CQP Options History — January 2023

In January 2023, CQP traded between $53.87 and $57.05. ATM implied volatility averaged 33.6%, placing in the 25.1% IV rank vs the trailing year. The 30-day expected move averaged 9.7%. IV traded above realized volatility by 0.9% (HV 20d: 32.7%). Max pain ranged from $55.00 to $60.00. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 11 of 20 days. Put/call ratio averaged 0.77.

Notable Days

2023-01-23: Highest Volume — 178 contracts
2023-01-20: Largest IV drop — 55.2% change
2023-01-18: Highest IV Rank — 39.3%
2023-01-18: Largest Expected Move — 12.1%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$55.17	$53.87	$57.05	$54.46	$54.35
Max Pain	$58.75	$55.00	$60.00	$55.00	$55.00
ATM IV	33.6%	17.9%	42.3%	39.0%	29.8%
Expected Move	9.7%	5.1%	12.1%	11.2%	8.5%
HV 20d	32.7%	28.8%	37.0%	37.0%	29.2%
HV 60d	33.8%	33.2%	34.3%	34.3%	33.2%
IV Rank	25.1%	0.0%	39.3%	33.4%	21.0%
IV Percentile	25.8%	0.0%	64.3%	49.6%	7.5%
Term Structure	-0.2%	-19.9%	13.5%	3.4%	8.5%
VWIV	33.2%	20.8%	42.0%	41.7%	25.9%
Skew 25d	12.4%	-18.8%	26.9%	3.0%	16.2%
Skew 10d	25.7%	-2.9%	60.6%	-2.9%	11.6%
Call IV 25d	31.7%	21.1%	47.1%	40.4%	25.9%
Put IV 25d	44.1%	28.3%	59.5%	43.4%	42.1%
Bid-Ask Spread %	113.07	78.91	122.32	78.91	109.87
Gamma HHI	0.24	0.19	0.41	0.20	0.21
Net GEX	108.6K	68.4K	201.6K	101.7K	81.7K
Net DEX	-1.0M	-2.4M	-107.6K	-432.7K	-341.1K
Net VEX	-17.1K	-20.9K	-13.3K	-20.1K	-13.3K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.77	0.02	6.60	1.00	0.96
Total Volume	79.7	17	178	112	106
Total OI	3,423.15	2,370	3,986	3,847	2,581

Daily Data (20 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
2023-01-03	$54.46	$55.00	39.0%	11.2%	37.0%	33.4%	41.7%	3.0%	3.4%	101.7K	-432.7K	-20.1K	1.00	78.91	56	56	2,475	1,372
2023-01-04	$54.30	$55.00	31.3%	9.0%	36.9%	19.0%	33.0%	11.8%	11.2%	91.1K	-441.2K	-20.9K	0.70	102.10	10	7	2,461	1,399
2023-01-05	$54.59	$60.00	36.4%	11.0%	34.9%	28.6%	42.0%	-18.8%	-12.5%	101.8K	-433.6K	-19.8K	6.60	113.58	5	33	2,469	1,406
2023-01-06	$55.44	$60.00	35.1%	11.3%	35.5%	25.7%	40.9%	8.8%	-11.3%	116.9K	-850.2K	-18.4K	2.26	112.78	42	95	2,474	1,434
2023-01-09	$55.73	$60.00	37.8%	9.9%	35.2%	30.8%	29.5%	25.7%	13.5%	123.8K	-1.4M	-20.3K	0.02	121.19	49	1	2,499	1,386
2023-01-10	$55.23	$60.00	35.9%	10.0%	35.3%	27.2%	34.2%	25.2%	11.1%	93.8K	-1.0M	-19.2K	0.27	122.32	97	26	2,502	1,385
2023-01-11	$55.76	$60.00	34.8%	10.0%	35.1%	25.2%	34.6%	21.6%	-7.5%	143.1K	-1.4M	-17.0K	0.09	118.92	54	5	2,571	1,369
2023-01-12	$56.96	$60.00	38.0%	10.9%	33.4%	31.1%	32.0%	23.0%	-3.6%	191.6K	-2.3M	-18.7K	0.05	114.53	40	2	2,589	1,368
2023-01-13	$57.05	$60.00	32.1%	9.2%	32.2%	19.9%	32.6%	9.5%	6.1%	201.6K	-2.4M	-18.8K	0.92	116.05	13	12	2,621	1,365
2023-01-17	$56.21	$60.00	31.7%	9.1%	32.5%	19.1%	27.4%	9.5%	0.2%	105.5K	-1.5M	-15.3K	0.14	120.77	103	14	2,618	1,365
2023-01-18	$54.48	$60.00	42.3%	12.1%	34.1%	39.3%	34.2%	2.2%	2.4%	68.4K	-107.6K	-16.4K	0.13	113.31	60	8	2,624	1,362
2023-01-19	$55.18	$60.00	40.0%	11.5%	32.4%	34.9%	37.8%	14.6%	-17.0%	86.9K	-1.2M	-15.9K	0.45	120.59	55	25	2,640	1,317
2023-01-20	$55.23	$60.00	17.9%	5.1%	32.3%	0.0%	20.8%	10.7%	12.5%	78.3K	-1.3M	-14.6K	0.26	115.59	72	19	2,647	1,313
2023-01-23	$56.16	$60.00	22.3%	6.4%	30.6%	7.6%	27.1%	26.9%	12.8%	88.1K	-1.2M	-16.4K	0.07	114.88	167	11	1,576	794
2023-01-24	$54.97	$60.00	32.4%	9.3%	30.6%	25.6%	28.7%	2.8%	-1.8%	85.2K	-851.1K	-16.3K	0.26	112.99	82	21	1,647	790
2023-01-25	$53.87	$60.00	38.8%	11.1%	29.7%	37.0%	41.6%	4.8%	-19.9%	135.7K	-1.8M	-14.6K	0.22	116.77	55	12	1,703	804
2023-01-26	$54.59	$60.00	29.3%	8.4%	29.9%	20.2%	33.9%	21.8%	-8.1%	90.1K	-669.7K	-15.4K	0.20	116.65	54	11	1,683	809
2023-01-27	$55.01	$55.00	35.2%	10.1%	28.8%	30.5%	34.0%	23.0%	-6.7%	100.3K	-741.9K	-15.1K	0.28	112.16	43	12	1,697	806
2023-01-30	$53.90	$55.00	32.6%	9.3%	29.0%	25.9%	31.4%	6.4%	1.7%	87.0K	-421.2K	-15.3K	0.53	107.52	40	21	1,736	806
2023-01-31	$54.35	$55.00	29.8%	8.5%	29.2%	21.0%	25.9%	16.2%	8.5%	81.7K	-341.1K	-13.3K	0.96	109.87	54	52	1,761	820