FORM Options History — October 2009

In October 2009, FORM traded between $16.99 and $22.54. ATM implied volatility averaged 49.4%, placing in the 30.3% IV rank vs the trailing year. The 30-day expected move averaged 14.9%. IV traded above realized volatility by 18.3% (HV 20d: 31.1%). Max pain ranged from $15.00 to $25.00. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 3 of 22 days. Put/call ratio averaged 0.27.

Notable Days

  • 2009-10-28: Highest Volume — 3,936 contracts
  • 2009-10-29: Largest IV drop — 25.4% change
  • 2009-10-28: Highest IV Rank — 53.9%
  • 2009-10-28: Largest Expected Move — 17.6%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$19.92$16.99$22.54$22.54$16.99
Max Pain$20.80$15.00$25.00$15.00$20.00
ATM IV49.4%40.6%61.3%43.6%46.2%
Expected Move14.9%12.4%17.6%12.5%13.2%
HV 20d31.1%25.3%40.5%40.5%28.1%
HV 60d35.5%34.4%36.4%35.5%36.1%
IV Rank30.3%16.9%53.9%20.3%30.9%
IV Percentile38.0%11.5%75.0%19.4%30.6%
Term Structure-2.7%-8.5%9.7%9.7%1.5%
VWIV51.2%41.2%59.9%41.2%47.4%
Skew 25d3.1%-5.6%12.8%-5.6%-2.6%
Skew 10d6.6%-11.8%18.1%-11.8%-4.8%
Call IV 25d49.9%34.6%58.9%39.4%49.2%
Put IV 25d52.9%33.8%61.6%33.8%46.6%
Bid-Ask Spread %17.5710.6728.0825.1228.08
Gamma HHI0.360.330.400.370.37
Net GEX483.0K372.2K583.8K415.2K372.2K
Net DEX-16.5M-27.3M-3.8M-27.3M-3.8M
Net VEX-113.8K-128.9K-79.8K-121.7K-79.8K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.270.040.880.260.13
Total Volume1,510.8644593,9365881,595
Total OI32,475.27328,40435,84328,40435,385

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2009-10-01$22.54$15.0043.6%12.5%40.5%20.3%41.2%-5.6%9.7%415.2K-27.3M-121.7K0.2625.12N/AN/A46812023,3445,060
2009-10-02$22.01$15.0043.4%12.4%40.1%20.1%42.6%12.8%7.1%414.3K-25.1M-123.2K0.3120.16N/AN/A66120323,5075,097
2009-10-05$21.72$25.0044.5%15.1%38.1%21.4%52.9%4.7%-4.9%420.2K-23.4M-119.9K0.1514.39N/AN/A74111123,6725,084
2009-10-06$21.78$22.5041.6%14.6%37.1%18.1%53.1%4.0%-4.0%430.6K-24.0M-120.7K0.5914.67N/AN/A40624123,9285,132
2009-10-07$21.48$22.5040.6%14.7%25.4%16.9%51.2%5.9%-3.9%425.1K-22.8M-122.0K0.4015.30N/AN/A1,51060824,1425,356
2009-10-08$21.16$22.5042.5%15.3%25.4%19.1%50.5%4.8%-1.0%456.7K-21.1M-121.6K0.5619.00N/AN/A90951325,1475,823
2009-10-09$20.99$22.5051.6%15.9%25.3%29.5%54.0%4.6%-5.6%444.4K-21.1M-121.5K0.0416.57N/AN/A2,99612225,2105,860
2009-10-12$20.63$22.5056.3%16.3%25.3%35.0%55.8%3.4%-5.5%540.4K-21.7M-126.5K0.3011.81N/AN/A1,15034327,6445,877
2009-10-13$20.37$22.5051.5%16.1%25.3%29.7%54.4%1.7%-5.6%544.0K-19.9M-124.2K0.1015.34N/AN/A1,34213827,9036,143
2009-10-14$20.90$22.5046.1%16.4%28.2%25.3%54.3%3.5%-8.5%573.6K-22.8M-128.9K0.1610.67N/AN/A4046328,3926,156
2009-10-15$20.62$22.5055.3%15.9%28.0%39.1%52.9%3.2%-5.5%583.8K-21.6M-127.8K0.0618.60N/AN/A1,0516228,6376,108
2009-10-16$19.40$22.5055.0%15.8%33.6%38.7%54.5%3.1%-6.0%547.5K-15.7M-117.7K0.1119.71N/AN/A2,15924429,3856,027
2009-10-19$19.30$20.0053.5%15.3%33.4%36.6%53.4%4.5%-4.2%554.0K-13.7M-115.9K0.1712.51N/AN/A1,49826027,4784,815
2009-10-20$19.26$20.0051.7%14.8%31.9%34.3%51.6%2.5%-2.8%542.9K-13.2M-115.0K0.2613.32N/AN/A52713827,5544,969
2009-10-21$19.40$20.0049.4%14.2%31.9%31.2%49.4%4.2%-3.1%578.3K-13.9M-115.4K0.6613.22N/AN/A52134627,7675,045
2009-10-22$19.16$20.0048.7%14.0%31.9%30.4%49.1%4.0%-2.5%547.6K-12.0M-113.1K0.8812.85N/AN/A24421527,9105,293
2009-10-23$18.62$20.0051.2%14.7%32.3%33.6%49.1%3.3%-4.0%491.1K-9.7M-105.4K0.0616.21N/AN/A2,28213227,9545,399
2009-10-26$18.25$20.0052.9%15.2%32.3%35.8%51.5%1.1%-1.2%430.9K-8.4M-100.2K0.0722.45N/AN/A1,94612727,1955,447
2009-10-27$18.07$20.0053.0%15.2%32.2%36.1%52.5%1.0%-2.4%441.4K-7.5M-95.8K0.2823.02N/AN/A90224928,1175,505
2009-10-28$17.87$20.0061.3%17.6%30.9%53.9%59.9%2.6%-6.8%432.8K-7.7M-96.5K0.1322.12N/AN/A3,47446228,4215,725
2009-10-29$17.74$20.0045.8%13.1%26.1%30.3%45.3%0.9%-0.1%440.0K-5.7M-91.7K0.1621.44N/AN/A1,51823829,8645,979
2009-10-30$16.99$20.0046.2%13.2%28.1%30.9%47.4%-2.6%1.5%372.2K-3.8M-79.8K0.1328.08N/AN/A1,40718829,4585,927