FN Options History — February 2023

In February 2023, FN traded between $119.78 and $133.68. ATM implied volatility averaged 37.3%, placing in the 13.5% IV rank vs the trailing year. The 30-day expected move averaged 9.8%. IV traded below realized volatility by 1.1% (HV 20d: 38.4%). Max pain ranged from $120.00 to $130.00. Net GEX was positive for 13 of 19 trading days. Term structure was in contango for 6 of 19 days. Put/call ratio averaged 4.41.

Notable Days

2023-02-06: Highest Volume — 279 contracts
2023-02-07: Largest IV drop — 46.9% change
2023-02-06: Highest IV Rank — 46.5%
2023-02-01: Largest Expected Move — 16.5%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$125.19	$119.78	$133.68	$133.68	$122.94
Max Pain	$124.47	$120.00	$130.00	$125.00	$125.00
ATM IV	37.3%	27.1%	65.6%	57.5%	32.1%
Expected Move	9.8%	7.8%	16.5%	16.5%	9.2%
HV 20d	38.4%	30.7%	42.0%	32.7%	37.5%
HV 60d	34.4%	33.0%	38.8%	38.8%	33.0%
IV Rank	13.5%	1.7%	46.5%	37.1%	7.6%
IV Percentile	28.1%	1.2%	98.8%	92.9%	15.9%
Term Structure	-2.6%	-17.0%	1.7%	-17.0%	-2.6%
VWIV	33.4%	21.3%	58.2%	58.2%	37.5%
Skew 25d	5.1%	-2.4%	12.7%	10.4%	5.6%
Skew 10d	10.3%	-1.4%	29.6%	29.6%	20.3%
Call IV 25d	33.8%	22.3%	57.2%	57.2%	31.1%
Put IV 25d	38.9%	32.3%	67.6%	67.6%	36.7%
Bid-Ask Spread %	91.99	78.33	101.73	91.46	97.76
Gamma HHI	0.17	0.14	0.27	0.15	0.16
Net GEX	4.9K	-58.2K	35.9K	34.5K	13.6K
Net DEX	-408.1K	-1.2M	584.2K	-1.2M	-288.8K
Net VEX	-7.2K	-10.2K	-6.0K	-6.4K	-10.1K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	4.41	0.00	47.00	0.05	3.67
Total Volume	61.474	4	279	21	14
Total OI	622.684	377	884	377	514

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
2023-02-01	$133.68	$125.00	57.5%	16.5%	32.7%	37.1%	58.2%	10.4%	-17.0%	34.5K	-1.2M	-6.4K	0.05	91.46	20	1	217	160
2023-02-02	$132.95	$130.00	61.0%	12.4%	30.8%	41.2%	0.0%	5.3%	-5.2%	33.0K	-1.0M	-6.4K	3.00	78.33	1	3	213	170
2023-02-03	$132.93	$130.00	60.7%	12.1%	30.8%	40.8%	0.0%	5.4%	-7.0%	30.0K	-1.0M	-6.2K	47.00	82.92	1	47	212	173
2023-02-06	$131.56	$130.00	65.6%	13.0%	30.7%	46.5%	39.5%	7.4%	-6.1%	19.2K	-800.3K	-6.1K	1.21	82.42	126	153	208	219
2023-02-07	$121.50	$130.00	34.8%	8.9%	41.5%	10.7%	29.5%	2.4%	1.2%	-58.2K	584.2K	-6.0K	0.54	92.02	178	96	320	362
2023-02-08	$123.17	$125.00	31.0%	8.9%	42.0%	6.2%	30.1%	-2.4%	0.6%	-34.9K	121.1K	-7.0K	0.12	93.30	120	14	427	383
2023-02-09	$122.17	$125.00	31.0%	8.9%	40.8%	6.2%	26.4%	3.7%	-0.9%	-45.2K	327.6K	-6.9K	1.25	90.63	12	15	462	380
2023-02-10	$123.39	$120.00	30.3%	8.7%	40.6%	5.4%	34.3%	2.6%	-1.4%	-30.8K	82.6K	-6.7K	0.67	91.46	21	14	460	372
2023-02-13	$126.90	$120.00	30.8%	8.8%	41.6%	6.0%	31.2%	11.4%	-0.6%	532	-402.4K	-6.9K	0.65	89.67	69	45	459	384
2023-02-14	$127.44	$120.00	30.2%	8.7%	41.6%	5.4%	0.0%	7.5%	-1.0%	32.0K	-740.8K	-7.1K	0.86	91.29	7	6	498	386
2023-02-15	$124.04	$120.00	28.3%	8.1%	41.6%	3.1%	40.7%	2.5%	0.8%	-28.6K	-171.0K	-6.8K	0.06	93.10	34	2	499	382
2023-02-16	$123.84	$120.00	27.9%	8.0%	41.0%	2.7%	21.3%	10.2%	0.2%	-3.7K	-587.3K	-7.4K	0.33	95.67	3	1	523	356
2023-02-17	$123.06	$120.00	28.8%	8.2%	40.6%	3.7%	29.0%	0.8%	-0.6%	35.9K	-608.5K	-7.3K	3.38	94.49	8	27	523	355
2023-02-21	$122.36	$125.00	32.6%	9.3%	39.5%	8.1%	33.3%	6.9%	-2.3%	23.7K	-558.2K	-7.0K	0.00	92.82	0	4	225	184
2023-02-22	$121.95	$125.00	36.5%	10.5%	39.3%	12.6%	0.0%	12.7%	-8.9%	22.0K	-519.1K	-7.3K	2.38	101.73	8	19	225	188
2023-02-23	$122.80	$125.00	27.1%	7.8%	39.1%	1.7%	31.0%	1.5%	1.7%	24.6K	-498.0K	-7.8K	0.00	96.85	7	0	229	207
2023-02-24	$119.78	$125.00	28.5%	8.2%	39.7%	3.3%	26.4%	1.7%	1.4%	14.5K	-299.4K	-7.5K	14.20	96.23	5	71	234	207
2023-02-27	$122.12	$125.00	33.2%	9.5%	37.4%	8.8%	32.1%	2.2%	-1.7%	11.8K	-194.5K	-10.2K	0.07	95.71	15	1	236	279
2023-02-28	$122.94	$125.00	32.1%	9.2%	37.5%	7.6%	37.5%	5.6%	-2.6%	13.6K	-288.8K	-10.1K	3.67	97.76	3	11	235	279