CME Options History — June 2023

In June 2023, CME traded between $177.69 and $185.92. ATM implied volatility averaged 16.5%, placing in the 4.5% IV rank vs the trailing year. The 30-day expected move averaged 4.7%. IV traded below realized volatility by 3.8% (HV 20d: 20.3%). Max pain ranged from $180.00 to $180.00. Net GEX was positive for 17 of 21 trading days. Term structure was in contango for 15 of 21 days. Put/call ratio averaged 0.67.

Notable Days

  • 2023-06-07: Highest Volume — 11,304 contracts
  • 2023-06-26: Largest IV spike — 12.3% change
  • 2023-06-26: Highest IV Rank — 14.9%
  • 2023-06-12: Largest Expected Move — 5.1%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$182.35$177.69$185.92$179.58$185.80
Max Pain$180.00$180.00$180.00$180.00$180.00
ATM IV16.5%15.6%18.4%16.9%16.0%
Expected Move4.7%4.0%5.1%5.0%4.0%
HV 20d20.3%13.3%23.3%13.3%23.3%
HV 60d17.7%16.7%20.2%19.0%17.5%
IV Rank4.5%0.0%14.9%0.0%1.8%
IV Percentile2.4%0.0%9.1%0.0%1.6%
Term Structure0.4%-2.0%2.7%-0.3%0.5%
VWIV16.9%14.4%19.0%18.4%14.4%
Skew 25d3.2%0.3%5.0%4.4%2.2%
Skew 10d6.9%2.0%11.4%6.9%2.0%
Call IV 25d15.3%13.2%17.5%15.7%15.2%
Put IV 25d18.6%17.0%21.5%20.1%17.4%
Bid-Ask Spread %53.2727.8672.9333.0164.49
Gamma HHI0.100.080.140.090.13
Net GEX2.4M-3.3M6.8M-2.0M6.4M
Net DEX2.0M-49.2M65.3M29.5M-49.2M
Net VEX-1.1M-1.2M-626.2K-1.2M-1.2M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.670.101.130.880.31
Total Volume1,880.57153711,3046951,649
Total OI45,463.1935,94752,90649,33640,609

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2023-06-01$179.58$180.0016.9%5.0%13.3%0.0%18.4%4.4%-0.3%-2.0M29.5M-1.2M0.8833.01N/AN/A36932622,93826,398
2023-06-02$185.49$180.0015.7%4.5%17.1%0.0%16.1%3.6%0.7%3.2M-36.8M-1.2M0.6927.86N/AN/A1,5271,05322,99226,474
2023-06-05$185.92$180.0016.8%4.9%17.0%6.1%16.5%3.6%-0.1%4.1M-40.2M-1.2M0.5761.93N/AN/A83847922,69426,301
2023-06-06$184.47$180.0016.1%4.7%17.2%2.6%17.2%3.1%0.3%3.5M-25.9M-1.1M0.6156.66N/AN/A53732923,00826,265
2023-06-07$182.37$180.0016.9%4.9%17.5%7.0%17.1%2.7%0.4%1.0M2.2M-1.1M0.1046.64N/AN/A10,3011,00322,95526,418
2023-06-08$185.47$180.0015.6%4.7%18.6%0.0%15.4%2.2%0.6%4.6M-25.8M-1.2M0.4467.10N/AN/A1,20253223,10327,299
2023-06-09$184.76$180.0015.8%4.6%18.2%1.1%15.6%3.6%0.3%6.8M-24.4M-1.2M0.8750.39N/AN/A89578224,04727,412
2023-06-12$179.38$180.0016.4%5.1%20.8%4.3%19.0%2.6%1.6%-1.5M50.7M-1.1M1.1345.66N/AN/A1,1961,34623,49226,919
2023-06-13$177.69$180.0016.0%4.8%21.0%2.3%18.6%5.0%0.8%-3.3M65.3M-1.1M0.4648.56N/AN/A98544923,81727,413
2023-06-14$181.28$180.0017.1%5.1%21.9%8.1%19.0%2.7%0.7%1.1M18.6M-1.1M0.6972.93N/AN/A1,16680224,29027,735
2023-06-15$182.06$180.0017.5%5.1%21.9%10.2%18.1%3.3%0.5%1.6M12.7M-1.2M0.9051.05N/AN/A48343624,46028,236
2023-06-16$183.31$180.0015.9%4.5%21.9%1.5%15.8%0.3%-0.4%2.8M-1.9M-1.2M0.6560.41N/AN/A1,09871624,56928,337
2023-06-20$182.99$180.0016.1%4.6%21.9%2.5%17.8%4.5%-1.3%3.7M-5.8M-1.2M0.7069.27N/AN/A88562117,10618,841
2023-06-21$181.01$180.0016.7%4.8%22.2%5.9%15.5%3.6%2.7%2.3M12.6M-1.1M0.5839.60N/AN/A60835118,08019,300
2023-06-22$182.07$180.0016.0%4.5%21.7%2.2%16.1%3.4%2.3%3.7M2.7M-1.2M1.1053.10N/AN/A25628118,52219,473
2023-06-23$181.80$180.0016.4%4.5%21.7%4.0%17.0%3.5%2.1%3.2M5.2M-1.2M0.7750.07N/AN/A46835818,65119,658
2023-06-26$179.01$180.0018.4%4.8%21.9%14.9%17.1%4.1%-2.0%9.9K33.2M-1.1M0.5065.35N/AN/A1,47273018,43919,508
2023-06-27$178.57$180.0016.6%4.8%21.8%5.5%18.0%4.2%0.1%-280.2K33.2M-1.1M1.1057.05N/AN/A46751419,13619,901
2023-06-28$182.99$180.0017.3%4.4%23.3%8.9%15.0%2.2%-0.9%4.8M-11.0M-1.2M0.4153.87N/AN/A70428619,38020,194
2023-06-29$183.30$180.0016.8%4.4%23.0%6.3%17.0%3.3%0.2%4.1M-1.8M-626.2K0.5543.75N/AN/A63835419,88620,471
2023-06-30$185.80$180.0016.0%4.0%23.3%1.8%14.4%2.2%0.5%6.4M-49.2M-1.2M0.3164.49N/AN/A1,25739219,98120,628