FTC Options History — July 2023

In July 2023, FTC traded between $99.27 and $104.48. ATM implied volatility averaged 17.9%, placing in the 11.9% IV rank vs the trailing year. The 30-day expected move averaged 5.0%. IV traded above realized volatility by 5.3% (HV 20d: 12.6%). Max pain ranged from $96.00 to $96.00. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 6 of 20 days. Put/call ratio averaged 0.50.

Notable Days

2023-07-07: Highest Volume — 8 contracts
2023-07-27: Largest IV spike — 71.5% change
2023-07-27: Highest IV Rank — 24.3%
2023-07-27: Largest Expected Move — 7.3%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$102.42	$99.27	$104.48	$101.13	$103.88
Max Pain	$96.00	$96.00	$96.00	$96.00	$96.00
ATM IV	17.9%	14.2%	25.6%	20.8%	19.3%
Expected Move	5.0%	3.8%	7.3%	6.0%	5.5%
HV 20d	12.6%	11.0%	13.4%	11.0%	12.7%
HV 60d	13.7%	13.3%	14.4%	13.4%	13.4%
IV Rank	11.9%	5.8%	24.3%	16.6%	14.1%
IV Percentile	18.7%	4.8%	53.6%	27.0%	24.2%
Term Structure	-2.3%	-14.4%	5.4%	-6.7%	-11.9%
Skew 25d	2.3%	-11.1%	12.2%	1.2%	-1.2%
Skew 10d	2.8%	-14.8%	11.9%	4.3%	0.3%
Call IV 25d	18.1%	9.5%	28.5%	17.2%	16.2%
Put IV 25d	20.4%	14.1%	30.1%	18.4%	15.1%
Bid-Ask Spread %	119.67	84.17	169.35	148.41	111.44
Gamma HHI	0.71	0.40	1.00	0.56	1.00
Net GEX	11.6K	3.5K	36.0K	11.6K	4.0K
Net DEX	-373.6K	-672.5K	-36.8K	-413.7K	-48.4K
Net VEX	-312	-552	-153	-535	-153
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.50	0.00	1.00	1.00	0.00
Total Volume	0.6	0	8	0	0
Total OI	70.8	8	100	92	8

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 Wall	Put Wall	Call Vol	Put Vol	Call OI	Put OI
2023-07-03	$101.13	$96.00	20.8%	6.0%	11.0%	16.6%	0.0%	1.2%	-6.7%	11.6K	-413.7K	-535	0.00	148.41	N/A	N/A	0	0	60	32
2023-07-05	$100.48	$96.00	14.8%	4.2%	11.3%	6.8%	0.0%	-8.5%	-0.5%	12.3K	-376.6K	-539	0.00	152.38	N/A	N/A	0	0	60	32
2023-07-06	$99.27	$0.00	14.2%	5.3%	12.5%	5.8%	0.0%	5.7%	-2.1%	24.5K	-346.3K	-503	1.00	84.17	N/A	N/A	2	2	60	32
2023-07-07	$99.82	$0.00	18.2%	4.1%	12.5%	12.3%	0.0%	12.2%	-3.8%	36.0K	-334.3K	-402	0.00	94.15	N/A	N/A	8	0	60	32
2023-07-10	$100.93	$0.00	15.2%	3.8%	12.8%	7.4%	0.0%	5.6%	5.0%	18.4K	-461.6K	-552	0.00	160.80	N/A	N/A	0	0	68	32
2023-07-11	$101.73	$0.00	25.2%	5.2%	12.9%	23.8%	0.0%	3.1%	-4.7%	15.0K	-464.6K	-551	0.00	169.35	N/A	N/A	0	0	68	32
2023-07-12	$102.09	$0.00	16.9%	4.9%	12.5%	10.3%	0.0%	0.2%	2.0%	15.5K	-518.1K	-473	0.00	164.83	N/A	N/A	0	0	68	32
2023-07-13	$103.14	$0.00	14.8%	4.2%	12.5%	6.8%	0.0%	1.1%	0.9%	14.0K	-586.9K	-359	0.00	142.94	N/A	N/A	0	0	68	32
2023-07-14	$102.47	$0.00	16.8%	4.8%	12.9%	10.0%	0.0%	3.6%	-4.0%	15.0K	-520.8K	-444	0.00	149.16	N/A	N/A	0	0	68	32
2023-07-17	$103.73	$0.00	16.6%	4.8%	12.8%	9.8%	0.0%	0.3%	-3.9%	10.9K	-636.9K	-233	0.00	90.01	N/A	N/A	0	0	68	32
2023-07-18	$104.48	$0.00	20.4%	5.9%	12.6%	15.9%	0.0%	2.3%	3.0%	5.7K	-672.5K	-176	0.00	101.32	N/A	N/A	0	0	68	32
2023-07-19	$104.14	$0.00	17.1%	4.9%	12.3%	10.5%	0.0%	2.3%	-3.9%	4.3K	-672.3K	-164	0.00	96.78	N/A	N/A	0	0	68	32
2023-07-20	$102.97	$0.00	21.3%	6.1%	13.2%	17.4%	0.0%	2.0%	-14.4%	10.6K	-636.6K	-190	0.00	84.83	N/A	N/A	0	0	68	32
2023-07-21	$103.04	$0.00	18.2%	5.2%	13.2%	12.4%	0.0%	0.6%	3.7%	13.4K	-569.9K	-181	0.00	104.91	N/A	N/A	0	0	68	32
2023-07-24	$103.00	$0.00	15.9%	4.6%	12.7%	8.6%	0.0%	6.4%	-2.8%	3.9K	-45.2K	-159	0.00	104.02	N/A	N/A	0	0	8	0
2023-07-25	$103.78	$0.00	15.7%	4.5%	12.7%	8.2%	0.0%	3.4%	-1.5%	4.6K	-47.9K	-159	0.00	84.30	N/A	N/A	0	0	8	0
2023-07-26	$103.14	$0.00	14.9%	4.3%	12.5%	7.0%	0.0%	9.6%	-3.0%	4.3K	-42.0K	-158	0.00	113.12	N/A	N/A	0	0	8	0
2023-07-27	$102.11	$0.00	25.6%	7.3%	13.2%	24.3%	0.0%	-11.1%	-2.1%	3.5K	-36.8K	-156	0.00	118.47	N/A	N/A	0	0	8	0
2023-07-28	$103.11	$0.00	17.1%	4.9%	13.4%	10.5%	0.0%	6.5%	5.4%	4.9K	-39.5K	-156	0.00	118.01	N/A	N/A	0	0	8	0
2023-07-31	$103.88	$0.00	19.3%	5.5%	12.7%	14.1%	0.0%	-1.2%	-11.9%	4.0K	-48.4K	-153	0.00	111.44	N/A	N/A	0	0	8	0