FEZ Options History — December 2025

In December 2025, FEZ traded between $63.05 and $64.95. ATM implied volatility averaged 15.3%, placing in the 16.1% IV rank vs the trailing year. The 30-day expected move averaged 4.0%. IV traded above realized volatility by 2.4% (HV 20d: 12.9%). Max pain ranged from $59.00 to $64.00. Net GEX was positive for 5 of 22 trading days. Term structure was in contango for 10 of 22 days. Put/call ratio averaged 1.68.

Notable Days

  • 2025-12-08: Highest Volume — 28,186 contracts
  • 2025-12-24: Largest IV spike — 49.1% change
  • 2025-12-10: Highest IV Rank — 32.2%
  • 2025-12-01: Largest Expected Move — 4.7%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$64.22$63.05$64.95$63.05$64.52
Max Pain$63.05$59.00$64.00$62.00$64.00
ATM IV15.3%11.5%20.4%19.2%17.1%
Expected Move4.0%3.5%4.7%4.7%4.0%
HV 20d12.9%9.4%15.8%15.7%10.0%
HV 60d12.9%12.6%13.2%13.0%12.7%
IV Rank16.1%3.8%32.2%28.6%21.8%
IV Percentile23.9%0.8%71.0%57.5%44.0%
Term Structure1.2%-3.7%10.9%-0.9%-1.2%
VWIV14.8%11.7%19.9%16.0%13.4%
Skew 25d3.0%-4.6%10.1%6.4%4.6%
Skew 10d4.0%-2.7%11.7%4.9%2.7%
Call IV 25d13.6%9.7%22.5%14.2%18.0%
Put IV 25d16.6%8.2%24.3%20.6%22.5%
Bid-Ask Spread %56.5145.7673.2646.2473.26
Gamma HHI0.230.120.390.140.22
Net GEX-3.3M-10.7M9.2M-1.2M1.0M
Net DEX-26.6M-51.8M10.8M-33.0M-18.5M
Net VEX-491.1K-601.9K-413.3K-483.5K-448.1K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.680.0011.882.470.11
Total Volume4,405.2734628,186104880
Total OI86,187.31865,691109,54165,94399,335

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2025-12-01$63.05$62.0019.2%4.7%15.7%28.6%16.0%6.4%-0.9%-1.2M-33.0M-483.5K2.4746.24N/AN/A307420,01845,925
2025-12-02$63.50$62.0014.2%4.4%15.8%12.4%15.7%-4.6%2.2%-863.3K-40.2M-467.2K0.1447.47N/AN/A3054220,03345,930
2025-12-03$63.91$62.0015.5%4.3%15.3%16.6%14.5%1.5%1.7%-323.0K-46.7M-457.6K0.1445.76N/AN/A2092920,30745,936
2025-12-04$63.74$59.0014.2%4.1%15.1%12.5%15.9%-1.4%-0.4%-426.3K-44.6M-460.2K0.2946.70N/AN/A76822620,19645,938
2025-12-05$63.80$59.0016.2%4.0%14.9%18.9%13.6%-1.4%5.5%-80.4K-48.7M-437.5K0.1453.77N/AN/A5037020,16645,739
2025-12-08$63.75$59.0018.3%4.3%14.9%25.5%16.3%9.7%1.9%-136.1K-50.4M-413.3K11.8849.26N/AN/A2,18825,99819,93345,758
2025-12-09$63.64$64.0015.4%4.2%14.1%16.5%16.4%0.8%-0.6%-8.6M3.3M-601.9K4.0049.85N/AN/A2641,05721,58669,427
2025-12-10$64.31$64.0020.4%4.2%14.2%32.2%16.3%1.7%-3.7%-8.3M-17.2M-577.3K1.9758.65N/AN/A6613021,82570,390
2025-12-11$64.95$64.0012.6%3.9%14.2%7.3%14.3%-1.5%2.2%-6.9M-42.0M-511.5K0.3556.38N/AN/A28510121,80570,371
2025-12-12$64.41$64.0011.5%4.1%14.3%3.8%15.2%-2.3%4.1%-8.3M-23.8M-543.1K0.5258.58N/AN/A38019621,81270,419
2025-12-15$64.73$64.0013.1%3.9%14.0%8.9%15.1%3.8%-0.5%-7.8M-33.7M-530.5K0.8860.62N/AN/A77267822,08870,453
2025-12-16$64.63$64.0013.6%3.8%12.2%10.6%13.7%3.7%3.8%-7.8M-33.9M-512.1K0.1359.85N/AN/A5,87078922,35670,576
2025-12-17$63.88$64.0014.3%4.1%12.3%12.8%15.2%3.6%8.4%-5.1M-14.2M-541.2K0.9356.26N/AN/A53749827,82070,333
2025-12-18$64.41$64.0014.2%4.1%12.4%12.4%15.2%3.5%-0.2%1.1M-34.4M-514.9K3.8550.21N/AN/A3021,16227,87470,376
2025-12-19$64.68$64.0014.2%3.6%11.0%12.4%13.0%2.7%10.9%7.0M-50.3M-488.8K0.0559.59N/AN/A5682727,99971,106
2025-12-22$64.22$64.0017.0%3.6%11.4%21.4%16.9%5.1%1.5%-10.7M10.8M-478.8K0.6955.29N/AN/A19713614,99168,621
2025-12-23$64.41$64.0013.6%3.6%11.4%10.6%13.4%10.1%-0.3%-9.6M1.9M-448.3K2.5661.49N/AN/A8512,17515,01668,730
2025-12-24$64.47$64.0020.3%3.5%10.4%31.9%12.2%8.5%-3.1%-9.9M1.2M-450.6K0.7760.62N/AN/A262015,00468,039
2025-12-26$64.69$64.0012.3%3.8%9.4%6.6%11.7%6.2%-1.1%-9.5M-3.5M-436.1K0.0061.81N/AN/A26,6803615,02168,038
2025-12-29$64.31$64.0014.9%3.9%9.8%14.7%19.9%1.0%-0.7%3.6M-15.2M-507.6K5.0158.91N/AN/A4122,06641,24868,042
2025-12-30$64.81$64.0015.1%3.8%10.0%15.4%12.3%4.5%-2.6%9.2M-51.8M-494.5K0.0172.61N/AN/A19,11220141,53168,010
2025-12-31$64.52$64.0017.1%4.0%10.0%21.8%13.4%4.6%-1.2%1.0M-18.5M-448.1K0.1173.26N/AN/A7928831,25068,085