CION Options History — March 2023

In March 2023, CION traded between $9.42 and $10.82. ATM implied volatility averaged 53.1%, placing in the 13.6% IV rank vs the trailing year. The 30-day expected move averaged 14.2%. IV traded above realized volatility by 20.7% (HV 20d: 32.4%). Max pain ranged from $9.73 to $10.00. Net GEX was positive for 23 of 23 trading days. Term structure was in contango for 13 of 23 days. Put/call ratio averaged 0.74.

Notable Days

  • 2023-03-10: Highest Volume — 108 contracts
  • 2023-03-23: Largest IV spike — 73.7% change
  • 2023-03-13: Highest IV Rank — 26.6%
  • 2023-03-10: Largest Expected Move — 36.4%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$9.99$9.42$10.82$10.75$9.93
Max Pain$9.94$9.73$10.00$9.73$10.00
ATM IV53.1%30.3%79.2%43.1%32.6%
Expected Move14.2%8.7%36.4%12.4%9.4%
HV 20d32.4%18.0%46.1%23.2%46.1%
HV 60d32.5%29.7%34.6%31.4%34.3%
IV Rank13.6%2.3%26.6%8.6%3.5%
IV Percentile41.0%2.9%78.2%25.4%7.7%
Term Structure3.6%-72.6%42.1%-10.4%4.4%
VWIV49.8%25.9%119.4%119.4%38.6%
Skew 25d31.1%-28.9%114.8%24.2%24.1%
Skew 10d46.1%-48.6%129.8%69.3%37.1%
Call IV 25d46.2%27.7%78.0%30.0%35.3%
Put IV 25d77.3%40.8%179.7%54.2%59.4%
Bid-Ask Spread %104.8369.41133.1769.4182.74
Gamma HHI0.360.270.490.370.31
Net GEX2.5K6654.3K3.9K1.7K
Net DEX-29.9K-121.8K76.3K-121.0K-3.5K
Net VEX-922-1.1K-748-885-893
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.740.002.860.002.86
Total Volume22.7390108027
Total OI747.957574922796612

Daily Data (23 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2023-03-01$10.75$9.7343.1%12.4%23.2%8.6%0.0%24.2%-10.4%3.9K-121.0K-8850.0069.4100409387
2023-03-02$10.75$9.7360.7%17.4%18.0%17.4%119.4%-0.5%-4.9%4.3K-121.8K-9520.00109.17016409387
2023-03-03$10.82$9.7363.4%18.2%18.1%18.7%0.0%-10.9%-6.0%4.0K-113.7K-8240.00119.79040409387
2023-03-06$10.75$0.0071.0%14.0%18.0%22.5%0.0%18.4%-0.9%3.6K-101.4K-8940.00133.17600409417
2023-03-07$10.43$0.0063.7%11.4%19.9%18.9%0.0%43.1%-24.1%3.9K-112.5K-1.1K0.00110.75010453427
2023-03-08$10.49$0.0044.9%15.0%20.1%9.5%0.0%27.7%-6.7%3.4K-114.8K-1.1K0.00116.92100453437
2023-03-09$10.11$0.0074.4%10.7%23.3%24.2%0.0%37.8%10.7%2.5K-17.9K-8610.00103.22019453437
2023-03-10$9.82$0.0068.6%36.4%24.2%21.3%0.0%8.1%-72.6%2.5K15.4K-8102.38130.353276453431
2023-03-13$9.61$0.0079.2%13.0%24.8%26.6%0.0%101.8%-12.6%2.9K1.3K-9340.83106.093025463387
2023-03-14$9.59$0.0075.9%12.6%23.4%24.9%0.0%53.1%-7.3%3.7K15.3K-8931.90106.681019503378
2023-03-15$9.52$0.0059.4%17.0%23.4%16.7%0.0%-28.9%-21.6%3.7K-6.2K-9830.00118.53042513393
2023-03-16$10.16$0.0039.5%11.3%34.7%6.8%0.0%41.5%42.1%3.4K-88.2K-7480.07116.50141513395
2023-03-17$9.62$0.0054.2%15.5%39.0%14.2%37.2%114.8%20.9%66576.3K-8340.00126.4550527395
2023-03-20$9.74$10.0030.9%8.9%39.3%2.6%25.9%26.9%29.0%1.8K8.4K-8310.00101.30560359215
2023-03-21$10.10$10.0031.0%8.9%41.6%2.7%30.5%82.5%22.9%1.9K-23.5K-9910.0098.0820372215
2023-03-22$9.93$10.0031.9%9.1%41.8%3.1%31.9%19.2%35.6%1.8K2.0K-8372.3386.2937372215
2023-03-23$9.54$10.0055.4%15.9%43.4%14.7%65.1%18.5%18.4%1.4K-7.0K-1.1K0.00116.6604375221
2023-03-24$9.75$10.0070.0%20.1%44.5%22.0%38.6%34.5%10.0%1.8K-33.6K-1.1K0.00103.4350375223
2023-03-27$9.59$10.0056.5%16.2%44.7%15.3%0.0%21.7%2.4%1.0K22.3K-8710.0097.3200380223
2023-03-28$9.42$10.0052.2%15.0%44.0%13.2%0.0%23.7%17.0%1.1K9.9K-9650.0099.4970380223
2023-03-29$9.52$10.0030.3%8.7%44.3%2.3%0.0%12.0%12.7%1.1K19.4K-8910.0085.9800386223
2023-03-30$9.73$10.0032.2%9.2%45.3%3.3%0.0%22.5%24.3%1.3K6.6K-9000.0072.8530386223
2023-03-31$9.93$10.0032.6%9.4%46.1%3.5%0.0%24.1%4.4%1.7K-3.5K-8932.8682.74720389223