CBU Options History — January 2025

In January 2025, CBU traded between $58.53 and $66.29. ATM implied volatility averaged 42.4%, placing in the 15.3% IV rank vs the trailing year. The 30-day expected move averaged 7.8%. IV traded above realized volatility by 9.8% (HV 20d: 32.6%). Max pain ranged from $60.00 to $65.00. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 17 of 20 days. Put/call ratio averaged 0.52.

Notable Days

2025-01-10: Highest Volume — 92 contracts
2025-01-15: Largest IV drop — 76.2% change
2025-01-14: Highest IV Rank — 65.6%
2025-01-03: Largest Expected Move — 14.5%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$63.08	$58.53	$66.29	$61.29	$65.35
Max Pain	$60.50	$60.00	$65.00	$65.00	$60.00
ATM IV	42.4%	21.0%	108.6%	49.7%	26.8%
Expected Move	7.8%	6.0%	14.5%	14.2%	7.7%
HV 20d	32.6%	28.5%	38.5%	33.1%	28.5%
HV 60d	44.4%	42.0%	45.6%	44.9%	42.0%
IV Rank	15.3%	0.0%	65.6%	19.7%	4.4%
IV Percentile	33.5%	0.0%	98.0%	59.5%	5.6%
Term Structure	1.2%	-12.5%	9.2%	-11.1%	3.8%
VWIV	28.3%	23.5%	33.8%	30.6%	26.7%
Skew 25d	-11.8%	-26.8%	9.7%	1.1%	-22.8%
Skew 10d	-13.1%	-36.9%	7.9%	6.9%	-36.9%
Call IV 25d	42.8%	28.5%	71.2%	69.8%	46.1%
Put IV 25d	31.0%	18.4%	72.5%	70.9%	23.3%
Bid-Ask Spread %	109.30	94.61	125.75	125.75	107.44
Gamma HHI	0.31	0.27	0.39	0.27	0.30
Net GEX	55.7K	39.5K	68.8K	39.5K	64.5K
Net DEX	-731.4K	-1.1M	-324.7K	-485.2K	-958.1K
Net VEX	-2.4K	-2.8K	-2.1K	-2.8K	-2.2K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.52	0.00	3.00	0.00	0.00
Total Volume	10.45	0	92	0	3
Total OI	480.1	444	503	444	503

Daily Data (20 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 Vol	Put Vol	Call OI	Put OI
2025-01-02	$61.29	$65.00	49.7%	14.2%	33.1%	19.7%	0.0%	1.1%	-11.1%	39.5K	-485.2K	-2.8K	0.00	125.75	0	0	321	123
2025-01-03	$62.01	$65.00	50.7%	14.5%	32.7%	20.4%	0.0%	1.3%	-12.5%	44.8K	-518.6K	-2.7K	0.00	125.44	10	0	321	123
2025-01-06	$61.62	$60.00	57.6%	7.1%	32.7%	25.9%	30.6%	-4.0%	3.5%	44.4K	-522.5K	-2.7K	0.00	109.83	11	0	331	123
2025-01-07	$59.86	$60.00	62.2%	7.1%	33.7%	29.4%	26.0%	8.2%	9.2%	41.2K	-324.7K	-2.1K	0.00	109.08	22	0	331	123
2025-01-08	$60.51	$60.00	63.5%	7.6%	34.2%	30.5%	33.8%	2.0%	1.7%	41.9K	-470.7K	-2.8K	0.00	110.73	11	0	352	131
2025-01-10	$58.53	$60.00	72.8%	7.4%	35.2%	37.7%	28.7%	9.7%	4.3%	40.6K	-337.0K	-2.5K	0.00	109.53	92	0	363	131
2025-01-13	$59.29	$60.00	96.1%	8.5%	35.4%	55.9%	0.0%	-5.1%	2.8%	42.2K	-359.0K	-2.4K	0.00	106.42	0	0	352	130
2025-01-14	$61.34	$60.00	108.6%	7.7%	37.9%	65.6%	0.0%	-12.4%	1.0%	47.6K	-539.3K	-2.6K	0.00	111.26	0	0	352	130
2025-01-15	$62.38	$60.00	25.8%	7.4%	38.5%	1.1%	0.0%	-15.3%	1.6%	53.2K	-638.4K	-2.7K	0.00	105.92	0	0	352	130
2025-01-16	$62.69	$60.00	23.4%	6.7%	38.3%	0.0%	26.9%	-17.6%	0.8%	59.1K	-715.9K	-2.5K	0.00	94.61	4	0	352	130
2025-01-17	$63.06	$60.00	22.4%	6.4%	37.2%	0.0%	28.7%	-6.6%	1.9%	60.6K	-753.6K	-2.6K	3.00	98.10	1	3	354	130
2025-01-21	$65.69	$60.00	22.3%	6.4%	29.8%	0.0%	23.5%	-20.6%	3.1%	67.8K	-1.0M	-2.5K	1.00	111.42	4	4	355	134
2025-01-22	$65.02	$60.00	21.0%	6.0%	30.0%	0.0%	0.0%	-15.5%	-0.1%	66.9K	-941.4K	-2.3K	0.00	107.86	0	0	354	133
2025-01-23	$64.75	$60.00	22.6%	6.5%	29.3%	1.3%	0.0%	-15.4%	1.8%	63.9K	-911.0K	-2.4K	0.00	108.19	0	0	354	133
2025-01-24	$65.79	$60.00	22.4%	6.4%	29.5%	1.1%	0.0%	-25.0%	1.1%	68.0K	-1.1M	-2.3K	0.00	111.72	28	0	354	133
2025-01-27	$66.29	$60.00	23.5%	6.7%	29.6%	1.9%	0.0%	-26.0%	1.5%	68.7K	-1.1M	-2.3K	0.00	108.98	0	0	354	133
2025-01-28	$65.94	$60.00	22.5%	6.4%	29.6%	1.1%	0.0%	-26.8%	2.8%	68.8K	-1.1M	-2.2K	0.00	109.04	0	0	354	133
2025-01-29	$65.06	$60.00	29.5%	8.5%	28.9%	6.5%	29.5%	-22.5%	0.2%	65.8K	-935.5K	-2.2K	1.67	107.30	6	10	354	133
2025-01-30	$65.11	$60.00	25.4%	7.3%	28.8%	3.3%	0.0%	-22.2%	5.8%	64.7K	-949.3K	-2.2K	0.00	107.32	0	0	360	143
2025-01-31	$65.35	$60.00	26.8%	7.7%	28.5%	4.4%	26.7%	-22.8%	3.8%	64.5K	-958.1K	-2.2K	0.00	107.44	3	0	360	143