CBL Options History — March 2025

In March 2025, CBL traded between $26.51 and $31.22. ATM implied volatility averaged 28.3%, placing in the 16.0% IV rank vs the trailing year. The 30-day expected move averaged 8.6%. IV traded below realized volatility by 3.9% (HV 20d: 32.2%). Max pain ranged from $25.00 to $28.20. Net GEX was positive for 20 of 21 trading days. Term structure was in contango for 10 of 21 days. Put/call ratio averaged 0.12.

Notable Days

  • 2025-03-12: Highest Volume — 32,227 contracts
  • 2025-03-28: Largest IV spike — 77.8% change
  • 2025-03-28: Highest IV Rank — 29.2%
  • 2025-03-11: Largest Expected Move — 14.4%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$27.99$26.51$31.22$31.22$26.52
Max Pain$25.98$25.00$28.20$25.00$27.00
ATM IV28.3%22.9%42.7%29.4%38.3%
Expected Move8.6%6.0%14.4%8.4%8.1%
HV 20d32.2%23.0%38.6%23.0%35.5%
HV 60d28.3%24.8%30.8%24.8%28.9%
IV Rank16.0%11.1%29.2%17.0%25.1%
IV Percentile33.2%10.3%83.3%40.1%75.4%
Term Structure-2.2%-29.5%13.4%-20.0%-29.5%
VWIV43.2%23.5%78.5%54.3%27.6%
Skew 25d-0.6%-11.9%11.6%-7.1%-6.7%
Skew 10d-1.3%-19.7%10.6%-19.7%-9.0%
Call IV 25d26.9%20.1%40.4%31.0%30.1%
Put IV 25d26.3%20.4%38.3%23.9%23.5%
Bid-Ask Spread %115.59103.10128.60120.14106.07
Gamma HHI0.600.180.900.510.70
Net GEX224.4K0841.2K273.6K234.2K
Net DEX-16.4M-35.6M0-29.3M-7.9M
Net VEX-29.1K-42.6K0-9.6K-36.7K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.120.001.000.620.00
Total Volume2,016.286032,227633
Total OI7,945.667014,84210,4335,893

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2025-03-03$31.22$25.0029.4%8.4%23.0%17.0%54.3%-7.1%-20.0%273.6K-29.3M-9.6K0.62120.14N/AN/A392410,33796
2025-03-04$30.30$25.0026.1%7.5%25.5%14.0%0.0%11.6%2.0%105.4K-28.1M-8.9K0.00114.56N/AN/A1010,366120
2025-03-05$30.34$25.0024.7%7.1%25.4%12.7%0.0%-7.7%7.6%70.3K-28.4M-7.9K0.00119.39N/AN/A0110,366120
2025-03-06$29.54$25.0030.7%8.8%26.3%18.2%0.0%-5.2%-5.4%59.5K-27.5M-6.8K0.01114.44N/AN/A70110,366121
2025-03-07$29.87$25.0030.7%8.8%26.5%18.2%33.2%1.9%13.4%62.1K-27.8M-7.1K0.00117.25N/AN/A9,644010,354122
2025-03-10$28.86$25.0023.6%6.8%29.0%11.7%62.6%-10.1%-0.7%222.2K-35.6M-39.1K0.03118.63N/AN/A70214,715122
2025-03-11$28.36$25.0025.7%14.4%29.4%13.6%78.5%-11.9%3.6%841.2K-33.8M-42.6K0.00121.63N/AN/A41014,717122
2025-03-12$28.77$25.0036.8%9.8%30.1%23.8%34.6%3.6%-3.3%267.3K-35.5M-38.9K0.00116.09N/AN/A32,227014,720122
2025-03-13$26.73$0.0030.6%11.8%38.6%18.1%23.5%-0.6%4.1%0000.00113.38N/AN/A6000
2025-03-14$27.31$26.2030.1%13.3%37.1%17.7%45.5%-1.5%-0.2%225.7K-8.6M-38.6K0.00119.49N/AN/A405,715120
2025-03-17$27.40$28.2024.7%9.0%34.4%12.7%0.0%2.3%5.6%232.0K-8.7M-38.5K1.00105.97N/AN/A115,718120
2025-03-18$27.44$28.2025.6%8.9%34.0%13.5%0.0%2.1%3.1%231.4K-8.7M-38.3K0.00108.87N/AN/A1605,717121
2025-03-19$27.47$28.2024.7%7.6%34.2%12.7%29.3%-5.8%4.5%210.7K-8.9M-36.8K0.10108.82N/AN/A1015,730121
2025-03-20$27.05$0.0024.6%8.0%34.2%12.6%0.0%-0.8%6.8%249.1K-8.3M-38.0K0.06128.60N/AN/A1715,740122
2025-03-21$26.51$0.0025.0%6.2%34.3%13.0%0.0%1.0%-4.6%232.2K-7.7M-37.4K0.25126.14N/AN/A415,741119
2025-03-24$27.13$0.0022.9%6.0%36.0%11.1%0.0%-1.1%-1.5%250.0K-8.3M-37.4K0.12119.39N/AN/A2535,657114
2025-03-25$26.77$0.0027.2%6.4%35.8%14.9%0.0%2.3%-6.4%226.2K-8.1M-37.3K0.00117.88N/AN/A025,682117
2025-03-26$26.94$0.0026.2%7.3%36.1%14.1%0.0%7.6%-4.1%229.0K-8.1M-37.6K0.00112.77N/AN/A005,682119
2025-03-27$26.82$0.0024.0%7.1%35.9%12.1%0.0%7.9%3.1%240.5K-8.0M-37.7K0.00114.71N/AN/A2405,682119
2025-03-28$26.52$0.0042.7%8.6%35.8%29.2%27.6%5.7%-25.2%249.9K-7.6M-36.9K0.00103.10N/AN/A10305,705119
2025-03-31$26.52$27.0038.3%8.1%35.5%25.1%0.0%-6.7%-29.5%234.2K-7.9M-36.7K0.00106.07N/AN/A305,774119