CQP Options History — February 2025

In February 2025, CQP traded between $60.61 and $67.69. ATM implied volatility averaged 26.1%, placing in the 21.4% IV rank vs the trailing year. The 30-day expected move averaged 7.6%. IV traded below realized volatility by 13.5% (HV 20d: 39.6%). Max pain ranged from $55.00 to $60.00. Net GEX was positive for 19 of 19 trading days. Term structure was in contango for 5 of 19 days. Put/call ratio averaged 0.57.

Notable Days

2025-02-04: Highest Volume — 443 contracts
2025-02-11: Largest IV spike — 50.4% change
2025-02-11: Highest IV Rank — 29.5%
2025-02-27: Largest Expected Move — 8.4%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$63.33	$60.61	$67.69	$64.63	$67.69
Max Pain	$59.74	$55.00	$60.00	$60.00	$60.00
ATM IV	26.1%	19.2%	30.5%	22.8%	26.4%
Expected Move	7.6%	6.5%	8.4%	6.5%	7.6%
HV 20d	39.6%	35.4%	44.8%	37.3%	36.7%
HV 60d	34.9%	32.8%	36.0%	33.0%	35.4%
IV Rank	21.4%	8.6%	29.5%	15.2%	22.0%
IV Percentile	60.1%	9.1%	82.5%	36.1%	65.5%
Term Structure	-0.9%	-3.4%	2.6%	0.9%	-0.2%
VWIV	25.5%	18.0%	28.7%	23.3%	27.0%
Skew 25d	7.6%	0.9%	48.5%	30.4%	1.9%
Skew 10d	12.8%	-1.3%	68.9%	41.7%	4.3%
Call IV 25d	24.8%	18.6%	28.5%	26.3%	27.3%
Put IV 25d	32.4%	24.9%	75.2%	56.7%	29.1%
Bid-Ask Spread %	80.35	60.25	93.97	84.72	60.48
Gamma HHI	0.32	0.26	0.46	0.46	0.30
Net GEX	207.7K	108.2K	295.2K	264.6K	242.3K
Net DEX	-4.2M	-6.6M	-1.9M	-6.6M	-6.3M
Net VEX	-17.1K	-20.3K	-11.4K	-11.4K	-15.1K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.57	0.01	4.00	0.30	0.19
Total Volume	143.474	10	443	396	69
Total OI	2,845.947	2,696	3,037	2,758	2,781

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
2025-02-03	$64.63	$60.00	22.8%	6.5%	37.3%	15.2%	23.3%	30.4%	0.9%	264.6K	-6.6M	-11.4K	0.30	84.72	305	91	1,455	1,303
2025-02-04	$64.68	$60.00	26.0%	7.5%	37.2%	21.2%	26.1%	48.5%	-1.1%	295.2K	-6.3M	-12.6K	0.11	90.23	399	44	1,484	1,310
2025-02-05	$64.39	$60.00	25.2%	7.2%	37.5%	19.7%	25.2%	1.3%	-0.7%	248.9K	-5.4M	-17.5K	0.16	79.89	244	40	1,504	1,296
2025-02-06	$62.59	$55.00	25.9%	7.0%	39.3%	21.1%	18.0%	2.0%	0.2%	226.9K	-4.5M	-15.6K	0.63	84.82	72	45	1,528	1,316
2025-02-07	$61.59	$60.00	19.2%	7.3%	39.7%	8.6%	24.6%	5.7%	2.6%	223.3K	-3.3M	-16.2K	1.37	81.86	51	70	1,460	1,325
2025-02-10	$64.32	$60.00	20.3%	7.5%	41.4%	10.6%	26.8%	4.3%	-0.4%	216.5K	-4.5M	-17.3K	0.51	79.60	121	62	1,387	1,344
2025-02-11	$61.77	$60.00	30.5%	7.7%	44.8%	29.5%	26.2%	4.0%	-1.2%	154.5K	-2.8M	-18.5K	0.71	82.70	34	24	1,409	1,386
2025-02-12	$60.61	$60.00	27.4%	7.8%	41.6%	23.7%	27.5%	2.7%	-2.1%	108.2K	-1.9M	-19.8K	0.24	78.70	42	10	1,418	1,396
2025-02-13	$62.01	$60.00	25.7%	7.4%	42.2%	20.6%	19.1%	5.2%	0.5%	182.5K	-3.1M	-19.2K	0.01	78.20	142	1	1,504	1,404
2025-02-14	$61.66	$60.00	28.3%	8.1%	41.0%	25.4%	26.9%	2.5%	-2.2%	189.9K	-3.1M	-20.3K	0.63	64.99	41	26	1,627	1,405
2025-02-18	$62.20	$60.00	28.6%	8.2%	41.0%	26.0%	25.1%	0.9%	-3.4%	208.9K	-3.5M	-19.8K	0.95	93.97	43	41	1,650	1,387
2025-02-19	$61.39	$60.00	27.5%	7.9%	41.0%	24.0%	26.5%	1.9%	-2.2%	171.0K	-3.0M	-18.8K	0.25	90.49	8	2	1,646	1,383
2025-02-20	$63.00	$60.00	24.1%	6.9%	40.8%	17.6%	24.0%	5.8%	-2.5%	240.5K	-4.2M	-18.0K	0.04	92.92	70	3	1,646	1,384
2025-02-21	$62.36	$60.00	27.8%	8.0%	40.7%	24.5%	26.0%	4.4%	0.5%	152.4K	-3.6M	-18.1K	0.03	88.24	267	8	1,633	1,385
2025-02-24	$63.97	$60.00	26.4%	7.6%	41.7%	22.0%	27.0%	8.7%	-0.3%	205.4K	-4.1M	-15.9K	0.23	87.93	60	14	1,411	1,285
2025-02-25	$63.69	$60.00	27.4%	7.9%	37.2%	23.8%	28.7%	3.0%	-1.2%	199.3K	-4.0M	-16.7K	0.23	82.33	53	12	1,443	1,292
2025-02-26	$64.76	$60.00	27.0%	7.8%	35.4%	23.1%	27.2%	10.1%	-2.2%	228.3K	-4.6M	-16.1K	4.00	64.40	4	16	1,451	1,286
2025-02-27	$65.90	$60.00	29.3%	8.4%	35.7%	27.2%	28.4%	1.1%	-2.9%	186.7K	-5.0M	-18.6K	0.28	60.25	150	42	1,449	1,300
2025-02-28	$67.69	$60.00	26.4%	7.6%	36.7%	22.0%	27.0%	1.9%	-0.2%	242.3K	-6.3M	-15.1K	0.19	60.48	58	11	1,460	1,321