CWH Options History — December 2025

In December 2025, CWH traded between $9.77 and $11.41. ATM implied volatility averaged 56.0%, placing in the 17.1% IV rank vs the trailing year. The 30-day expected move averaged 15.8%. IV traded above realized volatility by 3.9% (HV 20d: 52.1%). Max pain ranged from $10.00 to $15.00. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 15 of 22 days. Put/call ratio averaged 1.26.

Notable Days

2025-12-09: Highest Volume — 8,661 contracts
2025-12-10: Largest IV drop — 18.8% change
2025-12-09: Highest IV Rank — 34.8%
2025-12-03: Largest Expected Move — 17.2%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$10.37	$9.77	$11.41	$11.12	$9.79
Max Pain	$11.50	$10.00	$15.00	$12.00	$10.00
ATM IV	56.0%	46.7%	69.2%	58.6%	48.4%
Expected Move	15.8%	13.4%	17.2%	16.8%	13.9%
HV 20d	52.1%	28.2%	72.8%	71.8%	28.2%
HV 60d	76.4%	74.3%	78.4%	78.2%	74.3%
IV Rank	17.1%	3.6%	34.8%	21.3%	5.9%
IV Percentile	49.9%	2.0%	89.7%	64.7%	9.9%
Term Structure	2.4%	-3.5%	8.0%	-2.6%	4.7%
VWIV	55.3%	35.5%	61.2%	59.4%	35.5%
Skew 25d	4.4%	0.0%	10.8%	4.8%	1.6%
Skew 10d	10.6%	-11.0%	25.1%	-11.0%	5.2%
Call IV 25d	55.6%	50.6%	59.8%	55.7%	52.0%
Put IV 25d	60.0%	53.6%	67.6%	60.6%	53.6%
Bid-Ask Spread %	83.44	73.41	90.37	78.78	81.54
Gamma HHI	0.28	0.23	0.32	0.29	0.30
Net GEX	204.5K	139.8K	382.6K	206.9K	139.8K
Net DEX	-11.9M	-20.1M	-9.5M	-13.6M	-9.5M
Net VEX	-198.9K	-226.2K	-176.4K	-222.8K	-176.4K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	1.26	0.03	4.10	2.34	0.26
Total Volume	1,344.909	85	8,661	187	456
Total OI	62,796.864	58,793	70,954	60,740	59,702

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
2025-12-01	$11.12	$12.00	58.6%	16.8%	71.8%	21.3%	59.4%	4.8%	-2.6%	206.9K	-13.6M	-222.8K	2.34	78.78	N/A	N/A	56	131	52,932	7,808
2025-12-02	$11.41	$12.00	59.2%	17.0%	72.8%	22.1%	61.2%	2.3%	-1.9%	197.0K	-15.7M	-226.2K	0.91	82.65	N/A	N/A	296	268	52,947	7,846
2025-12-03	$11.27	$12.00	59.9%	17.2%	67.9%	23.0%	60.2%	3.7%	-3.4%	205.9K	-14.6M	-219.5K	0.63	87.35	N/A	N/A	248	157	53,139	7,930
2025-12-04	$11.11	$15.00	57.3%	15.7%	65.8%	19.6%	54.7%	6.2%	6.7%	185.2K	-15.8M	-222.5K	2.80	84.82	N/A	N/A	65	182	53,214	8,052
2025-12-05	$10.73	$15.00	54.7%	16.1%	64.6%	16.4%	56.7%	3.6%	4.3%	181.7K	-13.3M	-215.7K	0.70	84.78	N/A	N/A	297	209	53,227	8,038
2025-12-08	$10.57	$15.00	59.0%	15.7%	62.9%	21.9%	55.7%	3.3%	5.0%	171.6K	-9.8M	-193.2K	3.85	89.50	N/A	N/A	271	1,044	53,444	8,177
2025-12-09	$10.41	$14.00	69.2%	15.8%	60.1%	34.8%	56.9%	4.2%	6.2%	164.9K	-10.8M	-197.7K	0.03	90.21	N/A	N/A	8,449	212	53,636	9,116
2025-12-10	$10.71	$10.00	56.2%	16.1%	61.3%	18.3%	57.2%	5.7%	1.9%	382.6K	-20.1M	-215.1K	0.09	87.57	N/A	N/A	6,531	570	61,787	9,167
2025-12-11	$10.48	$11.00	56.2%	16.1%	61.5%	18.3%	56.6%	3.1%	5.4%	254.1K	-12.6M	-198.3K	0.34	87.90	N/A	N/A	1,154	396	56,652	9,573
2025-12-12	$10.30	$11.00	58.6%	16.8%	60.5%	21.3%	53.0%	10.8%	5.3%	228.7K	-11.5M	-200.2K	0.08	87.34	N/A	N/A	1,266	98	56,423	9,866
2025-12-15	$10.02	$11.00	56.0%	16.0%	60.8%	18.0%	58.7%	5.9%	8.0%	211.7K	-11.3M	-199.4K	2.99	85.89	N/A	N/A	404	1,207	56,308	9,899
2025-12-16	$10.21	$11.00	56.7%	16.3%	57.3%	18.9%	60.0%	1.2%	5.4%	222.9K	-10.6M	-199.9K	1.05	89.95	N/A	N/A	535	561	56,301	10,205
2025-12-17	$10.11	$11.00	54.1%	15.5%	57.5%	15.6%	54.8%	4.6%	6.2%	236.6K	-9.7M	-193.2K	0.57	90.37	N/A	N/A	415	237	56,574	10,614
2025-12-18	$9.95	$11.00	56.9%	16.3%	53.5%	17.0%	57.7%	5.8%	-3.5%	223.3K	-10.0M	-188.6K	2.39	82.79	N/A	N/A	262	627	56,742	10,487
2025-12-19	$10.06	$11.00	54.2%	15.5%	53.6%	13.5%	54.8%	3.7%	1.1%	357.3K	-11.2M	-193.0K	1.12	83.51	N/A	N/A	345	385	56,840	10,229
2025-12-22	$9.98	$11.00	46.7%	13.4%	39.9%	3.6%	51.7%	4.3%	5.3%	159.3K	-10.2M	-188.9K	0.56	74.93	N/A	N/A	406	227	50,257	8,536
2025-12-23	$10.04	$10.00	53.7%	15.4%	28.4%	12.9%	54.1%	6.3%	-0.9%	147.0K	-10.0M	-180.2K	0.22	74.71	N/A	N/A	235	52	50,506	8,440
2025-12-24	$10.18	$10.00	53.6%	15.4%	28.4%	12.7%	52.8%	4.3%	-1.5%	164.9K	-11.1M	-190.2K	0.59	80.00	N/A	N/A	59	35	50,617	8,473
2025-12-26	$10.18	$10.00	54.5%	15.6%	28.5%	13.9%	54.6%	7.4%	1.0%	166.7K	-10.4M	-188.2K	1.36	78.88	N/A	N/A	36	49	50,644	8,502
2025-12-29	$9.77	$10.00	55.0%	15.8%	30.4%	14.5%	57.4%	3.0%	0.1%	147.5K	-9.9M	-182.5K	0.64	73.41	N/A	N/A	405	260	50,655	8,496
2025-12-30	$9.79	$10.00	53.6%	15.4%	30.5%	12.7%	53.0%	0.0%	-0.1%	144.2K	-10.2M	-185.1K	4.10	78.76	N/A	N/A	96	394	50,865	8,665
2025-12-31	$9.79	$10.00	48.4%	13.9%	28.2%	5.9%	35.5%	1.6%	4.7%	139.8K	-9.5M	-176.4K	0.26	81.54	N/A	N/A	363	93	50,919	8,783