FFAI Options History — January 2026

In January 2026, FFAI traded between $1.02 and $1.27. ATM implied volatility averaged 127.7%, placing in the 33.6% IV rank vs the trailing year. The 30-day expected move averaged 35.4%. IV traded above realized volatility by 47.6% (HV 20d: 80.1%). Max pain ranged from $1.00 to $2.50. Net GEX was positive for 10 of 20 trading days. Term structure was in contango for 15 of 20 days. Put/call ratio averaged 0.34.

Notable Days

  • 2026-01-05: Highest Volume — 39,791 contracts
  • 2026-01-15: Largest IV spike — 49.2% change
  • 2026-01-06: Highest IV Rank — 50.9%
  • 2026-01-16: Largest Expected Move — 59.3%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$1.09$1.02$1.27$1.08$1.04
Max Pain$2.02$1.00$2.50$1.00$1.50
ATM IV127.7%92.9%190.1%108.0%105.8%
Expected Move35.4%23.0%59.3%32.3%25.8%
HV 20d80.1%68.7%90.4%77.6%69.0%
HV 60d78.8%75.8%81.6%78.2%75.8%
IV Rank33.6%23.9%50.9%28.1%27.5%
IV Percentile26.8%2.4%82.4%6.3%7.1%
Term Structure39.7%-26.1%229.6%30.3%-1.5%
VWIV128.2%70.0%228.6%108.3%70.0%
Skew 25d-2.1%-302.1%133.7%-20.6%6.9%
Skew 10d4.7%-302.1%292.6%6.6%-5.0%
Call IV 25d145.0%86.0%478.8%134.2%103.4%
Put IV 25d142.9%90.1%235.2%113.6%110.3%
Bid-Ask Spread %44.627.4289.1235.7259.96
Gamma HHI0.460.200.680.370.54
Net GEX9.4K-21.0K61.9K37.9K-12.5K
Net DEX-2.4M-5.1M-320.6K-2.6M-488.7K
Net VEX-12.1K-17.5K-10.2K-13.5K-11.1K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.340.051.550.050.43
Total Volume5,928.251,17439,7919,4302,972
Total OI137,160.666,236193,202186,00985,695

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2026-01-02$1.08$1.00108.0%32.3%77.6%28.1%108.3%-20.6%30.3%37.9K-2.6M-13.5K0.0535.728,979451151,02034,989
2026-01-05$1.21$2.50140.8%42.2%83.1%37.2%171.7%-2.9%-7.4%61.9K-4.7M-17.5K0.067.4237,6032,188148,43833,489
2026-01-06$1.27$2.50190.1%43.2%82.3%50.9%173.0%-8.9%-15.9%54.8K-5.1M-14.8K0.0920.019,886881155,28834,841
2026-01-07$1.25$2.50146.9%44.0%82.6%38.9%153.4%-25.3%48.3%56.7K-4.9M-15.9K0.1226.444,049475156,88335,390
2026-01-08$1.13$2.50129.4%38.3%90.4%34.0%0.0%-302.1%98.3%6.0K-4.4M-10.7K0.0623.813,067193157,33835,679
2026-01-09$1.10$2.50154.3%38.9%89.9%40.9%0.0%-31.7%71.9%3.6K-4.3M-11.2K0.1922.322,809523157,48735,715
2026-01-12$1.10$2.50154.4%38.3%88.6%40.9%0.0%13.3%-8.3%-194-4.1M-10.5K0.3117.023,2781,032144,58733,875
2026-01-13$1.10$2.50129.9%39.8%87.6%34.2%0.0%68.2%51.9%21.1K-3.8M-11.5K0.6521.532,1181,370142,35834,477
2026-01-14$1.08$2.50113.3%36.3%87.9%29.6%163.0%80.9%-26.1%27.3K-2.6M-10.8K0.1721.871,470255143,60934,021
2026-01-15$1.06$2.50169.1%49.9%88.1%45.0%179.6%44.5%19.3%23.6K-2.8M-10.6K0.6226.081,365841141,23434,067
2026-01-16$1.04$2.50161.6%59.3%85.9%43.0%228.6%-1.8%51.8%608-3.3M-10.7K0.1923.112,222413141,89733,847
2026-01-20$1.02$2.50104.8%30.0%78.8%27.2%153.4%133.7%229.6%-2.1K-717.2K-10.8K0.3788.045,6962,09452,16514,071
2026-01-21$1.04$1.50109.6%31.4%79.2%28.6%116.5%1.9%4.2%-3.1K-719.8K-11.3K1.5571.882,6604,12256,64219,567
2026-01-22$1.04$1.5094.9%26.2%71.9%24.5%83.1%55.8%27.2%-17.0K-476.8K-11.8K0.4385.201,90081458,38123,232
2026-01-23$1.02$1.5092.9%26.6%72.0%23.9%92.1%13.2%5.2%-12.3K-416.2K-11.5K0.2162.2197420059,12223,856
2026-01-26$1.06$1.50106.0%29.1%73.8%27.6%99.2%-9.4%80.2%-6.5K-598.9K-12.1K0.1956.084,20480857,40021,578
2026-01-27$1.02$1.50106.5%29.9%74.0%27.7%104.9%-21.9%16.5%-15.9K-501.5K-12.1K0.4258.822,15790759,91022,165
2026-01-28$1.04$1.50105.9%23.0%71.4%27.5%70.2%-12.0%29.7%-15.6K-728.2K-12.4K0.2975.701,50643961,02222,750
2026-01-29$1.02$1.50130.1%24.2%68.7%34.2%84.1%-22.9%87.8%-21.0K-320.6K-10.2K0.3789.121,19944562,06223,065
2026-01-30$1.04$1.50105.8%25.8%69.0%27.5%70.0%6.9%-1.5%-12.5K-488.7K-11.1K0.4359.962,08488862,28823,407