PAYO Options History — April 2025

In April 2025, PAYO traded between $5.80 and $7.51. ATM implied volatility averaged 108.3%, placing in the 62.1% IV rank vs the trailing year. The 30-day expected move averaged 29.3%. IV traded above realized volatility by 32.1% (HV 20d: 76.2%). Max pain ranged from $5.00 to $8.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 5 of 21 days. Put/call ratio averaged 4.37.

Notable Days

  • 2025-04-11: Highest Volume — 16,579 contracts
  • 2025-04-03: Largest IV spike — 69.6% change
  • 2025-04-04: Highest IV Rank — 100.0%
  • 2025-04-21: Largest Expected Move — 43.5%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$6.59$5.80$7.51$7.45$7.01
Max Pain$6.29$5.00$8.00$8.00$5.00
ATM IV108.3%47.3%179.9%47.3%142.4%
Expected Move29.3%17.5%43.5%17.5%40.8%
HV 20d76.2%52.2%85.1%54.7%83.6%
HV 60d64.7%53.5%68.7%54.0%68.5%
IV Rank62.1%34.5%100.0%34.5%77.3%
IV Percentile93.4%50.0%100.0%50.0%98.8%
Term Structure-26.1%-92.1%11.5%8.5%-36.2%
VWIV89.0%68.0%115.3%75.7%115.3%
Skew 25d18.5%-28.9%62.7%-15.4%13.2%
Skew 10d44.3%3.4%104.8%3.4%35.7%
Call IV 25d78.5%53.7%102.2%63.3%98.0%
Put IV 25d97.0%47.9%120.9%47.9%111.2%
Bid-Ask Spread %109.8599.51128.12102.11108.61
Gamma HHI0.390.250.500.470.28
Net GEX119.9K40.9K255.8K88.6K255.8K
Net DEX-6.7M-16.4M653.8K-919.2K-16.4M
Net VEX-21.4K-25.2K-16.5K-25.1K-20.2K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio4.370.0034.450.050.08
Total Volume1,410.429016,5792355
Total OI33,766.71423,13945,86623,14345,866

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2025-04-01$7.45$8.0047.3%17.5%54.7%34.5%75.7%-15.4%8.5%88.6K-919.2K-25.1K0.05102.11N/AN/A22117,5055,638
2025-04-02$7.51$8.0060.0%22.0%52.2%48.0%68.0%-9.1%11.5%91.2K-991.7K-24.3K0.0199.51N/AN/A107117,5025,637
2025-04-03$6.79$8.00101.7%20.4%57.9%92.3%74.7%-4.0%2.2%61.0K-105.1K-21.1K1.62111.13N/AN/A132117,6075,639
2025-04-04$6.23$8.00114.7%27.1%63.1%100.0%85.6%8.7%0.9%53.1K309.5K-18.2K0.11128.12N/AN/A1441617,6015,653
2025-04-07$6.11$8.00179.9%34.9%60.3%100.0%80.0%-28.9%-51.1%43.2K-558.1K-20.1K1.22125.63N/AN/A556717,5925,654
2025-04-08$5.80$8.00172.3%35.3%61.9%95.4%80.3%62.7%-34.4%45.4K-471.6K-18.9K0.25115.57N/AN/A8217,5935,701
2025-04-09$6.66$8.00116.7%33.5%81.0%61.7%95.9%39.2%-40.6%52.7K-152.6K-19.5K0.27113.90N/AN/A33917,5915,701
2025-04-10$6.19$8.00134.9%38.7%84.5%72.7%0.0%21.8%-63.8%40.9K653.8K-16.5K0.00123.37N/AN/A0017,5915,702
2025-04-11$6.33$8.0086.5%24.8%85.1%43.4%104.8%39.7%-11.0%48.6K224.5K-18.0K0.00110.25N/AN/A16,5285117,5915,699
2025-04-14$6.45$5.0089.6%25.7%85.0%45.3%85.8%17.1%-19.6%131.2K-8.8M-22.6K0.08117.53N/AN/A12134,1245,749
2025-04-15$6.37$5.00107.5%30.8%85.0%56.1%0.0%8.0%-41.4%134.3K-8.3M-24.5K0.00112.67N/AN/A1034,1215,750
2025-04-16$6.36$5.0084.8%24.3%82.1%42.4%74.8%14.4%8.0%129.5K-8.1M-20.6K30.19109.41N/AN/A1648334,1225,735
2025-04-17$6.37$5.0094.9%27.2%82.1%48.5%82.8%20.7%-14.5%136.9K-7.9M-21.2K1.08107.66N/AN/A616634,1225,847
2025-04-21$6.13$5.00151.8%43.5%82.7%83.0%68.3%46.5%-92.1%126.6K-9.1M-25.2K10.11102.36N/AN/A99133,4773,836
2025-04-22$6.31$5.0084.4%24.2%80.4%42.1%88.1%16.4%-0.2%129.0K-8.9M-18.2K0.02110.03N/AN/A117233,4733,836
2025-04-23$6.59$5.0092.8%26.6%82.7%47.2%99.4%18.4%-15.2%131.9K-10.0M-20.7K0.00101.47N/AN/A10,4422733,5373,836
2025-04-24$6.88$5.0099.5%28.5%84.1%51.3%105.9%36.1%-34.5%196.5K-15.0M-24.6K0.0499.83N/AN/A231941,6203,863
2025-04-25$6.92$5.0099.8%28.6%84.2%51.5%94.9%24.7%-39.1%202.1K-15.2M-24.2K7.68102.20N/AN/A2519241,7903,870
2025-04-28$6.92$5.0099.5%28.5%83.5%51.3%99.2%19.7%-34.5%206.1K-15.5M-23.1K34.45103.78N/AN/A1137941,7893,879
2025-04-29$7.08$5.00114.0%32.7%83.9%60.1%111.7%38.4%-49.8%213.2K-15.9M-22.6K0.10101.71N/AN/A2832841,7833,879
2025-04-30$7.01$5.00142.4%40.8%83.6%77.3%115.3%13.2%-36.2%255.8K-16.4M-20.2K0.08108.61N/AN/A51441,9853,881