FXI Options History — January 2023

In January 2023, FXI traded between $29.30 and $33.28. ATM implied volatility averaged 31.8%, placing in the 20.4% IV rank vs the trailing year. The 30-day expected move averaged 9.3%. IV traded below realized volatility by 3.6% (HV 20d: 35.3%). Max pain ranged from $28.00 to $30.00. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 3 of 20 days. Put/call ratio averaged 0.49.

Notable Days

2023-01-04: Highest Volume — 820,186 contracts
2023-01-30: Largest IV spike — 9.5% change
2023-01-04: Highest IV Rank — 44.3%
2023-01-04: Largest Expected Move — 12.1%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$31.83	$29.30	$33.28	$29.30	$31.74
Max Pain	$28.75	$28.00	$30.00	$28.00	$30.00
ATM IV	31.8%	27.6%	38.9%	37.6%	30.6%
Expected Move	9.3%	8.2%	12.1%	11.3%	9.4%
HV 20d	35.3%	28.9%	38.8%	33.3%	31.2%
HV 60d	43.4%	37.8%	47.6%	46.6%	38.6%
IV Rank	20.4%	6.8%	44.3%	40.0%	16.5%
IV Percentile	30.2%	6.7%	72.2%	64.7%	23.8%
Term Structure	-0.3%	-1.3%	0.5%	0.0%	-0.2%
VWIV	32.7%	29.0%	41.8%	40.1%	32.0%
Skew 25d	2.1%	0.9%	3.2%	2.0%	3.2%
Skew 10d	4.3%	1.5%	6.0%	4.1%	6.0%
Call IV 25d	31.1%	26.9%	38.8%	37.6%	29.3%
Put IV 25d	33.2%	29.2%	39.7%	39.6%	32.5%
Bid-Ask Spread %	4.57	2.53	10.26	2.53	3.55
Gamma HHI	0.15	0.12	0.24	0.12	0.15
Net GEX	183.0M	122.1M	303.3M	122.1M	128.2M
Net DEX	-4.40B	-5.69B	-2.68B	-2.68B	-2.88B
Net VEX	-14.7M	-16.5M	-11.3M	-14.9M	-14.1M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.49	0.12	0.87	0.49	0.87
Total Volume	308,423.05	143,572	820,186	143,572	259,738
Total OI	4,834,021.9	4,023,623	5,648,556	4,412,777	4,418,667

Daily Data (20 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
2023-01-03	$29.30	$28.00	37.6%	11.3%	33.3%	40.0%	40.1%	2.0%	0.0%	122.1M	-2.68B	-14.9M	0.49	2.53	96,213	47,359	3,013,154	1,399,623
2023-01-04	$31.04	$28.00	38.9%	12.1%	38.8%	44.3%	41.8%	0.9%	-0.5%	147.3M	-4.32B	-15.1M	0.18	3.12	696,417	123,769	3,019,137	1,429,206
2023-01-05	$31.20	$28.00	38.0%	11.0%	38.6%	40.6%	38.6%	1.3%	-0.3%	157.7M	-4.42B	-15.6M	0.56	3.06	183,425	101,827	3,174,299	1,493,585
2023-01-06	$31.23	$28.00	36.2%	10.4%	37.7%	34.6%	35.8%	1.4%	-0.3%	155.6M	-4.44B	-15.7M	0.32	3.58	406,450	128,086	3,234,145	1,565,600
2023-01-09	$31.27	$28.00	35.7%	10.3%	36.7%	32.9%	35.5%	2.0%	0.3%	175.1M	-4.53B	-16.5M	0.39	10.01	130,937	50,483	3,491,525	1,654,238
2023-01-10	$31.57	$28.00	35.1%	9.9%	36.7%	31.2%	35.5%	2.4%	-0.4%	178.6M	-4.78B	-16.0M	0.59	3.05	135,291	79,677	3,444,899	1,679,525
2023-01-11	$31.91	$28.00	32.8%	9.3%	36.2%	23.7%	32.2%	2.0%	-0.3%	198.4M	-5.21B	-16.0M	0.49	3.30	384,982	189,600	3,536,257	1,727,330
2023-01-12	$31.59	$29.00	30.8%	8.7%	36.3%	17.0%	31.3%	2.1%	-0.3%	192.7M	-4.76B	-16.2M	0.18	3.09	321,407	57,825	3,643,227	1,850,002
2023-01-13	$32.05	$29.00	28.7%	8.2%	36.5%	10.3%	30.9%	1.8%	-0.1%	222.0M	-5.34B	-16.2M	0.76	2.90	128,340	97,416	3,700,116	1,857,644
2023-01-17	$31.43	$29.00	29.5%	8.4%	36.3%	12.9%	29.0%	2.5%	-0.4%	197.5M	-4.56B	-15.6M	0.40	6.88	128,492	51,328	3,760,806	1,881,437
2023-01-18	$31.16	$29.00	29.8%	8.6%	36.7%	14.1%	29.3%	1.7%	-0.2%	173.2M	-4.15B	-15.2M	0.34	7.40	312,210	106,446	3,753,018	1,895,538
2023-01-19	$31.69	$29.00	29.3%	8.4%	36.5%	12.2%	30.2%	1.8%	0.5%	187.0M	-4.58B	-13.9M	0.44	3.37	147,532	65,313	3,532,111	1,906,375
2023-01-20	$32.42	$29.00	29.6%	8.6%	36.1%	13.4%	29.8%	1.9%	-1.3%	303.3M	-5.69B	-12.0M	0.63	3.25	167,479	106,326	3,562,808	1,942,675
2023-01-23	$32.77	$29.00	29.5%	8.6%	35.5%	12.9%	30.3%	2.4%	-0.7%	176.6M	-4.22B	-13.9M	0.27	10.26	256,525	70,206	2,680,595	1,343,028
2023-01-24	$32.77	$29.00	29.0%	8.4%	35.2%	11.3%	31.0%	2.4%	-0.5%	207.5M	-4.44B	-11.3M	0.74	7.37	97,357	71,577	2,741,250	1,327,181
2023-01-25	$32.86	$29.00	28.7%	8.4%	35.0%	10.4%	30.3%	3.0%	-0.6%	190.1M	-4.30B	-13.8M	0.12	4.03	138,476	16,259	2,792,529	1,386,334
2023-01-26	$33.27	$29.00	27.7%	8.2%	32.1%	7.2%	29.0%	2.2%	-0.4%	204.7M	-4.68B	-13.6M	0.50	3.55	159,678	80,335	2,797,738	1,390,501
2023-01-27	$33.28	$29.00	27.6%	8.2%	28.9%	6.8%	29.4%	2.4%	-0.0%	202.6M	-4.72B	-13.8M	0.86	3.78	177,888	153,680	2,846,049	1,441,207
2023-01-30	$32.08	$30.00	30.2%	9.3%	32.2%	15.3%	31.8%	2.7%	-0.1%	140.0M	-3.26B	-14.1M	0.60	3.23	150,857	91,255	2,850,290	1,516,789
2023-01-31	$31.74	$30.00	30.6%	9.4%	31.2%	16.5%	32.0%	3.2%	-0.2%	128.2M	-2.88B	-14.1M	0.87	3.55	138,584	121,154	2,858,570	1,560,097