FXI Options History — July 2025

In July 2025, FXI traded between $36.19 and $39.05. ATM implied volatility averaged 24.2%, placing in the 9.9% IV rank vs the trailing year. The 30-day expected move averaged 6.9%. IV traded above realized volatility by 7.3% (HV 20d: 16.9%). Max pain ranged from $36.00 to $37.00. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 11 of 22 days. Put/call ratio averaged 0.66.

Notable Days

2025-07-21: Highest Volume — 326,044 contracts
2025-07-02: Largest IV spike — 25.4% change
2025-07-02: Highest IV Rank — 20.9%
2025-07-21: Largest Expected Move — 7.3%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$37.50	$36.19	$39.05	$36.86	$37.45
Max Pain	$36.23	$36.00	$37.00	$36.00	$37.00
ATM IV	24.2%	22.7%	28.7%	22.9%	23.3%
Expected Move	6.9%	6.2%	7.3%	6.3%	6.6%
HV 20d	16.9%	14.1%	18.5%	18.4%	15.5%
HV 60d	21.1%	17.5%	36.3%	36.3%	17.6%
IV Rank	9.9%	6.3%	20.9%	6.9%	7.8%
IV Percentile	23.8%	12.3%	55.6%	13.1%	17.1%
Term Structure	-0.5%	-11.3%	0.5%	0.5%	-0.1%
VWIV	24.6%	21.8%	26.4%	22.2%	23.8%
Skew 25d	-0.6%	-1.3%	0.1%	-0.2%	-0.2%
Skew 10d	-0.5%	-5.8%	1.8%	1.8%	0.4%
Call IV 25d	25.1%	23.3%	27.0%	24.0%	24.3%
Put IV 25d	24.4%	22.9%	25.8%	23.8%	24.1%
Bid-Ask Spread %	32.56	4.56	58.67	48.68	4.69
Gamma HHI	0.13	0.08	0.33	0.13	0.11
Net GEX	84.8M	25.2M	207.2M	58.5M	64.8M
Net DEX	-2.04B	-3.35B	-733.3M	-1.42B	-1.80B
Net VEX	-20.1M	-21.0M	-19.2M	-19.2M	-20.7M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.66	0.07	2.07	2.07	1.03
Total Volume	123,747.545	29,351	326,044	79,441	95,442
Total OI	4,093,254.955	3,713,490	4,359,201	3,713,490	4,359,201

Daily Data (22 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
2025-07-01	$36.86	$36.00	22.9%	6.3%	18.4%	6.9%	22.2%	-0.2%	0.5%	58.5M	-1.42B	-19.2M	2.07	48.68	25,902	53,539	1,690,768	2,022,722
2025-07-02	$36.66	$36.00	28.7%	6.2%	18.2%	20.9%	21.8%	-0.1%	-11.3%	52.1M	-1.23B	-19.3M	0.64	58.67	147,563	93,846	1,700,343	2,043,986
2025-07-03	$36.25	$36.00	23.0%	6.6%	17.7%	7.2%	23.6%	0.1%	0.2%	25.2M	-813.1M	-20.1M	0.24	48.21	23,603	5,748	1,729,113	2,103,734
2025-07-07	$36.31	$36.00	23.4%	6.8%	17.6%	8.1%	24.4%	-0.0%	0.3%	32.3M	-866.9M	-19.4M	0.77	52.70	41,282	31,784	1,726,962	2,105,449
2025-07-08	$36.69	$36.00	22.8%	6.6%	18.0%	6.7%	23.4%	-0.1%	0.4%	52.9M	-1.27B	-19.3M	0.53	52.33	64,253	34,259	1,751,683	2,126,817
2025-07-09	$36.19	$36.00	22.7%	6.5%	17.9%	6.3%	23.0%	-0.5%	-0.1%	30.5M	-733.3M	-19.7M	0.61	53.14	138,649	84,058	1,781,476	2,145,643
2025-07-10	$36.50	$36.00	22.9%	6.7%	18.1%	7.0%	24.0%	-0.9%	0.3%	47.4M	-1.13B	-20.6M	0.74	45.21	30,688	22,627	1,875,539	2,208,914
2025-07-11	$36.48	$36.00	22.8%	6.6%	18.0%	6.5%	23.7%	-0.8%	0.4%	57.0M	-1.14B	-20.2M	0.84	53.16	48,623	40,899	1,888,278	2,215,330
2025-07-14	$36.86	$36.00	23.4%	6.7%	18.4%	8.2%	24.2%	-0.0%	0.1%	81.2M	-1.54B	-19.8M	0.33	48.87	79,496	26,540	1,893,956	2,239,231
2025-07-15	$37.64	$36.00	25.3%	7.3%	18.4%	12.6%	26.2%	-0.9%	-0.4%	103.4M	-2.47B	-19.6M	0.59	50.80	110,958	65,342	1,933,992	2,252,033
2025-07-16	$37.47	$36.00	24.8%	7.1%	18.5%	11.4%	25.3%	-0.8%	-0.0%	103.0M	-2.27B	-20.3M	1.67	53.83	33,474	55,901	1,979,009	2,289,634
2025-07-17	$37.55	$36.00	24.4%	7.0%	18.0%	10.4%	26.3%	-0.7%	0.1%	118.7M	-2.42B	-19.8M	0.37	6.33	38,740	14,190	1,994,607	2,317,697
2025-07-18	$38.05	$36.00	24.8%	7.1%	17.4%	11.4%	25.2%	-1.0%	-0.2%	207.2M	-3.02B	-19.3M	0.48	44.81	189,876	91,482	2,000,878	2,330,559
2025-07-21	$38.22	$36.00	25.3%	7.3%	17.0%	12.6%	25.9%	-1.3%	0.4%	60.5M	-2.30B	-19.7M	0.07	4.58	304,834	21,210	1,703,810	2,084,326
2025-07-22	$38.70	$36.00	25.3%	7.3%	16.9%	12.7%	25.8%	-0.7%	-0.0%	101.7M	-3.00B	-20.6M	0.33	6.20	133,340	43,971	1,967,840	2,102,528
2025-07-23	$39.05	$36.00	25.1%	7.2%	14.1%	12.2%	26.1%	-1.0%	-0.0%	121.8M	-3.33B	-21.0M	0.49	8.01	75,364	37,240	2,032,859	2,124,004
2025-07-24	$38.94	$36.50	25.0%	7.2%	14.2%	12.0%	26.0%	-1.1%	0.0%	122.9M	-3.35B	-21.0M	0.66	4.58	26,771	17,693	2,087,531	2,144,686
2025-07-25	$38.64	$36.50	24.4%	7.0%	14.7%	10.4%	26.4%	-1.0%	0.1%	115.3M	-3.13B	-20.4M	0.15	6.69	91,213	13,539	2,089,721	2,135,659
2025-07-28	$38.45	$37.00	24.4%	7.0%	14.3%	10.4%	25.3%	-0.9%	-0.5%	114.6M	-2.79B	-20.8M	1.30	5.14	23,158	30,026	2,120,280	2,129,870
2025-07-29	$38.23	$37.00	23.7%	6.9%	14.5%	8.8%	24.5%	-1.1%	-0.0%	106.4M	-2.63B	-20.6M	0.23	4.56	65,347	14,908	2,130,312	2,167,399
2025-07-30	$37.77	$37.00	23.1%	6.7%	15.3%	7.4%	24.4%	-0.3%	-0.2%	87.8M	-2.15B	-20.4M	0.43	55.06	94,543	40,525	2,145,609	2,177,621
2025-07-31	$37.45	$37.00	23.3%	6.6%	15.5%	7.8%	23.8%	-0.2%	-0.1%	64.8M	-1.80B	-20.7M	1.03	4.69	47,101	48,341	2,170,513	2,188,688