FXI Options History — February 2025

In February 2025, FXI traded between $31.74 and $36.44. ATM implied volatility averaged 31.8%, placing in the 28.2% IV rank vs the trailing year. The 30-day expected move averaged 9.1%. IV traded above realized volatility by 7.0% (HV 20d: 24.8%). Max pain ranged from $31.00 to $32.00. Net GEX was positive for 19 of 19 trading days. Term structure was in contango for 6 of 19 days. Put/call ratio averaged 0.50.

Notable Days

2025-02-14: Highest Volume — 474,714 contracts
2025-02-19: Largest IV drop — 5.8% change
2025-02-21: Highest IV Rank — 34.3%
2025-02-21: Largest Expected Move — 9.9%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$34.30	$31.74	$36.44	$31.74	$35.09
Max Pain	$31.11	$31.00	$32.00	$31.00	$32.00
ATM IV	31.8%	29.3%	34.3%	29.6%	32.3%
Expected Move	9.1%	8.0%	9.9%	8.4%	9.6%
HV 20d	24.8%	21.1%	31.2%	22.9%	31.2%
HV 60d	28.5%	26.7%	31.7%	31.7%	29.2%
IV Rank	28.2%	22.4%	34.3%	23.0%	29.4%
IV Percentile	82.8%	71.0%	88.1%	73.0%	83.7%
Term Structure	0.0%	-1.2%	3.2%	-0.8%	0.2%
VWIV	32.9%	29.4%	36.1%	29.7%	34.6%
Skew 25d	-2.5%	-3.7%	0.9%	-3.6%	-0.8%
Skew 10d	-0.6%	-11.0%	8.3%	8.1%	-0.8%
Call IV 25d	34.1%	31.7%	36.9%	32.9%	33.1%
Put IV 25d	31.6%	28.9%	34.7%	29.3%	32.4%
Bid-Ask Spread %	40.48	17.86	62.39	17.86	29.57
Gamma HHI	0.11	0.09	0.13	0.10	0.09
Net GEX	157.5M	79.3M	203.9M	101.1M	79.3M
Net DEX	-3.66B	-6.02B	-1.63B	-1.63B	-3.15B
Net VEX	-15.8M	-16.8M	-14.8M	-14.8M	-16.8M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.50	0.17	1.08	0.49	0.82
Total Volume	224,719.474	126,394	474,714	163,740	210,285
Total OI	4,056,997.947	3,586,610	4,620,125	3,586,610	4,251,100

Daily Data (19 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
2025-02-03	$31.74	$31.00	29.6%	8.4%	22.9%	23.0%	29.7%	-3.6%	-0.8%	101.1M	-1.63B	-14.8M	0.49	17.86	110,063	53,677	2,296,763	1,289,847
2025-02-04	$32.48	$31.00	30.9%	8.7%	23.7%	26.2%	33.2%	-2.7%	-0.1%	127.5M	-2.36B	-15.4M	0.40	19.42	178,602	70,868	2,366,113	1,311,910
2025-02-05	$31.91	$31.00	29.3%	8.0%	24.4%	22.4%	29.4%	-3.1%	0.6%	107.9M	-1.85B	-15.2M	0.36	62.39	101,245	36,488	2,413,904	1,357,575
2025-02-06	$32.27	$31.00	30.0%	8.4%	23.7%	23.8%	30.1%	-2.8%	-0.1%	129.2M	-2.19B	-15.7M	0.38	53.27	105,209	39,928	2,483,592	1,373,182
2025-02-07	$32.75	$31.00	30.3%	8.8%	23.8%	24.8%	31.6%	0.9%	3.2%	144.7M	-2.65B	-15.9M	0.41	61.96	100,743	40,919	2,529,524	1,402,344
2025-02-10	$33.61	$31.00	31.9%	9.1%	21.1%	28.5%	31.8%	-3.7%	-0.2%	161.9M	-3.38B	-15.6M	0.44	30.75	171,180	75,713	2,486,076	1,381,900
2025-02-11	$33.30	$31.00	31.6%	8.7%	22.0%	27.7%	31.5%	-3.2%	-1.2%	164.5M	-3.08B	-15.7M	0.90	53.70	115,433	104,102	2,538,799	1,401,339
2025-02-12	$34.25	$31.00	32.2%	9.1%	22.6%	29.3%	33.1%	-2.6%	-0.6%	185.1M	-4.06B	-16.0M	0.26	50.59	151,857	40,150	2,581,440	1,457,203
2025-02-13	$34.09	$31.00	32.0%	9.0%	22.9%	28.9%	32.9%	-2.7%	-0.6%	184.4M	-3.86B	-15.8M	0.70	51.29	98,971	68,921	2,616,017	1,492,596
2025-02-14	$35.09	$31.00	33.7%	9.6%	24.1%	32.8%	35.0%	-1.4%	2.0%	202.7M	-4.86B	-16.0M	0.17	50.12	404,219	70,495	2,671,888	1,526,287
2025-02-18	$35.22	$31.00	32.8%	9.4%	23.9%	30.6%	34.7%	-3.6%	1.0%	187.2M	-4.90B	-15.4M	0.29	47.91	222,797	65,442	2,700,416	1,546,366
2025-02-19	$35.03	$31.00	30.9%	8.8%	24.2%	26.0%	31.3%	-3.2%	0.4%	195.4M	-4.69B	-15.6M	1.08	45.60	72,473	78,415	2,756,307	1,576,521
2025-02-20	$35.70	$31.00	32.5%	9.3%	23.9%	29.9%	34.7%	-3.7%	-0.0%	203.9M	-5.34B	-15.6M	0.18	45.99	326,185	59,233	2,794,616	1,634,850
2025-02-21	$36.25	$31.00	34.3%	9.9%	23.9%	34.3%	36.1%	-2.9%	-0.4%	176.4M	-6.02B	-15.9M	0.30	51.60	311,972	92,176	2,947,861	1,672,264
2025-02-24	$35.03	$31.00	32.8%	9.6%	27.5%	30.6%	34.1%	-2.2%	-0.8%	137.9M	-3.27B	-16.1M	0.82	21.54	84,448	69,083	2,490,293	1,460,482
2025-02-25	$35.36	$31.00	31.9%	9.3%	27.5%	28.4%	33.0%	-2.3%	-1.1%	150.4M	-3.55B	-16.0M	0.35	21.91	93,377	33,017	2,519,098	1,509,864
2025-02-26	$36.44	$31.00	32.7%	9.5%	28.8%	30.5%	34.1%	-1.9%	-0.8%	177.2M	-4.47B	-15.8M	0.38	21.88	173,838	65,389	2,543,532	1,535,424
2025-02-27	$36.11	$32.00	32.3%	9.5%	29.3%	29.5%	33.6%	-1.6%	-0.4%	175.7M	-4.16B	-16.4M	0.85	31.73	93,559	79,198	2,601,500	1,564,168
2025-02-28	$35.09	$32.00	32.3%	9.6%	31.2%	29.4%	34.6%	-0.8%	0.2%	79.3M	-3.15B	-16.8M	0.82	29.57	115,653	94,632	2,632,040	1,619,060