COPX Options History — May 2023

In May 2023, COPX traded between $34.70 and $40.46. ATM implied volatility averaged 31.7%, placing in the 6.1% IV rank vs the trailing year. The 30-day expected move averaged 9.1%. IV traded below realized volatility by 0.8% (HV 20d: 32.4%). Max pain ranged from $39.00 to $40.00. Net GEX was positive for 13 of 22 trading days. Term structure was in contango for 11 of 22 days. Put/call ratio averaged 1.34.

Notable Days

  • 2023-05-24: Highest Volume — 990 contracts
  • 2023-05-05: Largest IV drop — 11.3% change
  • 2023-05-16: Highest IV Rank — 10.2%
  • 2023-05-04: Largest Expected Move — 9.6%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$37.53$34.70$40.46$39.53$34.70
Max Pain$39.82$39.00$40.00$40.00$39.00
ATM IV31.7%29.2%33.3%30.8%32.0%
Expected Move9.1%8.5%9.6%8.8%9.2%
HV 20d32.4%28.1%35.7%29.5%34.3%
HV 60d34.1%32.2%35.8%32.9%33.7%
IV Rank6.1%0.0%10.2%3.2%7.0%
IV Percentile13.8%0.0%24.6%4.8%18.7%
Term Structure-0.0%-1.7%1.3%0.0%-1.0%
VWIV31.9%29.6%34.3%31.5%32.3%
Skew 25d2.9%1.4%4.2%2.3%3.1%
Skew 10d5.9%2.1%9.8%5.5%7.2%
Call IV 25d30.8%29.4%32.7%30.5%31.3%
Put IV 25d33.7%31.8%36.3%32.9%34.4%
Bid-Ask Spread %37.1319.0666.1631.0756.96
Gamma HHI0.130.100.440.120.10
Net GEX61.8K-536.7K398.9K252.8K-107.4K
Net DEX1.3M-5.0M5.5M-2.5M5.5M
Net VEX-34.8K-43.3K-27.1K-43.3K-27.3K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.340.155.491.230.53
Total Volume375.9557899078508
Total OI9,564.7738,23610,5469,0209,432

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2023-05-01$39.53$40.0030.8%8.8%29.5%3.2%31.5%2.3%0.0%252.8K-2.5M-43.3K1.2331.07N/AN/A35435,6043,416
2023-05-02$38.95$40.0032.1%9.2%29.4%6.3%32.6%2.7%0.4%189.1K-1.1M-40.8K2.2962.11N/AN/A34785,6193,453
2023-05-03$38.85$40.0031.4%9.0%28.6%4.7%32.7%2.0%1.1%178.7K-939.5K-40.0K0.9866.16N/AN/A56555,6283,472
2023-05-04$38.77$40.0032.9%9.6%28.5%8.4%33.2%3.9%0.9%165.0K-843.5K-40.6K0.4835.69N/AN/A5082465,6523,504
2023-05-05$40.08$40.0029.2%8.8%30.8%0.0%31.0%2.4%0.9%331.7K-3.8M-42.6K0.6731.87N/AN/A111745,9613,608
2023-05-08$40.46$40.0030.7%8.8%30.9%3.8%30.4%2.4%0.6%398.9K-5.0M-42.0K0.3340.06N/AN/A126426,0413,626
2023-05-09$40.29$40.0029.4%8.5%28.1%0.5%29.9%2.5%0.4%385.3K-4.4M-41.0K0.3026.74N/AN/A210636,1273,654
2023-05-10$39.16$40.0031.1%8.9%29.8%4.7%29.6%4.2%-0.2%238.5K-1.4M-39.1K0.2031.59N/AN/A6561286,2933,688
2023-05-11$36.94$40.0032.8%9.4%32.9%8.9%34.1%3.2%0.2%1.4K3.6M-33.9K1.8546.07N/AN/A1643036,4353,758
2023-05-12$37.02$40.0032.4%9.3%33.0%8.0%32.3%3.8%0.5%-4.0K3.3M-34.4K1.2441.18N/AN/A821026,5173,858
2023-05-15$38.24$40.0031.9%9.2%35.7%6.9%31.6%2.9%-0.5%137.0K538.2K-36.3K1.2822.73N/AN/A1081386,5333,904
2023-05-16$37.45$40.0033.3%9.5%34.9%10.2%32.9%2.8%-0.4%23.8K2.4M-34.3K5.4945.74N/AN/A351926,5633,945
2023-05-17$37.66$40.0031.7%9.1%35.1%6.4%32.5%3.0%-0.2%63.3K2.0M-33.5K3.2120.23N/AN/A331066,5783,968
2023-05-18$36.98$40.0031.6%9.1%35.1%6.2%30.3%4.2%-0.1%-101.4K3.6M-30.6K0.9622.45N/AN/A2972856,3833,841
2023-05-19$37.00$40.0031.0%8.9%34.3%4.5%31.2%2.8%1.3%-536.7K3.4M-30.3K0.4526.44N/AN/A2961336,4383,971
2023-05-22$36.91$40.0031.8%9.1%34.3%6.4%31.9%2.9%-1.7%54.0K2.0M-31.0K1.5125.22N/AN/A1882834,9413,295
2023-05-23$36.02$40.0032.3%9.3%33.0%7.8%34.3%2.5%-0.9%-10.7K3.5M-29.5K1.0552.54N/AN/A3033175,0443,483
2023-05-24$35.02$40.0033.2%9.5%33.9%10.1%32.6%2.6%-0.8%-61.9K4.6M-28.8K0.5630.55N/AN/A6353555,1203,656
2023-05-25$34.90$39.0032.2%9.2%32.9%7.4%32.7%2.8%-0.6%-75.0K5.1M-29.0K4.4419.06N/AN/A683025,1373,846
2023-05-26$35.64$39.0030.8%8.8%34.3%4.0%30.6%1.4%0.1%-60.6K4.1M-30.8K0.3429.87N/AN/A146495,1454,063
2023-05-30$35.03$39.0032.4%9.3%34.4%8.0%32.7%2.7%-1.2%-102.3K5.2M-27.1K0.1552.52N/AN/A329495,1724,053
2023-05-31$34.70$39.0032.0%9.2%34.3%7.0%32.3%3.1%-1.0%-107.4K5.5M-27.3K0.5356.96N/AN/A3311775,3444,088