CBU Options History — September 2025

In September 2025, CBU traded between $57.99 and $61.75. ATM implied volatility averaged 40.4%, placing in the 23.9% IV rank vs the trailing year. The 30-day expected move averaged 11.0%. IV traded above realized volatility by 13.2% (HV 20d: 27.2%). Max pain ranged from $60.00 to $65.00. Net GEX was positive for 20 of 21 trading days. Term structure was in contango for 1 of 21 days. Put/call ratio averaged 0.00.

Notable Days

2025-09-26: Highest Volume — 4 contracts
2025-09-10: Largest IV drop — 25.4% change
2025-09-08: Highest IV Rank — 31.3%
2025-09-30: Largest Expected Move — 13.4%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$59.59	$57.99	$61.75	$59.16	$58.45
Max Pain	$64.52	$60.00	$65.00	$60.00	$65.00
ATM IV	40.4%	32.8%	47.3%	39.9%	46.8%
Expected Move	11.0%	9.1%	13.4%	11.4%	13.4%
HV 20d	27.2%	23.4%	32.6%	32.0%	23.4%
HV 60d	28.7%	27.9%	29.3%	29.3%	27.9%
IV Rank	23.9%	15.6%	31.3%	23.3%	30.7%
IV Percentile	51.9%	21.8%	73.4%	52.4%	73.4%
Term Structure	-8.2%	-19.6%	2.9%	-6.7%	-19.6%
VWIV	38.3%	32.1%	43.1%	32.1%	39.6%
Skew 25d	-8.9%	-28.5%	1.3%	-23.7%	-16.3%
Skew 10d	-1.3%	-52.6%	22.3%	-29.5%	3.3%
Call IV 25d	52.1%	41.4%	66.6%	58.0%	66.6%
Put IV 25d	43.1%	26.4%	51.2%	34.3%	50.3%
Bid-Ask Spread %	124.12	107.35	128.26	107.35	128.26
Gamma HHI	0.58	0.34	0.62	0.55	0.58
Net GEX	7.1K	-1.0K	9.1K	6.6K	6.9K
Net DEX	-161.3K	-246.3K	-96.3K	-135.6K	-123.0K
Net VEX	-1.1K	-1.5K	-903	-1.2K	-903
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.00	0.00	0.00	0.00	0.00
Total Volume	0.476	0	4	0	0
Total OI	381	369	387	385	374

Daily Data (21 trading days)

Date	Price	Max Pain	ATM IV	Exp Move	HV 20d	IV Rank	VWIV	Skew 25d	Term Str	GEX	DEX	VEX	Spread %	Call Vol	Put Vol	Call OI	Put OI
2025-09-02	$59.16	$60.00	39.9%	11.4%	32.0%	23.3%	0.0%	-23.7%	-6.7%	6.6K	-135.6K	-1.2K	107.35	0	0	88	297
2025-09-03	$59.30	$60.00	38.4%	11.0%	32.0%	21.7%	0.0%	-28.5%	-6.6%	6.4K	-141.9K	-1.2K	108.71	0	0	88	297
2025-09-04	$60.45	$65.00	43.5%	9.1%	32.3%	27.2%	32.1%	-0.2%	-5.5%	9.1K	-184.0K	-1.2K	125.05	0	1	88	297
2025-09-05	$60.09	$65.00	42.0%	9.4%	32.6%	25.5%	0.0%	0.8%	-4.7%	8.5K	-168.7K	-1.2K	125.65	0	0	88	298
2025-09-08	$60.20	$65.00	47.3%	9.6%	32.5%	31.3%	0.0%	0.6%	-2.1%	7.7K	-177.9K	-1.2K	124.86	0	0	88	298
2025-09-09	$59.00	$65.00	44.0%	10.5%	31.1%	27.7%	0.0%	0.9%	-10.1%	8.6K	-123.9K	-1.2K	124.20	0	0	88	298
2025-09-10	$59.32	$65.00	32.8%	9.4%	26.3%	15.6%	0.0%	1.3%	-3.2%	8.2K	-135.9K	-1.1K	126.52	0	0	88	298
2025-09-11	$59.62	$65.00	33.9%	9.7%	26.3%	16.8%	0.0%	0.2%	-5.5%	7.8K	-150.9K	-1.2K	126.47	0	0	88	298
2025-09-12	$59.18	$65.00	34.0%	9.7%	25.8%	16.8%	0.0%	0.2%	-5.1%	8.3K	-159.2K	-1.1K	127.75	0	0	88	298
2025-09-15	$57.99	$65.00	38.6%	11.1%	25.0%	21.9%	0.0%	-14.6%	-6.7%	5.6K	-96.3K	-1.1K	119.76	0	0	88	298
2025-09-16	$58.05	$65.00	42.3%	12.1%	24.9%	25.9%	43.1%	-3.5%	-14.2%	5.7K	-124.4K	-1.1K	123.99	0	1	88	298
2025-09-17	$59.55	$65.00	38.3%	11.0%	26.3%	21.6%	0.0%	-10.3%	-8.2%	8.3K	-166.7K	-1.1K	125.04	0	0	88	299
2025-09-18	$61.75	$65.00	41.6%	11.9%	29.0%	25.1%	0.0%	-1.6%	2.9%	7.0K	-246.3K	-1.1K	125.31	0	0	88	299
2025-09-19	$60.83	$65.00	38.5%	11.0%	29.7%	21.7%	0.0%	-11.3%	-6.6%	7.6K	-242.3K	-1.0K	126.39	1	0	88	299
2025-09-22	$59.89	$65.00	39.2%	11.2%	23.8%	22.5%	39.6%	-12.3%	-7.1%	7.9K	-169.1K	-1.0K	127.16	0	3	80	289
2025-09-23	$60.31	$65.00	39.8%	11.4%	23.8%	23.2%	0.0%	-11.4%	-10.2%	7.5K	-196.6K	-1.0K	127.95	0	0	80	290
2025-09-24	$60.03	$65.00	40.0%	11.5%	23.8%	23.4%	0.0%	-12.3%	-10.8%	8.7K	-180.7K	-996	125.97	0	0	80	290
2025-09-25	$59.47	$65.00	41.0%	11.8%	23.9%	24.5%	0.0%	-14.6%	-11.4%	7.7K	-163.0K	-1.0K	125.97	0	0	80	290
2025-09-26	$59.63	$65.00	41.9%	12.0%	23.6%	25.5%	0.0%	-14.1%	-14.8%	-1.0K	-141.6K	-1.5K	127.34	4	0	80	290
2025-09-29	$59.07	$65.00	45.4%	13.0%	23.7%	29.2%	0.0%	-16.9%	-16.0%	6.4K	-159.1K	-969	126.82	0	0	84	290
2025-09-30	$58.45	$65.00	46.8%	13.4%	23.4%	30.7%	0.0%	-16.3%	-19.6%	6.9K	-123.0K	-903	128.26	0	0	84	290