FORM Options History — April 2013

In April 2013, FORM traded between $4.39 and $4.95. ATM implied volatility averaged 36.1%, placing in the 24.0% IV rank vs the trailing year. The 30-day expected move averaged 11.0%. IV traded below realized volatility by 0.4% (HV 20d: 36.5%). Max pain ranged from $3.00 to $5.00. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 8 of 22 days. Put/call ratio averaged 0.31.

Notable Days

  • 2013-04-10: Highest Volume — 1,404 contracts
  • 2013-04-22: Largest IV spike — 52.0% change
  • 2013-04-22: Highest IV Rank — 60.1%
  • 2013-04-22: Largest Expected Move — 16.7%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$4.62$4.39$4.95$4.58$4.95
Max Pain$3.86$3.00$5.00$5.00$3.00
ATM IV36.1%24.3%58.4%24.3%39.4%
Expected Move11.0%7.0%16.7%7.0%11.3%
HV 20d36.5%25.2%47.1%25.2%43.9%
HV 60d30.7%27.0%34.8%28.0%34.4%
IV Rank24.0%4.8%60.1%4.8%29.3%
IV Percentile36.6%1.2%97.6%1.2%50.8%
Term Structure1.2%-11.4%20.3%20.3%0.2%
VWIV41.7%30.4%59.8%39.1%40.7%
Skew 25d-1.2%-18.4%33.2%5.0%2.6%
Skew 10d4.9%-7.3%88.6%7.6%4.2%
Call IV 25d35.5%23.3%47.6%24.2%37.9%
Put IV 25d34.3%26.1%56.5%29.2%40.5%
Bid-Ask Spread %14.769.7221.609.7218.27
Gamma HHI0.550.440.840.840.49
Net GEX15.5K2.5K33.7K6.2K33.7K
Net DEX-169.0K-725.6K158.4K109.8K-725.6K
Net VEX-2.4K-4.3K-801-1.2K-4.3K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.310.002.332.330.00
Total Volume195.72701,4042084
Total OI4,446.8643,7196,0423,7334,715

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2013-04-01$4.58$5.0024.3%7.0%25.2%4.8%0.0%5.0%20.3%6.2K109.8K-1.2K2.339.72N/AN/A6142,793940
2013-04-02$4.44$5.0027.3%7.8%25.8%9.7%0.0%-1.5%15.9%3.8K155.9K-9400.0010.05N/AN/A1002,799954
2013-04-03$4.50$5.0033.9%9.7%25.7%20.4%0.0%-0.3%8.2%4.5K118.8K-1.1K1.0010.20N/AN/A10102,809910
2013-04-04$4.42$5.0030.1%8.6%25.9%14.2%0.0%-2.0%7.3%3.6K133.1K-9520.0011.74N/AN/A002,809920
2013-04-05$4.39$4.0027.9%12.1%25.6%10.7%0.0%0.9%-1.4%2.5K158.4K-8011.9217.24N/AN/A39752,809920
2013-04-08$4.60$4.0026.7%11.2%31.7%8.7%39.1%-8.2%-1.2%6.0K98.2K-1.2K0.2417.83N/AN/A50122,838995
2013-04-09$4.63$4.0029.5%11.0%31.1%13.3%0.0%-6.4%-0.2%6.9K83.8K-1.2K0.4416.70N/AN/A50222,886995
2013-04-10$4.80$4.0025.8%11.5%34.2%7.2%30.4%-3.2%-2.4%10.8K9.1K-1.5K0.0011.92N/AN/A1,40402,9161,017
2013-04-11$4.74$4.0038.3%11.0%34.3%27.5%38.4%-2.3%-1.8%15.4K-89.9K-2.0K0.0013.41N/AN/A7203,5721,017
2013-04-12$4.76$4.0041.7%12.0%34.4%33.1%0.0%-1.9%-4.2%16.8K-126.0K-2.1K0.0014.49N/AN/A5003,6111,017
2013-04-15$4.51$4.0041.3%11.8%38.3%32.4%0.0%-11.1%-4.3%11.5K5.7K-1.7K0.0011.73N/AN/A003,6611,017
2013-04-16$4.73$4.0037.5%10.7%42.4%26.2%0.0%-1.8%2.5%15.8K-88.9K-2.0K0.0021.15N/AN/A1,07303,6611,017
2013-04-17$4.66$4.0042.2%12.1%42.4%33.8%0.0%-7.1%-3.3%21.2K-259.4K-3.2K0.0019.51N/AN/A2804,7081,017
2013-04-18$4.55$4.0037.5%10.7%41.8%26.2%0.0%-11.5%-2.8%16.1K-152.8K-2.7K0.0014.31N/AN/A85004,2811,017
2013-04-19$4.48$4.0038.4%11.0%40.6%27.7%59.8%-18.4%-5.0%18.8K-235.8K-3.3K0.0011.37N/AN/A5005,131911
2013-04-22$4.46$3.0058.4%16.7%40.2%60.1%0.0%33.2%-11.4%18.4K-340.9K-3.2K0.0021.60N/AN/A13104,008346
2013-04-23$4.45$3.0030.3%8.7%40.1%14.5%0.0%5.7%10.0%18.7K-318.0K-3.2K0.0011.10N/AN/A004,138346
2013-04-24$4.51$3.0035.4%10.1%40.6%22.8%0.0%5.3%11.9%20.4K-357.4K-3.4K0.0014.40N/AN/A2004,138346
2013-04-25$4.81$3.0040.6%11.6%47.1%31.2%40.7%-2.4%-1.6%27.5K-588.1K-4.1K0.0014.61N/AN/A16404,158346
2013-04-26$4.84$3.0044.8%12.9%46.7%38.1%0.0%-2.0%-5.5%30.5K-632.7K-4.2K0.0017.49N/AN/A6104,302346
2013-04-29$4.90$3.0043.4%12.4%45.7%35.8%0.0%0.5%-4.3%32.0K-674.4K-4.2K0.0015.84N/AN/A2104,348346
2013-04-30$4.95$3.0039.4%11.3%43.9%29.3%0.0%2.6%0.2%33.7K-725.6K-4.3K0.0018.27N/AN/A8404,369346