FDS Options History — February 2025

In February 2025, FDS traded between $453.00 and $470.07. ATM implied volatility averaged 23.9%, placing in the 36.0% IV rank vs the trailing year. The 30-day expected move averaged 6.9%. IV traded above realized volatility by 10.1% (HV 20d: 13.7%). Max pain ranged from $460.00 to $470.00. Net GEX was positive for 19 of 19 trading days. Term structure was in contango for 13 of 19 days. Put/call ratio averaged 1.33.

Notable Days

2025-02-21: Highest Volume — 441 contracts
2025-02-20: Largest IV spike — 22.6% change
2025-02-28: Highest IV Rank — 71.2%
2025-02-28: Largest Expected Move — 9.6%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$461.92	$453.00	$470.07	$469.49	$460.39
Max Pain	$461.58	$460.00	$470.00	$470.00	$460.00
ATM IV	23.9%	18.5%	33.4%	19.4%	33.4%
Expected Move	6.9%	5.4%	9.6%	5.6%	9.6%
HV 20d	13.7%	12.3%	15.5%	15.5%	12.8%
HV 60d	16.2%	15.2%	17.7%	17.7%	15.6%
IV Rank	36.0%	16.2%	71.2%	19.5%	71.2%
IV Percentile	54.7%	13.5%	94.0%	25.0%	94.0%
Term Structure	-0.3%	-6.5%	3.5%	2.5%	-5.2%
VWIV	23.9%	18.1%	31.1%	20.9%	30.3%
Skew 25d	3.8%	1.0%	7.0%	4.9%	5.4%
Skew 10d	4.7%	-6.8%	12.4%	6.2%	6.6%
Call IV 25d	22.2%	18.7%	29.4%	18.7%	28.9%
Put IV 25d	26.0%	20.8%	34.3%	23.6%	34.3%
Bid-Ask Spread %	91.26	82.82	99.15	99.15	91.29
Gamma HHI	0.20	0.12	0.31	0.19	0.28
Net GEX	464.2K	32.0K	828.1K	707.7K	703.3K
Net DEX	-2.4M	-7.5M	1.1M	-3.8M	-6.1M
Net VEX	-26.1K	-35.2K	-18.2K	-31.9K	-35.1K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	1.33	0.00	12.00	2.00	0.40
Total Volume	46.421	1	441	36	7
Total OI	2,258.632	2,163	2,381	2,163	2,381

Daily Data (19 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
2025-02-03	$469.49	$470.00	19.4%	5.6%	15.5%	19.5%	20.9%	4.9%	2.5%	707.7K	-3.8M	-31.9K	2.00	99.15	12	24	820	1,343
2025-02-04	$467.99	$470.00	19.5%	5.6%	15.5%	20.0%	23.7%	1.4%	3.5%	628.2K	-2.9M	-28.7K	0.00	97.55	1	0	822	1,364
2025-02-05	$467.74	$470.00	19.0%	5.4%	14.1%	18.1%	0.0%	2.4%	3.1%	609.5K	-2.4M	-27.7K	0.00	95.88	2	0	823	1,364
2025-02-06	$470.07	$460.00	18.6%	6.2%	12.7%	16.8%	21.6%	2.3%	1.2%	756.2K	-3.3M	-29.2K	0.33	82.82	12	4	823	1,364
2025-02-07	$467.19	$460.00	18.5%	5.9%	12.9%	16.2%	20.3%	5.0%	1.4%	567.2K	-2.1M	-26.0K	0.44	87.60	9	4	822	1,365
2025-02-10	$460.57	$460.00	18.8%	5.8%	13.1%	17.4%	22.1%	2.1%	1.3%	400.4K	-884.5K	-23.8K	0.33	86.06	12	4	823	1,365
2025-02-11	$455.00	$460.00	21.5%	6.3%	13.9%	27.4%	22.5%	3.2%	1.0%	81.1K	719.3K	-18.8K	1.63	92.52	16	26	827	1,367
2025-02-12	$453.00	$460.00	22.1%	6.3%	14.0%	29.7%	21.7%	4.3%	0.4%	32.0K	1.1M	-20.2K	0.27	85.69	11	3	832	1,385
2025-02-13	$457.95	$460.00	22.3%	6.4%	14.5%	30.2%	22.3%	1.0%	1.4%	185.2K	293.3K	-21.5K	2.25	85.76	4	9	837	1,388
2025-02-14	$457.52	$460.00	22.3%	6.4%	13.6%	30.4%	22.9%	4.2%	0.5%	157.1K	169.0K	-20.2K	0.33	94.86	6	2	838	1,391
2025-02-18	$459.35	$460.00	21.6%	6.2%	13.6%	27.6%	18.1%	4.6%	3.3%	110.2K	423.6K	-18.2K	0.04	85.68	90	4	853	1,393
2025-02-19	$465.41	$460.00	20.3%	5.8%	14.1%	22.8%	19.6%	5.5%	1.7%	391.8K	-778.4K	-18.7K	0.04	98.45	45	2	889	1,392
2025-02-20	$465.88	$460.00	24.8%	7.1%	14.0%	39.6%	24.7%	4.1%	0.5%	380.1K	-1.1M	-19.5K	0.30	90.33	44	13	918	1,391
2025-02-21	$461.79	$460.00	28.9%	8.3%	14.3%	54.5%	29.0%	4.0%	-4.6%	240.7K	-418.4K	-18.9K	0.23	92.58	358	83	918	1,385
2025-02-24	$462.63	$460.00	28.8%	8.3%	14.2%	54.2%	28.5%	3.9%	-2.0%	828.1K	-7.5M	-35.2K	1.63	90.96	16	26	988	1,345
2025-02-25	$463.29	$460.00	30.2%	8.7%	12.3%	59.3%	26.9%	7.0%	-5.6%	751.5K	-7.2M	-34.4K	0.75	91.93	4	3	1,002	1,360
2025-02-26	$456.25	$460.00	32.8%	9.4%	13.2%	68.8%	31.1%	3.8%	-6.5%	652.3K	-5.2M	-34.7K	12.00	91.71	1	12	1,004	1,362
2025-02-27	$455.00	$460.00	30.4%	8.7%	12.6%	60.3%	24.2%	3.9%	-3.1%	637.0K	-4.7M	-33.8K	2.25	93.14	4	9	1,004	1,366
2025-02-28	$460.39	$460.00	33.4%	9.6%	12.8%	71.2%	30.3%	5.4%	-5.2%	703.3K	-6.1M	-35.1K	0.40	91.29	5	2	1,006	1,375