FN Options History — December 2023

In December 2023, FN traded between $161.99 and $198.41. ATM implied volatility averaged 31.5%, placing in the 8.0% IV rank vs the trailing year. The 30-day expected move averaged 8.7%. IV traded below realized volatility by 0.7% (HV 20d: 32.2%). Max pain ranged from $150.00 to $175.00. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 19 of 20 days. Put/call ratio averaged 0.63.

Notable Days

2023-12-14: Highest Volume — 316 contracts
2023-12-11: Largest IV spike — 32.4% change
2023-12-11: Highest IV Rank — 19.9%
2023-12-01: Largest Expected Move — 9.4%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$180.93	$161.99	$198.41	$164.81	$191.09
Max Pain	$169.75	$150.00	$175.00	$150.00	$175.00
ATM IV	31.5%	27.1%	39.6%	33.0%	28.7%
Expected Move	8.7%	8.2%	9.4%	9.4%	8.2%
HV 20d	32.2%	27.0%	39.7%	39.7%	33.4%
HV 60d	36.6%	35.5%	38.2%	35.6%	36.8%
IV Rank	8.0%	1.7%	19.9%	10.2%	4.0%
IV Percentile	28.3%	0.8%	70.2%	42.9%	8.3%
Term Structure	10.4%	-2.9%	17.9%	-2.9%	17.1%
VWIV	30.7%	27.2%	34.2%	34.2%	29.0%
Skew 25d	0.7%	-6.3%	5.1%	2.6%	1.2%
Skew 10d	5.1%	-1.3%	12.7%	12.7%	4.6%
Call IV 25d	30.8%	25.9%	34.6%	32.6%	25.9%
Put IV 25d	31.5%	25.6%	35.2%	35.2%	27.1%
Bid-Ask Spread %	82.42	74.38	89.39	85.36	89.39
Gamma HHI	0.35	0.13	0.77	0.51	0.16
Net GEX	532.9K	164.9K	1.9M	454.8K	274.8K
Net DEX	-11.4M	-28.8M	-3.8M	-6.1M	-10.3M
Net VEX	-27.6K	-37.5K	-19.3K	-37.5K	-22.2K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.63	0.00	3.45	0.54	0.86
Total Volume	82.35	5	316	43	41
Total OI	2,783.9	1,585	3,725	3,420	1,954

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
2023-12-01	$164.81	$150.00	33.0%	9.4%	39.7%	10.2%	34.2%	2.6%	-2.9%	454.8K	-6.1M	-37.5K	0.54	85.36	28	15	1,930	1,490
2023-12-04	$166.63	$170.00	32.8%	8.8%	36.2%	10.0%	31.1%	0.5%	6.8%	528.6K	-7.7M	-36.7K	0.07	76.62	215	14	1,940	1,522
2023-12-05	$163.78	$170.00	35.9%	8.4%	36.7%	14.4%	31.4%	1.0%	11.1%	403.2K	-4.8M	-35.2K	0.85	82.10	27	23	2,030	1,533
2023-12-06	$161.99	$170.00	34.0%	8.6%	28.3%	11.8%	28.9%	5.1%	7.0%	323.9K	-3.8M	-32.5K	0.71	78.64	7	5	2,017	1,534
2023-12-07	$165.11	$170.00	33.0%	8.7%	29.4%	10.3%	32.9%	2.7%	5.7%	499.6K	-6.4M	-34.5K	0.02	74.38	90	2	2,021	1,533
2023-12-08	$165.86	$170.00	29.9%	8.2%	27.0%	5.8%	28.8%	3.1%	10.6%	561.1K	-6.3M	-32.1K	1.00	82.63	7	7	2,105	1,534
2023-12-11	$171.37	$170.00	39.6%	8.9%	29.4%	19.9%	30.9%	-6.3%	7.5%	1.1M	-12.0M	-31.9K	0.07	81.39	72	5	2,108	1,535
2023-12-12	$171.76	$170.00	27.1%	8.9%	29.1%	1.7%	33.0%	2.5%	6.5%	1.2M	-11.7M	-30.8K	0.50	77.05	10	5	2,110	1,534
2023-12-13	$176.29	$170.00	30.5%	8.7%	28.0%	6.7%	30.2%	-2.3%	7.9%	1.9M	-19.0M	-29.7K	0.20	82.81	90	18	2,112	1,538
2023-12-14	$186.75	$170.00	31.1%	8.9%	33.7%	7.5%	28.5%	1.0%	9.2%	567.4K	-28.8M	-24.0K	0.07	86.27	296	20	2,106	1,547
2023-12-15	$186.13	$170.00	32.3%	9.3%	32.8%	9.3%	31.9%	3.0%	9.7%	834.4K	-26.2M	-25.3K	0.01	81.15	74	1	2,168	1,557
2023-12-18	$192.71	$170.00	31.7%	9.1%	34.4%	8.4%	32.3%	-3.4%	12.1%	164.9K	-9.7M	-20.8K	0.00	82.13	233	0	920	665
2023-12-19	$191.61	$170.00	30.9%	8.8%	34.7%	7.1%	32.1%	1.2%	10.7%	259.9K	-10.0M	-25.0K	0.05	85.64	115	6	1,120	665
2023-12-20	$188.85	$170.00	30.1%	8.6%	32.0%	6.1%	32.3%	-0.9%	14.0%	229.2K	-9.2M	-24.8K	1.89	83.91	18	34	1,082	670
2023-12-21	$191.14	$170.00	29.7%	8.5%	32.0%	5.5%	27.2%	-0.3%	12.9%	220.7K	-9.5M	-24.0K	0.25	81.06	4	1	1,081	701
2023-12-22	$191.81	$170.00	30.8%	8.8%	31.7%	7.0%	31.4%	0.8%	11.2%	227.4K	-9.8M	-22.7K	0.54	81.78	13	7	1,080	700
2023-12-26	$195.70	$170.00	30.2%	8.7%	31.7%	6.2%	31.8%	1.9%	16.4%	246.8K	-11.0M	-21.2K	0.93	84.06	30	28	1,084	703
2023-12-27	$198.41	$175.00	29.4%	8.4%	31.5%	5.0%	27.3%	0.6%	16.3%	263.6K	-12.4M	-19.3K	0.48	85.80	25	12	1,105	710
2023-12-28	$196.84	$175.00	28.8%	8.2%	31.3%	4.1%	29.4%	-0.0%	17.9%	343.1K	-12.3M	-22.7K	3.45	86.28	11	38	1,213	721
2023-12-29	$191.09	$175.00	28.7%	8.2%	33.4%	4.0%	29.0%	1.2%	17.1%	274.8K	-10.3M	-22.2K	0.86	89.39	22	19	1,216	738