FN Options History — January 2023

In January 2023, FN traded between $127.16 and $138.45. ATM implied volatility averaged 44.9%, placing in the 22.5% IV rank vs the trailing year. The 30-day expected move averaged 13.6%. IV traded above realized volatility by 12.8% (HV 20d: 32.1%). Max pain ranged from $125.00 to $135.00. Net GEX was positive for 19 of 20 trading days. Term structure was in contango for 2 of 20 days. Put/call ratio averaged 0.34.

Notable Days

2023-01-12: Highest Volume — 86 contracts
2023-01-11: Largest IV spike — 34.8% change
2023-01-31: Highest IV Rank — 38.3%
2023-01-31: Largest Expected Move — 16.8%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$132.49	$127.16	$138.45	$131.08	$130.71
Max Pain	$129.25	$125.00	$135.00	$130.00	$125.00
ATM IV	44.9%	32.3%	58.6%	38.4%	58.6%
Expected Move	13.6%	10.6%	16.8%	11.0%	16.8%
HV 20d	32.1%	29.6%	33.8%	32.2%	33.0%
HV 60d	38.5%	36.9%	39.8%	39.6%	38.5%
IV Rank	22.5%	7.8%	38.3%	14.8%	38.3%
IV Percentile	62.5%	13.1%	93.3%	44.0%	93.3%
Term Structure	-7.5%	-14.9%	8.0%	8.0%	-14.9%
VWIV	48.1%	32.8%	58.9%	37.7%	58.9%
Skew 25d	6.4%	1.0%	11.3%	3.0%	7.4%
Skew 10d	13.2%	-4.4%	21.6%	21.6%	16.0%
Call IV 25d	45.0%	35.0%	55.3%	38.9%	55.3%
Put IV 25d	51.4%	40.9%	62.8%	41.9%	62.8%
Bid-Ask Spread %	85.82	77.84	97.08	94.98	85.62
Gamma HHI	0.28	0.14	0.52	0.32	0.14
Net GEX	49.8K	-5.8K	164.6K	-5.8K	29.2K
Net DEX	-1.3M	-2.9M	-303.8K	-463.3K	-875.3K
Net VEX	-5.7K	-6.5K	-4.9K	-5.7K	-6.2K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.34	0.00	1.17	0.01	0.25
Total Volume	27.2	0	86	78	10
Total OI	439.95	268	580	415	367

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
2023-01-03	$131.08	$130.00	38.4%	11.0%	32.2%	14.8%	37.7%	3.0%	8.0%	-5.8K	-463.3K	-5.7K	0.01	94.98	77	1	163	252
2023-01-04	$127.28	$130.00	37.1%	10.6%	33.3%	13.4%	32.8%	5.9%	6.4%	12.1K	-402.8K	-6.5K	0.04	97.08	55	2	226	253
2023-01-05	$127.16	$135.00	36.4%	13.3%	33.2%	12.5%	0.0%	6.4%	-7.1%	7.0K	-303.8K	-6.4K	0.00	77.84	0	0	223	258
2023-01-06	$129.09	$135.00	34.9%	12.5%	33.3%	10.8%	0.0%	5.7%	-5.1%	18.2K	-567.9K	-6.4K	0.00	82.65	0	3	223	258
2023-01-09	$130.90	$135.00	32.9%	13.4%	32.7%	8.5%	48.4%	4.3%	-8.3%	40.1K	-942.0K	-6.0K	0.00	80.52	0	2	225	259
2023-01-10	$130.66	$135.00	32.3%	13.2%	32.7%	7.8%	50.2%	2.6%	-7.1%	37.6K	-870.7K	-5.8K	0.00	83.89	0	3	225	261
2023-01-11	$133.81	$135.00	43.5%	12.5%	33.8%	20.8%	0.0%	11.3%	-7.1%	63.4K	-1.5M	-5.4K	0.00	86.79	1	0	225	264
2023-01-12	$135.71	$135.00	47.4%	13.6%	33.5%	25.3%	53.3%	7.5%	-10.3%	100.2K	-1.9M	-4.9K	0.72	85.64	50	36	226	264
2023-01-13	$137.93	$125.00	44.4%	12.7%	32.9%	21.8%	44.4%	6.6%	-8.6%	103.7K	-2.7M	-5.4K	0.00	81.86	38	0	274	262
2023-01-17	$138.45	$125.00	42.5%	12.2%	29.6%	19.7%	42.9%	10.2%	-6.5%	99.5K	-2.9M	-5.5K	0.14	88.06	22	3	304	262
2023-01-18	$134.73	$125.00	45.6%	13.1%	31.5%	23.2%	48.0%	6.7%	-7.7%	164.6K	-2.4M	-5.5K	0.70	85.40	10	7	299	265
2023-01-19	$131.66	$125.00	48.1%	13.8%	32.9%	26.2%	47.7%	9.1%	-10.1%	130.4K	-1.6M	-5.7K	0.59	82.67	22	13	304	271
2023-01-20	$133.25	$125.00	46.9%	13.4%	30.6%	24.7%	45.6%	3.3%	-6.7%	26.8K	-1.9M	-5.5K	0.00	87.98	15	0	306	274
2023-01-23	$136.04	$125.00	48.8%	14.0%	31.1%	26.9%	47.6%	6.7%	-11.5%	27.8K	-1.2M	-5.3K	0.04	87.80	28	1	163	105
2023-01-24	$136.94	$125.00	51.6%	14.8%	29.7%	30.2%	51.6%	3.3%	-11.8%	35.8K	-1.4M	-5.4K	0.60	85.76	5	3	183	106
2023-01-25	$134.16	$135.00	50.0%	14.3%	30.8%	28.4%	50.4%	8.0%	-11.8%	33.5K	-1.2M	-5.6K	0.45	88.52	40	18	183	109
2023-01-26	$134.52	$125.00	51.8%	14.9%	30.4%	30.5%	53.2%	7.2%	-8.9%	28.1K	-1.0M	-5.5K	0.25	86.87	8	2	173	127
2023-01-27	$128.27	$125.00	53.4%	15.3%	32.8%	32.3%	53.8%	1.0%	-11.8%	22.3K	-704.7K	-5.6K	1.17	86.90	24	28	175	129
2023-01-30	$127.46	$130.00	54.1%	15.5%	31.9%	33.1%	50.9%	11.2%	-10.0%	21.2K	-594.6K	-6.1K	0.42	79.63	12	5	197	156
2023-01-31	$130.71	$125.00	58.6%	16.8%	33.0%	38.3%	58.9%	7.4%	-14.9%	29.2K	-875.3K	-6.2K	0.25	85.62	8	2	209	158