PAYO Options History — January 2025

In January 2025, PAYO traded between $9.86 and $10.86. ATM implied volatility averaged 38.7%, placing in the 20.9% IV rank vs the trailing year. The 30-day expected move averaged 10.2%. IV traded above realized volatility by 3.5% (HV 20d: 35.2%). Max pain ranged from $5.00 to $7.00. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 20 of 20 days. Put/call ratio averaged 0.04.

Notable Days

  • 2025-01-22: Highest Volume — 2,838 contracts
  • 2025-01-03: Largest IV spike — 85.3% change
  • 2025-01-13: Highest IV Rank — 43.3%
  • 2025-01-29: Largest Expected Move — 16.0%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$10.33$9.86$10.86$10.14$10.55
Max Pain$6.80$5.00$7.00$5.00$7.00
ATM IV38.7%22.9%64.4%25.8%33.3%
Expected Move10.2%6.6%16.0%7.4%9.5%
HV 20d35.2%28.5%42.4%41.3%36.3%
HV 60d49.7%47.6%51.2%47.6%51.2%
IV Rank20.9%7.0%43.3%9.6%16.1%
IV Percentile28.4%2.0%82.1%4.4%16.7%
Term Structure21.4%6.5%53.4%21.3%16.3%
VWIV35.1%24.4%49.1%49.1%36.2%
Skew 25d9.8%-3.0%35.9%25.9%-3.0%
Skew 10d12.7%-15.0%29.4%29.4%13.0%
Call IV 25d29.3%17.7%37.7%17.7%31.4%
Put IV 25d39.1%27.0%63.8%43.6%28.4%
Bid-Ask Spread %114.52104.97123.92107.73115.06
Gamma HHI0.330.210.560.310.38
Net GEX99.2K42.7K187.0K116.1K102.7K
Net DEX-12.3M-19.7M-4.3M-17.7M-6.3M
Net VEX-13.5K-19.2K-9.9K-12.2K-17.7K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.040.000.250.000.00
Total Volume334.45172,838429148
Total OI19,884.56,51829,02428,4979,913

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2025-01-02$10.14$5.0025.8%7.4%41.3%9.6%49.1%25.9%21.3%116.1K-17.7M-12.2K0.00107.73N/AN/A428121,9266,571
2025-01-03$10.47$5.0047.7%13.7%42.2%28.8%30.0%29.0%11.6%150.1K-18.6M-11.9K0.25105.86N/AN/A1634021,9766,571
2025-01-06$10.29$7.0032.3%10.2%42.4%15.2%28.3%9.7%17.4%121.7K-18.1M-9.9K0.02123.42N/AN/A326522,0706,582
2025-01-07$10.29$7.0036.2%10.6%41.7%18.7%0.0%3.4%17.2%134.5K-18.2M-10.8K0.01120.70N/AN/A129122,3436,586
2025-01-08$10.04$7.0044.6%9.3%30.7%26.0%31.7%14.6%19.6%115.6K-17.3M-11.4K0.19122.26N/AN/A36722,1926,586
2025-01-10$9.86$7.0038.6%8.7%31.3%20.8%30.5%4.1%26.6%90.1K-16.6M-10.2K0.06120.25N/AN/A16122,1836,593
2025-01-13$9.86$7.0064.4%12.7%28.6%43.3%44.3%3.3%8.3%95.5K-16.5M-10.2K0.00120.09N/AN/A61022,1826,594
2025-01-14$9.88$7.0062.2%10.8%28.5%41.4%32.8%3.4%13.6%88.6K-16.7M-11.3K0.16111.22N/AN/A1592622,1846,594
2025-01-15$10.43$7.0022.9%6.6%34.8%7.0%30.0%-2.7%31.8%146.9K-18.5M-10.3K0.00110.02N/AN/A143022,1916,619
2025-01-16$10.77$7.0036.8%10.5%36.3%19.2%40.7%-0.1%40.0%187.0K-19.7M-11.3K0.09117.17N/AN/A3052622,2616,619
2025-01-17$10.75$7.0026.4%7.6%36.1%10.1%27.0%7.6%16.2%45.8K-18.7M-10.8K0.01108.56N/AN/A378222,3856,639
2025-01-21$10.36$7.0042.4%12.1%35.0%24.1%39.2%6.0%23.7%42.7K-4.3M-10.5K0.01109.27N/AN/A35326,015503
2025-01-22$10.29$7.0031.0%8.9%34.3%14.1%24.4%3.6%15.7%47.5K-4.3M-10.9K0.01117.47N/AN/A2,806326,083504
2025-01-23$10.16$7.0032.8%9.4%34.4%15.7%35.5%1.4%16.3%65.3K-4.8M-18.9K0.03105.14N/AN/A3118,7991,441
2025-01-24$10.16$7.0027.6%7.9%33.6%11.2%35.7%5.7%53.4%75.5K-5.4M-17.7K0.00112.62N/AN/A6308,805532
2025-01-27$10.21$7.0044.2%12.7%33.5%25.7%41.3%27.4%26.9%77.1K-5.4M-17.5K0.01117.49N/AN/A11418,817532
2025-01-28$10.48$7.0030.7%8.8%34.4%13.8%34.9%-1.3%18.6%83.7K-5.8M-17.9K0.00123.92N/AN/A45208,922533
2025-01-29$10.66$7.0055.8%16.0%33.9%35.8%38.0%35.9%26.7%87.6K-6.1M-18.6K0.00117.28N/AN/A23009,286533
2025-01-30$10.86$7.0038.8%11.1%34.4%21.0%36.8%22.0%6.5%109.3K-6.5M-19.2K0.01104.97N/AN/A20219,492533
2025-01-31$10.55$7.0033.3%9.5%36.3%16.1%36.2%-3.0%16.3%102.7K-6.3M-17.7K0.00115.06N/AN/A14809,379534