FEZ Options History — August 2025

In August 2025, FEZ traded between $57.14 and $61.34. ATM implied volatility averaged 17.0%, placing in the 16.7% IV rank vs the trailing year. The 30-day expected move averaged 4.7%. IV traded above realized volatility by 0.7% (HV 20d: 16.3%). Max pain ranged from $59.00 to $60.00. Net GEX was positive for 15 of 21 trading days. Term structure was in contango for 12 of 21 days. Put/call ratio averaged 2.23.

Notable Days

  • 2025-08-15: Highest Volume — 42,353 contracts
  • 2025-08-06: Largest IV drop — 40.0% change
  • 2025-08-01: Highest IV Rank — 47.0%
  • 2025-08-01: Largest Expected Move — 6.1%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$59.76$57.14$61.34$57.14$59.81
Max Pain$59.52$59.00$60.00$59.00$60.00
ATM IV17.0%12.1%26.0%26.0%20.4%
Expected Move4.7%4.1%6.1%6.1%4.8%
HV 20d16.3%13.6%17.5%16.7%13.6%
HV 60d14.9%14.5%15.2%14.5%15.1%
IV Rank16.7%0.0%47.0%47.0%28.1%
IV Percentile28.9%0.0%86.9%86.9%63.9%
Term Structure0.7%-5.0%9.8%-1.5%4.3%
VWIV16.9%14.5%20.6%20.6%16.1%
Skew 25d2.6%-4.5%7.1%3.1%0.9%
Skew 10d1.3%-11.2%9.7%7.2%-2.0%
Call IV 25d16.2%9.8%28.6%28.6%23.6%
Put IV 25d18.8%12.0%31.8%31.8%24.5%
Bid-Ask Spread %41.3028.7759.8459.8456.28
Gamma HHI0.240.100.570.100.14
Net GEX20.0M-6.2M70.4M-5.3M-992.9K
Net DEX-51.7M-236.8M52.4M52.4M-587.3K
Net VEX-719.5K-816.5K-670.1K-670.4K-711.6K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio2.230.0112.978.881.03
Total Volume9,898.8124642,3538,563246
Total OI119,958.47683,967158,808123,42689,820

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2025-08-01$57.14$59.0026.0%6.1%16.7%47.0%20.6%3.1%-1.5%-5.3M52.4M-670.4K8.8859.84N/AN/A8677,69648,59874,828
2025-08-04$57.84$59.0017.5%5.1%17.5%18.3%19.1%1.1%-2.1%-6.2M38.1M-684.9K3.9342.35N/AN/A7492,94044,77778,020
2025-08-05$58.03$59.0020.1%5.1%17.0%27.2%18.0%3.1%-0.9%-4.6M26.6M-688.0K5.4243.21N/AN/A1,7109,27045,54878,074
2025-08-06$58.55$59.0012.1%4.9%16.3%0.0%17.4%-1.3%9.8%-906.4K3.6M-734.9K0.1142.19N/AN/A15,6871,76747,09679,642
2025-08-07$59.27$59.0013.6%4.9%17.0%5.0%17.8%5.4%4.1%40.6M-97.1M-816.5K0.0237.23N/AN/A24,78360679,45879,350
2025-08-08$59.53$59.0014.0%4.7%16.6%6.6%15.7%5.0%6.5%22.1M-78.7M-771.5K0.0238.12N/AN/A19,46338662,99579,688
2025-08-11$59.11$59.0017.1%4.9%16.8%16.9%17.5%4.6%0.1%17.8M-36.2M-739.0K1.8539.06N/AN/A23543567,72379,818
2025-08-12$59.61$59.0015.6%4.5%16.7%11.9%15.3%0.5%1.5%32.1M-66.2M-719.1K0.5144.14N/AN/A47424167,79679,931
2025-08-13$60.27$59.0015.0%4.6%17.2%10.0%16.7%-4.5%-0.6%53.5M-128.2M-719.8K0.2637.75N/AN/A4,9431,28768,18480,053
2025-08-14$60.57$59.0015.4%4.3%17.2%11.2%15.1%3.0%-0.4%70.4M-164.4M-711.3K0.0332.60N/AN/A10,17333769,42780,718
2025-08-15$60.94$60.0014.8%4.5%17.1%9.1%14.5%4.6%0.5%67.7M-236.8M-670.1K0.0137.82N/AN/A41,84750673,45681,000
2025-08-18$60.59$60.0016.0%4.6%17.2%13.2%14.6%3.6%-0.9%12.3M-43.8M-725.7K0.0128.77N/AN/A13,04319647,02943,201
2025-08-19$60.72$60.0016.0%4.6%17.2%13.1%15.8%3.4%0.4%35.9M-74.2M-753.4K0.0133.44N/AN/A31,67227866,15043,378
2025-08-20$60.94$60.0015.5%4.4%15.5%11.6%14.8%3.6%-5.0%42.5M-74.7M-751.8K0.0738.90N/AN/A7,19451469,45343,599
2025-08-21$60.41$60.0016.0%4.6%15.3%13.4%18.9%4.1%0.6%10.4M-32.8M-719.9K3.4232.80N/AN/A16757165,61844,015
2025-08-22$61.34$60.0015.6%4.1%16.2%11.8%14.7%3.6%1.2%29.5M-121.9M-714.9K0.3542.73N/AN/A51717965,71344,289
2025-08-25$60.23$60.0017.0%4.7%15.8%16.8%17.4%7.1%-3.0%2.7M-24.7M-688.2K12.9735.74N/AN/A3174,11139,69044,277
2025-08-26$59.94$60.0016.7%4.8%15.8%15.7%20.1%-2.3%0.8%379.1K-8.2M-709.8K2.6438.71N/AN/A36396039,82848,372
2025-08-27$59.89$60.0018.8%4.7%15.4%22.7%16.7%4.8%1.3%-232.7K-6.7M-701.8K3.8848.68N/AN/A7729939,91849,163
2025-08-28$60.19$60.0024.5%4.7%14.6%41.9%18.0%0.8%-1.6%706.1K-12.1M-707.2K1.4856.93N/AN/A31045939,92049,515
2025-08-29$59.81$60.0020.4%4.8%13.6%28.1%16.1%0.9%4.3%-992.9K-587.3K-711.6K1.0356.28N/AN/A12112539,86849,952