FEZ Options History — May 2025

In May 2025, FEZ traded between $56.55 and $59.75. ATM implied volatility averaged 18.2%, placing in the 20.0% IV rank vs the trailing year. The 30-day expected move averaged 5.1%. IV traded below realized volatility by 2.4% (HV 20d: 20.5%). Max pain ranged from $53.00 to $59.50. Net GEX was positive for 4 of 21 trading days. Term structure was in contango for 12 of 21 days. Put/call ratio averaged 2.02.

Notable Days

  • 2025-05-16: Highest Volume — 38,750 contracts
  • 2025-05-07: Largest IV spike — 38.3% change
  • 2025-05-02: Highest IV Rank — 47.2%
  • 2025-05-07: Largest Expected Move — 6.0%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$58.47$56.55$59.75$56.55$59.20
Max Pain$57.93$53.00$59.50$53.00$59.50
ATM IV18.2%14.1%26.1%21.2%21.4%
Expected Move5.1%4.4%6.0%5.8%5.1%
HV 20d20.5%8.7%49.5%49.5%11.9%
HV 60d32.0%31.1%32.5%32.4%31.1%
IV Rank20.0%5.9%47.2%30.3%30.7%
IV Percentile32.7%3.2%84.5%58.7%60.7%
Term Structure-0.2%-10.0%7.7%2.0%-3.4%
VWIV18.5%15.2%24.5%20.3%18.3%
Skew 25d2.5%-12.4%11.3%5.4%9.7%
Skew 10d1.8%-12.9%15.6%11.0%-2.4%
Call IV 25d17.2%11.8%25.1%18.8%17.3%
Put IV 25d19.6%10.1%27.0%24.2%27.0%
Bid-Ask Spread %34.5328.7154.4754.4743.88
Gamma HHI0.130.100.230.110.11
Net GEX-106.6K-2.5M8.8M-2.1M-584.6K
Net DEX-59.3M-112.5M-13.9M-40.4M-34.1M
Net VEX-665.2K-815.7K-491.0K-715.8K-737.1K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio2.020.1310.651.900.80
Total Volume4,395.28636538,7509733,652
Total OI139,690.381106,835157,213135,740157,213

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2025-05-01$56.55$53.0021.2%5.8%49.5%30.3%20.3%5.4%2.0%-2.1M-40.4M-715.8K1.9054.47N/AN/A33563834,207101,533
2025-05-02$57.41$53.0026.1%5.2%48.7%47.2%19.6%-6.8%-10.0%-1.0M-67.8M-676.5K0.7543.68N/AN/A20915634,396101,773
2025-05-05$57.59$58.0020.7%5.5%43.9%28.8%19.4%5.2%-0.4%-1.0M-70.4M-656.1K1.3633.35N/AN/A29239633,998101,631
2025-05-06$57.55$58.0016.5%5.6%40.8%14.5%22.4%4.7%7.7%-1.2M-67.2M-650.4K3.6129.92N/AN/A23885934,016101,799
2025-05-07$57.26$58.0022.9%6.0%39.5%36.1%24.5%2.6%2.3%-1.4M-59.8M-661.5K10.6537.06N/AN/A5535,89134,125101,984
2025-05-08$57.38$58.0020.2%5.8%21.2%27.0%23.5%11.3%-5.2%-1.9M-59.1M-665.1K0.5830.16N/AN/A1,23471134,388107,196
2025-05-09$57.67$58.0018.0%5.5%17.0%19.5%19.0%0.5%-2.6%-1.4M-71.3M-640.2K0.4131.34N/AN/A71129234,566107,298
2025-05-12$57.88$58.0015.9%4.9%14.5%12.3%18.3%5.7%2.8%-1.1M-84.6M-580.3K1.1829.86N/AN/A22726834,373106,954
2025-05-13$58.53$58.0015.7%4.5%14.6%11.6%16.1%3.7%1.1%-988.9K-101.8M-543.6K1.5929.73N/AN/A47475533,950107,294
2025-05-14$58.34$58.0017.0%4.8%14.8%16.0%17.8%0.1%0.2%-2.2M-94.8M-556.0K0.4928.71N/AN/A68133133,965107,700
2025-05-15$58.59$58.0015.2%4.4%14.4%9.8%17.4%-12.4%-5.1%-1.3M-103.7M-523.9K2.8230.35N/AN/A12435034,168107,934
2025-05-16$58.77$58.0015.9%4.4%14.3%12.4%16.8%-2.9%2.1%-1.9M-112.5M-491.0K7.6232.43N/AN/A4,49634,25434,192108,041
2025-05-19$59.40$58.0015.8%4.5%12.7%12.0%16.4%4.3%-4.7%-315.5K-33.4M-605.8K0.3343.60N/AN/A2,18871422,67585,882
2025-05-20$59.75$58.0015.9%4.5%9.6%12.3%15.2%3.7%-7.6%-1.5M-28.1M-641.1K0.1329.74N/AN/A2,48633420,95885,877
2025-05-21$59.55$58.0017.5%5.0%9.8%17.9%16.5%4.8%0.2%6.6M-49.9M-774.2K0.9729.60N/AN/A2,4342,35851,26286,141
2025-05-22$59.53$59.0017.3%4.8%8.7%17.0%16.6%4.4%4.0%8.8M-47.0M-795.7K0.7135.15N/AN/A2,1171,50653,28187,983
2025-05-23$58.78$59.5019.4%5.6%10.2%24.0%20.1%6.3%-1.6%1.8M-13.9M-815.7K3.4932.62N/AN/A3,31611,55955,21989,437
2025-05-27$59.72$59.5016.9%5.1%11.3%15.4%15.9%2.9%5.5%3.0M-51.3M-743.5K0.5934.30N/AN/A1,31477653,89699,873
2025-05-28$59.08$59.5014.1%5.1%12.2%5.9%17.1%-0.8%3.2%-2.5M-18.4M-747.0K2.2934.23N/AN/A6931,59054,815100,515
2025-05-29$59.30$59.5018.0%5.0%11.9%19.1%18.2%-0.5%5.5%-162.7K-35.7M-748.2K0.2530.85N/AN/A63315655,377101,613
2025-05-30$59.20$59.5021.4%5.1%11.9%30.7%18.3%9.7%-3.4%-584.6K-34.1M-737.1K0.8043.88N/AN/A2,0311,62155,612101,601