COPX Options History — August 2023

In August 2023, COPX traded between $36.00 and $40.84. ATM implied volatility averaged 29.5%, placing in the 16.0% IV rank vs the trailing year. The 30-day expected move averaged 8.5%. IV traded above realized volatility by 2.3% (HV 20d: 27.3%). Max pain ranged from $38.00 to $40.00. Net GEX was positive for 15 of 23 trading days. Term structure was in contango for 20 of 23 days. Put/call ratio averaged 1.44.

Notable Days

  • 2023-08-04: Highest Volume — 5,209 contracts
  • 2023-08-29: Largest IV drop — 7.9% change
  • 2023-08-07: Highest IV Rank — 23.2%
  • 2023-08-15: Largest Expected Move — 9.0%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$37.96$36.00$40.84$40.84$37.83
Max Pain$39.43$38.00$40.00$39.00$38.00
ATM IV29.5%26.0%31.6%30.1%26.4%
Expected Move8.5%7.5%9.0%8.6%7.6%
HV 20d27.3%22.7%34.5%33.2%22.7%
HV 60d30.6%28.1%33.6%33.6%28.1%
IV Rank16.0%3.5%23.2%18.0%5.1%
IV Percentile16.1%3.2%31.3%14.3%5.2%
Term Structure0.8%-1.3%2.1%-0.1%1.6%
VWIV30.2%25.9%35.4%30.7%25.9%
Skew 25d0.9%-0.4%2.3%0.2%1.0%
Skew 10d1.8%-2.1%7.7%1.1%7.7%
Call IV 25d29.4%25.7%31.5%30.6%25.7%
Put IV 25d30.3%26.7%32.3%30.7%26.7%
Bid-Ask Spread %31.2110.3061.2022.4510.30
Gamma HHI0.160.100.530.120.14
Net GEX-7.5K-797.7K376.5K222.9K127.3K
Net DEX-98.2K-4.5M4.7M-4.5M-931.8K
Net VEX-32.1K-39.1K-29.4K-30.6K-32.2K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.440.0013.410.540.16
Total Volume694.565755,209638123
Total OI11,858.4356,71914,2686,71913,053

Daily Data (23 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2023-08-01$40.84$39.0030.1%8.6%33.2%18.0%30.7%0.2%-0.1%222.9K-4.5M-30.6K0.5422.45N/AN/A4152233,6693,050
2023-08-02$39.73$40.0031.0%8.9%34.5%21.2%31.3%2.3%-1.3%145.9K-2.6M-32.5K0.1634.26N/AN/A8061323,9743,238
2023-08-03$40.04$40.0030.1%8.7%31.6%18.1%31.1%0.5%0.7%97.1K-2.5M-31.6K0.6230.49N/AN/A86533,7253,330
2023-08-04$40.00$40.0029.6%8.8%30.3%16.1%35.4%-0.2%0.5%110.7K-2.6M-31.5K0.0032.15N/AN/A5,185243,7813,354
2023-08-07$39.95$40.0031.6%8.7%30.3%23.2%32.9%-0.4%0.9%376.5K-4.1M-39.1K0.1737.54N/AN/A150258,9543,374
2023-08-08$39.45$40.0031.4%8.7%30.7%22.5%33.5%0.7%0.8%269.8K-2.7M-37.8K13.4136.54N/AN/A821,1009,0723,399
2023-08-09$39.25$40.0030.4%8.7%28.0%18.9%31.1%0.6%0.5%180.5K-2.2M-37.9K0.3321.03N/AN/A3971319,0874,140
2023-08-10$38.84$40.0029.5%8.5%25.9%16.0%31.5%0.9%0.7%50.6K-1.0M-35.1K5.1424.93N/AN/A814169,1654,176
2023-08-11$38.44$40.0029.4%8.4%25.5%15.5%27.8%1.1%1.0%-56.0K-178.5K-32.6K2.1324.11N/AN/A3387209,2084,068
2023-08-14$37.81$40.0030.7%8.8%25.7%20.1%31.3%0.2%0.3%-149.6K935.7K-29.4K0.9637.59N/AN/A3783649,1013,678
2023-08-15$36.45$40.0031.5%9.0%28.3%22.7%32.3%0.6%0.0%-374.6K4.0M-30.3K2.3722.30N/AN/A2726459,2944,010
2023-08-16$36.15$40.0031.1%8.9%28.3%21.6%31.5%1.2%-0.4%-373.8K4.4M-29.9K1.9037.91N/AN/A701339,3374,019
2023-08-17$36.20$40.0030.8%8.8%28.4%20.2%31.2%0.2%1.0%-446.9K4.4M-30.0K0.2013.96N/AN/A8441729,3864,063
2023-08-18$36.00$40.0029.3%8.4%28.3%15.1%30.6%1.8%1.4%-797.7K4.7M-30.4K0.5057.44N/AN/A45322710,1694,099
2023-08-21$36.50$39.0029.2%8.4%28.7%14.9%29.0%1.9%0.5%-2.6K1.3M-30.2K0.1415.96N/AN/A255369,1203,060
2023-08-22$36.77$39.0029.1%8.3%23.0%14.5%29.0%1.1%1.5%35.4K705.0K-31.4K0.3739.07N/AN/A108409,2573,089
2023-08-23$37.30$39.0029.7%8.5%24.0%16.6%29.7%1.1%0.9%89.0K-223.3K-32.5K0.4755.03N/AN/A206979,2983,093
2023-08-24$36.39$39.0029.6%8.5%25.0%16.1%30.3%1.4%0.7%5.8K1.2M-30.9K0.9234.87N/AN/A39369,3383,119
2023-08-25$36.45$39.0028.0%8.0%23.8%10.4%27.6%1.2%2.1%-5.5K1.2M-30.4K0.2619.83N/AN/A121319,3503,131
2023-08-28$36.90$39.0028.6%8.2%22.9%12.8%28.3%1.1%0.9%26.0K700.4K-29.7K0.2161.20N/AN/A113249,3753,140
2023-08-29$37.90$38.0026.4%7.6%24.7%4.9%26.0%1.2%1.8%137.9K-1.0M-30.8K1.2016.20N/AN/A1772139,4343,158
2023-08-30$37.92$38.0026.0%7.5%23.0%3.5%26.5%0.9%1.9%158.5K-1.2M-31.8K0.8532.66N/AN/A2351999,5473,262
2023-08-31$37.83$38.0026.4%7.6%22.7%5.1%25.9%1.0%1.6%127.3K-931.8K-32.2K0.1610.30N/AN/A106179,6463,407