CALF Options History — November 2025

In November 2025, CALF traded between $42.02 and $44.50. ATM implied volatility averaged 23.2%, placing in the 14.5% IV rank vs the trailing year. The 30-day expected move averaged 6.6%. IV traded above realized volatility by 7.1% (HV 20d: 16.0%). Max pain ranged from $41.00 to $42.00. Net GEX was positive for 19 of 19 trading days. Term structure was in contango for 6 of 19 days. Put/call ratio averaged 0.16.

Notable Days

2025-11-11: Highest Volume — 16 contracts
2025-11-25: Largest IV drop — 9.8% change
2025-11-18: Highest IV Rank — 21.0%
2025-11-18: Largest Expected Move — 7.5%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$43.42	$42.02	$44.50	$43.32	$44.50
Max Pain	$41.16	$41.00	$42.00	$42.00	$41.00
ATM IV	23.2%	19.4%	26.3%	21.4%	19.4%
Expected Move	6.6%	5.6%	7.5%	6.1%	5.6%
HV 20d	16.0%	12.9%	19.3%	18.6%	18.5%
HV 60d	15.6%	14.6%	16.6%	16.4%	16.3%
IV Rank	14.5%	6.1%	21.0%	11.0%	6.1%
IV Percentile	47.6%	8.3%	72.6%	31.0%	8.3%
Term Structure	-0.2%	-4.1%	3.6%	2.9%	3.6%
VWIV	16.7%	8.8%	21.6%	13.5%	19.4%
Skew 25d	3.8%	-0.2%	8.6%	-0.0%	5.9%
Skew 10d	5.7%	-2.3%	12.7%	-0.5%	-2.3%
Call IV 25d	17.4%	12.2%	21.1%	17.6%	14.4%
Put IV 25d	21.2%	16.9%	24.2%	17.6%	20.4%
Bid-Ask Spread %	126.70	117.11	139.66	133.64	134.64
Gamma HHI	0.32	0.22	0.39	0.35	0.22
Net GEX	30.9K	28.8K	33.7K	29.1K	28.8K
Net DEX	-670.6K	-806.5K	-584.5K	-638.0K	-806.5K
Net VEX	-1.3K	-1.5K	-998	-1.4K	-998
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.16	0.00	1.00	0.00	0.00
Total Volume	2.211	0	16	0	0
Total OI	254.789	239	270	239	268

Daily Data (19 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
2025-11-03	$43.32	$42.00	21.4%	6.1%	18.6%	11.0%	0.0%	-0.0%	2.9%	29.1K	-638.0K	-1.4K	0.00	133.64	N/A	N/A	0	0	234	5
2025-11-04	$42.75	$42.00	22.9%	6.6%	18.7%	14.2%	0.0%	0.9%	-1.0%	29.4K	-591.4K	-1.5K	0.00	139.66	N/A	N/A	0	0	234	5
2025-11-05	$43.28	$42.00	22.2%	6.4%	19.2%	12.6%	0.0%	-0.2%	1.3%	28.8K	-628.7K	-1.4K	0.00	134.49	N/A	N/A	0	0	234	5
2025-11-06	$43.04	$41.00	23.5%	6.7%	18.9%	15.5%	13.5%	4.4%	-1.4%	29.8K	-620.8K	-1.4K	0.00	118.21	N/A	N/A	3	0	234	5
2025-11-07	$43.33	$41.00	23.8%	6.9%	13.9%	16.2%	0.0%	2.6%	-0.6%	28.8K	-635.0K	-1.4K	0.00	121.14	N/A	N/A	0	1	235	5
2025-11-10	$43.66	$41.00	23.4%	6.4%	12.9%	15.2%	0.0%	8.6%	-1.3%	29.4K	-667.3K	-1.3K	0.00	125.02	N/A	N/A	0	0	235	6
2025-11-11	$44.11	$41.00	24.0%	6.3%	13.1%	16.5%	18.5%	1.8%	0.1%	29.1K	-700.5K	-1.3K	0.00	128.77	N/A	N/A	16	0	235	6
2025-11-12	$44.11	$41.00	22.1%	6.3%	13.1%	12.5%	8.8%	5.5%	-0.4%	31.8K	-751.3K	-1.3K	0.00	129.50	N/A	N/A	1	0	251	6
2025-11-13	$43.64	$41.00	22.9%	6.6%	13.0%	13.8%	12.9%	5.3%	-1.3%	32.6K	-699.9K	-1.4K	0.00	123.33	N/A	N/A	3	0	252	6
2025-11-14	$43.51	$41.00	23.5%	6.7%	13.0%	15.0%	0.0%	3.6%	-0.6%	32.4K	-685.6K	-1.4K	0.00	124.67	N/A	N/A	0	0	255	6
2025-11-17	$42.66	$41.00	24.2%	6.9%	14.7%	16.6%	20.0%	2.7%	-0.4%	32.0K	-635.4K	-1.4K	1.00	119.84	N/A	N/A	2	2	255	6
2025-11-18	$43.00	$41.00	26.3%	7.5%	14.2%	21.0%	0.0%	2.5%	-2.0%	32.2K	-627.3K	-1.4K	0.00	124.37	N/A	N/A	1	0	256	8
2025-11-19	$42.72	$41.00	24.6%	7.0%	14.4%	17.3%	0.0%	2.4%	-2.0%	33.5K	-613.0K	-1.4K	0.00	129.34	N/A	N/A	0	0	257	8
2025-11-20	$42.02	$41.00	24.8%	7.1%	14.6%	17.9%	18.7%	6.7%	-4.1%	31.8K	-584.5K	-1.4K	0.25	117.11	N/A	N/A	4	1	257	8
2025-11-21	$43.19	$41.00	24.9%	7.1%	18.0%	18.1%	21.6%	3.9%	-1.9%	33.7K	-650.8K	-1.4K	0.00	117.47	N/A	N/A	0	3	261	9
2025-11-24	$43.41	$41.00	24.3%	7.0%	18.1%	16.8%	0.0%	4.1%	-0.7%	30.5K	-666.0K	-1.3K	0.00	129.13	N/A	N/A	0	0	251	12
2025-11-25	$44.20	$41.00	21.9%	6.3%	19.3%	11.6%	19.4%	6.5%	3.3%	33.0K	-746.8K	-1.1K	0.00	126.32	N/A	N/A	5	0	251	12
2025-11-26	$44.48	$41.00	19.8%	5.7%	18.5%	7.0%	0.0%	5.1%	3.2%	29.6K	-792.7K	-1.0K	0.00	130.71	N/A	N/A	0	0	256	12
2025-11-28	$44.50	$41.00	19.4%	5.6%	18.5%	6.1%	0.0%	5.9%	3.6%	28.8K	-806.5K	-998	0.00	134.64	N/A	N/A	0	0	256	12