FN Options History — March 2025

In March 2025, FN traded between $183.94 and $233.59. ATM implied volatility averaged 58.0%, placing in the 32.3% IV rank vs the trailing year. The 30-day expected move averaged 18.3%. IV traded below realized volatility by 18.5% (HV 20d: 76.6%). Max pain ranged from $190.00 to $230.00. Net GEX was positive for 1 of 21 trading days. Term structure was in contango for 14 of 21 days. Put/call ratio averaged 6.11.

Notable Days

  • 2025-03-19: Highest Volume — 3,766 contracts
  • 2025-03-11: Largest IV drop — 18.7% change
  • 2025-03-10: Highest IV Rank — 55.3%
  • 2025-03-10: Largest Expected Move — 21.6%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$208.25$183.94$233.59$189.54$199.51
Max Pain$210.25$190.00$230.00$220.00$230.00
ATM IV58.0%48.8%75.4%63.4%58.8%
Expected Move18.3%16.7%21.6%18.2%19.0%
HV 20d76.6%67.8%83.5%77.2%73.4%
HV 60d82.1%78.0%85.9%78.0%85.9%
IV Rank32.3%20.0%55.3%39.4%33.3%
IV Percentile74.6%60.7%94.0%85.7%72.2%
Term Structure4.1%-8.0%13.3%-8.0%7.3%
VWIV62.7%44.5%75.3%62.8%65.7%
Skew 25d4.1%-1.1%8.1%-1.1%3.7%
Skew 10d9.2%2.5%19.5%2.5%8.9%
Call IV 25d55.0%47.9%62.7%61.3%57.5%
Put IV 25d59.0%51.4%68.5%60.2%61.2%
Bid-Ask Spread %54.6821.5182.8675.7037.48
Gamma HHI0.340.190.640.360.44
Net GEX-1.2M-3.5M13.3K-2.0M-1.6M
Net DEX10.0M-9.4M35.3M35.3M17.5M
Net VEX-88.3K-132.7K-55.6K-103.6K-121.1K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio6.110.1252.864.613.33
Total Volume617.952323,76623091
Total OI8,777.9527,39213,2968,3858,505

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2025-03-03$189.54$220.0063.4%18.2%77.2%39.4%62.8%-1.1%-8.0%-2.0M35.3M-103.6K4.6175.70411891,3447,041
2025-03-04$191.57$220.0059.7%17.1%75.7%34.5%61.8%3.1%-3.8%-2.0M33.3M-105.5K1.1670.7238441,3727,095
2025-03-05$199.43$220.0061.0%17.5%67.8%36.2%60.9%0.6%2.1%-1.8M24.3M-99.7K52.8669.88371,9561,3947,102
2025-03-06$183.94$210.0063.0%18.1%70.6%38.8%62.4%1.2%0.5%-1.6M24.9M-83.2K0.3969.262391,4155,977
2025-03-07$193.68$210.0063.7%18.3%72.6%39.8%65.3%8.1%0.9%-1.3M17.8M-79.2K0.3573.69168581,4425,973
2025-03-10$188.11$200.0075.4%21.6%72.5%55.3%75.3%5.8%-1.9%-1.4M20.2M-80.1K2.1076.2240841,5505,986
2025-03-11$200.18$200.0061.3%20.0%76.4%36.6%70.6%4.9%0.3%-1.1M10.9M-74.0K0.8675.7259511,5696,020
2025-03-12$201.88$200.0064.2%20.6%76.5%40.5%44.5%7.6%-0.3%-959.8K8.7M-71.1K0.1272.74289361,6006,055
2025-03-13$222.00$200.0061.4%19.5%83.5%36.7%64.1%5.1%-0.0%-212.2K-5.6M-67.6K1.4576.935077331,8686,052
2025-03-14$219.65$210.0059.7%18.9%83.5%34.5%62.3%5.6%-0.5%-210.7K-4.7M-65.3K0.9082.861161042,1126,739
2025-03-17$222.99$195.0057.0%16.8%82.9%30.9%57.2%6.0%1.1%13.3K-7.4M-55.6K3.4340.971434912,1476,748
2025-03-18$222.81$195.0058.7%16.7%78.6%33.2%55.3%4.7%-0.3%-350.0K-5.1M-59.9K0.9738.622172112,2337,223
2025-03-19$227.63$195.0054.1%16.7%79.1%27.1%60.6%3.4%4.6%-97.0K-9.4M-56.5K35.9244.051023,6642,3277,361
2025-03-20$224.11$0.0052.1%18.1%78.7%24.4%64.7%1.8%11.8%-1.4M173.1K-87.7K1.4345.3023332,32310,968
2025-03-21$221.14$190.0050.7%18.1%77.5%22.6%68.9%5.1%12.5%-3.5M1.5M-80.1K11.0421.511912,1092,31910,977
2025-03-24$233.59$190.0048.8%17.8%79.2%20.0%60.9%3.5%13.3%-429.3K-1.8M-97.0K0.3333.01172561,3076,718
2025-03-25$221.24$230.0049.2%17.9%79.1%20.6%63.0%4.9%12.3%-598.0K1.9M-98.2K2.6834.7825671,4476,749
2025-03-26$209.32$230.0052.1%18.3%79.0%24.5%63.2%3.9%11.0%-1.1M10.6M-115.0K1.4840.181341981,4616,796
2025-03-27$207.43$230.0050.5%17.7%69.5%22.3%61.4%4.7%11.2%-1.2M11.5M-120.6K1.0639.4971751,5056,969
2025-03-28$193.53$230.0053.5%18.5%74.1%26.3%65.6%2.7%11.1%-1.9M25.5M-132.7K1.7529.171172051,5477,001
2025-03-31$199.51$230.0058.8%19.0%73.4%33.3%65.7%3.7%7.3%-1.6M17.5M-121.1K3.3337.4821701,6276,878