FORM Options History — August 2012

In August 2012, FORM traded between $5.05 and $5.82. ATM implied volatility averaged 46.1%, placing in the 43.9% IV rank vs the trailing year. The 30-day expected move averaged 11.9%. IV traded above realized volatility by 10.2% (HV 20d: 35.9%). Max pain ranged from $5.00 to $6.00. Net GEX was positive for 23 of 23 trading days. Term structure was in contango for 20 of 23 days. Put/call ratio averaged 2.62.

Notable Days

  • 2012-08-27: Highest Volume — 307 contracts
  • 2012-08-16: Largest IV drop — 47.8% change
  • 2012-08-15: Highest IV Rank — 100.0%
  • 2012-08-01: Largest Expected Move — 16.5%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$5.37$5.05$5.82$5.82$5.09
Max Pain$5.17$5.00$6.00$6.00$5.00
ATM IV46.1%28.8%83.0%57.6%39.6%
Expected Move11.9%8.3%16.5%16.5%11.3%
HV 20d35.9%27.1%39.9%36.5%27.4%
HV 60d41.8%38.2%44.2%43.3%38.2%
IV Rank43.9%12.2%100.0%69.3%29.6%
IV Percentile43.6%4.0%100.0%84.5%22.6%
Term Structure4.0%-11.2%17.8%-11.2%3.8%
VWIV42.7%29.1%57.6%57.6%44.5%
Skew 25d6.4%-17.4%19.8%2.4%14.2%
Skew 10d11.9%-1.4%25.6%6.3%24.7%
Call IV 25d37.3%23.8%49.4%49.4%33.0%
Put IV 25d43.6%26.3%51.7%51.7%47.2%
Bid-Ask Spread %59.1919.62119.8034.5459.46
Gamma HHI0.780.720.820.730.72
Net GEX29.7K20.0K34.7K33.5K20.3K
Net DEX-282.1K-852.0K84.1K-852.0K84.1K
Net VEX-4.1K-5.3K-3.0K-5.3K-3.1K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio2.620.0046.001.290.07
Total Volume109.8261430748222
Total OI5,702.2615,2165,9675,2165,967

Daily Data (23 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2012-08-01$5.82$6.0057.6%16.5%36.5%69.3%57.6%2.4%-11.2%33.5K-852.0K-5.3K1.2934.54N/AN/A21274,1841,032
2012-08-02$5.56$6.0038.4%11.0%38.0%32.6%44.4%-3.9%-1.2%31.3K-514.5K-4.8K0.0079.16N/AN/A23314,1841,057
2012-08-03$5.52$6.0035.6%10.2%37.7%27.3%0.0%18.5%17.8%32.5K-498.0K-4.8K46.0064.48N/AN/A2924,3401,058
2012-08-06$5.46$6.0050.4%12.7%37.6%55.5%44.0%6.8%4.8%32.1K-414.4K-4.7K0.7343.80N/AN/A1421044,3381,112
2012-08-07$5.49$5.0047.7%13.2%36.0%50.4%42.0%5.4%2.2%31.4K-454.4K-4.8K0.2550.05N/AN/A185464,4321,213
2012-08-08$5.29$5.0054.7%13.0%37.4%63.9%37.9%8.0%2.7%29.3K-296.1K-4.4K0.2834.31N/AN/A180504,5691,234
2012-08-09$5.45$5.0045.4%12.9%39.9%46.0%0.0%4.0%1.2%32.3K-360.6K-4.6K0.0019.62N/AN/A1404,6021,284
2012-08-10$5.44$5.0048.6%12.4%39.8%52.3%41.8%4.5%1.0%33.4K-386.9K-4.6K0.2750.78N/AN/A1134,6021,284
2012-08-13$5.45$5.0053.9%12.2%39.6%62.4%0.0%3.8%4.3%32.2K-351.9K-4.5K0.7158.48N/AN/A38274,6021,287
2012-08-14$5.39$5.0071.9%11.5%39.2%96.9%0.0%3.6%9.9%31.9K-315.0K-4.4K0.0051.17N/AN/A2804,5921,287
2012-08-15$5.39$5.0083.0%13.1%37.8%100.0%46.7%5.5%0.9%32.4K-319.2K-4.3K0.3848.79N/AN/A52204,5921,287
2012-08-16$5.48$5.0043.3%12.4%37.7%35.7%0.0%4.9%2.8%34.2K-357.2K-4.4K0.4450.69N/AN/A45204,5781,302
2012-08-17$5.48$5.0034.5%9.9%37.5%21.3%0.0%1.1%16.0%33.9K-347.3K-4.3K0.0056.75N/AN/A1504,5701,300
2012-08-20$5.48$5.0036.1%10.4%36.5%24.0%0.0%4.2%13.5%34.7K-392.7K-4.2K1.0053.63N/AN/A24244,2481,200
2012-08-21$5.44$5.0033.4%9.6%36.5%19.6%0.0%-13.0%1.3%34.0K-323.6K-4.0K1.00118.28N/AN/A38384,2481,224
2012-08-22$5.35$5.0028.8%8.3%36.5%12.2%0.0%-17.4%13.0%30.8K-262.2K-3.9K0.14119.80N/AN/A69104,2861,262
2012-08-23$5.17$5.0042.1%12.1%37.9%33.7%29.1%13.1%0.7%25.1K-84.3K-3.5K1.5776.43N/AN/A671054,3161,272
2012-08-24$5.25$5.0044.3%12.7%32.4%37.2%0.0%19.8%0.5%26.7K-97.5K-3.7K1.1476.30N/AN/A22254,3601,374
2012-08-27$5.28$5.0046.4%13.3%32.8%40.6%0.0%17.4%-2.3%27.7K-100.1K-3.6K0.1557.20N/AN/A266414,3601,370
2012-08-28$5.10$5.0041.0%11.8%34.2%32.0%41.8%14.5%3.5%21.6K32.8K-3.2K2.0847.79N/AN/A25524,4661,411
2012-08-29$5.11$5.0039.8%11.4%30.7%30.0%39.9%14.5%5.8%21.4K42.3K-3.2K0.8350.20N/AN/A12104,4781,463
2012-08-30$5.05$5.0044.5%12.8%27.1%37.6%44.5%14.7%0.3%20.0K80.5K-3.0K1.9359.65N/AN/A41794,4661,459
2012-08-31$5.09$5.0039.6%11.3%27.4%29.6%0.0%14.2%3.8%20.3K84.1K-3.1K0.0759.46N/AN/A208144,4691,498