FORM Options History — June 2013

In June 2013, FORM traded between $5.99 and $6.96. ATM implied volatility averaged 33.8%, placing in the 22.9% IV rank vs the trailing year. The 30-day expected move averaged 10.2%. IV traded above realized volatility by 1.5% (HV 20d: 32.3%). Max pain ranged from $5.00 to $5.00. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 19 of 20 days. Put/call ratio averaged 0.17.

Notable Days

2013-06-03: Highest Volume — 1,466 contracts
2013-06-07: Largest IV drop — 36.7% change
2013-06-03: Highest IV Rank — 30.7%
2013-06-03: Largest Expected Move — 11.1%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$6.60	$5.99	$6.96	$5.99	$6.75
Max Pain	$5.00	$5.00	$5.00	$5.00	$5.00
ATM IV	33.8%	20.3%	38.8%	38.8%	33.9%
Expected Move	10.2%	9.2%	11.1%	11.1%	9.7%
HV 20d	32.3%	28.4%	33.7%	32.0%	28.4%
HV 60d	37.4%	36.4%	38.2%	37.2%	36.4%
IV Rank	22.9%	1.7%	30.7%	30.7%	23.0%
IV Percentile	36.9%	0.4%	55.2%	55.2%	34.9%
Term Structure	2.7%	-2.4%	6.6%	-2.4%	4.7%
VWIV	35.8%	24.4%	42.6%	37.5%	24.4%
Skew 25d	2.9%	-7.8%	12.2%	2.5%	-6.4%
Skew 10d	6.5%	-7.8%	19.9%	3.9%	-6.7%
Call IV 25d	31.4%	28.8%	36.2%	33.6%	32.0%
Put IV 25d	34.4%	24.8%	43.0%	36.1%	25.6%
Bid-Ask Spread %	13.09	9.03	19.83	16.74	9.69
Gamma HHI	0.60	0.45	0.78	0.69	0.45
Net GEX	50.5K	43.3K	63.4K	63.4K	51.1K
Net DEX	-2.9M	-3.3M	-2.2M	-2.4M	-3.0M
Net VEX	-5.3K	-6.4K	-4.7K	-6.4K	-5.3K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.17	0.00	1.18	0.07	0.00
Total Volume	296.75	31	1,466	1,466	78
Total OI	6,551.15	6,335	6,832	6,699	6,663

Daily Data (20 trading days)

Date	Price	Max Pain	ATM IV	Exp Move	HV 20d	IV Rank	VWIV	Skew 25d	Term Str	GEX	DEX	VEX	P/C	Spread %	Call Wall	Put Wall	Call Vol	Put Vol	Call OI	Put OI
2013-06-03	$5.99	$5.00	38.8%	11.1%	32.0%	30.7%	37.5%	2.5%	-2.4%	63.4K	-2.4M	-6.4K	0.07	16.74	N/A	N/A	1,373	93	6,199	500
2013-06-04	$6.03	$5.00	35.1%	10.1%	31.7%	24.9%	35.1%	3.7%	1.6%	59.2K	-2.2M	-6.0K	1.00	19.83	N/A	N/A	81	81	5,754	581
2013-06-05	$6.13	$5.00	34.8%	10.0%	31.7%	24.4%	34.0%	5.1%	0.9%	60.2K	-2.3M	-5.9K	0.79	14.71	N/A	N/A	38	30	5,754	636
2013-06-06	$6.15	$5.00	32.1%	9.2%	31.6%	20.2%	32.1%	5.2%	2.9%	58.8K	-2.4M	-5.8K	0.00	19.38	N/A	N/A	120	0	5,743	626
2013-06-07	$6.35	$5.00	20.3%	10.5%	31.4%	1.7%	36.4%	1.9%	2.0%	56.2K	-2.7M	-5.5K	0.00	10.65	N/A	N/A	376	0	5,726	626
2013-06-10	$6.60	$5.00	24.6%	10.7%	32.9%	8.4%	37.8%	7.9%	1.0%	47.7K	-3.0M	-5.1K	0.09	14.78	N/A	N/A	276	26	5,728	626
2013-06-11	$6.74	$5.00	30.7%	10.7%	33.0%	18.0%	38.0%	8.8%	2.0%	45.0K	-3.2M	-5.0K	0.00	10.89	N/A	N/A	473	0	5,869	652
2013-06-12	$6.78	$5.00	35.4%	10.5%	32.5%	25.3%	37.4%	7.6%	2.9%	46.7K	-3.3M	-5.4K	0.00	10.62	N/A	N/A	443	0	6,098	652
2013-06-13	$6.74	$5.00	35.4%	10.2%	33.2%	25.4%	42.6%	7.7%	2.9%	47.8K	-3.2M	-5.4K	0.00	11.60	N/A	N/A	125	0	6,047	652
2013-06-14	$6.64	$5.00	37.3%	10.7%	33.0%	28.4%	0.0%	7.4%	1.7%	48.8K	-3.0M	-5.4K	0.07	16.30	N/A	N/A	299	20	5,943	652
2013-06-17	$6.82	$5.00	34.8%	10.0%	33.0%	24.4%	42.1%	-1.4%	2.5%	49.0K	-3.3M	-5.1K	0.00	11.23	N/A	N/A	546	0	6,027	672
2013-06-18	$6.96	$5.00	36.3%	10.4%	33.2%	26.7%	36.1%	1.5%	3.8%	43.4K	-3.3M	-4.7K	0.09	11.85	N/A	N/A	336	30	5,841	672
2013-06-19	$6.79	$5.00	36.0%	10.3%	33.7%	26.2%	34.3%	-1.6%	4.3%	46.7K	-3.2M	-5.0K	0.01	12.31	N/A	N/A	170	1	6,000	688
2013-06-20	$6.75	$5.00	35.8%	10.3%	31.6%	26.0%	35.9%	10.2%	2.7%	48.8K	-3.2M	-5.1K	1.18	9.03	N/A	N/A	39	46	6,106	684
2013-06-21	$6.78	$5.00	35.2%	10.1%	31.5%	25.0%	0.0%	12.2%	3.3%	48.7K	-3.2M	-5.1K	0.00	12.20	N/A	N/A	31	0	6,104	728
2013-06-24	$6.69	$5.00	37.2%	10.7%	32.3%	28.2%	38.7%	6.8%	1.6%	46.8K	-2.8M	-5.3K	0.00	14.67	N/A	N/A	87	0	5,716	645
2013-06-25	$6.88	$5.00	32.0%	9.2%	32.7%	20.0%	31.8%	-4.6%	6.6%	43.3K	-3.1M	-4.7K	0.01	10.80	N/A	N/A	107	1	5,762	645
2013-06-26	$6.75	$5.00	36.2%	10.4%	33.3%	26.7%	35.0%	-7.5%	3.4%	48.4K	-3.0M	-5.1K	0.00	13.90	N/A	N/A	45	0	5,854	644
2013-06-27	$6.73	$5.00	34.4%	9.9%	33.6%	23.8%	24.4%	-7.8%	5.8%	49.3K	-2.9M	-5.2K	0.00	10.73	N/A	N/A	564	0	5,864	644
2013-06-28	$6.75	$5.00	33.9%	9.7%	28.4%	23.0%	0.0%	-6.4%	4.7%	51.1K	-3.0M	-5.3K	0.00	9.69	N/A	N/A	78	0	6,019	644