CTL Options History — May 2018

In May 2018, CTL traded between $18.02 and $19.64. ATM implied volatility averaged 33.3%, placing in the 28.0% IV rank vs the trailing year. The 30-day expected move averaged 12.6%. IV traded above realized volatility by 2.2% (HV 20d: 31.2%). Max pain ranged from $17.50 to $18.00. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 8 of 22 days. Put/call ratio averaged 1.16.

Notable Days

2018-05-08: Highest Volume — 53,862 contracts
2018-05-17: Largest IV spike — 89.6% change
2018-05-17: Highest IV Rank — 49.3%
2018-05-08: Largest Expected Move — 23.0%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$18.74	$18.02	$19.64	$18.45	$18.22
Max Pain	$17.95	$17.50	$18.00	$17.50	$18.00
ATM IV	33.3%	24.4%	52.8%	39.9%	25.1%
Expected Move	12.6%	6.9%	23.0%	12.5%	7.5%
HV 20d	31.2%	21.7%	35.1%	25.2%	34.3%
HV 60d	32.7%	30.3%	36.6%	36.6%	30.3%
IV Rank	28.0%	20.3%	49.3%	34.4%	21.1%
IV Percentile	35.8%	11.1%	96.0%	62.7%	11.5%
Term Structure	-4.2%	-49.2%	25.0%	-0.6%	0.3%
VWIV	31.6%	8.2%	96.7%	44.8%	46.1%
Skew 25d	9.2%	3.9%	46.5%	9.3%	7.6%
Skew 10d	16.6%	-14.6%	51.2%	9.7%	14.1%
Call IV 25d	29.1%	12.0%	66.7%	33.4%	21.7%
Put IV 25d	38.3%	26.7%	75.6%	42.7%	29.3%
Bid-Ask Spread %	16.24	6.68	35.16	25.45	7.66
Gamma HHI	0.34	0.14	0.56	0.25	0.49
Net GEX	8.4M	1.3M	15.2M	9.9M	8.4M
Net DEX	-163.8M	-324.9M	-1.1M	-201.7M	-1.1M
Net VEX	-1.7M	-15.9M	-782.7K	-1.1M	-857.6K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	1.16	0.24	5.56	1.28	0.24
Total Volume	23,865.455	11,878	53,862	18,224	41,523
Total OI	560,453.136	530,757	580,343	553,521	572,682

Daily Data (22 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 Wall	Put Wall	Call Vol	Put Vol	Call OI	Put OI
2018-05-01	$18.45	$17.50	39.9%	12.5%	25.2%	34.4%	44.8%	9.3%	-0.6%	9.9M	-201.7M	-1.1M	1.28	25.45	N/A	N/A	7,980	10,244	296,197	257,324
2018-05-02	$18.45	$17.50	28.1%	12.2%	21.7%	23.7%	44.2%	6.1%	13.9%	9.8M	-218.1M	-1.1M	1.08	35.16	N/A	N/A	10,774	11,589	297,760	259,145
2018-05-03	$18.05	$18.00	42.8%	22.7%	23.4%	37.4%	55.4%	6.5%	-3.3%	2.0M	-173.5M	-835.4K	1.00	16.70	N/A	N/A	8,966	8,984	297,480	260,655
2018-05-04	$18.48	$18.00	38.3%	20.8%	24.3%	32.7%	9.2%	5.2%	0.7%	5.7M	-190.2M	-791.1K	1.00	16.53	N/A	N/A	10,289	10,299	299,626	262,240
2018-05-07	$18.43	$18.00	40.4%	21.3%	24.2%	34.4%	53.7%	8.6%	-36.2%	8.1M	-232.9M	-1.2M	1.18	12.69	N/A	N/A	6,708	7,929	296,806	261,279
2018-05-08	$18.11	$18.00	40.0%	23.0%	24.8%	34.8%	96.7%	7.7%	-35.8%	1.3M	-171.0M	-782.7K	5.56	26.83	N/A	N/A	8,205	45,657	298,926	263,004
2018-05-09	$18.02	$18.00	45.6%	20.7%	24.3%	39.3%	8.2%	21.8%	-49.2%	2.0M	-146.2M	-15.9M	1.23	30.63	N/A	N/A	13,246	16,315	301,421	255,267
2018-05-10	$19.42	$18.00	52.2%	17.3%	35.1%	43.6%	12.9%	6.6%	-22.7%	10.3M	-324.9M	-1.1M	0.48	12.91	N/A	N/A	30,255	14,570	307,171	261,819
2018-05-11	$19.64	$18.00	28.7%	7.9%	34.2%	24.7%	27.4%	5.2%	-3.2%	10.1M	-216.1M	-1.0M	0.49	25.74	N/A	N/A	17,936	8,752	312,482	263,127
2018-05-14	$19.26	$18.00	27.5%	7.8%	35.0%	23.0%	25.4%	8.9%	-0.1%	9.6M	-161.8M	-1.0M	0.73	11.80	N/A	N/A	10,984	8,040	309,124	252,339
2018-05-15	$19.34	$18.00	28.5%	8.2%	34.8%	24.1%	21.6%	46.5%	25.0%	9.0M	-279.8M	-1.1M	1.00	11.33	N/A	N/A	6,250	6,261	312,043	254,721
2018-05-16	$19.24	$18.00	27.9%	8.0%	34.9%	23.5%	27.3%	8.9%	1.5%	9.4M	-159.2M	-971.4K	1.09	9.43	N/A	N/A	5,696	6,182	312,223	255,179
2018-05-17	$19.26	$18.00	52.8%	16.3%	34.4%	49.3%	15.0%	5.2%	22.4%	15.2M	-301.5M	-1.0M	0.82	10.01	N/A	N/A	7,880	6,496	313,316	256,264
2018-05-18	$19.33	$18.00	26.3%	7.6%	34.4%	22.4%	24.8%	9.0%	-0.2%	9.4M	-174.1M	-998.9K	0.73	13.72	N/A	N/A	9,599	7,044	312,164	256,694
2018-05-21	$19.24	$18.00	37.3%	18.1%	34.5%	20.3%	22.0%	5.1%	1.0%	10.2M	-307.8M	-920.1K	0.86	13.53	N/A	N/A	8,004	6,882	290,082	240,675
2018-05-22	$19.30	$18.00	24.4%	6.9%	34.5%	20.4%	23.0%	5.7%	-1.2%	8.6M	-140.9M	-924.2K	1.01	9.96	N/A	N/A	10,634	10,705	295,218	242,047
2018-05-23	$18.97	$18.00	24.9%	7.2%	33.6%	20.9%	24.8%	6.2%	0.9%	9.0M	-106.6M	-953.7K	1.08	26.65	N/A	N/A	6,934	7,509	301,477	245,729
2018-05-24	$18.50	$18.00	25.8%	7.4%	34.8%	21.8%	25.0%	5.4%	-0.6%	8.9M	-54.9M	-953.0K	0.79	11.37	N/A	N/A	9,417	7,421	303,034	246,857
2018-05-25	$18.16	$18.00	25.3%	7.3%	34.7%	21.9%	28.5%	3.9%	-4.0%	9.4M	-20.4M	-911.3K	1.50	10.42	N/A	N/A	19,977	29,889	307,376	248,345
2018-05-29	$18.23	$18.00	26.4%	8.3%	34.4%	22.1%	28.3%	7.7%	-0.6%	9.2M	-9.6M	-931.6K	0.51	12.12	N/A	N/A	20,005	10,177	314,963	265,380
2018-05-30	$18.27	$18.00	25.4%	7.6%	34.3%	21.3%	30.0%	6.3%	-0.4%	8.4M	-10.9M	-926.0K	1.87	6.68	N/A	N/A	4,479	8,354	304,615	265,693
2018-05-31	$18.22	$18.00	25.1%	7.5%	34.3%	21.1%	46.1%	7.6%	0.3%	8.4M	-1.1M	-857.6K	0.24	7.66	N/A	N/A	33,515	8,008	305,159	267,523