FDS Options History — April 2025

In April 2025, FDS traded between $395.48 and $455.61. ATM implied volatility averaged 32.2%, placing in the 46.6% IV rank vs the trailing year. The 30-day expected move averaged 8.6%. IV traded below realized volatility by 5.9% (HV 20d: 38.0%). Max pain ranged from $430.00 to $460.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 6 of 21 days. Put/call ratio averaged 1.33.

Notable Days

2025-04-15: Highest Volume — 598 contracts
2025-04-04: Largest IV spike — 61.2% change
2025-04-07: Highest IV Rank — 100.0%
2025-04-08: Largest Expected Move — 11.3%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$426.48	$395.48	$455.61	$455.61	$429.31
Max Pain	$443.81	$430.00	$460.00	$450.00	$430.00
ATM IV	32.2%	22.2%	54.4%	22.2%	26.0%
Expected Move	8.6%	6.0%	11.3%	6.0%	7.5%
HV 20d	38.0%	18.6%	46.2%	18.6%	45.3%
HV 60d	25.4%	16.4%	29.5%	16.4%	29.3%
IV Rank	46.6%	24.7%	100.0%	24.7%	29.6%
IV Percentile	78.1%	49.6%	100.0%	49.6%	60.3%
Term Structure	-1.9%	-5.8%	2.9%	-2.4%	0.9%
VWIV	30.2%	22.1%	40.7%	22.1%	22.1%
Skew 25d	6.3%	-0.4%	12.2%	6.2%	7.9%
Skew 10d	7.7%	-4.5%	19.0%	10.7%	-4.5%
Call IV 25d	26.8%	18.8%	34.5%	18.8%	19.8%
Put IV 25d	33.0%	21.6%	42.3%	25.1%	27.7%
Bid-Ask Spread %	88.22	75.98	99.55	86.96	99.55
Gamma HHI	0.45	0.28	0.67	0.43	0.39
Net GEX	990.7K	165.1K	4.9M	467.2K	1.4M
Net DEX	-4.0M	-10.7M	3.4M	-10.7M	-5.6M
Net VEX	-30.3K	-42.2K	-17.7K	-21.3K	-30.7K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	1.33	0.00	6.00	1.54	0.01
Total Volume	94.714	3	598	33	158
Total OI	1,090.286	658	1,742	658	1,407

Daily Data (21 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
2025-04-01	$455.61	$450.00	22.2%	6.0%	18.6%	24.7%	22.1%	6.2%	-2.4%	467.2K	-10.7M	-21.3K	1.54	86.96	13	20	444	214
2025-04-02	$451.94	$460.00	23.3%	6.2%	18.8%	27.8%	0.0%	1.7%	0.2%	549.0K	-9.6M	-21.7K	4.00	89.20	3	12	445	223
2025-04-03	$438.78	$460.00	27.5%	7.5%	21.4%	40.5%	24.9%	-0.4%	0.5%	599.1K	-6.5M	-24.7K	2.50	86.24	6	15	446	233
2025-04-04	$421.02	$460.00	44.3%	9.9%	25.9%	91.2%	33.5%	8.6%	-3.3%	418.0K	-1.4M	-25.4K	2.03	82.39	34	69	451	237
2025-04-07	$405.16	$450.00	52.2%	10.2%	28.5%	100.0%	34.1%	7.7%	-1.4%	265.0K	1.7M	-21.9K	3.36	75.98	14	47	461	252
2025-04-08	$395.48	$450.00	54.4%	11.3%	28.1%	100.0%	37.0%	7.8%	-5.0%	165.1K	3.4M	-17.7K	1.00	82.22	5	5	462	248
2025-04-09	$425.28	$450.00	31.0%	8.9%	39.2%	41.9%	31.5%	6.7%	-2.0%	607.5K	-1.6M	-23.2K	2.60	81.80	5	13	464	253
2025-04-10	$412.95	$450.00	39.0%	11.2%	40.5%	61.8%	40.7%	10.6%	-5.2%	436.6K	470.5K	-21.7K	0.33	79.37	3	1	469	252
2025-04-11	$426.95	$450.00	34.5%	9.9%	42.1%	50.7%	34.8%	10.9%	-4.1%	669.2K	-2.9M	-23.4K	0.98	81.17	58	57	472	253
2025-04-14	$435.62	$450.00	29.1%	8.3%	42.4%	37.3%	31.6%	12.2%	-3.1%	927.0K	-6.4M	-26.7K	0.59	84.86	285	169	559	338
2025-04-15	$437.58	$450.00	27.7%	7.9%	42.4%	33.7%	31.3%	6.4%	1.3%	1.4M	-9.4M	-34.9K	0.35	90.66	442	156	817	485
2025-04-16	$425.94	$450.00	31.2%	9.0%	43.4%	42.5%	33.8%	8.1%	-5.8%	1.6M	-5.2M	-41.5K	0.18	91.56	28	5	1,107	626
2025-04-17	$428.12	$450.00	28.5%	8.2%	43.0%	35.8%	27.9%	3.2%	-1.1%	4.9M	-4.1M	-37.6K	0.06	89.34	214	12	1,111	631
2025-04-21	$412.34	$430.00	34.6%	9.9%	45.0%	50.8%	32.2%	5.1%	-5.8%	319.1K	485.6K	-42.2K	0.28	82.57	18	5	738	564
2025-04-22	$424.08	$430.00	32.5%	9.3%	46.2%	45.7%	27.5%	4.6%	-3.1%	676.7K	-2.9M	-41.7K	0.44	91.16	9	4	743	567
2025-04-23	$425.35	$430.00	29.6%	8.5%	45.9%	38.4%	30.0%	2.3%	-2.4%	885.5K	-5.1M	-40.4K	1.00	92.80	36	36	750	569
2025-04-24	$428.31	$430.00	27.6%	7.9%	46.0%	33.5%	25.7%	10.3%	-1.7%	1.1M	-5.5M	-39.7K	6.00	94.29	1	6	788	607
2025-04-25	$424.77	$430.00	27.9%	8.0%	45.3%	34.3%	26.6%	3.4%	-0.1%	1.0M	-3.9M	-34.8K	0.00	98.95	12	0	787	613
2025-04-28	$422.95	$430.00	27.2%	7.8%	45.3%	32.6%	26.0%	4.1%	1.7%	958.4K	-2.9M	-30.3K	0.11	95.08	9	1	790	613
2025-04-29	$428.57	$430.00	24.8%	7.1%	45.3%	26.7%	0.0%	3.9%	2.9%	1.3M	-5.8M	-35.8K	0.50	96.57	2	1	793	614
2025-04-30	$429.31	$430.00	26.0%	7.5%	45.3%	29.6%	22.1%	7.9%	0.9%	1.4M	-5.6M	-30.7K	0.01	99.55	156	2	792	615