CION Options History — January 2025

In January 2025, CION traded between $10.93 and $11.73. ATM implied volatility averaged 79.1%, placing in the 31.3% IV rank vs the trailing year. The 30-day expected move averaged 17.2%. IV traded above realized volatility by 58.8% (HV 20d: 20.3%). Max pain ranged from $10.00 to $10.00. Net GEX was positive for 13 of 20 trading days. Term structure was in contango for 3 of 20 days. Put/call ratio averaged 0.25.

Notable Days

2025-01-21: Highest Volume — 300 contracts
2025-01-14: Largest IV spike — 97.5% change
2025-01-14: Highest IV Rank — 100.0%
2025-01-03: Largest Expected Move — 35.4%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$11.37	$10.93	$11.73	$11.47	$11.73
Max Pain	$10.00	$10.00	$10.00	$10.00	$10.00
ATM IV	79.1%	41.6%	257.8%	70.3%	43.5%
Expected Move	17.2%	11.9%	35.4%	20.2%	12.5%
HV 20d	20.3%	16.7%	23.3%	21.0%	17.9%
HV 60d	19.2%	18.3%	19.8%	18.3%	19.8%
IV Rank	31.3%	12.2%	100.0%	31.3%	12.9%
IV Percentile	73.1%	42.9%	100.0%	80.2%	46.4%
Term Structure	-11.5%	-75.0%	49.5%	49.5%	14.5%
VWIV	54.4%	54.4%	54.4%	54.4%	54.4%
Skew 25d	12.0%	-52.4%	91.8%	91.8%	18.5%
Skew 10d	15.4%	-20.2%	60.3%	32.1%	-4.3%
Call IV 25d	45.1%	19.8%	93.7%	36.6%	19.8%
Put IV 25d	57.2%	19.9%	128.5%	128.5%	38.3%
Bid-Ask Spread %	152.83	101.00	165.03	147.12	101.00
Gamma HHI	0.55	0.46	0.73	0.64	0.57
Net GEX	1.5K	-4.1K	5.7K	5.3K	4.9K
Net DEX	-65.4K	-124.5K	-14.5K	-96.3K	-112.8K
Net VEX	-1.1K	-1.4K	-679	-929	-819
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.25	0.00	2.21	0.00	2.21
Total Volume	32.2	0	300	0	109
Total OI	794.95	554	1,047	554	1,047

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
2025-01-02	$11.47	$10.00	70.3%	20.2%	21.0%	31.3%	0.0%	91.8%	49.5%	5.3K	-96.3K	-929	0.00	147.12	0	0	355	199
2025-01-03	$11.52	$10.00	123.4%	35.4%	21.0%	59.6%	0.0%	-52.4%	-75.0%	5.3K	-102.4K	-913	0.00	147.63	4	0	355	199
2025-01-06	$11.34	$10.00	79.5%	13.9%	21.7%	36.2%	0.0%	-19.9%	31.9%	4.0K	-100.8K	-884	0.00	164.97	20	0	359	199
2025-01-07	$11.11	$10.00	91.0%	14.2%	22.7%	42.3%	0.0%	-49.5%	-8.7%	5.7K	-42.1K	-773	0.00	163.36	0	1	379	199
2025-01-08	$11.07	$10.00	86.6%	16.0%	21.7%	40.0%	0.0%	16.1%	-9.0%	4.6K	-52.6K	-749	0.00	163.88	4	0	379	199
2025-01-10	$10.93	$10.00	103.4%	23.5%	22.0%	49.0%	0.0%	4.6%	-13.0%	5.1K	-14.5K	-679	0.00	165.03	0	2	383	199
2025-01-13	$11.05	$10.00	130.5%	23.6%	22.6%	63.4%	0.0%	62.2%	-14.5%	4.4K	-67.4K	-823	0.00	159.67	0	4	383	201
2025-01-14	$11.23	$10.00	257.8%	13.6%	23.3%	100.0%	0.0%	-11.1%	-9.3%	4.6K	-62.0K	-748	0.00	153.97	0	150	383	205
2025-01-15	$11.30	$10.00	68.4%	19.6%	22.5%	23.1%	0.0%	36.3%	-30.5%	2.2K	-30.6K	-1.1K	0.00	160.45	10	0	383	355
2025-01-16	$11.43	$10.00	69.3%	19.9%	23.0%	23.4%	0.0%	49.7%	-38.2%	1.5K	-80.4K	-1.2K	0.00	164.50	26	0	403	355
2025-01-17	$11.41	$10.00	56.5%	16.2%	22.9%	18.2%	0.0%	22.9%	-15.0%	2.1K	-88.2K	-1.2K	0.00	164.82	0	0	415	356
2025-01-21	$11.54	$10.00	41.6%	11.9%	20.3%	12.2%	0.0%	6.2%	-4.2%	2.2K	-124.5K	-1.0K	0.00	155.31	0	300	384	353
2025-01-22	$11.52	$10.00	52.6%	15.1%	19.5%	16.6%	0.0%	3.0%	-4.4%	-2.0K	-52.3K	-1.3K	0.00	151.22	0	0	384	651
2025-01-23	$11.43	$10.00	49.9%	14.3%	19.3%	15.5%	54.4%	-34.7%	-43.2%	-3.2K	-33.7K	-1.4K	0.00	153.97	1	0	384	651
2025-01-24	$11.46	$10.00	53.8%	15.4%	16.8%	17.2%	0.0%	-28.3%	-43.7%	-3.0K	-62.5K	-1.3K	0.00	156.71	0	0	385	651
2025-01-27	$11.42	$10.00	58.6%	16.8%	16.7%	19.1%	0.0%	6.8%	-2.2%	-4.1K	-36.0K	-1.4K	0.00	141.64	2	0	385	651
2025-01-28	$11.52	$10.00	52.8%	15.1%	17.0%	16.7%	0.0%	9.5%	-2.2%	-3.5K	-57.0K	-1.3K	0.00	155.87	11	0	385	651
2025-01-29	$11.36	$10.00	46.2%	13.2%	17.3%	14.0%	0.0%	55.2%	-6.5%	-3.7K	-29.1K	-1.3K	0.00	143.77	0	0	396	651
2025-01-30	$11.53	$10.00	47.0%	13.5%	17.4%	14.4%	0.0%	53.8%	-6.1%	-2.8K	-63.7K	-1.3K	0.00	141.72	0	0	396	651
2025-01-31	$11.73	$10.00	43.5%	12.5%	17.9%	12.9%	0.0%	18.5%	14.5%	4.9K	-112.8K	-819	2.21	101.00	34	75	396	651