CQP Options History — February 2022

In February 2022, CQP traded between $47.25 and $53.34. ATM implied volatility averaged 32.8%, placing in the 29.9% IV rank vs the trailing year. The 30-day expected move averaged 9.4%. IV traded below realized volatility by 2.4% (HV 20d: 35.1%). Max pain ranged from $43.00 to $46.00. Net GEX was positive for 19 of 19 trading days. Term structure was in contango for 6 of 19 days. Put/call ratio averaged 0.41.

Notable Days

2022-02-07: Highest Volume — 2,405 contracts
2022-02-10: Largest IV spike — 31.1% change
2022-02-24: Highest IV Rank — 50.1%
2022-02-24: Largest Expected Move — 12.2%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$49.33	$47.25	$53.34	$49.82	$53.34
Max Pain	$45.42	$43.00	$46.00	$45.00	$46.00
ATM IV	32.8%	23.0%	42.4%	23.0%	33.9%
Expected Move	9.4%	6.6%	12.2%	6.6%	9.7%
HV 20d	35.1%	31.9%	41.2%	31.9%	41.2%
HV 60d	30.7%	28.4%	33.2%	28.4%	33.0%
IV Rank	29.9%	9.4%	50.1%	9.4%	32.2%
IV Percentile	79.1%	9.1%	99.6%	9.1%	89.3%
Term Structure	-2.6%	-15.3%	11.9%	2.3%	1.2%
VWIV	34.7%	21.8%	43.7%	29.2%	38.3%
Skew 25d	3.3%	-15.5%	10.7%	-15.5%	1.8%
Skew 10d	4.3%	-23.5%	21.5%	-19.8%	6.3%
Call IV 25d	33.5%	27.0%	46.0%	46.0%	38.6%
Put IV 25d	36.8%	30.5%	47.0%	30.5%	40.4%
Bid-Ask Spread %	83.11	69.60	106.20	103.09	83.30
Gamma HHI	0.33	0.19	0.50	0.37	0.23
Net GEX	215.3K	121.5K	357.7K	348.7K	266.8K
Net DEX	-4.6M	-10.1M	-2.1M	-8.8M	-7.3M
Net VEX	-25.0K	-33.0K	-18.8K	-25.9K	-29.7K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.41	0.15	0.70	0.50	0.51
Total Volume	1,278.789	801	2,405	1,008	1,013
Total OI	4,210.947	3,063	4,586	4,197	4,586

Daily Data (19 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 Vol	Put Vol	Call OI	Put OI
2022-02-01	$49.82	$45.00	23.0%	6.6%	31.9%	9.4%	29.2%	-15.5%	2.3%	348.7K	-8.8M	-25.9K	0.50	103.09	674	334	3,057	1,140
2022-02-02	$51.48	$46.00	24.2%	6.9%	32.1%	12.0%	21.8%	5.6%	9.0%	357.7K	-10.1M	-19.2K	0.70	106.20	470	331	2,785	1,221
2022-02-03	$51.02	$43.00	30.7%	8.7%	32.5%	25.5%	30.1%	2.3%	-1.4%	263.1K	-9.1M	-18.8K	0.42	81.96	826	343	2,655	1,222
2022-02-04	$51.21	$46.00	33.0%	9.4%	32.5%	30.4%	31.7%	3.3%	-3.1%	196.3K	-5.1M	-20.5K	0.34	73.86	916	315	1,831	1,232
2022-02-07	$49.28	$46.00	30.9%	8.9%	36.3%	25.9%	25.5%	4.9%	-13.9%	218.5K	-4.2M	-18.8K	0.15	95.71	2,087	318	1,875	1,246
2022-02-08	$47.41	$45.00	34.8%	9.8%	39.4%	34.1%	43.7%	7.3%	-10.1%	181.5K	-2.9M	-28.0K	0.29	69.60	1,327	379	3,001	1,262
2022-02-09	$47.72	$45.00	25.4%	7.3%	34.2%	14.3%	33.0%	5.3%	3.2%	234.9K	-3.1M	-26.7K	0.20	73.95	1,350	273	3,118	1,202
2022-02-10	$47.59	$45.00	33.2%	9.5%	34.2%	30.8%	35.9%	4.0%	-2.7%	218.9K	-3.0M	-24.6K	0.28	78.56	968	267	3,202	1,218
2022-02-11	$48.75	$45.00	39.3%	11.3%	34.2%	43.5%	39.9%	0.6%	-9.8%	264.1K	-4.2M	-29.0K	0.33	91.92	971	316	3,174	1,224
2022-02-14	$48.31	$45.00	29.6%	8.5%	34.4%	23.2%	38.8%	2.4%	-2.4%	242.4K	-4.3M	-33.0K	0.28	86.15	921	259	3,190	1,274
2022-02-15	$47.25	$45.00	28.9%	8.3%	35.0%	21.9%	41.1%	10.7%	-1.8%	191.6K	-2.4M	-24.3K	0.25	81.62	1,116	284	3,175	1,339
2022-02-16	$47.60	$45.00	34.8%	10.0%	34.8%	34.2%	31.0%	3.2%	-10.7%	204.8K	-2.4M	-25.9K	0.42	78.77	896	374	3,065	1,362
2022-02-17	$47.49	$46.00	35.9%	10.3%	33.6%	36.4%	32.4%	4.9%	0.8%	128.1K	-2.1M	-24.5K	0.47	78.04	778	365	3,065	1,451
2022-02-18	$47.93	$46.00	34.6%	9.9%	33.5%	33.6%	37.9%	2.2%	-2.2%	128.0K	-2.2M	-24.0K	0.65	71.61	740	480	3,069	1,456
2022-02-22	$48.93	$46.00	34.4%	9.9%	33.9%	33.3%	31.3%	2.8%	11.9%	125.9K	-2.8M	-24.1K	0.51	83.82	622	316	2,724	1,435
2022-02-23	$48.00	$46.00	36.2%	10.4%	32.0%	37.0%	34.2%	0.8%	-2.9%	121.5K	-2.4M	-25.6K	0.61	75.34	621	379	2,831	1,505
2022-02-24	$51.62	$46.00	42.4%	12.2%	40.8%	50.1%	43.7%	10.7%	-2.3%	171.2K	-5.0M	-26.5K	0.31	85.48	1,134	347	2,876	1,512
2022-02-25	$52.43	$46.00	37.4%	10.7%	41.0%	39.5%	40.7%	4.7%	-15.3%	226.9K	-5.9M	-25.3K	0.49	80.18	798	389	2,911	1,517
2022-02-28	$53.34	$46.00	33.9%	9.7%	41.2%	32.2%	38.3%	1.8%	1.2%	266.8K	-7.3M	-29.7K	0.51	83.30	669	344	3,055	1,531