FIZZ Options History — February 2025

In February 2025, FIZZ traded between $38.97 and $41.87. ATM implied volatility averaged 33.7%, placing in the 19.0% IV rank vs the trailing year. The 30-day expected move averaged 9.8%. IV traded above realized volatility by 14.4% (HV 20d: 19.3%). Max pain ranged from $40.00 to $45.00. Net GEX was positive for 4 of 19 trading days. Term structure was in contango for 7 of 19 days. Put/call ratio averaged 2.27.

Notable Days

2025-02-24: Highest Volume — 187 contracts
2025-02-12: Largest IV spike — 40.7% change
2025-02-28: Highest IV Rank — 26.1%
2025-02-28: Largest Expected Move — 11.3%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$40.06	$38.97	$41.87	$41.20	$39.83
Max Pain	$41.32	$40.00	$45.00	$40.00	$40.00
ATM IV	33.7%	25.6%	39.6%	29.0%	39.6%
Expected Move	9.8%	7.3%	11.3%	8.3%	11.3%
HV 20d	19.3%	15.2%	27.0%	19.6%	27.0%
HV 60d	26.3%	25.5%	27.6%	26.4%	27.6%
IV Rank	19.0%	9.3%	26.1%	13.4%	26.1%
IV Percentile	50.2%	8.3%	77.8%	21.8%	77.8%
Term Structure	0.0%	-10.2%	11.9%	2.1%	-4.3%
VWIV	33.4%	25.6%	38.5%	29.1%	38.4%
Skew 25d	8.2%	-1.1%	18.0%	-0.1%	5.4%
Skew 10d	10.4%	-0.3%	23.9%	3.8%	9.0%
Call IV 25d	29.3%	21.0%	38.1%	30.1%	34.0%
Put IV 25d	37.5%	29.1%	44.7%	30.1%	39.4%
Bid-Ask Spread %	91.87	84.22	103.28	89.09	88.65
Gamma HHI	0.57	0.25	0.84	0.40	0.43
Net GEX	-26.7K	-71.0K	14.5K	-8.5K	11.4K
Net DEX	418.4K	-134.3K	757.8K	281.4K	158.1K
Net VEX	-3.0K	-3.6K	-2.6K	-3.2K	-3.4K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	2.27	0.00	17.00	3.00	0.00
Total Volume	26.368	1	187	12	10
Total OI	875.263	672	998	837	797

Daily Data (19 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
2025-02-03	$41.20	$40.00	29.0%	8.3%	19.6%	13.4%	29.1%	-0.1%	2.1%	-8.5K	281.4K	-3.2K	3.00	89.09	N/A	N/A	3	9	480	357
2025-02-04	$40.50	$40.00	28.7%	8.2%	19.4%	13.1%	28.7%	5.6%	11.9%	-24.2K	429.9K	-3.1K	0.17	92.50	N/A	N/A	12	2	482	365
2025-02-05	$40.31	$40.00	25.6%	7.3%	19.3%	9.3%	25.6%	-1.1%	9.0%	-33.6K	450.5K	-3.0K	17.00	103.28	N/A	N/A	1	17	484	366
2025-02-06	$40.01	$45.00	26.9%	9.6%	18.7%	10.9%	0.0%	2.9%	0.1%	-39.3K	515.0K	-3.1K	2.00	94.71	N/A	N/A	1	2	485	383
2025-02-07	$40.11	$45.00	33.7%	9.4%	18.2%	19.0%	35.3%	7.7%	6.4%	-32.6K	515.3K	-3.1K	0.00	86.38	N/A	N/A	0	4	485	383
2025-02-10	$40.30	$45.00	37.2%	10.1%	18.2%	23.2%	0.0%	11.6%	-0.1%	-26.8K	436.4K	-3.0K	2.50	90.90	N/A	N/A	8	20	485	387
2025-02-11	$39.83	$45.00	25.8%	9.7%	15.9%	9.6%	0.0%	13.1%	3.6%	-56.3K	581.0K	-3.0K	6.50	97.30	N/A	N/A	2	13	491	406
2025-02-12	$39.64	$45.00	36.3%	10.4%	15.8%	22.2%	36.4%	4.2%	-2.1%	-44.0K	637.0K	-2.9K	0.00	93.27	N/A	N/A	47	0	491	419
2025-02-13	$39.48	$40.00	31.3%	9.0%	15.2%	16.2%	0.0%	3.2%	-2.2%	-52.2K	595.7K	-2.9K	0.00	95.83	N/A	N/A	0	1	558	419
2025-02-14	$39.49	$40.00	30.5%	8.7%	15.2%	15.2%	30.4%	11.3%	2.7%	-57.4K	644.0K	-2.9K	0.00	90.92	N/A	N/A	0	5	558	420
2025-02-18	$38.97	$40.00	36.4%	10.4%	15.6%	22.3%	35.8%	13.3%	-0.9%	-51.1K	723.9K	-2.8K	0.17	85.39	N/A	N/A	12	2	558	422
2025-02-19	$39.30	$40.00	36.0%	10.3%	15.8%	21.8%	34.6%	16.1%	-3.2%	-71.0K	757.8K	-2.6K	3.00	95.33	N/A	N/A	2	6	568	424
2025-02-20	$39.10	$40.00	33.6%	9.6%	15.8%	18.9%	0.0%	13.4%	-1.2%	-55.2K	754.3K	-2.6K	0.17	94.19	N/A	N/A	6	1	570	426
2025-02-21	$40.66	$40.00	33.5%	9.6%	21.5%	18.8%	33.7%	11.0%	-0.1%	-1.5K	151.1K	-2.8K	0.04	103.04	N/A	N/A	47	2	572	426
2025-02-24	$41.04	$40.00	38.6%	11.1%	21.5%	24.9%	30.5%	13.4%	-10.2%	-1.5K	168.3K	-2.8K	0.02	84.22	N/A	N/A	184	3	379	293
2025-02-25	$41.87	$40.00	39.0%	11.2%	21.6%	25.4%	36.9%	18.0%	-3.3%	14.5K	-134.3K	-3.6K	0.04	87.59	N/A	N/A	52	2	432	296
2025-02-26	$40.29	$40.00	38.4%	11.0%	25.2%	24.7%	38.5%	7.9%	-2.6%	13.1K	83.3K	-3.4K	1.50	87.86	N/A	N/A	4	6	478	298
2025-02-27	$39.30	$40.00	39.4%	11.3%	26.4%	25.9%	38.4%	-0.4%	-5.0%	9.5K	200.8K	-3.3K	0.15	84.99	N/A	N/A	13	2	482	305
2025-02-28	$39.83	$40.00	39.6%	11.3%	27.0%	26.1%	0.0%	5.4%	-4.3%	11.4K	158.1K	-3.4K	0.00	88.65	N/A	N/A	10	0	491	306