FXI Options History — March 2025

In March 2025, FXI traded between $34.47 and $38.55. ATM implied volatility averaged 30.9%, placing in the 26.1% IV rank vs the trailing year. The 30-day expected move averaged 9.0%. IV traded below realized volatility by 3.1% (HV 20d: 34.0%). Max pain ranged from $32.00 to $35.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 7 of 21 days. Put/call ratio averaged 1.01.

Notable Days

  • 2025-03-05: Highest Volume — 346,623 contracts
  • 2025-03-20: Largest IV drop — 4.9% change
  • 2025-03-05: Highest IV Rank — 32.9%
  • 2025-03-14: Largest Expected Move — 10.1%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$36.67$34.47$38.55$34.47$35.89
Max Pain$33.52$32.00$35.00$32.00$35.00
ATM IV30.9%27.6%33.7%31.9%28.4%
Expected Move9.0%7.8%10.1%9.6%8.1%
HV 20d34.0%31.3%36.5%31.3%32.0%
HV 60d28.4%26.9%31.1%29.5%28.8%
IV Rank26.1%18.1%32.9%28.6%20.1%
IV Percentile75.3%60.3%87.3%82.5%64.3%
Term Structure-0.4%-2.6%0.4%0.4%-0.4%
VWIV32.2%27.9%37.3%34.4%28.9%
Skew 25d-0.8%-1.8%0.3%-0.4%0.3%
Skew 10d-0.8%-10.6%10.1%-0.8%-4.4%
Call IV 25d32.0%28.5%35.2%32.5%28.5%
Put IV 25d31.2%27.3%33.9%32.1%28.9%
Bid-Ask Spread %41.2726.7253.4926.7242.45
Gamma HHI0.120.090.310.090.09
Net GEX109.0M3.6M267.4M101.0M3.6M
Net DEX-3.65B-5.91B-1.21B-2.57B-1.35B
Net VEX-16.9M-17.7M-16.2M-16.4M-16.9M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.010.272.021.681.20
Total Volume159,773.71458,691346,623143,88591,950
Total OI4,290,746.0483,359,3565,082,3524,149,2383,548,436

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2025-03-03$34.47$32.0031.9%9.6%31.3%28.6%34.4%-0.4%0.4%101.0M-2.57B-16.4M1.6826.7253,60790,2782,540,0881,609,150
2025-03-04$35.17$32.0032.3%9.9%31.5%29.5%35.9%-0.7%-0.6%121.5M-3.22B-16.6M0.6632.6775,28449,3612,577,3751,663,818
2025-03-05$36.89$32.0033.7%10.0%34.5%32.9%35.9%-1.2%-1.3%161.9M-4.64B-16.6M1.0936.57165,825180,7982,582,1061,693,604
2025-03-06$36.89$32.0033.3%9.9%33.4%32.0%35.3%-1.4%-0.6%164.2M-4.60B-17.3M0.3937.89171,54766,6112,647,7691,834,235
2025-03-07$36.95$32.0033.0%9.7%33.4%31.2%34.2%-1.7%-0.2%267.4M-4.64B-17.3M0.8339.6264,31453,3772,670,1821,867,938
2025-03-10$35.84$32.0033.2%10.0%35.8%31.6%36.2%-1.2%-0.5%121.2M-3.55B-17.3M1.0437.20104,637108,8292,613,4551,846,049
2025-03-11$36.50$32.0033.2%10.0%35.2%31.7%37.3%-1.0%-0.2%132.6M-4.05B-17.7M1.1530.8854,15162,1562,655,5931,928,058
2025-03-12$36.34$32.0031.9%9.5%35.0%28.5%34.4%0.0%-0.2%132.7M-3.89B-17.6M1.2133.5550,82361,5202,684,7281,949,932
2025-03-13$36.63$32.0031.6%9.2%33.9%27.7%32.7%-1.0%0.1%140.2M-4.20B-17.2M1.3934.5548,76867,9192,679,7911,987,427
2025-03-14$37.59$32.0031.9%10.1%34.7%28.4%36.3%-0.7%-0.1%153.1M-5.06B-17.0M0.2834.04148,62441,9912,684,3942,038,588
2025-03-17$38.55$34.0033.1%9.0%34.4%31.5%32.1%-1.3%-1.2%168.7M-5.91B-16.4M0.2742.76221,63060,1062,726,5952,029,290
2025-03-18$38.53$35.0032.5%9.0%34.4%29.9%31.9%-1.8%-0.5%170.9M-5.91B-16.3M0.6841.5687,71059,2912,769,8812,052,372
2025-03-19$38.39$35.0030.9%8.6%34.4%26.1%31.1%-1.4%-0.5%167.3M-5.70B-16.2M0.6752.11134,12889,4612,756,4652,106,776
2025-03-20$37.22$35.0029.4%8.2%36.1%22.5%29.9%0.2%-2.6%133.0M-4.66B-16.2M1.3852.9199,018136,4382,791,8172,169,413
2025-03-21$36.53$35.0028.6%8.2%36.5%20.6%28.9%-0.5%-0.6%18.3M-3.84B-16.8M0.7852.5493,04772,1652,808,1612,274,191
2025-03-24$36.66$35.0028.3%8.2%34.1%20.0%28.7%-0.5%0.4%38.3M-2.03B-16.9M1.0044.4029,35929,3321,782,8421,576,514
2025-03-25$36.30$35.0027.6%7.8%34.3%18.1%28.3%-1.3%0.2%28.6M-1.77B-16.9M2.0247.1037,64576,1191,806,3871,599,832
2025-03-26$36.25$35.0027.9%8.0%32.6%19.0%27.9%-0.9%0.3%21.9M-1.70B-16.8M1.3153.4951,05866,7161,829,5391,640,518
2025-03-27$36.77$35.0027.8%8.0%32.8%18.6%28.1%-0.7%0.1%33.4M-2.10B-17.0M0.5747.9958,06333,1171,840,3741,682,493
2025-03-28$35.75$35.0028.0%8.0%32.7%19.2%28.1%-0.7%0.3%8.7M-1.21B-17.4M1.7045.5940,12668,3491,870,4061,689,085
2025-03-31$35.89$35.0028.4%8.1%32.0%20.1%28.9%0.3%-0.4%3.6M-1.35B-16.9M1.2042.4541,73350,2171,847,1651,701,271