FORM Options History — August 2018

In August 2018, FORM traded between $12.90 and $15.90. ATM implied volatility averaged 36.4%, placing in the 28.6% IV rank vs the trailing year. The 30-day expected move averaged 10.7%. IV traded below realized volatility by 11.6% (HV 20d: 48.0%). Max pain ranged from $12.50 to $15.00. Net GEX was positive for 12 of 23 trading days. Term structure was in contango for 18 of 23 days. Put/call ratio averaged 2.80.

Notable Days

  • 2018-08-02: Highest Volume — 1,630 contracts
  • 2018-08-02: Largest IV drop — 46.5% change
  • 2018-08-01: Highest IV Rank — 80.0%
  • 2018-08-01: Largest Expected Move — 19.7%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$14.11$12.90$15.90$12.90$15.38
Max Pain$12.83$12.50$15.00$15.00$12.50
ATM IV36.4%28.6%68.7%68.7%35.5%
Expected Move10.7%8.9%19.7%19.7%10.2%
HV 20d48.0%34.7%57.6%45.4%37.3%
HV 60d39.7%34.0%42.6%34.0%42.6%
IV Rank28.6%16.2%80.0%80.0%27.2%
IV Percentile20.7%4.8%98.4%98.4%17.5%
Term Structure0.5%-20.2%10.7%-7.6%1.0%
VWIV37.6%23.8%51.9%47.6%35.1%
Skew 25d5.2%-12.0%68.0%17.9%-6.4%
Skew 10d17.5%-11.0%126.6%58.1%-11.0%
Call IV 25d35.4%24.4%79.2%79.2%39.4%
Put IV 25d40.7%21.8%97.1%97.1%33.0%
Bid-Ask Spread %32.589.65108.0692.379.65
Gamma HHI0.520.390.800.710.40
Net GEX-10.8K-79.0K34.7K-50.1K34.7K
Net DEX241.9K-872.1K2.3M2.3M-872.1K
Net VEX-2.7K-3.9K-2.1K-3.8K-3.6K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio2.800.2110.7710.770.70
Total Volume944.1744021,6301,613402
Total OI1,905.6521,3543,3513,3512,120

Daily Data (23 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2018-08-01$12.90$15.0068.7%19.7%45.4%80.0%47.6%17.9%-7.6%-50.1K2.3M-3.8K10.7792.37N/AN/A1371,4767172,634
2018-08-02$14.25$15.0036.7%10.5%57.6%29.2%35.5%11.2%-2.0%-79.0K1.1M-3.9K4.6620.16N/AN/A2881,3427941,926
2018-08-03$14.25$15.0031.4%9.0%56.3%20.7%28.0%-5.8%3.2%-36.9K508.1K-3.3K5.4916.66N/AN/A2461,3518721,335
2018-08-06$14.20$12.5028.6%10.4%55.4%16.2%41.8%9.7%0.7%-37.7K551.0K-3.1K5.2113.67N/AN/A2421,2628731,335
2018-08-07$14.08$12.5034.4%10.5%53.1%25.5%38.4%7.6%1.2%-34.4K551.4K-3.1K5.2412.63N/AN/A2411,2628741,336
2018-08-08$13.98$12.5036.3%10.8%49.2%28.5%41.3%7.7%0.5%-29.0K612.3K-3.0K5.6611.27N/AN/A2231,2628761,336
2018-08-09$14.08$12.5030.3%10.4%49.1%19.0%41.0%7.4%2.5%-27.5K662.9K-2.9K5.5813.71N/AN/A2261,2628861,336
2018-08-10$13.90$12.5036.8%10.7%49.3%29.3%40.6%7.4%-0.2%-10.4K734.2K-2.7K5.5812.70N/AN/A2261,2628901,336
2018-08-13$14.10$12.5035.7%10.9%49.2%27.6%39.6%6.7%-0.8%-21.3K692.9K-2.7K5.8212.52N/AN/A2171,2629001,336
2018-08-14$13.98$12.5035.2%10.1%48.8%26.7%38.9%-8.9%2.3%-12.3K719.5K-2.6K1.2223.34N/AN/A2142629011,336
2018-08-15$13.40$12.5039.2%11.2%50.6%33.1%51.9%-7.2%-20.2%-3.6K771.7K-2.4K0.78108.06N/AN/A3432699141,333
2018-08-16$13.50$12.5036.7%10.5%50.5%29.2%33.7%3.7%10.7%1.8K-89.1K-2.5K0.78106.77N/AN/A343269822673
2018-08-17$13.33$12.5039.3%11.3%50.5%33.3%38.9%13.1%2.0%687-51.8K-2.3K0.82103.83N/AN/A328269822673
2018-08-20$13.38$12.5041.2%11.8%50.5%36.3%40.8%2.6%0.8%1.2K-57.1K-2.3K0.8223.72N/AN/A304249770584
2018-08-21$13.78$12.5035.6%10.2%51.2%27.3%40.7%4.1%0.9%2.8K-138.5K-2.4K0.8421.49N/AN/A298249782597
2018-08-22$13.78$12.5034.6%9.9%43.1%25.8%38.5%3.1%1.3%2.8K-131.0K-2.4K0.8663.87N/AN/A296256784597
2018-08-23$13.83$12.5033.5%9.6%42.6%24.1%33.0%-12.0%2.4%3.0K-141.9K-2.4K0.8612.32N/AN/A296256783599
2018-08-24$13.98$12.5033.9%9.7%42.6%24.6%23.8%-10.0%2.1%3.8K-169.3K-2.3K0.8616.12N/AN/A298256783599
2018-08-27$14.70$12.5032.6%9.3%45.1%22.6%32.4%-0.2%3.5%7.4K-335.8K-2.3K0.5210.79N/AN/A324167783599
2018-08-28$14.63$12.5031.2%8.9%45.3%20.4%33.0%-0.7%3.5%7.9K-330.3K-2.3K0.6011.02N/AN/A281168794600
2018-08-29$15.28$12.5032.4%9.3%46.9%22.3%32.2%68.0%2.3%10.9K-504.1K-2.1K0.4112.20N/AN/A418171808600
2018-08-30$15.90$12.5037.1%10.6%34.7%29.8%37.5%1.7%0.9%17.7K-821.1K-2.6K0.2120.37N/AN/A777166981601
2018-08-31$15.38$12.5035.5%10.2%37.3%27.2%35.1%-6.4%1.0%34.7K-872.1K-3.6K0.709.65N/AN/A2361661,520600