FEZ Options History — March 2022

In March 2022, FEZ traded between $36.11 and $42.65. ATM implied volatility averaged 36.7%, placing in the 51.2% IV rank vs the trailing year. The 30-day expected move averaged 10.8%. IV traded below realized volatility by 10.2% (HV 20d: 46.9%). Max pain ranged from $41.00 to $45.00. Net GEX was positive for 2 of 23 trading days. Term structure was in contango for 1 of 23 days. Put/call ratio averaged 7.21.

Notable Days

2022-03-15: Highest Volume — 228,822 contracts
2022-03-08: Largest IV drop — 34.0% change
2022-03-01: Highest IV Rank — 100.0%
2022-03-07: Largest Expected Move — 19.2%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$40.15	$36.11	$42.65	$39.82	$41.28
Max Pain	$42.91	$41.00	$45.00	$45.00	$43.00
ATM IV	36.7%	23.3%	67.1%	44.0%	29.3%
Expected Move	10.8%	6.7%	19.2%	12.6%	7.8%
HV 20d	46.9%	30.3%	53.0%	30.3%	47.7%
HV 60d	31.1%	22.9%	34.7%	22.9%	34.7%
IV Rank	51.2%	21.6%	100.0%	100.0%	32.3%
IV Percentile	93.7%	82.1%	100.0%	100.0%	89.3%
Term Structure	-3.4%	-7.9%	0.1%	-6.6%	-2.0%
VWIV	39.6%	27.9%	68.9%	52.5%	30.1%
Skew 25d	13.4%	8.3%	20.3%	16.4%	8.3%
Skew 10d	28.2%	15.1%	41.5%	24.9%	15.1%
Call IV 25d	29.7%	20.9%	41.4%	38.7%	24.9%
Put IV 25d	43.1%	29.9%	61.8%	55.1%	33.3%
Bid-Ask Spread %	62.35	20.68	76.35	67.63	73.37
Gamma HHI	0.18	0.13	0.27	0.23	0.18
Net GEX	-11.3M	-42.9M	25.6M	-4.2M	-2.3M
Net DEX	246.4M	19.2M	632.8M	169.4M	74.8M
Net VEX	-1.2M	-1.8M	-480.0K	-480.0K	-1.0M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	7.21	0.18	79.52	2.51	2.95
Total Volume	49,995.696	5,268	228,822	50,687	15,268
Total OI	412,500	104,692	699,800	104,692	316,428

Daily Data (23 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
2022-03-01	$39.82	$45.00	44.0%	12.6%	30.3%	100.0%	52.5%	16.4%	-6.6%	-4.2M	169.4M	-480.0K	2.51	67.63	N/A	N/A	14,443	36,244	32,878	71,814
2022-03-02	$40.81	$45.00	38.0%	10.9%	31.6%	81.6%	50.5%	13.5%	-2.4%	-5.7M	177.8M	-710.6K	2.23	69.57	N/A	N/A	15,714	34,986	45,254	104,334
2022-03-03	$39.48	$45.00	46.8%	13.4%	32.8%	100.0%	49.6%	15.2%	-3.3%	-5.6M	223.3M	-889.8K	79.52	70.17	N/A	N/A	1,838	146,155	59,524	132,353
2022-03-04	$37.28	$45.00	58.5%	16.8%	37.2%	100.0%	50.4%	18.9%	-7.9%	-25.0M	571.8M	-1.2M	0.18	65.85	N/A	N/A	40,742	7,273	59,593	275,549
2022-03-07	$36.11	$41.00	67.1%	19.2%	37.8%	100.0%	68.9%	20.3%	-6.4%	-20.5M	624.4M	-1.1M	8.58	74.09	N/A	N/A	10,461	89,714	96,988	277,690
2022-03-08	$37.29	$41.00	44.3%	16.7%	40.7%	59.2%	62.6%	19.5%	-7.8%	-27.5M	574.1M	-1.3M	1.54	74.74	N/A	N/A	5,910	9,116	107,461	327,953
2022-03-09	$40.10	$41.00	37.9%	14.6%	50.0%	47.8%	53.6%	15.3%	-3.3%	-18.9M	291.6M	-1.4M	4.58	63.32	N/A	N/A	30,575	140,081	118,750	331,339
2022-03-10	$38.65	$41.00	40.8%	15.1%	50.2%	53.0%	56.3%	15.1%	-5.6%	-36.6M	556.6M	-1.8M	3.10	71.78	N/A	N/A	21,811	67,559	137,287	463,608
2022-03-11	$38.40	$41.00	42.5%	16.1%	50.2%	55.9%	38.2%	14.3%	-5.7%	-42.9M	632.8M	-1.8M	0.41	68.15	N/A	N/A	20,982	8,501	160,844	508,061
2022-03-14	$39.19	$43.00	42.1%	10.6%	50.7%	55.2%	34.0%	15.1%	-5.3%	-41.0M	501.0M	-1.7M	3.11	29.92	N/A	N/A	4,142	12,880	160,666	506,589
2022-03-15	$39.54	$43.00	38.5%	9.7%	51.0%	48.7%	33.4%	13.8%	-4.3%	-42.3M	425.1M	-1.6M	36.95	73.01	N/A	N/A	6,030	222,792	161,453	510,682
2022-03-16	$41.25	$43.00	34.2%	8.9%	52.6%	41.2%	31.7%	11.7%	-3.5%	-6.4M	119.5M	-1.4M	0.25	63.44	N/A	N/A	39,109	9,792	163,536	534,386
2022-03-17	$41.51	$43.00	30.9%	8.2%	52.6%	35.3%	31.2%	11.7%	-2.4%	12.9M	52.1M	-1.3M	2.74	63.93	N/A	N/A	13,530	37,050	162,798	537,002
2022-03-18	$41.61	$43.00	28.3%	7.8%	52.4%	30.5%	29.5%	10.7%	-1.2%	25.6M	28.8M	-1.2M	5.65	67.63	N/A	N/A	3,735	21,107	153,107	522,060
2022-03-21	$40.85	$43.00	29.8%	8.0%	52.7%	33.2%	30.6%	12.3%	-2.2%	-3.0M	103.5M	-1.1M	1.97	20.68	N/A	N/A	3,619	7,118	80,866	216,672
2022-03-22	$41.57	$43.00	25.2%	7.2%	52.6%	25.1%	30.4%	11.1%	0.1%	-1.9M	70.1M	-1.1M	1.07	49.39	N/A	N/A	2,678	2,856	80,943	218,659
2022-03-23	$40.66	$43.00	28.8%	7.9%	53.0%	31.5%	30.1%	11.3%	-1.3%	-3.4M	107.1M	-1.1M	0.45	50.89	N/A	N/A	4,143	1,884	81,179	218,886
2022-03-24	$40.92	$43.00	29.6%	7.9%	52.7%	32.9%	30.5%	11.7%	-1.8%	-3.2M	102.9M	-1.1M	4.01	63.89	N/A	N/A	2,620	10,512	81,698	219,030
2022-03-25	$40.95	$43.00	29.3%	7.8%	51.9%	32.4%	31.5%	11.9%	-2.2%	-4.0M	110.5M	-1.1M	1.14	76.35	N/A	N/A	2,958	3,366	81,712	228,094
2022-03-28	$41.26	$43.00	29.1%	7.8%	50.6%	32.1%	29.5%	11.9%	-2.0%	-3.3M	94.1M	-1.1M	1.13	55.19	N/A	N/A	2,469	2,799	82,098	229,492
2022-03-29	$42.65	$43.00	23.3%	6.7%	49.1%	21.6%	28.1%	8.9%	-0.1%	-213.6K	19.2M	-983.9K	0.71	74.63	N/A	N/A	4,687	3,339	82,118	229,966
2022-03-30	$42.18	$43.00	26.7%	7.4%	48.6%	27.7%	27.9%	8.8%	-1.1%	-652.3K	37.1M	-1.1M	0.96	46.36	N/A	N/A	3,730	3,583	84,984	231,116
2022-03-31	$41.28	$43.00	29.3%	7.8%	47.7%	32.3%	30.1%	8.3%	-2.0%	-2.3M	74.8M	-1.0M	2.95	73.37	N/A	N/A	3,867	11,401	84,972	231,456