FRMEP First Merchants Corporation Depository Shares

XNAS
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Stock quote, options chain, IV rank, technicals, AI analysis, and institutional ownership. Iron condor setups Fibonacci levels Insider trading

Market data may be delayed, incomplete, or inaccurate. Not a recommendation to buy, sell, or hold any security. Verify quotes with your broker before trading. See Terms §17.

FRMEP — —
Key stats
About
Industry (SIC)
NATIONAL COMMERCIAL BANKS (6021) · industry map
Exchange
XNAS
Employees
2,086
List Date
2022-04-01
CIK
0000712534
Headquarters
Muncie, IN
Homepage
https://www.firstmerchants.com

First Merchants Corp, through its subsidiaries, provides its customers with financial services delivered locally by bankers. It offers personal banking, business banking, real estate mortgage lending, cash management services, brokerage, wealth management, and insurance. The company reports in only one segment, which is community banking.

Summary
—
composite
—
No summary data available for this symbol yet.

Each spoke is this symbol's rank within its sector (0–100; the dotted ring marks the sector median at 50). Higher is more constructive for a long. One spoke — News sentiment — is an absolute reading, not a sector rank. Grayed spokes have no data. A fuller shape is a summary, not a recommendation.

Chart
Seasonality
'22'23'24'25'26Avg
Jan--1.69%3.80%-0.53%0.04%1.25%
Feb---1.72%-1.61%0.99%-0.06%-0.60%
Mar---6.26%0.48%-2.44%0.93%-1.82%
Apr-0.32%-1.61%0.20%0.73%-2.83%-0.77%
May0.35%-3.92%0.73%0.79%-1.38%-0.69%
Jun-1.53%-1.05%-1.80%0.97%2.35%-0.21%
Jul-0.65%1.19%1.50%-0.28%-1.37%0.08%
Aug0.19%-0.90%-0.64%0.89%0.80%0.07%
Sep-2.83%0.58%0.99%0.00%1.25%-0.00%
Oct0.13%-1.23%1.65%0.19%0.46%*0.24%
Nov1.31%1.95%-0.46%-0.57%--0.56%
Dec-0.04%3.02%0.16%0.00%--0.79%
Total-3.40%-8.31%4.98%0.69%0.09%-1.19%
Technical Indicators

Quick-reference for reading the values below. Indicators combine to confirm a view — no single one is a trade signal on its own.

Trend Indicators
  • SMA 20 / 50 / 200 — price above = uptrend, below = downtrend. SMA 50 crossing SMA 200 is the golden/death cross.
  • EMA 12 / 26 — faster-reacting averages; 12 above 26 is short-term bullish.
  • MACD — bullish when MACD > signal (green badge), bearish when below. Divergence from price often precedes reversals.
  • ADX (14) — trend strength regardless of direction. <20 range, 20–25 weak trend, 25–50 trend, >50 strong trend.
  • +DI / −DI — +DI > −DI favors bulls; the reverse favors bears. Read alongside ADX.
Momentum Oscillators
  • RSI (14) — <30 oversold, >70 overbought. 40–60 is neutral; trending names can stay extreme.
  • Stochastic %K / %D — <20 oversold, >80 overbought. %K crossing %D is an early momentum signal.
  • Williams %R — inverted scale: <−80 oversold, >−20 overbought.

Oscillators work best in range-bound markets; in strong trends they give premature reversal signals.

Volume & Volatility
  • Bollinger Bands — price at upper band = overbought, lower = oversold. Narrow bands (squeeze) often precede expansion.
  • OBV — cumulative volume; rising OBV confirms uptrend, falling OBV confirms downtrend. Divergence from price is a warning.
  • Vol SMA 20 / Vol ROC — today's volume vs. 20-day average. Positive ROC with price move = conviction.
  • ATR / True Range — average daily $ move; sizing and stop-loss reference.
  • HV 20 / 30 / 60 — realized (historical) volatility. Compare to IV on the options cards: IV > HV = rich premium.

Confluence matters: trend + momentum + volume agreeing carries far more weight than any single indicator. For how these feed the spread scanner score, see the algorithm docs →

Trend Indicators

SMA 20: $25.22
SMA 50: $25.30
SMA 200: $25.59
Current: $25.30
EMA 12: $25.26
EMA 26: $25.25
MACD: 0.0100 | Signal: 0.0163
BEARISH
ADX (14): 11.71
RANGE
+DI: 35.52
−DI: 34.13

Momentum Oscillators

RSI (14): 51.66
NEUTRAL
Stoch %K: 64.88
Stoch %D: 75.07
Williams %R: -30.36

Volume & Volatility

BB Upper: $25.41
BB Lower: $25.04
NEUTRAL
OBV: -23,796
Vol SMA 20: 1,037
Vol ROC: 81.98%
ATR: $0.15
True Range: $0.13
HV 20: 6.9%
HV 30: 10.7%
HV 60: 14.3%

Data Summary

Data Points: 500
Last Updated:
Date Range: 2023-10-19T00:00:00 – 2026-10-22T00:00:00
AI Analysis

LLM Stock Analysis Report: FRMEP

Executive Summary

Overall Assessment: BEARISH with confidence level 6/10

Key Drivers:

  • Negative beta (-0.03) indicating a strong inverse correlation to market movements
  • Recent RSI reading of 49.22 suggests neutral momentum, which may be indicative of consolidation or a potential sell signal

Primary Risks:

  • Bearish MACD and Histogram signals suggesting continued downward pressure
  • Volatility indicators (ATR and True Range) suggesting increased uncertainty

Investment Thesis:

FRMEP is likely to experience further downside pressure due to its negative beta and bearish momentum. However, the recent RSI reading suggests a potential sell signal may be forming, which could lead to a short-term bounce.

Recent News Sentiment Impact:

No recent news available, but the absence of significant news events may be contributing to the stock's consolidation.

Technical Analysis

Trend Direction:

  • Short-term (1-4 weeks): BEARISH
  • Medium-term (1-3 months): NEUTRAL
  • Long-term (3-12 months): BULLISH

Support/Resistance Levels:

  • Lower band of the Bollinger Bands ($25.39) serving as key support
  • Upper band ($26.25) serving as key resistance
  • SMA 20 and 50 ($25.82) providing a floor for potential bounces

Momentum Signals:

  • RSI interpretation: NEUTRAL (49.22)
  • MACD signal: BEARISH (below zero line with negative histogram)
  • Bollinger Bands position: NEUTRAL (price within the bands)

Volume Analysis:

  • Volume SMA 20: 1906.15 indicating increasing volume
  • On-Balance Volume (OBV) -69087.00 suggesting a potential reversal
  • Volume Rate of Change: 114.13% indicating increased trading activity

News & Sentiment Analysis

Recent Headlines Summary: No recent news available.

Sentiment Assessment: NEUTRAL (absence of significant news events)

Catalyst Identification: None

Market Narrative: The lack of significant news events may be contributing to the stock's consolidation, which could lead to a potential bounce or reversal.

Risk & Volatility Assessment

Beta Interpretation: High risk due to negative beta (-0.03) indicating an inverse correlation to market movements

Volatility Regime: Increased volatility (ATR and True Range) suggesting uncertainty

Options Market Signals: No options data available.

Downside Protection: The lower band of the Bollinger Bands ($25.39) serving as key support for potential bounces.

Market Context & Positioning

Sector Performance: FRMEP is outperforming its sector, which may be contributing to its recent strength.

Institutional Activity: No significant institutional activity observed.

Correlation Analysis: FRMEP's negative beta suggests an inverse correlation to market movements, which may lead to further downside pressure.

Relative Valuation: FRMEP is trading within a relatively narrow range, which may indicate a potential reversal or bounce.

Key Levels & Action Items

Critical Price Levels:

  • Lower band of the Bollinger Bands ($25.39) serving as key support
  • Upper band ($26.25) serving as key resistance

Breakout/Breakdown Levels: None observed, but the recent RSI reading may be indicative of a potential sell signal.

Time-Sensitive Catalysts: None available.

Risk Management: Stop-loss levels at $24.50 and position sizing considerations to mitigate potential downside risk.

Note: This report provides an objective analysis of the stock's performance using specific data points, highlighting both bullish and bearish cases. The assessment is based on the provided data and does not contain buy or sell recommendations.

Generated

FRMEP Options Activity & IV Rank

Loading options activity...
Spread Scanner GPU
Full Algorithm Docs ↗

Each spread is ranked by a composite score built in three stages. Full documentation →

Stage 1 — Base Score (GPU scanner)

score = P(profit) × (credit / spread_width)
P(profit) from short leg delta (1 − |delta|), penalised above 85%. Credit uses mid-price to handle illiquid chains fairly.

Stage 2 — Skew Adjustment (±25% cap)

RR and BF (30-delta) from the persisted per-symbol skew snapshot — wing strikes picked by real greeks.delta, not a moneyness proxy. Put skew boosts bull puts, penalises bear calls. High butterfly boosts iron condors. Calendars are skew-neutral.

Stage 3 — Technical Overlay (±50% cap, 5 groups)
Group 1 · Directional Bias (±0.25)
  • RSI <40 bullish / >60 bearish
  • MACD crossover + histogram trend
  • Price vs SMA 50 & SMA 200
Group 2 · Momentum (±0.10)
  • Stochastic %K <20 / >80
  • Williams %R <−80 / >−20
Group 3 · Volatility (up to −0.25 / +0.15)
  • Blended ATR + straddle expected-move penalty
  • Bollinger Band signal (+ counter-trend penalty)
  • BB width — vol contraction boost for ICs
Group 4 · IV Regime (±0.15)
  • IV rank ≥ 75 → strong boost for credit spreads
  • IV rank < 25 → penalty (selling cheap vol)
Group 5 · Liquidity (penalty up to −0.10)
  • Min open interest across all legs
  • OI < 100 → −0.10 · OI < 500 → −0.05

score = base_score × skew_multiplier × tech_multiplier
Both multipliers are shown per spread. Beta is informational only — ATR already captures realized vol. Full algorithm documentation →

Enter a ticker to scan for optimal spread opportunities.

Evaluates all bull put, bear call, iron condor, and calendar spread combinations using GPU-accelerated analysis.

Skew (Wing IV − ATM IV)
DTE:
Wing Δ:
Metric:
Wing vs ATM
IV(put wing) − IV(ATM), in vol points

How much the OTM put trades above (or below) the at-the-money strike. Measures the height of the put-side tail relative to ATM — i.e. how expensive crash insurance is on this name.

  • Positive (typical) — wing IV > ATM IV. Standard equity put skew: portfolios bid up crash protection, so OTM puts trade richer than ATM.
  • Near zero or negative (unusual) — wing IV ≤ ATM IV. Flat or inverted put side. Common when there's no fear demand, in tightly mean-reverting names, or right after an earnings catalyst clears.
  • Percentile vs own 3-yr history: high = wings rich (good time to sell wing premium); low = wings cheap (good time to buy protection).
  • Not directional — high or low wings don't predict up or down moves. It's a price tag on tail insurance, not a forecast.
Risk Reversal
IV(call wing) − IV(put wing), equal delta on each side

Which side of the smile is the market paying up for? Measures the tilt of the surface — call skew vs put skew at matched deltas.

  • Negative (typical) — puts richer than calls. Standard equity behavior: hedging demand makes puts carry a premium. Most large-caps sit in the −1 to −5 vol-point range.
  • Strongly negative (< −5 pts) — heavy downside hedging, elevated fear, or an upcoming catalyst (earnings, FDA, macro event). Worth flagging.
  • Positive — calls richer than puts. Unusual for equities; signals bullish momentum, short-squeeze positioning, or takeover/M&A speculation.
  • Near zero — symmetric surface. Market sees roughly equal up/down risk. Rare for large-caps; more common in commodities and FX.
Reading them together

Wing-vs-ATM tells you how expensive the tails are. Risk Reversal tells you which side is favored. Combined:

  • High wing percentile + deeply negative RR → strong put bid; stress or major event priced in. Owning protection costs a premium; selling put premium is dangerous.
  • Low wing percentile + near-zero RR → complacency; insurance cheap and balanced. Good environment to add cheap downside hedges.
  • Positive RR + elevated wings → call-side fear-of-missing-out; common in squeeze setups. Upside calls expensive, downside puts not bid.
14 DTE / 10d —
— pts EXTREME
ATM — / Wing —
30 DTE / 10d —
— pts EXTREME
ATM — / Wing —

Percentile is the rank of today's reading within ~3 years of this symbol's own history. High percentile = wings are rich relative to history; not a directional signal. Skew is read off the chain in real time, not from CBOE SKEW.

Volatility Surface

Enter a ticker to render the implied volatility surface.

Volatility Smile

Enter a ticker to render the implied volatility smile.

IV Rank (7 DTE)
IV Rank (30 DTE)
Straddle Price (30 DTE)
Beta Analysis

Risk Metrics

Beta: -0.0656
Alpha: -0.72%
Correlation: -0.0595
R-Squared: 0.4%
Stock Volatility: 14.8%
Market Volatility: 13.4%

Analysis Details

Benchmark: SPY
Data Points: 149
Period: 252 trading days
Interpretation:
Negative beta - stock moves opposite to market
Beta & Alpha Over Time

FRMEP Institutional Ownership (13F)

Latest filings — 2026-06-30

Institutional managers with $100M+ AUM file Form 13F-HR quarterly, due 45 days after quarter end. Holdings are reported gross at quarter-end market value — they are a snapshot, not a real-time position.

  • Shares — long equity positions in this name, aggregated across share classes.
  • Calls / Puts — notional value of long call / put exposure where this ticker is the underlying.
  • % of Float — holder's reported shares divided by the latest diluted shares outstanding. Sums above 100% indicate large custodian / prime broker positions where the same shares are reported by multiple filers.
  • Custodian badge — filers with more than 5,000 holdings are typically broker-dealers / custodians reporting customer-held shares, not active managers.

Each filer is counted once at its latest 13F-HR filing. New filings are ingested on a weekly cadence.

1 filers4,032 shares$232.85K value
# Filer Shares Value % of Total % of Float Period
1 Diversified Trust Co 4,032 $232.85K 100.00% — 2026-06-30
# Filer Notional Value % of Total Period
# Filer Notional Value % of Total Period

FRMEP Insider Trading (Form 4)

Latest: 2026-10-02
Form 4 filings — insider beneficial-ownership changes by officers, directors, and 10%+ holders. Filed within 2 business days of transaction.
Filed Reporter Role Action Shares Avg Price Net $ Link
2026-10-02 Paul G Fultz Director Award (A) +569 $39.78 $22.6K EDGAR
2026-10-02 Jason R Sondhi Director Award (A) +589 $39.78 $23.4K EDGAR
2026-10-02 Michael J Fisher Director Award (A) +549 $39.78 $21.8K EDGAR
2026-10-02 Susan W Brooks Director Award (A) +569 $39.78 $22.6K EDGAR
2026-10-02 Kevin D Johnson Director Award (A) +549 $39.78 $21.8K EDGAR
2026-10-02 Michael C Rechin Director Award (A) +608 $39.78 $24.2K EDGAR
2026-10-02 Howard Halderman Director Award (A) +589 $39.78 $23.4K EDGAR
2026-10-02 Jean L Wojtowicz Director Award (A) +785 $39.78 $31.2K EDGAR
2026-10-02 Michael R Becher Director Award (A) +608 $39.78 $24.2K EDGAR
2026-10-02 Larry W Myers Director Award (A) +569 $39.78 $22.6K EDGAR
2026-10-02 Clark C Kellogg Director Award (A) +569 $39.78 $22.6K EDGAR
2026-09-22 Stephan Fluhler Chief Information Officer Grant (A) +80 RSU — EDGAR
2026-09-22 Mark K Hardwick Chief Executive Officer Grant (A) +30 RSU — EDGAR
2026-08-21 Stephan Fluhler Chief Information Officer Sell (S) −4,080 $43.20 -$176.3K EDGAR
2026-08-12 Eva D. Scurlock Chief Risk Officer Mixed +3,776 $43.60 $164.9K EDGAR
Codes: P = open-market purchase · S = open-market sale · A = grant/award · M = option exercise · F = tax withholding at vest · G = bona-fide gift · D = disposition to issuer · J = other (described in filing footnote — typically 401(k), trust, inheritance) · W = will/inheritance. Only P / S codes carry directional signal.

FRMEP Insider Holdings

23 insiders · @ $25.30
Officers, directors, and 10%+ owners who have filed a Form 4 in the past two years, ranked by current disclosed exposure (shares × today's price). Shares are direct + indirect (via trusts / LLCs / spouse). Excludes unvested RSU and option grants — those aren't beneficially owned until vest.
# Insider Role Shares Disclosed Exposure Lifetime OM Net Filings Last Filed
1 Larry W Myers First Vice President 243,120 $6.15M -$1.25M 6 2026-10-02
2 Mark K Hardwick Chief Executive Officer 133,065 $3.37M -$475.9K 40 2026-09-22
3 Michael J Stewart President 123,068 $3.11M -$315.9K 24 2026-08-04
4 Patrick J. Fehring Director 99,880 $2.53M -$2.72M 20 2025-10-02
5 Michael C Rechin Director 96,151 $2.43M -$370.5K 24 2026-10-02
6 Jean L Wojtowicz Director 68,025 $1.72M $0 23 2026-10-02
7 John Martin Chief Credit Officer 63,549 $1.61M $0 10 2026-08-04
8 Michele Kawiecki Chief Financial Officer 61,412 $1.55M $0 11 2026-08-04
9 Gary Lehman Director 53,774 $1.36M -$58.7K 21 2026-04-02
10 Joseph C Peterson Chief Commercial Officer 45,482 $1.15M $0 3 2026-08-04
Lifetime OM Net = signed sum of open-market buys (P) and sells (S) over their career; excludes grants, tax withholdings, and dispositions to issuer. A large negative number is normal for long-tenured executives — they've sold compensation grants over many years.

FRMEP Board & Officers

As of SEC filings through Oct 2, 2026

Directors 13

Officers 9

Changes in the last 10 years (29)
Jun 15, 2026Larry W Myers no longer listed as First Vice President in SEC filings
May 19, 2026The company announced the departure of Gary Lehman from the board in an SEC filing
May 19, 2026Paul G Fultz became a director
Feb 10, 2026Steven C Harris listed as Chief Human Resources Officer (previously Director of Human Resources) in SEC filings
Feb 9, 2026Larry W Myers became a director
Feb 9, 2026Larry W Myers became First Vice President
Jan 1, 2026Eva D. Scurlock became Chief Risk Officer
Nov 14, 2025The company announced the departure of Patrick J. Fehring from the board in an SEC filing
Feb 7, 2025Joseph C Peterson became Chief Commercial Officer
Aug 10, 2023Steven C Harris first listed as Director of Human Resources in an SEC filing
Aug 10, 2023John Martin first listed as Chief Credit Officer in an SEC filing
May 3, 2023Michele Kawiecki first listed as Chief Financial Officer in an SEC filing
Mar 22, 2023Stephan Fluhler first listed as Chief Information Officer in an SEC filing
Feb 8, 2023Mung Chiang became a director
Jun 22, 2022Kevin D Johnson became a director
Jun 22, 2022Jason R Sondhi became a director
May 10, 2022Patrick J. Fehring became a director
Aug 23, 2021Chad Kimball became Chief Risk Officer
Apr 2, 2021Michael J Stewart first listed as President in an SEC filing
Apr 2, 2021Michael C Rechin first listed as a director in an SEC filing
Not reported recently (6)
  • Charles E Schalliol · Last reported as a director in an SEC filing dated Apr 11, 2024
  • William L Hoy · Last reported as a director in an SEC filing dated Apr 4, 2023
  • Patrick A Sherman · Last reported as a director in an SEC filing dated May 3, 2022
  • Michael C Marhenke · Last reported as a director in an SEC filing dated Jul 2, 2021
  • H Douglas Chaffin · Last reported as a director in an SEC filing dated Jul 2, 2021
  • Terry L Walker · Last reported as a director in an SEC filing dated May 13, 2020
Compiled from SEC filings by the company and its directors and officers. Dates are as stated in those filings. Where no filing says when someone left, we show the last filing that listed them.

FRMEP Proposed Insider Sales (Form 144)

Latest: 2026-08-19
Last 30d: 0 filings  ·  Last 90d: 1 filing · $176K notice value · 1 unique filer

What is Form 144? A notice of intent to sell restricted or control stock under Rule 144. Affiliates (officers, directors, 10%+ owners) and holders of restricted shares must file Form 144 when planning to sell more than 5,000 shares or $50,000 in any 3-month rolling window.

How it relates to Form 4: Form 144 is filed before the trade (up to 90 days in advance); Form 4 is filed within 2 business days after the trade executes. Not every Form 144 results in a sale — the filer may cancel or delay. Look for the corresponding Form 4 on the Insider Activity card to confirm a sale actually happened.

10b5-1 plans: Trades made under a pre-scheduled Rule 10b5-1 plan are not discretionary — they execute automatically on dates set months earlier, regardless of news. High 10b5-1 percentages mean less per-filing signal value, though cumulative selling volume still matters.

"Notice value": Aggregate market value the filer wrote into the Form 144 — i.e. the size of the planned sale, not necessarily the executed dollars. An amended notice (Form 144/A) replaces the original it amends, and cancelled notices are dropped, so neither is double-counted above. A filed value that is clearly inconsistent with the share count at the stock's price (a filer typo) shows as a dash and is left out of the totals.

Source & freshness: Sourced from public Form 144 filings. Refreshed daily; new filings typically appear here the morning after they are filed.

Top 90-day filers: Stephan H. Fluhler (1, $176K)
Filed Filer Role Shares Notice Value Planned Sale Broker Plan Link
2026-08-19 Stephan H. Fluhler Chief Information Officer 4,080 $176.3K 2026-08-19 E*TRADE FINANCIAL CORPORATION — EDGAR
2026-06-11 Larry W Myers Director 20,000 $830.0K 2026-06-11 Cetera Investment Services LLC — EDGAR
2026-02-26 Larry W. Myers Director, Officer - First Vice President 25,000 $1.03M 2026-02-26 LPL Financial LLC — EDGAR
2026-02-10 Stephan H. Fluhler Chief Information Officer 4,161 $174.3K 2026-02-10 E*TRADE FINANCIAL CORPORATION — EDGAR
2026-02-04 Scurlock Eva D Chief Risk Officer 3,227 $131.7K 2026-02-04 Broadridge Corporate Issuer Solu… — EDGAR
2025-11-03 Stephan H. Fluhler Chief Information Officer 5,689 $203.4K 2025-11-04 E*TRADE FINANCIAL CORPORATION — EDGAR
2024-12-13 144/A Michael J Stewart President 7,248 $313.0K 2024-12-13 The Charles Schwab Corporation — EDGAR
2024-11-07 Patrick J. Fehring Director 26,437 $1.14M 2024-11-07 FIFTH THIRD SECURITIES INC — EDGAR
2024-08-09 Mark K Hardwick Officer 11,833 $420.8K 2024-08-09 Lincoln Financial Securities Cor… — EDGAR
2024-05-30 Patrick J. Fehring Director 23,936 $778.1K 2024-05-30 Cetera Investment Services LLC — EDGAR
Notice value is the aggregate market value the filer states they intend to sell — not a confirmed transaction. Compare to Insider Activity (Form 4) to see which planned sales actually executed. Market-wide feed: Planned sales (Form 144).
ETF Holders
# ETF Provider Weight $ Exposure ETF AUM As Of
Fundamentals

Quarterly filings sourced from SEC 10-Q / 10-K reports. TTM tiles aggregate the most recent four quarters; bars show the last ~12 quarters oldest → newest.

Metrics
  • Revenue — top-line sales. Look for consistent YoY growth; seasonal businesses need same-quarter comparisons (Q4 '24 vs Q4 '23).
  • Net Income — bottom-line profit after all expenses. Can be volatile from one-time items; red bars = net loss.
  • Diluted EPS — net income per share assuming options/converts are exercised. Direct input to the P/E ratio.
  • Operating Cash Flow — cash generated from core operations, before capex and financing. Harder to manipulate than net income; growing OCF is a quality signal.
How to read the bars
  • Sequential growth — quarter-over-quarter trend. Accelerating bars are a momentum signal.
  • YoY growth — compare to the same quarter a year earlier to remove seasonality.
  • Quality — OCF should roughly track Net Income over time. Large divergence (net income ≫ OCF) flags accruals risk.
  • Margins — scan the bar ratios: Net Income / Revenue tells you margin trend without needing a separate chart.

TTM (trailing-twelve-month) smooths seasonality and is used for the P/E calculation. Filings appear 30–90 days after the period closes.