COPX Options History — September 2023

In September 2023, COPX traded between $35.33 and $38.28. ATM implied volatility averaged 28.1%, placing in the 10.9% IV rank vs the trailing year. The 30-day expected move averaged 8.0%. IV traded above realized volatility by 3.8% (HV 20d: 24.3%). Max pain ranged from $38.00 to $38.00. Net GEX was positive for 11 of 20 trading days. Term structure was in contango for 20 of 20 days. Put/call ratio averaged 1.18.

Notable Days

  • 2023-09-06: Highest Volume — 658 contracts
  • 2023-09-11: Largest IV spike — 20.7% change
  • 2023-09-12: Highest IV Rank — 23.8%
  • 2023-09-27: Largest Expected Move — 8.8%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$37.08$35.33$38.28$38.28$36.42
Max Pain$38.00$38.00$38.00$38.00$38.00
ATM IV28.1%25.9%31.8%26.1%27.7%
Expected Move8.0%7.5%8.8%7.5%7.9%
HV 20d24.3%22.3%26.3%23.3%24.4%
HV 60d27.8%26.6%28.4%28.1%26.6%
IV Rank10.9%3.2%23.8%3.8%9.4%
IV Percentile14.2%2.8%42.9%4.0%11.9%
Term Structure1.4%0.1%2.6%2.0%0.1%
VWIV28.1%25.6%30.3%25.6%27.8%
Skew 25d1.1%-0.4%2.9%0.8%0.4%
Skew 10d1.4%-3.6%5.3%-3.6%0.2%
Call IV 25d27.7%26.0%30.1%26.0%27.7%
Put IV 25d28.8%26.8%32.0%26.8%28.0%
Bid-Ask Spread %34.2912.9853.8453.0145.26
Gamma HHI0.110.090.170.170.11
Net GEX37.4K-105.6K203.8K203.4K-50.8K
Net DEX297.7K-2.3M3.3M-2.0M1.7M
Net VEX-28.2K-32.8K-23.8K-32.8K-24.0K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.180.154.270.160.88
Total Volume268.8100658438288
Total OI10,174.356,40113,81413,0926,865

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2023-09-01$38.28$38.0026.1%7.5%23.3%3.8%25.6%0.8%2.0%203.4K-2.0M-32.8K0.1653.01N/AN/A377619,6703,422
2023-09-05$38.01$38.0028.4%8.1%23.4%12.0%28.4%1.1%1.9%166.5K-1.3M-30.9K0.6725.96N/AN/A2501679,7333,401
2023-09-06$37.77$38.0028.1%8.0%23.1%11.0%28.1%1.2%1.8%130.4K-876.6K-31.8K0.1533.57N/AN/A574849,9013,544
2023-09-07$36.98$38.0027.5%8.1%24.1%8.6%28.6%1.3%1.6%35.5K419.8K-31.9K0.6620.16N/AN/A644210,1263,568
2023-09-08$36.61$38.0025.9%8.0%24.0%3.2%28.4%0.9%1.7%-54.3K1.3M-30.1K0.4148.17N/AN/A712910,1193,568
2023-09-11$37.66$38.0031.3%8.0%26.3%22.0%27.8%0.3%2.3%113.4K-821.4K-30.5K1.4038.96N/AN/A608410,0923,575
2023-09-12$37.19$38.0031.8%7.9%26.0%23.8%27.9%0.8%1.7%10.2K229.3K-29.4K4.2743.53N/AN/A3314110,1903,615
2023-09-13$36.95$38.0026.4%7.6%22.5%4.9%27.3%1.4%2.6%-47.2K733.4K-28.0K1.0322.80N/AN/A676910,1853,579
2023-09-14$38.13$38.0027.0%7.7%24.7%7.1%27.0%0.6%1.5%191.4K-2.0M-29.2K1.7235.35N/AN/A15626910,1633,517
2023-09-15$38.25$38.0027.0%7.7%24.7%7.1%27.1%0.5%1.6%203.8K-2.3M-29.2K0.4821.10N/AN/A1808710,2013,613
2023-09-18$37.88$38.0027.1%7.8%24.9%7.4%27.3%0.8%1.3%74.3K-1.1M-28.7K1.0234.88N/AN/A92943,3903,011
2023-09-19$37.59$38.0026.9%7.7%24.8%6.5%27.7%-0.4%1.5%53.0K-559.5K-28.4K0.4218.08N/AN/A85363,4513,069
2023-09-20$37.45$38.0026.6%7.6%24.7%5.8%26.9%0.5%1.1%44.0K-300.3K-27.9K0.7453.27N/AN/A3102303,4913,087
2023-09-21$36.55$38.0027.9%8.0%25.7%10.1%30.3%1.4%1.4%-6761.0M-26.7K0.7512.98N/AN/A116873,7213,029
2023-09-22$36.47$38.0028.3%8.1%24.2%11.7%28.1%1.7%1.0%-29.9K1.5M-26.2K3.7041.70N/AN/A301113,6863,153
2023-09-25$36.28$38.0029.0%8.3%24.3%14.1%29.0%2.9%0.2%-48.7K2.0M-25.8K0.3453.84N/AN/A146503,6903,243
2023-09-26$35.58$38.0029.4%8.4%24.7%15.5%29.7%1.2%1.1%-80.5K2.9M-24.9K0.6751.35N/AN/A2351573,7613,272
2023-09-27$35.33$38.0030.6%8.8%22.3%19.7%29.6%1.9%0.7%-105.6K3.3M-23.8K3.7014.74N/AN/A612263,6693,251
2023-09-28$36.14$38.0029.0%8.3%24.2%14.0%28.9%2.1%1.1%-60.8K2.0M-24.4K0.4717.12N/AN/A107503,6613,205
2023-09-29$36.42$38.0027.7%7.9%24.4%9.4%27.8%0.4%0.1%-50.8K1.7M-24.0K0.8845.26N/AN/A1531353,6673,198