FDS Options History — December 2023

In December 2023, FDS traded between $441.95 and $477.63. ATM implied volatility averaged 20.0%, placing in the 18.3% IV rank vs the trailing year. The 30-day expected move averaged 6.0%. IV traded above realized volatility by 4.4% (HV 20d: 15.6%). Max pain ranged from $430.00 to $470.00. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 8 of 20 days. Put/call ratio averaged 0.67.

Notable Days

2023-12-14: Highest Volume — 882 contracts
2023-12-11: Largest IV spike — 18.5% change
2023-12-14: Highest IV Rank — 35.2%
2023-12-14: Largest Expected Move — 6.9%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$457.31	$441.95	$477.63	$453.86	$476.15
Max Pain	$447.50	$430.00	$470.00	$440.00	$470.00
ATM IV	20.0%	15.8%	23.9%	20.1%	15.8%
Expected Move	6.0%	4.5%	6.9%	5.8%	4.5%
HV 20d	15.6%	12.8%	19.2%	12.9%	18.7%
HV 60d	16.3%	15.6%	17.5%	15.6%	16.7%
IV Rank	18.3%	0.5%	35.2%	18.4%	0.5%
IV Percentile	27.3%	0.4%	73.0%	21.4%	0.4%
Term Structure	-0.9%	-4.4%	2.3%	2.3%	1.2%
VWIV	21.4%	16.7%	27.4%	18.2%	16.7%
Skew 25d	2.6%	0.6%	7.1%	1.5%	1.4%
Skew 10d	4.8%	0.7%	9.9%	3.0%	2.7%
Call IV 25d	19.6%	15.3%	23.5%	18.4%	15.3%
Put IV 25d	22.2%	16.8%	28.1%	19.9%	16.8%
Bid-Ask Spread %	75.65	56.07	91.41	91.41	81.57
Gamma HHI	0.18	0.13	0.32	0.15	0.19
Net GEX	1.2M	191.6K	3.7M	1.4M	984.8K
Net DEX	-10.7M	-19.7M	-1.6M	-10.0M	-16.5M
Net VEX	-96.6K	-125.7K	-72.3K	-91.5K	-118.9K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.67	0.00	1.73	0.00	0.71
Total Volume	232	12	882	765	29
Total OI	3,180	1,834	4,651	3,369	2,443

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
2023-12-01	$453.86	$440.00	20.1%	5.8%	12.9%	18.4%	18.2%	1.5%	2.3%	1.4M	-10.0M	-91.5K	0.00	91.41	764	1	1,984	1,385
2023-12-04	$455.31	$430.00	19.7%	6.0%	12.8%	16.6%	27.4%	3.7%	-0.7%	2.6M	-14.1M	-96.5K	0.20	64.90	10	2	2,221	1,385
2023-12-05	$445.46	$430.00	21.2%	6.8%	15.2%	22.9%	25.0%	7.1%	-4.4%	1.4M	-7.6M	-83.0K	1.09	73.94	11	12	2,224	1,387
2023-12-06	$442.81	$430.00	20.1%	6.5%	14.5%	18.4%	19.7%	3.8%	-1.0%	277.6K	-2.3M	-78.3K	1.29	72.04	17	22	2,225	1,392
2023-12-07	$441.95	$430.00	20.2%	6.7%	14.1%	19.0%	25.7%	2.5%	-1.9%	219.2K	-1.6M	-78.2K	0.88	69.76	8	7	2,228	1,398
2023-12-08	$442.75	$430.00	18.8%	6.8%	14.0%	13.3%	23.5%	2.6%	-2.0%	279.5K	-2.4M	-75.7K	0.69	74.80	183	126	2,229	1,403
2023-12-11	$448.87	$430.00	22.3%	6.6%	14.6%	27.8%	25.7%	3.6%	-1.0%	1.2M	-8.6M	-76.1K	0.02	69.64	174	4	2,373	1,484
2023-12-12	$452.38	$430.00	19.6%	6.5%	14.9%	16.4%	22.6%	2.0%	-2.3%	2.0M	-12.6M	-72.6K	1.73	69.71	22	38	2,486	1,486
2023-12-13	$458.30	$430.00	23.1%	6.6%	14.5%	31.1%	23.8%	3.2%	-3.4%	3.7M	-19.7M	-74.0K	0.23	72.57	298	70	2,499	1,501
2023-12-14	$454.16	$450.00	23.9%	6.9%	14.8%	35.2%	23.6%	2.6%	-1.4%	3.2M	-14.6M	-72.3K	0.04	72.37	844	38	2,762	1,558
2023-12-15	$454.22	$450.00	23.6%	6.8%	14.2%	33.6%	27.3%	5.9%	0.0%	1.2M	-14.9M	-99.3K	0.69	77.68	185	127	3,076	1,575
2023-12-18	$457.84	$450.00	23.6%	6.8%	13.3%	33.6%	23.5%	1.8%	-4.0%	434.2K	-6.1M	-98.4K	0.53	56.07	410	217	1,093	741
2023-12-19	$450.95	$450.00	19.5%	5.6%	14.3%	16.3%	17.7%	1.8%	-1.8%	711.8K	-6.4M	-108.0K	1.32	80.82	268	354	1,455	926
2023-12-20	$452.40	$460.00	20.1%	5.8%	14.3%	19.0%	18.6%	2.8%	0.2%	191.6K	-2.6M	-113.8K	0.27	81.40	101	27	1,443	1,070
2023-12-21	$468.69	$460.00	18.2%	5.2%	19.2%	10.9%	18.2%	2.9%	0.4%	886.4K	-13.9M	-124.4K	0.74	80.96	39	29	1,409	1,055
2023-12-22	$467.97	$470.00	17.4%	5.0%	19.1%	7.5%	17.3%	1.1%	1.6%	819.9K	-13.7M	-125.7K	0.43	80.61	63	27	1,393	1,053
2023-12-26	$471.74	$470.00	17.9%	5.1%	19.2%	9.8%	18.6%	0.6%	0.5%	752.0K	-14.3M	-115.6K	0.07	80.87	15	1	1,346	1,071
2023-12-27	$472.80	$470.00	18.1%	5.2%	19.0%	10.3%	17.9%	1.2%	-1.1%	798.6K	-14.9M	-117.2K	0.94	79.96	17	16	1,344	1,070
2023-12-28	$477.63	$470.00	17.1%	4.9%	18.7%	6.1%	17.4%	0.6%	0.5%	1.1M	-18.1M	-112.3K	1.56	81.90	25	39	1,356	1,071
2023-12-29	$476.15	$470.00	15.8%	4.5%	18.7%	0.5%	16.7%	1.4%	1.2%	984.8K	-16.5M	-118.9K	0.71	81.57	17	12	1,348	1,095