COPX Options History — August 2025

In August 2025, COPX traded between $42.72 and $49.91. ATM implied volatility averaged 29.0%, placing in the 31.2% IV rank vs the trailing year. The 30-day expected move averaged 8.3%. IV traded above realized volatility by 2.9% (HV 20d: 26.1%). Max pain ranged from $42.00 to $46.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 11 of 21 days. Put/call ratio averaged 0.98.

Notable Days

  • 2025-08-26: Highest Volume — 3,445 contracts
  • 2025-08-12: Largest IV spike — 37.7% change
  • 2025-08-12: Highest IV Rank — 40.7%
  • 2025-08-22: Largest Expected Move — 8.6%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$46.51$42.72$49.91$42.72$49.91
Max Pain$43.67$42.00$46.00$44.00$45.00
ATM IV29.0%24.1%33.1%29.7%29.5%
Expected Move8.3%8.0%8.6%8.5%8.5%
HV 20d26.1%22.5%28.5%24.3%22.5%
HV 60d25.3%24.7%25.8%25.2%25.7%
IV Rank31.2%19.7%40.7%32.8%32.4%
IV Percentile16.6%3.6%54.0%18.7%18.7%
Term Structure-0.0%-1.2%0.7%0.1%-0.5%
VWIV29.1%28.2%30.2%30.2%30.0%
Skew 25d-1.3%-13.6%12.3%1.4%-4.3%
Skew 10d3.6%-11.0%14.5%-11.0%1.8%
Call IV 25d28.2%16.5%30.5%28.9%29.3%
Put IV 25d26.9%15.8%30.4%30.4%25.1%
Bid-Ask Spread %65.3341.1484.9777.9659.24
Gamma HHI0.150.100.220.100.22
Net GEX1.2M536.5K1.7M536.5K1.4M
Net DEX-28.8M-42.0M-12.6M-12.6M-42.0M
Net VEX-133.7K-140.2K-122.6K-122.6K-131.6K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.980.0510.190.260.20
Total Volume692.81653,445432355
Total OI19,29518,09621,58218,27021,574

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2025-08-01$42.72$44.0029.7%8.5%24.3%32.8%30.2%1.4%0.1%536.5K-12.6M-122.6K0.2677.96N/AN/A3438913,8874,383
2025-08-04$43.48$46.0028.6%8.4%24.6%30.3%29.0%12.3%0.0%697.3K-15.5M-124.0K0.2075.82N/AN/A52610614,0264,392
2025-08-05$43.92$42.0029.2%8.0%24.7%31.6%28.4%0.2%0.1%824.3K-18.2M-126.1K0.3068.19N/AN/A2457414,3334,404
2025-08-06$44.26$42.0029.9%8.1%24.3%33.4%28.5%-0.5%0.3%893.5K-19.5M-126.5K0.8479.92N/AN/A14812514,3604,408
2025-08-07$45.20$42.0028.9%8.2%25.1%31.0%29.1%-13.6%0.3%1.1M-23.6M-131.6K0.2084.97N/AN/A2925914,3964,471
2025-08-08$46.25$42.0029.0%8.1%26.3%31.3%28.4%-3.3%0.4%1.4M-29.9M-130.7K0.1065.28N/AN/A1,62915914,4524,507
2025-08-11$45.45$42.0024.1%8.1%27.0%19.7%28.9%0.0%0.3%1.7M-27.2M-135.6K0.0570.66N/AN/A1,4858015,6254,496
2025-08-12$46.46$42.0033.1%8.3%27.6%40.7%29.3%1.4%-0.0%1.5M-31.3M-134.6K3.2963.30N/AN/A22875014,8434,514
2025-08-13$47.14$44.0029.6%8.5%27.9%32.6%29.6%0.0%-0.5%1.5M-34.0M-137.8K0.5060.13N/AN/A61931214,8525,200
2025-08-14$46.55$44.0028.1%8.0%28.3%29.0%28.2%-12.3%0.6%1.5M-31.2M-135.8K0.1669.36N/AN/A5328615,1475,413
2025-08-15$47.20$44.0027.8%8.0%28.5%28.3%28.5%-1.1%0.7%1.5M-35.3M-139.5K0.1555.03N/AN/A83312215,3255,411
2025-08-18$46.72$44.0028.8%8.3%28.1%30.8%29.1%-0.4%-0.0%1.0M-28.3M-139.7K0.5841.14N/AN/A965613,8454,251
2025-08-19$46.15$44.0028.3%8.1%27.0%29.5%28.2%-1.8%-0.0%967.5K-26.3M-137.3K0.1559.41N/AN/A1552413,9224,276
2025-08-20$46.23$44.0028.3%8.1%26.8%29.5%28.8%0.4%0.5%961.7K-25.4M-134.4K0.5765.07N/AN/A533013,9154,294
2025-08-21$46.56$44.0028.6%8.2%26.3%30.2%28.6%-7.4%0.0%1.0M-26.7M-136.4K0.8662.50N/AN/A353013,9304,296
2025-08-22$48.19$44.0030.1%8.6%28.3%33.7%29.8%0.2%-1.2%1.2M-34.5M-137.0K0.1567.77N/AN/A5257713,9534,297
2025-08-25$48.21$44.0029.1%8.4%27.5%31.5%29.6%-2.1%-0.1%1.3M-35.0M-134.8K0.1557.50N/AN/A4346313,9944,257
2025-08-26$48.85$44.0029.7%8.5%27.3%32.7%29.9%2.7%-0.5%1.4M-38.2M-133.2K10.1964.23N/AN/A3083,13714,1374,270
2025-08-27$48.44$45.0029.1%8.3%23.1%31.3%30.2%-1.2%-0.2%1.1M-34.4M-138.6K0.1363.70N/AN/A1191514,1747,383
2025-08-28$48.92$45.0029.4%8.4%22.9%32.2%29.8%2.3%-0.2%1.2M-36.7M-140.2K1.4760.82N/AN/A7911614,1867,396
2025-08-29$49.91$45.0029.5%8.5%22.5%32.4%30.0%-4.3%-0.5%1.4M-42.0M-131.6K0.2059.24N/AN/A2975814,1697,405