CME Options History — April 2023

In April 2023, CME traded between $184.21 and $195.21. ATM implied volatility averaged 22.3%, placing in the 21.4% IV rank vs the trailing year. The 30-day expected move averaged 6.2%. IV traded above realized volatility by 4.1% (HV 20d: 18.2%). Max pain ranged from $185.00 to $190.00. Net GEX was positive for 18 of 19 trading days. Term structure was in contango for 5 of 19 days. Put/call ratio averaged 0.83.

Notable Days

  • 2023-04-26: Highest Volume — 2,759 contracts
  • 2023-04-26: Largest IV drop — 13.0% change
  • 2023-04-12: Highest IV Rank — 36.0%
  • 2023-04-11: Largest Expected Move — 6.9%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$190.16$184.21$195.21$190.43$185.09
Max Pain$189.21$185.00$190.00$185.00$190.00
ATM IV22.3%18.1%25.3%23.4%18.1%
Expected Move6.2%4.9%6.9%5.7%4.9%
HV 20d18.2%13.0%27.0%27.0%13.3%
HV 60d22.1%21.8%22.5%22.5%22.1%
IV Rank21.4%0.9%36.0%26.4%0.9%
IV Percentile22.8%0.4%50.0%28.2%0.4%
Term Structure-0.5%-4.2%2.5%0.0%-0.1%
VWIV22.0%18.7%25.4%19.8%19.4%
Skew 25d4.4%3.6%6.2%4.8%4.5%
Skew 10d9.1%5.3%13.0%10.2%10.0%
Call IV 25d20.3%15.7%23.1%21.0%15.7%
Put IV 25d24.7%20.2%28.7%25.8%20.2%
Bid-Ask Spread %60.3741.7872.4567.9372.45
Gamma HHI0.120.080.220.110.22
Net GEX4.3M-5.1M7.8M4.6M-5.1M
Net DEX-71.1M-137.2M-5.3M-84.1M-12.9M
Net VEX-1.4M-1.5M-1.3M-1.4M-1.3M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.830.311.380.921.37
Total Volume1,501.7375662,7598761,737
Total OI47,229.63244,28049,05546,19747,553

Daily Data (19 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2023-04-03$190.43$185.0023.4%5.7%27.0%26.4%19.8%4.8%0.0%4.6M-84.1M-1.4M0.9267.93N/AN/A45741921,42824,769
2023-04-04$192.68$185.0023.8%5.8%26.5%28.4%20.7%4.4%-0.1%5.8M-112.1M-1.4M0.7657.59N/AN/A1,4701,11021,58624,928
2023-04-05$195.21$185.0024.1%5.7%26.7%30.3%20.3%4.3%0.3%6.6M-137.2M-1.5M0.8867.33N/AN/A60753422,55525,544
2023-04-06$194.79$190.0023.3%6.6%24.8%26.1%25.0%3.8%-0.9%7.5M-132.6M-1.5M0.7765.60N/AN/A1,01878722,75825,913
2023-04-10$192.85$190.0024.1%6.7%23.9%30.2%24.1%4.7%-0.6%5.3M-97.2M-1.4M0.3155.14N/AN/A74823422,25325,560
2023-04-11$191.50$190.0024.9%6.9%21.3%33.7%25.4%4.5%-1.0%4.1M-81.4M-1.4M1.0841.78N/AN/A27229422,25225,647
2023-04-12$191.69$190.0025.3%6.8%19.8%36.0%23.1%4.9%-1.3%4.3M-81.6M-1.4M0.8862.95N/AN/A76166622,37725,830
2023-04-13$189.84$190.0023.7%6.7%19.3%28.0%23.3%6.1%-0.5%957.8K-63.6M-1.4M1.2359.13N/AN/A28635322,64926,142
2023-04-14$190.58$190.0022.2%6.5%16.0%21.0%23.4%4.5%1.6%4.9M-72.9M-1.4M0.6147.82N/AN/A84151422,71426,341
2023-04-17$191.35$190.0022.3%6.3%15.9%21.5%21.4%3.9%2.5%7.0M-83.2M-1.4M0.7555.11N/AN/A45233922,28024,040
2023-04-18$191.40$190.0021.6%6.1%14.9%17.7%23.2%3.8%-2.0%7.4M-88.0M-1.3M0.6960.79N/AN/A44230722,50424,246
2023-04-19$192.41$190.0021.1%6.0%14.5%15.5%20.0%3.8%-1.5%7.8M-98.5M-1.3M0.8949.32N/AN/A1,3481,19422,57024,351
2023-04-20$190.18$190.0021.0%6.1%14.5%14.9%21.1%3.9%-1.2%7.4M-72.4M-1.3M0.9558.37N/AN/A84580523,08924,870
2023-04-21$189.13$190.0020.3%5.8%14.4%11.4%22.7%4.0%-0.4%6.4M-50.9M-1.3M0.5552.53N/AN/A1,35074623,33925,267
2023-04-24$187.17$190.0021.7%6.3%13.2%18.3%20.3%3.6%-0.4%2.8M-30.6M-1.3M0.4867.25N/AN/A79738520,84623,434
2023-04-25$187.94$190.0023.7%6.7%13.0%28.1%23.3%6.2%-4.2%3.5M-39.2M-1.4M0.5667.29N/AN/A1,27971921,33023,567
2023-04-26$184.66$190.0020.6%6.2%13.8%13.2%23.4%4.8%-0.9%985.7K-7.6M-1.3M1.3868.42N/AN/A1,1591,60021,82924,106
2023-04-27$184.21$190.0019.0%5.6%13.8%5.4%18.7%3.6%0.6%156.7K-5.3M-1.3M0.6170.28N/AN/A1,02763122,12624,770
2023-04-28$185.09$190.0018.1%4.9%13.3%0.9%19.4%4.5%-0.1%-5.1M-12.9M-1.3M1.3772.45N/AN/A7331,00422,53225,021