FN Options History — February 2026

In February 2026, FN traded between $420.63 and $618.70. ATM implied volatility averaged 66.3%, placing in the 35.8% IV rank vs the trailing year. The 30-day expected move averaged 18.8%. IV traded below realized volatility by 18.7% (HV 20d: 85.0%). Max pain ranged from $460.00 to $550.00. Net GEX was positive for 16 of 19 trading days. Term structure was in contango for 0 of 19 days. Put/call ratio averaged 1.11.

Notable Days

2026-02-03: Highest Volume — 3,214 contracts
2026-02-03: Largest IV drop — 24.5% change
2026-02-02: Highest IV Rank — 72.7%
2026-02-02: Largest Expected Move — 26.1%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$508.18	$420.63	$618.70	$504.42	$542.97
Max Pain	$484.21	$460.00	$550.00	$460.00	$550.00
ATM IV	66.3%	62.1%	91.0%	91.0%	64.4%
Expected Move	18.8%	17.8%	26.1%	26.1%	18.5%
HV 20d	85.0%	57.7%	97.1%	57.7%	97.1%
HV 60d	71.5%	63.7%	74.8%	63.7%	74.2%
IV Rank	35.8%	29.6%	72.7%	72.7%	33.0%
IV Percentile	77.1%	69.8%	98.4%	98.4%	76.2%
Term Structure	-3.8%	-17.2%	-1.0%	-17.2%	-2.1%
VWIV	66.2%	62.2%	93.0%	93.0%	64.6%
Skew 25d	4.6%	2.9%	7.2%	3.9%	4.3%
Skew 10d	9.8%	0.8%	16.8%	8.3%	10.3%
Call IV 25d	63.4%	59.5%	90.1%	90.1%	62.5%
Put IV 25d	68.0%	63.9%	94.1%	94.1%	66.8%
Bid-Ask Spread %	46.86	23.84	59.46	23.84	52.87
Gamma HHI	0.05	0.04	0.06	0.05	0.04
Net GEX	664.4K	-355.9K	1.2M	756.1K	704.3K
Net DEX	-56.5M	-123.1M	2.5M	-51.0M	-63.9M
Net VEX	-360.3K	-471.9K	-235.9K	-235.9K	-471.9K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	1.11	0.35	7.55	0.84	0.53
Total Volume	833.737	103	3,214	1,637	773
Total OI	6,807.158	4,075	8,164	4,075	6,777

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
2026-02-02	$504.42	$460.00	91.0%	26.1%	57.7%	72.7%	93.0%	3.9%	-17.2%	756.1K	-51.0M	-235.9K	0.84	23.84	889	748	2,576	1,499
2026-02-03	$440.73	$480.00	68.7%	19.7%	73.9%	39.4%	68.7%	3.6%	-5.2%	-232.3K	-6.6M	-260.0K	1.23	55.08	1,440	1,774	3,038	2,469
2026-02-04	$420.63	$460.00	69.8%	20.0%	73.2%	41.1%	70.7%	5.3%	-4.6%	-355.9K	2.5M	-286.2K	0.41	59.46	621	257	3,412	3,301
2026-02-05	$443.11	$470.00	71.4%	19.0%	75.8%	43.5%	65.7%	5.5%	-2.9%	-822	-13.1M	-307.2K	7.55	38.98	108	815	3,521	3,275
2026-02-06	$505.13	$470.00	64.2%	17.8%	86.1%	32.7%	62.9%	4.0%	-1.7%	1.0M	-59.6M	-333.1K	0.88	34.34	633	559	3,537	3,582
2026-02-09	$502.13	$480.00	64.8%	17.8%	86.1%	33.6%	63.6%	4.3%	-2.4%	885.9K	-55.1M	-360.1K	0.78	44.05	334	261	3,573	3,772
2026-02-10	$468.13	$480.00	64.0%	18.0%	89.7%	32.3%	62.8%	2.9%	-2.5%	281.8K	-29.8M	-369.0K	0.68	41.90	214	145	3,684	3,860
2026-02-11	$464.03	$470.00	62.8%	18.0%	86.9%	30.7%	62.8%	3.3%	-3.0%	180.0K	-27.4M	-377.4K	0.97	50.47	134	130	3,775	3,896
2026-02-12	$464.97	$470.00	65.0%	18.6%	86.7%	33.9%	64.5%	3.8%	-3.6%	193.8K	-28.2M	-374.8K	1.06	54.20	50	53	3,794	3,951
2026-02-13	$495.17	$470.00	62.8%	18.0%	87.9%	30.6%	63.2%	4.1%	-2.4%	1.1M	-57.6M	-384.3K	0.35	47.66	251	87	3,795	3,954
2026-02-17	$497.39	$470.00	64.9%	18.6%	87.7%	33.7%	65.5%	5.3%	-3.5%	958.6K	-56.9M	-366.4K	0.66	48.00	166	109	3,895	3,964
2026-02-18	$504.75	$470.00	63.1%	18.1%	87.4%	31.1%	62.2%	5.5%	-3.1%	1.2M	-63.1M	-362.5K	0.75	53.38	373	279	3,921	3,966
2026-02-19	$508.41	$470.00	63.5%	18.2%	87.3%	31.6%	63.8%	6.2%	-3.2%	1.2M	-65.4M	-366.6K	1.01	54.17	126	127	3,984	4,119
2026-02-20	$543.06	$480.00	62.5%	17.9%	88.4%	30.2%	62.3%	4.7%	-3.4%	785.6K	-100.5M	-359.4K	0.75	47.27	627	469	4,019	4,145
2026-02-23	$574.66	$500.00	67.1%	19.2%	89.7%	37.0%	69.8%	7.2%	-4.2%	826.9K	-85.3M	-376.5K	0.66	43.22	526	347	2,647	2,291
2026-02-24	$588.87	$500.00	64.3%	18.4%	89.8%	32.9%	66.2%	4.7%	-2.7%	1.0M	-102.8M	-397.3K	0.82	41.64	289	238	2,965	2,485
2026-02-25	$618.70	$510.00	63.2%	18.1%	89.0%	31.2%	63.2%	4.3%	-3.5%	1.2M	-123.1M	-403.5K	0.56	48.57	754	419	3,098	2,564
2026-02-26	$568.14	$540.00	62.1%	17.8%	95.3%	29.6%	62.7%	4.8%	-1.0%	948.6K	-86.6M	-454.1K	0.66	51.34	431	285	3,414	2,818
2026-02-27	$542.97	$550.00	64.4%	18.5%	97.1%	33.0%	64.6%	4.3%	-2.1%	704.3K	-63.9M	-471.9K	0.53	52.87	505	268	3,715	3,062