FORM Options History — April 2017

In April 2017, FORM traded between $10.65 and $11.88. ATM implied volatility averaged 48.1%, placing in the 19.0% IV rank vs the trailing year. The 30-day expected move averaged 14.4%. IV traded above realized volatility by 15.0% (HV 20d: 33.1%). Max pain ranged from $10.00 to $12.50. Net GEX was positive for 19 of 19 trading days. Term structure was in contango for 2 of 19 days. Put/call ratio averaged 0.76.

Notable Days

  • 2017-04-10: Highest Volume — 676 contracts
  • 2017-04-12: Largest IV spike — 35.7% change
  • 2017-04-13: Highest IV Rank — 28.7%
  • 2017-04-11: Largest Expected Move — 16.8%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$11.21$10.65$11.88$11.58$11.15
Max Pain$11.05$10.00$12.50$10.00$10.00
ATM IV48.1%36.3%58.6%39.9%41.8%
Expected Move14.4%10.4%16.8%11.4%12.0%
HV 20d33.1%28.1%40.4%30.9%40.4%
HV 60d30.3%27.7%33.2%32.0%33.2%
IV Rank19.0%8.1%28.7%11.5%13.2%
IV Percentile59.6%7.5%91.7%25.4%34.9%
Term Structure-7.6%-22.4%6.7%6.7%-16.2%
VWIV47.9%41.1%52.5%41.1%48.0%
Skew 25d1.9%-15.9%11.4%-5.6%-15.9%
Skew 10d8.3%-0.4%17.0%6.7%5.3%
Call IV 25d47.7%40.3%53.4%40.8%48.4%
Put IV 25d49.6%32.5%57.4%35.2%32.5%
Bid-Ask Spread %50.4121.8294.0127.2542.22
Gamma HHI0.480.360.690.370.51
Net GEX23.6K11.6K36.2K36.2K13.7K
Net DEX-598.9K-887.1K-79.7K-887.1K-79.7K
Net VEX-2.4K-3.8K-1.3K-3.8K-1.4K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.760.441.000.440.92
Total Volume482.632308676322396
Total OI2,996.0531,9473,5413,2402,215

Daily Data (19 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2017-04-03$11.58$10.0039.9%11.4%30.9%11.5%41.1%-5.6%6.7%36.2K-887.1K-3.8K0.4427.25N/AN/A223992,804436
2017-04-04$11.35$10.0036.3%10.4%31.9%8.1%42.3%-1.2%6.7%33.9K-836.5K-3.5K0.4548.62N/AN/A220992,804457
2017-04-05$11.23$10.0045.2%12.9%31.9%16.3%44.0%-10.7%-5.7%31.1K-685.8K-3.5K0.4739.05N/AN/A209992,804457
2017-04-06$11.28$12.5038.4%12.8%31.5%10.1%44.6%6.2%-3.6%25.7K-724.5K-2.5K0.4748.00N/AN/A209992,794457
2017-04-07$11.43$12.5036.4%13.0%31.6%8.3%44.2%6.2%-3.0%31.5K-771.5K-2.9K0.4768.31N/AN/A209992,794457
2017-04-10$11.23$12.5047.5%16.1%32.2%18.4%47.4%1.6%-14.7%23.8K-756.4K-2.6K0.6971.77N/AN/A3992772,794457
2017-04-11$11.25$12.5043.1%16.8%32.1%14.4%49.5%2.7%-22.4%24.9K-721.3K-2.6K0.6951.52N/AN/A3992772,994547
2017-04-12$10.88$12.5058.5%16.8%34.3%28.6%47.9%4.3%-6.4%26.4K-612.0K-2.3K0.9355.36N/AN/A2992772,994496
2017-04-13$10.78$12.5058.6%16.8%34.5%28.7%51.4%1.8%-15.7%23.6K-567.1K-1.7K0.9946.98N/AN/A2902872,894387
2017-04-17$10.85$12.5056.4%16.2%33.2%26.6%48.4%3.4%-11.2%13.6K-696.9K-1.6K1.0045.57N/AN/A2882872,895397
2017-04-18$10.65$12.5053.6%15.4%31.4%24.0%52.5%1.6%-8.2%21.4K-600.6K-1.4K0.8242.75N/AN/A3562922,878393
2017-04-19$10.73$10.0052.6%15.1%28.1%23.1%49.9%2.8%-9.3%16.6K-648.9K-1.3K0.8494.01N/AN/A3462922,893397
2017-04-20$11.30$10.0050.1%14.4%33.9%20.9%50.1%5.6%-8.6%14.4K-823.0K-2.0K0.8491.96N/AN/A3462922,893397
2017-04-21$11.00$10.0055.2%15.8%33.8%25.5%48.5%4.6%-10.9%11.6K-758.1K-1.7K0.8392.96N/AN/A3502922,893397
2017-04-24$11.28$10.0049.1%14.1%34.6%19.9%47.6%5.8%-2.4%17.1K-162.9K-2.4K0.8523.23N/AN/A2181861,756191
2017-04-25$11.55$10.0049.5%14.2%35.0%20.3%49.6%6.4%-5.6%24.0K-294.5K-2.7K0.9323.10N/AN/A2001861,899192
2017-04-26$11.65$10.0050.5%14.5%33.2%21.2%50.8%6.1%-6.5%28.0K-358.6K-3.0K0.9323.24N/AN/A2001862,014192
2017-04-27$11.88$10.0051.2%14.7%33.7%21.8%51.1%11.4%-7.6%30.5K-393.0K-3.0K0.9321.82N/AN/A2011862,014192
2017-04-28$11.15$10.0041.8%12.0%40.4%13.2%48.0%-15.9%-16.2%13.7K-79.7K-1.4K0.9242.22N/AN/A2061902,019196