PAYO Options History — August 2025

In August 2025, PAYO traded between $6.25 and $7.45. ATM implied volatility averaged 56.9%, placing in the 25.5% IV rank vs the trailing year. The 30-day expected move averaged 15.0%. IV traded below realized volatility by 4.9% (HV 20d: 61.8%). Max pain ranged from $7.00 to $7.00. Net GEX was positive for 10 of 21 trading days. Term structure was in contango for 11 of 21 days. Put/call ratio averaged 0.12.

Notable Days

  • 2025-08-07: Highest Volume — 9,878 contracts
  • 2025-08-06: Largest IV drop — 43.6% change
  • 2025-08-05: Highest IV Rank — 60.3%
  • 2025-08-01: Largest Expected Move — 32.6%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$6.77$6.25$7.45$6.25$6.96
Max Pain$7.00$7.00$7.00$7.00$7.00
ATM IV56.9%34.5%114.4%113.8%55.0%
Expected Move15.0%9.9%32.6%32.6%15.8%
HV 20d61.8%44.0%68.6%46.0%63.8%
HV 60d48.4%42.6%57.1%57.1%49.3%
IV Rank25.5%11.9%60.3%59.9%24.3%
IV Percentile51.8%15.9%96.0%95.6%57.5%
Term Structure0.9%-66.9%82.5%-37.3%-11.8%
VWIV51.3%36.2%87.2%87.2%55.0%
Skew 25d-5.0%-27.5%17.3%-12.4%-2.2%
Skew 10d-4.2%-43.4%56.8%-43.4%-1.7%
Call IV 25d50.3%27.2%98.2%98.2%45.1%
Put IV 25d45.4%24.7%85.8%85.8%42.9%
Bid-Ask Spread %114.5694.37141.88111.43104.87
Gamma HHI0.550.330.780.500.56
Net GEX54.3K-43.0K367.6K75.8K-33.2K
Net DEX-3.7M-14.3M-185.3K-636.0K-488.2K
Net VEX-12.0K-20.5K-9.0K-16.7K-10.0K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.120.001.000.020.03
Total Volume604.66759,87815033
Total OI20,676.47610,19437,42525,42610,274

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2025-08-01$6.25$7.00113.8%32.6%46.0%59.9%87.2%-12.4%-37.3%75.8K-636.0K-16.7K0.02111.43N/AN/A147318,1297,297
2025-08-04$6.38$7.00104.4%17.8%44.0%54.3%69.0%8.3%18.0%89.2K-1.2M-16.0K0.00113.64N/AN/A462218,1447,300
2025-08-05$6.50$7.00114.4%16.4%44.2%60.3%64.8%8.1%5.2%231.7K-6.7M-20.5K0.06110.92N/AN/A6053529,6097,302
2025-08-06$7.45$7.0064.5%29.2%65.9%30.1%75.1%17.3%-66.9%217.8K-14.3M-14.7K0.13141.88N/AN/A5877930,0887,337
2025-08-07$7.12$7.0046.3%18.4%68.2%19.1%0.0%9.1%-45.2%367.6K-12.0M-16.4K0.00129.56N/AN/A9,876229,9447,312
2025-08-08$6.71$7.0057.7%12.6%68.6%26.0%43.9%-2.3%35.2%149.8K-6.2M-13.1K0.03128.74N/AN/A90320,9877,310
2025-08-11$6.63$7.0055.6%11.1%63.8%24.7%0.0%-6.3%12.7%142.7K-6.1M-12.6K0.01118.36N/AN/A67121,0067,287
2025-08-12$6.79$7.0057.6%11.0%62.8%25.9%37.8%5.9%45.8%59.0K-7.3M-12.0K0.50110.84N/AN/A522621,0287,123
2025-08-13$6.83$7.0046.1%13.2%62.4%18.9%0.0%-4.0%-0.5%58.7K-7.2M-11.3K0.14131.13N/AN/A901321,0327,081
2025-08-14$6.71$7.0034.5%9.9%62.5%11.9%38.5%1.3%82.5%102.4K-6.7M-11.2K0.00116.57N/AN/A30021,0897,093
2025-08-15$6.72$7.0040.5%11.6%62.2%15.6%40.6%0.0%9.4%-25.9K-6.6M-10.0K1.00109.80N/AN/A585821,0617,093
2025-08-18$6.87$7.0036.2%10.4%62.7%12.9%36.2%8.4%5.0%-19.8K-305.9K-9.0K0.0294.37N/AN/A8125,3284,866
2025-08-19$6.72$7.0049.5%14.2%63.2%21.0%49.3%-27.5%14.6%-34.1K-375.8K-10.2K0.00113.89N/AN/A3105,3784,866
2025-08-20$6.64$7.0049.0%14.1%63.3%20.7%49.0%-22.4%-10.6%-37.4K-250.6K-10.4K0.03111.04N/AN/A3015,3964,866
2025-08-21$6.66$7.0046.3%13.3%63.2%19.1%0.0%-21.9%-8.1%-36.3K-185.3K-10.7K0.00111.72N/AN/A505,4204,867
2025-08-22$7.00$7.0048.5%13.9%65.4%20.4%47.5%-3.8%-12.3%-29.8K-486.4K-9.8K0.13107.74N/AN/A80105,4214,867
2025-08-25$6.75$7.0039.9%11.4%66.6%15.2%40.5%-22.1%1.7%-26.1K-356.7K-9.0K0.00110.55N/AN/A1705,3844,867
2025-08-26$6.75$7.0044.4%12.7%66.4%17.9%45.9%-18.2%-9.5%-39.3K-311.2K-10.0K0.02113.94N/AN/A6415,3884,867
2025-08-27$6.79$7.0047.0%13.5%66.4%19.5%47.0%-20.5%-11.3%-43.0K-373.9K-9.2K0.00108.94N/AN/A3905,3684,868
2025-08-28$6.89$7.0044.4%12.7%66.4%17.9%44.4%0.8%1.7%-30.1K-513.1K-9.1K0.29105.81N/AN/A1445,3954,868
2025-08-29$6.96$7.0055.0%15.8%63.8%24.3%55.0%-2.2%-11.8%-33.2K-488.2K-10.0K0.03104.87N/AN/A3215,4024,872