FEX Options History — December 2025

In December 2025, FEX traded between $117.50 and $120.88. ATM implied volatility averaged 21.7%, placing in the 11.7% IV rank vs the trailing year. The 30-day expected move averaged 5.6%. IV traded above realized volatility by 7.7% (HV 20d: 14.1%). Net GEX was positive for 0 of 22 trading days. Term structure was in contango for 7 of 22 days.

Notable Days

  • 2025-12-10: Largest IV drop — 48.5% change
  • 2025-12-09: Highest IV Rank — 25.6%
  • 2025-12-03: Largest Expected Move — 6.9%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$119.15$117.50$120.88$117.86$118.84
ATM IV21.7%15.7%30.5%23.0%24.1%
Expected Move5.6%4.3%6.9%6.6%6.9%
HV 20d14.1%10.9%16.2%16.2%11.3%
HV 60d13.5%13.0%13.9%13.2%13.9%
IV Rank11.7%3.2%25.6%14.2%14.9%
IV Percentile46.8%7.1%83.7%58.7%64.7%
Term Structure-3.3%-11.2%4.6%-9.3%-11.2%
Skew 25d7.1%0.7%17.4%6.4%0.7%
Skew 10d9.7%1.3%23.5%8.6%6.5%
Call IV 25d15.5%7.3%30.7%19.2%20.1%
Put IV 25d22.6%19.6%33.5%25.5%20.8%
Bid-Ask Spread %178.10152.76186.56153.84183.07
Net GEX00000
Net DEX00000
Net VEX00000
Div Yield0.0%0.0%0.0%0.0%0.0%
Total Volume00000
Total OI00000

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2025-12-01$117.86$0.0023.0%6.6%16.2%14.2%0.0%6.4%-9.3%0000.00153.84N/AN/A0000
2025-12-02$117.77$0.0023.7%6.8%16.2%15.2%0.0%2.8%-9.9%0000.00153.73N/AN/A0000
2025-12-03$118.67$0.0024.2%6.9%15.8%16.0%0.0%5.6%-10.5%0000.00152.76N/AN/A0000
2025-12-04$118.66$0.0025.0%5.2%15.6%17.2%0.0%2.2%-3.3%0000.00183.34N/AN/A0000
2025-12-05$119.19$0.0025.8%4.3%15.2%18.4%0.0%2.1%4.6%0000.00186.56N/AN/A0000
2025-12-08$118.54$0.0029.1%4.4%15.3%23.5%0.0%2.2%2.5%0000.00185.93N/AN/A0000
2025-12-09$118.53$0.0030.5%4.5%15.0%25.6%0.0%2.5%2.4%0000.00185.64N/AN/A0000
2025-12-10$120.41$0.0015.7%4.5%15.9%3.2%0.0%3.8%-5.1%0000.00185.27N/AN/A0000
2025-12-11$120.88$0.0015.9%4.6%15.9%3.4%0.0%3.6%-7.1%0000.00180.78N/AN/A0000
2025-12-12$119.01$0.0016.3%4.7%15.4%4.0%0.0%12.4%2.6%0000.00182.80N/AN/A0000
2025-12-15$119.03$0.0020.7%5.9%15.3%10.8%0.0%13.1%-5.0%0000.00166.81N/AN/A0000
2025-12-16$118.47$0.0020.5%5.9%14.0%9.7%0.0%17.4%-2.8%0000.00170.10N/AN/A0000
2025-12-17$117.50$0.0021.8%6.2%14.5%11.6%0.0%2.9%-4.0%0000.00182.81N/AN/A0000
2025-12-18$118.41$0.0018.0%5.2%14.6%5.5%0.0%11.0%2.7%0000.00182.80N/AN/A0000
2025-12-19$119.09$0.0018.2%5.2%13.2%5.8%0.0%13.5%2.0%0000.00184.04N/AN/A0000
2025-12-22$120.13$0.0019.1%5.5%12.7%7.2%0.0%6.8%0.2%0000.00183.69N/AN/A0000
2025-12-23$120.06$0.0019.5%5.6%12.4%7.8%0.0%13.9%-0.6%0000.00181.56N/AN/A0000
2025-12-24$120.49$0.0019.8%5.7%11.6%8.2%0.0%5.6%-0.2%0000.00182.30N/AN/A0000
2025-12-26$120.09$0.0020.9%6.0%11.1%9.9%0.0%3.1%-1.4%0000.00184.22N/AN/A0000
2025-12-29$119.82$0.0022.6%6.5%11.1%12.5%0.0%12.6%-9.9%0000.00182.73N/AN/A0000
2025-12-30$119.77$0.0023.2%6.7%10.9%13.5%0.0%12.1%-10.6%0000.00183.38N/AN/A0000
2025-12-31$118.84$0.0024.1%6.9%11.3%14.9%0.0%0.7%-11.2%0000.00183.07N/AN/A0000