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First Trust Short Duration Managed Municipal ETF FSMB

i

Market dataready · fetched 2026-11-11T13:44:59.630Z

Delta surfaceAlpaca · derived absolute-delta buckets · 2026-11-20

Calculation methodology

Options historyIV: ThetaData historical Greeks, equal-weight mean of call/put 50-delta IV across the next four listed Friday-cycle expirations, including holiday shifts verified against ThetaData’s market calendar. Missing inputs leave gaps. Skew: equal-weight mean of put minus call IV across those four expirations. IV-implied move history: mean of each expiration’s average call/put IV multiplied by the square root of remaining calendar days divided by 365.25; percentage of spot, not a quoted straddle premium.

History data

PriceAlpaca · sip · 2026-11-11T01:00:00.10551678Z

FundamentalsAlpha Vantage · ready · fetched 2026-11-11T13:44:59.259130+00:00

Share price$19.84
1D+0.0%
AH$19.80$19.81$19.83$19.84$19.855:30 AM6:30 AM9:00 AM1:00 PM2:00 PMFSMB
Sold putSold callAH

First Trust Short Duration Managed Municipal ETF options

Live interpolated FSMB call and put midpoint premiums by absolute delta.First Trust Short Duration Managed Municipal ETF$0.34$0.79$1.23$1.68$2.12$16.50$17.50$18.50$19.50$20.5020Δ25Δ30Δ35Δ40Δ45Δ50Δ55Δ60Δ65Δ70Δ75Δ80Δ25Δ C unavailable: no unambiguous, price-consistent delta bracketC —30Δ C unavailable: no unambiguous, price-consistent delta bracketC —OPTION PRICELive FSMB spot · $19.84FSMB PRICE$0.63$0.39$0.48$0.56$0.65$0.75$0.84$0.94$1.03$1.15$1.33$0.63$0.63$0.72$0.85$0.97$1.10$1.23$1.36$1.48$1.61$1.74$1.87$1.99
PutsExpensive10.22×
Calls——
Skew——
Implied moveBearish±$1.88
Tilt——
Table
Values and derived Greeks for the plotted delta buckets
DeltaCallsPuts
Pseudo strikeIVB/E movePseudo strikeIVB/E move
20Δ27.60204.9%42.3%16.57157.4%19.6%
25Δ17.74121.0%13.7%
30Δ18.24109.2%11.7%
35Δ20.5249.3%5.4%18.56104.3%10.7%
40Δ20.3351.3%4.9%18.8799.4%9.8%
45Δ20.1353.3%4.4%19.1994.5%8.8%
50Δ19.9454.2%3.8%19.5189.6%7.8%
55Δ19.7452.6%3.3%19.8384.7%6.9%
60Δ19.5450.9%2.8%20.1579.8%5.9%
65Δ19.3449.2%2.2%20.4774.9%4.9%
70Δ19.1547.6%1.7%20.7870.0%4.0%
75Δ18.9445.8%1.3%21.1065.1%3.0%
80Δ18.7143.8%1.0%21.4260.3%2.1%

20Δ

Calls
Pseudo strike
27.60
IV
204.9%
B/E move
42.3%
Puts
Pseudo strike
16.57
IV
157.4%
B/E move
19.6%

25Δ

Calls
Pseudo strike
IV
B/E move
Puts
Pseudo strike
17.74
IV
121.0%
B/E move
13.7%

30Δ

Calls
Pseudo strike
IV
B/E move
Puts
Pseudo strike
18.24
IV
109.2%
B/E move
11.7%

35Δ

Calls
Pseudo strike
20.52
IV
49.3%
B/E move
5.4%
Puts
Pseudo strike
18.56
IV
104.3%
B/E move
10.7%

40Δ

Calls
Pseudo strike
20.33
IV
51.3%
B/E move
4.9%
Puts
Pseudo strike
18.87
IV
99.4%
B/E move
9.8%

45Δ

Calls
Pseudo strike
20.13
IV
53.3%
B/E move
4.4%
Puts
Pseudo strike
19.19
IV
94.5%
B/E move
8.8%

50Δ

Calls
Pseudo strike
19.94
IV
54.2%
B/E move
3.8%
Puts
Pseudo strike
19.51
IV
89.6%
B/E move
7.8%

55Δ

Calls
Pseudo strike
19.74
IV
52.6%
B/E move
3.3%
Puts
Pseudo strike
19.83
IV
84.7%
B/E move
6.9%

60Δ

Calls
Pseudo strike
19.54
IV
50.9%
B/E move
2.8%
Puts
Pseudo strike
20.15
IV
79.8%
B/E move
5.9%

65Δ

Calls
Pseudo strike
19.34
IV
49.2%
B/E move
2.2%
Puts
Pseudo strike
20.47
IV
74.9%
B/E move
4.9%

70Δ

Calls
Pseudo strike
19.15
IV
47.6%
B/E move
1.7%
Puts
Pseudo strike
20.78
IV
70.0%
B/E move
4.0%

75Δ

Calls
Pseudo strike
18.94
IV
45.8%
B/E move
1.3%
Puts
Pseudo strike
21.10
IV
65.1%
B/E move
3.0%

80Δ

Calls
Pseudo strike
18.71
IV
43.8%
B/E move
1.0%
Puts
Pseudo strike
21.42
IV
60.3%
B/E move
2.1%

Options history

IV · four-Friday blend35.21%
Daily close
FSMB30.9%53.6%76.4%2026-08-13: 43.93%2026-08-14: 44.89%2026-08-17: 50.33%2026-08-18: 53.97%2026-08-19: 59.56%2026-08-20: 68.89%2026-08-21: 36.04%2026-08-24: 36.48%2026-08-25: 36.87%2026-08-26: 36.73%2026-08-27: 36.96%2026-08-28: 37.40%2026-08-31: 38.40%2026-09-01: 38.80%2026-09-02: 39.16%2026-09-03: 39.37%2026-09-04: 39.91%2026-09-08: 42.46%2026-09-09: 43.70%2026-09-10: 45.82%2026-09-11: 46.83%2026-09-14: 52.37%2026-09-15: 56.53%2026-09-16: 62.96%2026-09-17: 73.24%2026-09-18: 37.03%2026-09-21: 36.01%2026-09-22: 36.08%2026-09-23: 36.84%2026-09-24: 37.62%2026-09-25: 36.89%2026-09-28: 38.61%2026-09-29: 39.22%2026-09-30: 39.45%2026-10-01: 39.45%2026-10-02: 39.72%2026-10-05: 50.06%2026-10-06: 42.70%2026-10-07: 44.08%2026-10-08: 45.20%2026-10-09: 45.86%2026-10-12: 51.91%2026-10-13: 55.38%2026-10-14: 61.99%2026-10-15: 72.39%2026-10-16: 34.06%2026-10-19: 34.44%2026-10-20: 34.50%2026-10-21: 34.75%2026-10-22: 34.43%2026-10-23: 34.51%2026-10-26: 34.87%2026-10-27: 34.87%2026-10-28: 35.16%2026-10-29: 35.32%2026-10-30: 35.21%Aug 13Sep 22Oct 30
56 observations2026-08-13 — 2026-10-30
Table
DateIV (%)
43.93%
44.89%
50.33%
53.97%
59.56%
68.89%
36.04%
36.48%
36.87%
36.73%
36.96%
37.40%
38.40%
38.80%
39.16%
39.37%
39.91%
42.46%
43.70%
45.82%
46.83%
52.37%
56.53%
62.96%
73.24%
37.03%
36.01%
36.08%
36.84%
37.62%
36.89%
38.61%
39.22%
39.45%
39.45%
39.72%
50.06%
42.70%
44.08%
45.20%
45.86%
51.91%
55.38%
61.99%
72.39%
34.06%
34.44%
34.50%
34.75%
34.43%
34.51%
34.87%
34.87%
35.16%
35.32%
35.21%