,804
Total OI370,636.429292,645445,080385,558336,304

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2025-05-01$24.38$26.0085.7%23.2%108.7%0.0%80.0%8.3%-0.2%3.7M-96.5M-1.1M0.2428.20N/AN/A28,2346,652276,245109,313
2025-05-02$25.19$26.0087.6%23.2%99.0%0.0%79.8%6.7%-0.9%7.0M-136.6M-1.1M0.1930.48N/AN/A21,5354,103282,733108,082
2025-05-05$23.91$24.0095.6%24.4%98.3%0.0%83.0%-32.4%-1.9%2.5M-71.6M-1.0M0.4821.77N/AN/A10,1864,845265,239103,380
2025-05-06$24.90$24.0085.5%25.1%98.9%0.0%87.2%5.5%-2.2%3.3M-102.8M-1.1M0.1721.18N/AN/A20,3593,439269,217106,034
2025-05-07$27.41$23.0093.2%25.8%101.1%0.0%88.8%-35.4%2.2%5.3M-193.9M-1.3M0.1725.93N/AN/A38,8116,546277,196107,348
2025-05-08$28.38$25.0093.6%25.5%84.7%0.0%88.5%3.5%-0.8%6.0M-233.7M-1.3M0.2414.00N/AN/A20,8724,959282,864108,899
2025-05-09$28.27$25.0092.1%25.3%70.1%0.0%88.3%-26.7%1.7%6.0M-231.7M-1.3M0.2214.46N/AN/A23,2555,129286,215110,396
2025-05-12$33.14$25.0094.7%25.9%86.5%0.0%91.9%4.7%-4.9%6.9M-388.2M-1.5M0.1826.39N/AN/A91,13616,036277,710107,043
2025-05-13$35.73$25.0096.9%26.2%86.0%0.0%92.5%-13.0%-5.1%9.1M-519.7M-1.7M0.2218.37N/AN/A48,63910,603295,934112,543
2025-05-14$35.90$25.00100.3%27.3%86.3%0.0%96.0%24.1%-6.0%9.4M-538.4M-1.8M0.2923.97N/AN/A52,69715,265306,587115,987
2025-05-15$35.83$25.0099.8%27.2%85.2%0.0%95.7%-0.5%-6.1%10.9M-518.9M-1.8M0.2323.23N/AN/A35,6018,314315,755124,094
2025-05-16$37.47$25.0095.9%26.6%85.5%0.0%93.7%-29.4%-6.2%9.0M-619.8M-1.9M0.2416.95N/AN/A52,50712,663317,345127,735
2025-05-19$36.95$25.0099.8%28.4%82.8%0.0%99.7%-5.9%-5.9%5.2M-412.8M-1.9M0.3832.09N/AN/A47,41817,814226,53066,115
2025-05-20$39.74$25.0088.0%25.1%83.9%0.0%88.5%-3.7%2.8%8.4M-545.0M-2.1M0.2425.26N/AN/A127,58830,858255,40878,415
2025-05-21$39.13$30.0089.9%25.8%85.0%0.0%92.5%-6.2%0.2%7.6M-497.1M-2.1M0.2728.33N/AN/A63,76316,934261,61788,113
2025-05-22$37.98$30.0086.9%24.9%85.9%0.0%87.4%-5.0%-1.0%5.4M-427.4M-2.0M0.1926.29N/AN/A27,7985,280262,81295,471
2025-05-23$38.73$30.0085.6%24.6%85.2%21.0%87.7%-3.4%-1.7%5.7M-459.6M-2.1M0.3332.90N/AN/A29,9229,911264,69096,314
2025-05-27$39.66$30.0084.0%24.1%84.6%18.5%84.9%0.4%1.7%6.3M-454.5M-2.1M0.4022.27N/AN/A25,70210,316232,81475,105
2025-05-28$39.69$30.0085.9%23.9%84.0%21.5%85.1%22.3%-14.4%7.1M-455.7M-2.1M0.2623.62N/AN/A17,3784,509241,69880,734
2025-05-29$37.81$30.0080.9%22.8%82.9%13.5%81.7%-2.4%5.2%5.3M-381.9M-2.0M0.3835.15N/AN/A26,2649,935244,68682,645
2025-05-30$36.99$30.0074.6%21.4%81.9%3.5%75.4%-3.1%-3.2%3.4M-341.8M-2.0M0.5138.51N/AN/A18,4359,369249,60886,696