FEZ Options History — March 2023

In March 2023, FEZ traded between $41.25 and $44.84. ATM implied volatility averaged 24.6%, placing in the 27.0% IV rank vs the trailing year. The 30-day expected move averaged 6.9%. IV traded above realized volatility by 2.8% (HV 20d: 21.8%). Max pain ranged from $42.00 to $43.00. Net GEX was positive for 0 of 23 trading days. Term structure was in contango for 8 of 23 days. Put/call ratio averaged 227.48.

Notable Days

  • 2023-03-13: Highest Volume — 239,852 contracts
  • 2023-03-15: Largest IV spike — 35.3% change
  • 2023-03-15: Highest IV Rank — 62.6%
  • 2023-03-15: Largest Expected Move — 9.0%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$43.08$41.25$44.84$43.14$44.84
Max Pain$42.83$42.00$43.00$43.00$43.00
ATM IV24.6%20.4%33.1%24.2%20.4%
Expected Move6.9%5.6%9.0%7.0%5.6%
HV 20d21.8%17.2%26.3%18.6%24.3%
HV 60d19.6%18.7%20.5%18.8%19.6%
IV Rank27.0%5.6%62.6%12.6%11.2%
IV Percentile30.1%4.0%86.1%24.2%4.0%
Term Structure-0.3%-1.8%1.0%-0.1%0.5%
VWIV28.1%24.4%33.3%24.4%27.4%
Skew 25d7.7%4.6%10.6%7.9%6.4%
Skew 10d15.3%9.8%20.3%14.9%12.7%
Call IV 25d21.6%17.5%30.8%20.6%17.5%
Put IV 25d29.3%23.8%38.9%28.5%23.8%
Bid-Ask Spread %51.9432.0563.9549.7252.66
Gamma HHI0.200.120.290.290.12
Net GEX-27.4M-60.9M-10.0M-22.0M-10.0M
Net DEX169.3M-42.8M490.8M141.5M-42.8M
Net VEX-1.7M-2.6M-1.1M-1.5M-1.1M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio227.483.623045.7110.736.04
Total Volume40,224.6091,733239,85219,7581,733
Total OI340,278.043246,118506,890246,118301,366

Daily Data (23 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2023-03-01$43.14$43.0024.2%7.0%18.6%12.6%24.4%7.9%-0.1%-22.0M141.5M-1.5M10.7349.72N/AN/A1,68518,07334,339211,779
2023-03-02$43.25$43.0024.0%6.7%17.2%12.1%28.6%7.5%-0.2%-22.8M144.7M-1.6M185.0659.87N/AN/A478,69835,973227,418
2023-03-03$43.92$43.0021.8%6.2%18.1%7.7%25.9%6.6%-0.7%-19.8M90.5M-1.4M28.8363.95N/AN/A1865,36335,998226,806
2023-03-06$44.02$43.0021.2%6.0%17.7%6.4%25.4%6.5%0.5%-19.3M81.2M-1.4M14.9136.35N/AN/A3485,18935,565225,790
2023-03-07$43.19$43.0022.5%6.4%18.5%9.1%27.1%6.6%0.4%-24.7M135.7M-1.5M3045.7150.19N/AN/A77234,52035,847227,689
2023-03-08$43.36$43.0020.8%6.2%18.4%5.6%27.1%6.5%0.0%-51.8M300.5M-2.3M14.0363.51N/AN/A94413,24535,882459,634
2023-03-09$42.89$43.0023.9%6.6%18.6%22.4%25.8%4.6%-1.8%-55.9M361.6M-2.4M5.1156.43N/AN/A8174,17736,012470,878
2023-03-10$42.56$43.0027.2%7.1%18.6%37.6%29.5%8.0%-0.5%-54.8M420.3M-2.5M19.2754.98N/AN/A3817,34036,609469,980
2023-03-13$42.16$43.0027.8%7.6%18.6%40.0%30.0%8.1%-1.5%-60.9M490.8M-2.6M1435.2454.27N/AN/A167239,68536,811469,378
2023-03-14$42.80$43.0024.4%6.6%18.7%26.2%29.7%6.9%-0.8%-36.2M227.1M-1.7M44.9863.00N/AN/A61427,61936,821302,058
2023-03-15$41.25$43.0033.1%9.0%22.4%62.6%32.6%10.6%-1.7%-37.1M402.0M-2.0M6.9753.46N/AN/A17,247120,17636,704306,884
2023-03-16$42.16$42.0026.5%7.3%24.1%40.7%27.9%8.6%-1.1%-31.7M216.0M-1.7M19.3549.19N/AN/A3,00758,18053,486346,124
2023-03-17$41.59$42.0029.2%8.0%24.4%54.0%33.3%9.6%-1.5%-23.0M245.9M-1.6M5.1456.52N/AN/A3,52218,09455,428299,228
2023-03-20$42.27$42.0025.9%7.4%25.3%38.2%29.7%8.6%-0.3%-27.2M186.1M-1.7M5.1847.88N/AN/A6,95436,04343,564297,035
2023-03-21$43.22$42.0024.9%7.1%26.3%33.0%24.4%8.4%-0.0%-16.4M77.1M-1.4M3.6246.78N/AN/A3,90014,13244,181254,951
2023-03-22$43.30$43.0023.3%6.7%26.2%25.2%26.4%8.0%-0.0%-16.4M61.2M-1.4M12.6857.12N/AN/A6057,67347,686266,480
2023-03-23$43.16$43.0026.5%7.6%25.9%40.8%29.2%9.6%-0.4%-18.9M108.9M-1.5M18.8632.05N/AN/A3817,18447,594272,659
2023-03-24$42.73$43.0026.7%7.7%24.2%42.0%31.7%9.2%-0.5%-20.2M119.3M-1.5M5.4449.12N/AN/A1,4637,96047,451270,524
2023-03-27$43.14$43.0024.3%7.1%23.5%30.5%29.1%8.3%0.7%-18.8M84.5M-1.4M309.2455.44N/AN/A6821,02849,176246,279
2023-03-28$43.19$43.0024.0%6.9%23.4%28.6%29.4%7.8%0.5%-18.4M67.8M-1.3M10.9039.11N/AN/A1,12512,26749,234244,660
2023-03-29$44.03$43.0021.5%6.2%24.3%16.8%25.4%7.1%1.0%-13.5M6.2M-1.2M12.3241.68N/AN/A5186,38450,192246,013
2023-03-30$44.72$43.0021.8%6.2%24.9%17.9%25.3%6.5%0.6%-10.4M-33.0M-1.1M12.3361.40N/AN/A4765,87150,175248,054
2023-03-31$44.84$43.0020.4%5.6%24.3%11.2%27.4%6.4%0.5%-10.0M-42.8M-1.1M6.0452.66N/AN/A2461,48750,173251,193