CBL Options History — October 2018

In October 2018, CBL traded between $3.29 and $3.84. ATM implied volatility averaged 63.1%, placing in the 50.4% IV rank vs the trailing year. The 30-day expected move averaged 18.3%. IV traded above realized volatility by 17.1% (HV 20d: 46.0%). Max pain ranged from $3.50 to $5.00. Net GEX was positive for 2 of 23 trading days. Term structure was in contango for 4 of 23 days. Put/call ratio averaged 2.57.

Notable Days

2018-10-29: Highest Volume — 22,936 contracts
2018-10-30: Largest IV drop — 43.3% change
2018-10-29: Highest IV Rank — 100.0%
2018-10-29: Largest Expected Move — 31.0%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$3.56	$3.29	$3.84	$3.82	$3.29
Max Pain	$3.96	$3.50	$5.00	$5.00	$4.00
ATM IV	63.1%	41.4%	108.1%	41.4%	75.4%
Expected Move	18.3%	11.9%	31.0%	11.9%	21.6%
HV 20d	46.0%	39.8%	58.7%	45.6%	58.7%
HV 60d	49.5%	42.6%	50.9%	49.7%	46.1%
IV Rank	50.4%	23.6%	100.0%	23.6%	61.6%
IV Percentile	80.9%	33.3%	100.0%	33.3%	96.0%
Term Structure	-7.6%	-35.2%	21.2%	10.4%	-17.6%
VWIV	65.4%	42.0%	116.6%	42.0%	84.5%
Skew 25d	13.0%	-4.3%	56.7%	-4.3%	16.5%
Skew 10d	24.2%	-5.2%	106.3%	5.3%	19.5%
Call IV 25d	58.0%	37.6%	84.4%	40.1%	67.6%
Put IV 25d	71.0%	35.8%	133.3%	35.8%	84.1%
Bid-Ask Spread %	29.87	16.02	64.45	16.48	62.01
Gamma HHI	0.30	0.16	0.51	0.22	0.51
Net GEX	-75.1K	-333.8K	3.9K	-20.6K	-276.8K
Net DEX	12.5M	10.8M	18.5M	10.8M	18.5M
Net VEX	-22.5K	-34.0K	-17.2K	-21.5K	-29.2K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	2.57	0.56	8.57	0.91	3.63
Total Volume	7,408.087	2,492	22,936	4,173	16,744
Total OI	78,283.304	60,452	120,807	60,452	120,807

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
2018-10-01	$3.82	$5.00	41.4%	11.9%	45.6%	23.6%	42.0%	-4.3%	10.4%	-20.6K	10.8M	-21.5K	0.91	16.48	N/A	N/A	2,180	1,993	21,269	39,183
2018-10-02	$3.81	$5.00	45.9%	13.2%	45.3%	29.2%	46.1%	14.7%	1.9%	-13.6K	11.0M	-19.2K	1.46	16.02	N/A	N/A	2,049	2,987	21,647	39,308
2018-10-03	$3.75	$5.00	44.7%	12.8%	43.8%	27.7%	57.0%	14.8%	21.2%	-9.8K	11.5M	-17.8K	1.46	21.32	N/A	N/A	2,023	2,957	21,727	40,322
2018-10-04	$3.65	$3.50	47.2%	15.0%	44.3%	31.0%	53.2%	21.6%	-5.5%	-11.4K	11.3M	-19.5K	1.15	34.16	N/A	N/A	2,498	2,868	22,220	41,411
2018-10-05	$3.73	$3.50	57.1%	14.2%	45.6%	43.5%	46.2%	15.9%	-2.6%	-8.8K	11.6M	-18.6K	0.95	17.06	N/A	N/A	2,048	1,948	22,195	41,489
2018-10-08	$3.84	$3.50	42.9%	14.3%	47.5%	25.5%	53.3%	1.9%	0.4%	-3.3K	11.2M	-20.5K	0.89	16.43	N/A	N/A	2,289	2,043	22,913	41,183
2018-10-09	$3.81	$3.50	42.1%	14.4%	47.5%	24.4%	53.5%	-1.3%	-1.8%	3.9K	11.3M	-20.1K	0.88	17.68	N/A	N/A	2,326	2,045	23,486	41,258
2018-10-10	$3.77	$3.50	54.4%	15.6%	47.6%	40.0%	54.5%	23.9%	-2.0%	-1.5K	11.2M	-20.2K	0.82	27.06	N/A	N/A	1,671	1,369	23,488	41,429
2018-10-11	$3.65	$3.50	62.7%	18.0%	48.2%	50.7%	49.6%	22.5%	-11.5%	-3.2K	11.0M	-20.6K	0.73	48.35	N/A	N/A	1,786	1,310	23,784	41,439
2018-10-12	$3.44	$3.50	64.1%	18.4%	51.5%	52.4%	66.9%	15.5%	-9.6%	-3.7K	11.1M	-17.2K	0.56	21.47	N/A	N/A	2,860	1,607	23,858	41,451
2018-10-15	$3.46	$3.50	66.8%	19.2%	48.4%	55.9%	73.8%	1.8%	-13.5%	2.6K	10.8M	-17.7K	5.61	26.00	N/A	N/A	2,228	12,491	24,757	41,660
2018-10-16	$3.51	$4.00	67.5%	19.4%	49.0%	56.7%	69.7%	14.1%	-13.3%	-54.6K	13.4M	-20.5K	0.59	28.34	N/A	N/A	2,725	1,603	24,997	51,624
2018-10-17	$3.43	$4.00	69.3%	19.9%	46.8%	59.0%	68.5%	2.4%	-13.1%	-50.9K	13.3M	-20.2K	7.68	19.77	N/A	N/A	1,512	11,613	25,392	51,699
2018-10-18	$3.47	$4.00	66.8%	19.2%	45.0%	55.9%	65.6%	0.1%	-11.2%	-100.6K	14.7M	-24.4K	6.19	29.09	N/A	N/A	1,888	11,695	25,705	63,297
2018-10-19	$3.41	$4.00	64.9%	18.6%	42.8%	53.4%	65.1%	-2.9%	-9.2%	-99.0K	14.4M	-24.8K	1.05	22.36	N/A	N/A	1,838	1,928	25,900	63,568
2018-10-22	$3.35	$4.00	68.1%	19.5%	41.8%	57.5%	73.1%	-2.3%	-8.7%	-88.8K	11.9M	-21.8K	0.84	24.92	N/A	N/A	1,355	1,137	24,567	53,596
2018-10-23	$3.38	$4.00	66.1%	19.0%	41.6%	55.0%	69.1%	8.9%	-7.6%	-86.7K	11.9M	-21.7K	0.97	24.51	N/A	N/A	1,538	1,488	24,962	53,567
2018-10-24	$3.32	$4.00	74.2%	21.3%	40.7%	65.3%	71.7%	17.1%	-10.2%	-83.2K	11.9M	-22.3K	8.57	29.13	N/A	N/A	1,369	11,726	25,023	53,990
2018-10-25	$3.47	$4.00	75.7%	21.7%	45.5%	67.2%	79.0%	11.7%	-12.6%	-146.6K	12.5M	-26.3K	0.64	20.49	N/A	N/A	2,446	1,558	25,148	64,084
2018-10-26	$3.35	$4.00	85.4%	24.5%	39.8%	79.5%	73.2%	25.4%	-20.0%	-162.0K	14.0M	-28.9K	6.17	64.45	N/A	N/A	1,518	9,368	26,398	72,365
2018-10-29	$3.55	$4.00	108.1%	31.0%	45.0%	100.0%	116.6%	56.7%	-35.2%	-174.6K	13.1M	-34.0K	6.50	52.73	N/A	N/A	3,059	19,877	26,551	75,156
2018-10-30	$3.65	$4.00	61.3%	17.6%	46.3%	45.1%	71.2%	23.9%	-2.4%	-333.8K	16.0M	-31.4K	0.80	47.26	N/A	N/A	2,684	2,141	28,112	92,531
2018-10-31	$3.29	$4.00	75.4%	21.6%	58.7%	61.6%	84.5%	16.5%	-17.6%	-276.8K	18.5M	-29.2K	3.63	62.01	N/A	N/A	3,617	13,127	28,125	92,682