CBL & Associates Properties, Inc. (CBL) Options Chain
The options chain displays all available contracts with real-time quotes, Greeks, volume, and open interest for each strike and expiration. It is the primary tool for options trade selection.
CBL & Associates Properties, Inc. (CBL) operates in the Real Estate sector, specifically the REIT - Retail industry, with a market capitalization near $1.48B, listed on NYSE, employing roughly 390 people, carrying a beta of 1.46 to the broader market. Headquartered in Chattanooga, TN, CBL Properties owns and manages a national portfolio of market-dominant properties located in dynamic and growing communities. Led by Stephen D. Lebovitz, public since 2021-11-02.
Snapshot as of May 29, 2026.
- Spot Price
- $48.27
- Total OI
- 467
- Total Volume
- 47
- Front Expiration
- 20 days
- Second Expiration
- 49 days
- ATM IV
- 42.6%
- Avg Bid/Ask Spread
- 56.70%
As of May 29, 2026, CBL & Associates Properties, Inc. (CBL) has 467 open contracts and 47 contracts traded. The nearest expiration is 20 days out, followed by 49 days. ATM implied volatility is 42.6%. Average bid/ask spread across the chain is 56.70%: wider spreads, size positions conservatively. The options chain aggregates every listed strike and expiration, letting traders evaluate skew, term structure, and liquidity in a single view.
How CBL options chain Data Feeds Strategy Selection
Strategy selection on CBL & Associates Properties, Inc. options does not derive from any single metric in isolation. The options chain view above sits inside a broader read: ATM IV currently sits at 42.6% and dealer gamma exposure is positive, so dealer hedging is mechanically mean-reverting. Combine the options chain data here with the volatility-skew surface, dealer-gamma exposure, max-pain level, and upcoming-events calendar to build a positioning thesis. Risk-defined structures (credit spreads, debit spreads, iron condors) are usually safer than naked positions while the regime is uncertain; the data on this page anchors the inputs but does not by itself constitute a trade thesis.
How to read the CBL chain depth
The listed-expirations table above shows every expiration available for CBL & Associates Properties, Inc. options with its days-to-expiration count and ATM implied volatility. Front-month expirations carry the most volume, the highest gamma, and the tightest bid-ask spreads; longer-dated tenors carry less liquidity but more vega exposure. CBL front expiration sits at 20 days - the typical hedging horizon for monthly options. The backwardated slope of -0.125 means near-dated IV is pricing acute event risk.
CBL chain mechanics and execution
Options are listed at standardized strike intervals (typically $1 for sub-$25 underlyings, $2.50-$5 for mid-cap, $10-$50 for large-cap), and the deltas of each listed strike are determined by where IV lies relative to the strike's moneyness. Average bid/ask spread on the CBL chain is 56.70% - a measure of liquidity. Tighter spreads on liquid strikes mean lower transaction costs; wider spreads on long-dated or far-OTM strikes mean execution drag can dominate the math. The chain table on the SPA side shows the full per-strike, per-expiration grid; this SSR page summarizes the listed expirations and the front-month context to anchor the structural read.
Using the CBL chain to build structures
Strategy selection starts with the chain: directional theses use single-leg calls or puts, range-bound theses use credit spreads or iron condors, vol theses use straddles or strangles, calendar theses use diagonal spreads. CBL's current 12.21% expected move anchors wing placement - structures with wings at the implied band collect the modal-outcome premium under lognormal assumptions. Cross-reference with the gamma-exposure profile to understand where dealer hedging will reinforce or fight your position, and with the volatility-skew chart to confirm the strikes you're trading sit at the IV levels your strategy assumes.
Learn how the options chain is reported and how to read the data →
CBL listed expirations
Per-expiration ATM implied volatility for CBL options. Each row is one listed expiration with its days-to-expiration count and ATM IV pulled from the same term-structure feed that powers the SPA's expiration filter. Front-month expirations carry the highest gamma, the tightest bid-ask spreads, and the most volume; longer-dated tenors carry less liquidity but more vega.
| Expiration | DTE | ATM IV |
|---|---|---|
| Jun 18, 2026 | 20 | 42.6% |
| Jul 17, 2026 | 49 | 30.1% |
| Oct 16, 2026 | 140 | 31.2% |
| Nov 20, 2026 | 175 | 31.9% |
| Jan 15, 2027 | 231 | 29.7% |
Frequently asked CBL options chain questions
- What does the CBL options chain show right now?
- As of May 29, 2026, CBL & Associates Properties, Inc. (CBL) has 467 contracts outstanding and 47 traded today, with ATM IV of 42.6%. The full chain spans every listed strike and expiration with bid/ask, Greeks, volume, and open interest per contract.
- What expirations are available for CBL options?
- The nearest expiration is 20 days out, followed by 49 days. Listed expirations typically extend monthly with weeklies between, plus LEAPS one to two years out for liquid names.
- How tight are CBL options bid/ask spreads?
- Average bid/ask spread across the chain is 56.70%. Wider spreads warrant conservative sizing; mid-market fills are unreliable for retail-size orders.