FEX Options History — November 2025

In November 2025, FEX traded between $112.06 and $118.50. ATM implied volatility averaged 22.1%, placing in the 12.8% IV rank vs the trailing year. The 30-day expected move averaged 5.6%. IV traded above realized volatility by 7.9% (HV 20d: 14.2%). Net GEX was positive for 0 of 19 trading days. Term structure was in contango for 11 of 19 days.

Notable Days

  • 2025-11-12: Largest IV drop — 47.9% change
  • 2025-11-11: Highest IV Rank — 26.0%
  • 2025-11-05: Largest Expected Move — 7.0%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$115.81$112.06$118.50$116.97$118.50
ATM IV22.1%16.1%30.8%23.1%21.1%
Expected Move5.6%4.3%7.0%6.6%6.1%
HV 20d14.2%12.3%16.5%14.4%16.3%
HV 60d12.1%11.3%13.3%11.3%13.1%
IV Rank12.8%3.7%26.0%14.4%11.4%
IV Percentile50.6%10.7%84.1%61.5%50.4%
Term Structure-2.3%-9.9%3.7%-8.5%-7.4%
Skew 25d5.9%0.6%15.0%15.0%5.2%
Skew 10d8.8%1.9%22.0%13.9%12.0%
Call IV 25d20.2%9.8%26.6%9.8%25.6%
Put IV 25d26.1%21.2%32.6%24.8%30.8%
Bid-Ask Spread %162.34151.08195.09194.66151.08
Net GEX00000
Net DEX00000
Net VEX00000
Div Yield0.0%0.0%0.0%0.0%0.0%
Total Volume00000
Total OI00000

Daily Data (19 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2025-11-03$116.97$0.0023.1%6.6%14.4%14.4%0.0%15.0%-8.5%0000.00194.66N/AN/A0000
2025-11-04$115.69$0.0024.0%6.9%14.7%15.8%0.0%11.2%-9.4%0000.00195.09N/AN/A0000
2025-11-05$116.62$0.0024.6%7.0%14.9%16.6%0.0%11.3%-9.9%0000.00194.55N/AN/A0000
2025-11-06$115.61$0.0025.6%4.3%15.0%18.1%0.0%4.1%2.0%0000.00156.83N/AN/A0000
2025-11-07$116.18$0.0026.4%4.4%12.4%19.4%0.0%4.9%3.7%0000.00155.84N/AN/A0000
2025-11-10$117.32$0.0029.5%4.5%12.4%24.1%0.0%1.7%3.2%0000.00152.89N/AN/A0000
2025-11-11$117.56$0.0030.8%4.5%12.3%26.0%0.0%1.6%0.9%0000.00152.68N/AN/A0000
2025-11-12$117.98$0.0016.1%4.6%12.3%3.7%0.0%1.4%1.6%0000.00151.41N/AN/A0000
2025-11-13$115.73$0.0016.6%4.7%13.4%4.4%0.0%1.3%0.8%0000.00156.50N/AN/A0000
2025-11-14$115.63$0.0016.8%4.8%13.4%4.8%0.0%8.2%1.1%0000.00156.45N/AN/A0000
2025-11-17$113.75$0.0017.9%5.1%13.9%6.4%0.0%0.6%0.6%0000.00159.85N/AN/A0000
2025-11-18$113.85$0.0018.2%5.2%13.8%6.9%0.0%6.6%0.8%0000.00159.00N/AN/A0000
2025-11-19$113.73$0.0018.5%5.3%13.6%7.3%0.0%6.9%0.1%0000.00159.65N/AN/A0000
2025-11-20$112.06$0.0023.5%6.7%13.9%14.9%0.0%8.5%-4.7%0000.00161.09N/AN/A0000
2025-11-21$113.73$0.0023.3%6.7%14.8%14.6%0.0%8.8%3.0%0000.00160.25N/AN/A0000
2025-11-24$114.98$0.0020.0%5.7%15.2%9.7%0.0%7.1%-6.7%0000.00158.66N/AN/A0000
2025-11-25$116.56$0.0023.5%6.7%16.0%14.9%0.0%3.8%-7.2%0000.00155.64N/AN/A0000
2025-11-26$117.91$0.0020.4%5.8%16.5%10.2%0.0%4.2%-7.2%0000.00152.37N/AN/A0000
2025-11-28$118.50$0.0021.1%6.1%16.3%11.4%0.0%5.2%-7.4%0000.00151.08N/AN/A0000