FEX Options History — September 2025

In September 2025, FEX traded between $113.83 and $117.08. ATM implied volatility averaged 21.7%, placing in the 12.2% IV rank vs the trailing year. The 30-day expected move averaged 5.5%. IV traded above realized volatility by 11.7% (HV 20d: 10.0%). Net GEX was positive for 0 of 21 trading days. Term structure was in contango for 12 of 21 days.

Notable Days

  • 2025-09-10: Largest IV drop — 48.1% change
  • 2025-09-09: Highest IV Rank — 27.1%
  • 2025-09-03: Largest Expected Move — 7.2%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$115.90$113.83$117.08$114.17$116.66
ATM IV21.7%16.3%31.5%24.4%23.8%
Expected Move5.5%4.4%7.2%7.0%6.8%
HV 20d10.0%8.1%11.0%10.3%9.0%
HV 60d10.6%10.2%10.9%10.8%10.3%
IV Rank12.2%4.1%27.1%16.3%15.4%
IV Percentile51.3%11.9%88.5%73.4%69.4%
Term Structure-2.0%-10.9%6.8%-9.1%-10.9%
Skew 25d10.6%4.0%16.1%7.5%16.1%
Skew 10d11.0%-1.3%17.2%9.6%17.2%
Call IV 25d12.0%7.7%19.9%18.6%8.2%
Put IV 25d22.6%19.7%26.1%26.1%24.3%
Bid-Ask Spread %189.83150.53197.89152.27192.25
Net GEX00000
Net DEX00000
Net VEX00000
Div Yield0.0%0.0%0.0%0.0%0.0%
Total Volume00000
Total OI00000

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2025-09-02$114.17$0.0024.4%7.0%10.3%16.3%0.0%7.5%-9.1%0000.00152.27N/AN/A0000
2025-09-03$113.83$0.0025.2%7.2%10.3%17.5%0.0%4.0%-10.1%0000.00150.53N/AN/A0000
2025-09-04$115.03$0.0027.5%5.1%10.9%20.9%0.0%6.9%1.3%0000.00192.17N/AN/A0000
2025-09-05$115.02$0.0026.7%4.4%10.8%19.8%0.0%13.0%2.0%0000.00196.83N/AN/A0000
2025-09-08$115.20$0.0030.1%4.6%10.8%24.9%0.0%15.1%1.8%0000.00196.75N/AN/A0000
2025-09-09$115.37$0.0031.5%4.6%10.8%27.1%0.0%13.0%2.4%0000.00196.19N/AN/A0000
2025-09-10$115.52$0.0016.3%4.7%10.0%4.1%0.0%11.0%0.3%0000.00195.30N/AN/A0000
2025-09-11$117.08$0.0016.4%4.7%10.6%4.2%0.0%5.9%6.8%0000.00189.36N/AN/A0000
2025-09-12$116.29$0.0016.7%4.8%10.8%4.7%0.0%13.0%1.5%0000.00194.40N/AN/A0000
2025-09-15$116.03$0.0017.5%5.0%10.8%5.9%0.0%13.1%0.4%0000.00194.94N/AN/A0000
2025-09-16$115.86$0.0017.8%5.1%10.8%6.4%0.0%13.8%-0.5%0000.00195.87N/AN/A0000
2025-09-17$116.03$0.0018.1%5.2%10.8%6.8%0.0%12.9%0.2%0000.00195.49N/AN/A0000
2025-09-18$116.88$0.0018.3%5.2%11.0%7.0%0.0%13.8%0.5%0000.00192.28N/AN/A0000
2025-09-19$116.91$0.0018.6%5.3%10.8%7.5%0.0%14.0%-0.3%0000.00192.54N/AN/A0000
2025-09-22$117.02$0.0019.7%5.6%8.2%9.2%0.0%4.0%-7.5%0000.00192.43N/AN/A0000
2025-09-23$116.63$0.0020.1%5.8%8.1%9.8%0.0%4.2%-8.1%0000.00192.18N/AN/A0000
2025-09-24$116.44$0.0020.6%5.9%8.1%10.6%0.0%14.9%0.0%0000.00194.53N/AN/A0000
2025-09-25$115.19$0.0021.3%6.1%9.0%11.5%0.0%13.8%6.2%0000.00197.89N/AN/A0000
2025-09-26$116.19$0.0021.6%6.2%9.5%12.1%0.0%6.2%-9.3%0000.00191.50N/AN/A0000
2025-09-29$116.62$0.0023.2%6.6%9.5%14.4%0.0%6.5%-10.4%0000.00190.74N/AN/A0000
2025-09-30$116.66$0.0023.8%6.8%9.0%15.4%0.0%16.1%-10.9%0000.00192.25N/AN/A0000