CION Options History — August 2025

In August 2025, CION traded between $9.59 and $10.85. ATM implied volatility averaged 34.6%, placing in the 9.3% IV rank vs the trailing year. The 30-day expected move averaged 7.8%. IV traded above realized volatility by 12.1% (HV 20d: 22.5%). Max pain ranged from $10.00 to $10.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 13 of 21 days. Put/call ratio averaged 0.16.

Notable Days

2025-08-29: Highest Volume — 137 contracts
2025-08-08: Largest IV spike — 340.0% change
2025-08-08: Highest IV Rank — 38.1%
2025-08-01: Largest Expected Move — 15.6%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$10.48	$9.59	$10.85	$9.59	$10.82
Max Pain	$10.00	$10.00	$10.00	$10.00	$10.00
ATM IV	34.6%	22.6%	105.3%	54.4%	29.7%
Expected Move	7.8%	6.5%	15.6%	15.6%	8.5%
HV 20d	22.5%	13.5%	25.2%	14.9%	22.9%
HV 60d	21.9%	17.5%	23.6%	22.4%	17.5%
IV Rank	9.3%	4.5%	38.1%	17.4%	7.4%
IV Percentile	35.6%	7.9%	95.2%	84.5%	32.1%
Term Structure	4.7%	-14.9%	24.1%	1.6%	-14.9%
VWIV	25.3%	19.0%	38.4%	26.4%	38.4%
Skew 25d	19.1%	-25.8%	86.8%	42.8%	60.6%
Skew 10d	36.2%	-33.0%	119.9%	33.8%	87.2%
Call IV 25d	38.6%	22.0%	149.1%	32.9%	46.1%
Put IV 25d	57.7%	23.5%	132.5%	75.8%	106.7%
Bid-Ask Spread %	97.19	68.03	123.77	123.77	114.46
Gamma HHI	0.76	0.46	1.00	0.61	0.50
Net GEX	17.5K	1.7K	37.4K	12.1K	2.0K
Net DEX	-433.2K	-712.1K	67.1K	67.1K	-494.7K
Net VEX	-918	-3.0K	-362	-3.0K	-502
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.16	0.00	0.93	0.00	0.44
Total Volume	32.952	0	137	0	137
Total OI	2,149.524	2,000	2,403	2,209	2,080

Daily Data (21 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
2025-08-01	$9.59	$10.00	54.4%	15.6%	14.9%	17.4%	0.0%	42.8%	1.6%	12.1K	67.1K	-3.0K	0.00	123.77	0	0	955	1,254
2025-08-04	$9.66	$10.00	33.5%	8.0%	13.5%	8.9%	26.4%	60.1%	-0.7%	15.6K	-82.9K	-1.1K	0.00	114.41	4	0	955	1,254
2025-08-05	$9.84	$10.00	45.5%	8.0%	14.7%	13.8%	0.0%	57.5%	-3.8%	27.4K	-177.8K	-1.1K	0.00	103.17	0	0	958	1,254
2025-08-06	$9.89	$10.00	35.9%	7.4%	14.7%	9.9%	25.1%	43.8%	3.5%	34.8K	-190.0K	-1.1K	0.00	107.65	49	0	958	1,254
2025-08-07	$10.36	$10.00	23.9%	6.7%	21.7%	5.0%	19.0%	29.0%	4.9%	37.4K	-521.0K	-1.0K	0.00	95.08	61	0	975	1,254
2025-08-08	$10.72	$10.00	105.3%	8.2%	24.3%	38.1%	23.2%	12.2%	-3.8%	12.4K	-542.6K	-1.4K	0.12	93.40	17	2	996	1,254
2025-08-11	$10.75	$10.00	47.3%	6.6%	24.3%	14.5%	0.0%	8.2%	2.4%	22.4K	-712.1K	-691	0.00	90.86	84	0	997	1,256
2025-08-12	$10.63	$10.00	43.9%	7.1%	24.9%	13.1%	20.6%	7.0%	7.3%	19.7K	-651.9K	-844	0.00	91.53	56	0	1,078	1,256
2025-08-13	$10.68	$10.00	26.0%	7.4%	24.9%	5.8%	0.0%	9.7%	-1.4%	20.7K	-680.5K	-1.0K	0.00	114.44	0	12	1,092	1,256
2025-08-14	$10.61	$10.00	24.1%	6.9%	24.8%	5.1%	21.7%	6.0%	12.0%	15.9K	-686.0K	-945	0.11	73.24	103	11	1,092	1,259
2025-08-15	$10.48	$10.00	27.4%	7.9%	25.2%	6.4%	0.0%	-6.3%	9.3%	16.9K	-660.5K	-952	0.00	68.03	0	10	1,145	1,258
2025-08-18	$10.48	$10.00	23.3%	6.7%	24.9%	4.7%	25.6%	-0.5%	18.0%	27.1K	-344.6K	-651	0.42	71.31	26	11	735	1,268
2025-08-19	$10.62	$10.00	26.1%	7.5%	25.1%	5.9%	26.7%	6.6%	16.4%	23.0K	-387.4K	-680	0.00	76.47	15	0	747	1,264
2025-08-20	$10.58	$10.00	25.3%	7.2%	25.2%	5.6%	0.0%	5.4%	-1.0%	24.3K	-379.6K	-727	0.00	94.94	0	0	747	1,264
2025-08-21	$10.57	$10.00	25.7%	7.4%	25.2%	5.7%	0.0%	4.6%	16.4%	24.6K	-376.4K	-668	0.00	93.71	0	0	747	1,264
2025-08-22	$10.69	$10.00	26.7%	7.6%	25.2%	6.1%	21.1%	13.9%	2.0%	9.1K	-345.2K	-1.3K	0.00	91.17	10	0	747	1,264
2025-08-25	$10.73	$10.00	26.0%	7.5%	24.8%	5.9%	0.0%	2.7%	24.1%	14.7K	-469.3K	-362	0.00	91.80	0	0	737	1,264
2025-08-26	$10.85	$10.00	28.8%	8.3%	24.4%	7.0%	0.0%	86.8%	13.6%	2.7K	-491.3K	-425	0.00	111.49	0	0	737	1,264
2025-08-27	$10.77	$10.00	24.7%	7.1%	23.6%	5.3%	28.0%	-25.8%	-5.7%	1.7K	-487.1K	-469	0.00	112.22	1	0	737	1,264
2025-08-28	$10.73	$10.00	22.6%	6.5%	23.5%	4.5%	27.8%	-23.6%	-0.5%	2.0K	-484.3K	-414	0.93	107.90	43	40	736	1,264
2025-08-29	$10.82	$10.00	29.7%	8.5%	22.9%	7.4%	38.4%	60.6%	-14.9%	2.0K	-494.7K	-502	0.44	114.46	95	42	777	1,303