COPX Options History — December 2023

In December 2023, COPX traded between $34.33 and $38.79. ATM implied volatility averaged 25.7%, placing in the 13.2% IV rank vs the trailing year. The 30-day expected move averaged 7.1%. IV traded below realized volatility by 4.6% (HV 20d: 30.3%). Max pain ranged from $35.00 to $37.00. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 19 of 20 days. Put/call ratio averaged 0.78.

Notable Days

  • 2023-12-19: Highest Volume — 998 contracts
  • 2023-12-11: Largest IV spike — 21.8% change
  • 2023-12-11: Highest IV Rank — 30.0%
  • 2023-12-27: Largest Expected Move — 7.7%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$36.57$34.33$38.79$35.83$37.61
Max Pain$36.05$35.00$37.00$35.00$37.00
ATM IV25.7%23.1%31.6%24.4%25.6%
Expected Move7.1%6.6%7.7%7.0%7.3%
HV 20d30.3%27.9%32.1%30.4%31.9%
HV 60d28.4%27.3%29.5%28.0%28.2%
IV Rank13.2%3.3%30.0%6.9%15.2%
IV Percentile12.7%2.4%62.7%2.8%10.3%
Term Structure2.1%-0.3%3.9%-0.3%3.2%
VWIV25.0%22.7%26.9%24.5%26.0%
Skew 25d-0.0%-2.4%1.8%-0.7%1.8%
Skew 10d0.2%-3.1%5.6%-1.4%5.6%
Call IV 25d25.3%23.2%27.3%25.3%25.3%
Put IV 25d25.3%23.7%27.9%24.7%27.0%
Bid-Ask Spread %54.5345.5162.7345.5150.95
Gamma HHI0.180.150.240.180.16
Net GEX195.2K45.8K329.3K155.9K129.1K
Net DEX-3.6M-7.6M549.3K-3.0M-2.8M
Net VEX-22.1K-26.5K-18.5K-26.5K-21.0K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.780.017.780.171.66
Total Volume345.2547998636234
Total OI7,9377,0888,6917,9767,199

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2023-12-01$35.83$35.0024.4%7.0%30.4%6.9%24.5%-0.7%-0.3%155.9K-3.0M-26.5K0.1745.51N/AN/A542944,5383,438
2023-12-04$35.01$36.0025.7%7.0%31.5%11.2%24.8%1.1%1.5%126.6K-1.2M-24.1K0.1251.49N/AN/A232274,4573,324
2023-12-05$34.33$36.0026.5%6.9%32.1%13.6%24.0%0.2%2.6%78.2K549.3K-22.2K7.7859.59N/AN/A685294,4263,324
2023-12-06$34.44$36.0025.4%6.9%30.2%10.3%23.7%0.5%2.7%45.8K477.4K-23.2K0.0758.03N/AN/A230154,4473,698
2023-12-07$34.83$36.0025.9%6.9%27.9%11.6%23.9%0.4%2.3%118.3K-632.6K-23.8K0.0157.10N/AN/A9014,5953,707
2023-12-08$35.36$36.0025.9%7.2%28.2%11.9%25.2%0.4%3.0%190.6K-2.4M-25.0K0.3653.11N/AN/A246894,7203,708
2023-12-11$34.98$36.0031.6%7.2%28.7%30.0%25.8%1.0%2.7%206.1K-938.8K-23.7K0.2758.60N/AN/A37104,7343,749
2023-12-12$34.61$36.0029.0%6.8%29.2%21.9%23.1%1.5%3.0%181.1K378.5K-22.1K0.2557.67N/AN/A158394,7283,754
2023-12-13$35.84$36.0023.2%6.7%28.3%3.3%23.0%0.6%3.9%329.3K-3.9M-21.7K0.0860.63N/AN/A213174,7873,763
2023-12-14$37.19$36.0026.3%7.5%30.6%14.2%26.0%-1.5%2.5%255.0K-7.6M-22.9K0.5861.19N/AN/A4892854,8803,768
2023-12-15$37.19$36.0024.3%7.0%29.8%9.4%25.3%0.5%2.1%262.6K-7.4M-22.0K0.6453.36N/AN/A1771134,8693,822
2023-12-18$37.14$36.0024.6%7.0%29.8%10.5%25.3%0.0%1.5%150.9K-4.3M-21.2K1.2353.67N/AN/A871074,0413,342
2023-12-19$38.06$36.0026.2%7.5%30.4%17.8%26.8%-1.7%1.2%144.7K-5.7M-20.3K0.3348.21N/AN/A7522463,9943,432
2023-12-20$37.41$36.0025.5%7.3%31.3%14.8%26.9%0.2%0.8%202.8K-4.8M-21.9K0.7453.90N/AN/A4543354,3453,257
2023-12-21$38.16$36.0024.7%7.1%31.6%11.2%25.4%-2.4%2.2%258.9K-6.1M-20.7K0.8062.73N/AN/A59474,4623,233
2023-12-22$38.12$36.0023.9%6.9%31.7%7.8%25.3%-2.3%3.0%285.2K-6.2M-20.0K0.2152.83N/AN/A91194,4733,261
2023-12-26$38.50$36.0023.1%6.6%30.9%4.0%22.7%-0.5%2.1%313.4K-6.9M-18.5K0.0653.34N/AN/A290174,4803,277
2023-12-27$38.79$36.0026.7%7.7%30.5%20.1%26.2%-0.9%1.2%318.1K-6.6M-19.1K0.0848.94N/AN/A215174,3313,289
2023-12-28$37.92$37.0026.2%7.5%31.7%18.0%26.6%1.4%1.5%151.7K-3.1M-21.5K0.2749.74N/AN/A184503,8093,279
2023-12-29$37.61$37.0025.6%7.3%31.9%15.2%26.0%1.8%3.2%129.1K-2.8M-21.0K1.6650.95N/AN/A881463,8853,314