FDS Options History — November 2025

In November 2025, FDS traded between $253.16 and $279.81. ATM implied volatility averaged 45.1%, placing in the 77.5% IV rank vs the trailing year. The 30-day expected move averaged 13.2%. IV traded above realized volatility by 8.1% (HV 20d: 37.0%). Max pain ranged from $280.00 to $290.00. Net GEX was positive for 7 of 19 trading days. Term structure was in contango for 6 of 19 days. Put/call ratio averaged 1.39.

Notable Days

2025-11-21: Highest Volume — 1,181 contracts
2025-11-11: Largest IV spike — 23.7% change
2025-11-25: Highest IV Rank — 95.5%
2025-11-25: Largest Expected Move — 15.1%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$270.56	$253.16	$279.81	$264.98	$277.75
Max Pain	$287.89	$280.00	$290.00	$290.00	$280.00
ATM IV	45.1%	35.7%	52.6%	37.4%	51.5%
Expected Move	13.2%	10.7%	15.1%	10.7%	14.8%
HV 20d	37.0%	28.5%	40.3%	35.0%	28.5%
HV 60d	38.2%	36.9%	39.0%	37.1%	38.9%
IV Rank	77.5%	54.7%	95.5%	58.8%	93.0%
IV Percentile	97.3%	89.7%	99.6%	93.7%	98.4%
Term Structure	-2.0%	-9.6%	7.7%	7.7%	-9.3%
VWIV	45.7%	40.2%	55.5%	40.2%	50.1%
Skew 25d	5.0%	0.8%	10.4%	3.6%	5.3%
Skew 10d	10.8%	-9.9%	35.4%	1.4%	12.4%
Call IV 25d	43.3%	37.5%	48.4%	38.0%	48.4%
Put IV 25d	48.3%	41.3%	56.4%	41.6%	53.7%
Bid-Ask Spread %	84.21	78.53	91.14	83.14	81.74
Gamma HHI	0.12	0.09	0.18	0.11	0.10
Net GEX	86.1K	-610.1K	1.3M	-76.5K	1.3M
Net DEX	6.1M	-15.3M	36.8M	15.0M	-15.3M
Net VEX	-312.6K	-357.7K	-269.6K	-338.5K	-299.0K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	1.39	0.15	5.58	1.61	0.32
Total Volume	434.632	75	1,181	391	75
Total OI	11,280.895	9,460	11,900	11,297	10,073

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
2025-11-03	$264.98	$290.00	37.4%	10.7%	35.0%	58.8%	40.2%	3.6%	7.7%	-76.5K	15.0M	-338.5K	1.61	83.14	150	241	7,498	3,799
2025-11-04	$264.06	$290.00	42.7%	12.2%	34.9%	71.6%	42.6%	4.2%	3.2%	-232.2K	17.7M	-324.0K	1.57	84.38	261	411	7,574	3,878
2025-11-05	$261.34	$290.00	43.3%	12.4%	34.4%	73.1%	42.5%	2.0%	5.2%	-413.1K	22.9M	-307.4K	2.90	81.49	120	348	7,678	3,944
2025-11-06	$253.16	$290.00	42.2%	13.8%	35.7%	70.5%	44.0%	4.8%	-3.7%	-610.1K	36.8M	-269.6K	1.09	80.44	403	439	7,718	4,003
2025-11-07	$263.09	$290.00	39.4%	12.4%	38.9%	63.5%	43.2%	0.8%	-1.3%	-434.6K	20.1M	-311.8K	0.61	86.43	230	140	7,685	3,951
2025-11-10	$266.32	$290.00	35.7%	12.2%	38.8%	54.7%	43.2%	4.0%	0.1%	-543.7K	16.6M	-314.6K	0.75	80.01	128	96	7,665	3,974
2025-11-11	$272.04	$290.00	44.1%	12.5%	39.8%	75.1%	43.8%	3.1%	-1.8%	55.9K	4.8M	-332.5K	1.18	78.53	234	276	7,682	4,008
2025-11-12	$271.16	$290.00	42.0%	12.0%	39.8%	69.9%	42.4%	2.8%	-0.1%	-246.3K	8.6M	-328.9K	1.77	86.73	61	108	7,694	4,113
2025-11-13	$279.81	$290.00	43.2%	12.4%	40.3%	72.9%	44.7%	7.2%	-1.7%	685.6K	-10.4M	-357.7K	1.07	88.75	237	253	7,727	4,173
2025-11-14	$273.88	$290.00	42.4%	12.1%	38.6%	70.8%	40.7%	5.7%	2.4%	-45.6K	3.2M	-327.5K	1.67	90.28	54	90	7,646	4,130
2025-11-17	$271.96	$290.00	46.2%	13.3%	38.2%	80.1%	44.5%	4.9%	-2.2%	-299.2K	6.5M	-313.7K	1.18	87.00	56	66	7,636	4,129
2025-11-18	$272.22	$290.00	45.1%	12.9%	37.9%	77.4%	45.6%	4.7%	0.7%	-456.5K	6.8M	-304.5K	5.58	86.82	80	446	7,621	4,115
2025-11-19	$268.29	$290.00	49.5%	14.2%	38.0%	88.0%	49.9%	10.4%	-4.1%	-295.2K	12.9M	-304.9K	2.09	91.14	167	349	7,604	4,240
2025-11-20	$273.90	$290.00	50.1%	14.4%	38.9%	89.6%	49.5%	7.0%	-6.8%	-566.3K	5.0M	-290.2K	0.97	84.98	208	202	7,635	4,179
2025-11-21	$276.34	$290.00	49.0%	14.1%	39.0%	86.9%	49.0%	6.5%	-2.8%	800.2K	-2.9M	-306.5K	0.65	81.42	714	467	7,593	4,168
2025-11-24	$272.98	$280.00	52.5%	15.0%	38.5%	95.2%	49.1%	6.0%	-9.6%	885.4K	-6.1M	-297.6K	0.54	84.87	145	78	6,504	2,956
2025-11-25	$279.22	$280.00	52.6%	15.1%	39.6%	95.5%	55.5%	7.0%	-8.8%	1.1M	-12.9M	-304.1K	0.69	80.85	319	219	6,497	2,986
2025-11-26	$278.09	$280.00	48.5%	13.9%	28.5%	85.5%	47.9%	5.0%	-4.6%	1.1M	-12.7M	-306.8K	0.15	81.01	336	51	6,717	3,144
2025-11-28	$277.75	$280.00	51.5%	14.8%	28.5%	93.0%	50.1%	5.3%	-9.3%	1.3M	-15.3M	-299.0K	0.32	81.74	57	18	6,917	3,156