FORM Options History — May 2014

In May 2014, FORM traded between $5.41 and $7.26. ATM implied volatility averaged 41.5%, placing in the 23.9% IV rank vs the trailing year. The 30-day expected move averaged 10.2%. IV traded below realized volatility by 3.4% (HV 20d: 44.9%). Max pain ranged from $6.00 to $6.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 10 of 21 days. Put/call ratio averaged 0.45.

Notable Days

  • 2014-05-28: Highest Volume — 782 contracts
  • 2014-05-14: Largest IV spike — 94.0% change
  • 2014-05-14: Highest IV Rank — 71.0%
  • 2014-05-29: Largest Expected Move — 12.2%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$5.97$5.41$7.26$5.91$7.26
Max Pain$6.00$6.00$6.00$6.00$6.00
ATM IV41.5%26.5%85.2%42.0%32.5%
Expected Move10.2%7.6%12.2%12.1%9.3%
HV 20d44.9%36.9%66.5%43.9%66.3%
HV 60d39.5%35.2%50.9%38.1%50.9%
IV Rank23.9%7.6%71.0%24.6%14.1%
IV Percentile60.1%5.2%99.6%82.1%23.4%
Term Structure1.3%-5.9%10.6%10.1%10.6%
VWIV35.1%29.2%38.5%37.4%29.2%
Skew 25d1.6%-11.0%12.1%8.6%4.5%
Skew 10d-1.3%-19.6%29.2%-8.6%-2.1%
Call IV 25d35.1%25.3%49.7%46.3%32.5%
Put IV 25d36.8%27.3%54.9%54.9%37.0%
Bid-Ask Spread %120.7266.77150.13133.78109.15
Gamma HHI0.350.310.470.330.39
Net GEX24.9K11.7K57.2K17.4K57.2K
Net DEX-486.9K-1.9M-103.1K-262.9K-1.9M
Net VEX-2.9K-5.2K-1.9K-2.2K-5.2K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.450.001.620.000.15
Total Volume103.95207821023
Total OI4,551.3814,0305,5784,0305,578

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2014-05-01$5.91$6.0042.0%12.1%43.9%24.6%0.0%8.6%10.1%17.4K-262.9K-2.2K0.00133.78N/AN/A0103,212818
2014-05-02$5.99$6.0041.2%11.8%43.7%23.7%0.0%4.2%-3.1%23.1K-362.7K-2.7K0.00125.29N/AN/A003,212828
2014-05-05$6.05$6.0038.9%10.8%41.3%21.2%0.0%4.6%-1.1%23.1K-380.3K-2.7K0.00115.22N/AN/A003,212828
2014-05-06$6.00$6.0036.1%10.1%41.2%18.2%0.0%5.4%3.7%24.0K-420.1K-2.8K0.00150.13N/AN/A1003,212828
2014-05-07$5.86$6.0047.5%10.7%40.1%30.4%0.0%-8.2%-0.5%20.4K-315.6K-2.6K0.00135.03N/AN/A003,212828
2014-05-08$5.66$6.0036.4%10.6%41.0%18.5%37.4%-4.2%-4.7%16.7K-179.1K-2.2K0.0098.21N/AN/A12003,212828
2014-05-09$5.67$6.0050.4%9.2%36.9%33.6%0.0%-10.6%-2.1%15.3K-150.2K-2.2K0.0078.88N/AN/A50703,322828
2014-05-12$5.94$6.0073.0%10.5%40.9%57.9%0.0%-11.0%0.8%24.0K-410.5K-3.2K1.00134.21N/AN/A333,824825
2014-05-13$5.86$6.0043.9%11.4%40.0%26.4%0.0%7.4%-3.0%26.1K-393.7K-3.1K0.00118.94N/AN/A203,824828
2014-05-14$5.57$6.0085.2%9.1%43.7%71.0%0.0%-3.7%6.5%19.5K-259.6K-2.8K0.79111.93N/AN/A53423,824828
2014-05-15$5.41$6.0036.8%10.5%44.6%18.7%0.0%12.1%-4.8%14.1K-141.8K-2.4K0.0066.77N/AN/A003,813785
2014-05-16$5.48$6.0038.3%11.0%44.0%20.3%0.0%10.1%-5.9%11.7K-103.7K-2.2K0.65128.58N/AN/A71463,813785
2014-05-19$5.59$6.0032.0%9.2%41.7%13.6%32.0%8.2%6.9%15.5K-179.2K-2.5K1.00139.94N/AN/A40403,800799
2014-05-20$5.51$6.0027.6%7.9%39.2%8.8%38.4%1.5%8.0%12.8K-103.1K-2.2K1.00129.03N/AN/A34343,824823
2014-05-21$5.55$6.0026.5%7.6%38.1%7.6%0.0%4.0%10.5%16.9K-181.5K-2.3K0.49128.87N/AN/A100493,830813
2014-05-22$5.80$6.0033.9%9.7%40.8%15.6%0.0%-6.6%-4.2%22.9K-230.3K-1.9K0.00126.19N/AN/A4003,871862
2014-05-23$5.94$6.0031.4%9.0%40.7%12.9%0.0%-6.7%3.9%24.4K-375.1K-2.8K0.00139.83N/AN/A6403,891862
2014-05-27$6.12$6.0036.7%10.5%41.6%18.7%0.0%1.4%-1.2%31.8K-551.6K-2.9K0.00120.82N/AN/A003,953862
2014-05-28$7.12$6.0038.4%11.0%66.5%20.4%38.5%2.3%0.4%49.6K-1.6M-4.0K0.05131.59N/AN/A744383,952862
2014-05-29$7.18$6.0042.5%12.2%66.5%24.9%0.0%11.1%-3.2%56.5K-1.8M-5.2K1.62112.77N/AN/A42684,568900
2014-05-30$7.26$6.0032.5%9.3%66.3%14.1%29.2%4.5%10.6%57.2K-1.9M-5.2K0.15109.15N/AN/A2034,610968