FORM Options History — September 2019

In September 2019, FORM traded between $17.19 and $19.59. ATM implied volatility averaged 32.5%, placing in the 16.3% IV rank vs the trailing year. The 30-day expected move averaged 9.3%. IV traded above realized volatility by 3.8% (HV 20d: 28.6%). Max pain ranged from $15.00 to $17.50. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 19 of 20 days. Put/call ratio averaged 3.00.

Notable Days

  • 2019-09-20: Highest Volume — 1,080 contracts
  • 2019-09-09: Largest IV spike — 21.8% change
  • 2019-09-10: Highest IV Rank — 24.2%
  • 2019-09-10: Largest Expected Move — 10.2%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$18.61$17.19$19.59$17.19$18.72
Max Pain$15.50$15.00$17.50$15.00$17.50
ATM IV32.5%27.3%37.9%32.1%27.7%
Expected Move9.3%7.9%10.2%9.2%7.9%
HV 20d28.6%24.5%31.1%26.5%31.1%
HV 60d32.5%31.4%34.0%34.0%33.0%
IV Rank16.3%8.9%24.2%15.7%9.5%
IV Percentile16.8%4.4%36.9%13.5%4.8%
Term Structure8.0%-1.1%14.5%0.1%14.5%
VWIV32.3%23.5%36.3%32.1%35.3%
Skew 25d1.9%-12.0%19.0%-2.0%-10.4%
Skew 10d-0.5%-19.4%16.3%-1.9%-12.4%
Call IV 25d30.9%21.4%36.9%30.3%33.2%
Put IV 25d32.8%22.2%40.4%28.3%22.8%
Bid-Ask Spread %80.8368.06101.5075.0682.10
Gamma HHI0.550.420.790.690.44
Net GEX60.4K42.8K94.3K60.3K47.9K
Net DEX-1.5M-2.4M-605.6K-605.6K-1.2M
Net VEX-3.7K-5.3K-2.8K-3.4K-5.0K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio3.000.0032.200.000.00
Total Volume15301,08012
Total OI3,294.452,8603,6262,9263,439

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2019-09-03$17.19$15.0032.1%9.2%26.5%15.7%32.1%-2.0%0.1%60.3K-605.6K-3.4K0.0075.06N/AN/A101,1911,735
2019-09-04$17.46$15.0032.5%9.3%27.0%16.3%31.8%3.5%-1.1%66.6K-787.3K-3.2K0.1778.04N/AN/A1221,1921,735
2019-09-05$17.82$15.0030.4%9.0%27.4%13.4%30.5%-3.2%8.5%73.0K-1.0M-3.2K0.0068.06N/AN/A13101,2031,737
2019-09-06$17.64$15.0027.3%8.8%26.8%8.9%28.7%5.0%8.5%94.3K-1.0M-3.2K0.0076.84N/AN/A3201,2701,737
2019-09-09$18.20$15.0033.3%9.1%26.9%17.5%31.7%1.0%8.3%78.0K-1.4M-2.8K32.2072.86N/AN/A51611,2551,737
2019-09-10$18.02$15.0037.9%10.2%27.4%24.2%0.0%19.0%5.3%92.6K-1.3M-3.5K0.0092.40N/AN/A601,5761,737
2019-09-11$18.82$15.0032.6%9.3%30.5%16.5%0.0%3.7%6.7%58.6K-1.9M-2.9K0.0086.43N/AN/A20701,5761,737
2019-09-12$18.55$15.0034.9%10.0%30.7%19.9%32.1%4.5%7.2%67.2K-1.9M-3.4K0.0088.89N/AN/A501,7131,737
2019-09-13$18.68$15.0034.1%9.8%30.5%18.6%34.4%1.1%6.5%56.0K-2.0M-3.3K0.2568.68N/AN/A3281,7181,737
2019-09-16$18.85$15.0033.6%9.6%29.1%18.0%34.7%1.4%5.7%48.5K-2.0M-3.4K0.1472.77N/AN/A1421,7211,745
2019-09-17$19.20$15.0032.9%9.4%29.3%17.0%36.3%8.8%6.9%55.4K-2.2M-3.2K3.0068.13N/AN/A11331,7191,745
2019-09-18$19.59$15.0031.7%9.1%29.5%15.3%34.9%8.0%6.8%67.7K-2.4M-3.1K0.1694.41N/AN/A64101,7291,775
2019-09-19$19.30$15.0032.4%9.3%30.5%16.2%32.4%-8.3%5.1%54.4K-2.2M-3.5K0.04101.50N/AN/A250101,7271,785
2019-09-20$19.30$15.0031.6%9.1%30.4%15.1%23.5%3.7%6.8%45.4K-2.3M-3.8K0.2795.21N/AN/A8502301,8411,785
2019-09-23$19.34$15.0032.8%9.4%24.5%16.9%33.4%-2.4%11.6%47.3K-1.1M-3.5K17.5078.35N/AN/A2351,0971,763
2019-09-24$18.84$15.0032.2%9.2%27.3%15.9%33.1%4.5%13.0%50.5K-1.4M-5.3K3.2975.52N/AN/A2016611,4721,987
2019-09-25$19.31$17.5032.0%9.2%27.7%15.7%32.0%-0.5%12.9%51.1K-1.5M-5.0K0.0074.98N/AN/A301,4072,005
2019-09-26$18.99$17.5032.2%9.2%28.8%16.0%0.0%-12.0%12.6%49.7K-1.3M-5.0K0.0083.41N/AN/A001,4072,005
2019-09-27$18.45$17.5035.3%10.1%30.9%20.4%35.3%13.2%14.2%42.8K-1.1M-5.0K0.0082.91N/AN/A8001,4072,005
2019-09-30$18.72$17.5027.7%7.9%31.1%9.5%0.0%-10.4%14.5%47.9K-1.2M-5.0K0.0082.10N/AN/A201,4342,005