FN Options History — December 2025

In December 2025, FN traded between $427.41 and $529.75. ATM implied volatility averaged 51.8%, placing in the 15.4% IV rank vs the trailing year. The 30-day expected move averaged 14.7%. IV traded below realized volatility by 16.5% (HV 20d: 68.4%). Max pain ranged from $350.00 to $400.00. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 19 of 22 days. Put/call ratio averaged 1.01.

Notable Days

  • 2025-12-12: Highest Volume — 855 contracts
  • 2025-12-10: Largest IV drop — 8.8% change
  • 2025-12-02: Highest IV Rank — 20.8%
  • 2025-12-02: Largest Expected Move — 15.9%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$472.22$427.41$529.75$450.88$457.97
Max Pain$376.82$350.00$400.00$390.00$400.00
ATM IV51.8%48.8%55.5%53.9%49.0%
Expected Move14.7%14.0%15.9%15.4%14.0%
HV 20d68.4%64.1%75.7%71.2%65.4%
HV 60d56.3%50.7%60.4%50.7%60.4%
IV Rank15.4%10.1%20.8%18.5%10.1%
IV Percentile49.1%32.9%62.7%59.9%32.9%
Term Structure8.1%-3.3%16.2%-2.4%16.2%
VWIV52.0%48.7%56.8%56.1%48.7%
Skew 25d4.4%-0.0%6.9%4.7%3.1%
Skew 10d11.3%1.3%25.8%14.2%2.5%
Call IV 25d49.2%46.5%54.2%52.5%47.8%
Put IV 25d53.7%49.9%58.2%57.2%51.0%
Bid-Ask Spread %74.9565.1784.8381.8984.83
Gamma HHI0.100.070.150.080.07
Net GEX959.5K118.7K1.4M640.2K685.8K
Net DEX-74.0M-118.6M-43.3M-64.0M-51.3M
Net VEX-160.7K-178.3K-138.1K-169.8K-158.9K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.010.1810.140.460.29
Total Volume241.1364485511844
Total OI4,879.8183,4996,1364,7483,934

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2025-12-01$450.88$390.0053.9%15.4%71.2%18.5%56.1%4.7%-2.4%640.2K-64.0M-169.8K0.4681.8981372,5412,207
2025-12-02$440.82$390.0055.5%15.9%71.6%20.8%56.8%3.6%-3.3%583.9K-59.2M-169.3K0.9781.331131102,5742,224
2025-12-03$446.33$390.0053.5%15.3%68.9%17.9%55.3%4.2%-2.6%624.6K-61.2M-171.1K0.5382.7475402,6162,291
2025-12-04$468.02$350.0052.0%14.4%69.0%15.7%50.5%4.3%7.0%868.9K-78.2M-160.7K0.4265.36131552,6442,319
2025-12-05$478.99$350.0051.4%14.6%66.8%14.9%50.1%5.7%5.7%1.0M-86.4M-153.3K0.3666.90135492,6702,338
2025-12-08$486.49$360.0054.0%14.6%65.8%18.7%52.2%6.9%6.6%1.1M-90.6M-151.5K0.3568.13140492,7352,362
2025-12-09$498.31$360.0053.9%14.4%64.8%18.5%52.0%4.9%7.0%1.3M-98.3M-148.9K0.4565.172391072,7982,382
2025-12-10$523.36$360.0049.2%14.1%64.3%11.5%50.5%4.9%7.2%1.4M-114.5M-138.1K0.4669.21204942,9282,433
2025-12-11$529.75$360.0049.8%14.3%64.1%12.5%51.2%5.4%7.5%1.3M-118.6M-141.5K0.8767.5998852,9702,470
2025-12-12$470.66$360.0052.5%15.1%69.2%16.5%56.2%3.4%6.9%1.2M-78.5M-155.1K0.4070.386112442,9702,518
2025-12-15$471.24$370.0053.7%15.4%68.9%18.3%51.4%2.4%5.8%1.2M-79.5M-156.5K0.1872.99309553,1492,664
2025-12-16$450.04$370.0053.8%15.4%71.4%18.3%53.1%5.6%6.0%835.4K-62.5M-161.5K0.5672.782061163,2032,705
2025-12-17$427.41$370.0054.5%15.6%73.7%19.4%53.8%6.8%5.8%118.7K-43.3M-157.3K0.6673.451661093,2412,717
2025-12-18$451.91$370.0053.0%15.2%75.7%17.1%53.4%5.8%11.1%853.6K-64.8M-159.0K1.1676.471391613,2932,734
2025-12-19$476.03$370.0051.2%14.7%70.2%14.6%52.6%6.9%11.6%1.3M-85.8M-156.9K0.9875.182282243,3282,808
2025-12-22$480.09$390.0051.2%14.7%70.2%14.6%49.1%4.0%11.5%1.1M-67.6M-165.4K0.3975.363661412,4651,034
2025-12-23$487.23$390.0049.4%14.2%68.2%11.9%50.0%4.5%13.2%1.2M-71.4M-178.3K0.3377.3472242,5601,148
2025-12-24$478.75$390.0049.4%14.2%67.9%11.9%50.1%2.3%13.8%1.1M-67.8M-173.8K10.1477.047712,5841,163
2025-12-26$480.59$400.0048.8%14.0%65.1%11.0%48.8%4.3%14.8%1.0M-67.2M-175.4K0.3180.2535112,5921,263
2025-12-29$470.14$400.0050.5%14.5%65.7%13.6%52.4%4.0%13.1%915.8K-60.5M-169.9K1.6380.9324392,6031,268
2025-12-30$463.94$400.0049.7%14.3%65.8%12.4%48.9%-0.0%15.3%805.3K-56.5M-163.8K0.3383.5246152,6101,300
2025-12-31$457.97$400.0049.0%14.0%65.4%10.1%48.7%3.1%16.2%685.8K-51.3M-158.9K0.2984.8334102,6271,307