FN Options History — February 2019

In February 2019, FN traded between $51.41 and $59.60. ATM implied volatility averaged 38.6%, placing in the 27.3% IV rank vs the trailing year. The 30-day expected move averaged 10.3%. IV traded below realized volatility by 9.7% (HV 20d: 48.3%). Max pain ranged from $50.00 to $55.00. Net GEX was positive for 17 of 19 trading days. Term structure was in contango for 15 of 19 days. Put/call ratio averaged 0.40.

Notable Days

2019-02-05: Highest Volume — 1,698 contracts
2019-02-05: Largest IV drop — 48.4% change
2019-02-04: Highest IV Rank — 98.7%
2019-02-04: Largest Expected Move — 14.9%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$55.45	$51.41	$59.60	$56.78	$58.57
Max Pain	$52.63	$50.00	$55.00	$55.00	$55.00
ATM IV	38.6%	31.3%	77.0%	72.5%	31.3%
Expected Move	10.3%	9.0%	14.9%	14.6%	9.0%
HV 20d	48.3%	42.4%	53.7%	44.7%	43.1%
HV 60d	46.8%	45.0%	49.0%	49.0%	46.6%
IV Rank	27.3%	13.5%	98.7%	90.2%	13.5%
IV Percentile	35.0%	8.7%	99.6%	99.2%	8.7%
Term Structure	-0.0%	-5.8%	1.5%	-5.3%	1.5%
VWIV	36.0%	30.6%	51.0%	50.1%	30.6%
Skew 25d	3.9%	1.9%	5.9%	5.3%	5.9%
Skew 10d	9.7%	-5.9%	18.6%	10.9%	18.6%
Call IV 25d	34.5%	28.5%	49.4%	47.8%	28.5%
Put IV 25d	38.4%	34.5%	53.6%	53.1%	34.5%
Bid-Ask Spread %	63.85	28.20	84.14	28.20	84.14
Gamma HHI	0.37	0.15	0.71	0.15	0.58
Net GEX	191.7K	-37.1K	930.6K	35.4K	322.8K
Net DEX	-5.5M	-9.4M	-2.2M	-4.5M	-8.3M
Net VEX	-22.4K	-25.6K	-18.5K	-18.7K	-24.8K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.40	0.07	1.07	0.55	0.25
Total Volume	567.316	227	1,698	348	338
Total OI	4,300.526	2,999	5,775	2,999	4,084

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 Vol	Put Vol	Call OI	Put OI
2019-02-01	$56.78	$55.00	72.5%	14.6%	44.7%	90.2%	50.1%	5.3%	-5.3%	35.4K	-4.5M	-18.7K	0.55	28.20	224	124	1,483	1,516
2019-02-04	$56.79	$55.00	77.0%	14.9%	43.3%	98.7%	51.0%	4.2%	-5.8%	30.6K	-4.8M	-18.8K	0.41	30.84	1,099	446	1,606	1,625
2019-02-05	$52.31	$55.00	39.8%	10.8%	53.0%	29.2%	35.0%	4.5%	-1.5%	9.4K	-2.5M	-19.5K	0.53	61.07	1,112	586	2,216	1,994
2019-02-06	$53.87	$50.00	34.4%	9.9%	53.7%	19.4%	33.6%	3.7%	0.6%	100.3K	-4.4M	-18.9K	0.12	68.28	561	67	2,503	1,963
2019-02-07	$51.81	$50.00	36.8%	10.6%	52.4%	24.0%	36.7%	4.5%	0.5%	-13.7K	-2.5M	-19.3K	0.35	65.39	272	96	2,750	1,978
2019-02-08	$51.41	$50.00	36.4%	10.4%	50.6%	23.2%	36.8%	4.4%	0.5%	-37.1K	-2.2M	-18.8K	0.34	67.01	258	88	2,761	1,976
2019-02-11	$53.09	$50.00	35.5%	10.2%	52.1%	21.4%	37.0%	3.5%	0.9%	79.9K	-3.4M	-18.5K	0.24	66.32	469	113	2,736	1,984
2019-02-12	$53.18	$50.00	34.6%	9.9%	49.8%	19.8%	37.2%	3.7%	0.6%	100.8K	-3.9M	-21.7K	0.70	66.58	334	235	2,997	2,068
2019-02-13	$53.60	$50.00	34.2%	9.8%	49.8%	19.1%	34.1%	3.3%	0.7%	166.4K	-4.5M	-23.9K	0.30	57.97	772	235	3,154	2,224
2019-02-14	$54.90	$50.00	34.4%	9.8%	50.6%	19.3%	34.3%	3.9%	0.7%	295.0K	-6.1M	-24.4K	0.42	68.61	670	279	3,301	2,230
2019-02-15	$55.00	$50.00	33.5%	9.6%	50.4%	17.7%	33.7%	4.3%	1.3%	930.6K	-6.7M	-24.5K	0.43	67.17	394	171	3,526	2,249
2019-02-19	$55.69	$50.00	34.3%	9.8%	50.6%	19.2%	34.3%	3.2%	1.3%	179.6K	-6.0M	-23.9K	1.07	58.47	121	129	2,408	1,166
2019-02-20	$56.65	$55.00	34.3%	9.8%	50.8%	19.2%	33.3%	3.3%	0.7%	189.2K	-6.7M	-24.4K	0.39	66.59	220	86	2,450	1,293
2019-02-21	$56.04	$55.00	33.9%	9.7%	49.5%	18.5%	32.8%	4.6%	0.8%	179.9K	-5.9M	-25.0K	0.69	67.67	160	110	2,456	1,306
2019-02-22	$57.46	$55.00	35.4%	10.1%	44.6%	21.3%	35.1%	3.4%	-0.8%	212.2K	-7.0M	-25.4K	0.37	70.42	189	69	2,466	1,332
2019-02-25	$58.78	$55.00	31.9%	9.1%	43.2%	14.7%	32.8%	3.6%	0.8%	262.8K	-8.2M	-24.7K	0.07	64.32	252	18	2,508	1,341
2019-02-26	$59.60	$55.00	32.1%	9.2%	42.4%	15.2%	32.2%	3.4%	0.7%	309.8K	-9.4M	-24.9K	0.12	70.82	228	27	2,629	1,348
2019-02-27	$58.02	$55.00	32.2%	9.2%	43.3%	15.3%	32.7%	1.9%	1.3%	287.4K	-7.9M	-25.6K	0.24	83.31	183	44	2,715	1,368
2019-02-28	$58.57	$55.00	31.3%	9.0%	43.1%	13.5%	30.6%	5.9%	1.5%	322.8K	-8.3M	-24.8K	0.25	84.14	270	68	2,714	1,370