FEX Options History — March 2020

In March 2020, FEX traded between $40.67 and $61.00. ATM implied volatility averaged 60.1%, placing in the 76.7% IV rank vs the trailing year. The 30-day expected move averaged 16.9%. IV traded below realized volatility by 0.8% (HV 20d: 60.9%). Max pain ranged from $40.00 to $60.00. Net GEX was positive for 8 of 22 trading days. Term structure was in contango for 0 of 22 days. Put/call ratio averaged 10.00.

Notable Days

  • 2020-03-10: Highest Volume — 23 contracts
  • 2020-03-16: Largest IV spike — 42.1% change
  • 2020-03-16: Highest IV Rank — 100.0%
  • 2020-03-18: Largest Expected Move — 24.2%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$49.83$40.67$61.00$59.95$47.72
Max Pain$43.33$40.00$60.00$60.00$40.00
ATM IV60.1%33.4%84.5%38.6%53.0%
Expected Move16.9%9.6%24.2%11.1%15.2%
HV 20d60.9%30.5%89.1%30.9%86.9%
HV 60d38.0%19.5%53.2%19.5%53.2%
IV Rank76.7%44.1%100.0%53.4%58.5%
IV Percentile97.9%93.3%100.0%98.8%93.3%
Term Structure-8.4%-18.6%-3.1%-5.1%-8.0%
VWIV79.3%76.1%82.5%82.5%76.1%
Skew 25d19.5%5.0%42.9%17.7%28.2%
Skew 10d26.4%8.1%51.2%10.5%47.9%
Call IV 25d46.4%23.2%64.7%24.9%30.9%
Put IV 25d65.9%37.5%90.7%42.6%59.1%
Bid-Ask Spread %119.4993.35140.55140.55113.38
Gamma HHI0.320.160.630.550.19
Net GEX-36-3.2K5.9K5.0K-2.9K
Net DEX31.0K-48.0K110.0K-43.4K67.8K
Net VEX-393-616-165-281-511
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio10.0010.0010.0010.0010.00
Total Volume3.13602300
Total OI70371033798

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2020-03-02$59.95$60.0038.6%11.1%30.9%53.4%0.0%17.7%-5.1%5.0K-43.4K-2810.00140.55N/AN/A00370
2020-03-03$59.57$60.0039.5%11.3%30.5%55.0%0.0%13.0%-8.2%4.8K-38.1K-2750.00131.62N/AN/A00370
2020-03-04$61.00$60.0033.4%9.6%31.2%44.1%0.0%14.3%-3.1%5.9K-48.0K-3040.00139.24N/AN/A00370
2020-03-05$58.85$0.0042.1%11.0%32.7%59.7%0.0%27.4%-4.7%4.4K-33.5K-2410.00116.50N/AN/A00370
2020-03-06$57.37$0.0053.4%12.7%33.3%79.6%0.0%18.6%-7.3%3.6K-33.3K-2370.00115.42N/AN/A00370
2020-03-09$53.00$0.0062.3%14.6%41.9%95.4%0.0%7.2%-4.5%1.9K-18.2K-1650.00111.88N/AN/A00370
2020-03-10$54.61$0.0052.0%14.4%44.2%77.2%82.5%12.0%-14.4%2.5K-30.1K-2390.00105.55N/AN/A023370
2020-03-11$52.02$40.0052.0%14.9%45.6%77.2%0.0%19.4%-5.2%32111.6K-3210.00100.11N/AN/A003723
2020-03-12$47.11$40.0063.9%18.3%54.4%98.2%0.0%5.0%-10.6%-68532.5K-2510.00121.23N/AN/A003723
2020-03-13$48.86$40.0057.9%16.6%57.5%87.6%0.0%14.8%-9.0%-63628.0K-2450.00118.39N/AN/A0133723
2020-03-16$44.90$40.0082.3%23.6%62.0%100.0%0.0%23.4%-6.9%-52240.2K-3840.00132.56N/AN/A003733
2020-03-17$45.76$40.0075.9%21.8%63.2%91.4%0.0%26.1%-9.1%-84943.7K-35610.00131.40N/AN/A1103733
2020-03-18$41.67$40.0084.5%24.2%67.7%100.0%0.0%27.4%-8.9%-1.3K63.9K-4410.00126.50N/AN/A0103843
2020-03-19$44.06$40.0071.5%20.5%73.1%82.8%76.1%17.0%-13.6%-2.2K73.8K-4980.00118.33N/AN/A0123853
2020-03-20$42.36$40.0075.5%21.7%73.3%88.2%0.0%32.5%-6.3%-2.7K90.7K-6160.00130.23N/AN/A003865
2020-03-23$40.67$40.0070.7%20.3%73.6%81.9%0.0%13.8%-11.6%-2.7K110.0K-5780.00127.03N/AN/A003365
2020-03-24$44.79$40.0061.3%17.6%84.7%69.4%0.0%8.6%-10.0%-3.2K90.1K-5620.00127.75N/AN/A003365
2020-03-25$47.51$40.0066.4%19.0%88.8%76.1%0.0%16.0%-18.6%-2.8K69.8K-5610.00125.83N/AN/A003365
2020-03-26$48.28$40.0062.5%17.9%89.1%71.0%0.0%23.3%-8.1%-2.7K66.1K-5360.00105.43N/AN/A003365
2020-03-27$47.81$40.0063.5%18.2%88.5%72.4%0.0%42.9%-7.0%-2.9K70.4K-5350.0093.35N/AN/A003365
2020-03-30$48.49$40.0060.6%17.4%86.9%68.6%0.0%20.6%-3.9%-3.1K67.6K-4980.0096.42N/AN/A003365
2020-03-31$47.72$40.0053.0%15.2%86.9%58.5%0.0%28.2%-8.0%-2.9K67.8K-5110.00113.38N/AN/A003365