FORM Options History — January 2019

In January 2019, FORM traded between $12.95 and $14.94. ATM implied volatility averaged 61.0%, placing in the 67.8% IV rank vs the trailing year. The 30-day expected move averaged 18.3%. IV traded above realized volatility by 12.6% (HV 20d: 48.4%). Max pain ranged from $10.00 to $15.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 3 of 21 days. Put/call ratio averaged 2.45.

Notable Days

  • 2019-01-10: Highest Volume — 177 contracts
  • 2019-01-09: Largest IV spike — 79.5% change
  • 2019-01-31: Highest IV Rank — 93.9%
  • 2019-01-30: Largest Expected Move — 21.5%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$13.90$12.95$14.94$14.01$14.94
Max Pain$14.52$10.00$15.00$15.00$15.00
ATM IV61.0%33.4%77.5%43.5%77.5%
Expected Move18.3%12.5%21.5%12.5%15.8%
HV 20d48.4%40.2%50.8%40.2%49.3%
HV 60d71.7%48.8%74.7%72.7%48.8%
IV Rank67.8%23.9%93.9%40.0%93.9%
IV Percentile82.4%11.5%99.6%43.7%99.6%
Term Structure-6.8%-20.8%52.5%19.4%-4.5%
VWIV63.9%53.5%74.8%57.8%53.5%
Skew 25d8.6%2.3%21.7%16.9%5.1%
Skew 10d15.4%-7.3%36.7%10.0%16.0%
Call IV 25d59.7%41.9%75.0%41.9%53.7%
Put IV 25d68.3%58.8%80.7%58.8%58.8%
Bid-Ask Spread %78.9565.97104.7999.2365.97
Gamma HHI0.530.460.600.540.60
Net GEX13.3K8.8K21.0K13.5K21.0K
Net DEX-333.0K-813.9K-43.2K-388.6K-813.9K
Net VEX-8.6K-9.1K-7.7K-9.1K-9.1K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio2.450.0032.0032.000.22
Total Volume70.52401776662
Total OI3,123.7142,7233,4023,1642,965

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2019-01-02$14.01$15.0043.5%12.5%40.2%40.0%57.8%16.9%19.4%13.5K-388.6K-9.1K32.0099.23N/AN/A2642,0341,130
2019-01-03$12.95$10.0058.4%16.6%46.1%63.6%70.6%17.6%7.6%10.2K-252.5K-8.7K4.50104.79N/AN/A16722,0341,193
2019-01-04$13.51$12.5046.1%18.2%49.7%44.1%63.1%8.1%-10.0%10.7K-152.8K-8.9K1.9577.97N/AN/A37722,0441,197
2019-01-07$13.57$12.5033.4%18.5%49.9%23.9%60.1%7.1%-9.6%10.2K-168.3K-8.6K0.5773.72N/AN/A35202,0501,197
2019-01-08$13.49$15.0034.8%18.7%49.7%26.1%61.1%6.0%-11.3%9.4K-126.7K-8.4K0.3777.09N/AN/A54202,0291,217
2019-01-09$13.72$15.0062.4%17.9%50.2%70.0%60.0%8.0%-4.0%11.4K-238.9K-8.9K0.3677.11N/AN/A55202,0531,217
2019-01-10$14.02$15.0059.4%17.0%50.8%65.3%60.7%6.6%-8.8%12.9K-347.0K-9.0K2.1169.82N/AN/A571202,0531,217
2019-01-11$14.10$15.0060.0%17.2%50.7%66.1%61.0%6.2%-10.7%13.1K-351.8K-9.0K2.5870.06N/AN/A481242,0541,317
2019-01-14$13.89$15.0060.7%17.4%50.7%67.3%0.0%5.5%-11.1%10.8K-290.4K-8.6K0.0075.79N/AN/A2202,0591,321
2019-01-15$13.56$15.0065.0%18.6%49.9%74.1%0.0%7.0%-13.1%9.0K-154.2K-8.4K0.0077.89N/AN/A1702,0811,321
2019-01-16$13.53$15.0066.0%18.9%49.2%75.8%0.0%14.2%-14.5%8.8K-219.4K-8.4K0.0076.61N/AN/A1702,0811,277
2019-01-17$13.57$15.0066.0%18.9%48.1%75.7%0.0%8.0%-17.6%12.8K-156.6K-8.1K1.3691.72N/AN/A22302,0811,277
2019-01-18$13.95$15.0060.2%17.3%44.9%66.5%0.0%10.4%-13.3%12.9K-195.4K-8.3K1.7486.43N/AN/A27472,0861,294
2019-01-22$13.39$15.0068.1%19.5%47.2%79.1%63.5%3.9%52.5%13.4K-203.7K-8.1K0.1185.90N/AN/A1821,7241,010
2019-01-23$13.19$15.0069.9%20.0%44.5%81.8%67.7%6.7%-12.3%12.7K-43.2K-7.7K0.0468.99N/AN/A5121,7421,012
2019-01-24$13.93$15.0064.5%18.5%48.3%73.4%65.6%5.4%-11.0%12.6K-303.0K-8.4K0.0769.88N/AN/A8661,7111,012
2019-01-25$14.68$15.0064.4%18.5%49.7%73.2%64.7%21.7%-11.5%15.1K-594.4K-9.0K0.0484.11N/AN/A17161,7561,011
2019-01-28$14.64$15.0072.6%20.8%49.6%86.2%0.0%2.3%-19.8%19.4K-672.1K-9.1K0.0075.84N/AN/A001,8961,011
2019-01-29$14.51$15.0074.0%21.2%49.0%88.4%74.0%8.3%-18.2%19.0K-602.2K-8.9K0.8367.96N/AN/A12101,8961,011
2019-01-30$14.69$15.0075.0%21.5%49.1%90.0%74.8%5.7%-20.8%19.4K-718.3K-9.0K0.2481.05N/AN/A46111,9061,021
2019-01-31$14.94$15.0077.5%15.8%49.3%93.9%53.5%5.1%-4.5%21.0K-813.9K-9.1K0.2265.97N/AN/A51111,9441,021