FEZ Options History — November 2018

In November 2018, FEZ traded between $34.43 and $36.24. ATM implied volatility averaged 18.4%, placing in the 45.3% IV rank vs the trailing year. The 30-day expected move averaged 5.5%. IV traded above realized volatility by 0.4% (HV 20d: 18.0%). Max pain ranged from $36.00 to $38.00. Net GEX was positive for 0 of 21 trading days. Term structure was in contango for 12 of 21 days. Put/call ratio averaged 5.68.

Notable Days

2018-11-02: Highest Volume — 96,806 contracts
2018-11-07: Largest IV drop — 10.7% change
2018-11-20: Highest IV Rank — 58.7%
2018-11-20: Largest Expected Move — 6.1%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$35.29	$34.43	$36.24	$35.57	$35.05
Max Pain	$36.64	$36.00	$38.00	$38.00	$36.50
ATM IV	18.4%	16.1%	21.1%	18.4%	18.9%
Expected Move	5.5%	4.7%	6.1%	5.5%	6.0%
HV 20d	18.0%	16.6%	20.0%	18.8%	16.9%
HV 60d	16.3%	15.9%	17.0%	17.0%	16.5%
IV Rank	45.3%	34.2%	58.7%	49.3%	46.9%
IV Percentile	85.4%	71.0%	96.0%	87.3%	86.9%
Term Structure	0.0%	-1.2%	1.8%	0.0%	-0.9%
VWIV	21.1%	17.9%	29.6%	29.6%	22.9%
Skew 25d	5.0%	3.6%	6.2%	5.0%	5.6%
Skew 10d	11.4%	6.8%	16.3%	9.5%	9.3%
Call IV 25d	16.3%	14.3%	18.7%	16.3%	16.6%
Put IV 25d	21.2%	18.1%	24.8%	21.3%	22.1%
Bid-Ask Spread %	31.53	15.90	50.35	48.00	34.18
Gamma HHI	0.18	0.13	0.25	0.23	0.25
Net GEX	-25.3M	-37.2M	-20.6M	-35.7M	-21.0M
Net DEX	299.3M	244.4M	367.5M	366.0M	283.1M
Net VEX	-1.1M	-1.3M	-1.0M	-1.3M	-1.0M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	5.68	1.86	12.92	2.86	2.43
Total Volume	44,064.429	17,721	96,806	27,368	27,492
Total OI	278,721.857	250,662	343,121	333,181	260,607

Daily Data (21 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
2018-11-01	$35.57	$38.00	18.4%	5.5%	18.8%	49.3%	29.6%	5.0%	0.0%	-35.7M	366.0M	-1.3M	2.86	48.00	N/A	N/A	7,095	20,273	78,500	254,681
2018-11-02	$35.70	$38.00	18.6%	5.6%	18.8%	47.9%	20.6%	4.8%	0.1%	-37.2M	349.8M	-1.3M	12.92	28.77	N/A	N/A	6,952	89,854	80,794	262,327
2018-11-05	$35.74	$36.00	18.4%	5.4%	18.7%	46.5%	18.8%	5.0%	0.2%	-20.6M	260.2M	-1.2M	10.40	23.04	N/A	N/A	6,569	68,346	80,440	191,198
2018-11-06	$35.72	$36.00	18.0%	5.2%	18.7%	44.2%	22.3%	4.9%	0.3%	-24.1M	288.6M	-1.2M	8.26	33.62	N/A	N/A	6,603	54,517	80,398	205,123
2018-11-07	$36.24	$36.00	16.1%	5.0%	18.1%	34.4%	20.5%	3.8%	0.1%	-24.2M	244.4M	-1.2M	7.85	21.99	N/A	N/A	6,738	52,876	80,585	205,998
2018-11-08	$35.71	$36.00	16.5%	4.7%	18.7%	36.7%	19.2%	3.6%	0.3%	-25.3M	290.2M	-1.2M	11.00	49.69	N/A	N/A	5,093	56,034	80,850	205,834
2018-11-09	$35.67	$36.00	16.4%	4.7%	18.7%	34.2%	18.9%	4.4%	0.5%	-25.1M	305.8M	-1.1M	9.77	50.35	N/A	N/A	5,052	49,381	81,288	207,805
2018-11-12	$34.92	$36.00	18.1%	5.4%	20.0%	42.8%	19.2%	4.9%	0.4%	-25.4M	367.5M	-1.1M	10.72	29.57	N/A	N/A	4,803	51,467	81,265	207,671
2018-11-13	$35.15	$37.00	18.1%	5.5%	19.1%	43.2%	17.9%	4.7%	0.9%	-26.0M	338.7M	-1.1M	6.51	32.25	N/A	N/A	8,337	54,306	81,301	206,871
2018-11-14	$35.38	$37.00	18.1%	5.7%	19.1%	42.8%	21.0%	4.9%	1.8%	-25.3M	313.0M	-1.2M	5.83	33.35	N/A	N/A	9,110	53,138	84,622	210,099
2018-11-15	$35.42	$37.00	19.3%	5.9%	17.7%	49.2%	21.6%	6.2%	1.4%	-25.2M	308.6M	-1.2M	5.22	25.83	N/A	N/A	9,161	47,804	85,251	208,532
2018-11-16	$35.43	$37.00	18.8%	5.7%	17.3%	46.6%	19.7%	4.5%	1.8%	-21.3M	304.3M	-1.1M	9.02	26.18	N/A	N/A	6,523	58,860	85,592	209,121
2018-11-19	$35.06	$37.00	19.4%	5.6%	17.5%	49.5%	20.3%	4.6%	-1.1%	-21.7M	263.3M	-1.1M	2.01	32.31	N/A	N/A	6,075	12,186	72,177	178,485
2018-11-20	$34.43	$37.00	21.1%	6.1%	18.5%	58.7%	22.0%	6.1%	-0.8%	-21.2M	318.0M	-1.1M	2.10	26.96	N/A	N/A	5,925	12,452	72,546	179,177
2018-11-21	$34.84	$37.00	19.2%	5.5%	16.8%	48.5%	21.1%	4.9%	-0.7%	-23.7M	286.7M	-1.1M	1.99	35.21	N/A	N/A	5,922	11,799	72,552	179,919
2018-11-23	$34.52	$36.00	19.7%	5.8%	16.6%	51.3%	20.6%	5.2%	-1.2%	-24.0M	312.7M	-1.0M	1.97	24.52	N/A	N/A	6,248	12,287	73,375	180,317
2018-11-26	$35.00	$36.50	18.9%	5.7%	17.2%	47.0%	20.2%	5.2%	-0.4%	-25.1M	279.0M	-1.1M	2.23	20.20	N/A	N/A	6,187	13,785	72,958	180,218
2018-11-27	$34.84	$36.50	18.6%	5.7%	17.0%	45.6%	21.9%	5.6%	-0.4%	-26.9M	301.1M	-1.0M	1.86	15.90	N/A	N/A	7,828	14,538	73,170	182,801
2018-11-28	$35.39	$36.50	17.6%	5.5%	17.5%	40.5%	21.4%	5.1%	-0.8%	-26.1M	250.5M	-1.1M	2.03	32.12	N/A	N/A	7,423	15,053	73,905	185,081
2018-11-29	$35.31	$36.50	18.5%	5.8%	17.2%	45.1%	23.2%	5.3%	-0.7%	-26.9M	254.1M	-1.1M	2.21	38.09	N/A	N/A	6,620	14,641	73,950	185,775
2018-11-30	$35.05	$36.50	18.9%	6.0%	16.9%	46.9%	22.9%	5.6%	-0.9%	-21.0M	283.1M	-1.0M	2.43	34.18	N/A	N/A	8,018	19,474	74,042	186,565