FDS Options History — January 2025

In January 2025, FDS traded between $452.33 and $476.90. ATM implied volatility averaged 20.4%, placing in the 23.4% IV rank vs the trailing year. The 30-day expected move averaged 5.5%. IV traded above realized volatility by 2.7% (HV 20d: 17.7%). Max pain ranged from $470.00 to $490.00. Net GEX was positive for 16 of 20 trading days. Term structure was in contango for 19 of 20 days. Put/call ratio averaged 0.65.

Notable Days

2025-01-16: Highest Volume — 66 contracts
2025-01-13: Largest IV spike — 42.7% change
2025-01-13: Highest IV Rank — 69.0%
2025-01-08: Largest Expected Move — 6.1%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$464.20	$452.33	$476.90	$476.90	$472.18
Max Pain	$475.00	$470.00	$490.00	$490.00	$470.00
ATM IV	20.4%	16.6%	32.8%	19.9%	19.7%
Expected Move	5.5%	4.8%	6.1%	5.7%	5.7%
HV 20d	17.7%	13.9%	20.4%	18.7%	15.6%
HV 60d	17.5%	17.0%	17.8%	17.1%	17.7%
IV Rank	23.4%	9.3%	69.0%	21.5%	20.8%
IV Percentile	31.6%	2.0%	92.9%	37.3%	32.1%
Term Structure	1.6%	-0.1%	3.8%	-0.1%	1.9%
VWIV	19.0%	11.8%	22.5%	17.8%	16.8%
Skew 25d	2.4%	-0.1%	7.1%	1.5%	7.1%
Skew 10d	3.9%	-3.9%	9.9%	4.8%	-2.0%
Call IV 25d	18.3%	14.5%	21.5%	17.5%	17.1%
Put IV 25d	20.8%	17.9%	24.2%	18.9%	24.2%
Bid-Ask Spread %	89.76	82.16	100.16	97.01	100.16
Gamma HHI	0.17	0.11	0.25	0.24	0.20
Net GEX	333.3K	-57.4K	804.0K	403.7K	745.3K
Net DEX	-1.0M	-5.0M	2.5M	-2.1M	-4.4M
Net VEX	-30.2K	-39.3K	-24.6K	-39.3K	-32.2K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.65	0.00	3.20	0.80	0.50
Total Volume	29.7	3	66	27	3
Total OI	2,091.45	1,944	2,164	2,004	2,161

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
2025-01-02	$476.90	$490.00	19.9%	5.7%	18.7%	21.5%	17.8%	1.5%	-0.1%	403.7K	-2.1M	-39.3K	0.80	97.01	15	12	702	1,302
2025-01-03	$475.57	$490.00	17.7%	5.1%	18.6%	13.3%	18.3%	-0.1%	0.5%	419.0K	-2.3M	-39.0K	0.00	94.97	6	0	709	1,300
2025-01-06	$466.91	$490.00	19.6%	5.6%	19.5%	20.5%	19.2%	1.4%	1.7%	180.9K	-321.4K	-33.2K	0.45	85.57	40	18	713	1,303
2025-01-07	$459.19	$480.00	20.2%	5.6%	20.2%	22.7%	20.0%	2.1%	1.7%	88.0K	760.4K	-31.9K	1.06	82.31	18	19	738	1,316
2025-01-08	$458.22	$480.00	21.0%	6.1%	20.1%	25.7%	19.0%	3.3%	1.5%	63.1K	1.1M	-28.9K	0.67	87.60	6	4	749	1,323
2025-01-10	$452.33	$480.00	23.0%	6.0%	19.8%	32.8%	20.8%	0.9%	0.9%	-57.4K	2.5M	-25.5K	0.76	83.66	25	19	752	1,324
2025-01-13	$453.27	$480.00	32.8%	6.0%	19.3%	69.0%	21.5%	-0.1%	2.8%	-37.5K	2.1M	-27.0K	0.22	82.16	32	7	761	1,337
2025-01-14	$453.28	$470.00	31.4%	6.0%	19.3%	63.9%	22.5%	3.4%	1.7%	-34.1K	2.1M	-27.1K	1.20	85.30	10	12	779	1,342
2025-01-15	$454.47	$470.00	19.8%	5.7%	19.4%	21.2%	0.0%	3.0%	2.1%	-48.5K	2.4M	-24.6K	0.41	87.62	34	14	786	1,346
2025-01-16	$460.84	$470.00	19.3%	5.5%	20.3%	19.4%	18.3%	1.9%	0.5%	274.1K	452.5K	-26.0K	0.05	88.17	63	3	796	1,331
2025-01-17	$461.86	$470.00	18.3%	5.2%	20.4%	15.5%	18.1%	0.1%	2.3%	351.1K	-288.3K	-25.9K	0.29	86.89	41	12	832	1,332
2025-01-21	$465.79	$470.00	18.6%	5.3%	18.6%	16.6%	19.0%	6.0%	2.6%	315.6K	-1.6M	-26.3K	0.42	89.09	19	8	701	1,243
2025-01-22	$463.28	$470.00	18.6%	5.3%	14.4%	16.5%	19.1%	2.5%	0.6%	298.8K	-1.5M	-25.4K	0.93	86.16	27	25	712	1,249
2025-01-23	$462.86	$470.00	18.4%	5.3%	14.1%	16.0%	19.9%	3.5%	1.5%	463.6K	-2.0M	-30.6K	3.20	84.62	5	16	791	1,324
2025-01-24	$465.65	$470.00	18.0%	5.2%	13.9%	14.4%	11.8%	2.5%	2.3%	494.1K	-2.3M	-31.0K	0.43	87.92	21	9	795	1,337
2025-01-27	$474.35	$470.00	16.6%	4.8%	15.7%	9.3%	19.0%	1.4%	3.8%	804.0K	-5.0M	-35.0K	0.15	89.98	13	2	816	1,346
2025-01-28	$471.18	$470.00	18.7%	5.4%	15.7%	17.1%	22.3%	1.3%	0.8%	716.9K	-4.1M	-33.2K	0.79	97.13	14	11	816	1,348
2025-01-29	$465.56	$470.00	18.7%	5.4%	15.3%	17.2%	19.0%	3.5%	1.7%	510.7K	-2.4M	-29.6K	0.33	99.88	3	1	817	1,341
2025-01-30	$470.29	$470.00	18.1%	5.2%	15.7%	15.0%	17.8%	4.0%	1.5%	713.7K	-3.9M	-31.7K	0.40	99.01	5	2	817	1,342
2025-01-31	$472.18	$470.00	19.7%	5.7%	15.6%	20.8%	16.8%	7.1%	1.9%	745.3K	-4.4M	-32.2K	0.50	100.16	2	1	819	1,342