CQP Options History — January 2025

In January 2025, CQP traded between $55.38 and $62.69. ATM implied volatility averaged 21.5%, placing in the 12.8% IV rank vs the trailing year. The 30-day expected move averaged 6.4%. IV traded below realized volatility by 10.2% (HV 20d: 31.7%). Max pain ranged from $50.00 to $60.00. Net GEX was positive for 18 of 20 trading days. Term structure was in contango for 7 of 20 days. Put/call ratio averaged 2.52.

Notable Days

2025-01-03: Highest Volume — 506 contracts
2025-01-22: Largest IV spike — 27.1% change
2025-01-31: Highest IV Rank — 20.1%
2025-01-31: Largest Expected Move — 7.3%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$59.31	$55.38	$62.69	$55.39	$61.77
Max Pain	$56.25	$50.00	$60.00	$55.00	$60.00
ATM IV	21.5%	17.3%	25.4%	18.8%	25.4%
Expected Move	6.4%	5.2%	7.3%	5.4%	7.3%
HV 20d	31.7%	24.2%	35.7%	34.2%	35.7%
HV 60d	30.2%	28.1%	33.1%	28.5%	33.0%
IV Rank	12.8%	5.0%	20.1%	7.8%	20.1%
IV Percentile	25.3%	3.6%	55.2%	6.3%	55.2%
Term Structure	-0.1%	-4.4%	5.4%	5.3%	-2.1%
VWIV	22.1%	18.9%	24.4%	18.9%	24.3%
Skew 25d	10.8%	-4.2%	25.9%	-4.2%	22.0%
Skew 10d	25.1%	-6.1%	61.0%	-6.1%	61.0%
Call IV 25d	21.7%	15.3%	26.2%	23.3%	23.3%
Put IV 25d	32.6%	19.1%	46.9%	19.1%	45.3%
Bid-Ask Spread %	89.25	72.65	100.55	94.19	72.65
Gamma HHI	0.48	0.31	0.80	0.31	0.44
Net GEX	153.1K	-22.2K	261.9K	-16.6K	206.1K
Net DEX	-4.5M	-6.9M	-918.6K	-918.6K	-4.9M
Net VEX	-14.0K	-23.1K	-9.1K	-23.1K	-13.4K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	2.52	0.00	22.50	0.81	0.17
Total Volume	152.15	29	506	145	76
Total OI	2,846.2	2,490	3,034	2,917	2,752

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
2025-01-02	$55.39	$55.00	18.8%	5.4%	34.2%	7.8%	18.9%	-4.2%	5.3%	-16.6K	-918.6K	-23.1K	0.81	94.19	80	65	1,148	1,769
2025-01-03	$55.38	$55.00	21.8%	6.2%	32.0%	13.4%	22.7%	-3.2%	3.8%	-22.2K	-1.5M	-20.0K	12.68	100.55	37	469	1,220	1,814
2025-01-06	$55.84	$50.00	20.1%	6.1%	29.6%	10.3%	0.0%	25.9%	1.8%	60.8K	-2.2M	-16.7K	8.40	100.41	35	294	1,233	1,663
2025-01-07	$55.44	$50.00	17.3%	6.5%	29.5%	5.0%	23.0%	5.2%	0.6%	70.6K	-2.1M	-15.5K	0.06	96.89	32	2	1,251	1,485
2025-01-08	$56.53	$50.00	19.0%	6.7%	30.4%	8.2%	19.7%	5.0%	-4.4%	105.5K	-3.0M	-14.2K	0.03	80.82	38	1	1,268	1,486
2025-01-10	$55.81	$50.00	18.7%	6.5%	30.1%	7.7%	22.8%	9.3%	1.4%	88.4K	-2.3M	-16.1K	0.50	97.73	72	36	1,288	1,487
2025-01-13	$56.14	$55.00	22.2%	7.0%	30.2%	14.1%	24.4%	3.5%	-0.1%	87.3K	-2.7M	-15.8K	22.50	88.33	2	45	1,340	1,507
2025-01-14	$59.23	$55.00	20.2%	6.4%	35.1%	10.4%	20.5%	2.4%	-0.2%	153.5K	-4.8M	-13.1K	0.31	92.47	145	45	1,344	1,507
2025-01-15	$59.64	$55.00	23.6%	6.8%	35.1%	16.7%	23.2%	23.2%	-3.3%	251.3K	-5.2M	-12.2K	0.16	90.00	174	27	1,399	1,529
2025-01-16	$61.42	$55.00	23.0%	6.6%	32.5%	15.7%	22.4%	17.5%	-1.4%	168.2K	-6.4M	-9.1K	0.15	95.67	188	29	1,425	1,523
2025-01-17	$62.01	$60.00	22.7%	6.5%	31.0%	15.0%	20.2%	16.4%	-0.6%	167.7K	-6.9M	-9.5K	0.50	91.62	105	53	1,471	1,545
2025-01-21	$62.69	$55.00	18.0%	5.2%	24.2%	6.4%	20.4%	1.1%	-0.1%	196.6K	-6.4M	-9.3K	0.18	80.40	306	54	1,351	1,139
2025-01-22	$60.95	$60.00	22.9%	6.6%	27.6%	15.5%	21.8%	1.9%	-3.2%	183.0K	-5.4M	-12.8K	0.48	77.74	120	58	1,503	1,171
2025-01-23	$61.80	$60.00	22.0%	6.3%	27.6%	13.7%	21.4%	11.7%	-3.0%	229.8K	-6.1M	-11.1K	0.49	86.59	83	41	1,562	1,206
2025-01-24	$62.11	$60.00	22.3%	6.4%	27.6%	14.3%	22.3%	11.6%	-0.6%	242.9K	-6.4M	-12.6K	0.55	97.22	69	38	1,593	1,242
2025-01-27	$59.11	$60.00	22.6%	6.5%	34.2%	14.8%	23.4%	20.7%	-0.6%	138.4K	-4.1M	-16.4K	0.14	81.27	90	13	1,598	1,276
2025-01-28	$61.36	$60.00	23.7%	6.8%	35.7%	16.9%	23.5%	21.6%	0.4%	235.1K	-5.9M	-13.4K	0.00	90.49	29	0	1,648	1,278
2025-01-29	$61.83	$60.00	20.5%	5.9%	35.4%	11.0%	23.9%	7.8%	5.4%	261.9K	-6.3M	-13.1K	1.00	86.40	19	19	1,663	1,278
2025-01-30	$61.85	$60.00	24.6%	7.0%	35.5%	18.5%	21.3%	17.4%	-1.2%	254.4K	-6.4M	-12.7K	1.35	83.52	23	31	1,675	1,287
2025-01-31	$61.77	$60.00	25.4%	7.3%	35.7%	20.1%	24.3%	22.0%	-2.1%	206.1K	-4.9M	-13.4K	0.17	72.65	65	11	1,450	1,302