COPX Options History — April 2023

In April 2023, COPX traded between $38.36 and $42.28. ATM implied volatility averaged 32.1%, placing in the 6.3% IV rank vs the trailing year. The 30-day expected move averaged 9.2%. IV traded above realized volatility by 3.3% (HV 20d: 28.8%). Max pain ranged from $37.00 to $42.00. Net GEX was positive for 19 of 19 trading days. Term structure was in contango for 15 of 19 days. Put/call ratio averaged 1.10.

Notable Days

2023-04-21: Highest Volume — 2,150 contracts
2023-04-05: Largest IV spike — 8.8% change
2023-04-05: Highest IV Rank — 12.8%
2023-04-05: Largest Expected Move — 9.9%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$40.01	$38.36	$42.28	$39.35	$39.44
Max Pain	$38.89	$37.00	$42.00	$37.00	$40.00
ATM IV	32.1%	30.3%	34.7%	34.4%	30.7%
Expected Move	9.2%	8.7%	9.9%	9.9%	8.8%
HV 20d	28.8%	22.6%	37.7%	37.7%	29.6%
HV 60d	32.7%	31.4%	34.1%	32.9%	33.9%
IV Rank	6.3%	1.8%	12.8%	12.2%	2.8%
IV Percentile	11.9%	0.8%	28.6%	27.0%	3.2%
Term Structure	0.8%	-0.9%	2.2%	-0.9%	1.0%
VWIV	31.9%	29.1%	35.6%	33.8%	29.1%
Skew 25d	2.4%	1.4%	4.4%	2.9%	1.7%
Skew 10d	5.0%	-1.2%	8.3%	-1.2%	4.4%
Call IV 25d	31.0%	28.6%	33.6%	32.1%	29.3%
Put IV 25d	33.5%	30.8%	37.8%	35.0%	31.0%
Bid-Ask Spread %	48.34	29.36	62.50	52.58	62.50
Gamma HHI	0.15	0.11	0.26	0.12	0.12
Net GEX	358.1K	189.7K	716.8K	340.6K	241.6K
Net DEX	-6.7M	-13.7M	-912.3K	-6.9M	-2.5M
Net VEX	-37.6K	-44.7K	-32.6K	-38.3K	-43.9K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	1.10	0.09	3.48	0.21	2.57
Total Volume	722.053	47	2,150	1,101	82
Total OI	11,218.105	8,314	14,242	11,328	8,969

Daily Data (19 trading days)

Date	Price	Max Pain	ATM IV	Exp Move	HV 20d	IV Rank	VWIV	Skew 25d	Term Str	GEX	DEX	VEX	P/C	Spread %	Call Wall	Put Wall	Call Vol	Put Vol	Call OI	Put OI
2023-04-03	$39.35	$37.00	34.4%	9.9%	37.7%	12.2%	33.8%	2.9%	-0.9%	340.6K	-6.9M	-38.3K	0.21	52.58	N/A	N/A	913	188	6,278	5,050
2023-04-04	$38.60	$37.00	31.9%	9.1%	34.0%	5.8%	32.0%	2.2%	2.2%	255.8K	-4.7M	-37.3K	0.51	38.35	N/A	N/A	136	70	6,238	5,132
2023-04-05	$38.36	$37.00	34.7%	9.9%	33.9%	12.8%	34.9%	4.4%	-0.1%	226.8K	-4.0M	-36.2K	2.60	53.07	N/A	N/A	50	130	6,287	5,170
2023-04-06	$38.61	$37.00	31.8%	9.4%	30.3%	5.7%	33.2%	3.6%	1.6%	241.3K	-4.4M	-35.7K	0.42	52.66	N/A	N/A	33	14	6,327	5,209
2023-04-10	$38.59	$37.00	34.5%	9.6%	30.0%	12.3%	35.6%	3.7%	1.3%	243.8K	-4.5M	-32.8K	3.48	53.61	N/A	N/A	21	73	6,347	5,214
2023-04-11	$40.03	$37.00	34.1%	9.5%	32.2%	11.3%	32.6%	2.7%	-0.2%	347.3K	-7.9M	-32.6K	0.09	45.10	N/A	N/A	1,486	131	6,353	5,178
2023-04-12	$40.34	$37.00	33.5%	9.6%	32.1%	9.9%	33.8%	3.5%	0.4%	418.6K	-8.4M	-33.3K	1.07	42.66	N/A	N/A	240	257	6,358	5,135
2023-04-13	$41.77	$37.00	30.8%	8.8%	22.6%	3.0%	32.8%	2.6%	1.9%	598.6K	-12.4M	-34.0K	2.90	56.52	N/A	N/A	205	594	6,457	5,242
2023-04-14	$41.59	$38.00	30.9%	8.9%	23.1%	3.5%	31.1%	2.0%	2.0%	507.6K	-11.5M	-33.5K	0.95	38.27	N/A	N/A	313	297	6,525	5,466
2023-04-17	$41.40	$40.00	32.1%	9.2%	23.5%	6.3%	29.6%	1.7%	1.4%	475.5K	-10.6M	-33.0K	0.16	60.01	N/A	N/A	358	58	6,652	5,592
2023-04-18	$42.28	$40.00	30.9%	8.9%	22.9%	3.4%	29.9%	3.4%	0.9%	716.8K	-13.7M	-32.9K	0.26	57.96	N/A	N/A	321	83	6,764	5,596
2023-04-19	$41.80	$40.00	31.3%	9.0%	23.8%	4.5%	31.4%	1.8%	1.2%	630.4K	-12.4M	-34.7K	0.79	44.25	N/A	N/A	1,095	862	7,078	5,614
2023-04-20	$41.09	$42.00	31.2%	9.0%	25.1%	4.2%	30.3%	1.6%	0.6%	388.3K	-9.8M	-40.5K	0.69	61.44	N/A	N/A	591	407	7,762	6,039
2023-04-21	$40.03	$41.00	31.2%	8.9%	27.5%	4.0%	30.8%	1.9%	0.9%	189.7K	-5.1M	-41.5K	0.47	53.83	N/A	N/A	1,459	691	7,962	6,280
2023-04-24	$40.00	$41.00	30.3%	8.7%	27.2%	1.8%	30.2%	1.4%	0.6%	299.9K	-3.5M	-44.7K	1.40	35.60	N/A	N/A	142	199	5,465	2,849
2023-04-25	$38.57	$41.00	32.8%	9.4%	30.8%	8.1%	32.6%	1.7%	-0.3%	192.0K	-912.3K	-41.9K	1.31	49.89	N/A	N/A	493	644	5,555	3,015
2023-04-26	$38.80	$40.00	31.4%	9.0%	30.3%	4.6%	31.8%	1.9%	0.3%	240.3K	-1.6M	-43.6K	1.00	29.36	N/A	N/A	350	349	5,774	3,186
2023-04-27	$39.48	$40.00	30.8%	8.8%	30.4%	3.2%	30.7%	1.6%	0.1%	248.2K	-2.5M	-44.6K	0.09	30.89	N/A	N/A	352	32	5,659	3,367
2023-04-28	$39.44	$40.00	30.7%	8.8%	29.6%	2.8%	29.1%	1.7%	1.0%	241.6K	-2.5M	-43.9K	2.57	62.50	N/A	N/A	23	59	5,595	3,374