FORM Options History — April 2014

In April 2014, FORM traded between $5.70 and $6.67. ATM implied volatility averaged 42.5%, placing in the 25.1% IV rank vs the trailing year. The 30-day expected move averaged 12.0%. IV traded below realized volatility by 0.2% (HV 20d: 42.7%). Max pain ranged from $5.00 to $7.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 4 of 21 days. Put/call ratio averaged 4.77.

Notable Days

  • 2014-04-25: Highest Volume — 1,063 contracts
  • 2014-04-03: Largest IV spike — 73.2% change
  • 2014-04-03: Highest IV Rank — 34.9%
  • 2014-04-03: Largest Expected Move — 14.8%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$6.13$5.70$6.67$6.57$5.75
Max Pain$6.57$5.00$7.00$5.00$6.00
ATM IV42.5%29.8%51.6%41.1%33.1%
Expected Move12.0%8.5%14.8%11.8%9.5%
HV 20d42.7%35.9%49.4%35.9%42.8%
HV 60d36.4%33.8%38.9%33.8%37.9%
IV Rank25.1%11.4%34.9%23.6%15.0%
IV Percentile78.4%15.1%97.2%81.7%30.6%
Term Structure-6.2%-22.3%9.4%4.9%5.9%
VWIV33.5%31.8%36.7%32.0%31.8%
Skew 25d5.3%-5.8%18.0%5.0%16.5%
Skew 10d0.0%-12.6%10.8%-12.6%7.2%
Call IV 25d40.2%28.9%53.1%31.4%34.9%
Put IV 25d45.5%34.9%64.3%36.4%51.4%
Bid-Ask Spread %128.5998.91151.18139.07140.74
Gamma HHI0.410.300.600.380.32
Net GEX32.3K16.8K51.1K47.4K16.8K
Net DEX-614.8K-1.2M-207.4K-1.1M-207.4K
Net VEX-2.7K-3.7K-1.8K-3.6K-2.4K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio4.770.0040.0040.000.19
Total Volume97.66701,063032
Total OI4,044.192,8204,5624,5243,998

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2014-04-01$6.57$5.0041.1%11.8%35.9%23.6%0.0%5.0%4.9%47.4K-1.1M-3.6K0.00139.07N/AN/A004,078446
2014-04-02$6.67$5.0029.8%8.5%36.5%11.4%0.0%6.0%9.4%51.1K-1.2M-3.7K0.00136.58N/AN/A004,078446
2014-04-03$6.50$5.0051.6%14.8%36.7%34.9%0.0%9.3%-22.3%45.7K-1.1M-3.7K0.00151.18N/AN/A004,078446
2014-04-04$6.22$7.0044.6%11.2%39.2%27.3%32.0%4.0%-13.6%39.3K-807.9K-3.2K40.00132.69N/AN/A1404,078446
2014-04-07$6.14$7.0042.3%12.7%39.1%24.9%0.0%14.6%-6.7%36.3K-706.1K-3.1K0.00109.94N/AN/A204,079473
2014-04-08$6.33$7.0041.0%12.1%41.2%23.5%0.0%0.1%-4.7%40.3K-872.1K-3.1K0.00136.14N/AN/A004,079473
2014-04-09$6.42$7.0047.3%10.6%41.1%30.3%0.0%-3.1%2.2%43.2K-935.6K-3.2K0.00119.33N/AN/A004,079473
2014-04-10$6.08$7.0044.1%12.7%43.7%26.8%0.0%13.7%-7.3%35.1K-712.7K-3.1K0.00109.35N/AN/A004,079473
2014-04-11$6.08$7.0044.4%12.7%43.7%27.1%0.0%12.7%-11.2%34.9K-603.3K-2.6K0.21144.13N/AN/A2964,079473
2014-04-14$5.91$7.0043.5%12.5%44.2%26.1%0.0%-0.5%-14.6%32.1K-467.1K-2.3K0.00107.99N/AN/A704,095467
2014-04-15$5.92$7.0045.7%13.1%42.5%28.6%0.0%-4.4%-8.4%33.9K-465.1K-2.4K0.00107.89N/AN/A004,095467
2014-04-16$5.85$7.0038.1%10.9%42.5%20.3%0.0%1.2%-5.5%32.1K-396.2K-2.2K0.68140.51N/AN/A37254,095467
2014-04-17$5.98$7.0036.2%10.4%43.4%18.3%0.0%-5.8%-0.0%33.7K-542.4K-2.4K0.00130.42N/AN/A5504,095437
2014-04-21$6.23$7.0049.1%14.1%46.0%32.2%36.7%18.0%-12.6%23.3K-409.8K-2.3K0.1498.91N/AN/A86122,607213
2014-04-22$6.44$7.0045.2%13.0%47.9%28.0%0.0%13.0%-7.8%26.0K-571.6K-2.6K0.00146.96N/AN/A2002,681225
2014-04-23$6.21$7.0046.6%13.4%49.4%29.5%0.0%17.4%-8.6%24.1K-510.0K-2.6K0.00132.28N/AN/A002,691225
2014-04-24$6.03$7.0036.4%10.4%45.0%18.5%0.0%-0.7%-3.4%23.4K-421.7K-2.2K0.00144.97N/AN/A002,691225
2014-04-25$5.87$7.0034.9%10.0%45.7%16.9%0.0%-5.5%-1.9%19.9K-269.0K-1.8K0.08128.48N/AN/A986772,691225
2014-04-28$5.79$6.0048.1%13.8%45.3%31.2%0.0%-2.9%-12.5%21.6K-318.4K-2.3K15.92114.93N/AN/A375893,148246
2014-04-29$5.70$6.0048.7%14.0%44.2%31.8%0.0%1.8%-11.8%17.5K-264.9K-2.7K0.00127.90N/AN/A1003,175813
2014-04-30$5.75$6.0033.1%9.5%42.8%15.0%31.8%16.5%5.9%16.8K-207.4K-2.4K0.19140.74N/AN/A2753,185813