FN Options History — December 2018

In December 2018, FN traded between $46.97 and $53.27. ATM implied volatility averaged 42.8%, placing in the 34.8% IV rank vs the trailing year. The 30-day expected move averaged 12.0%. IV traded below realized volatility by 0.5% (HV 20d: 43.3%). Max pain ranged from $40.00 to $50.00. Net GEX was positive for 11 of 20 trading days. Term structure was in contango for 16 of 20 days. Put/call ratio averaged 1.19.

Notable Days

2018-12-24: Highest Volume — 243 contracts
2018-12-12: Largest IV drop — 15.8% change
2018-12-10: Highest IV Rank — 43.8%
2018-12-24: Largest Expected Move — 13.6%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$49.67	$46.97	$53.27	$53.27	$51.21
Max Pain	$41.50	$40.00	$50.00	$50.00	$40.00
ATM IV	42.8%	37.1%	47.6%	37.1%	43.9%
Expected Move	12.0%	10.6%	13.6%	10.6%	12.6%
HV 20d	43.3%	37.6%	50.6%	50.4%	47.8%
HV 60d	44.0%	39.4%	47.1%	39.4%	46.9%
IV Rank	34.8%	24.2%	43.8%	24.2%	36.9%
IV Percentile	69.7%	46.4%	79.0%	46.4%	72.6%
Term Structure	3.1%	-5.6%	8.6%	-3.1%	8.6%
VWIV	42.5%	34.9%	49.8%	39.7%	34.9%
Skew 25d	5.2%	3.9%	6.4%	4.4%	5.7%
Skew 10d	13.6%	7.3%	19.6%	11.0%	11.9%
Call IV 25d	39.4%	35.8%	45.6%	36.3%	41.2%
Put IV 25d	44.5%	40.6%	52.0%	40.6%	46.9%
Bid-Ask Spread %	81.46	69.52	91.15	72.29	91.15
Gamma HHI	0.12	0.09	0.20	0.17	0.20
Net GEX	245	-28.2K	37.0K	29.5K	37.0K
Net DEX	-5.6M	-7.5M	-4.1M	-7.5M	-6.4M
Net VEX	-19.8K	-22.2K	-17.1K	-18.7K	-17.1K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	1.19	0.13	2.75	0.44	0.20
Total Volume	81.15	6	243	69	6
Total OI	3,905.65	3,729	4,047	3,919	3,742

Daily Data (20 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 Vol	Put Vol	Call OI	Put OI
2018-12-03	$53.27	$50.00	37.1%	10.6%	50.4%	24.2%	39.7%	4.4%	-3.1%	29.5K	-7.5M	-18.7K	0.44	72.29	48	21	1,878	2,041
2018-12-04	$52.09	$50.00	41.2%	11.8%	50.6%	31.9%	41.1%	5.0%	-3.5%	14.7K	-6.9M	-19.4K	1.23	69.52	47	58	1,852	2,062
2018-12-05	$52.06	$50.00	42.5%	12.2%	37.8%	34.2%	42.6%	3.9%	-5.6%	12.7K	-6.8M	-19.6K	1.23	84.30	47	58	1,852	2,062
2018-12-06	$48.60	$40.00	43.9%	11.6%	41.3%	36.8%	37.4%	5.2%	3.4%	-19.0K	-4.9M	-22.2K	1.50	75.64	10	15	1,852	2,090
2018-12-07	$48.72	$40.00	43.1%	11.3%	41.1%	35.5%	38.4%	4.6%	3.0%	-15.3K	-5.0M	-22.0K	2.75	86.01	20	55	1,857	2,088
2018-12-10	$46.97	$40.00	47.6%	12.1%	42.8%	43.8%	45.7%	5.0%	3.5%	-28.2K	-4.1M	-22.1K	1.00	73.33	17	17	1,858	2,088
2018-12-11	$47.91	$40.00	46.5%	11.8%	38.9%	41.8%	43.9%	5.7%	3.8%	-24.6K	-4.6M	-21.9K	2.18	73.77	17	37	1,857	2,103
2018-12-12	$49.41	$40.00	39.2%	11.2%	39.9%	28.1%	42.7%	5.0%	3.7%	-10.7K	-5.5M	-20.8K	2.65	79.53	17	45	1,859	2,091
2018-12-13	$48.76	$40.00	39.3%	11.3%	40.1%	28.4%	43.4%	5.2%	4.1%	-19.2K	-5.1M	-20.8K	2.65	75.28	17	45	1,859	2,091
2018-12-14	$49.15	$40.00	39.5%	11.3%	38.1%	28.7%	43.9%	5.6%	4.1%	-17.1K	-5.3M	-20.4K	2.57	79.27	21	54	1,859	2,091
2018-12-17	$48.60	$40.00	41.5%	11.9%	37.6%	32.5%	41.2%	4.1%	2.8%	-19.7K	-5.1M	-19.9K	0.13	80.95	53	7	1,859	2,091
2018-12-18	$51.25	$40.00	40.0%	11.5%	42.3%	29.7%	38.6%	6.4%	3.2%	6.1K	-6.5M	-18.8K	0.26	83.01	57	15	1,885	2,091
2018-12-19	$50.17	$40.00	40.7%	11.7%	42.7%	30.9%	42.2%	5.8%	8.1%	3.8K	-6.1M	-18.8K	0.39	87.13	54	21	1,923	2,091
2018-12-20	$50.50	$40.00	42.4%	12.1%	42.7%	34.0%	42.4%	4.9%	0.8%	4.3K	-6.3M	-18.8K	0.32	83.25	104	33	1,957	2,086
2018-12-21	$48.56	$40.00	41.6%	11.9%	44.4%	32.7%	43.9%	5.1%	3.0%	544	-4.9M	-20.0K	0.77	85.37	112	86	1,958	2,089
2018-12-24	$47.10	$40.00	47.4%	13.6%	45.5%	43.4%	49.8%	6.4%	-1.3%	-4.7K	-4.5M	-19.4K	0.99	86.06	122	121	1,835	1,902
2018-12-26	$49.33	$40.00	46.8%	13.4%	48.9%	42.3%	47.0%	5.4%	7.0%	13.3K	-5.5M	-18.6K	1.35	86.12	17	23	1,838	1,902
2018-12-27	$49.22	$40.00	46.2%	13.2%	46.5%	41.2%	46.2%	5.5%	7.7%	12.4K	-5.4M	-18.7K	0.72	87.36	32	23	1,826	1,903
2018-12-28	$50.58	$40.00	45.6%	13.1%	47.6%	40.0%	45.0%	4.3%	8.1%	28.9K	-6.2M	-17.5K	0.51	89.84	47	24	1,842	1,903
2018-12-31	$51.21	$40.00	43.9%	12.6%	47.8%	36.9%	34.9%	5.7%	8.6%	37.0K	-6.4M	-17.1K	0.20	91.15	5	1	1,840	1,902