CXM Options History — March 2023

In March 2023, CXM traded between $9.91 and $12.89. ATM implied volatility averaged 62.6%, placing in the 17.5% IV rank vs the trailing year. The 30-day expected move averaged 15.1%. IV traded above realized volatility by 27.7% (HV 20d: 34.9%). Max pain ranged from $10.00 to $10.00. Net GEX was positive for 23 of 23 trading days. Term structure was in contango for 17 of 23 days. Put/call ratio averaged 6.08.

Notable Days

  • 2023-03-30: Highest Volume — 2,932 contracts
  • 2023-03-13: Largest IV spike — 186.5% change
  • 2023-03-13: Highest IV Rank — 100.0%
  • 2023-03-29: Largest Expected Move — 18.1%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$10.80$9.91$12.89$10.66$12.89
Max Pain$10.00$10.00$10.00$10.00$10.00
ATM IV62.6%35.1%203.4%50.5%37.5%
Expected Move15.1%10.8%18.1%14.5%10.8%
HV 20d34.9%21.8%67.5%28.7%67.5%
HV 60d35.6%33.0%45.9%34.7%45.8%
IV Rank17.5%0.0%100.0%8.9%1.4%
IV Percentile20.3%0.0%100.0%4.8%0.4%
Term Structure5.8%-8.2%21.4%7.5%3.7%
VWIV53.9%37.0%65.1%55.1%37.2%
Skew 25d23.2%-15.0%73.9%13.4%6.3%
Skew 10d77.8%-18.4%238.3%29.2%9.8%
Call IV 25d51.7%30.4%67.6%37.3%32.2%
Put IV 25d74.9%38.4%134.9%50.6%38.4%
Bid-Ask Spread %80.8427.79104.8970.2927.79
Gamma HHI0.640.450.880.850.53
Net GEX43.8K4.2K95.9K66.2K75.2K
Net DEX-1.0M-3.8M-171.3K-1.0M-3.7M
Net VEX-8.0K-10.3K-6.2K-7.5K-10.0K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio6.080.0057.000.380.18
Total Volume473.34842,932361,002
Total OI6,902.9574,7318,0806,9568,034

Daily Data (23 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2023-03-01$10.66$10.0050.5%14.5%28.7%8.9%0.0%13.4%7.5%66.2K-1.0M-7.5K0.3870.2926105,8881,068
2023-03-02$11.00$10.0043.8%12.6%25.2%1.9%55.1%2.6%20.3%85.9K-1.3M-7.9K0.1392.94815,9131,065
2023-03-03$11.07$10.0045.4%13.0%22.3%3.6%37.0%20.8%20.9%95.7K-1.4M-8.0K0.0784.34376255,9211,076
2023-03-06$10.96$10.0035.1%15.0%21.9%0.0%0.0%7.6%0.1%38.2K-930.8K-6.8K8.1087.61211706,0691,201
2023-03-07$11.04$10.0049.6%16.1%21.8%14.2%52.6%10.8%-7.5%90.1K-1.3M-8.2K0.1063.75315306,0711,370
2023-03-08$11.07$10.0054.3%15.7%21.8%18.7%0.0%30.7%16.5%95.9K-1.4M-8.6K0.0094.541106,2761,400
2023-03-09$10.73$10.0043.3%16.4%24.8%8.7%47.8%61.4%4.7%44.5K-879.3K-7.6K0.0584.91189106,2841,400
2023-03-10$10.16$10.0071.0%14.4%31.3%37.9%51.9%9.1%18.8%22.2K-420.2K-6.8K20.5086.842416,2781,386
2023-03-13$10.20$10.00203.4%17.6%31.4%100.0%61.5%62.8%15.8%14.0K-624.1K-7.0K0.0099.134606,2781,387
2023-03-14$9.91$10.00156.9%16.2%32.3%72.3%54.5%0.7%-6.7%36.4K-350.3K-6.2K5.31104.89261386,2961,387
2023-03-15$10.04$10.0053.0%15.2%31.7%10.7%53.8%9.2%2.1%49.3K-710.4K-6.9K0.0099.47406,2951,503
2023-03-16$10.29$10.0051.8%14.8%33.4%9.9%50.8%6.6%12.2%55.5K-797.2K-7.0K0.7294.602361696,2951,503
2023-03-17$10.57$10.0051.8%14.8%34.8%9.9%51.2%71.0%0.6%16.2K-722.8K-7.3K7.2795.76221606,4301,650
2023-03-20$10.32$10.0058.4%16.7%34.4%13.9%65.1%1.5%10.7%10.8K-299.7K-7.5K0.0090.4248102,9661,765
2023-03-21$10.84$10.0045.9%13.2%38.9%6.4%53.1%7.6%21.4%21.1K-681.3K-7.7K38.7187.4072713,0921,765
2023-03-22$10.61$10.0058.6%16.8%39.7%14.0%58.3%73.9%4.9%13.6K-413.9K-8.2K0.4887.547433533,0971,971
2023-03-23$10.59$10.0047.1%13.5%38.8%7.1%63.3%-15.0%7.0%4.2K-171.3K-8.5K0.00100.722603,4552,395
2023-03-24$10.63$10.0057.1%16.4%38.8%13.1%56.9%70.9%-2.2%11.7K-291.5K-8.8K57.0078.391573,4642,395
2023-03-27$10.63$10.0062.5%17.9%38.8%16.3%64.8%67.3%-8.2%11.6K-269.3K-9.0K0.0077.961,48723,4652,451
2023-03-28$10.59$10.0058.9%16.9%38.7%14.2%58.6%6.6%-7.7%24.1K-750.3K-9.2K0.4170.922911193,9152,451
2023-03-29$10.88$10.0063.2%18.1%39.3%16.7%61.6%3.6%-2.3%31.1K-1.1M-10.3K0.2648.628542254,1912,563
2023-03-30$12.73$10.0040.9%11.7%67.4%3.4%43.1%3.5%0.5%93.3K-3.8M-9.4K0.1830.572,4754574,8932,750
2023-03-31$12.89$10.0037.5%10.8%67.5%1.4%37.2%6.3%3.7%75.2K-3.7M-10.0K0.1827.798471555,0622,972