FORM Options History — December 2018

In December 2018, FORM traded between $12.86 and $16.35. ATM implied volatility averaged 51.6%, placing in the 52.9% IV rank vs the trailing year. The 30-day expected move averaged 14.1%. IV traded above realized volatility by 8.4% (HV 20d: 43.2%). Max pain ranged from $15.00 to $15.00. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 15 of 20 days. Put/call ratio averaged 24.88.

Notable Days

  • 2018-12-03: Highest Volume — 421 contracts
  • 2018-12-07: Largest IV spike — 44.3% change
  • 2018-12-07: Highest IV Rank — 86.8%
  • 2018-12-24: Largest Expected Move — 18.0%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$14.47$12.86$16.35$16.35$14.06
Max Pain$15.00$15.00$15.00$15.00$15.00
ATM IV51.6%37.3%73.0%37.3%45.8%
Expected Move14.1%10.7%18.0%10.7%13.1%
HV 20d43.2%39.3%56.4%56.4%40.1%
HV 60d73.1%72.2%74.5%72.2%73.0%
IV Rank52.9%30.0%86.8%30.0%43.7%
IV Percentile69.5%29.0%99.2%29.0%52.8%
Term Structure7.5%-7.1%37.8%0.2%15.1%
VWIV48.7%30.6%61.7%46.5%49.8%
Skew 25d6.2%-12.0%34.0%4.6%12.6%
Skew 10d3.3%-27.5%30.3%-8.7%7.8%
Call IV 25d46.1%34.6%63.8%38.6%47.5%
Put IV 25d52.3%33.9%70.0%43.2%60.1%
Bid-Ask Spread %89.5755.21109.6785.57101.68
Gamma HHI0.550.440.690.460.55
Net GEX23.3K9.4K48.1K48.1K13.4K
Net DEX-740.9K-1.9M27.4K-1.9M-376.1K
Net VEX-10.2K-11.7K-8.6K-11.0K-9.2K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio24.880.03420.00420.000.38
Total Volume115.2504214210
Total OI3,647.853,1443,8583,5593,164

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2018-12-03$16.35$15.0037.3%10.7%56.4%30.0%0.0%4.6%0.2%48.1K-1.9M-11.0K420.0085.57N/AN/A14202,5371,022
2018-12-04$15.70$15.0046.7%13.4%44.9%45.0%46.5%1.9%-5.6%33.8K-1.3M-11.7K3.6589.41N/AN/A833032,5371,232
2018-12-05$15.58$15.0051.1%14.7%45.0%52.0%51.0%13.6%-6.5%29.4K-1.2M-11.4K3.6591.64N/AN/A833032,5371,232
2018-12-06$15.46$15.0050.6%12.9%45.2%51.2%44.8%5.1%4.3%34.2K-1.2M-11.6K0.0070.95N/AN/A012,5991,235
2018-12-07$15.20$15.0073.0%14.4%45.6%86.8%48.8%8.9%15.6%32.9K-1.4M-11.6K3.7180.27N/AN/A823042,5991,234
2018-12-10$15.29$15.0053.5%13.6%44.3%55.8%49.5%7.4%2.3%31.7K-1.2M-11.2K1.7555.21N/AN/A8142,6071,234
2018-12-11$14.99$15.0059.3%12.8%42.7%65.1%47.1%-0.7%4.0%29.9K-1.1M-10.9K2.7595.07N/AN/A8222,6101,248
2018-12-12$15.14$15.0044.1%12.7%42.6%41.0%41.4%-4.3%4.9%31.8K-1.1M-10.9K2.5693.97N/AN/A9232,6101,248
2018-12-13$14.95$15.0048.6%13.9%42.7%48.0%48.6%2.4%-7.1%27.8K-1.0M-10.8K2.56109.67N/AN/A9232,6101,247
2018-12-14$14.43$15.0046.0%13.2%43.0%43.8%41.4%-12.0%2.9%23.3K-638.6K-10.5K2.6488.27N/AN/A11292,6101,247
2018-12-17$14.06$15.0047.3%13.6%43.8%46.0%51.8%4.4%4.0%21.4K-499.3K-10.0K1.0082.11N/AN/A552,6111,218
2018-12-18$14.43$15.0048.0%13.8%39.3%47.0%49.9%5.4%3.0%25.8K-609.8K-10.1K0.8687.62N/AN/A56482,6071,202
2018-12-19$13.64$15.0045.5%13.1%41.0%43.2%30.6%17.4%24.3%13.2K-370.0K-9.7K0.3987.64N/AN/A57222,6431,205
2018-12-20$13.49$15.0059.8%17.1%41.0%65.9%51.9%6.0%-2.9%11.9K-164.4K-9.3K0.7282.92N/AN/A58422,6451,195
2018-12-21$12.89$15.0056.6%16.2%43.0%60.8%52.2%2.5%-1.5%9.4K27.4K-8.6K0.5397.54N/AN/A60322,6451,191
2018-12-24$12.86$15.0062.8%18.0%39.5%70.7%61.7%34.0%37.8%10.2K-80.2K-8.6K0.2598.28N/AN/A53132,0241,120
2018-12-26$13.39$15.0053.0%15.2%43.3%55.0%55.6%1.4%30.1%10.6K-132.6K-8.8K0.0399.77N/AN/A3112,0241,120
2018-12-27$13.60$15.0056.8%16.3%39.5%61.0%54.3%6.2%23.9%12.8K-217.7K-9.0K0.3596.57N/AN/A31112,0291,120
2018-12-28$13.97$15.0046.9%13.4%41.4%45.3%49.8%6.8%2.0%14.3K-379.8K-9.3K0.3897.32N/AN/A32122,0291,130
2018-12-31$14.06$15.0045.8%13.1%40.1%43.7%0.0%12.6%15.1%13.4K-376.1K-9.2K0.00101.68N/AN/A002,0341,130