FEZ Options History — May 2023

In May 2023, FEZ traded between $44.09 and $46.42. ATM implied volatility averaged 18.6%, placing in the 7.1% IV rank vs the trailing year. The 30-day expected move averaged 5.3%. IV traded above realized volatility by 5.0% (HV 20d: 13.6%). Max pain ranged from $45.00 to $47.00. Net GEX was positive for 0 of 22 trading days. Term structure was in contango for 13 of 22 days. Put/call ratio averaged 11.08.

Notable Days

  • 2023-05-31: Highest Volume — 38,091 contracts
  • 2023-05-05: Largest IV drop — 18.3% change
  • 2023-05-24: Highest IV Rank — 23.7%
  • 2023-05-24: Largest Expected Move — 6.0%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$45.61$44.09$46.42$46.33$44.09
Max Pain$46.64$45.00$47.00$45.00$46.00
ATM IV18.6%16.8%22.0%17.5%19.4%
Expected Move5.3%4.7%6.0%5.0%5.5%
HV 20d13.6%12.2%15.2%12.2%15.2%
HV 60d18.2%17.2%18.7%18.6%18.1%
IV Rank7.1%0.0%23.7%1.1%11.9%
IV Percentile6.8%0.0%27.4%0.4%12.7%
Term Structure0.3%-1.7%2.5%0.2%-0.9%
VWIV20.3%16.4%24.1%20.3%18.3%
Skew 25d7.2%5.9%8.6%5.9%6.9%
Skew 10d13.3%-1.9%30.6%13.4%16.1%
Call IV 25d15.5%14.1%19.2%15.1%15.6%
Put IV 25d22.7%20.6%27.8%21.1%22.4%
Bid-Ask Spread %55.3026.8471.8650.4249.00
Gamma HHI0.200.130.270.130.26
Net GEX-5.7M-8.7M-2.1M-3.5M-8.7M
Net DEX-19.3M-50.6M28.5M-45.1M28.5M
Net VEX-789.9K-867.5K-720.0K-815.3K-759.7K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio11.080.1067.096.9424.28
Total Volume4,006.09127238,09138938,091
Total OI158,135.364102,676188,347175,755108,107

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2023-05-01$46.33$45.0017.5%5.0%12.2%1.1%20.3%5.9%0.2%-3.5M-45.1M-815.3K6.9450.42N/AN/A4934037,777137,978
2023-05-02$45.72$45.0020.0%5.7%13.1%12.9%21.9%7.6%-0.3%-5.6M-23.6M-864.3K3.7261.74N/AN/A1,3364,96637,790138,137
2023-05-03$45.84$45.0019.4%5.5%13.1%10.2%21.9%7.4%0.1%-5.0M-22.8M-867.5K0.5267.48N/AN/A1799337,279140,132
2023-05-04$45.66$47.0021.3%5.9%13.1%18.7%24.1%8.6%0.1%-5.7M-20.9M-864.3K3.4234.24N/AN/A16957837,199140,117
2023-05-05$46.42$47.0017.4%5.6%14.1%0.5%20.7%6.6%0.0%-2.5M-47.3M-793.5K6.0845.97N/AN/A3872,35437,246140,520
2023-05-08$46.39$47.0017.5%5.6%14.1%0.9%22.0%7.0%2.1%-2.1M-50.6M-759.7K67.0948.00N/AN/A1298,65536,964140,152
2023-05-09$45.95$47.0018.3%5.4%14.6%4.9%21.0%7.5%0.5%-4.9M-27.1M-823.5K0.8558.20N/AN/A92178737,078148,574
2023-05-10$45.89$47.0017.5%5.2%14.4%1.2%22.6%7.4%0.9%-5.3M-27.5M-801.0K1.9846.48N/AN/A2,0814,12237,008148,605
2023-05-11$45.66$47.0018.1%5.1%13.5%4.1%21.8%7.3%-0.0%-6.0M-19.2M-815.9K3.2426.84N/AN/A8432,73436,590148,748
2023-05-12$45.50$47.0017.7%5.4%13.5%1.9%19.9%6.8%1.9%-6.5M-12.4M-821.4K1.0452.34N/AN/A1,0151,05236,431149,356
2023-05-15$45.70$47.0017.0%4.8%13.2%0.0%19.3%6.9%2.5%-6.7M-25.0M-769.7K0.1064.21N/AN/A7627637,037149,166
2023-05-16$45.47$47.0018.4%5.3%12.8%6.4%19.8%6.6%0.8%-6.7M-17.5M-805.0K3.7971.86N/AN/A3701,40137,590149,150
2023-05-17$45.75$47.0017.1%4.9%13.1%0.3%18.8%6.8%2.4%-5.6M-28.7M-777.3K5.4467.34N/AN/A2211,20337,718150,176
2023-05-18$45.86$47.0016.8%4.7%13.0%0.0%17.5%6.7%1.3%-5.8M-35.0M-763.7K3.7949.70N/AN/A9435637,673150,674
2023-05-19$46.20$47.0017.5%4.9%12.9%3.3%17.6%6.4%1.3%-5.0M-49.7M-723.3K0.8070.95N/AN/A44535537,697150,649
2023-05-22$46.20$47.0018.4%5.0%12.8%7.4%17.3%7.0%-0.8%-5.1M-26.6M-720.0K12.0752.67N/AN/A3036229,04773,629
2023-05-23$45.39$47.0019.0%5.2%12.9%9.8%19.8%7.4%-1.7%-6.1M-8.8M-745.8K11.1057.72N/AN/A971,07729,07673,894
2023-05-24$44.59$47.0022.0%6.0%14.3%23.7%23.2%8.6%-1.1%-6.5M16.3M-800.8K56.0859.69N/AN/A1176,56129,12874,600
2023-05-25$44.72$47.0021.1%6.0%13.3%19.5%22.3%8.3%-0.9%-7.5M16.1M-790.9K30.3550.58N/AN/A1751629,15577,161
2023-05-26$45.34$47.0018.6%5.0%14.3%8.0%16.4%7.8%-1.4%-7.4M-5.2M-738.8K0.4359.57N/AN/A1,51765829,18677,367
2023-05-30$44.84$46.0018.8%5.2%14.8%9.0%20.2%7.4%-0.4%-7.9M6.7M-756.4K0.6071.64N/AN/A63738130,26977,148
2023-05-31$44.09$46.0019.4%5.5%15.2%11.9%18.3%6.9%-0.9%-8.7M28.5M-759.7K24.2849.00N/AN/A1,50736,58430,69177,416