CBL Options History — December 2025

In December 2025, CBL traded between $33.45 and $38.27. ATM implied volatility averaged 35.1%, placing in the 27.8% IV rank vs the trailing year. The 30-day expected move averaged 8.4%. IV traded above realized volatility by 11.1% (HV 20d: 23.9%). Max pain ranged from $29.20 to $30.00. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 5 of 22 days. Put/call ratio averaged 0.38.

Notable Days

  • 2025-12-04: Highest Volume — 1,294 contracts
  • 2025-12-03: Largest IV spike — 96.1% change
  • 2025-12-08: Highest IV Rank — 53.2%
  • 2025-12-29: Largest Expected Move — 12.3%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$36.44$33.45$38.27$33.72$36.98
Max Pain$29.89$29.20$30.00$29.20$30.00
ATM IV35.1%15.3%53.4%42.7%41.7%
Expected Move8.4%4.0%12.3%12.2%12.0%
HV 20d23.9%19.8%27.9%25.3%23.7%
HV 60d24.6%23.6%25.2%23.9%23.6%
IV Rank27.8%0.3%53.2%38.5%37.0%
IV Percentile49.2%0.4%90.1%72.2%67.9%
Term Structure-8.0%-33.9%12.1%-30.9%-17.9%
VWIV28.9%13.4%89.9%27.5%53.3%
Skew 25d-6.9%-30.0%20.4%5.6%-30.0%
Skew 10d-2.5%-22.0%36.4%-13.0%-20.4%
Call IV 25d31.0%19.8%45.3%45.3%45.1%
Put IV 25d24.1%13.8%51.0%51.0%15.1%
Bid-Ask Spread %125.37119.67133.25133.25127.90
Gamma HHI0.360.170.420.200.41
Net GEX327.7K120.5K447.6K120.5K447.6K
Net DEX-4.7M-6.8M-1.1M-1.1M-5.6M
Net VEX-11.4K-14.7K-4.1K-4.1K-11.0K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.380.006.000.110.00
Total Volume82.54501,2943110
Total OI2,448.7271,3952,8181,3952,459

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2025-12-01$33.72$29.2042.7%12.2%25.3%38.5%0.0%5.6%-30.9%120.5K-1.1M-4.1K0.11133.25N/AN/A2831,096299
2025-12-02$33.45$29.2018.1%5.2%25.8%4.3%0.0%-7.1%-0.1%135.6K-1.2M-4.8K6.00128.63N/AN/A2121,124302
2025-12-03$34.30$29.2035.5%10.2%26.5%28.4%27.5%20.4%-33.9%150.1K-1.5M-5.2K0.01130.22N/AN/A29831,127314
2025-12-04$35.53$30.0045.3%4.1%27.9%42.0%16.8%-4.0%12.1%187.1K-2.3M-6.4K0.00122.29N/AN/A1,29311,253317
2025-12-05$35.53$30.0049.1%4.0%27.6%47.4%17.3%-2.4%9.6%339.2K-4.1M-14.7K0.17123.31N/AN/A1222,490318
2025-12-08$35.20$30.0053.4%9.0%25.3%53.2%26.9%-3.5%-6.2%293.8K-3.9M-14.1K0.00126.20N/AN/A2602,478320
2025-12-09$35.84$30.0053.2%4.3%24.2%53.0%15.8%3.5%7.2%344.3K-4.2M-14.0K0.00125.07N/AN/A1002,452320
2025-12-10$35.92$30.0015.3%4.4%23.1%0.3%24.3%-4.3%6.0%390.8K-4.5M-14.3K0.00119.78N/AN/A202,462320
2025-12-11$36.88$30.0025.7%7.4%24.1%14.7%14.9%-8.4%1.8%345.7K-5.4M-13.7K0.05119.67N/AN/A5532,463320
2025-12-12$37.20$30.0030.0%8.6%23.9%20.8%0.0%-8.1%-12.5%345.7K-5.6M-13.8K0.00123.19N/AN/A902,495323
2025-12-15$37.47$30.0034.2%9.8%23.7%26.6%0.0%-3.7%-18.9%341.9K-6.1M-13.1K0.50124.39N/AN/A422,484333
2025-12-16$37.77$30.0031.2%9.0%20.3%22.5%89.9%4.9%-14.3%360.0K-6.3M-12.6K0.00125.01N/AN/A202,481335
2025-12-17$37.75$30.0029.4%8.4%20.2%20.0%0.0%-7.2%-15.0%336.6K-6.3M-12.7K0.00124.72N/AN/A002,478335
2025-12-18$38.27$30.0026.8%7.7%19.8%16.2%0.0%0.2%-9.6%336.5K-6.8M-12.3K0.00124.51N/AN/A502,478335
2025-12-19$37.16$30.0036.4%10.4%24.0%29.6%0.0%-10.5%-8.5%342.8K-5.5M-13.1K0.00123.57N/AN/A102,477335
2025-12-22$37.33$30.0030.8%8.8%23.2%21.9%13.4%-14.4%-0.4%377.0K-5.7M-12.4K0.00127.00N/AN/A202,38771
2025-12-23$37.02$30.0033.1%9.5%23.1%25.0%0.0%-14.5%-6.0%408.6K-5.4M-12.4K0.00126.32N/AN/A002,38771
2025-12-24$37.23$30.0028.5%8.2%23.0%18.7%30.4%-9.7%-3.7%412.5K-5.3M-12.0K0.04121.72N/AN/A2612,38771
2025-12-26$36.73$30.0033.6%9.6%24.0%25.8%0.0%-23.1%-15.5%434.1K-5.0M-11.9K0.00124.57N/AN/A002,38672
2025-12-29$37.24$30.0042.9%12.3%24.0%38.7%16.9%-17.1%-12.3%372.6K-5.7M-11.4K0.00126.92N/AN/A402,38672
2025-12-30$37.13$30.0034.4%9.9%24.0%26.9%0.0%-17.8%-6.1%385.6K-5.3M-11.0K0.00129.78N/AN/A002,38772
2025-12-31$36.98$30.0041.7%12.0%23.7%37.0%53.3%-30.0%-17.9%447.6K-5.6M-11.0K0.00127.90N/AN/A1002,38772