COPX Options History — October 2025

In October 2025, COPX traded between $59.19 and $64.28. ATM implied volatility averaged 37.2%, placing in the 50.4% IV rank vs the trailing year. The 30-day expected move averaged 10.4%. IV traded below realized volatility by 0.1% (HV 20d: 37.3%). Max pain ranged from $45.00 to $60.00. Net GEX was positive for 23 of 23 trading days. Term structure was in contango for 12 of 23 days. Put/call ratio averaged 0.46.

Notable Days

2025-10-09: Highest Volume — 8,530 contracts
2025-10-13: Largest IV spike — 34.9% change
2025-10-14: Highest IV Rank — 76.4%
2025-10-28: Largest Expected Move — 11.8%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$61.77	$59.19	$64.28	$60.86	$61.69
Max Pain	$57.13	$45.00	$60.00	$45.00	$60.00
ATM IV	37.2%	31.5%	48.4%	31.5%	39.4%
Expected Move	10.4%	9.0%	11.8%	9.0%	11.3%
HV 20d	37.3%	22.2%	48.0%	24.3%	44.6%
HV 60d	29.5%	24.3%	33.4%	24.7%	32.3%
IV Rank	50.4%	37.0%	76.4%	37.0%	55.5%
IV Percentile	74.8%	44.8%	98.0%	44.8%	84.1%
Term Structure	-0.6%	-5.7%	4.1%	0.6%	-3.6%
VWIV	36.6%	31.7%	41.6%	31.7%	39.2%
Skew 25d	-2.0%	-14.1%	2.3%	-6.3%	-1.4%
Skew 10d	0.6%	-14.0%	19.9%	-5.1%	0.9%
Call IV 25d	37.1%	32.0%	42.2%	32.3%	39.4%
Put IV 25d	35.1%	18.5%	43.3%	26.0%	38.0%
Bid-Ask Spread %	63.63	51.42	91.29	86.32	70.86
Gamma HHI	0.21	0.15	0.33	0.31	0.17
Net GEX	2.7M	1.6M	3.7M	3.1M	2.5M
Net DEX	-109.7M	-158.0M	-55.8M	-119.3M	-80.9M
Net VEX	-260.0K	-325.5K	-166.5K	-166.5K	-322.1K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.46	0.05	2.87	0.31	0.06
Total Volume	2,877.304	857	8,530	1,920	3,433
Total OI	37,015.13	29,857	45,497	30,051	38,547

Daily Data (23 trading days)

Date	Price	Max Pain	ATM IV	Exp Move	HV 20d	IV Rank	VWIV	Skew 25d	Term Str	GEX	DEX	VEX	P/C	Spread %	Call Wall	Put Wall	Call Vol	Put Vol	Call OI	Put OI
2025-10-01	$60.86	$45.00	31.5%	9.0%	24.3%	37.0%	31.7%	-6.3%	0.6%	3.1M	-119.3M	-166.5K	0.31	86.32	N/A	N/A	1,469	451	25,985	4,066
2025-10-02	$60.83	$45.00	31.8%	9.1%	22.3%	37.7%	32.1%	2.3%	-0.3%	3.1M	-118.7M	-179.3K	1.21	89.91	N/A	N/A	946	1,141	26,397	4,462
2025-10-03	$62.05	$45.00	31.7%	9.1%	22.2%	37.4%	32.3%	-0.1%	0.3%	2.9M	-129.0M	-181.2K	0.30	91.29	N/A	N/A	2,064	609	26,964	5,548
2025-10-06	$61.87	$58.00	33.5%	9.6%	22.5%	41.7%	32.3%	-13.4%	4.1%	3.1M	-130.2M	-186.6K	0.15	61.17	N/A	N/A	2,216	325	28,165	6,070
2025-10-07	$61.80	$58.00	33.1%	9.2%	22.7%	40.8%	32.3%	-14.1%	3.6%	3.4M	-132.9M	-202.3K	0.09	57.58	N/A	N/A	1,125	102	29,482	6,298
2025-10-08	$64.28	$58.00	35.5%	9.5%	25.1%	46.2%	33.1%	-0.1%	1.0%	2.8M	-152.5M	-202.9K	0.05	57.41	N/A	N/A	5,486	286	29,840	6,356
2025-10-09	$63.83	$58.00	35.4%	9.7%	25.5%	46.1%	34.0%	-7.0%	0.1%	3.4M	-152.1M	-228.5K	0.32	60.93	N/A	N/A	6,468	2,062	31,878	6,561
2025-10-10	$60.52	$59.00	34.4%	9.9%	33.8%	43.7%	35.6%	-4.4%	-5.3%	2.9M	-117.7M	-248.3K	0.43	72.74	N/A	N/A	3,463	1,488	33,192	8,333
2025-10-13	$64.20	$59.00	46.4%	10.6%	38.6%	71.6%	37.2%	0.6%	1.2%	3.7M	-158.0M	-246.2K	0.10	52.80	N/A	N/A	4,091	392	34,754	8,542
2025-10-14	$61.97	$59.00	48.4%	10.8%	41.2%	76.4%	38.1%	0.1%	0.3%	3.2M	-135.9M	-265.7K	0.12	52.45	N/A	N/A	2,399	280	34,434	8,766
2025-10-15	$63.34	$59.00	37.0%	10.6%	40.6%	49.9%	37.8%	0.1%	-2.2%	3.5M	-152.5M	-261.9K	0.13	55.89	N/A	N/A	1,668	223	35,687	8,757
2025-10-16	$62.44	$60.00	36.7%	10.5%	41.1%	49.1%	38.0%	-0.5%	1.7%	3.3M	-144.4M	-275.8K	0.42	53.64	N/A	N/A	1,299	544	36,189	8,921
2025-10-17	$61.05	$59.00	36.7%	10.5%	42.4%	49.2%	37.4%	0.4%	2.3%	2.1M	-135.1M	-286.2K	0.15	53.67	N/A	N/A	2,032	308	36,340	9,157
2025-10-20	$62.53	$59.00	38.0%	10.9%	42.8%	52.2%	38.1%	0.1%	-0.4%	2.3M	-82.6M	-271.7K	0.06	51.49	N/A	N/A	1,571	95	23,896	5,961
2025-10-21	$59.19	$60.00	37.8%	10.8%	48.0%	51.7%	38.2%	-0.3%	0.5%	2.1M	-61.3M	-278.9K	1.93	51.42	N/A	N/A	1,797	3,466	24,887	6,013
2025-10-22	$59.25	$59.00	38.4%	11.0%	46.5%	53.1%	37.5%	0.9%	0.1%	1.6M	-55.8M	-291.6K	0.75	61.93	N/A	N/A	1,392	1,045	25,161	8,288
2025-10-23	$60.33	$59.00	37.9%	10.9%	46.8%	51.9%	38.3%	-1.8%	-5.7%	1.7M	-65.2M	-298.4K	0.09	62.17	N/A	N/A	1,167	110	25,017	9,284
2025-10-24	$61.07	$59.00	38.2%	11.0%	46.8%	52.7%	38.8%	-0.5%	-2.1%	1.9M	-69.6M	-312.4K	0.06	58.54	N/A	N/A	811	46	25,912	9,327
2025-10-27	$61.02	$59.00	39.5%	11.3%	44.9%	55.5%	39.6%	-0.6%	-3.9%	2.1M	-73.8M	-309.5K	0.43	64.50	N/A	N/A	1,207	518	26,495	9,355
2025-10-28	$61.76	$59.00	41.0%	11.8%	45.0%	59.2%	41.6%	-0.1%	-2.2%	2.1M	-79.0M	-313.1K	0.38	65.73	N/A	N/A	969	372	27,286	9,445
2025-10-29	$62.78	$59.00	34.5%	9.9%	44.9%	44.0%	38.5%	1.1%	-4.1%	2.5M	-92.9M	-324.4K	0.17	64.71	N/A	N/A	2,017	348	27,502	9,587
2025-10-30	$61.98	$59.00	39.8%	11.4%	45.2%	56.2%	40.1%	-1.2%	-0.3%	2.4M	-84.5M	-325.5K	2.87	66.24	N/A	N/A	743	2,134	28,420	9,821
2025-10-31	$61.69	$60.00	39.4%	11.3%	44.6%	55.5%	39.2%	-1.4%	-3.6%	2.5M	-80.9M	-322.1K	0.06	70.86	N/A	N/A	3,233	200	28,634	9,913