FORM Options History — August 2017

In August 2017, FORM traded between $12.95 and $15.23. ATM implied volatility averaged 40.1%, placing in the 11.8% IV rank vs the trailing year. The 30-day expected move averaged 11.9%. IV traded below realized volatility by 8.0% (HV 20d: 48.0%). Max pain ranged from $10.00 to $15.00. Net GEX was positive for 23 of 23 trading days. Term structure was in contango for 18 of 23 days. Put/call ratio averaged 0.24.

Notable Days

  • 2017-08-11: Highest Volume — 1,638 contracts
  • 2017-08-03: Largest IV drop — 38.7% change
  • 2017-08-02: Highest IV Rank — 41.2%
  • 2017-08-02: Largest Expected Move — 20.7%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$14.07$12.95$15.23$13.25$15.08
Max Pain$10.98$10.00$15.00$12.50$12.50
ATM IV40.1%27.2%72.3%70.0%37.9%
Expected Move11.9%9.0%20.7%20.1%10.9%
HV 20d48.0%27.0%52.2%27.0%38.8%
HV 60d41.9%35.4%43.1%36.3%42.5%
IV Rank11.8%0.0%41.2%39.1%9.8%
IV Percentile29.1%0.0%98.8%98.4%23.8%
Term Structure-0.1%-17.3%16.9%-15.9%0.8%
VWIV41.1%27.7%69.7%62.5%38.1%
Skew 25d0.0%-12.4%11.0%-3.8%3.5%
Skew 10d2.9%-20.9%15.8%-14.2%4.6%
Call IV 25d38.7%30.9%71.0%69.7%30.9%
Put IV 25d38.7%25.0%65.9%65.9%34.4%
Bid-Ask Spread %21.5712.7034.1012.7032.10
Gamma HHI0.520.350.750.360.75
Net GEX49.8K27.8K95.5K45.8K95.5K
Net DEX-1.2M-2.0M-778.2K-1.2M-2.0M
Net VEX-5.2K-8.5K-3.8K-8.1K-5.2K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.240.060.580.300.19
Total Volume629.2611751,638180343
Total OI3,072.4782,2444,0424,0142,960

Daily Data (23 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2017-08-01$13.25$12.5070.0%20.1%27.0%39.1%62.5%-3.8%-15.9%45.8K-1.2M-8.1K0.3012.70N/AN/A138423,315699
2017-08-02$12.95$12.5072.3%20.7%28.7%41.2%69.7%-8.9%-17.3%40.9K-1.1M-7.9K0.2131.57N/AN/A281583,343699
2017-08-03$14.28$15.0044.3%11.8%43.1%15.5%41.5%10.4%0.6%61.4K-1.8M-8.5K0.1219.77N/AN/A8261033,254684
2017-08-04$13.53$12.5027.2%12.7%48.0%0.0%41.1%-0.9%-7.1%54.3K-1.2M-7.7K0.1519.10N/AN/A634943,319705
2017-08-07$14.03$12.5034.0%11.4%49.2%6.2%40.5%5.3%0.2%64.8K-1.5M-7.8K0.3614.93N/AN/A262943,253705
2017-08-08$13.73$12.5033.2%12.5%50.2%5.5%40.4%4.5%0.6%47.6K-1.3M-7.2K0.0622.99N/AN/A1,452943,259705
2017-08-09$13.80$12.5038.4%11.0%48.9%10.2%40.6%2.1%0.4%33.6K-905.8K-4.1K0.0618.64N/AN/A1,487942,216705
2017-08-10$13.35$10.0042.3%12.1%50.4%13.8%43.0%1.8%0.0%27.8K-778.2K-3.8K0.0623.61N/AN/A1,524942,270705
2017-08-11$13.68$10.0033.0%9.5%51.0%5.3%31.3%2.3%16.9%30.4K-907.6K-4.1K0.0624.98N/AN/A1,544942,281705
2017-08-14$14.03$10.0035.9%10.3%51.6%7.9%38.1%11.0%1.2%41.7K-1.1M-4.2K0.0616.49N/AN/A1,468942,283705
2017-08-15$14.18$10.0039.7%11.4%51.6%11.4%45.5%4.8%1.2%52.6K-1.2M-4.3K0.3222.44N/AN/A221712,279707
2017-08-16$14.13$10.0039.7%11.4%50.5%11.5%39.0%-9.4%0.2%51.2K-1.2M-4.3K0.5827.48N/AN/A2071202,304707
2017-08-17$13.73$10.0031.3%9.0%51.7%3.7%31.5%-12.4%2.4%32.3K-915.4K-4.0K0.4834.10N/AN/A163782,326732
2017-08-18$14.15$10.0033.5%9.6%52.1%5.7%37.7%4.9%7.0%37.5K-1.1M-4.1K0.4929.90N/AN/A159782,334732
2017-08-21$13.98$10.0038.4%11.0%52.1%10.2%41.8%0.4%1.4%35.3K-959.3K-4.0K0.5124.40N/AN/A130661,833411
2017-08-22$14.28$10.0039.3%11.3%52.2%11.0%39.6%10.7%1.0%39.6K-1.1M-4.1K0.2521.22N/AN/A269661,850411
2017-08-23$14.18$10.0040.1%11.5%51.8%11.8%38.5%-9.4%-0.6%45.8K-1.1M-4.2K0.2116.00N/AN/A308642,005411
2017-08-24$14.20$10.0037.3%10.7%50.9%9.2%27.7%-9.7%2.1%47.1K-1.1M-4.2K0.3317.85N/AN/A132431,982424
2017-08-25$14.30$10.0035.6%10.2%50.7%7.7%37.4%-8.0%1.4%49.9K-1.2M-4.1K0.2717.13N/AN/A193532,003425
2017-08-28$14.78$10.0037.8%10.8%51.7%9.7%40.4%-3.1%1.2%60.3K-1.4M-4.3K0.1115.68N/AN/A500552,048425
2017-08-29$14.83$10.0038.6%11.1%51.7%10.4%36.8%-0.8%2.0%73.6K-1.6M-5.1K0.2216.19N/AN/A202452,351427
2017-08-30$15.23$10.0042.4%12.2%51.1%13.9%42.5%4.8%-1.6%77.1K-2.0M-5.0K0.1416.91N/AN/A376542,352418
2017-08-31$15.08$12.5037.9%10.9%38.8%9.8%38.1%3.5%0.8%95.5K-2.0M-5.2K0.1932.10N/AN/A289542,543417