FXI Options History — November 2025

In November 2025, FXI traded between $38.63 and $40.92. ATM implied volatility averaged 23.8%, placing in the 7.3% IV rank vs the trailing year. The 30-day expected move averaged 7.1%. IV traded above realized volatility by 4.3% (HV 20d: 19.5%). Max pain ranged from $38.00 to $40.00. Net GEX was positive for 16 of 19 trading days. Term structure was in contango for 11 of 19 days. Put/call ratio averaged 1.16.

Notable Days

  • 2025-11-20: Highest Volume — 537,995 contracts
  • 2025-11-19: Largest IV spike — 12.0% change
  • 2025-11-19: Highest IV Rank — 20.4%
  • 2025-11-19: Largest Expected Move — 8.3%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$39.79$38.63$40.92$39.84$39.48
Max Pain$38.32$38.00$40.00$40.00$38.00
ATM IV23.8%20.9%28.8%22.0%21.0%
Expected Move7.1%6.4%8.3%6.5%6.4%
HV 20d19.5%16.5%26.2%26.0%16.5%
HV 60d20.7%20.1%21.5%21.5%20.1%
IV Rank7.3%0.0%20.4%2.4%0.3%
IV Percentile25.9%0.0%69.0%6.0%0.8%
Term Structure1.2%-2.9%11.5%9.2%0.7%
VWIV25.0%22.7%26.7%23.7%23.9%
Skew 25d1.8%-0.1%8.4%0.1%1.9%
Skew 10d3.2%-6.8%9.2%0.7%4.3%
Call IV 25d23.4%20.0%25.4%23.0%20.0%
Put IV 25d25.2%21.9%30.5%23.2%21.9%
Bid-Ask Spread %31.5015.2377.0517.4925.27
Gamma HHI0.110.100.160.100.10
Net GEX47.0M-81.5M145.9M59.5M27.7M
Net DEX-1.55B-3.04B145.7M-1.80B-1.21B
Net VEX-20.4M-21.2M-19.6M-20.5M-20.4M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.160.142.440.531.40
Total Volume136,621.36856,340537,99568,58679,353
Total OI4,785,488.7894,411,0775,195,8154,634,9134,511,084

Daily Data (19 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2025-11-03$39.84$40.0022.0%6.5%26.0%2.4%23.7%0.1%9.2%59.5M-1.80B-20.5M0.5317.4944,74523,8412,338,6242,296,289
2025-11-04$39.41$40.0022.4%6.7%25.9%3.4%23.0%0.5%2.2%35.1M-1.22B-20.4M1.0615.2332,53634,6112,360,4382,316,110
2025-11-05$39.81$40.0022.2%6.5%26.2%3.0%24.2%-0.1%2.6%55.7M-1.71B-19.9M2.4416.6328,45669,3582,364,2392,333,022
2025-11-06$40.25$38.0022.9%7.4%26.1%4.9%26.2%0.5%0.2%88.2M-2.20B-20.9M1.1819.8765,11376,7882,377,6412,358,737
2025-11-07$39.88$38.0022.6%7.1%18.6%4.1%25.2%0.5%2.2%61.8M-1.69B-20.2M2.3345.8542,03298,0212,408,5672,343,212
2025-11-10$40.78$38.0024.7%7.2%18.0%9.7%24.6%3.6%-1.0%127.3M-2.90B-20.2M1.0743.4127,15729,1832,378,3842,387,379
2025-11-11$40.77$38.0024.2%7.1%17.9%8.3%25.2%0.3%-0.2%129.3M-2.82B-19.9M1.2025.7246,36555,5122,390,4992,401,427
2025-11-12$40.92$38.0024.8%7.5%17.6%9.9%25.6%0.2%1.6%145.9M-3.04B-20.3M0.7019.6438,44527,0282,439,7992,405,816
2025-11-13$40.67$38.0024.4%7.2%17.8%8.7%25.8%1.3%0.6%125.8M-2.63B-20.4M0.5632.0960,28933,9502,446,1012,426,211
2025-11-14$40.08$38.0024.9%7.4%18.6%10.0%26.4%0.6%0.7%68.6M-1.92B-20.3M2.1443.5943,70393,5492,459,0262,443,704
2025-11-17$39.66$38.0025.1%7.3%18.3%10.7%25.8%1.4%-1.5%30.3M-1.31B-19.6M1.1536.4182,25194,2522,460,3692,477,260
2025-11-18$39.55$38.0025.7%7.4%17.7%12.3%25.9%2.1%-1.0%19.5M-1.15B-20.1M0.9322.20112,835104,4512,499,2152,518,132
2025-11-19$39.16$38.0028.8%8.3%18.0%20.4%26.7%5.2%11.5%-18.5M-530.1M-21.2M1.5877.0555,92388,1552,543,0792,555,731
2025-11-20$38.63$38.0025.8%7.5%17.1%12.6%25.9%3.1%-2.9%-64.4M145.7M-20.2M0.1444.92470,20467,7912,539,8412,585,496
2025-11-21$38.75$38.0024.7%7.2%17.1%9.7%25.4%2.5%-0.6%-81.5M-59.3M-21.1M0.4223.0881,06933,6542,588,5552,607,260
2025-11-24$39.34$38.0023.1%7.0%17.4%5.3%24.6%0.9%-0.7%19.6M-1.03B-20.6M0.6424.8580,73251,3922,160,1602,250,917
2025-11-25$39.61$38.0022.4%6.9%17.7%3.5%23.4%1.0%-0.4%32.8M-1.33B-21.0M0.7019.3479,76255,6552,178,8932,285,054
2025-11-26$39.41$38.0020.9%6.5%17.7%0.0%22.7%8.4%0.1%30.7M-1.14B-20.5M1.9645.8529,64258,0032,204,5272,283,489
2025-11-28$39.48$38.0021.0%6.4%16.5%0.3%23.9%1.9%0.7%27.7M-1.21B-20.4M1.4025.2733,00546,3482,209,8072,301,277