CTL Options History — April 2020

In April 2020, CTL traded between $8.70 and $11.07. ATM implied volatility averaged 68.5%, placing in the 24.6% IV rank vs the trailing year. The 30-day expected move averaged 20.0%. IV traded below realized volatility by 20.0% (HV 20d: 88.5%). Max pain ranged from $11.50 to $14.00. Net GEX was positive for 0 of 21 trading days. Term structure was in contango for 9 of 21 days. Put/call ratio averaged 0.79.

Notable Days

  • 2020-04-09: Highest Volume — 12,030 contracts
  • 2020-04-02: Largest IV drop — 18.3% change
  • 2020-04-01: Highest IV Rank — 38.1%
  • 2020-04-01: Largest Expected Move — 25.1%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$9.96$8.70$11.07$8.70$10.62
Max Pain$12.79$11.50$14.00$14.00$11.50
ATM IV68.5%55.8%90.5%90.5%57.8%
Expected Move20.0%16.6%25.1%25.1%20.2%
HV 20d88.5%58.3%114.3%112.7%58.3%
HV 60d77.4%74.3%79.6%74.3%79.6%
IV Rank24.6%16.9%38.1%38.1%18.5%
IV Percentile91.5%85.7%97.2%97.2%87.3%
Term Structure-3.8%-67.7%13.8%-67.7%-4.2%
VWIV67.6%55.0%86.2%86.2%67.4%
Skew 25d16.5%-2.6%24.7%-2.6%15.4%
Skew 10d31.2%-1.6%48.3%48.3%40.4%
Call IV 25d59.0%47.0%98.5%98.5%50.6%
Put IV 25d75.5%61.1%96.0%96.0%66.1%
Bid-Ask Spread %20.7912.4841.5236.6714.28
Gamma HHI0.150.120.180.180.12
Net GEX-686.9K-1.0M-398.3K-721.0K-398.3K
Net DEX83.7M51.2M106.4M106.4M58.4M
Net VEX-462.9K-510.9K-442.4K-446.0K-471.8K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.790.143.153.150.66
Total Volume5,911.7142,56112,0307,1703,618
Total OI313,320.286265,241351,069351,069276,702

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2020-04-01$8.70$14.0090.5%25.1%112.7%38.1%86.2%-2.6%-67.7%-721.0K106.4M-446.0K3.1536.67N/AN/A1,7285,442134,339216,730
2020-04-02$8.72$13.0073.9%20.0%112.8%26.6%72.3%22.0%13.8%-724.3K104.2M-455.2K0.7233.25N/AN/A1,7571,273134,411216,652
2020-04-03$9.09$13.0078.5%22.0%114.3%29.0%80.0%24.7%8.9%-557.2K102.6M-450.5K0.1623.95N/AN/A6,010957134,863216,165
2020-04-06$9.39$13.0071.4%21.2%105.2%26.2%72.3%15.0%8.5%-883.6K104.5M-449.9K0.2041.52N/AN/A7,6281,530129,629214,484
2020-04-07$9.61$13.0074.9%18.8%103.0%29.6%65.2%17.5%-7.1%-711.4K96.1M-490.5K0.6139.44N/AN/A2,6881,634130,353214,527
2020-04-08$9.77$13.0064.2%18.9%101.4%22.0%63.6%16.8%4.6%-746.2K100.2M-442.4K0.3419.91N/AN/A3,0001,019131,330213,917
2020-04-09$10.74$13.0063.9%16.6%100.7%22.6%58.3%18.9%-5.8%-1.0M82.9M-510.9K0.1422.70N/AN/A10,5471,483131,799214,308
2020-04-13$10.11$13.0070.7%20.1%99.7%25.6%68.3%15.7%-3.4%-932.5K96.9M-476.5K0.7814.22N/AN/A2,7532,145127,353213,203
2020-04-14$10.28$13.0069.0%19.8%98.8%24.9%67.6%20.1%-3.1%-923.5K95.7M-484.1K0.3112.71N/AN/A3,8541,202127,629214,424
2020-04-15$10.14$13.0068.2%19.6%93.6%24.5%65.4%20.3%2.4%-870.5K97.8M-470.7K0.3213.77N/AN/A2,124675128,805214,411
2020-04-16$9.81$13.0068.4%19.6%90.9%24.5%68.5%15.5%0.9%-858.1K102.0M-454.2K0.5312.48N/AN/A2,2781,206129,476214,120
2020-04-17$10.26$13.0066.8%19.1%92.3%23.4%59.7%15.7%-0.6%-730.3K96.0M-460.3K0.2219.61N/AN/A6,1941,377130,430214,654
2020-04-20$10.18$13.0068.6%20.6%85.2%24.1%66.9%13.5%0.5%-633.2K65.8M-474.3K0.3716.00N/AN/A5,2231,92296,739168,502
2020-04-21$9.72$13.0077.7%22.3%84.5%30.2%78.3%17.9%0.2%-580.8K70.3M-447.2K0.7221.74N/AN/A1,4861,075100,961169,786
2020-04-22$9.70$13.0075.4%22.2%70.9%28.8%73.6%18.0%-10.5%-593.2K71.7M-445.8K2.5016.62N/AN/A2,0805,205101,534170,370
2020-04-23$9.95$13.0068.7%20.4%68.5%25.3%55.0%21.1%-9.1%-481.2K68.3M-449.7K2.0215.76N/AN/A2,9816,022102,204167,293
2020-04-24$10.26$12.0060.2%18.9%68.6%19.4%63.0%16.4%-3.8%-579.4K63.9M-455.9K0.3715.18N/AN/A3,9131,459103,451167,113
2020-04-27$10.39$12.0056.3%17.7%68.4%17.2%59.9%18.4%3.1%-522.1K63.1M-449.6K0.5115.83N/AN/A2,7531,410102,169164,123
2020-04-28$10.64$12.0058.2%18.4%64.5%18.1%68.0%16.3%-4.9%-445.3K59.5M-456.2K1.8313.78N/AN/A2,3164,248103,968164,943
2020-04-29$11.07$12.0055.8%17.9%64.4%16.9%60.6%10.4%-3.1%-504.0K51.2M-480.0K0.1717.14N/AN/A6,7721,159104,986166,870
2020-04-30$10.62$11.5057.8%20.2%58.3%18.5%67.4%15.4%-4.2%-398.3K58.4M-471.8K0.6614.28N/AN/A2,1821,436108,872167,830