FEZ Options History — October 2025

In October 2025, FEZ traded between $61.20 and $63.55. ATM implied volatility averaged 17.4%, placing in the 22.6% IV rank vs the trailing year. The 30-day expected move averaged 4.6%. IV traded above realized volatility by 5.1% (HV 20d: 12.3%). Max pain ranged from $60.00 to $61.00. Net GEX was positive for 20 of 23 trading days. Term structure was in contango for 12 of 23 days. Put/call ratio averaged 2.95.

Notable Days

2025-10-13: Highest Volume — 3,796 contracts
2025-10-09: Largest IV spike — 53.6% change
2025-10-13: Highest IV Rank — 50.1%
2025-10-16: Largest Expected Move — 5.4%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$62.76	$61.20	$63.55	$62.92	$62.52
Max Pain	$60.04	$60.00	$61.00	$60.00	$60.00
ATM IV	17.4%	10.3%	26.0%	14.6%	21.9%
Expected Move	4.6%	4.0%	5.4%	4.2%	4.3%
HV 20d	12.3%	10.5%	13.5%	10.5%	12.1%
HV 60d	13.4%	12.1%	14.4%	14.2%	12.1%
IV Rank	22.6%	0.0%	50.1%	9.7%	37.1%
IV Percentile	39.4%	0.0%	92.9%	9.5%	79.4%
Term Structure	-0.2%	-9.8%	9.1%	-0.2%	-1.3%
VWIV	17.0%	13.9%	21.3%	13.9%	14.3%
Skew 25d	3.7%	-0.1%	12.3%	-0.1%	0.5%
Skew 10d	6.5%	-6.1%	17.4%	4.9%	14.2%
Call IV 25d	16.1%	9.7%	25.9%	11.6%	23.2%
Put IV 25d	19.8%	11.5%	35.8%	11.5%	23.8%
Bid-Ask Spread %	30.88	23.64	45.55	43.93	32.54
Gamma HHI	0.22	0.10	0.42	0.26	0.10
Net GEX	3.0M	-364.4K	11.4M	2.9M	-364.4K
Net DEX	-61.0M	-94.7M	-14.5M	-80.7M	-40.8M
Net VEX	-606.7K	-714.6K	-513.5K	-636.1K	-560.2K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	2.95	0.15	37.27	0.97	1.50
Total Volume	1,057.348	215	3,796	2,165	1,141
Total OI	85,042.565	73,049	94,669	93,642	75,595

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
2025-10-01	$62.92	$60.00	14.6%	4.2%	10.5%	9.7%	13.9%	-0.1%	-0.2%	2.9M	-80.7M	-636.1K	0.97	43.93	N/A	N/A	1,097	1,068	30,596	63,046
2025-10-02	$63.41	$60.00	10.3%	4.2%	10.6%	0.0%	15.6%	1.4%	3.5%	2.9M	-94.7M	-612.7K	0.29	33.14	N/A	N/A	688	197	31,192	63,185
2025-10-03	$63.45	$61.00	14.7%	4.0%	10.6%	14.3%	14.9%	1.4%	2.4%	3.0M	-92.1M	-645.8K	0.19	40.36	N/A	N/A	689	129	31,358	63,311
2025-10-06	$63.14	$60.00	13.5%	4.8%	10.7%	10.5%	16.4%	4.6%	1.0%	3.4M	-83.7M	-648.0K	0.88	28.85	N/A	N/A	218	192	31,485	59,824
2025-10-07	$62.41	$60.00	16.8%	5.0%	11.8%	20.7%	17.5%	-0.0%	4.7%	3.2M	-61.8M	-682.5K	1.12	31.74	N/A	N/A	317	356	31,510	59,988
2025-10-08	$62.77	$60.00	10.6%	4.8%	11.5%	1.0%	17.6%	9.3%	7.2%	4.1M	-73.0M	-661.4K	2.60	30.10	N/A	N/A	141	366	31,539	60,441
2025-10-09	$62.17	$60.00	16.2%	4.8%	11.8%	19.1%	20.3%	7.9%	3.4%	4.6M	-55.3M	-674.0K	1.17	32.51	N/A	N/A	349	410	31,636	60,825
2025-10-10	$61.20	$60.00	22.6%	5.3%	13.3%	39.3%	17.0%	1.9%	-9.8%	-325.8K	-14.5M	-714.6K	0.63	27.42	N/A	N/A	1,929	1,220	31,708	60,944
2025-10-13	$61.64	$60.00	26.0%	5.0%	13.0%	50.1%	21.3%	3.6%	-6.1%	5.4M	-39.6M	-661.2K	0.17	28.65	N/A	N/A	3,246	550	32,213	61,086
2025-10-14	$61.93	$60.00	21.8%	5.1%	13.1%	36.6%	19.3%	12.3%	-8.7%	7.4M	-54.2M	-627.2K	1.61	23.90	N/A	N/A	401	644	32,120	61,379
2025-10-15	$62.15	$60.00	20.4%	5.1%	13.0%	32.4%	17.3%	1.0%	-3.7%	11.4M	-59.2M	-650.2K	2.38	30.34	N/A	N/A	144	343	31,961	61,223
2025-10-16	$62.83	$60.00	24.4%	5.4%	12.9%	45.1%	19.5%	7.3%	-9.8%	9.9M	-81.2M	-623.9K	0.67	28.55	N/A	N/A	898	601	32,042	61,450
2025-10-17	$62.91	$60.00	17.9%	4.9%	12.9%	24.4%	20.4%	5.5%	3.3%	7.8M	-91.5M	-598.5K	0.36	29.86	N/A	N/A	1,635	593	32,162	61,960
2025-10-20	$63.38	$60.00	15.5%	4.7%	13.0%	16.8%	14.1%	5.0%	-4.3%	53.5K	-51.2M	-581.4K	0.39	34.83	N/A	N/A	1,351	521	23,295	49,754
2025-10-21	$62.97	$60.00	15.6%	4.5%	13.3%	17.0%	17.3%	4.2%	6.9%	431.6K	-51.9M	-558.0K	7.91	23.64	N/A	N/A	43	340	24,317	49,917
2025-10-22	$62.52	$60.00	16.1%	4.6%	13.5%	18.7%	16.5%	5.0%	0.1%	-249.4K	-41.3M	-585.8K	4.25	26.33	N/A	N/A	79	336	24,351	50,212
2025-10-23	$63.02	$60.00	16.8%	4.4%	13.2%	20.7%	16.6%	4.6%	5.6%	395.3K	-52.8M	-554.1K	0.43	25.55	N/A	N/A	150	65	24,394	50,237
2025-10-24	$62.98	$60.00	14.5%	4.2%	12.7%	13.4%	15.7%	4.4%	0.4%	177.8K	-48.5M	-573.4K	2.30	24.27	N/A	N/A	105	242	24,395	50,292
2025-10-27	$63.55	$60.00	12.9%	4.2%	12.9%	8.3%	17.1%	2.2%	9.1%	621.3K	-62.1M	-524.1K	0.15	26.34	N/A	N/A	315	48	24,144	50,218
2025-10-28	$63.55	$60.00	15.1%	4.2%	12.8%	15.3%	16.3%	1.3%	-7.0%	1.1M	-64.6M	-513.5K	0.20	28.34	N/A	N/A	272	55	24,422	50,246
2025-10-29	$63.27	$60.00	20.5%	4.4%	12.1%	32.6%	15.8%	0.8%	-0.6%	586.8K	-56.3M	-550.0K	0.50	45.55	N/A	N/A	174	87	24,638	50,295
2025-10-30	$62.86	$60.00	21.8%	4.2%	12.0%	36.7%	16.5%	0.3%	-0.5%	511.9K	-53.1M	-518.7K	37.27	33.58	N/A	N/A	15	559	24,735	50,338
2025-10-31	$62.52	$60.00	21.9%	4.3%	12.1%	37.1%	14.3%	0.5%	-1.3%	-364.4K	-40.8M	-560.2K	1.50	32.54	N/A	N/A	457	684	24,733	50,862