CION Options History — October 2025

In October 2025, CION traded between $9.13 and $9.54. ATM implied volatility averaged 35.2%, placing in the 7.9% IV rank vs the trailing year. The 30-day expected move averaged 9.4%. IV traded above realized volatility by 16.9% (HV 20d: 18.3%). Max pain ranged from $10.00 to $10.00. Net GEX was positive for 17 of 23 trading days. Term structure was in contango for 15 of 23 days. Put/call ratio averaged 1.12.

Notable Days

  • 2025-10-08: Highest Volume — 246 contracts
  • 2025-10-31: Largest IV spike — 124.1% change
  • 2025-10-31: Highest IV Rank — 27.5%
  • 2025-10-31: Largest Expected Move — 23.6%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$9.36$9.13$9.54$9.46$9.20
Max Pain$10.00$10.00$10.00$10.00$10.00
ATM IV35.2%18.2%82.5%66.8%82.5%
Expected Move9.4%5.2%23.6%19.2%23.6%
HV 20d18.3%16.4%21.0%17.1%21.0%
HV 60d21.9%20.6%22.8%21.2%20.6%
IV Rank7.9%0.9%27.5%21.0%27.5%
IV Percentile42.5%1.2%95.6%91.7%95.6%
Term Structure15.0%-31.8%48.9%-23.5%-1.5%
VWIV50.6%13.9%160.7%46.5%26.9%
Skew 25d53.8%-8.6%127.9%68.4%127.9%
Skew 10d54.3%-4.6%132.8%81.0%122.9%
Call IV 25d29.0%17.3%50.0%49.5%35.2%
Put IV 25d82.8%28.8%163.1%117.9%163.1%
Bid-Ask Spread %131.16100.61150.56110.48150.56
Gamma HHI0.490.440.900.440.51
Net GEX3.0K-4.6K11.1K1.8K-4.6K
Net DEX71.9K-54.1K180.9K14.4K53.4K
Net VEX-1.6K-2.0K-548-1.6K-1.8K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.120.0010.000.000.00
Total Volume20.3910246218
Total OI1,786.5221,6171,9721,7191,761

Daily Data (23 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2025-10-01$9.46$10.0066.8%19.2%17.1%21.0%46.5%68.4%-23.5%1.8K14.4K-1.6K0.00110.48205611,158
2025-10-02$9.54$10.0036.0%10.3%17.1%8.3%24.1%22.9%-9.5%5.4K27.7K-1.6K0.00116.45705611,158
2025-10-03$9.54$10.0042.1%12.1%17.1%10.8%122.3%70.4%-16.1%5.1K6.7K-1.5K0.00104.43405641,158
2025-10-06$9.38$10.0040.6%13.4%16.4%10.2%0.0%-8.6%-31.8%2.5K44.7K-1.6K0.00125.90105651,158
2025-10-07$9.34$10.0037.2%11.0%16.4%8.8%0.0%-2.3%-17.6%2.2K85.0K-1.6K0.00120.20005661,158
2025-10-08$9.33$10.0039.0%9.3%16.4%9.5%33.7%-4.5%-13.0%3.3K37.3K-1.1K0.00100.6124605661,158
2025-10-09$9.21$10.0029.8%8.0%16.8%5.7%0.0%11.6%13.4%3.2K79.9K-1.8K0.00113.29008121,158
2025-10-10$9.16$10.0033.4%8.7%16.7%7.2%0.0%5.4%38.6%4.2K120.2K-2.0K0.00141.79008121,158
2025-10-13$9.35$10.0051.9%8.6%18.6%14.9%0.0%14.5%41.6%9.0K38.5K-1.8K0.25138.02418121,158
2025-10-14$9.39$10.0061.1%8.7%18.8%18.7%17.1%14.7%43.3%10.2K63.1K-1.9K0.00139.71408131,157
2025-10-15$9.41$10.0035.6%10.2%17.6%8.1%0.0%108.8%33.0%11.1K82.4K-1.8K0.00130.26208111,157
2025-10-16$9.17$10.0036.1%10.3%18.5%8.3%0.0%34.3%37.9%-120153.4K-1.8K0.00136.90408111,157
2025-10-17$9.16$10.0021.1%6.0%18.1%2.1%0.0%47.7%43.0%-1.4K180.9K-1.8K0.00135.84018151,157
2025-10-20$9.27$10.0020.3%5.8%17.1%1.8%15.0%62.9%12.1%-1.2K119.0K-1.6K1.62136.2026424911,126
2025-10-21$9.50$10.0019.1%5.5%19.4%1.3%0.0%63.5%9.8%10.1K-54.1K-5480.00134.602005021,168
2025-10-22$9.46$10.0020.4%5.8%19.4%1.8%0.0%89.8%3.3%1.5K56.8K-1.6K6.00147.04165221,168
2025-10-23$9.49$10.0018.2%5.2%19.4%0.9%0.0%57.9%48.9%2.7K89.0K-1.8K0.00139.15055221,168
2025-10-24$9.42$10.0020.8%6.0%19.5%2.0%0.0%89.0%43.8%1.6K106.1K-1.7K0.00145.88005221,173
2025-10-27$9.52$10.0019.9%5.7%18.9%1.6%160.7%97.5%48.4%3.4K86.4K-1.7K10.00142.441105221,173
2025-10-28$9.49$10.0020.0%5.7%18.9%1.6%13.9%93.0%1.1%2.6K44.8K-1.4K0.00141.72405231,178
2025-10-29$9.27$10.0020.7%5.9%20.5%1.9%0.0%72.4%-2.4%-2.7K105.8K-1.5K0.00129.325005231,178
2025-10-30$9.13$10.0036.8%10.5%20.8%8.6%46.0%100.7%41.7%-1.9K113.0K-1.9K0.00135.920105731,178
2025-10-31$9.20$10.0082.5%23.6%21.0%27.5%26.9%127.9%-1.5%-4.6K53.4K-1.8K0.00150.561805731,188