CION Options History — May 2023

In May 2023, CION traded between $9.11 and $10.05. ATM implied volatility averaged 38.8%, placing in the 8.2% IV rank vs the trailing year. The 30-day expected move averaged 9.6%. IV traded above realized volatility by 9.3% (HV 20d: 29.5%). Max pain ranged from $9.73 to $12.23. Net GEX was positive for 20 of 22 trading days. Term structure was in contango for 17 of 22 days. Put/call ratio averaged 1.59.

Notable Days

  • 2023-05-09: Highest Volume — 576 contracts
  • 2023-05-04: Largest IV spike — 461.8% change
  • 2023-05-04: Highest IV Rank — 62.9%
  • 2023-05-04: Largest Expected Move — 14.0%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$9.58$9.11$10.05$9.34$9.52
Max Pain$9.88$9.73$12.23$10.00$12.23
ATM IV38.8%21.8%151.3%28.6%40.7%
Expected Move9.6%6.4%14.0%8.2%11.7%
HV 20d29.5%22.0%35.4%33.7%26.9%
HV 60d34.8%33.9%36.0%34.0%36.0%
IV Rank8.2%0.0%62.9%3.2%9.2%
IV Percentile18.6%0.0%98.3%3.1%30.2%
Term Structure12.1%-8.1%129.6%6.2%14.1%
VWIV43.2%29.0%70.6%53.0%56.2%
Skew 25d135.9%-8.6%273.1%8.1%273.1%
Skew 10d201.4%8.8%363.7%8.8%363.7%
Call IV 25d32.6%21.5%59.0%36.7%29.6%
Put IV 25d168.5%44.8%302.8%44.8%302.8%
Bid-Ask Spread %88.5664.03126.5480.1998.39
Gamma HHI0.680.440.880.800.46
Net GEX13.5K-7.4K29.6K21.7K-7.4K
Net DEX-73.0K-224.2K98.4K-71.1K98.4K
Net VEX-1.3K-1.5K-1.0K-1.3K-1.2K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.590.006.000.004.80
Total Volume48.3640576029
Total OI1,359.4559671,5181,4341,135

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2023-05-01$9.34$10.0028.6%8.2%33.7%3.2%0.0%8.1%6.2%21.7K-71.1K-1.3K0.0080.19001,121313
2023-05-02$9.27$10.0022.3%6.4%33.7%0.1%0.0%-8.6%2.9%17.2K-54.1K-1.3K0.0096.141101,121313
2023-05-03$9.28$10.0026.9%7.7%33.6%2.4%0.0%102.3%27.2%18.8K-9.5K-1.2K5.2084.365261,132313
2023-05-04$9.11$9.73151.3%14.0%33.5%62.9%53.0%72.6%-8.1%7.6K-166.5K-1.4K0.61126.5418111,127339
2023-05-05$9.34$9.7321.8%10.1%34.9%0.0%0.0%112.3%2.2%16.4K15.1K-1.2K0.0088.831001,145330
2023-05-08$9.40$9.7362.5%10.3%34.9%19.8%0.0%152.1%-2.1%12.8K-193.5K-1.5K0.0582.942011,155340
2023-05-09$9.61$9.7341.4%11.0%35.1%9.5%37.4%143.3%-3.6%29.6K-173.5K-1.5K0.0098.6957601,155341
2023-05-10$9.59$9.7336.5%10.5%35.1%7.2%0.0%186.4%1.7%29.1K-142.7K-1.5K1.0074.49111,130341
2023-05-11$9.41$9.7336.0%10.3%35.4%6.9%37.5%201.5%0.8%18.7K-10.7K-1.2K1.3692.1011151,130341
2023-05-12$9.27$9.7335.7%10.2%35.1%6.8%0.0%168.6%-0.3%14.7K-85.9K-1.3K0.5095.19211,130351
2023-05-15$9.27$9.7335.9%10.3%34.1%6.9%0.0%227.1%2.3%13.7K17.0K-1.1K0.0079.93041,132351
2023-05-16$9.46$9.7333.9%9.7%25.1%5.9%33.8%220.5%-1.2%18.3K6.9K-1.0K0.1088.191011,132353
2023-05-17$9.59$9.7335.9%10.3%25.1%6.8%70.6%211.3%2.2%18.4K-197.0K-1.2K1.25100.048101,125354
2023-05-18$9.73$9.7332.6%9.3%25.1%5.2%34.6%201.0%129.6%21.6K-224.2K-1.1K0.00101.250411,133364
2023-05-19$9.93$9.7329.5%8.5%25.4%3.8%0.0%52.2%51.3%29.0K-63.3K-1.2K0.00124.41201,133385
2023-05-22$9.93$9.7333.3%9.5%25.3%5.6%41.3%60.8%0.1%4.6K-62.2K-1.1K0.6471.176441610357
2023-05-23$10.05$9.7335.1%10.1%24.0%6.4%47.2%139.2%3.7%7.0K-109.0K-1.2K0.7880.0497674389
2023-05-24$9.89$9.7330.6%8.8%24.1%4.3%31.3%184.6%7.7%4.4K-68.8K-1.2K0.0064.03066683394
2023-05-25$9.90$9.7331.1%8.9%23.3%4.5%42.2%187.0%9.5%1.4K-35.9K-1.2K4.3080.331043683460
2023-05-26$9.97$9.7324.3%7.0%22.8%1.2%29.0%31.6%6.2%-5.4K-48.4K-1.3K2.0070.3012693502
2023-05-30$9.92$9.7326.7%7.7%22.0%2.4%47.0%63.1%14.3%5.5K-26.8K-1.3K6.0070.7416694504
2023-05-31$9.52$12.2340.7%11.7%26.9%9.2%56.2%273.1%14.1%-7.4K98.4K-1.2K4.8098.39524631504