CME Options History — December 2024

In December 2024, CME traded between $232.07 and $246.39. ATM implied volatility averaged 18.1%, placing in the 27.8% IV rank vs the trailing year. The 30-day expected move averaged 5.2%. IV traded below realized volatility by 1.3% (HV 20d: 19.3%). Max pain ranged from $190.00 to $240.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 16 of 21 days. Put/call ratio averaged 0.48.

Notable Days

  • 2024-12-06: Highest Volume — 112,261 contracts
  • 2024-12-27: Largest IV spike — 25.6% change
  • 2024-12-11: Highest IV Rank — 42.4%
  • 2024-12-11: Largest Expected Move — 5.8%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$237.76$232.07$246.39$235.47$232.24
Max Pain$221.43$190.00$240.00$200.00$230.00
ATM IV18.1%14.0%20.1%15.7%17.9%
Expected Move5.2%4.0%5.8%4.5%5.1%
HV 20d19.3%16.7%21.7%16.8%19.3%
HV 60d15.7%14.1%16.4%14.1%16.2%
IV Rank27.8%0.0%42.4%10.5%27.4%
IV Percentile44.6%0.0%76.6%2.4%37.3%
Term Structure1.0%-1.3%3.4%1.8%1.4%
VWIV18.2%13.6%20.5%16.0%17.6%
Skew 25d2.2%-0.5%11.3%-0.1%2.3%
Skew 10d13.3%-0.1%43.9%30.6%3.9%
Call IV 25d17.6%14.7%19.9%15.9%16.9%
Put IV 25d19.8%15.6%29.1%15.8%19.2%
Bid-Ask Spread %81.3567.9187.6467.9180.39
Gamma HHI0.300.230.580.340.24
Net GEX20.0M8.2M40.1M30.3M9.2M
Net DEX-335.1M-726.2M-158.7M-583.4M-194.9M
Net VEX-1.2M-1.3M-1.1M-1.3M-1.3M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.480.011.340.390.34
Total Volume10,093.143310112,2612,680442
Total OI46,890.1938,34058,86156,64240,114

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2024-12-02$235.47$200.0015.7%4.5%16.8%10.5%16.0%-0.1%1.8%30.3M-583.4M-1.3M0.3967.91N/AN/A1,92575540,16016,482
2024-12-03$240.54$200.0018.4%5.3%17.8%29.9%18.4%-0.5%0.0%30.4M-662.9M-1.3M0.3281.07N/AN/A2,49880240,64816,513
2024-12-04$243.16$200.0019.1%5.5%17.9%35.3%19.0%1.1%-0.7%30.3M-712.5M-1.2M0.6178.24N/AN/A2,7381,66441,06916,631
2024-12-05$246.39$190.0018.5%5.4%16.7%30.9%18.8%0.7%-0.1%23.8M-726.2M-1.2M0.0781.98N/AN/A4,27829540,02518,095
2024-12-06$240.99$190.0018.0%5.6%19.3%27.3%19.1%1.4%-1.3%25.7M-638.2M-1.2M0.0184.42N/AN/A111,53772440,76018,101
2024-12-09$237.51$220.0020.1%5.7%20.0%42.3%19.3%2.3%0.5%18.6M-257.7M-1.3M0.5684.74N/AN/A79944427,29518,352
2024-12-10$239.53$220.0020.0%5.5%20.1%41.0%19.4%1.8%0.2%21.1M-293.7M-1.3M0.6675.05N/AN/A98965527,44418,386
2024-12-11$234.69$230.0020.1%5.8%21.7%42.4%19.5%2.2%-1.0%15.4M-212.2M-1.3M0.3184.54N/AN/A85426627,43418,892
2024-12-12$236.16$230.0019.2%5.5%21.7%36.0%19.2%1.6%1.0%17.5M-232.4M-1.3M0.1583.98N/AN/A1,13216727,46218,967
2024-12-13$236.92$230.0018.7%5.4%19.9%32.2%19.1%8.4%1.0%17.0M-238.6M-1.2M0.2479.29N/AN/A91021826,87319,078
2024-12-16$236.04$230.0018.8%5.4%19.8%32.7%18.9%1.6%1.2%16.7M-221.6M-1.2M0.1884.22N/AN/A1,00417927,13919,153
2024-12-17$236.33$230.0018.1%5.2%19.7%28.1%18.9%11.3%1.5%16.9M-225.6M-1.2M1.1786.82N/AN/A72585126,84719,143
2024-12-18$238.17$230.0019.3%5.5%19.8%36.3%19.3%1.2%1.3%17.6M-247.9M-1.2M0.6787.64N/AN/A88459026,69219,396
2024-12-19$238.07$230.0019.8%5.7%19.7%39.7%20.5%0.9%-0.1%19.9M-244.5M-1.2M1.3485.27N/AN/A1,5642,09127,01619,785
2024-12-20$239.25$230.0017.8%5.1%19.5%25.6%17.8%1.2%1.7%40.1M-267.3M-1.2M0.4883.97N/AN/A2,2371,06627,19119,738
2024-12-23$238.42$230.0015.7%4.5%19.5%10.8%15.9%1.3%2.6%16.0M-241.3M-1.2M0.3880.38N/AN/A61223023,86214,478
2024-12-24$239.05$230.0014.4%4.1%19.5%1.7%15.6%1.4%3.4%17.2M-249.7M-1.2M0.9183.02N/AN/A16214823,99514,569
2024-12-26$239.13$230.0014.0%4.0%17.7%0.0%13.6%0.9%3.3%17.9M-255.6M-1.1M0.0374.91N/AN/A57,1111,83723,98714,561
2024-12-27$232.87$240.0017.6%5.0%19.7%25.1%17.5%2.3%1.2%9.6M-158.7M-1.2M1.0082.44N/AN/A2,0732,07223,57816,107
2024-12-30$232.07$230.0017.9%5.1%19.7%27.7%18.5%3.0%1.5%8.2M-171.8M-1.2M0.2178.07N/AN/A2,01241623,08315,593
2024-12-31$232.24$230.0017.9%5.1%19.3%27.4%17.6%2.3%1.4%9.2M-194.9M-1.3M0.3480.39N/AN/A33111124,39415,720