COPX Options History — November 2025

In November 2025, COPX traded between $57.60 and $64.40. ATM implied volatility averaged 38.4%, placing in the 53.0% IV rank vs the trailing year. The 30-day expected move averaged 10.8%. IV traded above realized volatility by 0.3% (HV 20d: 38.1%). Max pain ranged from $60.00 to $61.00. Net GEX was positive for 17 of 19 trading days. Term structure was in contango for 7 of 19 days. Put/call ratio averaged 0.94.

Notable Days

  • 2025-11-21: Highest Volume — 5,884 contracts
  • 2025-11-24: Largest IV spike — 12.3% change
  • 2025-11-07: Highest IV Rank — 64.0%
  • 2025-11-05: Largest Expected Move — 12.1%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$60.59$57.60$64.40$60.14$64.40
Max Pain$60.53$60.00$61.00$60.00$61.00
ATM IV38.4%32.3%43.1%40.4%38.6%
Expected Move10.8%9.3%12.1%11.6%11.1%
HV 20d38.1%31.5%47.1%45.5%37.6%
HV 60d34.6%32.6%36.2%32.6%36.2%
IV Rank53.0%38.9%64.0%57.7%53.6%
IV Percentile78.2%49.2%90.5%86.5%81.7%
Term Structure-2.0%-7.0%3.2%-3.8%-5.1%
VWIV39.0%35.8%43.3%40.0%39.1%
Skew 25d-0.5%-8.6%3.7%0.2%-6.2%
Skew 10d3.0%-18.5%23.5%-1.5%13.4%
Call IV 25d38.8%27.2%43.5%40.5%42.7%
Put IV 25d38.3%29.5%47.2%40.7%36.4%
Bid-Ask Spread %71.0661.8583.7466.7864.13
Gamma HHI0.190.140.550.170.18
Net GEX1.6M-7.4M4.0M2.3M1.9M
Net DEX-69.1M-114.8M-24.7M-71.7M-83.7M
Net VEX-321.0K-349.2K-292.8K-334.2K-314.5K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.940.034.760.860.28
Total Volume2,095.9476045,8842,3511,900
Total OI43,966.42133,55952,20540,50034,439

Daily Data (19 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2025-11-03$60.14$60.0040.4%11.6%45.5%57.7%40.0%0.2%-3.8%2.3M-71.7M-334.2K0.8666.78N/AN/A1,2651,08630,6699,831
2025-11-04$58.02$60.0042.2%12.1%47.1%62.0%41.8%1.3%-4.8%1.5M-47.8M-323.6K2.2366.22N/AN/A1,0032,23830,73810,824
2025-11-05$59.44$60.0042.4%12.1%45.6%62.3%43.3%3.7%-7.0%1.5M-58.6M-332.2K0.5571.80N/AN/A44124130,94012,601
2025-11-06$60.31$60.0039.3%10.6%46.1%55.2%37.7%-8.6%1.0%2.1M-69.6M-335.8K0.0372.07N/AN/A1,4113930,87712,550
2025-11-07$60.69$60.0043.1%10.6%42.1%64.0%37.0%0.7%1.0%2.3M-75.4M-336.7K0.4668.83N/AN/A2,2921,05131,81812,544
2025-11-10$62.77$60.0041.5%10.5%38.2%60.3%37.8%2.9%-2.1%3.7M-107.6M-335.6K0.1072.56N/AN/A2,01219533,43812,043
2025-11-11$61.88$60.0038.7%10.8%36.4%53.8%39.3%2.6%-4.7%3.7M-97.8M-330.9K0.6765.98N/AN/A36724533,34812,065
2025-11-12$63.38$60.0039.0%11.2%36.5%54.5%39.9%0.7%-5.4%4.0M-114.8M-329.4K0.0965.78N/AN/A1,19410933,47012,208
2025-11-13$61.52$60.0038.9%11.2%37.7%54.2%38.9%-2.0%-6.7%4.0M-95.0M-324.6K1.2975.29N/AN/A2,0132,59833,62012,230
2025-11-14$61.21$61.0037.0%10.6%36.9%49.8%38.3%-1.5%-2.2%3.0M-83.3M-349.2K0.0372.48N/AN/A2,2907334,71514,696
2025-11-17$59.70$61.0036.9%10.6%36.8%49.5%37.6%0.2%1.4%2.4M-61.2M-314.6K0.1371.11N/AN/A7229434,28714,725
2025-11-18$58.89$61.0032.6%9.3%31.5%39.4%41.1%1.8%3.2%1.2M-50.8M-316.0K4.5083.74N/AN/A8223,70234,15914,752
2025-11-19$59.70$61.0034.4%9.9%31.9%43.7%35.8%-0.6%1.9%1.8M-57.4M-324.4K0.7571.96N/AN/A57943534,30217,778
2025-11-20$57.60$61.0032.3%9.3%33.6%38.9%37.6%-1.3%2.2%-1.9M-24.7M-304.1K0.4180.92N/AN/A81433134,41617,789
2025-11-21$58.30$61.0035.4%10.1%33.6%46.0%36.1%-1.7%2.6%-7.4M-34.1M-296.7K4.7677.13N/AN/A1,0214,86334,41817,369
2025-11-24$60.09$61.0039.7%11.4%35.5%56.2%39.1%-1.3%-3.7%887.5K-52.5M-292.8K0.4471.44N/AN/A63227524,8618,698
2025-11-25$60.89$61.0038.3%11.0%35.6%52.9%39.0%0.8%-0.9%973.7K-58.9M-294.2K0.1261.85N/AN/A5406425,0588,848
2025-11-26$62.36$61.0038.5%11.0%36.2%53.3%40.8%-0.9%-4.5%1.4M-68.5M-309.3K0.1570.09N/AN/A75211425,3708,868
2025-11-28$64.40$61.0038.6%11.1%37.6%53.6%39.1%-6.2%-5.1%1.9M-83.7M-314.5K0.2864.13N/AN/A1,48541525,5848,855