CSV Options History — September 2025

In September 2025, CSV traded between $41.47 and $45.34. ATM implied volatility averaged 29.8%, placing in the 16.5% IV rank vs the trailing year. The 30-day expected move averaged 8.3%. IV traded above realized volatility by 3.8% (HV 20d: 26.0%). Max pain ranged from $30.00 to $45.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 19 of 21 days. Put/call ratio averaged 0.54.

Notable Days

2025-09-18: Highest Volume — 1,293 contracts
2025-09-18: Largest IV spike — 75.0% change
2025-09-09: Highest IV Rank — 31.8%
2025-09-03: Largest Expected Move — 11.3%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$43.55	$41.47	$45.34	$42.74	$44.45
Max Pain	$31.43	$30.00	$45.00	$45.00	$30.00
ATM IV	29.8%	20.7%	40.8%	27.4%	29.7%
Expected Move	8.3%	5.9%	11.3%	7.8%	8.5%
HV 20d	26.0%	23.6%	28.3%	28.2%	26.8%
HV 60d	23.2%	21.9%	24.3%	21.9%	24.3%
IV Rank	16.5%	3.9%	31.8%	13.2%	16.4%
IV Percentile	21.3%	2.0%	56.0%	11.9%	18.3%
Term Structure	4.5%	-14.0%	19.9%	2.7%	2.7%
VWIV	31.9%	23.8%	43.1%	31.7%	29.6%
Skew 25d	6.6%	-5.4%	15.1%	-0.8%	-5.4%
Skew 10d	11.7%	-0.3%	27.6%	12.9%	-0.3%
Call IV 25d	27.6%	20.7%	37.3%	31.1%	37.3%
Put IV 25d	34.2%	30.3%	43.7%	30.4%	31.9%
Bid-Ask Spread %	97.21	67.11	110.66	108.99	89.82
Gamma HHI	0.40	0.31	0.48	0.40	0.35
Net GEX	6.4K	5.3K	8.1K	6.3K	7.7K
Net DEX	-582.1K	-693.0K	-494.8K	-558.4K	-657.4K
Net VEX	-1.0K	-1.1K	-892	-911	-1.1K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.54	0.00	7.50	0.00	0.33
Total Volume	65.333	0	1,293	1	0
Total OI	273.048	232	818	232	264

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
2025-09-02	$42.74	$45.00	27.4%	7.8%	28.2%	13.2%	0.0%	-0.8%	2.7%	6.3K	-558.4K	-911	0.00	108.99	1	0	196	36
2025-09-03	$42.19	$45.00	39.4%	11.3%	28.3%	29.7%	0.0%	7.8%	-14.0%	5.8K	-518.6K	-989	0.50	110.66	2	1	197	36
2025-09-04	$43.05	$30.00	28.2%	7.8%	28.2%	14.2%	0.0%	12.5%	4.3%	6.0K	-548.6K	-957	0.00	103.59	1	0	197	37
2025-09-05	$42.70	$30.00	23.4%	7.4%	25.4%	7.7%	0.0%	5.4%	2.0%	6.5K	-544.5K	-934	0.00	101.69	0	0	198	37
2025-09-08	$43.32	$30.00	34.7%	8.4%	25.5%	23.3%	31.7%	6.4%	5.9%	6.5K	-581.1K	-901	0.00	104.17	1	0	198	37
2025-09-09	$42.58	$30.00	40.8%	7.2%	24.9%	31.8%	32.4%	4.9%	5.0%	6.7K	-549.2K	-905	0.00	103.64	1	0	199	37
2025-09-10	$41.47	$30.00	38.0%	10.9%	23.6%	27.8%	0.0%	6.9%	1.1%	6.2K	-494.8K	-892	7.50	105.31	2	15	200	37
2025-09-11	$42.40	$30.00	34.2%	9.8%	25.9%	22.5%	0.0%	8.5%	5.4%	6.0K	-503.8K	-1.1K	0.00	102.67	0	0	201	51
2025-09-12	$42.80	$30.00	31.9%	9.1%	23.8%	19.4%	31.9%	3.1%	0.2%	6.3K	-524.2K	-1.1K	0.00	99.54	2	0	201	51
2025-09-15	$42.61	$30.00	25.0%	7.2%	23.7%	9.8%	0.0%	5.1%	5.1%	6.5K	-530.5K	-1.1K	0.00	98.86	1	0	203	51
2025-09-16	$42.99	$30.00	26.9%	7.7%	24.1%	12.4%	28.0%	4.8%	3.9%	6.7K	-534.8K	-1.1K	0.00	95.43	2	0	202	51
2025-09-17	$43.43	$30.00	22.2%	6.4%	24.4%	6.0%	43.1%	15.1%	7.2%	6.5K	-557.6K	-1.1K	0.33	104.58	9	3	203	51
2025-09-18	$44.34	$30.00	38.9%	11.2%	25.1%	29.1%	0.0%	12.5%	-7.6%	8.1K	-611.2K	-1.1K	0.00	102.45	1,292	1	204	52
2025-09-19	$43.81	$30.00	20.7%	5.9%	25.4%	3.9%	35.9%	5.4%	14.2%	6.5K	-576.4K	-1.0K	0.00	99.28	6	0	766	52
2025-09-22	$45.34	$30.00	33.3%	9.5%	27.8%	21.3%	33.3%	12.2%	1.9%	6.6K	-656.8K	-1.0K	0.00	92.08	2	0	196	41
2025-09-23	$44.88	$30.00	27.4%	7.8%	26.7%	13.1%	29.2%	11.4%	7.4%	5.4K	-649.1K	-970	0.00	67.11	0	2	197	41
2025-09-24	$44.78	$30.00	20.8%	6.0%	26.6%	4.1%	23.8%	9.6%	19.9%	5.7K	-626.4K	-1.0K	0.00	86.79	12	0	197	42
2025-09-25	$44.19	$30.00	23.1%	6.6%	26.9%	7.3%	0.0%	2.6%	8.8%	5.3K	-630.5K	-981	0.00	84.66	12	0	209	42
2025-09-26	$45.22	$30.00	29.8%	8.6%	27.5%	16.6%	0.0%	6.6%	11.2%	6.6K	-677.1K	-1.1K	0.00	97.52	0	0	220	42
2025-09-29	$45.22	$30.00	29.1%	8.4%	27.5%	15.6%	29.6%	4.2%	7.6%	6.0K	-693.0K	-1.0K	0.33	82.69	3	1	220	42
2025-09-30	$44.45	$30.00	29.7%	8.5%	26.8%	16.4%	0.0%	-5.4%	2.7%	7.7K	-657.4K	-1.1K	0.00	89.82	0	0	223	41