Itinerant ferromagnetism in cold Fermi gases with repulsive interactions is studied applying the Jastrow-Slater approximation generalized to finite polarization and temperature. For two components at zero temperature, a second-order transition is found at ${\mathit{ak}}_F\simeq 0.90$ compatible with results of quantum-Monte-Carlo (QMC) calculations. Thermodynamic functions and observables, such as the compressibility and spin susceptibility and the resulting fluctuations in number and spin, are calculated. For trapped gases, the resulting cloud radii and kinetic energies are calculated and compared to recent experiments. Spin-polarized systems are recommended for effective separation of large ferromagnetic domains. Collective modes are predicted and tricritical points are calculated for multicomponent systems.

• Received 5 January 2011

DOI:https://doi.org/10.1103/PhysRevA.83.053635