FORM Options History — October 2020

In October 2020, FORM traded between $25.37 and $29.60. ATM implied volatility averaged 41.1%, placing in the 25.4% IV rank vs the trailing year. The 30-day expected move averaged 13.0%. IV traded above realized volatility by 8.2% (HV 20d: 32.9%). Max pain ranged from $12.50 to $25.00. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 10 of 22 days. Put/call ratio averaged 0.45.

Notable Days

  • 2020-10-09: Highest Volume — 830 contracts
  • 2020-10-08: Largest IV spike — 91.0% change
  • 2020-10-08: Highest IV Rank — 36.9%
  • 2020-10-06: Largest Expected Move — 16.0%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$28.40$25.37$29.60$25.73$28.20
Max Pain$23.75$12.50$25.00$25.00$25.00
ATM IV41.1%26.1%51.4%30.7%34.9%
Expected Move13.0%8.8%16.0%8.8%10.0%
HV 20d32.9%26.6%49.4%49.4%36.1%
HV 60d43.2%39.4%45.8%42.9%39.9%
IV Rank25.4%8.5%36.9%13.7%18.4%
IV Percentile36.9%0.8%58.3%9.9%25.0%
Term Structure1.0%-11.0%26.9%26.9%1.6%
VWIV45.7%26.9%62.0%26.9%38.9%
Skew 25d10.5%-8.1%22.3%4.5%12.6%
Skew 10d16.0%-13.4%35.8%3.0%16.7%
Call IV 25d42.8%30.3%53.4%30.3%43.3%
Put IV 25d53.4%34.8%64.3%34.8%55.9%
Bid-Ask Spread %79.5259.1597.7097.7084.03
Gamma HHI0.630.300.930.380.62
Net GEX215.6K73.1K790.9K83.0K128.1K
Net DEX-3.6M-6.3M-2.0M-2.1M-2.4M
Net VEX-10.8K-12.6K-8.6K-8.6K-10.7K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.450.003.000.030.71
Total Volume197.1361283038312
Total OI4,613.3642,9476,3175,4913,415

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2020-10-01$25.73$25.0030.7%8.8%49.4%13.7%26.9%4.5%26.9%83.0K-2.1M-8.6K0.0397.70N/AN/A372114,4391,052
2020-10-02$25.37$25.0042.5%12.2%43.1%26.9%42.6%8.6%11.4%73.1K-2.0M-10.3K0.1994.33N/AN/A1634,7671,055
2020-10-05$26.00$12.5044.6%15.4%40.0%29.3%46.0%12.5%-2.4%105.3K-2.5M-10.3K0.0970.43N/AN/A143134,7631,057
2020-10-06$26.48$22.5032.9%16.0%29.8%16.2%48.8%8.2%-6.8%136.8K-3.0M-10.9K0.0377.35N/AN/A31394,9031,058
2020-10-07$26.62$22.5026.9%15.5%28.7%9.4%45.9%14.1%-3.4%146.6K-3.1M-10.8K0.3281.61N/AN/A31104,9681,066
2020-10-08$27.50$22.5051.4%14.9%26.6%36.9%47.4%13.6%-2.4%206.3K-4.0M-11.8K0.0476.38N/AN/A7434,9681,072
2020-10-09$29.22$20.0045.1%11.4%31.0%29.9%43.3%8.5%3.5%396.0K-6.1M-12.6K0.0379.20N/AN/A804264,9991,072
2020-10-12$29.11$22.5030.7%13.3%30.7%13.7%48.3%8.9%-1.3%566.8K-6.0M-12.3K0.1878.77N/AN/A76145,2431,074
2020-10-13$29.57$25.0026.1%13.1%30.3%8.5%44.5%19.1%-2.7%790.9K-6.3M-11.6K0.0182.48N/AN/A78065,2431,074
2020-10-14$29.60$25.0048.3%13.9%30.3%33.5%35.4%20.0%-1.7%521.7K-5.9M-11.6K0.0281.22N/AN/A41984,6571,080
2020-10-15$29.53$25.0049.7%14.2%30.7%35.0%42.2%22.3%-11.0%389.9K-5.5M-11.2K0.9577.84N/AN/A1361294,3671,076
2020-10-16$29.29$25.0043.1%12.4%31.3%27.6%47.0%8.1%0.5%109.3K-4.4M-11.0K0.0968.46N/AN/A4444,2171,202
2020-10-19$29.49$25.0046.0%13.2%31.3%30.8%46.0%-8.1%0.8%118.8K-3.1M-11.0K0.1489.44N/AN/A70102,619328
2020-10-20$29.35$25.0039.1%11.2%31.7%23.1%43.6%10.6%7.0%130.8K-3.0M-10.7K0.4579.48N/AN/A22102,647338
2020-10-21$29.43$25.0048.1%13.8%29.4%33.2%48.1%5.7%4.5%116.1K-3.0M-10.9K0.5077.49N/AN/A1052,662343
2020-10-22$29.57$25.0047.9%13.7%29.5%33.0%50.5%7.8%2.3%118.7K-3.1M-10.8K0.0775.39N/AN/A8862,671347
2020-10-23$29.60$25.0047.6%13.7%29.0%32.7%62.0%14.8%-10.3%117.3K-3.0M-10.8K2.1479.64N/AN/A7152,667349
2020-10-26$28.85$25.0043.3%12.4%30.9%27.8%54.7%8.0%-0.9%123.9K-2.7M-9.9K3.0078.46N/AN/A20602,670364
2020-10-27$29.44$25.0045.8%13.1%31.1%30.6%45.8%13.3%-0.4%118.4K-3.0M-10.2K0.0078.52N/AN/A1402,669424
2020-10-28$28.10$25.0043.8%12.6%36.3%28.4%57.3%10.8%-7.5%108.9K-2.3M-9.7K0.8159.15N/AN/A2822272,670426
2020-10-29$28.79$25.0035.7%10.2%35.6%19.3%41.0%6.9%13.9%136.4K-2.6M-10.2K0.0082.04N/AN/A3502,756657
2020-10-30$28.20$25.0034.9%10.0%36.1%18.4%38.9%12.6%1.6%128.1K-2.4M-10.7K0.7184.03N/AN/A752,758657