CNP Options History — January 2026

In January 2026, CNP traded between $37.68 and $39.70. ATM implied volatility averaged 20.5%, placing in the 25.4% IV rank vs the trailing year. The 30-day expected move averaged 5.9%. IV traded above realized volatility by 5.9% (HV 20d: 14.6%). Max pain ranged from $37.00 to $39.00. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 11 of 20 days. Put/call ratio averaged 0.39.

Notable Days

  • 2026-01-30: Highest Volume — 4,289 contracts
  • 2026-01-14: Largest IV drop — 15.8% change
  • 2026-01-13: Highest IV Rank — 39.7%
  • 2026-01-29: Largest Expected Move — 6.4%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$38.86$37.68$39.70$38.70$39.69
Max Pain$37.35$37.00$39.00$39.00$38.00
ATM IV20.5%16.5%24.9%16.5%21.3%
Expected Move5.9%4.7%6.4%4.7%6.1%
HV 20d14.6%11.4%17.5%11.4%17.3%
HV 60d13.2%12.0%14.3%12.0%13.8%
IV Rank25.4%12.2%39.7%12.2%27.8%
IV Percentile45.3%2.0%88.1%2.0%59.5%
Term Structure0.1%-1.7%4.2%2.2%0.4%
VWIV21.3%18.5%24.0%19.1%23.2%
Skew 25d2.9%0.8%4.1%0.8%2.5%
Skew 10d7.2%-3.6%18.0%1.3%3.8%
Call IV 25d19.8%17.8%21.9%17.8%20.9%
Put IV 25d22.7%18.6%25.5%18.6%23.4%
Bid-Ask Spread %86.8572.3897.5092.1574.78
Gamma HHI0.290.180.480.230.34
Net GEX1.1M157.8K2.2M709.3K2.2M
Net DEX-11.8M-21.4M-2.2M-5.8M-21.1M
Net VEX-74.5K-96.5K-48.4K-52.7K-96.5K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.390.012.450.100.03
Total Volume1,103.85794,2891724,289
Total OI15,918.9513,08318,54713,20718,547

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2026-01-02$38.70$39.0016.5%4.7%11.4%12.2%19.1%0.8%2.2%709.3K-5.8M-52.7K0.1092.15N/AN/A156168,9864,221
2026-01-05$38.03$37.0018.5%5.5%13.0%18.7%18.6%3.2%-0.2%157.8K-2.2M-48.4K0.3292.56N/AN/A208669,0324,226
2026-01-06$38.25$37.0018.8%5.4%13.2%19.7%18.5%3.1%0.0%296.9K-3.6M-50.5K0.0888.61N/AN/A1,7801369,1734,263
2026-01-07$37.68$37.0018.8%5.5%13.7%19.7%24.0%3.3%0.7%344.2K-3.0M-54.4K2.4594.15N/AN/A4711510,9284,245
2026-01-08$37.89$37.0018.8%5.6%13.8%19.9%19.0%3.2%0.2%379.0K-4.1M-55.3K0.0189.85N/AN/A1,9212410,9604,276
2026-01-09$38.02$37.0018.8%5.8%13.0%19.8%20.0%2.3%-0.5%589.4K-6.2M-62.4K0.6788.56N/AN/A21914611,9154,291
2026-01-12$37.80$37.0021.6%5.7%12.9%28.8%20.5%3.1%0.2%457.6K-5.0M-61.2K0.0786.38N/AN/A74512,0394,395
2026-01-13$38.46$37.0024.9%6.0%13.5%39.7%21.9%3.8%0.4%719.6K-7.6M-62.3K0.0187.45N/AN/A2,2433212,0324,399
2026-01-14$38.97$37.0021.0%6.0%13.8%26.9%21.6%2.7%-0.4%1.2M-12.4M-79.0K0.3995.30N/AN/A28811213,0444,416
2026-01-15$39.23$37.0020.8%6.0%14.0%26.3%21.5%2.5%4.2%1.6M-14.1M-79.2K0.3785.08N/AN/A43216013,1364,357
2026-01-16$39.64$37.0019.9%5.7%14.3%23.5%20.3%2.5%0.2%2.0M-16.9M-78.9K0.0586.41N/AN/A1,6978413,3514,449
2026-01-20$39.39$37.0022.0%6.3%14.5%30.2%21.3%2.5%-0.6%1.1M-14.8M-79.2K0.0597.50N/AN/A1,333629,2713,812
2026-01-21$39.52$37.0020.8%6.0%13.7%26.4%23.6%3.9%-0.3%1.2M-15.7M-83.3K0.9084.99N/AN/A1931749,9223,893
2026-01-22$38.97$37.0020.6%5.9%14.8%25.6%20.0%2.8%0.1%1.1M-12.5M-81.7K0.1886.47N/AN/A2,21039210,0383,921
2026-01-23$38.56$37.0021.2%6.1%15.4%27.7%21.8%3.8%-0.7%1.4M-12.3M-89.2K0.7179.85N/AN/A81958012,1714,361
2026-01-26$39.51$38.0020.5%5.9%17.5%25.2%22.8%3.7%0.2%1.8M-18.0M-90.4K0.2378.79N/AN/A78918312,0804,767
2026-01-27$39.61$38.0021.2%6.1%17.5%27.5%22.0%1.5%-0.3%1.9M-19.9M-94.3K0.1972.38N/AN/A1402712,8484,787
2026-01-28$39.70$38.0022.0%6.3%17.4%30.3%22.4%4.1%-1.3%1.9M-21.4M-95.5K0.7595.91N/AN/A18914112,9564,812
2026-01-29$39.54$38.0022.4%6.4%17.4%31.5%23.8%3.4%-1.7%2.0M-20.2M-96.5K0.3079.80N/AN/A45613913,1154,944
2026-01-30$39.69$38.0021.3%6.1%17.3%27.8%23.2%2.5%0.4%2.2M-21.1M-96.5K0.0374.78N/AN/A4,16912013,5185,029