PAYO Options History — February 2025

In February 2025, PAYO traded between $8.43 and $11.04. ATM implied volatility averaged 60.0%, placing in the 39.5% IV rank vs the trailing year. The 30-day expected move averaged 18.7%. IV traded above realized volatility by 20.6% (HV 20d: 39.4%). Max pain ranged from $7.00 to $10.00. Net GEX was positive for 19 of 19 trading days. Term structure was in contango for 3 of 19 days. Put/call ratio averaged 0.51.

Notable Days

  • 2025-02-24: Highest Volume — 8,328 contracts
  • 2025-02-12: Largest IV spike — 98.7% change
  • 2025-02-26: Highest IV Rank — 71.5%
  • 2025-02-26: Largest Expected Move — 27.7%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$10.23$8.43$11.04$10.61$8.43
Max Pain$8.79$7.00$10.00$7.00$10.00
ATM IV60.0%35.7%96.7%39.2%48.1%
Expected Move18.7%11.2%27.7%11.2%13.8%
HV 20d39.4%32.0%66.9%36.3%66.6%
HV 60d38.4%34.8%51.2%51.2%50.0%
IV Rank39.5%18.2%71.5%21.3%29.0%
IV Percentile63.5%21.0%96.4%28.2%51.6%
Term Structure-13.0%-39.6%30.1%30.1%-15.8%
VWIV61.1%38.4%94.0%38.4%38.5%
Skew 25d3.0%-24.4%16.8%4.2%-1.8%
Skew 10d5.4%-28.0%34.1%21.7%1.2%
Call IV 25d55.8%33.4%85.7%35.9%48.6%
Put IV 25d58.8%32.7%93.0%40.1%46.8%
Bid-Ask Spread %103.0389.84113.45111.50105.81
Gamma HHI0.470.310.610.360.39
Net GEX167.7K89.8K255.5K89.8K135.0K
Net DEX-6.9M-11.2M-2.8M-6.1M-3.0M
Net VEX-23.5K-35.6K-18.8K-18.8K-35.4K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.510.003.870.020.56
Total Volume1,666.6841438,3281,282297
Total OI14,709.4749,95826,3349,95825,525

Daily Data (19 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2025-02-03$10.61$7.0039.2%11.2%36.3%21.3%38.4%4.2%30.1%89.8K-6.1M-18.8K0.02111.50N/AN/A1,260229,424534
2025-02-04$10.82$7.0045.9%13.2%35.2%27.2%45.6%8.6%15.0%118.4K-6.8M-19.9K0.00108.29N/AN/A1,511210,406529
2025-02-05$11.04$7.0039.2%11.2%35.0%21.3%42.5%-15.8%22.1%187.0K-8.0M-21.3K0.02104.24N/AN/A1,0742511,515531
2025-02-06$10.79$9.0035.7%17.3%36.2%18.2%59.3%7.2%-1.0%188.1K-7.7M-22.0K0.04106.87N/AN/A137611,537553
2025-02-07$10.54$9.0037.5%17.5%36.1%19.8%59.5%1.0%-19.0%186.2K-7.1M-20.4K0.01105.68N/AN/A493311,533556
2025-02-10$10.52$9.0035.7%17.8%35.3%18.2%61.9%9.7%-9.7%194.7K-6.9M-20.3K0.01105.93N/AN/A403411,744558
2025-02-11$10.07$9.0041.6%18.5%39.1%23.4%60.4%12.6%-14.6%146.7K-6.1M-20.1K0.04105.38N/AN/A233912,049559
2025-02-12$10.09$9.0082.6%23.7%39.1%59.2%60.1%16.8%-39.6%145.0K-6.3M-20.0K0.03100.11N/AN/A155412,196557
2025-02-13$10.46$9.0082.2%23.6%36.2%58.9%66.7%-0.5%-27.7%174.2K-7.3M-21.2K0.12113.45N/AN/A2793312,314560
2025-02-14$10.52$9.0063.5%18.2%34.3%42.5%64.8%8.8%-19.4%201.6K-7.2M-21.1K0.0189.84N/AN/A9821012,537593
2025-02-18$10.68$9.0066.0%18.9%34.8%44.7%65.0%7.3%-20.0%242.2K-8.1M-21.4K0.1195.09N/AN/A3944213,283603
2025-02-19$10.68$9.0070.2%20.1%32.0%48.4%55.1%10.9%-28.2%255.5K-8.2M-22.0K0.1496.02N/AN/A4015613,391626
2025-02-20$10.43$9.0070.9%20.3%33.1%49.0%73.1%7.9%-13.1%154.3K-7.2M-21.5K0.22104.21N/AN/A1483213,650639
2025-02-21$9.89$9.0077.6%22.2%38.0%54.8%72.9%-8.6%-26.9%112.2K-6.2M-19.5K0.09110.35N/AN/A3803613,671642
2025-02-24$9.91$9.0075.9%21.8%38.0%53.3%78.0%3.6%-18.1%118.6K-4.4M-19.5K0.0099.55N/AN/A8,3161210,230573
2025-02-25$9.98$9.0082.2%23.6%38.1%58.8%79.8%1.9%-24.4%215.0K-10.3M-32.6K0.7196.16N/AN/A1,23087218,183584
2025-02-26$10.23$9.0096.7%27.7%38.0%71.5%94.0%7.2%-21.7%207.0K-11.2M-35.6K3.61100.23N/AN/A1,3014,69419,3181,443
2025-02-27$8.73$10.0049.3%14.1%66.9%30.1%45.4%-24.4%-14.5%115.2K-2.8M-33.9K3.8798.82N/AN/A1,3995,41220,4195,915
2025-02-28$8.43$10.0048.1%13.8%66.6%29.0%38.5%-1.8%-15.8%135.0K-3.0M-35.4K0.56105.81N/AN/A19010719,9675,558