PAYO Options History — May 2025

In May 2025, PAYO traded between $5.99 and $7.51. ATM implied volatility averaged 70.6%, placing in the 33.8% IV rank vs the trailing year. The 30-day expected move averaged 17.2%. IV traded below realized volatility by 11.3% (HV 20d: 81.8%). Max pain ranged from $5.00 to $6.00. Net GEX was positive for 19 of 21 trading days. Term structure was in contango for 6 of 21 days. Put/call ratio averaged 0.43.

Notable Days

  • 2025-05-06: Highest Volume — 8,379 contracts
  • 2025-05-07: Largest IV drop — 36.0% change
  • 2025-05-02: Highest IV Rank — 66.6%
  • 2025-05-02: Largest Expected Move — 35.8%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$6.96$5.99$7.51$7.16$6.79
Max Pain$5.90$5.00$6.00$5.00$6.00
ATM IV70.6%43.0%124.8%111.5%55.0%
Expected Move17.2%10.1%35.8%32.0%15.8%
HV 20d81.8%67.6%92.7%84.0%82.0%
HV 60d76.3%68.3%81.2%68.5%72.9%
IV Rank33.8%17.1%66.6%58.6%24.3%
IV Percentile70.6%40.5%98.0%96.8%61.9%
Term Structure-6.2%-54.6%39.3%-40.4%-12.6%
VWIV58.6%34.5%120.3%115.4%57.8%
Skew 25d7.1%-19.5%63.0%38.0%13.0%
Skew 10d18.6%-27.0%79.6%59.9%15.1%
Call IV 25d49.2%35.6%86.1%86.1%39.7%
Put IV 25d56.2%29.0%124.4%124.1%52.7%
Bid-Ask Spread %111.08100.60129.97101.78111.97
Gamma HHI0.280.170.750.250.20
Net GEX77.8K-33.6K258.1K214.2K29.0K
Net DEX-9.2M-18.0M-1.1M-16.8M-1.1M
Net VEX-16.1K-22.7K-13.4K-20.9K-13.4K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.430.004.370.000.14
Total Volume649.14388,3792318
Total OI34,849.57112,82854,46445,88813,614

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2025-05-01$7.16$5.00111.5%32.0%84.0%58.6%115.4%38.0%-40.4%214.2K-16.8M-20.9K0.00101.78N/AN/A231042,0033,885
2025-05-02$7.25$5.00124.8%35.8%75.6%66.6%120.3%63.0%-54.6%201.5K-18.0M-22.7K0.00106.42N/AN/A169042,0073,885
2025-05-05$7.14$6.00116.4%23.0%68.3%61.5%0.0%2.5%-15.5%195.9K-17.6M-20.9K0.05118.30N/AN/A130742,1113,885
2025-05-06$7.16$6.00124.8%27.4%67.6%66.6%80.7%4.2%-29.9%196.3K-17.3M-19.5K1.77112.45N/AN/A3,0285,35142,0963,894
2025-05-07$5.99$6.0079.9%14.7%92.7%39.4%52.9%-10.5%39.3%258.1K-8.6M-15.2K4.37129.97N/AN/A19183542,3999,848
2025-05-08$6.33$6.0070.8%12.3%80.3%33.9%42.9%-1.2%21.3%204.3K-11.1M-15.2K0.00112.61N/AN/A440142,48710,637
2025-05-09$6.54$6.0068.9%11.5%76.7%32.8%42.5%-0.2%5.8%156.6K-12.6M-17.3K0.41116.31N/AN/A1114542,90810,538
2025-05-12$7.20$6.0078.4%14.7%83.4%38.5%51.2%16.5%5.1%7.2K-15.5M-14.3K0.06111.22N/AN/A5983442,89510,557
2025-05-13$7.51$6.0079.9%10.1%84.3%39.4%34.5%-11.7%18.2%-33.6K-17.6M-16.4K0.11105.95N/AN/A5696243,41710,561
2025-05-14$7.28$6.0052.7%15.1%85.1%22.9%52.7%18.2%-0.5%-9.8K-16.5M-15.9K0.01114.22N/AN/A441643,65210,580
2025-05-15$7.09$6.0043.0%12.3%85.9%17.1%44.7%11.6%25.6%11.8K-15.6M-14.8K0.04114.95N/AN/A50243,87110,586
2025-05-16$7.22$6.0054.6%15.6%86.0%24.1%50.5%12.9%-20.1%15.6K-15.9M-15.8K0.06111.29N/AN/A2671643,88010,584
2025-05-19$7.13$6.0054.7%15.7%84.7%24.1%52.4%3.1%-10.0%14.5K-1.3M-14.4K0.41101.53N/AN/A74308,9563,872
2025-05-20$7.16$6.0043.2%12.4%84.3%17.2%43.7%9.4%-2.0%15.6K-1.4M-14.3K0.28100.60N/AN/A1858,9853,894
2025-05-21$6.92$6.0046.8%13.4%84.3%19.4%46.9%10.9%-0.5%20.7K-1.2M-14.1K0.00106.35N/AN/A26318,9893,897
2025-05-22$6.89$6.0059.1%16.9%82.9%26.8%56.3%-7.3%-23.1%23.1K-1.2M-15.3K0.00114.70N/AN/A7309,2133,898
2025-05-23$6.83$6.0044.3%12.7%82.9%17.8%51.8%-19.5%-6.8%27.3K-1.2M-15.2K1.25110.64N/AN/A459,2063,898
2025-05-27$6.83$6.0053.7%15.4%82.9%23.5%55.9%-9.1%-0.7%23.5K-1.2M-14.6K0.00113.45N/AN/A45009,2103,898
2025-05-28$6.83$6.0060.3%17.3%82.5%27.5%60.4%-14.2%-17.7%33.3K-1.2M-14.9K0.01110.14N/AN/A7419,6533,898
2025-05-29$6.83$6.0060.0%17.2%82.4%27.3%0.0%18.5%-10.4%29.4K-1.1M-13.6K0.00107.87N/AN/A4209,6973,897
2025-05-30$6.79$6.0055.0%15.8%82.0%24.3%57.8%13.0%-12.6%29.0K-1.1M-13.4K0.14111.97N/AN/A719,7173,897