CSV Options History — May 2025

In May 2025, CSV traded between $39.69 and $44.05. ATM implied volatility averaged 34.5%, placing in the 20.3% IV rank vs the trailing year. The 30-day expected move averaged 8.3%. IV traded above realized volatility by 9.6% (HV 20d: 24.9%). Max pain ranged from $35.00 to $45.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 14 of 21 days. Put/call ratio averaged 0.09.

Notable Days

2025-05-15: Highest Volume — 170 contracts
2025-05-22: Largest IV spike — 50.7% change
2025-05-08: Highest IV Rank — 52.5%
2025-05-08: Largest Expected Move — 11.4%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$42.14	$39.69	$44.05	$39.93	$43.41
Max Pain	$37.14	$35.00	$45.00	$35.00	$40.00
ATM IV	34.5%	18.8%	62.6%	38.0%	26.8%
Expected Move	8.3%	5.4%	11.4%	10.9%	7.7%
HV 20d	24.9%	22.2%	31.2%	31.2%	23.0%
HV 60d	25.7%	24.5%	26.5%	26.1%	25.1%
IV Rank	20.3%	1.3%	52.5%	23.4%	12.4%
IV Percentile	30.5%	0.4%	95.2%	37.7%	9.1%
Term Structure	3.7%	-5.9%	15.0%	7.1%	0.1%
VWIV	28.8%	15.7%	44.4%	40.5%	19.3%
Skew 25d	2.2%	-9.0%	19.2%	3.6%	-9.0%
Skew 10d	1.6%	-15.9%	32.1%	5.8%	-15.9%
Call IV 25d	27.1%	17.6%	43.9%	40.7%	31.9%
Put IV 25d	29.4%	19.3%	63.1%	44.3%	22.9%
Bid-Ask Spread %	103.93	84.53	116.65	108.72	103.75
Gamma HHI	0.35	0.26	0.46	0.36	0.37
Net GEX	16.9K	8.5K	21.2K	8.5K	20.7K
Net DEX	-1.8M	-2.5M	-1.4M	-1.4M	-1.6M
Net VEX	-1.4K	-1.8K	-886	-964	-1.6K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.09	0.00	1.00	0.14	1.00
Total Volume	29.476	0	170	16	2
Total OI	551.19	458	708	494	462

Daily Data (21 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
2025-05-01	$39.93	$35.00	38.0%	10.9%	31.2%	23.4%	40.5%	3.6%	7.1%	8.5K	-1.4M	-964	0.14	108.72	14	2	441	53
2025-05-02	$40.30	$35.00	37.0%	10.6%	30.5%	22.3%	0.0%	19.2%	-0.4%	12.3K	-1.5M	-886	0.00	84.53	16	0	450	53
2025-05-05	$39.69	$45.00	53.9%	10.1%	28.9%	42.3%	30.9%	-4.0%	2.9%	9.3K	-1.5M	-1.1K	0.00	105.66	2	0	457	53
2025-05-06	$40.45	$35.00	42.2%	9.1%	26.7%	28.5%	31.8%	4.4%	2.3%	11.5K	-1.5M	-951	0.05	103.71	20	1	458	53
2025-05-07	$40.90	$35.00	53.7%	11.1%	25.4%	42.1%	0.0%	-1.9%	-5.9%	11.1K	-1.6M	-1.1K	0.00	116.65	160	0	478	54
2025-05-08	$41.02	$35.00	62.6%	11.4%	24.7%	52.5%	0.0%	-0.0%	-0.2%	15.4K	-2.2M	-1.8K	0.00	107.09	1	0	638	54
2025-05-09	$41.35	$35.00	54.2%	10.3%	24.4%	42.6%	44.4%	2.0%	-3.0%	16.3K	-2.3M	-1.6K	0.00	97.34	31	0	638	54
2025-05-12	$41.59	$35.00	45.0%	7.6%	23.1%	31.8%	0.0%	2.7%	15.0%	19.5K	-2.2M	-1.5K	0.00	97.05	34	0	608	54
2025-05-13	$42.45	$35.00	36.3%	6.7%	23.1%	21.7%	21.9%	-5.9%	0.8%	18.7K	-2.4M	-1.5K	0.33	105.44	3	1	642	54
2025-05-14	$41.68	$35.00	27.1%	7.8%	24.1%	10.8%	33.4%	4.4%	-1.8%	20.4K	-2.3M	-1.6K	0.00	111.06	15	0	642	55
2025-05-15	$43.20	$35.00	22.2%	6.4%	26.5%	5.0%	15.7%	18.6%	14.9%	20.7K	-2.5M	-1.5K	0.00	111.71	170	0	653	55
2025-05-16	$44.05	$35.00	23.5%	6.7%	26.6%	7.8%	35.2%	4.4%	6.0%	18.0K	-2.1M	-1.5K	0.00	106.18	38	0	549	55
2025-05-19	$43.73	$35.00	24.1%	6.9%	23.8%	8.6%	24.4%	-1.1%	3.8%	18.8K	-1.9M	-1.5K	0.00	99.17	3	0	507	4
2025-05-20	$43.46	$35.00	24.1%	6.9%	22.2%	8.7%	19.2%	4.2%	11.9%	18.3K	-1.9M	-1.5K	0.03	93.71	64	2	510	4
2025-05-21	$42.80	$40.00	22.9%	6.6%	23.3%	6.9%	0.0%	2.9%	11.1%	18.2K	-1.7M	-1.6K	0.00	100.87	33	0	483	6
2025-05-22	$42.23	$40.00	34.5%	9.9%	22.9%	23.0%	0.0%	5.2%	-5.1%	17.2K	-1.5M	-1.8K	0.00	102.23	0	0	452	6
2025-05-23	$42.30	$40.00	32.9%	9.4%	22.9%	20.9%	0.0%	10.1%	-2.0%	18.4K	-1.5M	-1.7K	0.00	106.44	0	0	452	6
2025-05-27	$43.18	$40.00	18.8%	5.4%	23.3%	1.3%	19.3%	-2.8%	7.5%	21.2K	-1.6M	-1.5K	0.00	107.93	7	0	452	6
2025-05-28	$43.47	$40.00	25.2%	7.2%	23.3%	10.1%	0.0%	-7.9%	3.1%	19.9K	-1.6M	-1.5K	0.00	107.89	0	0	456	6
2025-05-29	$43.65	$40.00	19.9%	5.7%	22.8%	2.8%	0.0%	-2.4%	8.9%	21.0K	-1.6M	-1.5K	0.00	105.45	0	0	456	6
2025-05-30	$43.41	$40.00	26.8%	7.7%	23.0%	12.4%	0.0%	-9.0%	0.1%	20.7K	-1.6M	-1.6K	1.00	103.75	1	1	456	6