FFAI Options History — October 2025

In October 2025, FFAI traded between $1.33 and $1.63. ATM implied volatility averaged 145.4%, placing in the 38.5% IV rank vs the trailing year. The 30-day expected move averaged 44.8%. IV traded above realized volatility by 52.5% (HV 20d: 92.9%). Max pain ranged from $2.50 to $2.50. Net GEX was positive for 23 of 23 trading days. Term structure was in contango for 17 of 23 days. Put/call ratio averaged 0.18.

Notable Days

2025-10-16: Highest Volume — 44,469 contracts
2025-10-14: Largest IV spike — 68.4% change
2025-10-14: Highest IV Rank — 55.6%
2025-10-27: Largest Expected Move — 54.4%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$1.44	$1.33	$1.63	$1.33	$1.37
Max Pain	$2.50	$2.50	$2.50	$2.50	$2.50
ATM IV	145.4%	95.3%	207.3%	103.2%	146.8%
Expected Move	44.8%	34.8%	54.4%	42.9%	44.1%
HV 20d	92.9%	81.8%	100.3%	89.7%	81.8%
HV 60d	114.1%	91.6%	137.4%	136.1%	91.6%
IV Rank	38.5%	24.6%	55.6%	26.8%	38.9%
IV Percentile	45.4%	3.9%	95.6%	4.7%	43.6%
Term Structure	12.3%	-55.8%	71.0%	10.6%	57.9%
VWIV	164.5%	129.1%	184.3%	147.3%	151.5%
Skew 25d	-43.4%	-73.1%	57.2%	-34.3%	-61.5%
Skew 10d	-59.2%	-241.1%	47.8%	-45.5%	-109.1%
Call IV 25d	160.4%	115.5%	199.6%	155.5%	155.2%
Put IV 25d	117.1%	77.1%	192.9%	121.2%	93.6%
Bid-Ask Spread %	37.16	3.13	92.90	46.23	36.01
Gamma HHI	0.22	0.18	0.32	0.22	0.26
Net GEX	58.8K	40.6K	81.3K	47.9K	40.6K
Net DEX	-4.8M	-6.4M	-3.2M	-3.3M	-4.2M
Net VEX	-30.7K	-36.0K	-24.3K	-29.3K	-24.7K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.18	0.02	0.74	0.08	0.18
Total Volume	10,771.174	2,647	44,469	5,078	5,138
Total OI	188,239.304	172,975	210,237	172,975	196,395

Daily Data (23 trading days)

Date	Price	Max Pain	ATM IV	Exp Move	HV 20d	IV Rank	VWIV	Skew 25d	Term Str	GEX	DEX	VEX	P/C	Spread %	Call Wall	Put Wall	Call Vol	Put Vol	Call OI	Put OI
2025-10-01	$1.33	$2.50	103.2%	42.9%	89.7%	26.8%	147.3%	-34.3%	10.6%	47.9K	-3.3M	-29.3K	0.08	46.23	N/A	N/A	4,716	362	140,778	32,197
2025-10-02	$1.40	$2.50	114.7%	39.9%	90.5%	30.0%	137.0%	-45.6%	12.0%	53.3K	-4.0M	-31.4K	0.07	15.92	N/A	N/A	8,937	583	142,663	32,238
2025-10-03	$1.54	$2.50	95.3%	34.8%	98.1%	24.6%	129.1%	-32.9%	3.8%	70.4K	-5.9M	-33.8K	0.22	10.69	N/A	N/A	15,440	3,451	147,483	32,511
2025-10-06	$1.63	$2.50	102.0%	43.2%	100.3%	26.4%	155.8%	-70.3%	8.0%	74.0K	-6.4M	-36.0K	0.13	10.88	N/A	N/A	11,126	1,399	140,650	33,803
2025-10-07	$1.48	$2.50	105.4%	46.1%	99.7%	27.4%	160.9%	-48.5%	5.9%	60.5K	-4.8M	-33.4K	0.12	3.13	N/A	N/A	10,834	1,298	145,756	34,301
2025-10-08	$1.52	$2.50	100.0%	45.0%	98.9%	25.9%	157.3%	-73.1%	-3.4%	62.6K	-5.5M	-35.6K	0.05	11.81	N/A	N/A	4,123	209	150,866	35,183
2025-10-09	$1.42	$2.50	119.9%	49.3%	90.8%	31.4%	172.4%	-72.6%	13.7%	53.0K	-4.2M	-33.4K	0.19	7.39	N/A	N/A	4,423	840	153,147	35,198
2025-10-10	$1.35	$2.50	135.2%	41.7%	88.8%	35.7%	169.4%	-19.8%	36.9%	49.9K	-4.3M	-32.2K	0.16	25.42	N/A	N/A	6,059	952	154,756	35,559
2025-10-13	$1.48	$2.50	123.1%	38.6%	96.2%	32.3%	158.7%	32.7%	71.0%	65.3K	-5.3M	-32.7K	0.02	13.69	N/A	N/A	26,447	433	147,171	33,589
2025-10-14	$1.48	$2.50	207.3%	53.6%	96.2%	55.6%	180.5%	57.2%	-30.6%	74.6K	-5.4M	-29.7K	0.06	34.18	N/A	N/A	10,367	652	157,229	33,756
2025-10-15	$1.46	$2.50	156.7%	47.9%	96.2%	41.6%	171.0%	-42.9%	17.3%	81.3K	-5.8M	-33.3K	0.74	6.10	N/A	N/A	4,387	3,240	155,762	34,239
2025-10-16	$1.42	$2.50	190.3%	48.6%	96.4%	50.9%	180.7%	-64.9%	-4.7%	57.0K	-4.2M	-30.4K	0.17	30.71	N/A	N/A	38,161	6,308	155,556	36,326
2025-10-17	$1.35	$2.50	169.9%	49.2%	94.2%	45.3%	180.9%	-33.9%	13.0%	58.8K	-3.2M	-28.1K	0.74	56.74	N/A	N/A	8,891	6,540	169,663	40,574
2025-10-20	$1.44	$2.50	166.2%	49.6%	94.4%	44.2%	164.5%	-52.2%	10.4%	63.9K	-5.2M	-30.5K	0.08	7.70	N/A	N/A	5,023	424	155,194	34,455
2025-10-21	$1.38	$2.50	165.7%	47.1%	95.2%	44.1%	184.3%	-68.7%	7.1%	51.2K	-5.5M	-32.2K	0.04	59.77	N/A	N/A	5,345	216	157,375	34,646
2025-10-22	$1.38	$2.50	140.1%	40.2%	95.0%	37.0%	159.5%	-31.8%	17.1%	51.7K	-4.0M	-28.6K	0.30	92.90	N/A	N/A	2,622	777	159,093	34,782
2025-10-23	$1.40	$2.50	141.5%	40.7%	89.6%	37.4%	174.9%	-69.9%	-17.8%	50.6K	-4.6M	-28.9K	0.19	75.39	N/A	N/A	5,151	997	160,158	34,877
2025-10-24	$1.48	$2.50	136.1%	36.0%	86.7%	35.9%	173.9%	-56.4%	14.4%	53.0K	-4.7M	-28.6K	0.12	65.68	N/A	N/A	7,844	974	162,152	35,368
2025-10-27	$1.54	$2.50	146.9%	54.4%	87.0%	38.9%	171.9%	-69.4%	-16.3%	65.2K	-5.5M	-28.8K	0.21	45.50	N/A	N/A	9,724	2,079	147,129	34,525
2025-10-28	$1.42	$2.50	180.4%	50.2%	90.7%	48.2%	173.3%	-49.8%	-55.8%	63.2K	-5.5M	-32.1K	0.08	61.20	N/A	N/A	5,537	423	152,700	35,143
2025-10-29	$1.37	$2.50	202.3%	49.5%	91.3%	54.2%	0.0%	-59.9%	55.0%	63.7K	-4.8M	-28.9K	0.11	74.00	N/A	N/A	11,428	1,210	153,566	35,351
2025-10-30	$1.37	$2.50	195.8%	38.3%	89.3%	52.4%	164.6%	-28.7%	57.2%	41.3K	-4.2M	-24.3K	0.09	63.66	N/A	N/A	2,428	219	159,942	35,699
2025-10-31	$1.37	$2.50	146.8%	44.1%	81.8%	38.9%	151.5%	-61.5%	57.9%	40.6K	-4.2M	-24.7K	0.18	36.01	N/A	N/A	4,366	772	160,594	35,801