PAYO Options History — October 2025

In October 2025, PAYO traded between $5.74 and $6.21. ATM implied volatility averaged 62.0%, placing in the 24.9% IV rank vs the trailing year. The 30-day expected move averaged 18.4%. IV traded above realized volatility by 30.8% (HV 20d: 31.2%). Max pain ranged from $5.00 to $7.00. Net GEX was positive for 23 of 23 trading days. Term structure was in contango for 5 of 23 days. Put/call ratio averaged 0.09.

Notable Days

2025-10-01: Highest Volume — 11,739 contracts
2025-10-10: Largest IV spike — 106.1% change
2025-10-14: Highest IV Rank — 49.2%
2025-10-28: Largest Expected Move — 22.5%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$5.99	$5.74	$6.21	$6.06	$5.83
Max Pain	$5.26	$5.00	$7.00	$7.00	$5.00
ATM IV	62.0%	42.5%	100.1%	54.9%	73.6%
Expected Move	18.4%	14.1%	22.5%	15.8%	21.1%
HV 20d	31.2%	25.7%	34.6%	34.5%	29.5%
HV 60d	44.6%	33.7%	48.8%	48.8%	33.7%
IV Rank	24.9%	12.5%	49.2%	20.4%	32.3%
IV Percentile	61.3%	27.4%	92.9%	53.2%	80.6%
Term Structure	-2.5%	-25.0%	97.9%	7.2%	-9.1%
VWIV	56.2%	26.6%	79.7%	49.1%	49.0%
Skew 25d	8.0%	-18.4%	33.5%	8.3%	-18.4%
Skew 10d	20.9%	-14.0%	57.9%	2.2%	-12.0%
Call IV 25d	55.4%	39.3%	76.6%	49.4%	76.6%
Put IV 25d	63.5%	48.6%	82.6%	57.7%	58.2%
Bid-Ask Spread %	107.06	93.76	119.18	119.18	97.67
Gamma HHI	0.66	0.58	0.71	0.58	0.68
Net GEX	196.3K	117.9K	230.0K	117.9K	230.0K
Net DEX	-16.3M	-18.6M	-11.1M	-11.1M	-15.0M
Net VEX	-33.0K	-36.8K	-27.4K	-31.5K	-31.9K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.09	0.00	1.01	0.00	0.00
Total Volume	953.174	60	11,739	11,739	1,066
Total OI	43,835.087	32,619	44,788	32,619	44,379

Daily Data (23 trading days)

Date	Price	Max Pain	ATM IV	Exp Move	HV 20d	IV Rank	VWIV	Skew 25d	Term Str	GEX	DEX	VEX	P/C	Spread %	Call Wall	Put Wall	Call Vol	Put Vol	Call OI	Put OI
2025-10-01	$6.06	$7.00	54.9%	15.8%	34.5%	20.4%	49.1%	8.3%	7.2%	117.9K	-11.1M	-31.5K	0.00	119.18	N/A	N/A	11,733	6	29,243	3,376
2025-10-02	$6.08	$7.00	58.3%	16.7%	34.5%	22.6%	38.0%	6.1%	-12.9%	192.5K	-17.0M	-34.9K	0.00	115.29	N/A	N/A	210	0	40,344	3,381
2025-10-03	$6.14	$7.00	49.5%	14.2%	34.6%	16.9%	37.4%	18.9%	11.2%	198.7K	-17.5M	-34.8K	0.01	107.80	N/A	N/A	297	2	40,502	3,380
2025-10-06	$6.21	$5.00	63.3%	20.0%	34.1%	25.7%	57.6%	33.5%	-12.1%	188.4K	-17.7M	-34.3K	0.02	103.70	N/A	N/A	579	11	40,537	3,381
2025-10-07	$6.08	$5.00	43.4%	20.6%	34.3%	13.0%	50.5%	27.6%	-25.0%	193.9K	-17.0M	-35.7K	0.08	115.99	N/A	N/A	128	10	40,974	3,392
2025-10-08	$6.17	$5.00	42.5%	20.1%	31.4%	12.5%	46.5%	28.0%	-17.9%	195.8K	-17.6M	-34.6K	0.01	108.55	N/A	N/A	84	1	41,040	3,402
2025-10-09	$6.04	$5.00	43.5%	20.8%	30.7%	13.1%	49.5%	32.6%	-19.2%	186.5K	-16.6M	-36.8K	0.03	109.13	N/A	N/A	96	3	40,977	3,401
2025-10-10	$5.88	$5.00	89.6%	17.3%	31.2%	42.5%	68.3%	29.8%	-8.9%	200.5K	-15.9M	-35.5K	0.11	112.02	N/A	N/A	122	14	40,991	3,403
2025-10-13	$5.87	$5.00	49.1%	19.9%	31.1%	16.7%	74.5%	13.5%	-15.3%	209.0K	-15.6M	-35.2K	0.02	104.98	N/A	N/A	461	8	40,997	3,416
2025-10-14	$5.94	$5.00	100.1%	19.1%	31.3%	49.2%	66.9%	20.3%	-7.3%	208.7K	-16.0M	-35.9K	0.05	104.53	N/A	N/A	87	4	41,194	3,417
2025-10-15	$5.88	$5.00	71.2%	20.4%	28.7%	30.8%	66.4%	19.6%	-16.7%	197.5K	-15.5M	-36.4K	0.04	111.81	N/A	N/A	168	6	41,250	3,417
2025-10-16	$5.74	$5.00	58.1%	16.7%	29.1%	22.5%	26.6%	8.8%	97.9%	206.2K	-14.7M	-35.5K	0.00	113.74	N/A	N/A	1,841	0	41,235	3,417
2025-10-17	$5.80	$5.00	54.8%	15.7%	29.6%	20.3%	71.6%	-17.9%	7.7%	217.9K	-15.1M	-33.1K	0.43	113.94	N/A	N/A	234	100	40,513	3,410
2025-10-20	$5.96	$5.00	49.3%	14.1%	30.8%	16.8%	51.1%	-16.0%	-1.3%	194.6K	-16.6M	-31.4K	0.18	102.76	N/A	N/A	556	100	40,246	3,459
2025-10-21	$6.04	$5.00	62.7%	18.0%	31.4%	25.4%	69.8%	-17.1%	-4.6%	205.5K	-17.1M	-30.9K	0.00	95.67	N/A	N/A	1,299	6	40,599	3,559
2025-10-22	$5.99	$5.00	72.7%	20.8%	31.3%	31.7%	70.6%	13.4%	-10.5%	192.7K	-16.6M	-34.2K	1.01	113.71	N/A	N/A	115	116	40,978	3,565
2025-10-23	$6.04	$5.00	66.3%	19.0%	31.1%	27.7%	60.8%	-9.2%	-1.9%	199.8K	-17.1M	-30.7K	0.00	96.86	N/A	N/A	286	0	41,045	3,390
2025-10-24	$6.08	$5.00	56.7%	16.3%	31.2%	21.6%	77.0%	-17.6%	7.4%	182.7K	-17.9M	-27.4K	0.00	109.84	N/A	N/A	216	0	41,189	3,390
2025-10-27	$6.21	$5.00	62.4%	17.9%	32.2%	25.1%	47.9%	-3.4%	-8.2%	178.0K	-18.6M	-28.6K	0.00	93.76	N/A	N/A	71	0	41,367	3,390
2025-10-28	$6.12	$5.00	78.4%	22.5%	25.7%	35.3%	79.7%	14.6%	-14.1%	198.5K	-17.7M	-30.6K	0.15	105.90	N/A	N/A	52	8	41,398	3,390
2025-10-29	$5.87	$5.00	64.8%	18.6%	29.3%	26.7%	52.4%	4.7%	-2.5%	207.7K	-16.3M	-28.8K	0.00	102.02	N/A	N/A	259	1	40,995	3,388
2025-10-30	$5.78	$5.00	60.1%	17.2%	29.6%	23.7%	30.8%	4.9%	-2.0%	212.8K	-15.9M	-29.6K	0.00	103.44	N/A	N/A	1,567	0	41,101	3,389
2025-10-31	$5.83	$5.00	73.6%	21.1%	29.5%	32.3%	49.0%	-18.4%	-9.1%	230.0K	-15.0M	-31.9K	0.00	97.67	N/A	N/A	1,066	0	40,990	3,389