FORM Options History — April 2018

In April 2018, FORM traded between $11.45 and $15.00. ATM implied volatility averaged 50.5%, placing in the 43.1% IV rank vs the trailing year. The 30-day expected move averaged 15.4%. IV traded above realized volatility by 6.0% (HV 20d: 44.5%). 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 2 of 21 days. Put/call ratio averaged 0.51.

Notable Days

  • 2018-04-27: Highest Volume — 669 contracts
  • 2018-04-11: Largest IV spike — 77.3% change
  • 2018-04-30: Highest IV Rank — 74.5%
  • 2018-04-30: Largest Expected Move — 19.4%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$13.69$11.45$15.00$13.23$11.45
Max Pain$12.86$12.50$15.00$15.00$12.50
ATM IV50.5%31.9%67.5%54.7%67.5%
Expected Move15.4%9.9%19.4%15.7%19.4%
HV 20d44.5%35.1%69.3%50.6%68.9%
HV 60d48.6%45.7%57.1%49.0%57.1%
IV Rank43.1%8.5%74.5%50.7%74.5%
IV Percentile67.8%3.6%97.6%85.7%97.6%
Term Structure-6.8%-26.2%19.2%-4.3%-13.8%
VWIV51.2%30.8%67.7%47.1%67.7%
Skew 25d6.3%-6.1%20.6%-2.4%-6.1%
Skew 10d10.7%-20.2%41.1%3.0%-20.2%
Call IV 25d50.8%39.8%71.9%52.5%71.9%
Put IV 25d57.1%48.1%65.8%50.2%65.8%
Bid-Ask Spread %36.4511.63101.8523.8214.78
Gamma HHI0.430.260.830.340.32
Net GEX46.2K717182.3K26.0K6.4K
Net DEX-259.7K-1.2M266.0K-19.9K161.2K
Net VEX-4.3K-5.5K-2.1K-4.9K-2.5K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.510.131.051.050.13
Total Volume407.143195669492630
Total OI4,355.4291,8155,4285,2732,495

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2018-04-02$13.23$15.0054.7%15.7%50.6%50.7%47.1%-2.4%-4.3%26.0K-19.9K-4.9K1.0523.82N/AN/A2402524,2181,055
2018-04-03$13.53$15.0039.8%11.4%51.3%23.2%43.8%6.7%19.2%31.6K-125.6K-5.2K0.7629.33N/AN/A2421834,2631,056
2018-04-04$13.78$15.0034.4%9.9%51.4%13.2%30.8%10.6%10.5%42.6K-307.7K-5.5K0.6540.80N/AN/A2361534,2661,056
2018-04-05$13.58$12.5037.2%14.8%37.0%18.4%52.4%3.3%-2.7%31.8K-91.8K-4.8K0.6583.81N/AN/A2361534,2661,056
2018-04-06$13.18$12.5046.0%16.5%37.7%34.8%45.2%20.6%-11.8%25.6K-78.3K-4.9K0.5387.62N/AN/A2321234,2661,056
2018-04-09$13.13$12.5039.7%15.9%36.6%23.1%44.3%5.6%-9.6%4.2K266.0K-3.8K0.5418.35N/AN/A2291234,2661,061
2018-04-10$13.53$12.5031.9%15.9%39.0%8.5%52.7%5.3%-26.2%31.3K-132.2K-4.5K0.6165.89N/AN/A2291404,266979
2018-04-11$14.00$12.5056.5%16.2%41.6%54.1%52.5%5.3%-5.7%43.0K-360.3K-4.8K0.5498.82N/AN/A2431304,266964
2018-04-12$14.20$12.5054.1%15.5%42.0%49.8%50.9%4.4%-11.8%58.9K-620.0K-5.1K0.50101.85N/AN/A2601304,280964
2018-04-13$14.25$12.5051.9%14.9%41.9%45.6%52.8%2.1%-6.8%70.7K-351.7K-4.6K0.4618.06N/AN/A2801304,270964
2018-04-16$14.63$12.5049.9%14.3%43.1%41.9%49.3%9.5%-5.6%106.8K-675.0K-4.7K0.5015.08N/AN/A2781404,271964
2018-04-17$15.00$12.5048.7%14.0%44.1%39.8%48.1%6.4%-5.3%144.5K-1.2M-4.9K0.5417.22N/AN/A2671454,283966
2018-04-18$14.98$12.5050.9%14.6%43.8%43.7%51.8%4.6%-8.0%182.3K-1.1M-4.7K0.3225.02N/AN/A4591454,282948
2018-04-19$14.38$12.5052.9%15.2%45.3%47.6%46.9%16.0%-6.6%101.2K-624.8K-4.5K0.7026.42N/AN/A2611834,476948
2018-04-20$14.05$12.5053.8%15.4%44.3%49.1%56.6%-0.1%-8.9%12.9K-83.7K-4.0K0.5126.43N/AN/A2611344,476952
2018-04-23$13.98$12.5056.0%16.1%38.6%53.3%55.6%9.3%-10.2%11.9K-125.7K-3.6K0.3811.63N/AN/A2761041,318497
2018-04-24$13.85$12.5054.4%15.6%36.7%50.3%47.3%11.3%-8.8%13.8K-137.3K-3.7K0.5411.63N/AN/A160861,410507
2018-04-25$13.55$12.5062.9%18.0%36.3%66.1%60.8%7.0%-9.2%11.7K-66.8K-3.5K0.3113.19N/AN/A163501,411519
2018-04-26$13.70$12.5059.9%17.2%35.1%60.5%57.1%12.7%-12.3%13.3K-106.3K-3.6K0.3421.54N/AN/A145501,423528
2018-04-27$11.58$12.5058.2%16.7%69.3%57.3%60.8%1.2%-3.9%717260.3K-2.1K0.1614.22N/AN/A575941,424528
2018-04-30$11.45$12.5067.5%19.4%68.9%74.5%67.7%-6.1%-13.8%6.4K161.2K-2.5K0.1314.78N/AN/A558721,918577