CME Options History — January 2024

In January 2024, CME traded between $196.47 and $208.37. ATM implied volatility averaged 19.6%, placing in the 39.0% IV rank vs the trailing year. The 30-day expected move averaged 6.0%. IV traded above realized volatility by 0.2% (HV 20d: 19.4%). Max pain ranged from $200.00 to $210.00. Net GEX was positive for 12 of 21 trading days. Term structure was in contango for 11 of 21 days. Put/call ratio averaged 1.18.

Notable Days

  • 2024-01-10: Highest Volume — 13,784 contracts
  • 2024-01-16: Largest IV spike — 15.3% change
  • 2024-01-17: Highest IV Rank — 52.0%
  • 2024-01-31: Largest Expected Move — 6.7%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$202.24$196.47$208.37$208.37$205.50
Max Pain$207.86$200.00$210.00$210.00$205.00
ATM IV19.6%17.7%21.7%17.8%21.5%
Expected Move6.0%5.3%6.7%5.3%6.7%
HV 20d19.4%17.6%20.9%18.1%17.7%
HV 60d19.1%18.2%19.6%18.8%18.2%
IV Rank39.0%26.8%52.0%27.1%51.0%
IV Percentile55.9%30.2%81.0%30.6%80.6%
Term Structure0.4%-1.6%2.7%0.8%0.2%
VWIV21.3%18.9%23.6%19.2%23.6%
Skew 25d2.3%1.5%2.9%2.7%2.7%
Skew 10d4.8%3.4%6.0%4.5%4.2%
Call IV 25d18.8%16.2%20.6%17.3%20.1%
Put IV 25d21.0%18.4%23.2%20.0%22.8%
Bid-Ask Spread %56.4127.5080.4977.4152.99
Gamma HHI0.150.100.300.110.11
Net GEX-1.3M-13.9M11.5M2.3M5.6M
Net DEX-292.4K-81.9M98.3M-45.9M-57.6M
Net VEX-1.2M-1.3M-1.1M-1.3M-1.2M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.180.288.600.730.41
Total Volume3,180.33378513,7841,9511,065
Total OI52,190.14335,85563,55758,91338,694

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2024-01-02$208.37$210.0017.8%5.3%18.1%27.1%19.2%2.7%0.8%2.3M-45.9M-1.3M0.7377.41N/AN/A1,13082125,97532,938
2024-01-03$202.02$210.0019.2%5.5%20.6%36.5%19.9%2.2%0.1%-7.2M62.0M-1.3M1.3868.75N/AN/A2,0272,78826,36833,172
2024-01-04$202.97$210.0018.4%6.1%20.8%31.3%21.3%1.9%-0.2%-5.1M38.9M-1.3M0.9575.66N/AN/A93689227,08133,440
2024-01-05$199.55$210.0018.6%5.9%20.8%32.6%18.9%2.3%-0.1%-13.9M94.2M-1.2M1.5876.74N/AN/A1,2311,94927,52233,552
2024-01-08$200.41$210.0018.6%6.0%20.4%32.6%21.3%2.9%2.0%-7.4M55.3M-1.2M0.5077.92N/AN/A2,1561,08326,64932,506
2024-01-09$197.00$210.0018.6%6.0%20.8%32.5%21.1%2.0%2.3%-10.7M98.3M-1.1M0.7761.13N/AN/A1,01478327,80132,662
2024-01-10$197.51$210.0018.3%5.8%19.4%30.4%21.1%1.8%1.7%-10.1M78.8M-1.2M8.6060.54N/AN/A1,43612,34828,18932,129
2024-01-11$196.47$210.0018.3%5.8%19.4%30.6%21.3%1.5%2.5%-9.9M84.2M-1.1M1.3636.47N/AN/A1,2581,70828,93231,638
2024-01-12$197.70$210.0017.7%5.6%19.7%26.8%20.7%2.1%2.7%-10.7M56.3M-1.1M0.6752.26N/AN/A2,1401,43929,26331,815
2024-01-16$198.50$210.0020.4%5.9%19.7%43.9%22.2%2.8%-0.8%-8.9M30.7M-1.1M0.5953.21N/AN/A1,9071,12028,71331,646
2024-01-17$202.62$210.0021.7%6.2%20.9%52.0%22.1%2.5%-1.6%1.3M-43.0M-1.2M0.4980.49N/AN/A2,8391,37829,55131,989
2024-01-18$202.42$210.0021.5%6.2%19.7%51.0%21.4%2.6%-0.8%291.1K-42.6M-1.2M0.5162.92N/AN/A2,3311,18230,08232,620
2024-01-19$202.04$200.0020.9%6.1%19.2%46.9%20.9%2.8%-0.8%11.5M-40.0M-1.2M0.2853.98N/AN/A1,94254930,70132,856
2024-01-22$203.00$210.0020.2%6.1%19.3%42.5%21.3%2.4%0.4%2.5M-29.0M-1.2M0.8745.95N/AN/A2,3602,06118,30017,555
2024-01-23$203.97$205.0019.8%5.9%19.0%40.3%20.9%2.3%-0.4%4.4M-41.0M-1.2M0.7131.54N/AN/A1,7351,23419,30418,295
2024-01-24$204.45$205.0019.7%6.1%19.0%39.3%21.8%2.2%-0.1%5.2M-49.3M-1.2M0.7339.62N/AN/A91367019,76419,051
2024-01-25$205.56$205.0020.0%6.1%19.0%41.6%22.1%1.8%-0.4%6.9M-62.6M-1.2M2.1057.41N/AN/A6051,27219,98919,246
2024-01-26$206.59$205.0019.9%6.0%17.6%40.5%21.3%1.7%-0.6%6.1M-81.9M-1.2M0.4731.23N/AN/A1,41666420,14819,718
2024-01-29$204.38$205.0020.5%6.4%17.8%44.4%22.9%2.1%0.5%3.9M-44.7M-1.2M0.5560.92N/AN/A1,04757319,52618,202
2024-01-30$205.97$205.0020.6%6.5%18.1%45.4%23.0%2.2%0.5%5.9M-67.1M-1.2M0.5427.50N/AN/A51027519,92618,485
2024-01-31$205.50$205.0021.5%6.7%17.7%51.0%23.6%2.7%0.2%5.6M-57.6M-1.2M0.4152.99N/AN/A75331220,08718,607