CBL Options History — August 2018

In August 2018, CBL traded between $4.30 and $5.57. ATM implied volatility averaged 50.2%, placing in the 34.8% IV rank vs the trailing year. The 30-day expected move averaged 13.6%. IV traded below realized volatility by 13.2% (HV 20d: 63.4%). Max pain ranged from $6.00 to $6.00. Net GEX was positive for 0 of 23 trading days. Term structure was in contango for 13 of 23 days. Put/call ratio averaged 3.08.

Notable Days

2018-08-02: Highest Volume — 29,185 contracts
2018-08-14: Largest IV spike — 70.7% change
2018-08-14: Highest IV Rank — 92.6%
2018-08-01: Largest Expected Move — 17.0%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$4.60	$4.30	$5.57	$5.57	$4.44
Max Pain	$6.00	$6.00	$6.00	$6.00	$6.00
ATM IV	50.2%	37.3%	95.7%	59.4%	37.3%
Expected Move	13.6%	10.7%	17.0%	17.0%	10.7%
HV 20d	63.4%	32.9%	69.3%	32.9%	53.4%
HV 60d	51.6%	40.4%	54.1%	40.4%	49.6%
IV Rank	34.8%	18.3%	92.6%	46.5%	18.3%
IV Percentile	58.2%	21.0%	99.6%	88.1%	21.0%
Term Structure	-0.3%	-11.8%	7.0%	-11.8%	3.2%
VWIV	48.3%	34.9%	70.5%	70.5%	34.9%
Skew 25d	9.4%	-15.9%	22.4%	11.8%	2.1%
Skew 10d	34.6%	-24.6%	74.0%	24.8%	5.3%
Call IV 25d	45.6%	31.4%	60.8%	60.3%	31.4%
Put IV 25d	55.0%	33.5%	73.8%	72.1%	33.5%
Bid-Ask Spread %	18.74	9.35	72.55	17.75	14.28
Gamma HHI	0.37	0.31	0.49	0.48	0.39
Net GEX	-252.0K	-423.2K	-152.0K	-330.6K	-257.9K
Net DEX	17.9M	7.0M	20.6M	7.0M	19.7M
Net VEX	-40.6K	-58.7K	-32.2K	-49.6K	-32.2K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	3.08	0.16	12.60	8.18	0.49
Total Volume	5,993.913	1,371	29,185	3,689	1,933
Total OI	110,704.957	94,191	117,825	94,191	115,029

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
2018-08-01	$5.57	$6.00	59.4%	17.0%	32.9%	46.5%	70.5%	11.8%	-11.8%	-330.6K	7.0M	-49.6K	8.18	17.75	N/A	N/A	402	3,287	27,141	67,050
2018-08-02	$5.01	$6.00	43.2%	12.4%	49.4%	25.9%	46.4%	-15.9%	0.6%	-290.2K	13.5M	-39.8K	10.72	12.97	N/A	N/A	2,490	26,695	27,344	68,172
2018-08-03	$5.23	$6.00	38.1%	10.9%	52.1%	19.4%	38.1%	3.3%	2.1%	-423.2K	12.4M	-58.7K	11.53	9.35	N/A	N/A	1,711	19,728	27,733	75,039
2018-08-06	$4.68	$6.00	55.4%	12.6%	64.2%	41.3%	44.9%	0.5%	3.2%	-265.4K	17.4M	-44.6K	7.39	11.93	N/A	N/A	2,298	16,984	27,951	75,109
2018-08-07	$4.42	$6.00	55.2%	15.9%	66.3%	41.1%	53.3%	19.6%	0.3%	-165.9K	19.2M	-33.3K	2.29	11.66	N/A	N/A	1,862	4,265	28,103	75,204
2018-08-08	$4.46	$6.00	43.4%	17.0%	66.7%	26.1%	58.8%	19.6%	-5.8%	-152.0K	19.3M	-37.3K	5.36	26.20	N/A	N/A	1,667	8,937	28,893	77,613
2018-08-09	$4.43	$6.00	48.3%	16.6%	66.7%	32.4%	54.9%	20.8%	-5.8%	-207.5K	20.4M	-38.7K	1.06	14.18	N/A	N/A	1,047	1,115	29,142	85,354
2018-08-10	$4.43	$6.00	79.5%	16.4%	66.7%	72.0%	50.1%	17.4%	-5.6%	-245.7K	20.0M	-40.3K	0.40	20.08	N/A	N/A	1,258	505	29,167	85,499
2018-08-13	$4.30	$6.00	56.1%	15.4%	66.1%	42.2%	50.6%	22.4%	1.0%	-181.9K	20.6M	-35.1K	0.85	12.51	N/A	N/A	970	822	29,698	85,463
2018-08-14	$4.51	$6.00	95.7%	13.1%	69.3%	92.6%	48.2%	12.2%	0.1%	-187.1K	20.0M	-40.1K	0.76	20.51	N/A	N/A	858	650	29,970	85,395
2018-08-15	$4.53	$6.00	49.4%	14.2%	69.0%	33.8%	53.8%	8.5%	-3.1%	-189.0K	19.7M	-40.3K	0.92	15.08	N/A	N/A	715	656	30,088	85,306
2018-08-16	$4.47	$6.00	56.1%	16.1%	67.2%	42.2%	54.6%	9.6%	-3.0%	-183.1K	20.2M	-37.9K	5.74	14.91	N/A	N/A	668	3,833	30,208	85,067
2018-08-17	$4.60	$6.00	45.5%	13.0%	68.5%	28.8%	45.6%	15.2%	1.8%	-207.1K	19.4M	-42.0K	12.60	20.99	N/A	N/A	1,028	12,955	30,352	87,473
2018-08-20	$4.67	$6.00	46.5%	13.3%	68.7%	30.0%	47.3%	12.8%	-3.5%	-290.9K	16.6M	-49.8K	0.16	13.95	N/A	N/A	2,841	452	27,327	85,469
2018-08-21	$4.66	$6.00	45.7%	13.1%	68.6%	29.0%	45.0%	8.5%	-0.1%	-295.1K	16.9M	-47.1K	0.47	25.57	N/A	N/A	992	467	26,758	85,556
2018-08-22	$4.57	$6.00	43.3%	12.4%	68.7%	25.9%	44.1%	6.9%	4.4%	-287.3K	18.2M	-42.1K	0.19	20.66	N/A	N/A	1,703	328	26,755	85,538
2018-08-23	$4.45	$6.00	44.5%	12.8%	68.3%	27.5%	45.9%	3.4%	1.6%	-273.0K	18.0M	-40.3K	0.21	11.23	N/A	N/A	1,913	408	26,912	85,610
2018-08-24	$4.57	$6.00	39.6%	11.4%	68.9%	21.3%	38.2%	5.2%	7.0%	-295.1K	18.0M	-40.7K	0.28	72.55	N/A	N/A	1,279	360	27,011	85,680
2018-08-27	$4.46	$6.00	42.6%	12.2%	67.6%	25.1%	45.2%	0.2%	5.5%	-281.6K	18.0M	-40.5K	0.27	13.40	N/A	N/A	1,317	359	27,061	85,715
2018-08-28	$4.45	$6.00	43.5%	12.5%	67.2%	26.2%	48.1%	1.0%	3.9%	-263.1K	19.2M	-35.0K	0.36	16.12	N/A	N/A	1,616	584	27,856	85,839
2018-08-29	$4.49	$6.00	44.4%	12.7%	66.5%	27.4%	44.1%	9.0%	-1.7%	-264.3K	19.0M	-35.9K	0.30	18.70	N/A	N/A	1,491	440	28,069	85,988
2018-08-30	$4.43	$6.00	42.4%	12.2%	56.3%	24.8%	47.3%	21.3%	-0.3%	-258.2K	19.4M	-33.5K	0.42	16.49	N/A	N/A	1,386	585	28,311	86,196
2018-08-31	$4.44	$6.00	37.3%	10.7%	53.4%	18.3%	34.9%	2.1%	3.2%	-257.9K	19.7M	-32.2K	0.49	14.28	N/A	N/A	1,301	632	28,524	86,505