FORM Options History — April 2015

In April 2015, FORM traded between $7.97 and $9.51. ATM implied volatility averaged 42.8%, placing in the 19.2% IV rank vs the trailing year. The 30-day expected move averaged 12.7%. IV traded above realized volatility by 18.1% (HV 20d: 24.7%). Max pain ranged from $8.00 to $9.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 9 of 21 days. Put/call ratio averaged 0.25.

Notable Days

  • 2015-04-30: Highest Volume — 917 contracts
  • 2015-04-30: Largest IV drop — 39.1% change
  • 2015-04-29: Highest IV Rank — 33.5%
  • 2015-04-29: Largest Expected Move — 15.7%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$9.21$7.97$9.51$8.98$7.97
Max Pain$8.24$8.00$9.00$8.00$9.00
ATM IV42.8%33.4%54.9%39.7%33.4%
Expected Move12.7%9.6%15.7%11.4%9.6%
HV 20d24.7%18.9%55.4%26.4%55.4%
HV 60d38.0%35.9%46.0%40.5%46.0%
IV Rank19.2%8.2%33.5%15.6%8.2%
IV Percentile42.1%4.0%81.3%28.2%4.0%
Term Structure-1.5%-11.4%11.8%3.7%5.4%
VWIV43.7%34.8%52.0%34.8%35.4%
Skew 25d5.2%-8.2%26.2%2.9%-4.2%
Skew 10d9.1%-7.5%18.8%5.4%-7.5%
Call IV 25d40.7%31.7%48.1%33.0%48.0%
Put IV 25d45.9%35.9%61.7%35.9%43.7%
Bid-Ask Spread %88.1940.63141.96141.9696.86
Gamma HHI0.350.230.450.300.23
Net GEX22.7K12.8K31.6K28.9K12.8K
Net DEX-951.2K-1.4M-168.7K-917.6K-168.7K
Net VEX-2.4K-2.6K-1.8K-2.6K-1.8K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.250.040.420.390.11
Total Volume560.81258917516917
Total OI2,565.9521,5843,2152,9372,074

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2015-04-01$8.98$8.0039.7%11.4%26.4%15.6%34.8%2.9%3.7%28.9K-917.6K-2.6K0.39141.96N/AN/A3721442,200737
2015-04-02$9.19$8.0035.6%12.3%26.4%10.8%41.5%9.3%2.3%28.6K-1.1M-2.5K0.3145.47N/AN/A4651442,209767
2015-04-06$9.12$8.0039.1%13.6%25.6%14.8%44.1%10.2%-4.2%26.2K-1.0M-2.4K0.2977.23N/AN/A4641362,200767
2015-04-07$9.16$8.0033.8%13.4%23.9%8.6%46.2%8.9%-4.0%24.7K-1.1M-2.4K0.2542.09N/AN/A5251302,212772
2015-04-08$9.30$8.0042.9%12.3%24.0%19.3%42.8%8.1%-0.6%26.4K-1.2M-2.5K0.0448.46N/AN/A248102,237779
2015-04-09$9.35$8.0045.5%13.0%24.1%22.3%43.7%9.4%2.1%31.4K-1.3M-2.6K0.1883.14N/AN/A6081102,417789
2015-04-10$9.41$8.0045.1%12.9%24.1%21.9%43.6%-1.4%0.3%31.6K-1.4M-2.5K0.2640.63N/AN/A4241102,420789
2015-04-13$9.45$8.0045.7%13.1%24.1%22.6%43.2%-0.7%-4.3%29.8K-1.3M-2.5K0.2666.31N/AN/A4261102,393789
2015-04-14$9.51$8.0042.7%12.2%23.6%19.1%43.3%-0.9%-1.3%28.1K-1.4M-2.4K0.2476.47N/AN/A4631102,396789
2015-04-15$9.46$8.0045.3%13.0%23.2%22.1%47.2%2.0%-3.1%21.2K-1.4M-2.4K0.2679.26N/AN/A4191102,407789
2015-04-16$9.23$8.0044.8%12.9%24.2%21.6%46.2%6.3%-3.2%28.3K-1.3M-2.4K0.42117.49N/AN/A3301382,391789
2015-04-17$9.14$8.0042.6%12.2%24.3%18.9%42.2%-8.2%-3.3%14.0K-1.3M-2.3K0.3761.66N/AN/A3861422,388827
2015-04-20$9.29$8.0042.9%12.3%24.4%19.3%42.4%-0.9%-9.2%15.0K-556.0K-2.2K0.2787.97N/AN/A3711021,299285
2015-04-21$9.39$8.0041.1%11.8%24.0%17.2%41.4%4.7%0.7%17.9K-669.8K-2.4K0.26134.50N/AN/A3891021,445290
2015-04-22$9.43$8.0035.2%10.1%24.0%10.2%38.8%5.0%11.8%19.4K-701.6K-2.4K0.2161.55N/AN/A382791,489290
2015-04-23$9.30$8.0044.4%12.7%19.3%21.1%45.3%3.5%0.8%18.1K-677.8K-2.5K0.2873.71N/AN/A4111141,497305
2015-04-24$9.16$9.0040.4%11.6%20.2%16.4%45.1%-1.3%2.8%16.6K-630.9K-2.5K0.27112.94N/AN/A4161141,529350
2015-04-27$9.15$9.0051.1%14.7%19.0%29.0%47.2%26.2%-9.3%17.1K-625.7K-2.5K0.28122.51N/AN/A4051141,534355
2015-04-28$9.24$9.0052.6%15.1%18.9%30.8%52.0%8.0%-8.7%18.2K-609.8K-2.5K0.24140.72N/AN/A5081241,538355
2015-04-29$9.22$9.0054.9%15.7%18.9%33.5%51.8%22.7%-11.4%21.5K-708.5K-2.5K0.15141.02N/AN/A612931,632365
2015-04-30$7.97$9.0033.4%9.6%55.4%8.2%35.4%-4.2%5.4%12.8K-168.7K-1.8K0.1196.86N/AN/A827901,695379