FORM Options History — December 2019

In December 2019, FORM traded between $22.45 and $26.20. ATM implied volatility averaged 30.5%, placing in the 13.5% IV rank vs the trailing year. The 30-day expected move averaged 8.8%. IV traded above realized volatility by 5.3% (HV 20d: 25.2%). Max pain ranged from $17.50 to $20.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 19 of 21 days. Put/call ratio averaged 1.24.

Notable Days

  • 2019-12-12: Highest Volume — 388 contracts
  • 2019-12-09: Largest IV spike — 10.5% change
  • 2019-12-03: Highest IV Rank — 16.9%
  • 2019-12-03: Largest Expected Move — 9.4%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$24.73$22.45$26.20$22.85$26.15
Max Pain$17.86$17.50$20.00$20.00$17.50
ATM IV30.5%28.3%32.9%32.9%30.6%
Expected Move8.8%8.1%9.4%9.4%8.8%
HV 20d25.2%18.8%29.8%18.8%24.5%
HV 60d29.2%26.8%30.6%30.1%26.8%
IV Rank13.5%10.3%16.9%16.9%13.6%
IV Percentile14.9%6.0%29.4%28.6%16.3%
Term Structure8.9%-0.3%14.6%-0.3%14.6%
VWIV30.2%27.2%33.2%32.9%28.1%
Skew 25d3.8%-1.7%7.6%-1.7%5.3%
Skew 10d3.0%-4.4%9.3%-4.1%3.6%
Call IV 25d27.2%21.3%32.8%31.6%25.2%
Put IV 25d30.9%26.4%34.5%29.9%30.5%
Bid-Ask Spread %59.8732.3592.9833.0148.33
Gamma HHI0.630.390.860.810.43
Net GEX84.1K28.1K170.8K150.3K39.6K
Net DEX-4.3M-6.1M-3.1M-3.7M-3.3M
Net VEX-3.6K-5.0K-2.2K-5.0K-4.3K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.240.0014.670.010.05
Total Volume90.19038811920
Total OI3,687.0483,0314,1813,7563,230

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2019-12-02$22.85$20.0032.9%9.4%18.8%16.9%0.0%-1.7%-0.3%150.3K-3.7M-5.0K0.0133.01N/AN/A11812,3361,420
2019-12-03$22.45$20.0032.9%9.4%19.8%16.9%32.9%2.5%0.1%155.6K-3.2M-5.0K0.0032.35N/AN/A4002,2851,421
2019-12-04$22.88$20.0031.8%9.1%20.8%15.4%31.8%6.8%-0.1%158.5K-3.7M-4.5K14.6732.67N/AN/A6882,2901,421
2019-12-05$22.80$17.5030.7%8.9%20.8%13.7%0.0%5.0%9.4%156.8K-3.5M-4.5K0.0078.09N/AN/A002,2911,509
2019-12-06$23.23$17.5028.7%8.7%21.7%10.9%0.0%4.9%10.0%150.3K-4.0M-4.1K0.0055.08N/AN/A2202,2911,509
2019-12-09$22.89$17.5031.7%8.8%22.5%15.2%0.0%4.9%8.8%168.8K-3.7M-4.0K0.0055.93N/AN/A1202,2831,509
2019-12-10$23.10$17.5029.3%8.7%22.3%11.8%29.3%5.4%9.3%170.8K-4.0M-3.7K5.0064.18N/AN/A4202,2811,509
2019-12-11$23.74$17.5030.5%8.7%24.2%13.5%29.0%4.2%9.5%114.3K-4.5M-3.1K2.1584.30N/AN/A13282,2791,529
2019-12-12$24.99$17.5031.1%8.9%29.8%14.3%31.8%6.1%7.2%42.6K-5.2M-2.3K0.0783.89N/AN/A361272,2841,532
2019-12-13$25.14$17.5029.6%8.5%29.7%12.2%29.5%5.8%8.3%60.0K-5.6M-2.4K0.0271.63N/AN/A8322,4521,532
2019-12-16$25.30$17.5030.4%8.7%29.2%13.3%32.3%1.7%8.2%62.9K-5.7M-2.4K0.0058.12N/AN/A5502,5121,532
2019-12-17$25.77$17.5029.6%8.5%29.3%12.2%30.1%2.2%8.8%43.9K-6.0M-2.2K0.0060.05N/AN/A6302,5011,532
2019-12-18$26.00$17.5030.3%8.7%29.3%13.3%30.4%-1.2%8.0%33.5K-6.0M-2.2K0.0159.97N/AN/A13912,4931,532
2019-12-19$25.96$17.5028.3%8.1%28.4%10.3%27.2%5.8%10.9%39.1K-6.1M-2.5K0.1985.56N/AN/A108212,5611,533
2019-12-20$25.80$17.5029.0%8.3%27.0%11.3%29.0%-0.5%9.5%40.7K-6.1M-3.1K1.2092.98N/AN/A851022,6331,548
2019-12-23$25.99$17.5028.9%8.3%26.9%11.2%28.9%1.1%13.8%28.1K-3.1M-3.2K1.1657.59N/AN/A1561811,5011,530
2019-12-24$25.97$17.5029.5%8.5%26.2%12.1%29.2%0.4%13.0%37.5K-3.2M-4.3K0.0258.39N/AN/A8221,6461,552
2019-12-26$26.13$17.5031.2%8.9%25.9%14.5%0.0%7.6%12.5%37.2K-3.3M-4.3K0.0049.02N/AN/A1801,6511,552
2019-12-27$25.98$17.5031.2%8.9%26.0%14.5%30.1%5.9%12.9%38.8K-3.3M-4.3K0.1747.11N/AN/A1831,6651,552
2019-12-30$26.20$17.5032.1%9.2%25.7%15.8%33.2%6.8%12.1%37.5K-3.3M-4.3K0.0749.03N/AN/A1411,6561,553
2019-12-31$26.15$17.5030.6%8.8%24.5%13.6%28.1%5.3%14.6%39.6K-3.3M-4.3K0.0548.33N/AN/A1911,6761,554