COPX Options History — January 2026

In January 2026, COPX traded between $72.97 and $93.95. ATM implied volatility averaged 51.5%, placing in the 79.6% IV rank vs the trailing year. The 30-day expected move averaged 14.4%. IV traded above realized volatility by 15.4% (HV 20d: 36.0%). Max pain ranged from $70.00 to $85.00. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 8 of 20 days. Put/call ratio averaged 0.42.

Notable Days

  • 2026-01-29: Highest Volume — 74,170 contracts
  • 2026-01-29: Largest IV spike — 27.3% change
  • 2026-01-27: Highest IV Rank — 100.0%
  • 2026-01-29: Largest Expected Move — 21.8%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$82.30$72.97$93.95$72.97$84.85
Max Pain$77.75$70.00$85.00$70.00$85.00
ATM IV51.5%42.9%76.1%42.9%65.8%
Expected Move14.4%12.3%21.8%12.3%18.9%
HV 20d36.0%27.5%52.9%27.5%52.9%
HV 60d35.6%33.0%40.8%38.0%40.8%
IV Rank79.6%63.5%100.0%63.5%83.0%
IV Percentile96.0%89.3%100.0%89.3%99.6%
Term Structure-1.0%-9.1%2.0%-2.9%-4.7%
VWIV51.4%42.3%79.2%42.3%69.9%
Skew 25d-2.3%-10.1%0.2%-0.2%-8.6%
Skew 10d-1.8%-15.1%11.8%2.2%-15.1%
Call IV 25d52.5%43.1%85.1%43.1%72.5%
Put IV 25d50.2%42.9%75.1%42.9%63.8%
Bid-Ask Spread %44.7935.6683.1783.1735.66
Gamma HHI0.210.080.360.360.08
Net GEX5.5M2.1M8.6M6.6M4.1M
Net DEX-267.0M-552.5M-164.0M-164.0M-343.9M
Net VEX-1.1M-2.9M-552.6K-553.3K-2.9M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.420.081.200.210.39
Total Volume21,912.74,09174,1704,09150,114
Total OI85,963.1556,533178,13656,533178,136

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2026-01-02$72.97$70.0042.9%12.3%27.5%63.5%42.3%-0.2%-2.9%6.6M-164.0M-553.3K0.2183.17N/AN/A3,38970246,24410,289
2026-01-05$76.60$70.0045.3%12.4%31.4%69.0%44.2%-1.0%-1.0%7.7M-216.3M-552.6K0.0940.81N/AN/A10,38195346,64210,620
2026-01-06$78.46$70.0050.2%12.7%31.9%80.5%45.9%-1.3%-0.2%6.9M-234.9M-569.3K0.0843.06N/AN/A36,4992,90546,49710,961
2026-01-07$75.91$75.0046.4%13.1%34.4%71.6%46.3%-2.1%-1.0%7.4M-201.4M-646.5K0.6437.99N/AN/A4,3312,77153,11713,360
2026-01-08$75.63$75.0046.1%13.1%34.3%70.9%45.6%-0.6%0.1%7.4M-191.7M-676.5K0.3138.83N/AN/A5,9481,83354,26015,655
2026-01-09$77.63$75.0046.9%12.9%34.5%72.9%45.5%-1.8%-0.5%8.3M-228.3M-699.2K0.1336.75N/AN/A6,12582155,67616,805
2026-01-12$79.88$75.0055.3%13.1%35.4%92.3%46.6%-2.1%-0.9%8.6M-260.3M-653.4K0.0936.88N/AN/A19,1761,68654,40817,146
2026-01-13$79.91$78.0053.1%13.1%34.2%87.3%46.7%-0.0%-0.4%6.3M-227.3M-663.0K0.4440.26N/AN/A7,2723,21849,77518,102
2026-01-14$82.31$78.0046.3%13.3%35.1%71.5%47.3%-0.5%0.0%6.5M-257.7M-709.6K0.2246.69N/AN/A12,2392,69750,76320,355
2026-01-15$82.22$78.0044.5%12.8%34.9%67.3%46.2%-2.0%0.9%6.5M-261.3M-792.1K0.3145.13N/AN/A7,5802,34354,39522,080
2026-01-16$80.62$78.0045.6%13.1%36.3%69.9%46.4%-0.3%1.3%4.2M-238.8M-832.3K0.5846.44N/AN/A8,3864,83255,35123,666
2026-01-20$82.40$78.0048.9%14.0%36.6%77.5%49.1%-0.7%-1.5%2.6M-198.6M-868.2K0.9044.80N/AN/A5,4384,88745,48018,453
2026-01-21$84.14$80.0048.5%13.9%36.8%76.6%48.7%0.2%-1.5%2.5M-219.2M-956.8K0.9646.05N/AN/A8,0847,80147,72922,177
2026-01-22$82.47$80.0045.6%13.1%37.4%69.8%47.0%-1.0%0.5%2.1M-195.4M-1.1M1.2050.33N/AN/A5,5436,66350,51627,438
2026-01-23$86.00$80.0046.8%13.4%39.2%72.6%50.0%-0.7%2.0%2.2M-236.2M-1.1M0.8043.55N/AN/A8,9217,10153,02933,559
2026-01-26$88.31$80.0056.6%16.2%39.5%95.4%58.0%-5.6%-1.4%2.9M-275.1M-1.2M0.1543.66N/AN/A44,1746,42756,31229,072
2026-01-27$89.85$80.0059.0%16.9%39.0%100.0%61.2%-5.4%0.0%4.8M-346.9M-1.6M0.1943.31N/AN/A38,2767,10079,74032,512
2026-01-28$91.83$85.0059.8%17.1%34.7%100.0%61.3%-2.9%1.0%6.4M-490.9M-2.5M0.1952.07N/AN/A14,6392,829107,68238,478
2026-01-29$93.95$85.0076.1%21.8%34.8%100.0%79.2%-10.1%-9.1%6.2M-552.5M-2.7M0.5140.44N/AN/A49,14125,029111,88240,901
2026-01-30$84.85$85.0065.8%18.9%52.9%83.0%69.9%-8.6%-4.7%4.1M-343.9M-2.9M0.3935.66N/AN/A36,05014,064125,57552,561