FN Options History — March 2019

In March 2019, FN traded between $51.50 and $58.14. ATM implied volatility averaged 35.0%, placing in the 20.5% IV rank vs the trailing year. The 30-day expected move averaged 11.7%. IV traded above realized volatility by 1.8% (HV 20d: 33.2%). Max pain ranged from $45.00 to $55.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 21 of 21 days. Put/call ratio averaged 0.84.

Notable Days

2019-03-01: Highest Volume — 552 contracts
2019-03-04: Largest IV spike — 13.3% change
2019-03-11: Highest IV Rank — 28.3%
2019-03-28: Largest Expected Move — 13.5%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$54.23	$51.50	$58.14	$57.92	$52.16
Max Pain	$54.21	$45.00	$55.00	$55.00	$55.00
ATM IV	35.0%	30.8%	39.1%	30.8%	35.2%
Expected Move	11.7%	8.8%	13.5%	8.8%	13.4%
HV 20d	33.2%	29.3%	44.1%	42.6%	32.0%
HV 60d	44.1%	42.4%	46.9%	46.7%	42.4%
IV Rank	20.5%	12.7%	28.3%	12.7%	21.0%
IV Percentile	34.4%	7.1%	56.0%	7.1%	37.3%
Term Structure	7.0%	2.0%	12.3%	2.0%	11.4%
VWIV	40.1%	31.3%	46.7%	31.3%	46.7%
Skew 25d	3.8%	2.6%	5.3%	4.3%	3.5%
Skew 10d	8.8%	4.6%	18.1%	4.6%	13.0%
Call IV 25d	33.1%	29.1%	35.5%	29.1%	32.6%
Put IV 25d	36.9%	33.4%	38.3%	33.4%	36.0%
Bid-Ask Spread %	55.41	35.79	91.62	70.66	42.65
Gamma HHI	0.34	0.22	0.60	0.55	0.22
Net GEX	67.5K	3.4K	280.9K	280.9K	38.2K
Net DEX	-3.7M	-7.5M	-2.0M	-7.5M	-2.3M
Net VEX	-21.4K	-24.1K	-19.9K	-24.1K	-19.9K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.84	0.09	2.57	0.09	2.57
Total Volume	199.667	80	552	552	200
Total OI	3,473.381	2,881	4,026	4,026	3,184

Daily Data (21 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
2019-03-01	$57.92	$55.00	30.8%	8.8%	42.6%	12.7%	31.3%	4.3%	2.0%	280.9K	-7.5M	-24.1K	0.09	70.66	506	46	2,624	1,402
2019-03-04	$58.14	$55.00	34.9%	10.0%	42.6%	20.5%	35.7%	3.4%	4.1%	223.2K	-7.0M	-22.9K	1.04	88.79	70	73	2,359	1,389
2019-03-05	$56.41	$55.00	36.2%	10.4%	44.1%	22.9%	33.9%	4.3%	3.6%	151.5K	-5.3M	-22.6K	0.39	87.32	178	70	2,345	1,414
2019-03-06	$54.66	$55.00	35.4%	10.2%	34.1%	21.4%	33.7%	4.4%	4.3%	91.4K	-4.2M	-22.5K	0.72	82.01	152	110	2,399	1,424
2019-03-07	$53.56	$55.00	35.4%	10.2%	33.4%	21.4%	33.9%	2.7%	3.6%	49.0K	-3.2M	-21.2K	0.76	89.27	125	95	2,339	1,444
2019-03-08	$54.29	$55.00	34.7%	10.0%	30.4%	20.1%	33.6%	5.0%	4.4%	59.4K	-3.6M	-21.3K	0.98	91.62	112	110	2,345	1,435
2019-03-11	$55.65	$55.00	39.1%	11.2%	31.2%	28.3%	38.1%	3.9%	4.1%	86.1K	-4.6M	-21.5K	0.76	40.52	112	85	2,335	1,483
2019-03-12	$55.51	$55.00	34.7%	11.2%	29.4%	20.0%	39.1%	3.7%	4.1%	38.1K	-4.3M	-21.5K	1.00	41.61	55	55	2,336	1,559
2019-03-13	$56.40	$55.00	34.1%	11.2%	29.8%	18.9%	39.0%	3.9%	5.0%	54.2K	-5.0M	-21.3K	0.28	42.22	81	23	2,313	1,590
2019-03-14	$55.34	$55.00	34.1%	11.2%	30.7%	18.8%	38.1%	4.1%	4.9%	3.4K	-4.2M	-21.8K	0.25	43.74	163	40	2,305	1,593
2019-03-15	$54.35	$55.00	33.4%	11.1%	30.3%	17.6%	37.9%	5.3%	5.4%	43.4K	-3.0M	-20.9K	0.57	41.03	136	77	2,267	1,570
2019-03-18	$53.60	$0.00	33.6%	12.4%	30.6%	17.9%	0.0%	3.5%	9.6%	35.7K	-3.0M	-20.9K	2.48	63.88	23	57	1,613	1,268
2019-03-19	$53.47	$0.00	33.6%	12.4%	30.2%	17.9%	44.5%	3.3%	9.8%	32.5K	-3.0M	-20.9K	0.79	36.95	75	59	1,624	1,293
2019-03-20	$53.38	$45.00	33.8%	12.4%	29.3%	18.3%	43.9%	3.6%	9.6%	29.9K	-2.8M	-21.4K	0.31	42.37	222	69	1,640	1,323
2019-03-21	$54.54	$50.00	32.5%	12.1%	30.4%	15.9%	43.1%	3.5%	9.7%	47.9K	-3.5M	-21.2K	0.83	35.79	126	104	1,680	1,329
2019-03-22	$51.50	$55.00	36.6%	12.9%	34.7%	23.6%	44.5%	2.6%	8.6%	17.8K	-2.0M	-21.2K	0.73	44.67	113	82	1,692	1,357
2019-03-25	$52.03	$55.00	37.4%	13.4%	33.6%	25.1%	46.5%	2.8%	9.8%	24.0K	-2.3M	-20.6K	0.39	43.07	113	44	1,713	1,388
2019-03-26	$51.64	$55.00	36.2%	13.4%	32.8%	22.9%	44.9%	4.4%	10.6%	34.4K	-2.2M	-20.3K	1.14	45.75	57	65	1,779	1,390
2019-03-27	$52.04	$55.00	37.0%	13.4%	32.3%	24.3%	46.4%	4.7%	10.0%	35.9K	-2.3M	-21.0K	0.60	45.03	90	54	1,787	1,411
2019-03-28	$52.34	$55.00	35.5%	13.5%	32.1%	21.6%	46.3%	3.1%	12.3%	40.3K	-2.5M	-21.0K	0.93	44.69	86	80	1,787	1,413
2019-03-29	$52.16	$55.00	35.2%	13.4%	32.0%	21.0%	46.7%	3.5%	11.4%	38.2K	-2.3M	-19.9K	2.57	42.65	56	144	1,788	1,396