COPX Options History — March 2025

In March 2025, COPX traded between $37.61 and $43.25. ATM implied volatility averaged 35.9%, placing in the 47.8% IV rank vs the trailing year. The 30-day expected move averaged 10.2%. IV traded below realized volatility by 3.1% (HV 20d: 39.0%). Max pain ranged from $40.00 to $44.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 3 of 21 days. Put/call ratio averaged 0.32.

Notable Days

  • 2025-03-25: Highest Volume — 8,165 contracts
  • 2025-03-04: Largest IV drop — 6.4% change
  • 2025-03-31: Highest IV Rank — 53.2%
  • 2025-03-13: Largest Expected Move — 11.0%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$40.76$37.61$43.25$37.61$39.19
Max Pain$40.95$40.00$44.00$40.00$42.00
ATM IV35.9%34.4%37.6%36.7%37.6%
Expected Move10.2%9.8%11.0%10.5%10.0%
HV 20d39.0%33.7%41.3%33.7%41.2%
HV 60d31.4%28.4%32.9%28.4%32.9%
IV Rank47.8%43.1%53.2%50.3%53.2%
IV Percentile73.5%62.7%84.1%79.8%84.1%
Term Structure-0.9%-5.5%2.2%-5.5%-2.5%
VWIV35.1%18.8%37.8%33.9%35.6%
Skew 25d-1.9%-5.3%-0.1%-5.3%-0.1%
Skew 10d2.8%-17.5%18.0%-17.5%1.5%
Call IV 25d36.8%35.0%38.0%35.6%38.0%
Put IV 25d34.9%30.3%38.0%30.3%38.0%
Bid-Ask Spread %57.4826.27101.1858.1232.38
Gamma HHI0.140.090.240.100.16
Net GEX802.5K36.7K1.5M36.7K868.9K
Net DEX-14.2M-25.2M-916.5K-916.5K-10.0M
Net VEX-108.1K-146.8K-87.7K-87.7K-124.3K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.320.030.790.030.36
Total Volume1,425.8572578,1653,513974
Total OI17,839.42914,18024,56215,93224,562

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2025-03-03$37.61$40.0036.7%10.5%33.7%50.3%33.9%-5.3%-5.5%36.7K-916.5K-87.7K0.0358.12N/AN/A3,40111210,0905,842
2025-03-04$37.96$40.0034.4%9.9%33.7%43.1%34.8%-1.1%-0.2%92.4K-2.3M-89.9K0.7560.66N/AN/A1471109,6735,918
2025-03-05$40.54$40.0036.4%10.4%39.2%49.4%37.0%-2.0%-0.9%502.3K-11.6M-99.4K0.1650.93N/AN/A1,4552389,6976,003
2025-03-06$40.11$40.0035.3%10.1%39.4%46.0%36.7%-2.4%0.2%507.4K-11.3M-107.7K0.0960.08N/AN/A5715010,4665,986
2025-03-07$40.05$40.0034.7%10.0%38.6%44.2%35.7%-1.5%1.5%498.5K-10.6M-106.4K0.0459.64N/AN/A9984110,4856,005
2025-03-10$38.41$40.0035.5%10.2%40.6%46.7%37.6%-3.0%2.2%149.3K-4.2M-95.8K0.0572.08N/AN/A5573010,2496,016
2025-03-11$39.42$40.0035.4%10.5%41.3%46.3%37.1%-2.5%-0.6%343.7K-7.6M-97.6K0.7966.78N/AN/A18114310,2936,008
2025-03-12$39.76$40.0035.3%10.8%40.0%45.9%37.7%-1.8%-0.5%428.7K-8.8M-98.4K0.3366.83N/AN/A34311310,2966,003
2025-03-13$40.14$40.0035.5%11.0%40.0%46.7%37.5%-2.3%-0.8%564.4K-10.7M-99.0K0.2966.92N/AN/A35410110,4885,995
2025-03-14$41.34$40.0035.8%10.6%40.2%47.5%37.8%-1.0%-1.6%829.1K-15.6M-99.9K0.4167.40N/AN/A43918110,5495,952
2025-03-17$42.28$40.0037.6%10.3%41.0%53.1%37.1%-1.1%-1.8%1.0M-19.6M-100.7K0.3770.98N/AN/A92934610,7575,907
2025-03-18$42.66$40.0037.1%10.4%40.9%51.8%32.6%-0.7%-0.8%1.1M-22.0M-99.6K0.1177.57N/AN/A6767610,8965,709
2025-03-19$43.25$40.0036.4%10.1%39.6%49.6%37.2%-1.1%-1.1%1.2M-25.2M-100.6K0.0658.96N/AN/A2,41214611,2255,737
2025-03-20$42.70$0.0036.1%10.1%39.4%48.5%18.8%-2.4%-0.9%1.4M-24.4M-110.7K0.10101.18N/AN/A5725812,8005,839
2025-03-21$41.64$44.0035.4%10.0%36.7%46.5%33.7%-1.2%-0.5%1.4M-18.1M-105.5K0.7674.60N/AN/A71154312,7785,875
2025-03-24$42.42$42.0034.9%9.8%37.1%44.8%35.0%-2.1%-1.0%831.0K-17.4M-108.0K0.5731.46N/AN/A61234710,7513,429
2025-03-25$43.22$43.0035.7%10.0%37.3%47.3%36.1%-2.8%-0.6%940.1K-20.7M-112.5K0.0436.15N/AN/A7,85331211,2953,652
2025-03-26$42.01$43.0035.5%10.0%39.2%46.7%35.7%-1.2%-0.8%1.5M-23.4M-145.7K0.1134.45N/AN/A1,79120518,8573,844
2025-03-27$41.34$43.0035.0%9.9%38.9%45.0%34.1%-2.4%-0.9%1.4M-20.9M-146.8K0.6033.63N/AN/A44927020,2023,951
2025-03-28$39.91$42.0036.8%9.9%40.7%50.6%35.8%-2.2%-1.4%1.1M-13.7M-133.3K0.6926.27N/AN/A64744920,4514,097
2025-03-31$39.19$42.0037.6%10.0%41.2%53.2%35.6%-0.1%-2.5%868.9K-10.0M-124.3K0.3632.38N/AN/A71426020,4244,138