CNR Options History — March 2021

In March 2021, CNR traded between $11.49 and $14.09. ATM implied volatility averaged 65.9%, placing in the 21.9% IV rank vs the trailing year. The 30-day expected move averaged 18.7%. IV traded above realized volatility by 4.0% (HV 20d: 62.0%). Max pain ranged from $10.00 to $12.50. Net GEX was positive for 23 of 23 trading days. Term structure was in contango for 20 of 23 days. Put/call ratio averaged 0.29.

Notable Days

  • 2021-03-18: Highest Volume — 7,745 contracts
  • 2021-03-04: Largest IV drop — 32.3% change
  • 2021-03-03: Highest IV Rank — 52.2%
  • 2021-03-03: Largest Expected Move — 28.9%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$12.98$11.49$14.09$11.80$14.07
Max Pain$12.07$10.00$12.50$10.00$12.50
ATM IV65.9%50.9%100.7%87.9%50.9%
Expected Move18.7%14.6%28.9%25.2%14.6%
HV 20d62.0%45.9%73.4%48.9%70.9%
HV 60d59.5%52.5%64.2%52.5%64.2%
IV Rank21.9%6.6%52.2%41.6%6.6%
IV Percentile21.9%2.4%81.7%60.7%2.4%
Term Structure2.0%-21.6%11.7%-11.9%8.9%
VWIV65.9%51.9%107.4%90.0%51.9%
Skew 25d0.3%-11.9%7.9%3.4%7.9%
Skew 10d4.9%-19.0%30.1%30.1%18.3%
Call IV 25d65.9%49.3%106.7%89.0%49.3%
Put IV 25d66.2%44.2%104.2%92.4%57.3%
Bid-Ask Spread %35.989.2274.1540.0317.59
Gamma HHI0.470.310.730.320.57
Net GEX280.1K62.4K528.4K296.7K297.1K
Net DEX-14.4M-25.1M-4.6M-11.8M-11.4M
Net VEX-34.9K-43.5K-27.7K-30.5K-43.5K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.290.011.240.030.12
Total Volume2,057.7391427,745646614
Total OI31,692.8719,05241,48731,92223,943

Daily Data (23 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2021-03-01$11.80$10.0087.9%25.2%48.9%41.6%90.0%3.4%-11.9%296.7K-11.8M-30.5K0.0340.03N/AN/A6262027,6884,234
2021-03-02$11.49$10.0091.5%26.2%47.5%44.6%93.5%-1.0%-17.8%287.2K-10.9M-29.1K0.7236.64N/AN/A29220927,6294,234
2021-03-03$11.59$10.00100.7%28.9%45.9%52.2%107.4%-2.5%-21.6%289.6K-11.9M-29.9K0.0930.35N/AN/A5,64248927,5234,438
2021-03-04$11.96$10.0068.2%18.7%47.1%25.2%65.6%-0.0%5.1%343.7K-13.6M-34.4K0.0774.15N/AN/A4,83735832,3335,022
2021-03-05$12.72$12.5064.3%18.5%49.8%22.1%65.5%0.2%11.7%323.9K-16.9M-31.5K0.0645.87N/AN/A5283229,6195,311
2021-03-08$14.09$12.5078.9%19.5%60.7%34.1%71.1%-1.4%2.3%513.0K-25.1M-37.1K0.1141.36N/AN/A3,08133829,5095,299
2021-03-09$13.07$12.5073.7%19.4%63.9%29.8%69.4%3.7%3.9%410.4K-18.9M-34.7K0.7230.22N/AN/A2,5461,83930,6225,292
2021-03-10$13.18$12.5066.1%18.9%62.1%23.5%67.0%0.7%2.9%397.1K-18.9M-36.4K0.4230.80N/AN/A58424531,1766,903
2021-03-11$13.66$12.5064.4%18.5%62.1%22.1%64.4%-1.3%3.8%493.9K-21.4M-35.8K0.1820.53N/AN/A5119230,9106,806
2021-03-12$13.79$12.5065.4%18.7%61.8%22.9%66.0%-0.9%3.5%528.4K-22.1M-36.3K0.0726.46N/AN/A1,97514830,9326,857
2021-03-15$13.80$12.5065.1%18.7%61.8%22.7%65.6%-1.1%2.3%513.8K-21.7M-32.7K0.0135.55N/AN/A497331,3956,871
2021-03-16$13.27$12.5062.6%17.9%62.6%20.6%63.2%1.5%4.7%62.4K-18.9M-27.7K0.2864.48N/AN/A53714830,9726,874
2021-03-17$13.44$12.5061.7%17.7%62.6%19.8%61.4%3.0%6.8%111.5K-19.5M-29.6K0.0755.14N/AN/A1591131,3126,775
2021-03-18$13.11$12.5064.2%18.4%62.8%21.9%64.1%2.5%0.6%140.4K-18.4M-28.7K0.0456.16N/AN/A7,48226331,3196,787
2021-03-19$12.94$12.5061.0%17.5%63.0%14.8%66.4%3.7%3.2%139.5K-20.0M-32.7K0.0432.05N/AN/A4,75120034,6966,791
2021-03-22$13.36$12.5055.0%15.8%63.6%10.4%57.1%0.7%5.4%173.2K-8.4M-36.7K0.0960.51N/AN/A3,86733515,2683,784
2021-03-23$12.14$12.5053.2%15.3%73.4%8.7%54.9%-0.1%4.8%151.1K-4.6M-32.0K1.249.22N/AN/A8651,07417,6994,093
2021-03-24$12.49$12.5054.0%15.5%73.2%9.6%54.4%-11.9%4.6%157.3K-5.4M-38.0K0.7034.09N/AN/A46732717,9695,098
2021-03-25$12.90$12.5054.8%15.7%70.8%10.4%52.5%-2.3%3.4%179.0K-6.7M-40.5K0.5531.49N/AN/A49527118,1765,312
2021-03-26$13.04$12.5054.7%15.7%70.4%10.4%54.4%-5.0%6.2%192.6K-7.4M-41.7K0.3010.25N/AN/A1715118,4665,343
2021-03-29$13.05$12.5060.8%17.4%70.3%16.3%56.1%1.4%5.7%202.8K-7.8M-41.2K0.4429.63N/AN/A1436318,4685,294
2021-03-30$13.54$12.5057.5%16.5%70.1%13.0%53.1%5.4%7.7%238.1K-9.2M-41.6K0.2715.00N/AN/A1123018,5395,355
2021-03-31$14.07$12.5050.9%14.6%70.9%6.6%51.9%7.9%8.9%297.1K-11.4M-43.5K0.1217.59N/AN/A5496518,5785,365