FORM Options History — November 2019

In November 2019, FORM traded between $22.29 and $23.34. ATM implied volatility averaged 31.2%, placing in the 14.6% IV rank vs the trailing year. The 30-day expected move averaged 9.1%. IV traded above realized volatility by 5.9% (HV 20d: 25.4%). Max pain ranged from $17.50 to $20.00. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 19 of 20 days. Put/call ratio averaged 0.31.

Notable Days

  • 2019-11-25: Highest Volume — 175 contracts
  • 2019-11-11: Largest IV spike — 11.2% change
  • 2019-11-11: Highest IV Rank — 17.1%
  • 2019-11-04: Largest Expected Move — 9.6%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$22.72$22.29$23.34$22.44$23.23
Max Pain$18.25$17.50$20.00$20.00$20.00
ATM IV31.2%29.1%33.0%29.8%31.1%
Expected Move9.1%8.5%9.6%8.5%8.9%
HV 20d25.4%20.0%34.9%34.9%20.1%
HV 60d30.5%29.2%31.9%31.9%29.9%
IV Rank14.6%11.5%17.1%12.5%14.3%
IV Percentile15.1%6.3%23.8%8.3%15.5%
Term Structure0.9%-0.4%2.6%2.3%1.2%
VWIV31.5%23.2%38.9%32.1%23.2%
Skew 25d5.1%-4.0%13.9%11.8%1.1%
Skew 10d2.4%-8.7%19.1%18.9%-8.7%
Call IV 25d28.3%20.4%32.0%25.6%28.4%
Put IV 25d33.5%25.2%38.1%37.4%29.5%
Bid-Ask Spread %56.3722.2589.4789.4742.41
Gamma HHI0.830.720.960.870.81
Net GEX246.6K114.3K713.5K253.2K137.3K
Net DEX-4.3M-6.3M-3.1M-4.4M-4.0M
Net VEX-6.2K-8.2K-4.8K-8.2K-4.9K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.310.002.540.590.50
Total Volume51.811752712
Total OI4,563.33,5515,4285,2923,754

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2019-11-01$22.44$20.0029.8%8.5%34.9%12.5%32.1%11.8%2.3%253.2K-4.4M-8.2K0.5989.47N/AN/A17103,2182,074
2019-11-04$22.30$17.5032.6%9.6%34.9%16.6%36.0%6.6%0.0%258.6K-4.3M-7.7K0.0070.06N/AN/A3403,2172,064
2019-11-05$22.44$17.5031.9%9.6%30.9%15.5%35.1%7.7%-0.4%271.9K-4.4M-7.6K1.2363.93N/AN/A13163,2212,064
2019-11-06$22.38$17.5029.1%9.6%31.1%11.5%33.3%5.9%0.5%299.1K-4.4M-7.4K0.0460.61N/AN/A2313,2232,055
2019-11-07$22.30$17.5030.6%9.2%30.7%13.6%29.7%6.1%1.3%303.1K-4.2M-7.4K0.0075.38N/AN/A103,2252,054
2019-11-08$22.31$17.5029.6%8.8%30.8%12.3%30.9%7.5%0.3%330.0K-4.3M-7.2K0.0273.99N/AN/A11123,2262,055
2019-11-11$22.57$17.5033.0%9.1%29.7%17.1%30.7%6.2%0.1%378.2K-4.7M-6.7K0.0063.97N/AN/A3503,2642,057
2019-11-12$22.65$17.5032.7%9.2%26.2%16.7%32.0%-4.0%0.5%420.8K-4.9M-6.3K0.0082.91N/AN/A6203,2752,057
2019-11-13$22.69$17.5032.0%9.2%24.6%15.7%38.9%7.5%1.2%440.1K-5.1M-6.3K0.0065.87N/AN/A4403,3102,057
2019-11-14$22.70$17.5031.9%9.2%23.5%15.6%29.5%5.7%0.5%713.5K-5.4M-6.0K0.2774.72N/AN/A82223,2882,057
2019-11-15$23.18$17.5030.9%8.8%22.6%14.0%30.7%5.3%0.7%114.3K-6.3M-5.3K0.0264.65N/AN/A9723,3542,074
2019-11-18$23.05$17.5031.2%8.9%22.5%14.5%31.8%4.0%1.0%116.9K-3.6M-5.3K0.1838.81N/AN/A4582,1751,376
2019-11-19$23.11$17.5032.4%9.3%21.7%16.2%0.0%5.2%0.3%117.0K-3.7M-5.3K0.0039.42N/AN/A5102,1981,384
2019-11-20$22.76$17.5032.0%9.2%22.0%15.7%36.8%5.6%1.3%120.7K-3.4M-5.7K0.0038.39N/AN/A1002,2031,384
2019-11-21$22.29$17.5032.1%9.2%20.0%15.8%34.1%13.9%0.3%126.0K-3.1M-5.7K2.5432.04N/AN/A13332,2091,384
2019-11-22$22.54$20.0031.0%8.9%20.1%14.3%26.2%5.0%0.8%129.7K-3.2M-5.6K0.2748.17N/AN/A1542,2051,415
2019-11-25$23.11$20.0030.9%8.9%20.5%14.1%29.6%0.4%1.8%130.6K-3.7M-4.8K0.2439.79N/AN/A141342,2051,419
2019-11-26$22.99$20.0030.0%8.6%20.0%12.8%29.4%-0.4%1.7%138.8K-3.8M-5.2K0.1222.25N/AN/A5162,3131,408
2019-11-27$23.34$20.0030.0%8.6%20.2%12.7%29.2%1.5%2.6%132.5K-4.1M-5.1K0.2140.60N/AN/A3472,3311,414
2019-11-29$23.23$20.0031.1%8.9%20.1%14.3%23.2%1.1%1.2%137.3K-4.0M-4.9K0.5042.41N/AN/A842,3341,420