FORM Options History — April 2016

In April 2016, FORM traded between $7.11 and $8.12. ATM implied volatility averaged 56.6%, placing in the 37.6% IV rank vs the trailing year. The 30-day expected move averaged 15.9%. IV traded above realized volatility by 12.6% (HV 20d: 44.1%). Max pain ranged from $7.00 to $7.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 2 of 21 days. Put/call ratio averaged 1.56.

Notable Days

  • 2016-04-29: Highest Volume — 400 contracts
  • 2016-04-12: Largest IV spike — 42.4% change
  • 2016-04-12: Highest IV Rank — 55.3%
  • 2016-04-27: Largest Expected Move — 18.7%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$7.35$7.11$8.12$7.27$7.66
Max Pain$7.00$7.00$7.00$7.00$7.00
ATM IV56.6%47.2%73.7%58.3%51.8%
Expected Move15.9%14.5%18.7%16.7%14.9%
HV 20d44.1%22.1%52.2%52.2%43.0%
HV 60d50.8%48.5%53.2%53.2%51.9%
IV Rank37.6%27.7%55.3%39.2%32.6%
IV Percentile77.9%54.4%96.8%85.7%63.1%
Term Structure-8.1%-22.5%2.4%2.4%-10.8%
VWIV53.4%47.5%62.3%62.3%47.5%
Skew 25d7.8%-9.1%30.1%30.1%1.6%
Skew 10d15.4%-2.5%45.6%36.0%3.4%
Call IV 25d49.1%35.2%59.3%35.2%45.7%
Put IV 25d56.9%46.0%70.3%65.3%47.3%
Bid-Ask Spread %55.8625.47108.94108.9470.52
Gamma HHI0.460.430.490.490.43
Net GEX12.1K10.8K15.2K11.6K15.0K
Net DEX-453.6K-767.7K-364.1K-415.1K-555.5K
Net VEX-3.5K-3.6K-3.4K-3.5K-3.6K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.560.852.241.680.85
Total Volume298.048224400298400
Total OI2,380.7622,2202,5142,4062,411

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2016-04-01$7.27$7.0058.3%16.7%52.2%39.2%62.3%30.1%2.4%11.6K-415.1K-3.5K1.68108.94N/AN/A1111871,924482
2016-04-04$7.21$7.0062.0%15.8%52.1%43.1%55.0%11.6%-8.7%11.9K-416.3K-3.5K1.6860.84N/AN/A1111871,929481
2016-04-05$7.11$7.0055.2%15.5%51.5%36.0%52.5%9.9%-5.6%10.9K-394.2K-3.5K2.2440.47N/AN/A1122511,929481
2016-04-06$7.16$7.0054.5%15.7%51.6%35.4%52.7%9.2%-10.9%10.8K-369.7K-3.5K2.24106.21N/AN/A1122511,932545
2016-04-07$7.18$7.0053.9%14.7%51.4%34.7%51.5%5.1%-6.3%10.9K-384.0K-3.5K2.2431.52N/AN/A1122511,932545
2016-04-08$7.17$7.0047.2%15.5%50.5%27.7%54.0%7.5%-6.8%10.9K-396.2K-3.5K1.9540.28N/AN/A1272481,932545
2016-04-11$7.15$7.0051.7%15.0%48.5%32.5%50.6%8.6%-9.7%10.9K-385.9K-3.5K1.9525.47N/AN/A1272481,951545
2016-04-12$7.15$7.0073.7%15.3%48.5%55.3%52.0%16.6%-7.4%10.9K-364.1K-3.4K1.9562.29N/AN/A1272481,951545
2016-04-13$7.39$7.0055.5%15.9%49.6%36.4%57.1%12.4%-10.8%12.1K-439.8K-3.5K1.1092.15N/AN/A1271401,951545
2016-04-14$7.50$7.0055.1%15.8%47.1%36.0%49.2%16.3%-9.9%12.0K-492.6K-3.6K1.0844.44N/AN/A1301401,951547
2016-04-15$7.43$7.0055.2%15.8%45.7%36.0%50.2%3.6%-8.4%12.1K-493.4K-3.6K1.1167.53N/AN/A1301441,967547
2016-04-18$7.44$7.0057.0%16.3%45.6%37.9%50.7%1.9%0.4%12.1K-470.6K-3.5K1.4762.79N/AN/A921351,716504
2016-04-19$7.31$7.0054.3%15.6%40.8%35.1%53.0%-5.4%-5.0%12.2K-465.6K-3.5K1.3140.68N/AN/A1031351,734504
2016-04-20$7.25$7.0057.0%16.3%39.0%37.9%53.9%-9.1%-5.3%11.9K-423.0K-3.4K1.3133.57N/AN/A1031351,749504
2016-04-21$7.34$7.0056.6%16.2%38.0%37.5%50.3%-2.1%-9.1%12.1K-455.8K-3.5K1.2239.83N/AN/A1111351,749504
2016-04-22$7.36$7.0058.7%16.8%38.0%39.7%50.1%1.5%-8.3%12.7K-466.3K-3.5K1.2226.32N/AN/A1111351,774504
2016-04-25$7.20$7.0059.8%17.1%38.6%40.9%58.6%5.3%-10.9%12.1K-419.0K-3.4K1.5235.91N/AN/A891351,774504
2016-04-26$7.42$7.0056.5%16.2%35.6%37.4%53.4%11.6%-9.7%13.1K-463.2K-3.4K1.8328.64N/AN/A841541,777504
2016-04-27$7.47$7.0065.3%18.7%22.1%46.6%58.2%5.3%-22.5%12.9K-488.3K-3.5K1.5996.16N/AN/A971541,781525
2016-04-28$8.12$7.0050.6%14.5%36.5%31.2%58.1%21.4%-8.0%15.2K-767.7K-3.6K1.2658.58N/AN/A1461841,796525
2016-04-29$7.66$7.0051.8%14.9%43.0%32.6%47.5%1.6%-10.8%15.0K-555.5K-3.6K0.8570.52N/AN/A2161841,859552