CION Options History — June 2025

In June 2025, CION traded between $9.00 and $9.59. ATM implied volatility averaged 34.2%, placing in the 9.2% IV rank vs the trailing year. The 30-day expected move averaged 8.5%. IV traded above realized volatility by 5.5% (HV 20d: 28.7%). Max pain ranged from $10.00 to $10.00. Net GEX was positive for 7 of 20 trading days. Term structure was in contango for 18 of 20 days. Put/call ratio averaged 1.25.

Notable Days

2025-06-16: Highest Volume — 76 contracts
2025-06-04: Largest IV spike — 114.8% change
2025-06-10: Highest IV Rank — 18.9%
2025-06-04: Largest Expected Move — 11.8%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$9.22	$9.00	$9.59	$9.11	$9.59
Max Pain	$10.00	$10.00	$10.00	$10.00	$10.00
ATM IV	34.2%	19.2%	58.0%	28.2%	29.5%
Expected Move	8.5%	5.5%	11.8%	8.1%	8.5%
HV 20d	28.7%	24.6%	33.1%	32.6%	26.2%
HV 60d	39.6%	38.5%	41.1%	41.1%	38.8%
IV Rank	9.2%	3.1%	18.9%	6.7%	7.3%
IV Percentile	39.3%	3.2%	84.1%	28.6%	28.2%
Term Structure	6.1%	-15.4%	22.4%	-3.4%	13.2%
VWIV	29.9%	14.3%	56.3%	20.6%	56.3%
Skew 25d	66.3%	28.4%	117.0%	28.4%	104.2%
Skew 10d	70.9%	22.4%	152.2%	39.4%	112.0%
Call IV 25d	21.5%	12.3%	38.4%	34.6%	14.0%
Put IV 25d	87.8%	49.6%	155.3%	63.0%	118.2%
Bid-Ask Spread %	112.35	80.71	128.38	95.22	117.58
Gamma HHI	0.55	0.48	0.93	0.48	0.68
Net GEX	-3.2K	-12.0K	3.5K	1.3K	-12.0K
Net DEX	186.7K	66.8K	238.9K	232.9K	140.0K
Net VEX	-2.5K	-2.9K	-803	-2.9K	-1.8K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	1.25	0.00	10.00	1.70	0.25
Total Volume	12.8	0	76	27	5
Total OI	2,068.85	1,783	2,230	2,183	1,797

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
2025-06-02	$9.11	$10.00	28.2%	8.1%	32.6%	6.7%	0.0%	28.4%	-3.4%	1.3K	232.9K	-2.9K	1.70	95.22	10	17	908	1,275
2025-06-03	$9.16	$10.00	19.2%	5.5%	32.8%	3.1%	20.6%	38.6%	0.7%	-1.1K	235.0K	-2.8K	0.00	80.71	0	1	918	1,262
2025-06-04	$9.00	$10.00	41.3%	11.8%	33.1%	12.1%	41.3%	37.2%	-15.4%	-11.2K	163.7K	-2.1K	1.00	88.24	1	1	918	1,263
2025-06-05	$9.02	$10.00	46.5%	8.3%	33.0%	14.2%	0.0%	48.1%	5.9%	-4.1K	208.5K	-2.5K	0.00	118.07	0	0	918	1,244
2025-06-06	$9.05	$10.00	46.7%	8.5%	31.2%	14.2%	0.0%	47.5%	6.7%	-9.3K	138.5K	-2.1K	10.00	128.03	1	10	918	1,244
2025-06-09	$9.20	$10.00	50.3%	5.5%	31.8%	15.7%	14.3%	63.6%	10.3%	2.4K	164.5K	-2.7K	0.00	108.68	19	0	919	1,254
2025-06-10	$9.16	$10.00	58.0%	9.1%	31.6%	18.9%	0.0%	65.0%	7.9%	1.7K	155.0K	-2.7K	0.00	126.17	0	0	906	1,253
2025-06-11	$9.12	$10.00	34.0%	9.7%	29.1%	9.1%	0.0%	66.4%	6.0%	1.3K	173.2K	-2.8K	0.00	128.38	0	60	906	1,253
2025-06-12	$9.07	$10.00	33.1%	9.5%	28.8%	8.7%	0.0%	66.3%	3.5%	-217	188.8K	-2.9K	0.00	126.52	0	0	903	1,304
2025-06-13	$9.10	$10.00	33.7%	9.7%	28.7%	9.0%	0.0%	67.6%	5.8%	301	192.9K	-2.9K	0.00	126.56	0	0	903	1,304
2025-06-16	$9.16	$10.00	34.4%	9.9%	28.7%	9.2%	0.0%	70.8%	2.3%	-8.8K	149.3K	-1.8K	0.00	125.82	76	0	903	1,304
2025-06-17	$9.21	$10.00	27.5%	7.9%	28.4%	6.5%	0.0%	60.5%	8.0%	2.5K	209.2K	-2.8K	0.00	110.01	25	0	900	1,304
2025-06-18	$9.23	$10.00	36.6%	10.5%	28.1%	10.2%	0.0%	117.0%	5.4%	-4.9K	238.9K	-2.8K	0.00	116.16	1	0	925	1,304
2025-06-20	$9.26	$10.00	24.2%	6.9%	24.6%	5.1%	16.8%	77.0%	22.4%	-10.1K	222.5K	-2.2K	0.00	97.14	6	0	926	1,304
2025-06-23	$9.27	$10.00	30.5%	8.7%	24.6%	7.7%	0.0%	72.0%	4.4%	3.5K	66.8K	-803	0.00	108.75	1	0	526	1,258
2025-06-24	$9.39	$10.00	26.8%	7.7%	25.1%	6.2%	0.0%	70.8%	10.0%	-4.4K	220.6K	-2.5K	0.00	109.63	1	0	525	1,258
2025-06-25	$9.34	$10.00	32.3%	9.3%	24.9%	8.4%	56.3%	35.9%	2.3%	-3.9K	225.3K	-2.7K	0.00	104.27	8	0	526	1,258
2025-06-26	$9.50	$10.00	20.6%	5.9%	25.7%	3.6%	0.0%	90.5%	11.7%	-3.8K	201.8K	-2.7K	3.33	114.46	3	10	531	1,258
2025-06-27	$9.46	$10.00	30.5%	8.7%	25.6%	7.7%	0.0%	98.7%	13.6%	-3.9K	206.3K	-2.7K	0.00	116.57	0	0	534	1,263
2025-06-30	$9.59	$10.00	29.5%	8.5%	26.2%	7.3%	0.0%	104.2%	13.2%	-12.0K	140.0K	-1.8K	0.25	117.58	4	1	534	1,263