CEG Options History — May 2025

In May 2025, CEG traded between $242.76 and $309.27. ATM implied volatility averaged 50.6%, placing in the 30.5% IV rank vs the trailing year. The 30-day expected move averaged 14.5%. IV traded below realized volatility by 19.3% (HV 20d: 69.9%). Max pain ranged from $220.00 to $260.00. Net GEX was positive for 20 of 21 trading days. Term structure was in contango for 7 of 21 days. Put/call ratio averaged 0.71.

Notable Days

2025-05-23: Highest Volume — 68,747 contracts
2025-05-12: Largest IV drop — 7.8% change
2025-05-01: Highest IV Rank — 43.0%
2025-05-01: Largest Expected Move — 18.8%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$283.75	$242.76	$309.27	$242.76	$303.51
Max Pain	$248.57	$220.00	$260.00	$220.00	$260.00
ATM IV	50.6%	46.2%	58.5%	58.5%	46.2%
Expected Move	14.5%	12.9%	18.8%	18.8%	12.9%
HV 20d	69.9%	51.5%	105.2%	105.2%	51.5%
HV 60d	79.4%	75.6%	82.4%	77.7%	75.6%
IV Rank	30.5%	20.2%	43.0%	43.0%	20.2%
IV Percentile	59.0%	44.0%	81.0%	81.0%	44.0%
Term Structure	-0.5%	-3.2%	1.4%	-3.2%	-0.5%
VWIV	51.3%	45.4%	65.6%	65.6%	45.4%
Skew 25d	4.0%	2.3%	7.1%	7.1%	3.0%
Skew 10d	10.5%	-11.1%	36.1%	-11.1%	26.1%
Call IV 25d	48.9%	44.4%	53.6%	53.6%	44.4%
Put IV 25d	52.9%	47.3%	60.7%	60.7%	47.3%
Bid-Ask Spread %	56.52	45.52	67.15	60.04	55.80
Gamma HHI	0.08	0.05	0.15	0.07	0.08
Net GEX	17.9M	-47.8K	33.3M	770.6K	27.8M
Net DEX	-904.0M	-1.37B	-228.7M	-228.7M	-1.17B
Net VEX	-6.6M	-7.2M	-5.7M	-5.7M	-7.0M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.71	0.14	3.10	0.41	1.29
Total Volume	20,990.524	8,507	68,747	22,083	9,884
Total OI	217,085.524	181,817	242,435	181,817	228,537

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	P/C	Spread %	Call Wall	Put Wall	Call Vol	Put Vol	Call OI	Put OI
2025-05-01	$242.76	$220.00	58.5%	18.8%	105.2%	43.0%	65.6%	7.1%	-3.2%	770.6K	-228.7M	-5.7M	0.41	60.04	N/A	N/A	15,713	6,370	70,006	111,811
2025-05-02	$248.33	$220.00	56.0%	18.4%	95.5%	39.1%	62.7%	5.6%	-1.9%	2.6M	-374.5M	-5.8M	0.65	53.47	N/A	N/A	7,969	5,195	76,346	114,516
2025-05-05	$248.25	$250.00	56.1%	15.4%	84.5%	39.2%	55.5%	6.2%	-0.8%	-47.8K	-294.0M	-5.7M	1.70	60.01	N/A	N/A	6,256	10,655	74,020	112,443
2025-05-06	$278.13	$250.00	53.6%	15.0%	90.8%	35.4%	51.9%	5.1%	-1.2%	11.3M	-899.7M	-5.7M	0.45	58.25	N/A	N/A	31,909	14,247	78,225	116,529
2025-05-07	$269.26	$250.00	52.3%	14.8%	92.9%	33.5%	51.2%	5.4%	0.1%	9.8M	-710.0M	-6.1M	1.05	66.65	N/A	N/A	9,342	9,850	87,855	122,432
2025-05-08	$273.06	$250.00	50.0%	14.3%	73.2%	29.9%	50.8%	4.9%	1.2%	12.4M	-797.4M	-6.3M	1.02	61.06	N/A	N/A	10,868	11,057	91,659	127,798
2025-05-09	$269.29	$250.00	51.7%	14.8%	66.2%	32.5%	52.2%	4.6%	-0.2%	7.5M	-707.7M	-6.9M	0.28	64.54	N/A	N/A	23,051	6,503	98,300	135,728
2025-05-12	$286.60	$250.00	47.7%	13.2%	68.2%	26.2%	46.7%	4.3%	-1.8%	25.9M	-1.12B	-6.5M	0.32	62.09	N/A	N/A	18,700	5,941	95,795	131,504
2025-05-13	$292.63	$250.00	47.3%	13.4%	68.1%	25.7%	47.3%	3.1%	-0.2%	26.9M	-1.25B	-6.5M	0.95	62.90	N/A	N/A	6,016	5,714	96,278	133,505
2025-05-14	$287.53	$250.00	48.5%	13.8%	68.9%	27.5%	48.8%	3.2%	-0.2%	20.5M	-1.08B	-6.7M	3.10	60.94	N/A	N/A	3,705	11,501	96,986	137,062
2025-05-15	$285.78	$250.00	49.8%	13.9%	67.7%	29.5%	48.4%	3.5%	-2.1%	17.2M	-984.5M	-6.9M	0.14	67.15	N/A	N/A	28,976	3,914	98,714	143,721
2025-05-16	$290.09	$250.00	47.8%	13.6%	67.7%	26.5%	48.1%	3.6%	-0.2%	27.1M	-917.5M	-6.9M	0.51	63.69	N/A	N/A	8,441	4,312	92,819	146,573
2025-05-19	$293.06	$250.00	49.0%	14.0%	58.6%	28.3%	48.7%	3.1%	-0.1%	14.1M	-897.6M	-6.8M	0.58	47.87	N/A	N/A	9,269	5,351	84,825	119,017
2025-05-20	$291.89	$250.00	49.4%	14.1%	58.2%	28.9%	51.6%	3.1%	0.3%	15.0M	-891.8M	-6.8M	0.23	47.55	N/A	N/A	6,913	1,594	87,915	119,997
2025-05-21	$287.18	$250.00	50.8%	14.6%	58.9%	31.1%	53.3%	3.8%	0.2%	13.0M	-783.9M	-6.9M	0.26	47.89	N/A	N/A	14,602	3,730	91,477	120,851
2025-05-22	$292.33	$250.00	49.6%	14.2%	58.0%	29.3%	50.9%	3.0%	1.4%	21.7M	-934.1M	-6.8M	0.26	54.54	N/A	N/A	13,463	3,550	96,560	122,492
2025-05-23	$297.83	$250.00	52.8%	15.1%	58.0%	34.3%	52.8%	2.3%	0.8%	29.0M	-1.07B	-6.9M	0.24	47.09	N/A	N/A	55,294	13,453	96,715	124,283
2025-05-27	$308.83	$250.00	49.4%	14.1%	58.4%	28.9%	50.2%	2.6%	-0.3%	31.8M	-1.35B	-7.2M	0.50	45.52	N/A	N/A	10,979	5,497	97,959	123,610
2025-05-28	$309.27	$260.00	48.8%	13.7%	58.6%	28.0%	48.8%	4.0%	0.0%	33.3M	-1.37B	-7.1M	0.60	48.55	N/A	N/A	7,102	4,264	99,148	125,978
2025-05-29	$303.13	$260.00	46.9%	13.2%	58.6%	23.6%	45.8%	2.7%	-1.2%	28.2M	-1.17B	-7.1M	0.34	51.24	N/A	N/A	7,210	2,441	100,203	128,604
2025-05-30	$303.51	$260.00	46.2%	12.9%	51.5%	20.2%	45.4%	3.0%	-0.5%	27.8M	-1.17B	-7.0M	1.29	55.80	N/A	N/A	4,316	5,568	99,259	129,278