FORM Options History — February 2013

In February 2013, FORM traded between $4.88 and $5.13. ATM implied volatility averaged 37.0%, placing in the 25.5% IV rank vs the trailing year. The 30-day expected move averaged 10.3%. IV traded above realized volatility by 11.8% (HV 20d: 25.2%). Max pain ranged from $5.00 to $5.00. Net GEX was positive for 19 of 19 trading days. Term structure was in contango for 14 of 19 days. Put/call ratio averaged 0.49.

Notable Days

  • 2013-02-06: Highest Volume — 871 contracts
  • 2013-02-06: Largest IV spike — 50.9% change
  • 2013-02-06: Highest IV Rank — 65.7%
  • 2013-02-06: Largest Expected Move — 13.1%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$5.03$4.88$5.13$5.09$5.02
Max Pain$5.00$5.00$5.00$5.00$5.00
ATM IV37.0%32.0%61.8%39.0%32.7%
Expected Move10.3%9.2%13.1%11.3%9.4%
HV 20d25.2%21.2%30.7%27.5%29.7%
HV 60d32.7%29.9%36.6%36.6%30.9%
IV Rank25.5%17.4%65.7%28.6%18.5%
IV Percentile31.1%13.5%98.8%39.7%17.1%
Term Structure0.9%-4.1%4.7%-0.5%2.4%
VWIV37.3%32.8%45.7%40.3%32.8%
Skew 25d5.1%-4.0%9.5%9.0%9.4%
Skew 10d7.5%-7.0%18.5%7.8%16.6%
Call IV 25d31.2%25.9%36.0%25.9%34.7%
Put IV 25d36.4%31.9%44.1%35.0%44.1%
Bid-Ask Spread %14.328.2623.678.2618.38
Gamma HHI0.640.510.910.520.60
Net GEX34.7K13.9K90.9K19.9K18.0K
Net DEX-318.9K-560.2K-167.7K-342.0K-236.9K
Net VEX-2.8K-3.1K-2.5K-2.9K-2.7K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.490.003.001.000.00
Total Volume990871082
Total OI3,804.1583,2314,3293,2313,831

Daily Data (19 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2013-02-01$5.09$0.0039.0%11.3%27.5%28.6%0.0%9.0%-0.5%19.9K-342.0K-2.9K0.008.26N/AN/A002,616615
2013-02-04$5.11$0.0045.7%11.5%25.9%39.5%40.3%7.0%-0.4%19.6K-367.2K-2.9K1.0012.14N/AN/A10102,616615
2013-02-05$5.07$5.0041.0%11.4%24.4%31.9%0.0%7.8%0.3%20.0K-349.7K-2.9K0.009.82N/AN/A0102,626625
2013-02-06$5.10$5.0061.8%13.1%22.9%65.7%45.7%6.9%-4.1%18.2K-364.2K-2.9K0.2411.43N/AN/A7051662,626635
2013-02-07$5.03$5.0039.1%11.2%23.7%28.9%0.0%4.6%-2.8%48.4K-438.2K-3.1K0.1011.75N/AN/A101103,261777
2013-02-08$5.00$5.0035.9%10.3%23.8%23.7%35.9%3.7%1.1%55.6K-426.2K-3.0K0.218.48N/AN/A102213,312787
2013-02-11$4.89$5.0037.3%10.7%21.9%25.9%37.3%0.1%-1.0%50.1K-231.9K-2.7K0.459.37N/AN/A118533,304808
2013-02-12$4.88$5.0035.3%10.1%21.2%22.8%35.3%-0.6%1.2%48.6K-221.7K-2.7K0.8111.67N/AN/A37303,395841
2013-02-13$4.96$5.0034.3%9.8%21.4%21.1%0.0%1.9%1.1%89.2K-303.9K-2.8K3.008.51N/AN/A10303,420871
2013-02-14$5.09$5.0033.9%9.7%21.8%20.4%0.0%9.5%2.8%64.5K-560.2K-3.0K0.0019.58N/AN/A5003,428901
2013-02-15$5.02$5.0033.2%9.5%22.0%19.3%0.0%8.1%1.1%90.9K-432.4K-2.9K0.0017.73N/AN/A1003,391901
2013-02-19$5.13$5.0034.1%9.8%23.3%20.7%34.0%4.8%0.5%14.8K-270.9K-2.9K0.0014.95N/AN/A10002,639889
2013-02-20$5.03$5.0033.8%9.7%24.1%20.2%0.0%8.8%2.0%15.8K-248.4K-2.8K0.0022.69N/AN/A032,739889
2013-02-21$4.93$5.0032.0%9.2%25.0%17.4%0.0%-4.0%2.4%13.9K-167.7K-2.5K1.0014.48N/AN/A84842,739890
2013-02-22$5.13$5.0032.8%9.4%28.5%18.6%32.8%3.6%2.7%17.4K-307.9K-3.0K0.0023.67N/AN/A4002,823974
2013-02-25$4.98$5.0035.7%10.2%30.5%23.3%0.0%0.5%0.2%16.6K-220.9K-2.7K0.0015.40N/AN/A0132,861974
2013-02-26$5.08$5.0032.8%9.4%30.7%18.6%0.0%8.1%4.7%18.1K-268.1K-2.8K0.0013.31N/AN/A202,861968
2013-02-27$5.10$5.0033.0%9.5%30.6%19.0%0.0%8.5%2.7%18.6K-301.5K-2.8K0.0020.50N/AN/A002,863968
2013-02-28$5.02$5.0032.7%9.4%29.7%18.5%0.0%9.4%2.4%18.0K-236.9K-2.7K0.0018.38N/AN/A8202,863968