FEZ Options History — January 2023

In January 2023, FEZ traded between $39.22 and $43.61. ATM implied volatility averaged 22.0%, placing in the 9.6% IV rank vs the trailing year. The 30-day expected move averaged 6.4%. IV traded above realized volatility by 1.2% (HV 20d: 20.9%). Max pain ranged from $38.00 to $45.00. Net GEX was positive for 5 of 20 trading days. Term structure was in contango for 9 of 20 days. Put/call ratio averaged 16.88.

Notable Days

  • 2023-01-06: Highest Volume — 28,215 contracts
  • 2023-01-05: Largest IV drop — 15.9% change
  • 2023-01-04: Highest IV Rank — 26.3%
  • 2023-01-03: Largest Expected Move — 7.2%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$42.38$39.22$43.61$39.22$43.44
Max Pain$42.00$38.00$45.00$38.00$45.00
ATM IV22.0%19.2%28.8%25.4%20.3%
Expected Move6.4%5.7%7.2%7.2%6.2%
HV 20d20.9%16.0%25.0%20.7%16.0%
HV 60d24.9%23.4%26.2%26.2%23.4%
IV Rank9.6%1.5%26.3%20.3%3.6%
IV Percentile9.6%0.8%55.6%29.0%2.0%
Term Structure-0.1%-1.4%1.1%-0.3%0.3%
VWIV24.7%20.1%30.3%26.6%21.6%
Skew 25d5.1%4.2%6.1%5.5%6.0%
Skew 10d8.8%-7.2%18.2%10.5%12.1%
Call IV 25d20.1%16.9%33.6%22.6%17.6%
Put IV 25d25.2%22.3%37.8%28.1%23.6%
Bid-Ask Spread %58.9430.7676.1350.2537.79
Gamma HHI0.210.120.670.170.15
Net GEX-1.1M-6.7M27.3M-2.7M-5.9M
Net DEX-186.6M-365.6M5.2M-98.7M-6.9M
Net VEX-1.1M-1.4M-903.4K-1.4M-925.3K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio16.880.29188.5729.433.69
Total Volume9,814.3562728,2153,256671
Total OI322,358.7205,420423,804333,667214,532

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2023-01-03$39.22$38.0025.4%7.2%20.7%20.3%26.6%5.5%-0.3%-2.7M-98.7M-1.4M29.4350.25N/AN/A1073,149118,814214,853
2023-01-04$40.22$38.0028.8%6.9%22.2%26.3%30.3%4.2%-1.4%-864.6K-193.0M-1.3M188.5769.73N/AN/A14326,966118,885215,849
2023-01-05$39.95$39.0024.3%7.1%22.3%17.5%25.9%4.7%-0.5%-4.6M-160.9M-1.4M1.9976.13N/AN/A2,0874,151118,996240,105
2023-01-06$41.13$40.0022.6%6.6%24.5%13.1%27.5%4.5%-0.2%-2.4M-250.3M-1.2M0.2972.38N/AN/A21,8316,384120,588246,664
2023-01-09$41.66$40.0023.3%6.7%24.8%14.4%25.9%4.8%0.1%3.3M-307.7M-1.2M1.2171.01N/AN/A7,9729,637140,130251,228
2023-01-10$41.84$40.0022.8%6.6%24.8%13.3%28.1%4.7%0.3%-2.6M-290.2M-1.2M21.3164.93N/AN/A4629,844122,301259,056
2023-01-11$42.33$40.0022.6%6.8%25.0%12.9%30.0%4.5%1.1%-2.7M-315.6M-1.1M7.0966.98N/AN/A2932,076120,581267,187
2023-01-12$42.89$40.0021.4%6.2%24.4%10.5%25.1%4.6%0.5%-223.3K-352.7M-1.0M13.6863.40N/AN/A2883,939120,767268,014
2023-01-13$43.20$40.0020.4%6.1%24.4%7.0%23.6%4.6%1.0%138.3K-365.1M-992.7K0.9270.51N/AN/A4,7404,346120,701271,599
2023-01-17$43.13$40.0020.7%6.0%20.0%6.9%23.6%5.2%-0.7%1.2M-365.6M-1.0M0.7973.70N/AN/A6,9665,492125,594275,784
2023-01-18$42.95$40.0021.9%6.3%19.7%9.3%20.1%5.3%-0.4%2.3M-355.2M-1.0M1.6067.73N/AN/A9,01414,400129,184277,682
2023-01-19$42.61$45.0021.8%6.3%19.8%6.9%24.2%6.0%0.1%-192.1K-298.3M-1.1M0.9956.12N/AN/A11,98611,870136,819286,985
2023-01-20$42.92$45.0021.1%6.1%19.8%5.3%23.0%5.1%-0.4%27.3M-322.5M-1.1M5.5742.90N/AN/A1941,081131,669283,093
2023-01-23$43.23$45.0021.0%6.2%19.5%5.1%23.0%5.8%0.1%-6.7M5.2M-1.0M17.1430.76N/AN/A1252,14239,844168,028
2023-01-24$43.22$45.0021.0%6.1%18.3%5.1%23.3%5.2%-0.5%-5.8M-6.3M-941.2K0.3856.43N/AN/A45517239,862169,399
2023-01-25$43.53$45.0020.6%6.1%18.2%4.3%22.7%5.4%-0.2%-6.3M-11.3M-966.2K33.5850.51N/AN/A551,84739,894169,540
2023-01-26$43.61$45.0020.3%5.9%18.3%3.7%23.3%5.0%-0.3%-5.1M-21.0M-925.0K0.8546.30N/AN/A4,0143,39539,920170,298
2023-01-27$43.50$45.0019.2%5.7%17.3%1.5%22.1%5.3%-0.1%-4.0M-20.3M-903.4K2.1059.77N/AN/A1,1972,51638,008169,301
2023-01-30$43.11$45.0021.0%6.5%17.3%5.1%24.5%6.1%0.5%-6.0M4.2M-942.6K6.5351.43N/AN/A1,3668,91437,277168,143
2023-01-31$43.44$45.0020.3%6.2%16.0%3.6%21.6%6.0%0.3%-5.9M-6.9M-925.3K3.6937.79N/AN/A14352838,494176,038