CBL Options History — April 2023

In April 2023, CBL traded between $22.70 and $26.09. ATM implied volatility averaged 33.6%, placing in the 6.8% IV rank vs the trailing year. The 30-day expected move averaged 9.8%. IV traded above realized volatility by 5.9% (HV 20d: 27.7%). Max pain ranged from $22.50 to $25.00. Net GEX was positive for 5 of 19 trading days. Term structure was in contango for 14 of 19 days. Put/call ratio averaged 11.59.

Notable Days

2023-04-24: Highest Volume — 146 contracts
2023-04-25: Largest IV spike — 43.4% change
2023-04-06: Highest IV Rank — 13.0%
2023-04-06: Largest Expected Move — 14.8%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$24.88	$22.70	$26.09	$25.41	$23.07
Max Pain	$22.89	$22.50	$25.00	$25.00	$22.50
ATM IV	33.6%	25.6%	44.6%	36.6%	44.3%
Expected Move	9.8%	7.3%	14.8%	10.5%	12.7%
HV 20d	27.7%	20.1%	34.6%	33.6%	25.8%
HV 60d	30.9%	28.4%	35.1%	35.1%	28.6%
IV Rank	6.8%	2.3%	13.0%	8.5%	12.8%
IV Percentile	8.0%	0.8%	23.1%	9.2%	23.1%
Term Structure	1.6%	-16.4%	18.3%	4.9%	-1.7%
VWIV	32.4%	15.7%	44.9%	34.4%	44.9%
Skew 25d	9.4%	-11.2%	29.2%	2.8%	29.2%
Skew 10d	14.1%	-2.9%	30.3%	11.1%	25.1%
Call IV 25d	30.1%	17.4%	44.7%	36.3%	17.4%
Put IV 25d	39.5%	29.7%	53.8%	39.1%	46.6%
Bid-Ask Spread %	103.00	90.00	120.32	110.40	108.69
Gamma HHI	0.72	0.49	0.95	0.51	0.87
Net GEX	-1.6M	-6.1M	303.9K	-438.5K	180.6K
Net DEX	1.1M	-3.3M	8.4M	1.4M	-1.3M
Net VEX	-59.9K	-97.5K	-16.2K	-93.2K	-20.7K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	11.59	0.00	72.00	0.00	0.21
Total Volume	29.211	0	146	51	0
Total OI	31,327.579	13,738	37,764	37,378	13,922

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
2023-04-03	$25.41	$25.00	36.6%	10.5%	33.6%	8.5%	0.0%	2.8%	4.9%	-438.5K	1.4M	-93.2K	0.00	110.40	N/A	N/A	51	0	24,828	12,550
2023-04-04	$25.98	$25.00	35.2%	10.1%	34.6%	7.7%	34.4%	-7.5%	15.4%	-513.1K	-2.1M	-96.7K	0.00	120.32	N/A	N/A	0	100	24,828	12,550
2023-04-05	$25.99	$25.00	39.2%	11.2%	34.1%	9.9%	0.0%	-11.2%	-13.3%	-615.9K	-2.2M	-97.5K	0.00	116.71	N/A	N/A	0	0	24,828	12,650
2023-04-06	$25.63	$22.50	44.6%	14.8%	32.3%	13.0%	0.0%	7.3%	-16.4%	-184.5K	-1.3M	-89.4K	0.00	116.42	N/A	N/A	3	0	24,828	12,650
2023-04-10	$26.09	$22.50	31.6%	9.9%	30.1%	5.7%	0.0%	12.1%	0.4%	-757.0K	-2.7M	-83.9K	50.00	103.09	N/A	N/A	2	100	24,831	12,650
2023-04-11	$25.70	$22.50	35.5%	10.1%	30.3%	7.8%	0.0%	10.3%	-0.9%	-1.3M	1.3M	-74.1K	0.00	103.97	N/A	N/A	0	14	24,833	12,750
2023-04-12	$25.73	$22.50	31.8%	9.1%	29.5%	5.8%	0.0%	7.0%	0.8%	-611.6K	-481.3K	-70.8K	0.00	104.12	N/A	N/A	0	0	24,833	12,760
2023-04-13	$25.41	$22.50	30.1%	8.6%	29.2%	4.8%	0.0%	-0.0%	1.8%	-1.9M	2.4M	-77.5K	0.00	104.29	N/A	N/A	0	1	24,833	12,760
2023-04-14	$25.26	$22.50	28.5%	8.2%	28.8%	3.9%	0.0%	-2.3%	2.5%	-2.4M	5.6M	-68.7K	0.06	107.01	N/A	N/A	17	1	24,833	12,761
2023-04-17	$25.24	$22.50	29.1%	8.4%	27.7%	4.3%	0.0%	15.9%	2.3%	-2.8M	4.7M	-63.6K	2.86	102.97	N/A	N/A	7	20	24,841	12,760
2023-04-18	$25.19	$22.50	26.1%	7.5%	25.1%	2.5%	0.0%	11.2%	2.9%	-5.0M	6.0M	-59.6K	0.00	96.39	N/A	N/A	0	0	24,848	12,760
2023-04-19	$25.26	$22.50	25.7%	7.4%	24.6%	2.3%	0.0%	1.5%	3.4%	-2.6M	842.0K	-53.4K	0.00	98.08	N/A	N/A	0	4	24,848	12,760
2023-04-20	$25.08	$22.50	25.6%	7.3%	20.4%	2.3%	25.8%	3.0%	5.5%	-5.8M	7.9M	-50.7K	0.00	96.64	N/A	N/A	7	0	24,848	12,909
2023-04-21	$25.05	$22.50	28.3%	8.1%	20.1%	3.8%	29.8%	16.7%	6.1%	-6.1M	8.4M	-46.3K	0.11	90.16	N/A	N/A	9	1	24,855	12,909
2023-04-24	$24.08	$22.50	27.0%	7.7%	24.6%	3.1%	0.0%	25.5%	18.3%	303.9K	-3.3M	-35.8K	72.00	98.49	N/A	N/A	2	144	13,596	142
2023-04-25	$23.09	$22.50	38.7%	11.1%	25.1%	9.6%	43.9%	13.7%	3.2%	162.8K	-1.1M	-18.1K	2.27	93.34	N/A	N/A	11	25	13,596	286
2023-04-26	$22.70	$22.50	38.5%	11.0%	25.4%	9.5%	15.7%	21.3%	5.8%	190.5K	-1.4M	-22.6K	0.00	90.00	N/A	N/A	7	0	13,597	291
2023-04-27	$22.73	$22.50	42.4%	12.2%	25.1%	11.7%	44.9%	22.7%	-11.4%	132.7K	-822.6K	-16.2K	0.21	95.90	N/A	N/A	24	5	13,608	292
2023-04-28	$23.07	$22.50	44.3%	12.7%	25.8%	12.8%	0.0%	29.2%	-1.7%	180.6K	-1.3M	-20.7K	0.00	108.69	N/A	N/A	0	0	13,630	292