FXI Options History — May 2025

In May 2025, FXI traded between $33.89 and $36.23. ATM implied volatility averaged 27.6%, placing in the 18.2% IV rank vs the trailing year. The 30-day expected move averaged 8.1%. IV traded below realized volatility by 1.2% (HV 20d: 28.9%). Max pain ranged from $33.50 to $34.00. Net GEX was positive for 20 of 21 trading days. Term structure was in contango for 11 of 21 days. Put/call ratio averaged 1.12.

Notable Days

  • 2025-05-09: Highest Volume — 422,462 contracts
  • 2025-05-13: Largest IV drop — 8.2% change
  • 2025-05-06: Highest IV Rank — 27.0%
  • 2025-05-08: Largest Expected Move — 9.2%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$35.45$33.89$36.23$33.89$34.98
Max Pain$33.98$33.50$34.00$33.50$34.00
ATM IV27.6%24.4%31.3%28.5%26.3%
Expected Move8.1%7.4%9.2%8.3%7.8%
HV 20d28.9%19.6%58.1%57.0%21.7%
HV 60d40.3%37.7%41.3%41.1%37.7%
IV Rank18.2%10.5%27.0%20.4%15.1%
IV Percentile50.0%29.4%70.6%57.1%42.1%
Term Structure0.2%-2.8%2.3%-0.8%0.3%
VWIV28.6%25.6%32.0%29.3%27.9%
Skew 25d0.6%-0.8%4.0%0.4%1.7%
Skew 10d0.9%-14.2%17.0%-6.9%-11.3%
Call IV 25d27.7%24.2%32.0%29.1%25.2%
Put IV 25d28.3%25.3%31.5%29.5%26.9%
Bid-Ask Spread %49.0234.5269.9247.1754.82
Gamma HHI0.110.070.160.070.11
Net GEX75.1M-25.3M144.7M48.6M-25.3M
Net DEX-2.00B-3.47B-486.4M-910.7M-486.4M
Net VEX-20.4M-21.8M-18.5M-18.5M-21.8M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.120.103.050.712.32
Total Volume189,859.33391,591422,462125,228260,909
Total OI4,730,5634,276,6475,395,6354,276,6474,910,141

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2025-05-01$33.89$33.5028.5%8.3%57.0%20.4%29.3%0.4%-0.8%48.6M-910.7M-18.5M0.7147.1773,20052,0282,302,3031,974,344
2025-05-02$34.92$34.0030.1%8.8%58.1%24.1%32.0%-0.8%0.1%126.6M-1.99B-18.7M0.5142.64168,68986,1692,324,6632,017,884
2025-05-05$34.95$34.0030.1%8.9%51.4%24.3%31.7%-0.3%1.8%72.1M-1.90B-18.6M0.9046.9263,49157,4452,275,3262,021,755
2025-05-06$35.31$34.0031.3%9.1%39.7%27.0%31.5%-0.5%0.0%86.0M-2.30B-18.7M0.3141.33229,01771,6732,308,1592,035,434
2025-05-07$34.62$34.0030.4%9.0%38.8%25.0%31.4%-0.3%0.3%73.4M-1.57B-19.0M0.1069.92371,31635,4192,372,8052,066,988
2025-05-08$35.02$34.0031.2%9.2%28.8%26.7%31.3%-0.6%-0.1%113.5M-2.28B-20.2M3.0462.1239,964121,5092,667,1452,078,040
2025-05-09$34.86$34.0029.3%8.6%28.4%22.3%30.4%-0.5%-0.2%91.8M-1.97B-20.2M1.9959.77141,263281,1992,687,5732,169,258
2025-05-12$35.98$34.0028.8%8.4%25.3%21.1%30.1%-0.5%0.3%122.1M-3.03B-21.1M0.4955.81169,41982,9222,658,7072,423,287
2025-05-13$35.84$34.0026.5%8.1%24.8%15.5%28.9%1.6%2.3%122.2M-2.88B-21.7M0.4139.2997,58940,1042,711,5342,479,867
2025-05-14$36.20$34.0027.3%8.2%24.4%17.3%29.2%-0.7%1.1%144.7M-3.47B-21.0M0.6745.1796,26264,8872,763,5962,491,553
2025-05-15$35.72$34.0026.8%7.9%22.7%16.3%27.9%-0.4%0.6%130.5M-2.68B-21.0M1.1655.3172,18283,9372,769,0672,565,733
2025-05-16$35.67$34.0025.3%7.6%22.8%12.6%26.3%-0.4%1.1%58.3M-2.54B-20.9M0.9057.5966,60159,8672,772,9632,622,672
2025-05-19$35.80$34.0026.2%7.6%22.4%14.9%26.8%1.8%-0.6%58.5M-1.88B-20.6M1.8839.4051,24596,4282,223,2032,173,724
2025-05-20$36.23$34.0026.3%7.6%19.7%15.0%26.4%1.2%-0.1%63.4M-2.26B-20.8M1.3734.5238,58453,0072,236,5162,263,272
2025-05-21$36.09$34.0026.5%7.6%19.7%15.5%26.3%4.0%2.0%58.4M-2.04B-21.2M1.0841.4445,32248,7952,252,5692,270,204
2025-05-22$35.92$34.0026.3%7.6%19.8%15.0%26.1%0.9%-0.2%56.3M-1.91B-20.8M1.1846.5647,62656,1732,274,7992,316,740
2025-05-23$35.95$34.0026.7%7.6%19.6%16.0%26.2%2.0%-0.0%79.8M-1.89B-21.0M0.2842.36105,50729,6962,304,3862,352,876
2025-05-27$35.61$34.0026.3%7.7%20.1%15.0%26.4%1.4%-1.6%36.2M-1.52B-20.2M0.5446.36110,48659,8252,286,7642,356,470
2025-05-28$35.28$34.0025.3%7.5%20.4%12.6%28.2%1.1%-0.3%19.5M-1.09B-20.8M3.0547.4931,35895,5832,310,2842,409,023
2025-05-29$35.61$34.0024.4%7.4%20.5%10.5%25.6%1.5%-2.8%41.7M-1.38B-21.5M0.6153.40143,33087,0202,343,1612,497,035
2025-05-30$34.98$34.0026.3%7.8%21.7%15.1%27.9%1.7%0.3%-25.3M-486.4M-21.8M2.3254.8278,501182,4082,339,4662,570,675