CBL Options History — February 2026

In February 2026, CBL traded between $35.05 and $38.46. ATM implied volatility averaged 37.2%, placing in the 29.9% IV rank vs the trailing year. The 30-day expected move averaged 9.6%. IV traded above realized volatility by 6.1% (HV 20d: 31.1%). Max pain ranged from $35.00 to $38.00. Net GEX was positive for 19 of 19 trading days. Term structure was in contango for 5 of 19 days. Put/call ratio averaged 0.48.

Notable Days

2026-02-03: Highest Volume — 108 contracts
2026-02-11: Largest IV drop — 38.7% change
2026-02-10: Highest IV Rank — 53.6%
2026-02-02: Largest Expected Move — 14.0%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$36.84	$35.05	$38.46	$36.83	$37.60
Max Pain	$37.53	$35.00	$38.00	$35.00	$38.00
ATM IV	37.2%	25.6%	54.9%	49.0%	26.7%
Expected Move	9.6%	7.4%	14.0%	14.0%	7.7%
HV 20d	31.1%	28.0%	34.5%	29.5%	30.1%
HV 60d	25.9%	24.2%	27.0%	26.2%	27.0%
IV Rank	29.9%	14.3%	53.6%	45.7%	15.7%
IV Percentile	51.1%	18.7%	90.1%	82.9%	21.8%
Term Structure	-5.3%	-28.4%	8.3%	-28.4%	8.3%
VWIV	30.9%	25.7%	39.4%	39.4%	29.9%
Skew 25d	6.8%	-5.5%	18.9%	3.1%	6.7%
Skew 10d	11.2%	-0.0%	21.5%	13.2%	13.3%
Call IV 25d	28.9%	24.2%	37.4%	35.3%	24.2%
Put IV 25d	35.7%	23.8%	43.3%	38.5%	30.9%
Bid-Ask Spread %	120.37	111.09	135.23	134.50	111.94
Gamma HHI	0.75	0.64	0.83	0.73	0.80
Net GEX	197.7K	121.5K	287.5K	145.1K	278.6K
Net DEX	-1.7M	-2.9M	-627.9K	-1.6M	-2.0M
Net VEX	-7.0K	-8.1K	-5.7K	-7.0K	-6.7K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.48	0.00	6.00	0.00	0.00
Total Volume	17.526	0	108	21	35
Total OI	1,876.211	1,798	1,933	1,830	1,859

Daily Data (19 trading days)

Date	Price	Max Pain	ATM IV	Exp Move	HV 20d	IV Rank	VWIV	Skew 25d	Term Str	GEX	DEX	VEX	P/C	Spread %	Call Wall	Put Wall	Call Vol	Put Vol	Call OI	Put OI
2026-02-02	$36.83	$35.00	49.0%	14.0%	29.5%	45.7%	0.0%	3.1%	-28.4%	145.1K	-1.6M	-7.0K	0.00	134.50	N/A	N/A	21	0	1,410	420
2026-02-03	$36.51	$35.00	36.2%	10.4%	28.8%	28.5%	39.4%	11.0%	0.2%	156.9K	-1.5M	-8.1K	0.04	130.52	N/A	N/A	104	4	1,411	420
2026-02-04	$36.00	$35.00	43.7%	12.5%	29.0%	38.6%	0.0%	12.3%	-13.1%	146.9K	-1.3M	-7.8K	0.50	135.23	N/A	N/A	4	2	1,452	423
2026-02-05	$36.09	$38.00	45.9%	9.2%	28.5%	41.6%	0.0%	8.4%	-2.7%	154.2K	-1.3M	-7.7K	0.00	120.15	N/A	N/A	3	0	1,454	424
2026-02-06	$36.48	$38.00	52.9%	10.5%	28.0%	51.0%	0.0%	12.5%	0.4%	160.5K	-1.6M	-8.1K	0.00	121.93	N/A	N/A	0	31	1,456	424
2026-02-09	$36.33	$38.00	50.3%	9.8%	28.0%	47.5%	34.8%	11.2%	-5.7%	159.8K	-1.5M	-8.1K	0.67	116.54	N/A	N/A	3	2	1,456	455
2026-02-10	$36.64	$38.00	54.9%	9.4%	28.3%	53.6%	0.0%	8.2%	-5.0%	191.1K	-1.4M	-7.4K	0.00	119.90	N/A	N/A	5	0	1,458	457
2026-02-11	$35.53	$38.00	33.6%	9.6%	30.1%	25.0%	0.0%	18.9%	-11.9%	155.8K	-1.2M	-7.4K	0.00	121.25	N/A	N/A	0	0	1,463	457
2026-02-12	$35.94	$38.00	36.0%	10.3%	30.5%	28.2%	0.0%	0.4%	-2.7%	150.4K	-1.1M	-6.8K	0.00	125.93	N/A	N/A	1	0	1,463	457
2026-02-13	$35.05	$38.00	30.2%	8.7%	31.4%	20.4%	30.0%	-5.5%	-5.3%	121.5K	-627.9K	-5.7K	0.00	119.47	N/A	N/A	4	0	1,463	457
2026-02-17	$36.70	$38.00	41.0%	11.8%	34.3%	35.0%	30.0%	5.8%	-22.2%	188.9K	-1.2M	-5.8K	0.00	118.04	N/A	N/A	1	0	1,467	456
2026-02-18	$37.05	$38.00	34.0%	9.8%	33.3%	25.6%	28.0%	9.9%	-11.2%	211.8K	-1.5M	-6.5K	6.00	119.42	N/A	N/A	2	12	1,466	456
2026-02-19	$37.30	$38.00	40.0%	11.5%	32.8%	33.5%	25.7%	15.0%	-8.1%	233.7K	-2.0M	-6.8K	0.00	118.96	N/A	N/A	61	0	1,466	467
2026-02-20	$38.46	$38.00	25.6%	7.4%	34.4%	14.3%	0.0%	8.3%	-2.8%	264.4K	-2.9M	-6.9K	0.00	115.99	N/A	N/A	2	0	1,436	467
2026-02-23	$37.87	$38.00	27.1%	7.8%	34.3%	16.3%	0.0%	2.9%	-0.2%	247.5K	-2.3M	-6.7K	0.00	115.03	N/A	N/A	2	0	1,387	411
2026-02-24	$37.59	$38.00	27.5%	7.9%	34.5%	16.8%	0.0%	-0.9%	-1.2%	239.7K	-2.1M	-6.8K	0.00	115.20	N/A	N/A	0	0	1,389	411
2026-02-25	$37.80	$38.00	26.8%	7.7%	34.1%	15.8%	0.0%	0.7%	5.0%	262.2K	-2.2M	-6.3K	0.00	115.88	N/A	N/A	0	0	1,389	411
2026-02-26	$38.11	$38.00	26.0%	7.5%	31.8%	14.7%	29.2%	0.0%	6.6%	287.5K	-2.5M	-6.3K	0.00	111.09	N/A	N/A	34	0	1,419	411
2026-02-27	$37.60	$38.00	26.7%	7.7%	30.1%	15.7%	29.9%	6.7%	8.3%	278.6K	-2.0M	-6.7K	0.00	111.94	N/A	N/A	35	0	1,448	411