COPX Options History — March 2023

In March 2023, COPX traded between $34.58 and $40.34. ATM implied volatility averaged 35.2%, placing in the 14.1% IV rank vs the trailing year. The 30-day expected move averaged 9.8%. IV traded below realized volatility by 3.8% (HV 20d: 39.0%). Max pain ranged from $37.00 to $40.00. Net GEX was positive for 17 of 23 trading days. Term structure was in contango for 18 of 23 days. Put/call ratio averaged 1.57.

Notable Days

  • 2023-03-15: Highest Volume — 1,305 contracts
  • 2023-03-13: Largest IV spike — 24.8% change
  • 2023-03-13: Highest IV Rank — 37.6%
  • 2023-03-17: Largest Expected Move — 11.4%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$37.26$34.58$40.34$39.54$38.70
Max Pain$37.39$37.00$40.00$40.00$37.00
ATM IV35.2%30.6%44.6%30.8%32.2%
Expected Move9.8%8.8%11.4%8.8%9.2%
HV 20d39.0%31.7%44.4%34.0%38.3%
HV 60d32.2%29.1%34.0%29.1%32.8%
IV Rank14.1%2.8%37.6%3.2%6.5%
IV Percentile31.7%3.2%83.7%4.0%11.1%
Term Structure0.9%-1.8%3.4%0.5%0.3%
VWIV34.7%30.3%43.4%31.3%33.5%
Skew 25d2.8%1.1%4.9%1.4%2.7%
Skew 10d6.0%1.8%13.2%4.1%2.3%
Call IV 25d33.3%29.4%39.0%30.5%30.3%
Put IV 25d36.1%31.0%42.5%31.9%33.1%
Bid-Ask Spread %54.8316.3971.9016.3965.17
Gamma HHI0.140.110.190.130.13
Net GEX114.5K-55.6K322.7K267.8K270.1K
Net DEX-1.6M-8.8M4.6M-7.1M-5.1M
Net VEX-39.4K-45.2K-35.2K-44.4K-36.9K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.570.087.080.361.00
Total Volume417.087911,305478524
Total OI11,167.39110,06412,51710,06411,262

Daily Data (23 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2023-03-01$39.54$40.0030.8%8.8%34.0%3.2%31.3%1.4%0.5%267.8K-7.1M-44.4K0.3616.39N/AN/A3511276,3253,739
2023-03-02$39.31$40.0031.0%8.9%33.2%3.7%30.7%1.9%1.1%236.6K-6.3M-45.2K1.5819.31N/AN/A48766,3283,872
2023-03-03$40.34$40.0031.5%9.0%31.7%4.9%30.3%1.5%-1.8%322.7K-8.8M-44.6K0.4254.09N/AN/A4812036,3163,890
2023-03-06$39.30$37.0030.6%8.8%32.6%2.8%30.4%1.7%1.1%222.5K-5.9M-42.9K0.0844.69N/AN/A822646,5124,102
2023-03-07$37.45$37.0034.0%8.9%36.1%11.0%31.9%1.5%1.7%84.8K-1.3M-40.9K2.3249.77N/AN/A2315377,1174,132
2023-03-08$37.93$37.0033.6%9.0%35.2%10.1%31.6%1.1%1.3%103.3K-2.2M-43.4K1.2651.32N/AN/A1752207,1844,398
2023-03-09$36.44$37.0034.2%9.5%37.6%11.7%33.5%2.8%0.8%-18.7K1.4M-41.4K0.1942.66N/AN/A5551087,2324,509
2023-03-10$36.09$37.0035.7%9.9%37.7%15.4%34.5%2.9%1.7%-29.8K1.9M-41.6K0.9752.10N/AN/A1811757,2794,522
2023-03-13$36.47$37.0044.6%10.5%37.5%37.6%35.3%2.0%0.9%-18.8K811.3K-41.1K0.9264.81N/AN/A1091007,2924,414
2023-03-14$36.78$37.0037.2%9.4%37.3%19.2%31.9%3.0%3.4%-55.6K391.0K-39.5K0.4960.05N/AN/A162807,2754,411
2023-03-15$34.58$37.0038.7%11.1%42.2%22.9%43.4%3.5%0.1%-22.1K4.6M-35.6K2.3066.13N/AN/A3959107,2444,405
2023-03-16$34.92$37.0035.5%10.2%42.5%14.8%35.4%3.4%3.0%-29.0K4.4M-35.2K4.0664.07N/AN/A18737,5035,004
2023-03-17$35.39$37.0039.7%11.4%42.8%25.3%43.1%3.7%-0.8%37.0K2.8M-36.9K7.0858.00N/AN/A936587,5085,009
2023-03-20$36.38$37.0035.9%10.3%44.3%15.9%36.1%4.3%3.0%111.4K-833.9K-37.6K0.2659.97N/AN/A150395,9434,478
2023-03-21$36.73$37.0034.6%9.9%44.4%12.7%35.9%2.5%0.9%128.2K-1.3M-36.8K2.2352.76N/AN/A952126,0204,504
2023-03-22$36.63$37.0034.0%9.8%43.6%11.2%36.1%4.0%1.8%119.5K-1.2M-37.6K1.5460.55N/AN/A981516,0724,702
2023-03-23$36.62$37.0036.0%10.3%43.4%16.2%38.5%3.5%2.1%95.0K-925.2K-37.4K1.9940.33N/AN/A761516,0724,778
2023-03-24$36.39$37.0038.1%10.9%41.7%21.3%37.5%4.9%-0.4%74.7K-419.7K-37.5K1.4971.90N/AN/A51766,1274,825
2023-03-27$36.73$37.0037.3%10.7%40.9%19.4%37.7%2.9%-1.2%98.7K-806.2K-37.1K1.5363.08N/AN/A45696,1274,927
2023-03-28$37.42$37.0036.3%10.4%41.2%16.9%33.7%3.6%-0.7%151.1K-2.4M-37.8K0.1866.74N/AN/A111206,1154,964
2023-03-29$38.01$37.0033.5%9.6%38.8%9.8%33.2%2.1%1.2%214.4K-3.6M-36.3K2.3869.19N/AN/A842006,1654,976
2023-03-30$38.80$37.0034.0%9.8%39.5%11.2%33.5%2.8%0.0%270.3K-5.3M-38.9K1.4968.10N/AN/A1962936,2035,068
2023-03-31$38.70$37.0032.2%9.2%38.3%6.5%33.5%2.7%0.3%270.1K-5.1M-36.9K1.0065.17N/AN/A2622626,2185,044