CNP Options History — September 2025

In September 2025, CNP traded between $37.21 and $39.16. ATM implied volatility averaged 21.0%, placing in the 18.5% IV rank vs the trailing year. The 30-day expected move averaged 6.0%. IV traded above realized volatility by 8.6% (HV 20d: 12.3%). Max pain ranged from $37.00 to $38.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 16 of 21 days. Put/call ratio averaged 3.30.

Notable Days

  • 2025-09-04: Highest Volume — 8,069 contracts
  • 2025-09-29: Largest IV spike — 54.2% change
  • 2025-09-29: Highest IV Rank — 33.5%
  • 2025-09-29: Largest Expected Move — 7.2%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$38.14$37.21$39.16$37.84$38.74
Max Pain$37.90$37.00$38.00$37.00$38.00
ATM IV21.0%16.3%25.1%18.6%22.2%
Expected Move6.0%4.7%7.2%5.3%6.4%
HV 20d12.3%10.0%14.8%10.3%14.8%
HV 60d15.7%15.4%16.1%15.5%16.0%
IV Rank18.5%1.5%33.5%10.0%23.0%
IV Percentile53.4%0.8%84.9%22.2%67.9%
Term Structure0.8%-1.5%8.9%1.4%0.6%
VWIV21.2%18.9%25.4%21.8%22.8%
Skew 25d3.4%2.1%9.2%2.8%2.1%
Skew 10d6.4%-5.7%16.7%6.1%7.3%
Call IV 25d19.6%12.1%23.3%18.5%21.8%
Put IV 25d23.0%21.3%26.8%21.4%23.8%
Bid-Ask Spread %79.8258.04108.2590.2968.71
Gamma HHI0.300.220.470.290.32
Net GEX2.4M380.6K3.9M3.3M3.9M
Net DEX-23.1M-34.5M-9.4M-25.8M-34.5M
Net VEX-159.8K-179.4K-140.2K-161.4K-175.8K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio3.300.0339.750.780.42
Total Volume1,453.3331288,069298933
Total OI35,983.1926,23739,46132,33838,709

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2025-09-02$37.84$37.0018.6%5.3%10.3%10.0%21.8%2.8%1.4%3.3M-25.8M-161.4K0.7890.29N/AN/A16713122,9289,410
2025-09-03$37.61$37.0018.0%5.2%10.0%7.9%18.9%9.2%0.7%3.1M-22.7M-157.2K15.4876.37N/AN/A5077423,0709,370
2025-09-04$37.41$38.0022.1%6.0%10.1%22.5%20.4%2.9%0.9%2.7M-19.2M-156.8K39.7582.52N/AN/A1987,87123,0829,960
2025-09-05$37.74$38.0019.1%5.6%10.5%11.9%20.0%3.0%1.3%1.6M-15.9M-179.4K0.8689.04N/AN/A766523,14815,630
2025-09-08$37.21$38.0022.0%5.9%11.2%22.1%19.4%3.4%1.0%380.6K-9.4M-172.9K0.1963.61N/AN/A1803523,15215,649
2025-09-09$37.52$38.0020.9%6.0%11.7%18.2%20.7%2.5%-0.5%970.4K-16.0M-171.3K0.3279.97N/AN/A1835923,24515,643
2025-09-10$37.78$38.0020.4%5.8%12.0%16.4%20.5%2.7%0.8%1.5M-15.7M-166.8K1.4774.55N/AN/A558123,28015,678
2025-09-11$38.13$38.0020.8%6.0%12.3%17.8%20.2%3.4%0.7%2.7M-24.0M-162.5K0.4676.69N/AN/A25511823,29515,680
2025-09-12$38.25$38.0020.6%5.9%12.2%17.3%22.7%2.4%1.3%2.9M-25.3M-163.5K2.0474.46N/AN/A18237223,31315,705
2025-09-15$38.34$38.0020.8%6.0%11.9%17.9%20.4%2.9%0.7%3.5M-27.6M-153.4K0.0382.53N/AN/A1,4093623,41415,809
2025-09-16$37.63$38.0021.1%6.0%13.3%18.9%23.5%2.6%0.3%431.4K-13.8M-149.2K0.6480.86N/AN/A16810823,43215,827
2025-09-17$38.06$38.0020.4%5.9%13.4%16.5%20.1%3.6%0.6%2.4M-21.5M-147.7K0.2393.24N/AN/A84119323,44615,906
2025-09-18$38.14$38.0021.1%6.0%13.0%18.9%21.1%3.6%0.4%2.6M-21.6M-148.8K0.9482.53N/AN/A666223,45216,009
2025-09-19$38.22$38.0020.8%6.0%12.5%17.9%20.8%3.4%0.7%2.4M-22.0M-142.6K0.1584.72N/AN/A2243323,47015,988
2025-09-22$38.28$38.0022.4%6.4%12.5%23.5%20.3%3.9%-0.3%1.7M-20.4M-140.2K0.0390.74N/AN/A3,94910616,5849,653
2025-09-23$38.75$38.0021.9%6.3%12.9%21.8%22.5%3.7%0.1%2.7M-28.2M-154.1K0.7458.04N/AN/A1,5101,11620,2859,702
2025-09-24$38.91$38.0022.3%6.4%12.9%23.4%22.4%3.1%-0.2%2.8M-31.7M-163.0K1.0162.13N/AN/A35135521,52610,732
2025-09-25$38.41$38.0023.6%6.8%13.8%28.2%22.0%3.0%-0.3%2.5M-25.7M-162.5K0.1877.80N/AN/A1,34123621,59010,907
2025-09-26$38.75$38.0016.3%4.7%13.9%1.5%19.7%3.6%8.9%2.9M-29.6M-162.2K3.38108.25N/AN/A3291,11322,43710,950
2025-09-29$39.16$38.0025.1%7.2%14.2%33.5%25.4%3.5%-1.5%2.9M-34.3M-165.2K0.1179.25N/AN/A4,68050922,61211,969
2025-09-30$38.74$38.0022.2%6.4%14.8%23.0%22.8%2.1%0.6%3.9M-34.5M-175.8K0.4268.71N/AN/A65927426,33112,378