CBL Options History — March 2023

In March 2023, CBL traded between $23.99 and $27.20. ATM implied volatility averaged 53.5%, placing in the 18.5% IV rank vs the trailing year. The 30-day expected move averaged 11.7%. IV traded above realized volatility by 22.8% (HV 20d: 30.8%). Max pain ranged from $25.00 to $30.00. Net GEX was positive for 10 of 23 trading days. Term structure was in contango for 6 of 23 days. Put/call ratio averaged 4.47.

Notable Days

  • 2023-03-07: Highest Volume — 1,695 contracts
  • 2023-03-15: Largest IV drop — 62.1% change
  • 2023-03-13: Highest IV Rank — 49.0%
  • 2023-03-01: Largest Expected Move — 17.7%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$25.36$23.99$27.20$26.03$25.48
Max Pain$25.65$25.00$30.00$30.00$25.00
ATM IV53.5%38.6%107.8%61.7%38.8%
Expected Move11.7%7.3%17.7%17.7%11.1%
HV 20d30.8%25.5%35.3%25.5%34.0%
HV 60d36.3%34.3%40.5%40.0%35.2%
IV Rank18.5%9.3%49.0%24.6%9.4%
IV Percentile32.0%9.6%74.9%62.5%10.0%
Term Structure-4.2%-33.2%22.4%-33.2%-0.7%
VWIV38.7%30.0%48.0%32.6%42.0%
Skew 25d5.3%-20.8%29.0%3.8%4.5%
Skew 10d16.6%-21.4%73.7%-21.4%13.9%
Call IV 25d36.5%26.5%68.7%44.5%32.4%
Put IV 25d41.8%31.3%61.1%48.3%36.9%
Bid-Ask Spread %107.2785.50125.64121.23116.93
Gamma HHI0.480.470.500.480.49
Net GEX-58.0K-332.8K335.1K-78.0K-274.5K
Net DEX131.8K-10.3M6.0M1.4M-2.1M
Net VEX-110.1K-129.7K-90.6K-98.5K-106.9K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio4.470.0050.600.003.00
Total Volume386.47831,695164
Total OI35,267.34830,18237,37530,18237,375

Daily Data (23 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2023-03-01$26.03$30.0061.7%17.7%25.5%24.6%0.0%3.8%-33.2%-78.0K1.4M-98.5K0.00121.23N/AN/A16018,86311,319
2023-03-02$26.42$30.0050.5%14.5%26.1%18.8%0.0%4.0%-28.0%32.7K-1.8M-106.7K0.08125.64N/AN/A1,20010018,87911,319
2023-03-03$26.80$30.0046.7%13.4%26.5%16.7%0.0%4.4%-22.3%139.7K-4.9M-115.2K0.00120.06N/AN/A758020,07311,419
2023-03-06$27.10$25.0049.1%8.0%26.7%18.0%0.0%3.4%1.0%205.4K-7.0M-116.3K0.0085.50N/AN/A851120,82911,419
2023-03-07$26.80$25.0051.8%7.9%27.1%19.4%32.6%4.3%-0.1%103.3K-5.4M-116.9K0.0290.17N/AN/A1,6692621,68011,420
2023-03-08$27.20$25.0067.0%7.3%26.0%27.4%30.1%2.1%-3.8%335.1K-10.3M-128.7K0.0187.20N/AN/A1,1041523,31211,446
2023-03-09$26.30$25.0056.8%9.4%28.9%22.0%30.0%8.9%-2.0%84.8K-4.2M-129.7K0.2592.11N/AN/A1002524,38011,461
2023-03-10$25.35$25.0076.0%9.1%31.3%32.2%32.1%9.8%-1.1%-332.8K2.4M-117.1K50.6093.36N/AN/A525324,41511,486
2023-03-13$25.04$25.00107.8%10.5%29.5%49.0%37.1%5.9%-1.5%-242.3K4.0M-114.3K1.2389.24N/AN/A8110024,41011,709
2023-03-14$24.62$25.00102.0%10.3%29.6%44.0%36.6%11.6%-1.1%-247.5K4.3M-113.8K22.2099.02N/AN/A511124,34311,709
2023-03-15$24.21$25.0038.6%11.1%29.9%9.3%42.7%14.1%9.5%-231.3K3.5M-118.0K0.00103.93N/AN/A11024,34811,719
2023-03-16$24.64$25.0040.3%11.5%30.9%10.2%48.0%-20.8%22.4%148.3K1.1M-113.8K0.00108.84N/AN/A03524,34511,719
2023-03-17$24.16$25.0044.6%12.8%31.3%12.6%44.8%19.0%-1.1%-50.5K2.2M-116.5K1.14109.08N/AN/A8810024,34511,754
2023-03-20$24.98$25.0044.7%12.8%32.9%12.6%41.8%2.6%-6.5%16.1K-778.5K-117.4K0.50113.44N/AN/A2124,41811,834
2023-03-21$25.36$25.0040.4%11.6%31.3%10.3%40.5%0.5%1.3%17.9K715.7K-107.8K0.29109.50N/AN/A852524,41911,866
2023-03-22$24.42$25.0049.7%14.3%33.9%15.4%47.8%24.4%-16.1%23.7K2.2M-106.0K0.00115.07N/AN/A010024,41911,891
2023-03-23$24.23$25.0047.6%13.6%33.9%14.2%39.6%-15.4%-9.3%-117.7K5.0M-98.5K1.05117.50N/AN/A50052524,51911,991
2023-03-24$23.99$25.0043.9%12.6%32.8%12.2%0.0%3.5%9.9%-247.0K6.0M-90.6K0.00114.87N/AN/A04524,51912,016
2023-03-27$24.88$25.0044.4%12.7%35.3%12.5%41.6%29.0%-1.0%-108.1K2.3M-96.5K3.05109.13N/AN/A3911924,51912,061
2023-03-28$24.88$25.0046.1%13.2%35.3%13.4%35.0%-5.3%-12.0%-139.1K2.0M-102.8K0.75114.33N/AN/A31523624,51912,312
2023-03-29$25.08$25.0042.9%12.3%34.6%11.7%33.5%2.6%-9.4%-235.0K2.5M-98.6K0.78114.97N/AN/A503924,77712,348
2023-03-30$25.24$25.0039.9%11.4%34.2%10.0%40.3%5.8%9.8%-138.0K-117.6K-102.4K0.00116.03N/AN/A015024,82712,398
2023-03-31$25.48$25.0038.8%11.1%34.0%9.4%42.0%4.5%-0.7%-274.5K-2.1M-106.9K3.00116.93N/AN/A1324,82712,548