CTL Options History — September 2020

In September 2020, CTL traded between $10.59 and $11.06. ATM implied volatility averaged 38.6%, placing in the 6.1% IV rank vs the trailing year. The 30-day expected move averaged 10.5%. IV traded above realized volatility by 4.2% (HV 20d: 34.4%). Max pain ranged from $10.00 to $11.00. Net GEX was positive for 6 of 12 trading days. Term structure was in contango for 8 of 12 days. Put/call ratio averaged 0.84.

Notable Days

  • 2020-09-16: Highest Volume — 32,185 contracts
  • 2020-09-03: Largest IV spike — 15.1% change
  • 2020-09-03: Highest IV Rank — 9.7%
  • 2020-09-03: Largest Expected Move — 12.0%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$10.83$10.59$11.06$10.64$10.97
Max Pain$10.17$10.00$11.00$11.00$10.00
ATM IV38.6%33.2%45.5%41.1%35.0%
Expected Move10.5%9.4%12.0%10.8%9.9%
HV 20d34.4%30.3%40.2%39.5%30.3%
HV 60d35.2%33.4%39.9%39.8%33.7%
IV Rank6.1%2.8%9.7%7.9%3.7%
IV Percentile32.1%17.1%49.6%39.7%21.4%
Term Structure1.4%-5.4%11.6%0.4%4.3%
VWIV37.0%33.0%41.9%37.8%36.5%
Skew 25d5.8%1.4%10.5%10.5%5.5%
Skew 10d13.4%-0.3%27.2%14.8%9.2%
Call IV 25d36.5%32.7%41.3%35.3%33.6%
Put IV 25d42.3%37.4%48.6%45.8%39.1%
Bid-Ask Spread %18.077.2555.5811.898.16
Gamma HHI0.150.130.190.130.19
Net GEX224.5K-331.3K1.2M-287.0K1.2M
Net DEX31.7M18.0M41.8M41.8M22.8M
Net VEX-492.3K-535.1K-445.1K-521.5K-475.7K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.840.164.951.160.79
Total Volume8,399.5834,25832,1856,2224,721
Total OI394,427.75388,619403,930388,619393,944

Daily Data (12 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2020-09-01$10.64$11.0041.1%10.8%39.5%7.9%37.8%10.5%0.4%-287.0K41.8M-521.5K1.1611.89N/AN/A2,8753,347143,709244,910
2020-09-02$10.93$11.0039.6%10.6%40.2%6.8%37.2%8.1%5.6%116.0K29.1M-516.2K0.1629.15N/AN/A5,116820145,030247,084
2020-09-03$10.72$10.0045.5%12.0%35.5%9.7%41.9%7.3%1.7%-177.1K39.5M-535.1K0.4148.81N/AN/A3,9151,624147,328247,357
2020-09-04$10.81$10.0043.7%11.3%35.5%7.4%39.0%5.4%11.6%-82.8K35.3M-507.1K0.2655.58N/AN/A5,1131,308148,950247,663
2020-09-08$10.70$10.0043.8%11.3%33.4%9.4%40.0%6.3%-5.4%-112.7K36.7M-487.0K0.649.81N/AN/A3,5812,306143,977245,401
2020-09-09$10.86$10.0038.6%10.5%33.1%6.2%36.2%5.8%-1.2%190.4K31.0M-488.7K0.267.25N/AN/A3,376882145,706246,642
2020-09-10$10.59$10.0036.3%10.6%33.2%4.8%38.2%1.4%-1.5%-237.4K39.5M-494.1K0.4011.72N/AN/A4,1471,664147,610246,958
2020-09-11$10.68$10.0037.7%10.0%33.4%6.5%37.2%4.0%-4.4%-331.3K37.4M-445.1K0.468.31N/AN/A4,6512,156148,337248,062
2020-09-14$10.93$10.0035.1%9.9%33.3%3.8%33.7%5.5%2.1%425.7K28.0M-468.4K0.277.56N/AN/A9,2992,537146,459245,452
2020-09-15$11.03$10.0033.2%9.4%32.7%2.8%33.9%5.6%1.9%800.3K21.6M-504.5K0.2810.21N/AN/A4,0311,141151,076247,548
2020-09-16$11.06$10.0034.0%9.8%32.7%3.5%33.0%4.8%2.2%1.2M18.0M-464.1K4.958.43N/AN/A5,40526,780155,856248,074
2020-09-17$10.97$10.0035.0%9.9%30.3%3.7%36.5%5.5%4.3%1.2M22.8M-475.7K0.798.16N/AN/A2,6422,079157,554236,390