FORM Options History — May 2018

In May 2018, FORM traded between $11.45 and $13.63. ATM implied volatility averaged 42.1%, placing in the 28.0% IV rank vs the trailing year. The 30-day expected move averaged 12.1%. IV traded below realized volatility by 20.6% (HV 20d: 62.7%). Max pain ranged from $10.00 to $12.50. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 10 of 22 days. Put/call ratio averaged 0.23.

Notable Days

  • 2018-05-18: Highest Volume — 602 contracts
  • 2018-05-30: Largest IV drop — 29.2% change
  • 2018-05-01: Highest IV Rank — 72.7%
  • 2018-05-01: Largest Expected Move — 19.1%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$12.99$11.45$13.63$11.45$13.63
Max Pain$12.27$10.00$12.50$12.50$12.50
ATM IV42.1%24.0%66.5%66.5%25.8%
Expected Move12.1%6.9%19.1%19.1%7.4%
HV 20d62.7%28.6%72.6%68.1%28.6%
HV 60d54.6%52.3%57.5%56.6%52.3%
IV Rank28.0%0.0%72.7%72.7%3.1%
IV Percentile40.6%0.0%96.8%96.8%0.4%
Term Structure1.4%-11.8%18.0%-11.8%11.3%
VWIV40.8%25.2%67.9%67.9%25.2%
Skew 25d4.0%-10.0%16.1%-2.6%-1.0%
Skew 10d8.2%-14.5%74.1%-14.5%-0.8%
Call IV 25d40.1%22.5%69.8%69.8%24.3%
Put IV 25d44.1%23.3%71.4%67.1%23.3%
Bid-Ask Spread %40.486.90110.3218.3454.82
Gamma HHI0.470.300.600.300.32
Net GEX19.3K6.1K27.4K6.1K11.6K
Net DEX-338.9K-590.3K159.0K159.0K-513.9K
Net VEX-3.2K-3.6K-2.4K-2.4K-2.9K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.230.120.340.260.31
Total Volume418.227333602333342
Total OI2,692.5452,4492,9942,4952,526

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2018-05-01$11.45$12.5066.5%19.1%68.1%72.7%67.9%-2.6%-11.8%6.1K159.0K-2.4K0.2618.34N/AN/A264691,922573
2018-05-02$11.78$12.5062.0%17.8%68.7%64.4%62.9%16.1%-7.6%8.1K86.7K-2.7K0.2426.00N/AN/A293691,928574
2018-05-03$12.40$10.0048.3%13.2%71.8%38.9%44.6%6.4%-1.2%18.4K-102.0K-3.0K0.1826.89N/AN/A375662,099574
2018-05-04$12.33$10.0036.8%13.0%71.2%17.7%46.6%2.9%-1.5%20.0K-56.0K-3.2K0.1821.30N/AN/A381672,178574
2018-05-07$12.80$12.5047.0%13.4%72.6%36.5%39.0%9.6%-2.9%22.7K-227.9K-3.4K0.3424.38N/AN/A285972,186574
2018-05-08$12.65$12.5045.8%13.0%71.7%34.4%43.9%5.3%-0.9%22.1K-191.6K-3.3K0.3419.63N/AN/A285972,193584
2018-05-09$12.98$12.5044.9%12.9%71.2%32.7%43.2%-3.1%-1.1%27.4K-381.9K-3.6K0.2415.00N/AN/A404972,307584
2018-05-10$13.13$12.5043.7%12.5%71.1%30.4%37.4%-0.4%-0.5%25.1K-426.3K-3.5K0.3014.10N/AN/A293892,297584
2018-05-11$13.08$12.5044.4%12.7%71.1%31.7%43.2%0.2%-3.1%26.3K-419.2K-3.5K0.3018.45N/AN/A296892,297580
2018-05-14$13.25$12.5046.8%13.4%70.5%36.1%42.5%2.3%-2.3%18.9K-499.2K-3.3K0.2816.11N/AN/A322892,301580
2018-05-15$13.08$12.5044.6%12.8%69.6%32.2%42.0%0.8%-0.9%23.9K-450.8K-3.3K0.2130.98N/AN/A294632,336580
2018-05-16$13.30$12.5042.4%12.1%70.1%28.0%37.5%2.9%0.0%19.5K-560.6K-3.3K0.1918.44N/AN/A376702,336581
2018-05-17$13.23$12.5036.4%10.4%68.9%17.0%35.6%10.1%5.0%22.3K-590.3K-3.3K0.1716.40N/AN/A421702,421573
2018-05-18$13.00$12.5039.5%11.3%68.7%22.7%39.1%-2.1%2.4%18.6K-524.4K-3.2K0.1512.85N/AN/A522802,421573
2018-05-21$13.13$12.5037.9%10.9%68.9%19.8%34.7%9.3%3.6%18.0K-314.9K-3.2K0.12103.39N/AN/A493601,891558
2018-05-22$13.35$12.5038.0%10.9%69.2%20.0%35.6%4.1%5.8%22.3K-345.5K-3.1K0.12107.89N/AN/A518601,891559
2018-05-23$13.38$12.5039.0%11.2%68.8%21.8%45.0%-10.0%4.4%18.7K-360.4K-3.3K0.15101.52N/AN/A395601,939559
2018-05-24$13.20$12.5039.1%11.2%68.8%22.0%37.1%10.6%-1.2%19.9K-354.8K-3.2K0.22110.32N/AN/A279601,939559
2018-05-25$13.53$12.5039.1%11.2%30.2%21.9%36.1%9.4%4.0%23.3K-419.7K-3.1K0.22107.79N/AN/A274601,938559
2018-05-29$13.48$12.5033.9%9.7%29.6%12.4%31.9%13.2%11.5%18.7K-435.7K-3.0K0.2219.02N/AN/A274601,945559
2018-05-30$13.60$12.5024.0%6.9%29.5%0.0%25.9%3.6%18.0%11.8K-526.7K-2.9K0.306.90N/AN/A263801,945559
2018-05-31$13.63$12.5025.8%7.4%28.6%3.1%25.2%-1.0%11.3%11.6K-513.9K-2.9K0.3154.82N/AN/A262801,947579