CQP Options History — September 2025

In September 2025, CQP traded between $51.93 and $54.53. ATM implied volatility averaged 23.8%, placing in the 18.8% IV rank vs the trailing year. The 30-day expected move averaged 6.7%. IV traded above realized volatility by 5.7% (HV 20d: 18.1%). Max pain ranged from $50.00 to $55.00. Net GEX was positive for 15 of 21 trading days. Term structure was in contango for 15 of 21 days. Put/call ratio averaged 1.40.

Notable Days

  • 2025-09-18: Highest Volume — 228 contracts
  • 2025-09-17: Largest IV spike — 67.8% change
  • 2025-09-04: Highest IV Rank — 29.2%
  • 2025-09-19: Largest Expected Move — 8.2%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$53.27$51.93$54.53$54.53$53.49
Max Pain$53.81$50.00$55.00$55.00$55.00
ATM IV23.8%14.2%29.2%24.8%25.2%
Expected Move6.7%4.1%8.2%7.1%7.2%
HV 20d18.1%14.8%20.2%20.1%20.1%
HV 60d22.4%21.3%23.3%23.2%22.2%
IV Rank18.8%0.0%29.2%20.4%21.8%
IV Percentile36.4%0.0%69.0%38.9%42.1%
Term Structure4.6%-2.7%15.8%0.2%1.7%
VWIV23.8%13.9%28.4%27.0%25.5%
Skew 25d5.3%-7.6%16.9%2.8%-4.3%
Skew 10d9.5%-4.6%40.6%3.8%-2.0%
Call IV 25d21.1%13.1%28.0%26.0%23.5%
Put IV 25d26.5%16.7%31.3%28.8%19.2%
Bid-Ask Spread %86.8760.11110.5392.8089.49
Gamma HHI0.290.240.340.290.26
Net GEX15.5K-15.0K60.4K5.0K59.9K
Net DEX657.4K-443.8K1.7M58.4K-140.6K
Net VEX-12.9K-15.2K-10.2K-13.9K-13.9K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.400.007.750.911.67
Total Volume77.6675228448
Total OI2,476.4291,9042,8342,5872,253

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2025-09-02$54.53$55.0024.8%7.1%20.1%20.4%27.0%2.8%0.2%5.0K58.4K-13.9K0.9192.8023211,5161,071
2025-09-03$53.62$55.0025.8%7.4%20.0%22.5%26.4%0.4%-0.2%2.0K584.1K-15.2K0.0088.540171,5151,086
2025-09-04$54.22$50.0029.2%7.2%20.1%29.2%24.8%2.7%-2.1%2.7K407.1K-12.9K0.0184.6610011,5151,097
2025-09-05$53.95$50.0024.5%7.7%20.1%19.8%27.1%4.2%-1.2%-14.9K648.7K-13.6K1.0590.4222231,5351,097
2025-09-08$53.70$50.0024.9%7.3%19.2%20.7%24.5%3.5%1.9%-6.6K782.8K-13.2K0.2286.23921,5271,090
2025-09-09$53.72$50.0025.4%5.7%16.1%21.7%25.8%10.6%13.0%-817709.3K-13.2K0.0888.008671,5291,092
2025-09-10$53.19$50.0016.8%4.8%16.3%4.4%21.4%9.8%14.7%8.2K970.9K-13.8K4.0097.0815601,5511,099
2025-09-11$53.18$55.0021.8%6.3%14.8%14.5%28.4%13.5%14.8%2.4K1.2M-13.1K0.00110.53051,5541,107
2025-09-12$52.33$55.0027.3%7.8%15.7%25.4%24.4%2.3%0.2%-7.8K1.5M-12.6K1.8394.3535641,5541,108
2025-09-15$51.95$55.0028.5%8.2%15.7%27.9%26.5%4.6%1.2%-15.0K1.7M-12.3K2.2586.9136811,5621,129
2025-09-16$53.13$55.0014.2%4.1%17.8%0.0%14.4%12.3%14.0%6.7K1.3M-11.9K0.4996.4876371,5591,119
2025-09-17$53.16$55.0023.9%6.8%17.4%19.1%26.5%7.4%-2.7%34.6K942.6K-13.5K0.6474.0428181,5961,112
2025-09-18$53.55$55.0025.4%7.3%16.5%22.1%25.4%7.0%-0.9%39.5K1.0M-12.7K2.6279.45631651,6221,123
2025-09-19$52.48$55.0028.6%8.2%17.4%28.6%25.1%2.7%5.0%30.2K1.6M-12.6K0.8677.7558501,6771,157
2025-09-22$51.93$55.0020.5%5.9%17.7%12.5%15.1%3.3%3.0%-9.3K678.2K-10.7K1.09102.3968741,150754
2025-09-23$52.52$55.0020.6%5.9%18.1%12.7%23.0%-7.6%-0.2%4.6K401.5K-12.2K1.0270.7156571,182828
2025-09-24$53.44$55.0020.3%5.8%18.8%12.2%21.3%6.4%15.8%30.9K-26.9K-10.2K0.0887.244941,221858
2025-09-25$53.28$55.0022.8%6.5%18.8%17.0%13.9%16.9%13.6%43.9K-27.7K-13.7K0.0092.691301,257856
2025-09-26$54.16$55.0024.5%7.0%19.1%20.4%26.6%8.1%2.6%60.4K-443.8K-12.7K0.0260.1116141,264856
2025-09-29$53.13$55.0025.5%7.3%20.2%22.3%26.8%5.3%2.5%49.8K-38.7K-13.8K7.7574.334311,370857
2025-09-30$53.49$55.0025.2%7.2%20.1%21.8%25.5%-4.3%1.7%59.9K-140.6K-13.9K1.6789.49351,367886