FORM Options History — November 2018

In November 2018, FORM traded between $14.03 and $16.50. ATM implied volatility averaged 49.5%, placing in the 49.5% IV rank vs the trailing year. The 30-day expected move averaged 13.5%. IV traded below realized volatility by 59.1% (HV 20d: 108.6%). Max pain ranged from $12.50 to $17.50. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 3 of 21 days. Put/call ratio averaged 0.41.

Notable Days

  • 2018-11-05: Highest Volume — 3,681 contracts
  • 2018-11-12: Largest IV spike — 37.8% change
  • 2018-11-12: Highest IV Rank — 74.4%
  • 2018-11-23: Largest Expected Move — 14.2%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$15.12$14.03$16.50$16.01$16.50
Max Pain$16.07$12.50$17.50$12.50$15.00
ATM IV49.5%40.3%65.2%49.3%41.8%
Expected Move13.5%11.6%14.2%14.1%12.0%
HV 20d108.6%57.2%114.3%106.1%57.2%
HV 60d72.8%69.6%74.1%69.6%72.5%
IV Rank49.5%34.9%74.4%49.1%37.2%
IV Percentile67.9%43.7%96.0%71.4%44.0%
Term Structure-2.4%-5.3%3.3%3.3%-1.5%
VWIV46.2%42.5%53.0%43.8%46.0%
Skew 25d4.6%-15.8%8.8%4.3%5.7%
Skew 10d6.8%-13.3%21.5%-12.0%6.8%
Call IV 25d46.1%41.7%53.5%53.5%41.7%
Put IV 25d50.7%31.8%57.8%57.8%47.4%
Bid-Ask Spread %41.1815.4790.4352.7789.31
Gamma HHI0.680.470.960.570.47
Net GEX87.4K3.3K472.1K3.3K45.1K
Net DEX-1.1M-2.1M-249.1K-249.1K-1.6M
Net VEX-8.3K-10.6K-2.2K-2.2K-8.9K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.410.061.080.320.06
Total Volume1,675.5241913,6812,1362,565
Total OI3,720.1439104,7699103,242

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2018-11-01$16.01$12.5049.3%14.1%106.1%49.1%43.8%4.3%3.3%3.3K-249.1K-2.2K0.3252.77N/AN/A1,624512426484
2018-11-02$16.49$15.0040.3%11.6%104.9%34.9%53.0%1.7%-2.7%51.1K-2.1M-3.9K0.4157.15N/AN/A5962451,921872
2018-11-05$14.90$17.5054.1%14.2%111.7%56.8%46.2%7.8%-4.5%72.6K-891.1K-4.9K0.2622.05N/AN/A2,9287532,361967
2018-11-06$14.92$17.5056.8%14.2%111.7%61.0%45.5%7.3%-4.5%92.5K-1.5M-10.6K0.4116.92N/AN/A1,7437103,5021,225
2018-11-07$14.93$17.5051.8%13.5%111.0%53.2%44.8%7.5%-2.4%102.4K-1.5M-10.5K0.3316.04N/AN/A1,7535793,5031,227
2018-11-08$14.98$17.5056.4%13.8%111.0%60.4%43.8%6.3%-5.3%103.2K-1.6M-10.4K0.3316.04N/AN/A1,7445823,5081,208
2018-11-09$14.55$17.5047.3%13.6%111.9%46.0%45.3%5.1%-3.5%109.9K-1.0M-9.9K0.3319.60N/AN/A1,7455733,5231,204
2018-11-12$14.03$17.5065.2%14.0%112.9%74.4%48.6%4.6%-3.7%77.6K-610.0K-8.8K0.2819.66N/AN/A1,7454913,5241,202
2018-11-13$14.23$17.5056.1%13.4%112.2%60.0%46.1%6.5%-2.5%96.9K-628.4K-8.8K0.2820.48N/AN/A1,7524833,5281,206
2018-11-14$14.45$17.5047.5%13.6%112.2%46.3%44.8%8.0%-3.6%126.3K-599.9K-8.9K0.2822.37N/AN/A1,7674863,5361,198
2018-11-15$14.93$17.5045.3%13.0%111.6%42.9%44.4%3.5%-1.3%233.5K-1.4M-9.2K0.2824.82N/AN/A1,7524993,5581,189
2018-11-16$14.98$17.5045.3%13.0%110.9%42.8%42.5%-8.2%-2.5%472.1K-1.5M-8.9K0.2827.73N/AN/A1,7364803,5621,207
2018-11-19$14.10$15.0047.0%13.5%113.7%45.5%48.1%-15.8%-3.0%20.3K-377.4K-8.0K0.2829.24N/AN/A1,6724742,102967
2018-11-20$14.72$15.0048.9%14.0%114.3%48.5%48.3%8.1%-2.4%23.4K-684.0K-8.6K0.3581.87N/AN/A1,3604782,108967
2018-11-21$14.76$15.0046.0%13.2%111.8%44.0%46.4%8.4%1.2%26.1K-678.1K-8.6K0.4672.38N/AN/A177812,157968
2018-11-23$14.92$15.0049.7%14.2%111.8%49.8%49.7%8.8%-2.8%27.8K-803.2K-8.7K0.7578.07N/AN/A109822,174976
2018-11-26$15.51$15.0047.7%13.7%111.8%46.6%48.0%7.9%-2.2%34.3K-986.7K-8.8K0.6373.79N/AN/A142892,204980
2018-11-27$15.43$15.0047.3%13.6%110.8%46.0%46.2%5.9%-1.8%34.1K-1.0M-8.8K0.6315.47N/AN/A138872,221985
2018-11-28$16.16$15.0047.1%13.5%110.6%45.7%43.4%6.9%0.8%40.8K-1.4M-9.0K0.6218.64N/AN/A140872,222985
2018-11-29$16.11$15.0048.6%13.9%110.8%48.1%44.9%6.7%-4.4%42.1K-1.4M-8.9K1.0890.43N/AN/A1091182,239985
2018-11-30$16.50$15.0041.8%12.0%57.2%37.2%46.0%5.7%-1.5%45.1K-1.6M-8.9K0.0689.31N/AN/A2,4191462,2411,001