FTC Options History — September 2025

In September 2025, FTC traded between $155.00 and $162.72. ATM implied volatility averaged 18.2%, placing in the 5.6% IV rank vs the trailing year. The 30-day expected move averaged 5.0%. IV traded above realized volatility by 6.8% (HV 20d: 11.4%). Max pain ranged from $143.00 to $143.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 7 of 21 days. Put/call ratio averaged 0.00.

Notable Days

2025-09-24: Highest Volume — 5 contracts
2025-09-15: Largest IV spike — 79.1% change
2025-09-15: Highest IV Rank — 12.3%
2025-09-15: Largest Expected Move — 7.8%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$159.56	$155.00	$162.72	$155.31	$160.48
Max Pain	$143.00	$143.00	$143.00	$143.00	$143.00
ATM IV	18.2%	15.2%	27.1%	17.9%	17.3%
Expected Move	5.0%	4.3%	7.8%	5.1%	5.0%
HV 20d	11.4%	10.2%	12.1%	11.5%	10.3%
HV 60d	12.2%	11.8%	12.6%	12.5%	11.9%
IV Rank	5.6%	3.4%	12.3%	5.4%	5.0%
IV Percentile	32.4%	9.1%	84.9%	31.3%	25.4%
Term Structure	-1.1%	-10.8%	3.0%	1.7%	1.7%
Skew 25d	2.7%	-10.9%	11.3%	11.3%	-10.9%
Skew 10d	10.0%	4.5%	20.2%	20.2%	7.3%
Call IV 25d	18.0%	12.5%	23.2%	15.4%	23.2%
Put IV 25d	20.7%	12.4%	27.3%	26.7%	12.4%
Bid-Ask Spread %	138.76	128.76	187.00	187.00	136.90
Gamma HHI	0.94	0.89	0.95	0.95	0.89
Net GEX	76.8K	56.4K	118.2K	98.4K	68.5K
Net DEX	-1.7M	-1.9M	-1.2M	-1.4M	-1.9M
Net VEX	-1.5K	-2.5K	-890	-2.4K	-890
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.00	0.00	0.00	0.00	0.00
Total Volume	0.238	0	5	0	0
Total OI	127.762	127	131	127	131

Daily Data (21 trading days)

Date	Price	Max Pain	ATM IV	Exp Move	HV 20d	IV Rank	VWIV	Skew 25d	Term Str	GEX	DEX	VEX	Spread %	Call Wall	Put Wall	Call Vol	Call OI	Put OI
2025-09-02	$155.31	$0.00	17.9%	5.1%	11.5%	5.4%	0.0%	11.3%	1.7%	98.4K	-1.4M	-2.4K	187.00	N/A	N/A	0	124	3
2025-09-03	$155.00	$0.00	18.5%	5.3%	11.2%	5.9%	0.0%	5.1%	-0.5%	118.2K	-1.2M	-2.5K	180.32	N/A	N/A	0	124	3
2025-09-04	$156.75	$143.00	18.9%	4.9%	11.8%	6.2%	0.0%	3.1%	-1.6%	93.6K	-1.5M	-2.2K	139.06	N/A	N/A	0	124	3
2025-09-05	$156.57	$143.00	19.6%	5.1%	11.7%	6.7%	0.0%	3.3%	-1.6%	91.8K	-1.4M	-2.2K	130.30	N/A	N/A	0	124	3
2025-09-08	$157.97	$143.00	21.9%	5.2%	12.0%	8.4%	0.0%	-0.7%	-1.9%	86.3K	-1.5M	-2.0K	130.88	N/A	N/A	0	124	3
2025-09-09	$158.81	$143.00	22.8%	4.8%	12.1%	9.1%	0.0%	5.3%	0.0%	82.2K	-1.6M	-1.7K	132.98	N/A	N/A	0	124	3
2025-09-10	$159.48	$143.00	15.3%	4.4%	11.4%	3.5%	0.0%	0.4%	-1.1%	76.5K	-1.6M	-1.7K	128.76	N/A	N/A	0	124	3
2025-09-11	$161.06	$143.00	17.7%	5.1%	11.9%	5.3%	0.0%	5.9%	-1.1%	67.1K	-1.7M	-1.4K	130.97	N/A	N/A	0	124	3
2025-09-12	$160.06	$143.00	15.2%	4.3%	11.9%	3.4%	0.0%	1.8%	-2.1%	73.8K	-1.7M	-1.3K	134.42	N/A	N/A	0	124	3
2025-09-15	$160.76	$143.00	27.1%	7.8%	11.9%	12.3%	0.0%	5.9%	-10.8%	65.0K	-1.5M	-1.9K	137.02	N/A	N/A	0	124	3
2025-09-16	$159.92	$143.00	15.6%	4.5%	12.1%	3.7%	0.0%	2.3%	-1.9%	75.5K	-1.7M	-1.4K	134.32	N/A	N/A	0	124	3
2025-09-17	$160.43	$143.00	16.3%	4.7%	11.1%	4.3%	0.0%	2.1%	-3.0%	70.5K	-1.8M	-1.1K	133.30	N/A	N/A	0	124	3
2025-09-18	$162.01	$143.00	18.7%	5.4%	11.4%	6.0%	0.0%	4.3%	-2.2%	61.3K	-1.8M	-1.1K	132.82	N/A	N/A	0	124	3
2025-09-19	$162.30	$143.00	18.4%	5.3%	11.2%	5.8%	0.0%	3.4%	-1.2%	61.1K	-1.8M	-1.1K	134.12	N/A	N/A	0	124	3
2025-09-22	$162.72	$143.00	17.3%	4.9%	10.2%	5.0%	0.0%	4.3%	2.6%	56.4K	-1.8M	-929	132.60	N/A	N/A	0	124	3
2025-09-23	$161.36	$143.00	17.9%	5.1%	10.7%	5.4%	0.0%	1.9%	-3.2%	62.9K	-1.8M	-907	132.33	N/A	N/A	0	124	3
2025-09-24	$160.00	$143.00	17.9%	5.1%	11.2%	5.5%	0.0%	1.2%	-3.7%	76.1K	-1.7M	-1.2K	134.98	N/A	N/A	5	124	3
2025-09-25	$158.86	$143.00	15.4%	4.4%	11.6%	3.6%	0.0%	1.6%	3.0%	87.2K	-1.7M	-1.3K	138.10	N/A	N/A	0	128	3
2025-09-26	$159.88	$143.00	15.7%	4.5%	11.3%	3.8%	0.0%	2.5%	2.5%	74.2K	-1.8M	-989	135.13	N/A	N/A	0	128	3
2025-09-29	$161.03	$143.00	16.8%	4.8%	10.6%	4.6%	0.0%	2.4%	1.6%	65.4K	-1.9M	-913	137.59	N/A	N/A	0	128	3
2025-09-30	$160.48	$143.00	17.3%	5.0%	10.3%	5.0%	0.0%	-10.9%	1.7%	68.5K	-1.9M	-890	136.90	N/A	N/A	0	128	3