FORM Options History — July 2020

In July 2020, FORM traded between $28.92 and $32.18. ATM implied volatility averaged 59.3%, placing in the 45.7% IV rank vs the trailing year. The 30-day expected move averaged 15.9%. IV traded above realized volatility by 8.9% (HV 20d: 50.4%). Max pain ranged from $22.50 to $30.00. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 11 of 22 days. Put/call ratio averaged 1.52.

Notable Days

  • 2020-07-31: Highest Volume — 819 contracts
  • 2020-07-13: Largest IV spike — 81.0% change
  • 2020-07-13: Highest IV Rank — 98.1%
  • 2020-07-15: Largest Expected Move — 21.4%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$30.97$28.92$32.18$29.39$28.92
Max Pain$27.73$22.50$30.00$22.50$30.00
ATM IV59.3%32.1%106.0%58.6%57.2%
Expected Move15.9%9.2%21.4%16.8%16.4%
HV 20d50.4%39.9%67.4%62.0%40.1%
HV 60d53.8%50.2%56.8%54.8%52.3%
IV Rank45.7%15.3%98.1%44.9%43.4%
IV Percentile73.6%24.2%99.6%81.3%75.0%
Term Structure2.5%-37.8%27.5%-5.8%8.7%
VWIV52.4%31.0%70.3%49.2%55.4%
Skew 25d8.1%-11.1%62.5%22.9%-11.1%
Skew 10d13.2%-24.5%80.1%28.1%-24.5%
Call IV 25d55.7%37.1%72.0%44.9%51.8%
Put IV 25d63.7%40.7%99.6%67.8%40.7%
Bid-Ask Spread %97.8670.09119.22101.02104.63
Gamma HHI0.530.360.740.740.36
Net GEX107.1K36.0K218.5K164.3K40.9K
Net DEX-3.6M-6.1M-1.1M-3.3M-1.1M
Net VEX-9.9K-12.4K-8.4K-8.4K-11.1K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.520.0029.150.060.01
Total Volume267.54536819138819
Total OI2,930.3181,9653,6252,8743,625

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2020-07-01$29.39$22.5058.6%16.8%62.0%44.9%49.2%22.9%-5.8%164.3K-3.3M-8.4K0.06101.02N/AN/A13082,606268
2020-07-02$31.78$22.5048.0%13.8%67.1%33.2%34.1%22.6%-0.1%161.3K-5.2M-8.9K0.0183.74N/AN/A44562,606264
2020-07-06$31.78$25.0050.8%13.6%66.7%36.2%49.3%9.4%6.1%174.1K-5.5M-10.4K0.22111.81N/AN/A306672,817267
2020-07-07$31.11$25.0048.9%18.3%67.4%34.2%55.9%-1.5%-0.4%207.8K-5.0M-9.7K0.00100.25N/AN/A23802,899266
2020-07-08$31.64$25.0084.0%12.8%66.8%73.5%37.1%8.1%17.8%172.6K-5.2M-10.1K0.0099.13N/AN/A7002,916266
2020-07-09$31.98$25.0054.5%15.8%66.3%40.4%54.3%9.7%12.1%200.4K-5.7M-9.4K0.05109.41N/AN/A10052,937266
2020-07-10$31.80$25.0058.5%18.1%54.9%44.9%60.5%8.5%21.5%218.5K-5.6M-9.9K0.0098.05N/AN/A6102,892271
2020-07-13$31.42$25.00106.0%18.5%55.1%98.1%63.2%4.8%-7.4%166.5K-5.1M-9.4K0.4187.56N/AN/A76312,936271
2020-07-14$31.18$25.0075.7%16.8%52.2%64.2%57.9%11.0%-7.4%205.8K-5.0M-9.1K0.3270.09N/AN/A126402,959298
2020-07-15$30.93$30.0074.6%21.4%42.4%62.9%70.3%0.8%-5.3%49.0K-6.1M-8.6K0.8787.66N/AN/A2301993,064317
2020-07-16$30.55$30.0061.6%17.7%40.2%48.4%54.9%11.5%-8.0%47.2K-5.8M-8.5K0.0394.92N/AN/A11543,117444
2020-07-17$30.94$30.0052.4%15.0%39.9%38.0%52.5%-9.8%1.2%53.6K-6.0M-9.3K0.6885.50N/AN/A1571063,167446
2020-07-20$32.18$30.0032.1%9.2%41.7%15.3%31.0%0.9%27.5%65.4K-2.2M-9.4K0.04102.42N/AN/A16761,554411
2020-07-21$31.69$30.0050.3%14.4%42.3%35.6%53.1%7.4%5.8%63.5K-2.0M-9.7K0.06106.40N/AN/A190121,682411
2020-07-22$31.38$30.0059.6%17.1%42.5%46.1%57.7%15.3%-0.8%63.8K-2.1M-10.3K0.03119.22N/AN/A3511,771423
2020-07-23$31.36$30.0074.0%21.2%42.0%62.2%45.9%62.5%-37.8%73.1K-2.2M-10.5K1.12113.32N/AN/A1121251,798424
2020-07-24$29.89$30.0036.7%10.5%45.6%20.5%46.1%4.7%0.7%49.0K-1.4M-9.1K29.15116.76N/AN/A133791,710549
2020-07-27$30.57$30.0050.4%14.5%43.1%35.8%49.0%-4.8%23.6%36.0K-1.5M-10.8K0.0496.11N/AN/A11651,721926
2020-07-28$29.70$30.0058.0%16.6%44.6%44.3%53.7%9.0%-1.2%37.5K-1.2M-10.9K0.3084.40N/AN/A243731,833931
2020-07-29$30.22$30.0055.8%16.0%42.1%41.8%59.4%-8.6%-3.3%39.3K-1.3M-10.9K0.02105.98N/AN/A637111,8501,004
2020-07-30$30.97$30.0056.1%16.1%42.9%42.2%62.0%4.0%6.6%67.3K-1.8M-12.4K0.0374.48N/AN/A411112,2741,010
2020-07-31$28.92$30.0057.2%16.4%40.1%43.4%55.4%-11.1%8.7%40.9K-1.1M-11.1K0.01104.63N/AN/A808112,6121,013