CION Options History — January 2023

In January 2023, CION traded between $9.95 and $11.11. ATM implied volatility averaged 53.6%, placing in the 13.9% IV rank vs the trailing year. The 30-day expected move averaged 13.6%. IV traded above realized volatility by 19.8% (HV 20d: 33.9%). Max pain ranged from $9.73 to $9.73. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 5 of 20 days. Put/call ratio averaged 1.00.

Notable Days

2023-01-20: Highest Volume — 40 contracts
2023-01-31: Largest IV spike — 114.1% change
2023-01-09: Highest IV Rank — 32.1%
2023-01-04: Largest Expected Move — 18.2%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$10.55	$9.95	$11.11	$9.95	$10.66
Max Pain	$9.73	$9.73	$9.73	$9.73	$9.73
ATM IV	53.6%	26.7%	90.5%	54.5%	57.0%
Expected Move	13.6%	7.6%	18.2%	15.6%	16.4%
HV 20d	33.9%	27.0%	42.4%	39.4%	31.1%
HV 60d	35.4%	34.4%	36.7%	36.7%	36.4%
IV Rank	13.9%	0.5%	32.1%	14.3%	15.6%
IV Percentile	39.1%	1.2%	82.0%	43.8%	48.5%
Term Structure	-10.7%	-41.8%	15.6%	15.1%	-41.8%
VWIV	37.1%	37.1%	37.1%	37.1%	37.1%
Skew 25d	-8.8%	-34.4%	44.7%	18.8%	-11.2%
Skew 10d	12.4%	-18.0%	105.8%	32.2%	31.0%
Call IV 25d	52.7%	23.5%	87.9%	74.8%	38.8%
Put IV 25d	43.9%	22.1%	132.6%	93.7%	27.6%
Bid-Ask Spread %	132.13	111.47	153.88	129.84	124.35
Gamma HHI	0.63	0.44	0.80	0.44	0.59
Net GEX	5.9K	1.1K	7.5K	1.1K	6.3K
Net DEX	-155.1K	-206.3K	-85.5K	-85.5K	-153.1K
Net VEX	-883	-1.1K	-694	-875	-848
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	1.00	0.00	5.00	0.00	5.00
Total Volume	4.95	0	40	11	0
Total OI	776.85	733	797	797	767

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
2023-01-03	$9.95	$9.73	54.5%	15.6%	39.4%	14.3%	37.1%	18.8%	15.1%	1.1K	-85.5K	-875	0.00	129.84	11	0	489	308
2023-01-04	$10.06	$9.73	63.4%	18.2%	39.3%	18.7%	0.0%	44.7%	-25.5%	3.6K	-114.0K	-1.0K	0.00	124.55	0	0	481	308
2023-01-05	$9.98	$9.73	80.0%	11.2%	39.3%	26.9%	0.0%	-6.9%	14.3%	3.0K	-92.4K	-950	0.00	135.75	0	0	481	308
2023-01-06	$10.29	$9.73	77.2%	14.9%	40.8%	25.5%	0.0%	-2.0%	-3.0%	3.6K	-138.1K	-1.1K	0.00	144.51	0	0	481	308
2023-01-09	$10.32	$9.73	90.5%	14.4%	40.6%	32.1%	0.0%	-17.2%	-10.8%	5.4K	-130.1K	-881	0.00	129.85	1	0	481	308
2023-01-10	$10.70	$9.73	59.6%	12.6%	42.4%	16.8%	0.0%	-24.8%	-3.3%	7.3K	-158.6K	-842	0.00	131.88	1	0	480	308
2023-01-11	$10.76	$9.73	46.1%	13.2%	35.4%	10.1%	0.0%	-27.6%	1.6%	7.5K	-174.2K	-912	0.00	144.22	12	0	481	308
2023-01-12	$10.79	$9.73	50.6%	14.5%	35.3%	12.4%	0.0%	-34.4%	-16.7%	6.6K	-197.9K	-989	0.00	152.23	0	0	483	308
2023-01-13	$10.64	$9.73	51.5%	14.8%	35.6%	12.8%	0.0%	-19.3%	-21.8%	6.5K	-174.2K	-945	0.00	152.98	0	0	483	308
2023-01-17	$10.75	$9.73	54.9%	15.7%	33.4%	14.5%	0.0%	-33.9%	-11.0%	6.3K	-186.8K	-926	0.00	153.88	0	0	483	308
2023-01-18	$10.61	$9.73	51.2%	14.7%	33.2%	12.7%	0.0%	-29.2%	-25.0%	7.0K	-165.7K	-871	0.00	152.00	0	0	483	308
2023-01-19	$10.45	$9.73	52.3%	15.0%	31.2%	13.2%	0.0%	-29.3%	-12.0%	6.5K	-157.9K	-829	0.00	152.66	0	0	483	308
2023-01-20	$10.59	$9.73	58.6%	16.8%	28.2%	16.3%	0.0%	3.0%	-40.2%	6.4K	-175.3K	-898	0.00	131.28	0	40	483	308
2023-01-23	$10.75	$9.73	38.5%	11.0%	28.1%	6.4%	0.0%	-1.3%	-14.2%	7.1K	-174.2K	-852	0.00	115.35	0	0	442	291
2023-01-24	$10.73	$9.73	42.1%	12.1%	27.0%	8.2%	0.0%	-4.3%	-26.3%	7.0K	-157.5K	-694	5.00	111.47	4	20	442	291
2023-01-25	$10.57	$9.73	33.1%	9.5%	27.7%	3.7%	0.0%	-7.9%	-3.7%	5.9K	-144.9K	-812	0.00	116.69	0	0	446	311
2023-01-26	$10.57	$9.73	47.1%	13.5%	27.7%	10.7%	0.0%	-13.9%	-17.2%	6.5K	-138.0K	-772	0.00	113.69	0	0	446	311
2023-01-27	$11.11	$9.73	37.6%	10.8%	31.0%	5.9%	0.0%	10.1%	10.8%	7.5K	-206.3K	-842	0.00	112.13	0	0	446	311
2023-01-30	$10.82	$9.73	26.7%	7.6%	30.3%	0.5%	0.0%	10.3%	15.6%	7.1K	-177.3K	-792	0.00	113.29	0	10	446	311
2023-01-31	$10.66	$9.73	57.0%	16.4%	31.1%	15.6%	0.0%	-11.2%	-41.8%	6.3K	-153.1K	-848	0.00	124.35	0	0	446	321