CQP Options History — February 2023

In February 2023, CQP traded between $48.52 and $55.11. ATM implied volatility averaged 36.0%, placing in the 32.0% IV rank vs the trailing year. The 30-day expected move averaged 9.7%. IV traded above realized volatility by 3.6% (HV 20d: 32.4%). Max pain ranged from $50.00 to $55.00. Net GEX was positive for 17 of 19 trading days. Term structure was in contango for 6 of 19 days. Put/call ratio averaged 0.62.

Notable Days

2023-02-23: Highest Volume — 451 contracts
2023-02-15: Largest IV spike — 59.6% change
2023-02-28: Highest IV Rank — 51.9%
2023-02-28: Largest Expected Move — 13.5%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$51.82	$48.52	$55.11	$55.11	$49.13
Max Pain	$53.68	$50.00	$55.00	$55.00	$50.00
ATM IV	36.0%	25.5%	47.3%	25.5%	47.3%
Expected Move	9.7%	6.1%	13.5%	7.3%	13.5%
HV 20d	32.4%	24.0%	44.6%	24.0%	44.3%
HV 60d	33.6%	31.5%	35.9%	32.7%	35.9%
IV Rank	32.0%	13.4%	51.9%	13.4%	51.9%
IV Percentile	36.5%	2.4%	82.1%	3.6%	82.1%
Term Structure	-3.8%	-18.7%	11.4%	11.3%	-10.3%
VWIV	35.4%	24.5%	52.3%	27.2%	45.6%
Skew 25d	5.0%	-13.4%	20.2%	0.4%	-13.4%
Skew 10d	12.6%	-5.9%	30.0%	25.2%	10.6%
Call IV 25d	33.4%	24.7%	44.8%	30.5%	44.8%
Put IV 25d	38.5%	26.0%	52.5%	30.9%	31.4%
Bid-Ask Spread %	106.09	98.18	117.47	102.26	116.76
Gamma HHI	0.20	0.13	0.29	0.20	0.15
Net GEX	59.8K	-22.9K	116.7K	101.4K	30.8K
Net DEX	386.5K	-842.2K	2.1M	-842.2K	970.8K
Net VEX	-14.4K	-16.5K	-10.4K	-16.5K	-14.4K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.62	0.00	3.64	0.15	0.17
Total Volume	125.105	16	451	30	55
Total OI	2,908.632	2,664	3,173	2,664	3,173

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
2023-02-01	$55.11	$55.00	25.5%	7.3%	24.0%	13.4%	27.2%	0.4%	11.3%	101.4K	-842.2K	-16.5K	0.15	102.26	26	4	1,766	898
2023-02-02	$54.81	$55.00	29.6%	6.1%	24.1%	20.6%	26.4%	6.5%	11.4%	116.7K	-498.8K	-14.2K	0.95	105.93	59	56	1,785	902
2023-02-03	$52.55	$55.00	44.4%	7.8%	28.3%	46.8%	35.0%	-3.0%	7.1%	83.6K	-75.6K	-16.5K	2.69	106.35	13	35	1,801	930
2023-02-06	$52.17	$55.00	45.5%	9.6%	27.6%	48.7%	37.9%	-0.9%	0.8%	60.0K	359.0K	-14.4K	0.45	107.50	11	5	1,805	947
2023-02-07	$52.69	$55.00	32.7%	7.8%	27.8%	26.1%	29.7%	19.5%	-2.0%	68.6K	215.9K	-14.1K	0.06	103.44	82	5	1,811	950
2023-02-08	$52.86	$55.00	26.8%	7.7%	27.8%	15.8%	31.7%	10.4%	-0.3%	68.1K	150.3K	-15.1K	0.06	102.84	51	3	1,829	952
2023-02-09	$52.34	$55.00	33.8%	9.7%	27.6%	28.1%	32.8%	6.6%	10.2%	69.7K	205.6K	-14.6K	0.73	100.88	67	49	1,835	950
2023-02-10	$54.17	$55.00	26.7%	7.6%	29.4%	15.4%	32.1%	3.4%	4.6%	104.5K	-355.4K	-15.6K	0.10	110.31	110	11	1,862	999
2023-02-13	$52.89	$55.00	31.4%	9.0%	30.4%	23.8%	33.2%	11.5%	-9.1%	81.5K	49.4K	-15.0K	0.54	100.42	48	26	1,941	1,010
2023-02-14	$53.47	$55.00	27.9%	8.0%	30.5%	17.6%	24.5%	20.2%	-2.6%	108.5K	-379.7K	-15.7K	0.00	105.64	35	0	1,938	1,030
2023-02-15	$51.08	$55.00	44.5%	12.8%	32.7%	47.0%	52.3%	-0.4%	-13.6%	44.9K	391.0K	-14.9K	0.08	109.71	106	9	1,963	1,031
2023-02-16	$50.53	$55.00	45.0%	12.9%	32.2%	47.8%	39.5%	20.0%	-18.7%	28.4K	774.8K	-15.1K	3.64	117.47	14	51	2,023	1,028
2023-02-17	$49.25	$55.00	36.2%	10.4%	33.0%	32.3%	36.0%	-0.7%	-15.3%	-17.8K	2.0M	-12.1K	0.32	106.64	146	46	2,015	1,068
2023-02-21	$48.52	$55.00	43.5%	12.5%	32.0%	45.2%	42.2%	1.1%	-12.8%	-22.9K	2.1M	-10.4K	0.02	98.18	325	5	1,754	1,037
2023-02-22	$49.36	$50.00	40.1%	11.5%	32.7%	39.2%	37.5%	-0.1%	-12.0%	26.2K	1.2M	-12.6K	0.40	106.82	129	52	1,971	1,041
2023-02-23	$53.06	$50.00	26.4%	7.6%	42.2%	14.9%	30.5%	5.0%	-3.2%	111.7K	-780.0K	-15.0K	0.21	98.83	372	79	2,044	1,039
2023-02-24	$50.95	$50.00	31.9%	9.2%	44.1%	24.8%	33.8%	7.3%	-1.2%	38.8K	790.7K	-13.7K	0.61	105.11	38	23	1,983	1,072
2023-02-27	$49.64	$50.00	44.9%	12.9%	44.6%	47.7%	44.0%	1.9%	-16.4%	32.9K	1.0M	-13.5K	0.62	110.64	143	88	1,996	1,085
2023-02-28	$49.13	$50.00	47.3%	13.5%	44.3%	51.9%	45.6%	-13.4%	-10.3%	30.8K	970.8K	-14.4K	0.17	116.76	47	8	2,111	1,062