CBL Options History — September 2025

In September 2025, CBL traded between $29.92 and $32.41. ATM implied volatility averaged 23.4%, placing in the 9.5% IV rank vs the trailing year. The 30-day expected move averaged 6.5%. IV traded below realized volatility by 0.7% (HV 20d: 24.1%). Max pain ranged from $23.20 to $29.20. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 14 of 21 days. Put/call ratio averaged 0.38.

Notable Days

  • 2025-09-12: Highest Volume — 32,214 contracts
  • 2025-09-19: Largest IV spike — 79.3% change
  • 2025-09-30: Highest IV Rank — 25.9%
  • 2025-09-30: Largest Expected Move — 10.9%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$31.12$29.92$32.41$31.41$30.17
Max Pain$27.66$23.20$29.20$28.00$29.20
ATM IV23.4%15.0%38.0%19.8%38.0%
Expected Move6.5%4.6%10.9%5.7%10.9%
HV 20d24.1%19.4%29.1%29.1%19.5%
HV 60d24.0%23.3%24.8%24.8%23.7%
IV Rank9.5%0.1%25.9%5.4%25.9%
IV Percentile20.0%0.4%66.7%4.4%66.7%
Term Structure1.0%-23.0%13.3%0.6%-23.0%
VWIV25.9%15.4%40.8%23.9%40.8%
Skew 25d2.6%-4.4%12.7%-1.3%12.7%
Skew 10d1.0%-20.1%43.4%-5.4%12.7%
Call IV 25d21.4%14.7%28.2%21.2%16.1%
Put IV 25d24.1%15.7%29.7%19.9%28.9%
Bid-Ask Spread %114.80106.37121.70109.05114.77
Gamma HHI0.270.100.560.290.10
Net GEX41.2K17.9K75.6K65.4K24.2K
Net DEX-7.3M-16.6M-490.7K-15.7M-646.7K
Net VEX-2.7K-3.4K-1.6K-2.2K-3.4K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.380.005.082.000.00
Total Volume1,591.81032,21462
Total OI3,152.6191,0625,7605,5111,261

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2025-09-02$31.41$28.0019.8%5.7%29.1%5.4%23.9%-1.3%0.6%65.4K-15.7M-2.2K2.00109.05N/AN/A245,208303
2025-09-03$31.24$28.0022.6%6.5%26.4%8.5%0.0%3.6%4.8%60.7K-15.5M-2.8K0.00116.75N/AN/A105,209307
2025-09-04$31.55$23.2021.3%5.2%26.3%7.1%26.6%2.3%-5.4%60.5K-15.8M-2.2K5.08111.67N/AN/A402035,210307
2025-09-05$32.03$25.2027.2%5.8%26.4%13.7%0.0%2.5%3.7%36.3K-16.0M-2.6K0.05119.79N/AN/A2115,210510
2025-09-08$32.41$25.2015.0%5.5%26.4%0.1%15.4%-3.3%11.2%44.0K-16.4M-2.0K0.00111.80N/AN/A905,219511
2025-09-09$31.98$25.2024.9%5.4%27.2%11.1%22.8%-0.9%3.2%49.9K-16.2M-2.0K0.05106.37N/AN/A2115,222511
2025-09-10$31.84$25.2021.1%6.0%24.2%6.8%0.0%2.6%-1.4%43.7K-16.1M-1.6K0.00113.25N/AN/A105,244512
2025-09-11$32.40$25.2019.7%5.6%24.3%5.2%0.0%-4.4%2.8%75.6K-16.6M-1.6K0.00116.38N/AN/A305,245512
2025-09-12$32.20$25.2019.5%5.6%24.5%5.1%31.1%0.8%6.0%50.8K-16.4M-1.6K0.00117.96N/AN/A32,21315,248512
2025-09-15$31.50$29.2025.9%7.4%26.0%12.3%0.0%3.1%-4.4%38.0K-866.5K-2.9K0.00115.07N/AN/A2121549513
2025-09-16$31.26$29.2023.8%6.8%26.2%9.9%0.0%6.3%0.5%51.7K-816.2K-2.9K0.00118.14N/AN/A140761513
2025-09-17$31.37$29.2034.4%9.9%26.0%21.8%0.0%3.2%-18.1%64.4K-931.9K-2.8K0.01121.70N/AN/A3655772513
2025-09-18$31.47$29.2017.6%5.1%26.0%3.0%21.0%2.6%11.5%58.1K-895.2K-2.7K0.00115.75N/AN/A8301,130512
2025-09-19$30.51$29.2031.6%9.1%27.9%18.7%0.0%6.0%-15.4%18.4K-655.9K-3.0K0.00113.76N/AN/A4101,203512
2025-09-22$30.05$29.2025.1%7.2%20.3%11.4%0.0%5.9%2.5%17.9K-490.7K-3.1K0.03114.84N/AN/A642583508
2025-09-23$30.13$29.2026.1%7.5%20.2%12.5%0.0%9.9%7.9%21.4K-541.0K-3.3K0.43112.70N/AN/A73647510
2025-09-24$29.92$29.2016.5%4.7%20.3%1.6%0.0%3.0%13.3%21.0K-572.7K-3.4K0.00116.64N/AN/A10651513
2025-09-25$29.98$29.2018.6%5.3%20.3%4.1%0.0%1.7%10.2%20.4K-525.8K-3.3K0.00114.64N/AN/A00652513
2025-09-26$30.13$29.2016.0%4.6%19.5%1.1%25.6%-0.3%12.7%21.6K-605.1K-3.2K0.03114.67N/AN/A672652513
2025-09-29$29.97$29.2027.2%7.8%19.4%13.7%40.8%-1.0%-1.5%21.8K-541.0K-3.4K0.00115.00N/AN/A380709515
2025-09-30$30.17$29.2038.0%10.9%19.5%25.9%0.0%12.7%-23.0%24.2K-646.7K-3.4K0.00114.77N/AN/A20746515