CBL Options History — May 2023

In May 2023, CBL traded between $21.63 and $23.39. ATM implied volatility averaged 53.8%, placing in the 19.6% IV rank vs the trailing year. The 30-day expected move averaged 15.3%. IV traded above realized volatility by 25.6% (HV 20d: 28.1%). Max pain ranged from $22.50 to $25.00. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 3 of 22 days. Put/call ratio averaged 1.83.

Notable Days

  • 2023-05-24: Highest Volume — 8,008 contracts
  • 2023-05-02: Largest IV spike — 61.6% change
  • 2023-05-31: Highest IV Rank — 35.9%
  • 2023-05-31: Largest Expected Move — 22.3%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$22.65$21.63$23.39$22.98$23.36
Max Pain$24.66$22.50$25.00$22.50$25.00
ATM IV53.8%37.7%77.8%37.7%77.8%
Expected Move15.3%10.5%22.3%10.8%22.3%
HV 20d28.1%23.5%32.5%25.3%28.7%
HV 60d29.2%28.6%29.6%28.6%29.3%
IV Rank19.6%9.1%35.9%9.1%35.9%
IV Percentile53.6%14.3%94.0%14.3%94.0%
Term Structure-7.9%-25.0%10.6%10.6%-19.9%
VWIV42.3%17.7%68.1%17.7%36.2%
Skew 25d20.4%-2.6%48.4%30.6%43.2%
Skew 10d22.6%4.4%71.2%50.2%29.3%
Call IV 25d34.0%20.2%50.0%21.8%43.3%
Put IV 25d54.4%32.8%86.5%52.4%86.5%
Bid-Ask Spread %123.9498.10148.1198.10128.71
Gamma HHI0.660.340.910.870.50
Net GEX256.2K103.2K491.0K178.9K491.0K
Net DEX-3.3M-7.5M-776.6K-1.7M-7.5M
Net VEX-34.7K-70.1K-14.8K-24.1K-70.1K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.830.0020.500.000.00
Total Volume875.22708,008130
Total OI15,67413,92221,88313,92221,883

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2023-05-01$22.98$22.5037.7%10.8%25.3%9.1%17.7%30.6%10.6%178.9K-1.7M-24.1K0.0098.10N/AN/A13013,630292
2023-05-02$22.70$22.5061.0%17.5%25.4%22.1%0.0%48.4%-9.7%206.9K-2.2M-27.3K0.00111.72N/AN/A1013,643292
2023-05-03$22.81$22.5055.6%15.9%23.5%19.1%0.0%20.8%-17.8%220.9K-2.1M-26.6K0.00122.16N/AN/A0213,642300
2023-05-04$22.27$25.0057.4%18.2%24.2%20.2%65.0%26.3%3.0%212.8K-2.2M-27.0K0.00148.11N/AN/A01113,642302
2023-05-05$22.90$25.0050.6%16.3%27.1%16.3%31.9%-0.0%-7.8%208.1K-1.9M-24.8K3.00121.58N/AN/A1313,642311
2023-05-08$22.34$25.0049.1%10.5%26.4%15.5%0.0%5.6%4.1%120.4K-816.9K-15.7K0.00124.08N/AN/A1013,643314
2023-05-09$22.86$25.0068.2%17.6%28.4%26.2%0.0%-2.6%-9.2%176.6K-1.4M-21.4K0.00121.20N/AN/A1013,642314
2023-05-10$22.72$25.0049.1%14.1%28.3%15.5%32.3%6.3%-1.6%193.4K-1.7M-24.2K0.00119.92N/AN/A1013,643314
2023-05-11$22.50$25.0053.6%15.4%28.2%18.7%0.0%19.8%-8.0%121.5K-776.6K-14.8K0.00120.54N/AN/A0013,644314
2023-05-12$21.92$25.0053.5%15.3%29.1%20.4%0.0%23.8%-10.5%163.2K-1.4M-20.2K0.00128.91N/AN/A8,000313,644314
2023-05-15$21.68$25.0048.1%13.8%29.0%17.0%0.0%27.0%-14.2%239.2K-3.6M-37.2K0.00126.45N/AN/A21015,544311
2023-05-16$21.63$25.0060.3%17.3%29.0%24.7%44.8%-1.0%-19.7%231.9K-2.9M-31.6K20.50130.48N/AN/A24115,565311
2023-05-17$22.13$25.0056.7%16.3%30.8%22.4%0.0%41.2%-25.0%234.0K-2.9M-31.6K0.00133.13N/AN/A0015,567352
2023-05-18$22.63$25.0045.3%13.0%32.5%15.1%0.0%27.7%-14.2%264.0K-3.6M-35.3K0.00122.34N/AN/A0015,567352
2023-05-19$22.48$25.0046.5%13.3%32.4%15.9%0.0%19.4%-0.5%103.2K-4.4M-41.3K0.00116.86N/AN/A1015,567352
2023-05-22$22.82$25.0048.2%13.8%30.6%17.0%68.1%31.6%-3.8%321.8K-4.1M-38.0K0.00118.36N/AN/A01015,534265
2023-05-23$23.28$25.0057.1%16.4%27.8%22.7%36.2%10.1%-4.0%354.4K-5.4M-44.6K0.32126.14N/AN/A632015,534265
2023-05-24$23.24$25.0064.7%18.5%27.0%27.5%0.0%11.2%-15.5%354.6K-4.8M-41.6K0.00133.45N/AN/A8,008015,598285
2023-05-25$22.71$25.0044.4%12.7%28.4%14.6%0.0%19.0%-7.7%401.9K-6.2M-58.0K0.00116.02N/AN/A0018,546285
2023-05-26$22.87$25.0049.9%14.3%28.0%18.1%0.0%27.5%-2.8%418.0K-5.8M-54.0K0.00128.43N/AN/A0118,546285
2023-05-30$23.39$25.0048.7%14.0%29.1%17.3%0.0%11.9%-0.6%418.7K-6.3M-53.8K0.00129.91N/AN/A3,050118,546286
2023-05-31$23.36$25.0077.8%22.3%28.7%35.9%0.0%43.2%-19.9%491.0K-7.5M-70.1K0.00128.71N/AN/A0021,596287