COPX Options History — January 2025

In January 2025, COPX traded between $37.95 and $40.25. ATM implied volatility averaged 31.7%, placing in the 34.7% IV rank vs the trailing year. The 30-day expected move averaged 9.0%. IV traded above realized volatility by 7.7% (HV 20d: 23.9%). Max pain ranged from $39.00 to $40.00. Net GEX was positive for 15 of 20 trading days. Term structure was in contango for 16 of 20 days. Put/call ratio averaged 1.59.

Notable Days

  • 2025-01-22: Highest Volume — 2,099 contracts
  • 2025-01-14: Largest IV spike — 33.8% change
  • 2025-01-14: Highest IV Rank — 58.0%
  • 2025-01-16: Largest Expected Move — 9.5%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$39.20$37.95$40.25$38.48$38.36
Max Pain$39.55$39.00$40.00$40.00$40.00
ATM IV31.7%25.4%39.1%30.3%30.6%
Expected Move9.0%7.3%9.5%8.7%8.8%
HV 20d23.9%17.2%30.0%28.3%22.8%
HV 60d30.5%29.8%31.7%31.7%30.9%
IV Rank34.7%14.9%58.0%30.4%31.2%
IV Percentile46.5%17.5%90.9%40.5%36.1%
Term Structure1.7%-0.6%12.5%2.2%1.7%
VWIV31.8%25.3%34.0%31.2%31.1%
Skew 25d-0.5%-2.2%2.3%-2.2%-1.2%
Skew 10d0.7%-10.0%12.6%-5.0%-0.6%
Call IV 25d32.4%30.3%34.6%32.3%31.9%
Put IV 25d31.8%29.9%33.8%30.1%30.7%
Bid-Ask Spread %62.1244.7277.5466.3070.65
Gamma HHI0.200.120.770.230.13
Net GEX321.9K-161.5K2.4M118.7K-148.1K
Net DEX-607.6K-5.5M2.7M2.5M1.7M
Net VEX-43.9K-56.8K-33.6K-33.7K-54.8K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.590.026.390.280.65
Total Volume7091622,099236162
Total OI12,062.97,13214,89212,15311,816

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2025-01-02$38.48$40.0030.3%8.7%28.3%30.4%31.2%-2.2%2.2%118.7K2.5M-33.7K0.2866.30N/AN/A185518,7393,414
2025-01-03$39.02$40.0030.3%8.7%29.1%30.4%30.7%-0.1%0.6%210.0K1.1M-34.6K0.8674.12N/AN/A105908,8533,434
2025-01-06$39.70$39.0033.2%9.3%30.0%39.5%31.0%-0.5%0.0%330.1K-1.1M-34.7K0.4551.29N/AN/A3661638,8773,475
2025-01-07$39.05$39.0032.0%9.0%29.9%35.7%32.4%-0.7%0.4%218.8K1.1M-33.6K0.6158.62N/AN/A3992429,1053,490
2025-01-08$39.42$39.0032.4%9.1%26.3%36.8%31.8%-0.0%1.7%346.5K-216.1K-35.0K0.0269.18N/AN/A1,704279,3113,502
2025-01-10$39.09$39.0032.4%9.4%26.3%36.8%33.3%-1.4%-0.1%373.8K-619.1K-42.4K1.5068.61N/AN/A13019510,8843,507
2025-01-13$38.98$39.0029.3%9.5%26.3%27.1%33.6%-0.0%0.5%334.2K50.9K-39.7K2.2462.06N/AN/A6314110,9293,586
2025-01-14$39.23$39.0039.1%9.5%24.9%58.0%34.0%-0.4%-0.2%426.4K-579.6K-39.1K1.0549.72N/AN/A18619510,9253,590
2025-01-15$39.78$39.0033.1%9.5%24.5%39.0%32.9%1.1%-0.6%730.6K-3.0M-40.7K1.2863.17N/AN/A19625011,0483,760
2025-01-16$39.70$39.0033.3%9.5%23.7%39.7%33.3%-1.6%0.5%909.3K-3.1M-39.9K6.3949.89N/AN/A1851,18311,1323,760
2025-01-17$39.91$39.0032.9%9.4%23.4%38.6%32.8%2.3%-0.4%2.4M-5.5M-39.8K2.4255.70N/AN/A6111,47811,1803,368
2025-01-21$40.25$40.0031.9%9.2%17.2%35.4%32.5%-1.3%0.7%211.9K-3.9M-45.4K0.8944.72N/AN/A5494904,6352,497
2025-01-22$39.22$40.0025.4%7.3%20.0%14.9%32.6%-2.1%12.5%123.5K-1.8M-46.7K6.2166.06N/AN/A2911,8085,0522,892
2025-01-23$39.46$40.0031.6%9.0%18.8%34.3%31.7%0.0%0.8%55.5K-1.2M-51.8K0.5457.75N/AN/A2111145,1514,681
2025-01-24$39.90$40.0030.8%8.8%18.9%32.1%30.6%-0.9%10.1%99.2K-2.3M-53.1K3.5962.56N/AN/A993555,2694,762
2025-01-27$39.12$40.0031.7%9.1%20.2%34.8%32.2%-0.1%1.9%-43.4K95.0K-50.6K0.1758.00N/AN/A6511115,2985,075
2025-01-28$37.95$40.0031.2%9.0%22.8%33.3%31.0%-1.6%0.3%-161.5K2.7M-49.7K0.6564.43N/AN/A4042645,8265,159
2025-01-29$38.51$40.0030.9%8.9%23.3%32.2%31.1%-0.9%1.6%-89.9K1.0M-55.7K1.5577.54N/AN/A1181836,1385,390
2025-01-30$38.87$40.0031.1%8.9%22.2%32.9%25.3%0.7%0.4%-39.8K747.9K-56.8K0.4672.00N/AN/A154716,1985,550
2025-01-31$38.36$40.0030.6%8.8%22.8%31.2%31.1%-1.2%1.7%-148.1K1.7M-54.8K0.6570.65N/AN/A98646,2575,559