FIZZ Options History — September 2025

In September 2025, FIZZ traded between $36.66 and $41.27. ATM implied volatility averaged 33.8%, placing in the 18.0% IV rank vs the trailing year. The 30-day expected move averaged 9.2%. IV traded above realized volatility by 1.4% (HV 20d: 32.4%). Max pain ranged from $40.00 to $45.00. Net GEX was positive for 8 of 21 trading days. Term structure was in contango for 8 of 21 days. Put/call ratio averaged 5.51.

Notable Days

  • 2025-09-12: Highest Volume — 679 contracts
  • 2025-09-29: Largest IV drop — 36.9% change
  • 2025-09-09: Highest IV Rank — 32.7%
  • 2025-09-03: Largest Expected Move — 11.2%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$38.70$36.66$41.27$41.27$36.86
Max Pain$41.19$40.00$45.00$40.00$40.00
ATM IV33.8%21.7%45.9%30.1%28.3%
Expected Move9.2%6.2%11.2%8.6%8.1%
HV 20d32.4%17.0%39.8%39.1%17.5%
HV 60d31.6%28.3%33.1%32.4%28.3%
IV Rank18.0%3.4%32.7%13.5%11.4%
IV Percentile53.4%1.6%94.4%36.9%25.0%
Term Structure0.4%-6.2%12.2%-3.6%-3.4%
VWIV30.6%22.3%37.9%25.9%22.3%
Skew 25d3.2%-9.4%20.1%-9.4%3.6%
Skew 10d4.2%-12.1%19.0%-9.4%10.2%
Call IV 25d29.5%16.7%37.6%33.5%20.6%
Put IV 25d32.7%21.5%41.5%24.1%24.2%
Bid-Ask Spread %86.3567.3897.0996.8087.58
Gamma HHI0.680.320.940.940.35
Net GEX-161.4K-393.4K27.4K-280.5K18.4K
Net DEX1.9M-57.7K4.3M1.9M88.3K
Net VEX-4.5K-6.7K-2.5K-6.6K-2.5K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio5.510.0426.672.864.00
Total Volume179.0950679270
Total OI2,075.5719963,1872,1811,153

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2025-09-02$41.27$40.0030.1%8.6%39.1%13.5%25.9%-9.4%-3.6%-280.5K1.9M-6.6K2.8696.80N/AN/A7205231,658
2025-09-03$41.13$40.0039.1%11.2%38.8%24.5%36.6%1.2%-6.2%-266.8K2.0M-6.6K0.4791.43N/AN/A45215231,668
2025-09-04$40.97$45.0040.6%9.4%38.7%26.2%25.0%-0.3%0.9%-274.2K2.2M-6.7K4.0694.70N/AN/A16655601,677
2025-09-05$40.00$45.0042.7%9.5%38.9%28.8%32.8%-7.0%1.0%-286.5K2.8M-6.5K4.8097.09N/AN/A10485711,736
2025-09-08$39.67$45.0044.1%9.9%38.9%30.6%33.0%4.9%-1.8%-315.8K3.3M-5.8K17.9483.39N/AN/A356285801,777
2025-09-09$39.41$45.0045.9%10.1%38.8%32.7%0.0%11.6%-0.6%-289.2K3.2M-5.7K26.6787.98N/AN/A3806001,714
2025-09-10$39.19$45.0034.4%9.9%38.5%18.7%34.5%5.8%-1.2%-297.9K3.3M-5.3K1.5167.38N/AN/A2183296011,715
2025-09-11$40.14$40.0037.6%10.8%39.8%22.6%37.9%3.1%-2.6%-254.9K2.4M-6.5K0.6990.62N/AN/A3942737971,786
2025-09-12$39.47$40.0029.8%8.5%38.3%13.2%34.2%5.1%1.4%-393.4K2.9M-6.1K1.9186.29N/AN/A2334461,0931,912
2025-09-15$38.58$40.0030.4%8.7%38.7%13.9%30.9%13.0%0.9%-276.5K4.3M-4.3K1.0492.59N/AN/A1221271,2711,874
2025-09-16$38.61$40.0030.4%8.7%38.8%13.9%30.6%6.1%0.2%-273.0K4.0M-4.4K1.6370.99N/AN/A711161,3421,825
2025-09-17$38.55$40.0030.2%8.7%38.7%13.7%30.1%5.1%-0.6%-254.2K3.9M-4.3K25.1184.52N/AN/A92261,3811,806
2025-09-18$38.69$40.0030.0%8.6%38.9%13.4%25.8%-4.7%-0.4%-93.1K3.8M-3.6K0.3390.91N/AN/A621,3811,583
2025-09-19$38.02$40.0029.7%8.5%38.7%13.0%29.4%3.8%-0.9%27.4K644.9K-3.1K1.0584.05N/AN/A19201,386692
2025-09-22$37.66$40.0028.7%8.2%31.6%11.8%27.6%-8.1%-0.2%24.9K-57.7K-2.7K0.9396.39N/AN/A1413806190
2025-09-23$37.15$40.0030.5%8.7%17.1%14.0%30.5%8.8%10.2%19.4K-262-2.8K0.0982.59N/AN/A111816202
2025-09-24$36.69$40.0035.6%10.2%17.0%20.2%29.9%20.1%7.2%19.0K23.5K-2.7K14.6783.02N/AN/A344826202
2025-09-25$36.66$40.0034.9%10.0%17.1%19.4%32.5%6.2%-2.8%16.0K70.8K-2.6K0.0481.37N/AN/A482826246
2025-09-26$36.94$40.0034.4%9.9%17.9%18.8%31.8%4.0%-0.4%22.2K29.3K-2.7K0.4886.07N/AN/A2110893246
2025-09-29$37.00$40.0021.7%6.2%18.0%3.4%22.3%-6.2%12.2%20.3K51.6K-2.7K4.0077.59N/AN/A14893256
2025-09-30$36.86$40.0028.3%8.1%17.5%11.4%0.0%3.6%-3.4%18.4K88.3K-2.5K0.0087.58N/AN/A00893260