FORM Options History — March 2019

In March 2019, FORM traded between $15.07 and $16.45. ATM implied volatility averaged 32.0%, placing in the 18.9% IV rank vs the trailing year. The 30-day expected move averaged 11.3%. IV traded above realized volatility by 8.6% (HV 20d: 23.4%). Max pain ranged from $15.00 to $15.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 21 of 21 days. Put/call ratio averaged 8.51.

Notable Days

  • 2019-03-21: Highest Volume — 179 contracts
  • 2019-03-04: Largest IV spike — 28.8% change
  • 2019-03-12: Highest IV Rank — 29.2%
  • 2019-03-18: Largest Expected Move — 15.7%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$15.68$15.07$16.45$15.94$16.10
Max Pain$15.00$15.00$15.00$15.00$15.00
ATM IV32.0%22.6%39.5%22.6%31.6%
Expected Move11.3%6.5%15.7%6.5%12.8%
HV 20d23.4%18.7%29.2%18.8%28.1%
HV 60d36.2%33.6%38.5%38.5%34.0%
IV Rank18.9%5.8%29.2%5.8%18.4%
IV Percentile16.7%1.2%39.7%1.2%13.1%
Term Structure8.8%0.3%20.8%9.7%14.4%
VWIV39.4%25.1%45.1%25.1%41.4%
Skew 25d12.7%1.6%21.8%3.5%13.3%
Skew 10d15.6%2.2%29.9%2.2%13.4%
Call IV 25d24.9%17.8%32.2%19.7%21.0%
Put IV 25d37.6%23.2%47.5%23.2%34.4%
Bid-Ask Spread %88.6876.83120.7287.27103.29
Gamma HHI0.540.480.580.530.52
Net GEX44.9K37.2K54.1K42.3K54.1K
Net DEX-1.2M-1.8M-712.9K-1.4M-1.4M
Net VEX-8.3K-9.4K-7.2K-9.4K-7.2K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio8.510.0047.001.072.24
Total Volume51.524017912655
Total OI3,729.6193,6713,7913,7243,791

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2019-03-01$15.94$15.0022.6%6.5%18.8%5.8%25.1%3.5%9.7%42.3K-1.4M-9.4K1.0787.27N/AN/A61652,5391,185
2019-03-04$15.81$15.0029.1%8.3%18.7%14.8%0.0%6.9%6.0%43.0K-1.4M-9.2K0.0086.75N/AN/A002,5391,185
2019-03-05$15.76$15.0023.6%6.8%18.8%7.2%0.0%9.8%3.4%41.6K-1.3M-9.1K0.0085.94N/AN/A002,5391,185
2019-03-06$15.47$15.0026.8%7.7%20.1%11.6%0.0%10.4%5.5%41.3K-1.1M-8.9K0.0091.26N/AN/A0142,5391,185
2019-03-07$15.15$15.0028.1%8.0%21.5%13.4%0.0%19.7%0.5%38.9K-916.6K-8.9K1.4096.70N/AN/A10142,5391,199
2019-03-08$15.07$15.0035.9%10.3%21.6%24.3%0.0%18.3%3.2%37.2K-712.9K-8.5K0.9384.62N/AN/A15142,5491,199
2019-03-11$15.49$15.0034.0%11.5%23.8%21.6%0.0%21.6%1.6%40.1K-1.0M-8.6K0.0087.56N/AN/A302,5441,199
2019-03-12$15.41$15.0039.5%11.5%23.8%29.2%0.0%21.8%1.7%37.8K-976.8K-8.5K0.0078.80N/AN/A002,5431,199
2019-03-13$15.47$15.0035.7%11.7%21.6%23.9%0.0%21.1%2.7%41.1K-1.0M-8.5K0.0092.39N/AN/A0222,5431,188
2019-03-14$15.43$15.0033.4%11.7%21.4%20.8%40.6%18.7%7.6%42.7K-1.0M-8.1K1.0590.86N/AN/A21222,5431,188
2019-03-15$15.68$15.0039.4%11.0%21.8%29.1%35.5%17.6%0.3%45.3K-1.3M-8.5K0.3790.67N/AN/A78292,5621,173
2019-03-18$15.59$0.0037.3%15.7%21.9%26.2%0.0%16.2%19.1%47.3K-1.2M-8.4K0.00120.72N/AN/A0182,5501,121
2019-03-19$15.86$0.0030.7%13.0%22.8%17.1%0.0%17.1%18.8%47.8K-1.4M-8.3K0.0083.01N/AN/A0212,5501,134
2019-03-20$15.82$0.0036.1%12.5%22.5%24.5%40.5%4.4%4.6%49.2K-1.4M-8.1K0.5285.98N/AN/A61322,5501,134
2019-03-21$16.45$15.0027.0%12.3%26.6%11.9%43.9%1.8%14.5%51.5K-1.8M-7.9K0.2380.57N/AN/A145342,5581,124
2019-03-22$15.85$15.0033.3%13.3%29.2%20.7%45.1%14.7%12.6%48.4K-1.4M-8.1K0.4479.27N/AN/A123542,5911,140
2019-03-25$15.82$15.0033.8%13.3%28.2%21.3%0.0%13.5%12.9%46.8K-1.3M-7.8K0.0076.83N/AN/A0472,5881,130
2019-03-26$15.79$15.0029.7%13.3%27.9%15.7%0.0%3.0%20.8%48.5K-1.3M-7.6K47.0077.27N/AN/A1472,5881,177
2019-03-27$15.68$15.0031.0%13.0%26.4%17.5%0.0%1.6%10.2%49.0K-1.2M-7.3K47.0091.20N/AN/A1472,5891,177
2019-03-28$15.68$15.0033.6%13.3%26.4%21.0%43.4%12.3%15.5%49.5K-1.1M-7.4K8.3391.23N/AN/A3252,5891,177
2019-03-29$16.10$15.0031.6%12.8%28.1%18.4%41.4%13.3%14.4%54.1K-1.4M-7.2K2.24103.29N/AN/A17382,5891,202