CXM Options History — September 2025

In September 2025, CXM traded between $7.71 and $8.63. ATM implied volatility averaged 42.2%, placing in the 21.1% IV rank vs the trailing year. The 30-day expected move averaged 12.0%. IV traded below realized volatility by 5.5% (HV 20d: 47.7%). Max pain ranged from $7.50 to $7.50. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 6 of 21 days. Put/call ratio averaged 0.98.

Notable Days

  • 2025-09-02: Highest Volume — 3,427 contracts
  • 2025-09-03: Largest IV drop — 52.0% change
  • 2025-09-02: Highest IV Rank — 53.6%
  • 2025-09-02: Largest Expected Move — 23.0%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$7.86$7.71$8.63$8.63$7.71
Max Pain$7.50$7.50$7.50$7.50$7.50
ATM IV42.2%36.6%80.3%80.3%41.6%
Expected Move12.0%10.5%23.0%23.0%11.9%
HV 20d47.7%42.1%55.6%42.5%42.4%
HV 60d42.1%39.2%44.5%39.2%39.7%
IV Rank21.1%16.4%53.6%53.6%20.6%
IV Percentile51.6%29.0%96.0%96.0%54.8%
Term Structure-1.6%-18.6%1.5%-18.6%-2.4%
VWIV42.1%36.7%80.7%80.7%41.2%
Skew 25d22.7%3.3%60.1%3.3%11.3%
Skew 10d67.1%12.5%213.9%18.2%27.3%
Call IV 25d37.5%31.2%78.9%78.9%41.2%
Put IV 25d60.2%40.6%98.1%82.2%52.5%
Bid-Ask Spread %62.8729.1574.4729.1558.10
Gamma HHI0.360.320.450.450.34
Net GEX19.1K12.7K40.7K40.7K15.1K
Net DEX-799.9K-1.2M-556.7K-1.2M-556.7K
Net VEX-9.7K-11.2K-9.1K-11.2K-9.3K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.980.008.570.740.14
Total Volume412.23873,4273,42748
Total OI10,844.9528,39311,8898,3939,959

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2025-09-02$8.63$7.5080.3%23.0%42.5%53.6%80.7%3.3%-18.6%40.7K-1.2M-11.2K0.7429.151,9751,4526,5171,876
2025-09-03$7.78$7.5038.5%11.0%55.6%18.0%38.5%51.2%0.9%17.9K-673.8K-9.1K0.4231.001,6226848,2372,701
2025-09-04$7.81$7.5041.0%11.7%55.6%20.1%40.7%10.3%-2.4%19.6K-743.1K-9.2K0.1949.655291038,4872,675
2025-09-05$7.75$7.5042.8%11.0%51.4%21.7%38.5%27.5%-0.1%20.1K-691.5K-9.3K0.6269.351621018,6402,623
2025-09-08$7.96$7.5039.8%11.4%50.7%19.1%39.8%17.0%-0.3%22.8K-912.9K-9.7K0.0574.16214108,6132,712
2025-09-09$7.83$7.5041.9%11.1%50.4%20.9%0.0%22.9%-1.1%16.9K-762.6K-9.2K0.4571.87148678,6582,702
2025-09-10$7.71$7.5037.4%10.7%50.5%17.0%37.3%27.8%-0.2%16.0K-704.3K-9.6K0.1472.74271388,8582,767
2025-09-11$7.88$7.5038.8%11.1%50.0%18.3%38.8%19.1%1.5%24.1K-1.0M-10.4K0.0874.47323258,9892,788
2025-09-12$7.76$7.5036.6%10.5%49.6%16.4%36.7%29.9%-1.6%13.8K-727.5K-9.8K6.0071.25168,8752,807
2025-09-15$7.83$7.5039.3%11.3%48.6%18.7%39.0%21.6%-0.2%16.8K-971.6K-9.6K2.0673.3216338,8702,811
2025-09-16$7.75$7.5038.9%11.1%48.5%18.3%38.9%27.7%-0.5%12.7K-831.1K-9.5K8.5772.01302578,8682,844
2025-09-17$7.86$7.5038.4%11.0%48.9%17.9%38.4%4.8%1.0%15.5K-970.4K-9.6K0.0670.874938,8832,891
2025-09-18$7.86$7.5042.2%12.1%48.8%21.1%42.2%25.8%-2.5%17.0K-1.0M-9.9K0.1973.80162308,8912,891
2025-09-19$7.79$7.5039.9%11.4%48.8%19.2%39.9%28.6%-0.0%18.9K-1.0M-9.9K0.1973.7252108,9752,914
2025-09-22$7.87$7.5041.0%11.8%44.7%20.1%41.0%52.3%0.0%19.5K-656.8K-10.0K0.0058.6712407,5672,256
2025-09-23$7.84$7.5042.8%12.3%44.3%21.7%0.0%11.3%-2.1%20.5K-679.5K-9.9K0.0058.852207,6532,256
2025-09-24$7.88$7.5040.0%11.5%44.0%19.3%0.0%8.4%0.2%20.6K-715.6K-9.9K0.0061.83807,6512,256
2025-09-25$7.77$7.5040.3%11.5%42.7%19.5%0.0%10.4%0.1%16.9K-604.3K-9.8K0.7857.18977,6512,256
2025-09-26$7.86$7.5043.4%12.4%42.4%22.2%0.0%60.1%-3.8%18.6K-659.3K-9.8K0.0060.443707,6592,263
2025-09-29$7.88$7.5041.1%11.8%42.1%20.2%41.2%5.3%-2.1%17.9K-687.0K-9.7K0.0057.852907,6912,263
2025-09-30$7.71$7.5041.6%11.9%42.4%20.6%0.0%11.3%-2.4%15.1K-556.7K-9.3K0.1458.104267,6962,263