FVAL Options History — April 2025

In April 2025, FVAL traded between $52.16 and $60.09. ATM implied volatility averaged 32.7%, placing in the 43.0% IV rank vs the trailing year. The 30-day expected move averaged 8.2%. IV traded below realized volatility by 10.2% (HV 20d: 42.9%). Max pain ranged from $54.00 to $54.00. Net GEX was positive for 16 of 21 trading days. Term structure was in contango for 2 of 21 days. Put/call ratio averaged 1.00.

Notable Days

2025-04-07: Highest Volume — 2 contracts
2025-04-28: Largest IV spike — 123.4% change
2025-04-04: Highest IV Rank — 100.0%
2025-04-30: Largest Expected Move — 14.1%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$56.52	$52.16	$60.09	$59.59	$57.84
Max Pain	$54.00	$54.00	$54.00	$54.00	$54.00
ATM IV	32.7%	20.2%	62.7%	20.2%	49.1%
Expected Move	8.2%	4.4%	14.1%	4.4%	14.1%
HV 20d	42.9%	19.4%	51.6%	19.4%	51.0%
HV 60d	26.9%	14.5%	31.6%	14.6%	31.6%
IV Rank	43.0%	13.3%	100.0%	22.3%	72.3%
IV Percentile	89.8%	73.0%	100.0%	77.8%	99.2%
Term Structure	-5.8%	-20.4%	4.8%	-4.7%	-17.4%
VWIV	31.4%	31.4%	31.4%	31.4%	31.4%
Skew 25d	2.8%	0.9%	6.8%	2.2%	2.7%
Skew 10d	2.9%	-3.5%	9.7%	2.2%	4.8%
Call IV 25d	30.1%	15.5%	59.6%	22.8%	59.6%
Put IV 25d	32.9%	17.6%	62.3%	25.0%	62.3%
Bid-Ask Spread %	141.26	128.60	159.79	137.53	159.50
Gamma HHI	0.80	0.50	1.00	0.50	1.00
Net GEX	126	0	316	0	166
Net DEX	-2.9K	-5.2K	0	0	-4.4K
Net VEX	-4	-10	0	0	-4
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	1.00	1.00	1.00	1.00	1.00
Total Volume	0.095	0	2	0	0
Total OI	1.143	0	2	0	1

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	P/C	Spread %	Call Wall	Put Wall	Call Vol	Put Vol	Call OI	Put OI
2025-04-01	$59.59	$0.00	20.2%	4.4%	19.4%	22.3%	0.0%	2.2%	-4.7%	0	0	0	0.00	137.53	N/A	N/A	0	0	0	0
2025-04-02	$60.09	$0.00	20.5%	4.6%	19.5%	23.6%	0.0%	2.0%	-0.3%	0	0	0	0.00	136.15	N/A	N/A	0	0	0	0
2025-04-03	$57.35	$0.00	32.4%	6.4%	25.0%	64.5%	0.0%	1.6%	-3.6%	0	0	0	0.00	151.69	N/A	N/A	0	0	0	0
2025-04-04	$54.71	$0.00	43.0%	8.1%	29.2%	100.0%	0.0%	1.0%	-4.7%	0	0	0	0.00	143.53	N/A	N/A	0	0	0	0
2025-04-07	$53.41	$0.00	60.4%	10.2%	29.2%	100.0%	31.4%	4.5%	-9.1%	0	0	0	1.00	144.11	N/A	N/A	1	1	0	0
2025-04-08	$52.16	$54.00	62.7%	10.0%	29.9%	100.0%	0.0%	1.6%	-9.6%	8	-583	-10	0.00	128.60	N/A	N/A	0	0	1	1
2025-04-09	$57.27	$54.00	28.6%	8.2%	46.5%	30.3%	0.0%	4.7%	-5.9%	85	-3.9K	-7	0.00	151.40	N/A	N/A	0	0	1	1
2025-04-10	$54.98	$54.00	32.0%	9.2%	48.4%	37.3%	0.0%	2.7%	-5.9%	57	-2.8K	-8	0.00	130.89	N/A	N/A	0	0	1	1
2025-04-11	$56.47	$54.00	32.0%	9.2%	48.9%	37.2%	0.0%	6.8%	-4.9%	65	-3.3K	-7	0.00	148.19	N/A	N/A	0	0	1	1
2025-04-14	$57.22	$54.00	25.9%	7.4%	49.0%	24.8%	0.0%	4.2%	-2.2%	140	-4.3K	-5	0.00	143.78	N/A	N/A	0	0	1	1
2025-04-15	$56.76	$54.00	21.5%	6.2%	49.0%	15.8%	0.0%	3.9%	-1.3%	200	-4.6K	-4	0.00	133.81	N/A	N/A	0	0	1	1
2025-04-16	$55.34	$54.00	26.1%	7.5%	49.4%	25.2%	0.0%	1.2%	-8.9%	125	-3.2K	-6	0.00	141.15	N/A	N/A	0	0	1	1
2025-04-17	$55.73	$54.00	22.0%	6.3%	49.5%	16.8%	0.0%	3.0%	4.8%	219	-3.8K	-6	0.00	135.63	N/A	N/A	0	0	1	1
2025-04-21	$54.27	$54.00	27.3%	7.8%	50.1%	27.7%	0.0%	2.7%	-2.0%	300	-3.0K	-6	0.00	128.98	N/A	N/A	0	0	1	0
2025-04-22	$55.63	$54.00	23.2%	6.6%	50.4%	19.3%	0.0%	2.1%	-1.9%	316	-3.8K	-5	0.00	131.24	N/A	N/A	0	0	1	0
2025-04-23	$56.43	$54.00	23.3%	6.7%	50.8%	19.5%	0.0%	0.9%	-5.8%	258	-4.3K	-4	0.00	130.73	N/A	N/A	0	0	1	0
2025-04-24	$57.60	$54.00	20.3%	5.8%	51.5%	13.3%	0.0%	3.3%	0.9%	194	-5.1K	-3	0.00	132.86	N/A	N/A	0	0	1	0
2025-04-25	$57.81	$54.00	20.9%	6.0%	51.6%	14.7%	0.0%	2.6%	-1.3%	182	-5.2K	-3	0.00	137.31	N/A	N/A	0	0	1	0
2025-04-28	$58.00	$54.00	46.8%	13.4%	51.1%	67.5%	0.0%	2.3%	-17.9%	163	-4.4K	-4	0.00	159.62	N/A	N/A	0	0	1	0
2025-04-29	$58.25	$54.00	49.0%	14.0%	51.0%	71.9%	0.0%	3.1%	-20.4%	159	-4.5K	-4	0.00	159.79	N/A	N/A	0	0	1	0
2025-04-30	$57.84	$54.00	49.1%	14.1%	51.0%	72.3%	0.0%	2.7%	-17.4%	166	-4.4K	-4	0.00	159.50	N/A	N/A	0	0	1	0