FDS Options History — September 2025

In September 2025, FDS traded between $284.35 and $375.93. ATM implied volatility averaged 32.8%, placing in the 47.8% IV rank vs the trailing year. The 30-day expected move averaged 9.1%. IV traded below realized volatility by 1.6% (HV 20d: 34.4%). Max pain ranged from $300.00 to $400.00. Net GEX was positive for 7 of 21 trading days. Term structure was in contango for 7 of 21 days. Put/call ratio averaged 1.13.

Notable Days

  • 2025-09-18: Highest Volume — 14,048 contracts
  • 2025-09-18: Largest IV drop — 22.5% change
  • 2025-09-09: Highest IV Rank — 63.4%
  • 2025-09-17: Largest Expected Move — 11.2%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$331.35$284.35$375.93$366.75$286.38
Max Pain$357.14$300.00$400.00$370.00$300.00
ATM IV32.8%29.4%39.3%33.5%30.6%
Expected Move9.1%8.4%11.2%9.6%8.8%
HV 20d34.4%23.2%47.8%24.0%47.8%
HV 60d26.2%20.5%32.6%20.5%32.6%
IV Rank47.8%39.5%63.4%49.5%42.4%
IV Percentile86.6%75.4%98.0%92.1%80.6%
Term Structure-2.2%-8.0%1.6%-4.0%1.0%
VWIV31.5%27.9%39.5%33.4%32.5%
Skew 25d2.4%-0.9%6.6%3.7%1.2%
Skew 10d7.1%-1.6%16.2%-1.6%2.4%
Call IV 25d30.9%26.7%38.2%33.1%31.5%
Put IV 25d33.3%28.3%43.6%36.8%32.8%
Bid-Ask Spread %77.7756.8588.3782.9483.28
Gamma HHI0.180.090.360.210.10
Net GEX-1.6M-4.7M1.4M-2.4M1.0M
Net DEX30.7M-6.2M201.4M12.4M11.6M
Net VEX-269.6K-354.8K-121.2K-286.3K-329.9K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.130.134.431.190.49
Total Volume2,047.7625014,048103296
Total OI8,467.2385,98314,3016,07711,164

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2025-09-02$366.75$370.0033.5%9.6%24.0%49.5%33.4%3.7%-4.0%-2.4M12.4M-286.3K1.1982.9447562,6273,450
2025-09-03$370.27$370.0033.1%9.5%23.7%48.5%31.7%3.9%-5.6%-2.3M5.2M-283.3K0.3284.2047152,6273,456
2025-09-04$367.98$390.0033.0%8.9%23.3%48.3%28.3%3.9%-5.1%-2.5M5.3M-282.7K0.1382.40310402,6573,459
2025-09-05$371.07$390.0033.9%8.7%23.2%50.5%29.8%2.0%-3.0%-2.2M2.4M-274.4K0.6388.3751322,5233,460
2025-09-08$375.93$390.0035.3%8.6%23.5%53.8%27.9%2.9%-3.9%-2.0M-6.2M-267.1K0.4782.6834162,5293,461
2025-09-09$371.99$390.0039.3%8.8%23.6%63.4%30.3%0.5%-2.6%-2.3M-919.7K-263.0K1.4183.3527382,5803,462
2025-09-10$361.78$390.0030.9%8.9%24.1%43.2%29.6%3.9%-2.7%-3.2M20.0M-255.2K1.4979.051071592,5963,462
2025-09-11$369.30$400.0030.2%8.7%24.2%41.5%29.5%-0.9%-3.3%-2.6M7.7M-255.4K0.2082.10228462,5783,578
2025-09-12$363.08$400.0032.7%9.4%24.8%47.5%32.0%3.0%-4.2%-3.5M18.1M-245.4K0.3475.31120412,6043,582
2025-09-15$345.67$400.0037.6%10.8%29.9%59.4%33.9%3.7%-8.0%-3.4M49.1M-212.2K4.4369.906542,9002,6283,608
2025-09-16$344.58$400.0037.4%10.7%29.8%58.8%37.0%6.6%-4.5%-3.7M60.2M-224.0K2.2456.855611,2543,2224,881
2025-09-17$334.98$400.0038.9%11.2%30.6%62.6%39.5%5.4%-4.7%-3.4M76.4M-215.5K1.8859.102,1794,0983,6235,500
2025-09-18$300.55$350.0030.2%8.7%44.9%41.4%30.5%1.6%-1.3%-4.7M201.4M-121.2K3.7570.302,95511,0935,7038,301
2025-09-19$289.90$330.0030.7%8.8%45.4%42.7%31.8%-0.2%1.1%-2.0M141.1M-200.3K1.8576.512,8495,2577,5596,742
2025-09-22$296.42$310.0030.2%8.7%46.4%41.5%31.4%0.4%-0.4%1.0M-1.0M-294.4K0.4976.331,3586675,8982,393
2025-09-23$288.72$310.0030.2%8.6%46.0%41.4%30.5%1.5%0.8%830.0K10.6M-295.8K0.7479.931,3481,0046,2852,715
2025-09-24$287.85$310.0030.9%8.9%46.1%43.1%31.2%1.5%0.8%982.6K11.0M-326.2K0.4578.907413347,0903,098
2025-09-25$284.35$300.0031.0%8.9%45.8%43.4%31.5%1.8%1.4%1.0M14.2M-329.3K0.2877.095421527,5343,228
2025-09-26$289.51$300.0029.4%8.4%47.2%39.5%29.7%1.7%1.6%1.2M6.2M-345.9K0.4283.655822477,5623,245
2025-09-29$291.34$300.0029.9%8.6%47.7%40.8%30.4%1.7%0.5%1.4M770.2K-354.8K0.5080.973451737,7543,388
2025-09-30$286.38$300.0030.6%8.8%47.8%42.4%32.5%1.2%1.0%1.0M11.6M-329.9K0.4983.28198987,7283,436