FXI Options History — January 2026

In January 2026, FXI traded between $38.86 and $40.72. ATM implied volatility averaged 22.7%, placing in the 11.6% IV rank vs the trailing year. The 30-day expected move averaged 6.4%. IV traded above realized volatility by 0.1% (HV 20d: 22.6%). Max pain ranged from $39.00 to $39.50. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 15 of 20 days. Put/call ratio averaged 1.12.

Notable Days

2026-01-22: Highest Volume — 464,265 contracts
2026-01-12: Largest IV spike — 6.1% change
2026-01-30: Highest IV Rank — 15.7%
2026-01-12: Largest Expected Move — 6.8%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$39.75	$38.86	$40.72	$39.78	$39.64
Max Pain	$39.10	$39.00	$39.50	$39.00	$39.50
ATM IV	22.7%	20.4%	24.4%	20.4%	24.4%
Expected Move	6.4%	5.8%	6.8%	5.8%	6.7%
HV 20d	22.6%	19.9%	25.1%	21.2%	25.1%
HV 60d	19.0%	17.6%	21.1%	21.1%	19.3%
IV Rank	11.6%	6.1%	15.7%	6.1%	15.7%
IV Percentile	27.1%	8.3%	49.6%	8.3%	49.6%
Term Structure	0.4%	-2.2%	2.8%	0.2%	0.0%
VWIV	22.9%	21.3%	24.6%	21.3%	24.6%
Skew 25d	0.8%	-0.5%	2.2%	-0.0%	1.9%
Skew 10d	2.5%	-15.0%	20.9%	7.8%	2.0%
Call IV 25d	23.3%	21.2%	25.4%	21.2%	25.4%
Put IV 25d	24.1%	21.2%	27.3%	21.2%	27.3%
Bid-Ask Spread %	30.43	12.72	90.88	12.72	17.12
Gamma HHI	0.10	0.09	0.11	0.11	0.09
Net GEX	78.5M	38.9M	138.0M	67.9M	75.5M
Net DEX	-936.2M	-2.06B	-168.4M	-817.0M	-566.8M
Net VEX	-23.3M	-26.8M	-20.5M	-20.7M	-26.8M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	1.12	0.23	5.16	0.58	0.89
Total Volume	179,315.35	66,136	464,265	170,755	66,136
Total OI	4,005,086.45	3,326,655	4,432,480	3,629,417	4,432,480

Daily Data (20 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
2026-01-02	$39.78	$39.00	20.4%	5.8%	21.2%	6.1%	21.3%	-0.0%	0.2%	67.9M	-817.0M	-20.7M	0.58	12.72	108,229	62,526	1,703,111	1,926,306
2026-01-05	$39.89	$39.00	21.3%	6.2%	21.2%	8.2%	22.1%	0.8%	-0.3%	65.9M	-901.8M	-20.5M	0.56	54.70	63,237	35,128	1,726,819	1,939,399
2026-01-06	$39.94	$39.00	20.9%	6.4%	20.6%	7.3%	22.4%	0.7%	1.7%	75.0M	-1.09B	-20.8M	1.10	30.00	65,056	71,655	1,757,191	1,958,317
2026-01-07	$39.28	$39.00	21.6%	6.4%	21.1%	9.0%	23.4%	0.3%	0.8%	48.5M	-377.8M	-20.9M	0.49	30.73	100,909	49,632	1,790,178	1,980,535
2026-01-08	$39.38	$39.00	22.0%	6.4%	20.2%	9.9%	23.6%	1.2%	0.0%	54.7M	-440.6M	-21.3M	0.75	18.05	48,826	36,790	1,868,910	2,004,912
2026-01-09	$39.31	$39.00	21.8%	6.4%	19.9%	9.5%	22.4%	-0.2%	1.2%	56.5M	-415.5M	-21.3M	0.65	27.67	167,109	109,076	1,880,007	2,015,380
2026-01-12	$40.64	$39.00	23.2%	6.8%	23.2%	12.7%	23.9%	0.8%	0.1%	128.5M	-2.06B	-22.5M	0.23	18.34	210,665	49,282	2,001,583	2,101,454
2026-01-13	$40.17	$39.00	22.6%	6.4%	23.5%	11.4%	22.7%	-0.1%	-0.8%	134.0M	-1.67B	-22.8M	0.49	17.05	121,345	59,317	2,111,277	2,112,439
2026-01-14	$39.97	$39.00	23.8%	6.6%	23.5%	14.2%	23.8%	1.1%	-0.7%	129.3M	-1.47B	-23.1M	0.68	65.32	107,023	72,857	2,165,894	2,132,767
2026-01-15	$40.02	$39.00	24.0%	6.5%	21.8%	14.8%	23.3%	0.3%	-2.2%	138.0M	-1.48B	-23.2M	1.04	17.36	83,637	86,694	2,201,248	2,164,340
2026-01-16	$39.28	$39.00	23.5%	6.5%	23.0%	13.5%	23.1%	-0.5%	-1.2%	48.0M	-647.4M	-23.2M	0.48	16.20	122,979	58,869	2,252,982	2,176,987
2026-01-20	$38.86	$39.00	23.1%	6.6%	23.2%	12.5%	23.0%	2.2%	1.3%	38.9M	-168.4M	-23.1M	1.17	80.05	59,819	70,260	1,754,234	1,572,421
2026-01-21	$39.41	$39.00	22.6%	6.5%	23.5%	11.4%	23.2%	0.7%	2.8%	62.3M	-555.9M	-23.7M	5.16	29.78	47,303	244,191	1,799,074	1,625,812
2026-01-22	$39.48	$39.00	22.5%	6.4%	23.5%	11.2%	23.1%	1.3%	1.3%	63.8M	-655.9M	-24.1M	3.62	16.53	100,532	363,733	1,829,079	1,860,921
2026-01-23	$39.44	$39.00	22.4%	6.2%	23.4%	10.9%	22.0%	0.3%	1.6%	55.3M	-530.6M	-24.9M	0.79	16.78	98,274	78,086	1,888,461	2,222,781
2026-01-26	$39.47	$39.00	23.4%	6.3%	23.4%	13.4%	21.9%	1.0%	0.3%	53.5M	-554.2M	-25.1M	2.11	13.83	79,282	167,079	1,909,070	2,254,899
2026-01-27	$39.89	$39.50	22.8%	6.1%	23.5%	11.9%	21.4%	0.2%	0.6%	73.4M	-947.2M	-25.5M	0.82	16.14	72,816	59,402	1,936,820	2,325,923
2026-01-28	$40.53	$39.50	23.8%	6.7%	23.3%	14.2%	23.9%	1.6%	0.8%	95.6M	-1.56B	-26.1M	0.28	90.88	64,694	17,831	1,965,563	2,366,464
2026-01-29	$40.72	$39.50	23.8%	6.5%	23.3%	14.3%	23.5%	1.4%	0.8%	106.0M	-1.81B	-26.4M	0.58	19.45	67,116	38,912	2,007,183	2,378,508
2026-01-30	$39.64	$39.50	24.4%	6.7%	25.1%	15.7%	24.6%	1.9%	0.0%	75.5M	-566.8M	-26.8M	0.89	17.12	34,915	31,221	2,027,895	2,404,585