FORM Options History — January 2018

In January 2018, FORM traded between $14.38 and $16.80. ATM implied volatility averaged 49.8%, placing in the 50.0% IV rank vs the trailing year. The 30-day expected move averaged 14.9%. IV traded below realized volatility by 0.4% (HV 20d: 50.1%). Max pain ranged from $12.50 to $15.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 4 of 21 days. Put/call ratio averaged 0.32.

Notable Days

  • 2018-01-17: Highest Volume — 974 contracts
  • 2018-01-10: Largest IV spike — 47.9% change
  • 2018-01-31: Highest IV Rank — 82.2%
  • 2018-01-31: Largest Expected Move — 18.4%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$15.74$14.38$16.80$16.43$14.38
Max Pain$14.88$12.50$15.00$15.00$15.00
ATM IV49.8%27.7%64.3%27.7%64.3%
Expected Move14.9%7.9%18.4%7.9%18.4%
HV 20d50.1%46.0%52.6%52.6%46.0%
HV 60d53.9%46.8%56.8%52.3%46.8%
IV Rank50.0%0.9%82.2%0.9%82.2%
IV Percentile65.4%0.4%96.8%0.4%96.8%
Term Structure-3.2%-12.7%28.4%28.4%-11.1%
VWIV50.7%32.8%63.4%35.1%63.3%
Skew 25d7.0%-12.5%24.9%23.7%13.5%
Skew 10d10.2%-15.7%22.7%17.4%22.7%
Call IV 25d48.4%20.2%62.0%20.2%50.8%
Put IV 25d55.4%43.9%71.5%43.9%64.3%
Bid-Ask Spread %68.0912.8795.6528.7177.53
Gamma HHI0.590.410.760.520.65
Net GEX93.6K46.8K134.0K119.4K46.8K
Net DEX-2.3M-3.5M-992.8K-3.0M-992.8K
Net VEX-10.6K-12.4K-8.1K-12.4K-8.1K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.320.220.450.310.32
Total Volume517.762337974337427
Total OI4,978.6674,0695,9455,3434,170

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2018-01-02$16.43$15.0027.7%7.9%52.6%0.9%35.1%23.7%28.4%119.4K-3.0M-12.4K0.3128.71N/AN/A257804,590753
2018-01-03$16.05$15.0040.2%11.5%51.4%28.8%32.8%24.9%14.4%115.0K-2.8M-12.0K0.3080.22N/AN/A305934,599754
2018-01-04$16.27$15.0037.5%13.8%51.6%22.7%48.0%2.0%-2.4%115.3K-2.8M-11.9K0.3772.39N/AN/A252944,557770
2018-01-05$16.30$15.0031.4%13.5%51.3%9.3%49.9%4.4%-1.5%115.7K-2.8M-11.6K0.3212.87N/AN/A297944,576772
2018-01-08$16.80$15.0039.6%12.8%51.9%27.4%43.1%4.2%2.7%128.6K-3.5M-12.2K0.2274.14N/AN/A4681014,631772
2018-01-09$16.50$15.0032.8%13.4%51.8%12.4%45.6%8.3%0.7%118.0K-3.2M-11.7K0.3174.96N/AN/A308964,675765
2018-01-10$16.38$15.0048.5%13.9%51.8%47.3%47.7%5.7%-4.4%120.0K-2.9M-11.6K0.3070.13N/AN/A317954,656771
2018-01-11$16.80$15.0048.3%13.8%51.2%46.7%44.4%5.8%-3.5%129.3K-3.4M-11.8K0.2554.67N/AN/A369934,649773
2018-01-12$16.60$15.0049.6%14.2%51.6%49.7%48.8%1.8%-3.7%124.8K-3.2M-11.3K0.2972.90N/AN/A328944,727772
2018-01-16$16.73$15.0052.5%15.1%51.5%56.1%45.6%6.0%-5.4%120.0K-3.4M-11.2K0.2274.52N/AN/A406884,767773
2018-01-17$15.15$15.0053.4%15.3%48.5%58.1%50.5%4.2%-5.0%134.0K-1.7M-9.4K0.4274.41N/AN/A6862884,846773
2018-01-18$15.45$12.5052.8%15.1%49.1%56.6%52.4%3.0%-7.3%122.6K-2.3M-10.2K0.2972.32N/AN/A6651915,041767
2018-01-19$15.48$15.0049.5%14.2%49.1%49.4%58.0%2.9%-6.8%63.5K-2.6M-10.2K0.3669.29N/AN/A5351915,178767
2018-01-22$15.00$15.0057.5%16.5%49.8%67.2%54.9%2.7%-7.4%53.8K-1.3M-9.6K0.3122.51N/AN/A4931523,512557
2018-01-23$15.08$15.0061.0%17.5%49.9%74.8%54.4%11.7%-10.3%56.9K-1.3M-9.8K0.2986.43N/AN/A4921443,556560
2018-01-24$15.08$15.0056.4%16.2%49.7%64.6%52.6%9.1%-6.5%57.6K-1.4M-9.7K0.4283.81N/AN/A3441443,556564
2018-01-25$14.85$15.0055.5%15.9%48.6%62.6%52.5%12.2%-6.5%53.6K-1.2M-9.1K0.4478.53N/AN/A3301443,576566
2018-01-26$15.20$15.0060.2%17.3%48.5%73.2%62.1%9.6%-9.0%60.1K-1.3M-9.5K0.3795.65N/AN/A3941443,590566
2018-01-29$14.95$15.0062.2%17.8%48.4%77.6%63.4%3.4%-10.0%55.2K-1.3M-9.4K0.4577.72N/AN/A3431563,570566
2018-01-30$14.98$15.0063.9%18.3%48.1%81.5%59.6%-12.5%-12.7%55.0K-1.4M-9.4K0.2376.28N/AN/A304713,585584
2018-01-31$14.38$15.0064.3%18.4%46.0%82.2%63.3%13.5%-11.1%46.8K-992.8K-8.1K0.3277.53N/AN/A3241033,586584