CXM Options History — December 2023

In December 2023, CXM traded between $11.04 and $16.77. ATM implied volatility averaged 49.3%, placing in the 14.7% IV rank vs the trailing year. The 30-day expected move averaged 12.2%. IV traded below realized volatility by 80.5% (HV 20d: 129.8%). Max pain ranged from $10.00 to $15.00. Net GEX was positive for 19 of 20 trading days. Term structure was in contango for 9 of 20 days. Put/call ratio averaged 0.20.

Notable Days

  • 2023-12-07: Highest Volume — 15,189 contracts
  • 2023-12-11: Largest IV drop — 25.4% change
  • 2023-12-06: Highest IV Rank — 37.7%
  • 2023-12-01: Largest Expected Move — 17.9%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$12.60$11.04$16.77$16.36$12.05
Max Pain$11.13$10.00$15.00$15.00$10.00
ATM IV49.3%32.8%90.8%62.5%34.2%
Expected Move12.2%9.4%17.9%17.9%9.8%
HV 20d129.8%31.6%154.6%36.7%153.3%
HV 60d79.9%30.6%91.8%34.5%91.5%
IV Rank14.7%5.6%37.7%22.0%6.3%
IV Percentile41.8%2.8%97.6%91.3%5.6%
Term Structure-2.1%-21.1%3.1%-21.1%0.9%
VWIV42.7%32.9%64.2%64.2%34.3%
Skew 25d3.6%-5.3%16.4%12.0%0.7%
Skew 10d7.9%-12.3%44.6%44.6%2.6%
Call IV 25d40.8%32.6%54.9%54.9%32.8%
Put IV 25d44.4%30.7%66.9%66.9%33.5%
Bid-Ask Spread %44.2614.4165.6865.6814.78
Gamma HHI0.630.330.850.400.83
Net GEX245.1K-2.3K532.9K101.7K490.0K
Net DEX-3.7M-7.1M1.7M-2.9M-6.2M
Net VEX-17.0K-23.7K-2.7K-7.9K-22.3K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.200.020.550.130.23
Total Volume2,645.9548515,1891,809605
Total OI19,415.54,35626,2724,35625,372

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2023-12-01$16.36$15.0062.5%17.9%36.7%22.0%64.2%12.0%-21.1%101.7K-2.9M-7.9K0.1365.681,5952143,688668
2023-12-04$16.45$12.5072.9%13.1%34.2%27.8%45.1%-1.1%-3.4%101.6K-3.2M-9.3K0.2142.009321934,114878
2023-12-05$16.66$15.0077.7%13.0%32.5%30.4%46.2%2.5%-4.0%122.7K-3.6M-10.4K0.2164.445521154,8371,106
2023-12-06$16.77$15.0090.8%15.1%31.6%37.7%52.8%2.5%-7.6%123.4K-3.9M-11.2K0.2250.583,6318095,1161,194
2023-12-07$11.04$15.0076.7%14.0%154.3%29.9%46.3%3.2%-4.7%-2.3K1.7M-2.7K0.1422.2913,3101,8797,4501,964
2023-12-08$11.23$10.0057.4%14.0%154.6%19.2%46.3%1.9%-5.2%182.7K-1.5M-13.8K0.4457.995,6402,47417,1652,547
2023-12-11$11.14$10.0042.8%13.7%154.3%11.1%44.9%3.0%-5.4%130.8K-1.7M-16.5K0.0214.411,4553220,1544,003
2023-12-12$11.29$10.0049.9%12.3%154.6%15.0%46.7%3.1%-4.9%166.7K-2.3M-17.2K0.0940.307386420,6263,954
2023-12-13$11.43$10.0040.9%11.7%153.4%10.1%41.9%2.3%-1.4%174.5K-2.5M-17.5K0.2162.1562613420,8273,934
2023-12-14$11.34$10.0042.7%12.2%153.3%11.1%43.2%4.3%-2.3%170.4K-2.6M-17.8K0.0351.362,4476721,1693,648
2023-12-15$11.23$10.0042.8%12.3%153.3%11.2%40.9%2.9%2.6%178.7K-2.5M-17.6K0.0743.651,3319822,6813,591
2023-12-18$11.45$10.0041.2%11.8%153.7%10.2%43.0%6.5%0.3%220.0K-3.7M-19.0K0.5541.273,5331,94716,9352,867
2023-12-19$11.77$10.0038.6%11.1%153.7%8.8%40.1%8.6%-0.4%303.8K-4.9M-21.9K0.4041.361,53260818,2753,887
2023-12-20$11.71$10.0037.0%10.6%153.8%7.9%39.1%7.8%2.7%317.7K-4.8M-22.2K0.3042.9790727619,1184,458
2023-12-21$11.98$10.0037.2%10.7%154.2%8.0%36.9%-0.1%2.6%375.2K-5.9M-23.4K0.0451.446703019,3554,724
2023-12-22$11.89$10.0037.9%10.9%154.2%8.4%38.1%-5.3%1.2%361.8K-5.6M-23.7K0.0743.032,27715819,4954,724
2023-12-26$11.93$10.0036.5%10.5%153.5%7.7%36.7%-0.2%1.9%396.3K-5.6M-21.6K0.1632.364947919,7374,734
2023-12-27$12.00$10.0034.2%9.8%153.5%6.4%34.4%16.4%2.9%452.9K-6.0M-22.1K0.1752.484147119,8444,717
2023-12-28$12.21$10.0032.8%9.4%153.8%5.6%32.9%0.7%3.1%532.9K-7.1M-22.5K0.2750.6977620620,0954,659
2023-12-29$12.05$10.0034.2%9.8%153.3%6.3%34.3%0.7%0.9%490.0K-6.2M-22.3K0.2314.7849211320,5484,824