FIZZ Options History — November 2025

In November 2025, FIZZ traded between $32.59 and $34.55. ATM implied volatility averaged 37.5%, placing in the 29.6% IV rank vs the trailing year. The 30-day expected move averaged 10.1%. IV traded above realized volatility by 3.6% (HV 20d: 33.9%). Max pain ranged from $35.00 to $40.00. Net GEX was positive for 19 of 19 trading days. Term structure was in contango for 9 of 19 days. Put/call ratio averaged 0.19.

Notable Days

2025-11-14: Highest Volume — 610 contracts
2025-11-10: Largest IV spike — 87.0% change
2025-11-28: Highest IV Rank — 57.5%
2025-11-28: Largest Expected Move — 13.6%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$33.39	$32.59	$34.55	$33.14	$33.77
Max Pain	$35.79	$35.00	$40.00	$40.00	$35.00
ATM IV	37.5%	25.9%	56.0%	40.1%	47.3%
Expected Move	10.1%	6.6%	13.6%	11.5%	13.6%
HV 20d	33.9%	30.6%	37.6%	32.2%	30.6%
HV 60d	28.7%	25.1%	31.1%	30.9%	27.1%
IV Rank	29.6%	10.2%	57.5%	25.7%	57.5%
IV Percentile	63.3%	11.9%	97.2%	81.3%	94.8%
Term Structure	-0.5%	-20.4%	14.8%	5.6%	-8.8%
VWIV	40.1%	21.7%	54.3%	45.0%	31.6%
Skew 25d	13.2%	-2.3%	34.4%	-2.3%	8.6%
Skew 10d	16.4%	-3.6%	39.7%	0.3%	19.9%
Call IV 25d	33.9%	22.0%	45.2%	38.8%	45.2%
Put IV 25d	47.1%	25.8%	69.7%	36.5%	53.7%
Bid-Ask Spread %	109.42	86.76	118.63	118.63	115.44
Gamma HHI	0.45	0.32	0.69	0.32	0.59
Net GEX	18.2K	106	43.6K	5.9K	43.6K
Net DEX	-79.1K	-471.2K	145.7K	64.2K	-471.2K
Net VEX	-3.1K	-4.5K	-2.2K	-2.7K	-4.1K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.19	0.00	1.00	0.02	0.00
Total Volume	49.789	0	610	50	3
Total OI	1,330.579	1,041	1,687	1,041	1,527

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
2025-11-03	$33.14	$40.00	40.1%	11.5%	32.2%	25.7%	45.0%	-2.3%	5.6%	5.9K	64.2K	-2.7K	0.02	118.63	N/A	N/A	49	1	733	308
2025-11-04	$33.42	$40.00	38.6%	11.1%	32.4%	23.9%	0.0%	0.7%	5.1%	2.6K	97.5K	-2.4K	0.00	98.11	N/A	N/A	0	0	779	309
2025-11-05	$33.50	$40.00	27.4%	7.8%	32.3%	10.2%	21.7%	3.9%	14.8%	2.3K	136.5K	-2.2K	1.00	86.76	N/A	N/A	2	2	779	309
2025-11-06	$32.78	$35.00	43.2%	9.4%	32.5%	29.5%	0.0%	10.4%	-0.4%	1.3K	118.3K	-2.5K	0.00	115.82	N/A	N/A	0	1	779	309
2025-11-07	$32.80	$35.00	30.0%	10.6%	32.6%	13.4%	42.9%	-0.9%	-2.6%	106	145.7K	-2.3K	0.00	102.32	N/A	N/A	12	0	779	309
2025-11-10	$32.84	$35.00	56.0%	6.6%	31.5%	45.1%	54.3%	22.4%	1.5%	2.9K	106.3K	-2.5K	0.00	116.57	N/A	N/A	0	1	786	309
2025-11-11	$33.63	$35.00	41.8%	11.1%	33.1%	27.7%	39.0%	9.6%	-0.5%	785	104.0K	-2.2K	0.00	105.42	N/A	N/A	9	0	786	310
2025-11-12	$33.12	$35.00	32.8%	9.4%	33.3%	16.8%	0.0%	20.6%	-8.9%	4.8K	83.6K	-2.6K	0.00	115.41	N/A	N/A	6	0	784	310
2025-11-13	$32.73	$35.00	35.9%	10.3%	32.9%	20.6%	0.0%	15.7%	7.2%	3.4K	107.5K	-2.5K	0.00	118.35	N/A	N/A	0	0	786	310
2025-11-14	$33.19	$35.00	33.8%	9.7%	33.6%	21.0%	0.0%	11.9%	1.4%	1.1K	138.6K	-2.2K	0.00	101.33	N/A	N/A	610	0	786	310
2025-11-17	$32.59	$35.00	34.6%	9.9%	33.7%	31.7%	36.1%	31.4%	-2.4%	24.7K	-147.6K	-4.1K	0.67	111.74	N/A	N/A	9	6	1,371	310
2025-11-18	$33.62	$35.00	44.2%	12.7%	36.1%	51.2%	0.0%	34.4%	-20.4%	34.1K	-220.4K	-4.3K	0.00	111.55	N/A	N/A	0	0	1,377	310
2025-11-19	$33.22	$35.00	37.5%	10.8%	36.2%	37.6%	0.0%	4.8%	-10.9%	39.3K	-321.3K	-4.5K	0.00	114.78	N/A	N/A	0	20	1,377	310
2025-11-20	$33.69	$35.00	28.4%	8.1%	36.8%	19.2%	0.0%	6.2%	-4.7%	22.2K	-88.9K	-2.9K	0.02	116.55	N/A	N/A	147	3	1,377	294
2025-11-21	$34.36	$35.00	45.3%	13.0%	37.6%	53.4%	0.0%	30.1%	-8.4%	43.6K	-413.9K	-4.4K	0.60	115.46	N/A	N/A	5	3	1,364	287
2025-11-24	$33.43	$35.00	39.7%	11.4%	37.2%	42.1%	50.7%	21.1%	8.5%	34.4K	-237.4K	-3.4K	0.07	109.48	N/A	N/A	14	1	1,251	235
2025-11-25	$34.10	$35.00	25.9%	7.4%	37.1%	14.0%	31.6%	12.5%	9.3%	38.4K	-313.4K	-3.6K	0.03	100.96	N/A	N/A	35	1	1,264	235
2025-11-26	$34.55	$35.00	29.8%	8.5%	32.6%	22.0%	0.0%	9.6%	4.8%	40.9K	-391.1K	-3.7K	0.00	104.34	N/A	N/A	6	0	1,286	236
2025-11-28	$33.77	$35.00	47.3%	13.6%	30.6%	57.5%	0.0%	8.6%	-8.8%	43.6K	-471.2K	-4.1K	0.00	115.44	N/A	N/A	3	0	1,291	236