CSV Options History — January 2025

In January 2025, CSV traded between $38.69 and $41.56. ATM implied volatility averaged 39.8%, placing in the 25.5% IV rank vs the trailing year. The 30-day expected move averaged 11.5%. IV traded above realized volatility by 20.8% (HV 20d: 19.0%). Max pain ranged from $25.00 to $25.00. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 11 of 20 days. Put/call ratio averaged 0.34.

Notable Days

2025-01-02: Highest Volume — 300 contracts
2025-01-10: Largest IV spike — 56.2% change
2025-01-31: Highest IV Rank — 45.1%
2025-01-31: Largest Expected Move — 16.3%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$39.84	$38.69	$41.56	$38.91	$40.83
Max Pain	$25.00	$25.00	$25.00	$25.00	$25.00
ATM IV	39.8%	24.1%	56.7%	30.6%	56.7%
Expected Move	11.5%	6.9%	16.3%	8.8%	16.3%
HV 20d	19.0%	17.3%	21.1%	18.7%	21.1%
HV 60d	35.5%	23.1%	37.1%	36.9%	23.1%
IV Rank	25.5%	7.2%	45.1%	14.8%	45.1%
IV Percentile	36.2%	2.8%	83.3%	9.1%	83.3%
Term Structure	1.1%	-9.8%	25.9%	2.7%	-7.6%
VWIV	38.6%	20.5%	66.4%	39.4%	55.0%
Skew 25d	3.5%	-17.1%	17.5%	-2.3%	3.1%
Skew 10d	6.7%	-3.7%	31.2%	-1.5%	3.5%
Call IV 25d	35.7%	24.7%	63.3%	37.1%	57.1%
Put IV 25d	39.2%	29.1%	60.1%	34.9%	60.1%
Bid-Ask Spread %	105.72	95.96	114.17	100.32	95.96
Gamma HHI	0.35	0.22	0.69	0.28	0.30
Net GEX	15.3K	8.1K	36.8K	15.2K	18.6K
Net DEX	-2.8M	-3.6M	-1.9M	-2.9M	-2.7M
Net VEX	-1.6K	-2.1K	-1.3K	-1.6K	-2.1K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.34	0.00	3.50	0.03	0.00
Total Volume	38.3	0	300	300	5
Total OI	842.15	569	1,060	916	798

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	$38.91	$25.00	30.6%	8.8%	18.7%	14.8%	39.4%	-2.3%	2.7%	15.2K	-2.9M	-1.6K	0.03	100.32	292	8	841	75
2025-01-03	$39.06	$25.00	24.1%	6.9%	18.7%	7.2%	26.7%	17.5%	25.9%	14.4K	-3.2M	-1.9K	0.25	104.23	4	1	922	73
2025-01-06	$39.22	$25.00	37.5%	9.8%	18.6%	22.9%	0.0%	8.5%	3.6%	15.3K	-3.2M	-2.1K	0.18	109.78	11	2	923	74
2025-01-07	$38.99	$25.00	37.0%	10.7%	18.5%	22.2%	35.3%	15.6%	4.9%	16.5K	-3.2M	-1.9K	0.08	102.85	12	1	934	76
2025-01-08	$39.28	$25.00	26.9%	10.9%	18.0%	10.5%	38.0%	-0.2%	1.4%	15.4K	-3.3M	-1.6K	1.33	102.94	3	4	935	77
2025-01-10	$38.69	$25.00	42.0%	10.3%	18.7%	28.1%	0.0%	4.8%	6.5%	16.2K	-3.2M	-1.6K	0.00	100.14	3	0	937	78
2025-01-13	$39.03	$25.00	35.5%	11.5%	18.8%	20.6%	36.9%	-0.3%	2.1%	16.8K	-3.3M	-1.6K	0.00	102.85	4	0	938	78
2025-01-14	$39.48	$25.00	39.3%	10.2%	19.1%	24.9%	66.4%	1.6%	2.5%	17.0K	-3.4M	-1.5K	0.07	106.03	40	3	939	78
2025-01-15	$40.02	$25.00	33.1%	9.5%	19.0%	17.6%	33.0%	1.9%	1.1%	22.6K	-3.6M	-1.5K	0.00	104.29	35	0	979	81
2025-01-16	$39.92	$25.00	35.9%	10.3%	18.1%	21.0%	35.9%	-0.3%	-3.0%	17.5K	-3.4M	-1.6K	0.00	104.65	4	0	950	81
2025-01-17	$40.01	$25.00	39.4%	11.3%	18.1%	25.1%	0.0%	5.8%	-0.9%	36.8K	-3.4M	-1.7K	0.00	110.06	1	0	950	81
2025-01-21	$40.57	$25.00	45.5%	13.0%	17.3%	32.1%	20.5%	7.0%	-2.1%	8.9K	-2.0M	-1.5K	0.08	104.17	12	1	552	17
2025-01-22	$39.73	$25.00	37.4%	10.7%	18.9%	22.7%	23.8%	6.5%	3.5%	10.3K	-1.9M	-1.6K	0.50	104.08	2	1	564	17
2025-01-23	$39.30	$25.00	41.3%	11.8%	18.9%	27.2%	0.0%	12.6%	-0.1%	9.1K	-1.9M	-1.4K	3.50	106.89	2	7	566	18
2025-01-24	$39.66	$25.00	48.9%	14.0%	18.9%	36.0%	0.0%	3.4%	-6.5%	8.4K	-1.9M	-1.3K	0.00	111.72	0	0	568	25
2025-01-27	$40.48	$25.00	51.0%	14.6%	20.3%	38.5%	0.0%	1.9%	-9.8%	8.7K	-2.0M	-1.3K	0.00	114.17	0	0	568	25
2025-01-28	$40.70	$25.00	35.9%	10.3%	20.1%	20.9%	0.0%	7.7%	6.9%	8.1K	-2.0M	-1.3K	0.00	112.92	103	0	568	25
2025-01-29	$41.56	$25.00	50.4%	14.5%	20.3%	37.9%	52.6%	-7.5%	-3.1%	11.9K	-2.3M	-1.7K	0.00	112.41	189	0	621	25
2025-01-30	$41.35	$25.00	47.8%	13.7%	20.5%	34.8%	55.0%	-17.1%	-4.8%	18.4K	-2.7M	-2.1K	0.00	103.93	16	0	761	25
2025-01-31	$40.83	$25.00	56.7%	16.3%	21.1%	45.1%	0.0%	3.1%	-7.6%	18.6K	-2.7M	-2.1K	0.00	95.96	5	0	773	25