CBL Options History — May 2025

In May 2025, CBL traded between $23.82 and $26.14. ATM implied volatility averaged 41.4%, placing in the 29.8% IV rank vs the trailing year. The 30-day expected move averaged 9.5%. IV traded above realized volatility by 9.4% (HV 20d: 32.0%). Max pain ranged from $23.20 to $27.20. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 9 of 21 days. Put/call ratio averaged 0.65.

Notable Days

  • 2025-05-02: Highest Volume — 76 contracts
  • 2025-05-06: Largest IV spike — 89.6% change
  • 2025-05-07: Highest IV Rank — 69.8%
  • 2025-05-01: Largest Expected Move — 15.9%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$24.95$23.82$26.14$23.82$25.29
Max Pain$26.70$23.20$27.20$27.00$23.20
ATM IV41.4%19.6%87.1%55.6%23.6%
Expected Move9.5%5.6%15.9%15.9%6.8%
HV 20d32.0%20.4%55.3%55.3%30.7%
HV 60d41.1%40.4%42.2%40.4%41.9%
IV Rank29.8%8.0%69.8%41.0%13.7%
IV Percentile62.7%4.4%98.8%92.1%14.3%
Term Structure-2.0%-23.2%16.5%-14.8%12.0%
VWIV36.3%17.4%46.9%29.2%44.0%
Skew 25d3.8%-24.9%24.1%-24.9%-12.1%
Skew 10d7.3%-18.5%26.9%5.8%3.4%
Call IV 25d32.9%19.2%56.1%56.1%40.0%
Put IV 25d36.7%22.2%48.0%31.3%28.0%
Bid-Ask Spread %123.02115.01130.04130.04122.35
Gamma HHI0.760.710.810.710.79
Net GEX258.4K207.3K301.2K207.3K299.3K
Net DEX-6.2M-7.6M-4.9M-4.9M-6.3M
Net VEX-32.6K-33.7K-31.0K-33.0K-31.4K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.650.005.000.010.00
Total Volume10.905076010
Total OI6,320.0956,2496,3946,3946,362

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2025-05-01$23.82$27.0055.6%15.9%55.3%41.0%0.0%-24.9%-14.8%207.3K-4.9M-33.0K0.00130.04N/AN/A006,076318
2025-05-02$24.48$27.0032.5%9.3%46.5%19.8%0.0%-1.7%0.6%256.9K-5.7M-33.4K0.01124.26N/AN/A7516,076318
2025-05-05$24.41$27.2028.0%9.4%44.8%15.8%0.0%2.9%-4.2%256.0K-5.4M-32.8K0.00121.99N/AN/A506,001318
2025-05-06$24.28$27.2053.2%9.3%43.2%38.8%0.0%-2.9%-9.9%243.0K-5.3M-33.5K0.00120.56N/AN/A006,006318
2025-05-07$24.43$27.2087.1%11.7%40.0%69.8%29.2%16.1%1.4%236.1K-5.7M-33.5K0.00123.48N/AN/A106,006318
2025-05-08$24.52$27.2039.6%6.5%30.7%26.3%0.0%14.9%10.3%243.5K-5.5M-32.8K0.00121.80N/AN/A006,005318
2025-05-09$24.41$27.2033.9%7.2%20.4%21.1%0.0%4.7%10.8%244.5K-5.6M-33.3K0.00123.08N/AN/A006,005318
2025-05-12$25.65$27.2048.7%6.9%25.8%34.7%0.0%8.8%8.8%293.1K-6.6M-33.2K0.17123.10N/AN/A1226,005318
2025-05-13$25.41$27.2078.9%6.2%25.3%62.3%0.0%10.8%16.5%278.6K-6.7M-33.7K0.00125.29N/AN/A006,006318
2025-05-14$25.16$27.2021.0%6.0%25.9%9.3%0.0%11.3%8.3%273.3K-6.3M-33.3K0.00123.30N/AN/A006,006318
2025-05-15$25.59$27.2019.6%5.6%26.3%8.0%0.0%4.0%10.6%265.4K-6.6M-33.1K0.00124.80N/AN/A406,006318
2025-05-16$25.67$27.2034.8%10.0%26.3%21.9%0.0%-0.3%-3.7%254.0K-7.0M-33.5K0.00120.94N/AN/A006,009318
2025-05-19$25.89$27.2037.4%10.7%24.4%28.5%0.0%20.8%-16.4%301.2K-7.3M-32.7K0.00125.28N/AN/A005,999250
2025-05-20$26.14$27.2035.4%10.2%23.5%26.4%17.4%24.1%-6.1%287.0K-7.6M-32.6K0.00127.96N/AN/A4005,999250
2025-05-21$25.13$27.2031.7%9.1%28.2%22.4%45.7%-15.6%-6.2%244.0K-6.4M-32.8K0.00123.57N/AN/A806,040250
2025-05-22$24.52$26.2044.5%12.8%29.8%36.1%38.0%16.2%-9.4%251.5K-6.0M-32.3K0.00121.77N/AN/A1106,043250
2025-05-23$24.23$26.2038.5%11.0%30.2%29.6%46.9%-3.4%-10.4%232.8K-5.5M-31.4K2.00123.27N/AN/A126,053250
2025-05-27$24.96$26.2043.8%12.5%31.6%35.3%0.0%3.9%-11.5%255.0K-6.4M-31.0K0.00115.01N/AN/A006,054252
2025-05-28$24.90$26.2039.2%11.2%31.7%30.4%32.9%4.8%-5.3%265.3K-6.3M-31.2K5.00122.77N/AN/A6306,054252
2025-05-29$25.05$25.2042.1%12.1%31.1%33.5%44.0%-3.7%-23.2%239.6K-6.2M-31.0K0.00118.92N/AN/A2106,059282
2025-05-30$25.29$23.2023.6%6.8%30.7%13.7%0.0%-12.1%12.0%299.3K-6.3M-31.4K0.00122.35N/AN/A0106,080282