FPE Options History — March 2025

In March 2025, FPE traded between $17.59 and $17.84. ATM implied volatility averaged 24.3%, placing in the 30.9% IV rank vs the trailing year. The 30-day expected move averaged 5.7%. IV traded above realized volatility by 20.9% (HV 20d: 3.4%). Max pain ranged from $15.00 to $20.00. Net GEX was positive for 15 of 21 trading days. Term structure was in contango for 8 of 21 days. Put/call ratio averaged 0.40.

Notable Days

2025-03-27: Highest Volume — 199 contracts
2025-03-06: Largest IV spike — 164.4% change
2025-03-31: Highest IV Rank — 51.5%
2025-03-11: Largest Expected Move — 8.4%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$17.72	$17.59	$17.84	$17.84	$17.59
Max Pain	$18.76	$15.00	$20.00	$15.00	$20.00
ATM IV	24.3%	8.5%	36.4%	10.9%	36.4%
Expected Move	5.7%	2.4%	8.4%	3.1%	7.7%
HV 20d	3.4%	3.0%	4.0%	3.0%	3.9%
HV 60d	4.2%	3.9%	4.5%	4.4%	4.2%
IV Rank	30.9%	4.2%	51.5%	8.2%	51.5%
IV Percentile	68.8%	5.6%	93.7%	23.8%	93.7%
Term Structure	-6.1%	-31.4%	15.6%	-1.7%	-11.7%
VWIV	14.4%	9.4%	17.2%	9.4%	17.2%
Skew 25d	0.8%	-19.4%	23.2%	-2.4%	-1.1%
Skew 10d	-1.1%	-21.5%	33.9%	-14.0%	20.3%
Call IV 25d	29.0%	15.7%	42.6%	25.0%	30.8%
Put IV 25d	29.8%	13.4%	44.8%	22.6%	29.8%
Bid-Ask Spread %	146.81	136.92	156.29	141.59	146.28
Gamma HHI	0.68	0.32	0.99	0.94	0.88
Net GEX	11.8K	-7.0K	70.4K	379	-6.1K
Net DEX	-28.0K	-179.9K	27.2K	-1.6K	18.5K
Net VEX	-57	-189	-7	-13	-110
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.40	0.00	2.00	2.00	0.02
Total Volume	38.857	0	199	0	180
Total OI	187.238	41	417	103	241

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 Vol	Put Vol	Call OI	Put OI
2025-03-03	$17.84	$15.00	10.9%	3.1%	3.0%	8.2%	0.0%	-2.4%	-1.7%	379	-1.6K	-13	0.00	141.59	0	0	12	91
2025-03-04	$17.77	$15.00	8.5%	2.4%	3.3%	4.2%	9.4%	-1.5%	8.7%	410	-2.5K	-19	2.00	136.92	1	2	12	91
2025-03-05	$17.79	$18.00	9.7%	2.8%	3.2%	6.2%	0.0%	-11.7%	7.7%	-84	-339	-22	0.00	142.63	0	0	13	93
2025-03-06	$17.74	$18.00	25.7%	7.4%	3.2%	33.3%	0.0%	-10.3%	14.9%	-79	-131	-25	0.00	148.27	0	0	13	93
2025-03-07	$17.74	$18.00	23.9%	6.8%	3.2%	30.3%	0.0%	1.9%	0.3%	4	542	-19	0.00	143.23	0	0	13	93
2025-03-10	$17.70	$18.00	14.4%	4.1%	3.2%	14.2%	0.0%	4.3%	15.6%	27	-82	-20	0.00	153.93	0	0	13	93
2025-03-11	$17.70	$18.00	20.2%	8.4%	3.1%	24.1%	0.0%	-0.6%	1.2%	-81	916	-17	0.00	148.58	0	0	13	93
2025-03-12	$17.69	$18.00	25.1%	6.2%	3.1%	32.4%	0.0%	-1.1%	-17.5%	-28	1.3K	-12	0.00	148.23	28	0	13	93
2025-03-13	$17.62	$18.00	27.2%	7.9%	3.3%	35.8%	16.7%	-19.4%	-18.9%	106	322	-19	0.00	140.93	118	0	41	93
2025-03-14	$17.66	$18.00	29.9%	4.7%	3.4%	40.5%	17.2%	-15.0%	-9.0%	22.3K	-61.1K	-122	0.00	142.16	155	0	159	93
2025-03-17	$17.71	$20.00	17.8%	6.2%	3.4%	20.0%	0.0%	-8.0%	12.7%	55.8K	-147.9K	-189	0.00	147.09	0	0	314	93
2025-03-18	$17.70	$20.00	22.5%	7.0%	3.4%	27.9%	0.0%	-5.1%	11.0%	70.4K	-94.0K	-142	0.00	156.29	0	0	314	93
2025-03-19	$17.74	$20.00	29.2%	4.6%	3.5%	39.3%	0.0%	-11.8%	-19.1%	45.0K	-179.9K	-155	0.00	145.32	0	10	314	93
2025-03-20	$17.74	$20.00	31.6%	4.4%	3.5%	43.5%	0.0%	0.0%	-16.9%	64.1K	-141.9K	-112	0.00	154.47	0	0	314	103
2025-03-21	$17.77	$20.00	31.6%	6.8%	3.2%	43.3%	0.0%	0.8%	-7.7%	850	-429	-28	0.02	155.94	120	2	314	103
2025-03-24	$17.80	$20.00	29.3%	6.3%	3.3%	39.5%	0.0%	21.1%	-5.6%	535	-1.9K	-14	0.00	155.02	0	1	41	0
2025-03-25	$17.80	$20.00	35.6%	6.0%	3.2%	50.1%	0.0%	23.2%	-19.1%	591	-2.0K	-14	0.00	151.36	0	0	41	1
2025-03-26	$17.74	$20.00	32.0%	4.7%	3.3%	44.2%	0.0%	20.2%	-29.3%	353	-964	-7	0.00	143.76	0	0	41	1
2025-03-27	$17.63	$20.00	23.7%	7.4%	3.9%	30.0%	0.0%	17.6%	-12.6%	385	-1.8K	-11	0.00	143.72	0	199	41	1
2025-03-28	$17.59	$20.00	24.1%	4.9%	4.0%	30.8%	0.0%	15.0%	-31.4%	-7.0K	27.2K	-128	0.00	137.29	0	0	41	200
2025-03-31	$17.59	$20.00	36.4%	7.7%	3.9%	51.5%	0.0%	-1.1%	-11.7%	-6.1K	18.5K	-110	0.00	146.28	0	180	41	200