FORM Options History — July 2009

In July 2009, FORM traded between $18.05 and $23.35. ATM implied volatility averaged 46.9%, placing in the 24.1% IV rank vs the trailing year. The 30-day expected move averaged 14.6%. IV traded above realized volatility by 0.4% (HV 20d: 46.5%). Max pain ranged from $15.00 to $20.00. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 4 of 22 days. Put/call ratio averaged 1.12.

Notable Days

  • 2009-07-16: Highest Volume — 2,406 contracts
  • 2009-07-16: Largest IV spike — 53.0% change
  • 2009-07-27: Highest IV Rank — 33.3%
  • 2009-07-13: Largest Expected Move — 16.5%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$21.27$18.05$23.35$18.05$23.05
Max Pain$18.30$15.00$20.00$15.00$20.00
ATM IV46.9%32.9%54.9%43.9%40.2%
Expected Move14.6%11.5%16.5%12.6%11.5%
HV 20d46.5%35.7%56.9%51.2%37.1%
HV 60d55.1%47.8%59.0%58.6%48.4%
IV Rank24.1%8.1%33.3%20.7%16.5%
IV Percentile15.2%0.4%39.3%3.2%2.0%
Term Structure-2.1%-7.2%11.1%11.1%1.0%
VWIV50.5%33.5%63.1%40.2%39.9%
Skew 25d8.3%3.2%29.5%14.1%11.4%
Skew 10d12.0%-3.8%38.4%19.4%18.6%
Call IV 25d46.7%23.1%52.9%30.3%34.5%
Put IV 25d55.0%44.4%61.9%44.4%45.8%
Bid-Ask Spread %29.3816.3443.1220.9535.14
Gamma HHI0.350.270.500.440.33
Net GEX132.3K64.1K222.3K157.6K127.8K
Net DEX-12.3M-17.7M-6.5M-6.5M-11.5M
Net VEX-34.0K-38.3K-27.5K-27.9K-37.7K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.120.009.210.239.21
Total Volume551.455142,406102337
Total OI13,753.31811,51616,81012,27713,297

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2009-07-01$18.05$15.0043.9%12.6%51.2%20.7%40.2%14.1%11.1%157.6K-6.5M-27.9K0.2320.95N/AN/A83198,8523,425
2009-07-02$18.64$15.0052.3%15.0%50.1%30.3%52.0%29.5%1.4%140.2K-7.8M-28.7K0.0738.51N/AN/A2,0521508,8713,413
2009-07-06$19.90$17.5047.4%15.9%55.7%24.7%45.1%3.2%-4.7%177.2K-13.5M-27.5K0.3232.84N/AN/A2839110,7193,550
2009-07-07$19.21$17.5051.9%15.7%56.9%29.8%57.9%6.5%-3.0%199.2K-12.0M-29.0K3.4136.40N/AN/A3381,15210,7063,609
2009-07-08$18.97$17.5044.0%15.5%52.3%20.8%53.8%7.8%-2.6%222.3K-11.4M-30.8K0.0025.60N/AN/A14011,0323,936
2009-07-09$19.54$17.5045.4%16.2%52.3%22.4%63.1%10.4%-4.6%161.9K-12.9M-30.7K0.1929.32N/AN/A4117811,0434,163
2009-07-10$19.88$17.5040.3%15.5%52.7%16.6%52.4%3.8%-2.4%64.1K-14.1M-29.0K0.3135.17N/AN/A13411,2134,236
2009-07-13$20.53$17.5040.2%16.5%53.9%16.4%33.5%10.4%-6.3%70.3K-15.3M-28.8K0.0943.12N/AN/A5554911,2174,238
2009-07-14$20.79$17.5039.7%15.2%53.9%15.9%56.7%5.9%-1.5%80.7K-16.3M-31.3K0.9035.87N/AN/A32329011,7354,241
2009-07-15$21.31$17.5032.9%13.9%53.9%8.1%49.5%5.5%-0.5%71.5K-17.3M-34.3K0.2823.83N/AN/A922612,0334,530
2009-07-16$21.55$17.5050.3%14.4%53.2%28.0%53.5%6.9%-2.2%75.2K-17.7M-33.9K0.0119.73N/AN/A2,3842212,1074,556
2009-07-17$21.80$17.5048.8%14.0%49.9%26.2%52.2%7.2%-1.6%132.5K-17.5M-37.2K1.1125.74N/AN/A14916512,2604,550
2009-07-20$21.79$17.5049.9%14.3%47.4%27.5%51.4%9.5%-2.8%113.9K-8.8M-38.3K0.2023.42N/AN/A88188,1683,348
2009-07-21$22.01$20.0051.6%14.8%39.7%29.5%46.5%10.1%-6.8%116.5K-9.2M-38.2K1.1125.29N/AN/A9108,2413,366
2009-07-22$22.82$20.0049.5%14.2%38.9%27.1%56.0%7.4%-1.4%110.6K-10.4M-38.2K0.0331.48N/AN/A383108,2423,364
2009-07-23$23.06$20.0050.6%14.5%38.8%28.4%51.5%3.4%-3.9%118.7K-11.1M-37.6K0.0327.12N/AN/A672208,4543,332
2009-07-24$23.35$20.0049.1%14.1%38.8%26.6%50.7%4.0%0.6%158.6K-12.1M-37.8K0.9332.15N/AN/A27259,0593,352
2009-07-27$23.27$20.0054.9%15.7%38.4%33.3%54.0%4.4%-7.2%156.9K-12.0M-38.1K0.3323.34N/AN/A61209,0753,362
2009-07-28$23.00$20.0050.9%14.6%36.0%28.7%51.3%6.6%-2.6%157.1K-11.6M-38.2K1.2327.42N/AN/A13169,1003,362
2009-07-29$23.00$20.0054.8%15.7%35.7%33.1%55.7%10.0%-4.3%157.6K-11.5M-37.7K3.2916.34N/AN/A2237339,0993,370
2009-07-30$22.33$20.0043.3%12.4%37.1%20.0%43.6%3.8%-2.0%140.7K-10.4M-36.8K1.3037.62N/AN/A3154099,1433,604
2009-07-31$23.05$20.0040.2%11.5%37.1%16.5%39.9%11.4%1.0%127.8K-11.5M-37.7K9.2135.14N/AN/A333049,3173,980