FXI Options History — March 2023

In March 2023, FXI traded between $27.29 and $29.91. ATM implied volatility averaged 32.1%, placing in the 22.8% IV rank vs the trailing year. The 30-day expected move averaged 9.3%. IV traded above realized volatility by 3.0% (HV 20d: 29.1%). Max pain ranged from $29.00 to $31.00. Net GEX was positive for 10 of 23 trading days. Term structure was in contango for 5 of 23 days. Put/call ratio averaged 0.54.

Notable Days

2023-03-02: Highest Volume — 297,215 contracts
2023-03-23: Largest IV spike — 6.0% change
2023-03-17: Highest IV Rank — 28.0%
2023-03-03: Largest Expected Move — 10.1%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$28.49	$27.29	$29.91	$29.13	$29.48
Max Pain	$29.91	$29.00	$31.00	$29.00	$30.00
ATM IV	32.1%	30.2%	33.9%	32.6%	30.8%
Expected Move	9.3%	8.5%	10.1%	9.7%	8.9%
HV 20d	29.1%	27.0%	31.8%	31.8%	27.5%
HV 60d	31.3%	27.3%	32.2%	32.0%	27.3%
IV Rank	22.8%	14.2%	28.0%	22.1%	19.7%
IV Percentile	30.5%	16.7%	43.3%	32.5%	22.2%
Term Structure	-0.5%	-1.6%	0.4%	-0.7%	0.2%
VWIV	32.2%	28.8%	35.3%	34.1%	31.3%
Skew 25d	3.7%	2.2%	6.0%	2.5%	2.2%
Skew 10d	6.7%	3.2%	10.2%	3.2%	4.5%
Call IV 25d	30.8%	28.8%	32.3%	32.0%	30.2%
Put IV 25d	34.5%	32.4%	36.7%	34.5%	32.4%
Bid-Ask Spread %	5.61	3.34	8.39	3.34	3.52
Gamma HHI	0.09	0.08	0.13	0.09	0.08
Net GEX	2.0M	-31.9M	41.4M	25.5M	33.0M
Net DEX	25.2M	-1.08B	999.7M	-618.5M	-618.8M
Net VEX	-10.5M	-12.7M	-9.4M	-12.0M	-10.6M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.54	0.09	1.39	0.18	0.22
Total Volume	117,037.043	26,809	297,215	173,371	86,617
Total OI	3,615,899.478	2,606,181	4,447,881	4,047,857	2,890,986

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 Vol	Put Vol	Call OI	Put OI
2023-03-01	$29.13	$29.00	32.6%	9.7%	31.8%	22.1%	34.1%	2.5%	-0.7%	25.5M	-618.5M	-12.0M	0.18	3.34	146,780	26,591	2,400,636	1,647,221
2023-03-02	$29.63	$29.00	33.0%	9.8%	30.7%	23.4%	33.6%	2.5%	-1.0%	41.4M	-1.01B	-12.0M	0.49	3.68	199,009	98,206	2,441,921	1,659,402
2023-03-03	$29.62	$29.00	32.5%	10.1%	29.9%	21.8%	35.3%	2.3%	-0.8%	41.1M	-1.08B	-12.7M	0.32	4.70	99,442	32,011	2,529,043	1,720,563
2023-03-06	$29.30	$31.00	31.0%	9.0%	29.0%	17.0%	30.6%	2.6%	-0.4%	18.8M	-676.5M	-12.0M	0.74	3.82	52,579	38,850	2,539,242	1,715,973
2023-03-07	$28.77	$30.00	30.2%	8.5%	29.2%	14.2%	29.3%	2.6%	-0.5%	-6.0M	-176.5M	-11.5M	0.26	4.60	78,825	20,627	2,545,714	1,738,428
2023-03-08	$28.45	$30.00	30.9%	8.6%	29.1%	16.6%	28.8%	2.8%	-0.2%	-16.8M	142.1M	-11.0M	0.51	4.83	78,252	39,759	2,560,280	1,746,639
2023-03-09	$27.36	$30.00	32.7%	9.4%	31.4%	22.6%	31.8%	2.6%	-0.6%	-31.9M	999.7M	-10.4M	0.49	5.62	81,990	40,197	2,598,042	1,783,363
2023-03-10	$27.37	$30.00	33.6%	9.8%	30.3%	25.5%	33.5%	3.9%	0.1%	-29.6M	988.8M	-10.4M	1.10	8.26	83,814	92,241	2,662,150	1,785,731
2023-03-13	$27.63	$30.00	33.9%	9.5%	29.6%	26.3%	32.2%	4.8%	-0.5%	-21.0M	754.1M	-10.3M	0.32	6.03	55,923	18,087	2,626,732	1,779,838
2023-03-14	$27.63	$30.00	32.5%	9.0%	28.4%	21.7%	31.1%	4.7%	-1.1%	-23.7M	714.5M	-10.0M	0.39	5.79	50,559	19,682	2,644,402	1,763,315
2023-03-15	$27.29	$30.00	33.4%	9.7%	28.4%	24.8%	33.7%	5.0%	0.4%	-26.5M	941.6M	-9.7M	0.69	8.01	91,728	63,030	2,652,267	1,755,159
2023-03-16	$27.70	$30.00	32.6%	9.0%	29.2%	25.6%	31.4%	4.8%	-1.6%	-27.7M	562.6M	-9.8M	1.16	5.74	54,014	62,604	2,659,157	1,716,245
2023-03-17	$27.59	$30.00	32.9%	9.4%	29.1%	28.0%	33.5%	6.0%	-0.5%	-19.1M	674.3M	-9.6M	1.39	5.81	28,932	40,325	2,665,927	1,739,308
2023-03-20	$27.59	$30.00	32.1%	9.2%	28.1%	24.9%	31.8%	4.5%	-0.6%	-13.5M	511.4M	-9.4M	0.44	6.54	18,594	8,215	1,452,381	1,163,047
2023-03-21	$28.02	$30.00	31.3%	9.0%	28.8%	21.6%	30.4%	4.2%	-0.6%	-7.9M	320.7M	-9.6M	0.83	6.73	37,247	31,012	1,453,918	1,152,263
2023-03-22	$28.19	$30.00	30.6%	8.8%	28.8%	19.2%	30.1%	4.4%	-0.2%	-2.4M	198.5M	-9.6M	0.42	8.39	33,214	14,055	1,481,001	1,153,739
2023-03-23	$28.87	$30.00	32.5%	9.4%	30.1%	26.5%	32.3%	4.7%	-1.1%	15.1M	-187.9M	-10.2M	0.25	8.24	122,659	30,787	1,505,084	1,156,828
2023-03-24	$28.84	$30.00	31.6%	9.1%	27.3%	23.1%	33.5%	3.9%	-0.7%	13.3M	-178.3M	-10.2M	0.23	4.87	74,983	17,436	1,529,067	1,174,418
2023-03-27	$28.24	$30.00	32.4%	9.5%	27.9%	26.0%	32.6%	4.3%	-0.5%	-283.0K	168.5M	-9.6M	0.66	5.30	67,905	44,586	1,559,024	1,150,477
2023-03-28	$29.30	$30.00	32.1%	9.5%	30.5%	25.0%	33.6%	2.9%	0.2%	22.6M	-484.1M	-10.3M	0.60	5.50	89,621	53,385	1,548,393	1,172,678
2023-03-29	$29.44	$30.00	32.3%	9.3%	27.1%	25.5%	33.3%	3.4%	-0.8%	22.8M	-520.5M	-10.3M	0.71	4.95	54,983	39,165	1,545,243	1,202,354
2023-03-30	$29.91	$30.00	31.6%	9.2%	27.0%	22.8%	31.8%	2.9%	0.1%	39.2M	-845.5M	-10.6M	0.09	4.80	158,333	14,998	1,576,978	1,221,111
2023-03-31	$29.48	$30.00	30.8%	8.9%	27.5%	19.7%	31.3%	2.2%	0.2%	33.0M	-618.8M	-10.6M	0.22	3.52	71,217	15,400	1,665,817	1,225,169