COAL Options History — September 2025

In September 2025, COAL traded between $20.05 and $23.31. ATM implied volatility averaged 54.1%. The 30-day expected move averaged 15.1%. IV traded below realized volatility by 13.2% (HV 20d: 67.2%). Max pain ranged from $18.00 to $21.00. Net GEX was positive for 11 of 21 trading days. Term structure was in contango for 6 of 21 days. Put/call ratio averaged 0.00.

Notable Days

  • 2025-09-18: Highest Volume — 120 contracts
  • 2025-09-09: Largest IV drop — 41.1% change
  • 2025-09-02: Largest Expected Move — 21.9%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$21.50$20.05$23.31$20.13$22.20
Max Pain$20.54$18.00$21.00$18.00$21.00
ATM IV54.1%40.6%76.3%76.3%50.8%
Expected Move15.1%11.8%21.9%21.9%14.6%
HV 20d67.2%48.3%72.5%69.8%48.3%
HV 60d59.7%57.7%61.9%58.1%61.6%
Term Structure-8.2%-34.9%14.9%-20.7%-30.3%
VWIV38.0%21.5%51.6%41.0%51.6%
Skew 25d2.9%-34.0%48.7%-4.8%-16.4%
Skew 10d5.3%-22.7%32.1%-0.1%32.1%
Call IV 25d47.5%29.5%73.7%44.9%53.8%
Put IV 25d50.4%30.4%84.3%40.2%37.4%
Bid-Ask Spread %131.13118.41144.43138.84129.40
Gamma HHI0.390.300.650.340.33
Net GEX-443-9.9K10.0K-6.0K10.0K
Net DEX-192.7K-436.1K15.5K15.5K-430.5K
Net VEX-1.2K-1.8K-511-1.1K-1.6K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.000.000.010.000.00
Total Volume19.1430120129
Total OI487.19415656415656

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2025-09-02$20.13$18.0076.3%21.9%69.8%0.0%0.0%-4.8%-20.7%-6.0K15.5K-1.1K0.00138.84N/AN/A10104311
2025-09-03$20.60$18.0059.7%17.1%70.2%0.0%0.0%-3.3%-6.0%-7.5K-16.6K-9720.00135.76N/AN/A10104311
2025-09-04$20.05$0.0053.4%12.1%69.0%0.0%0.0%0.9%-19.9%-8.1K6.1K-9700.00131.32N/AN/A20104311
2025-09-05$21.24$0.0057.5%14.5%72.1%0.0%0.0%-1.1%-2.8%-8.4K-100.4K-6650.00138.05N/AN/A00106311
2025-09-08$20.93$0.0069.0%12.0%72.2%0.0%0.0%0.8%14.9%-7.6K-90.5K-5600.00136.63N/AN/A70106311
2025-09-09$20.95$0.0040.6%16.3%72.0%0.0%0.0%-23.2%-2.7%-6.6K-124.6K-5110.00133.09N/AN/A00113311
2025-09-10$20.95$0.0047.1%13.5%71.7%0.0%0.0%22.6%7.7%-7.5K-21.6K-1.0K0.00126.88N/AN/A00113311
2025-09-11$20.95$0.0058.9%16.9%71.7%0.0%0.0%-1.1%-3.4%-9.9K-85.3K-6820.00144.43N/AN/A200113311
2025-09-12$20.75$0.0059.5%17.0%68.9%0.0%0.0%35.0%-9.9%-7.7K-90.0K-8630.00135.43N/AN/A00133311
2025-09-15$20.83$0.0041.2%11.8%68.9%0.0%41.0%-28.0%5.7%-3.4K-83.8K-9840.01128.92N/AN/A1001133311
2025-09-16$21.30$21.0047.8%13.7%69.3%0.0%0.0%9.6%-2.4%2.2K-203.8K-1.2K0.00120.96N/AN/A200227311
2025-09-17$20.82$21.0042.1%12.1%69.7%0.0%0.0%-34.0%9.8%3.0K-154.6K-1.4K0.00124.51N/AN/A00245311
2025-09-18$21.89$21.0051.0%14.6%71.4%0.0%0.0%0.3%5.7%2.4K-272.2K-1.2K0.00131.39N/AN/A1200245311
2025-09-19$22.48$21.0043.6%12.5%68.5%0.0%0.0%41.8%11.2%6.3K-344.5K-1.7K0.00130.17N/AN/A00288311
2025-09-22$23.24$21.0057.1%16.4%69.1%0.0%21.5%48.7%-2.6%4.7K-365.7K-1.8K0.00132.44N/AN/A20285210
2025-09-23$23.31$21.0063.0%18.1%69.1%0.0%0.0%20.0%-9.8%2.9K-350.8K-1.8K0.00126.17N/AN/A00287210
2025-09-24$22.07$21.0065.4%18.8%72.5%0.0%0.0%-8.9%-31.5%10.0K-287.0K-1.5K0.00132.12N/AN/A100287210
2025-09-25$23.05$21.0054.5%15.6%62.9%0.0%0.0%22.0%-16.9%5.7K-436.1K-1.5K0.00134.97N/AN/A80297210
2025-09-26$22.00$21.0051.9%14.9%53.2%0.0%0.0%4.5%-33.0%6.8K-311.4K-1.7K0.00118.41N/AN/A10305210
2025-09-29$21.68$21.0045.0%12.9%51.2%0.0%51.6%-24.3%-34.9%9.3K-298.9K-1.7K0.01123.92N/AN/A791366210
2025-09-30$22.20$21.0050.8%14.6%48.3%0.0%0.0%-16.4%-30.3%10.0K-430.5K-1.6K0.00129.40N/AN/A290445211