FORM Options History — April 2021

In April 2021, FORM traded between $39.00 and $51.01. ATM implied volatility averaged 47.7%, placing in the 26.4% IV rank vs the trailing year. The 30-day expected move averaged 13.6%. IV traded below realized volatility by 9.3% (HV 20d: 57.0%). Max pain ranged from $40.00 to $50.00. Net GEX was positive for 20 of 21 trading days. Term structure was in contango for 7 of 21 days. Put/call ratio averaged 0.38.

Notable Days

  • 2021-04-01: Highest Volume — 684 contracts
  • 2021-04-12: Largest IV spike — 31.4% change
  • 2021-04-13: Highest IV Rank — 42.3%
  • 2021-04-05: Largest Expected Move — 16.3%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$48.27$39.00$51.01$49.42$39.00
Max Pain$48.33$40.00$50.00$40.00$40.00
ATM IV47.7%40.2%60.6%40.7%44.8%
Expected Move13.6%11.5%16.3%11.7%12.8%
HV 20d57.0%45.7%86.8%62.9%80.3%
HV 60d61.5%56.6%71.0%63.2%70.5%
IV Rank26.4%17.3%42.3%17.9%22.9%
IV Percentile51.7%19.0%89.7%21.8%40.9%
Term Structure-1.5%-10.1%11.8%9.1%-3.9%
VWIV48.6%42.8%52.9%42.8%46.6%
Skew 25d2.1%-18.4%12.0%-2.0%-3.5%
Skew 10d3.8%-5.1%27.3%-4.0%-2.3%
Call IV 25d47.5%42.9%52.8%44.0%49.2%
Put IV 25d49.5%27.6%57.4%42.0%45.7%
Bid-Ask Spread %71.3553.3593.4493.4473.25
Gamma HHI0.290.180.650.360.18
Net GEX177.3K-433432.6K337.8K33.7K
Net DEX-6.6M-13.2M886.6K-12.4M309.2K
Net VEX-21.5K-25.1K-11.2K-23.7K-13.4K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.380.001.430.080.15
Total Volume238.1432684684588
Total OI4,301.192,7685,7575,4713,372

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2021-04-01$49.42$40.0040.7%11.7%62.9%17.9%42.8%-2.0%9.1%337.8K-12.4M-23.7K0.0893.44N/AN/A631534,1931,278
2021-04-05$51.01$45.0050.6%16.3%62.8%30.1%52.9%0.1%-8.6%274.7K-13.2M-24.5K0.2569.82N/AN/A233594,1411,320
2021-04-06$50.58$45.0049.1%14.6%60.9%28.3%51.4%-0.1%0.2%331.4K-12.2M-23.4K0.3659.26N/AN/A187683,9961,371
2021-04-07$49.84$45.0049.8%14.2%57.6%29.1%49.5%3.9%-5.1%265.3K-11.0M-25.1K1.0364.67N/AN/A1391434,0621,466
2021-04-08$50.57$50.0047.4%14.0%57.1%26.1%47.9%1.8%-8.3%264.2K-12.0M-24.8K0.0953.35N/AN/A139134,1181,495
2021-04-09$50.46$50.0043.3%13.9%55.7%21.1%48.5%-0.1%-2.8%265.1K-11.8M-24.6K0.0455.24N/AN/A19274,0991,498
2021-04-12$50.21$50.0056.9%13.7%55.7%37.7%48.4%0.6%-2.9%268.5K-11.7M-24.3K0.0157.55N/AN/A7114,2021,498
2021-04-13$49.25$50.0060.6%14.4%56.4%42.3%50.0%2.0%-6.1%284.2K-10.5M-23.8K0.9362.91N/AN/A3463234,1761,499
2021-04-14$49.09$50.0049.8%14.3%55.1%29.0%52.3%2.5%-6.2%251.9K-10.3M-23.0K0.0064.93N/AN/A20404,2471,510
2021-04-15$49.38$50.0050.7%14.5%55.0%30.2%49.0%9.9%-10.1%432.6K-9.9M-23.2K0.0070.07N/AN/A56904,0941,510
2021-04-16$49.36$50.0047.9%13.7%50.7%26.7%49.3%6.1%-3.5%85.7K-8.0M-21.6K0.3166.07N/AN/A103323,8931,510
2021-04-19$47.73$50.0052.5%15.1%52.5%32.4%51.6%8.8%-6.7%72.2K-2.1M-21.3K0.7369.13N/AN/A1182,031737
2021-04-20$46.62$50.0050.3%14.4%53.4%29.7%50.9%1.7%2.0%64.1K-1.6M-19.6K1.3971.32N/AN/A44612,029744
2021-04-21$48.37$50.0044.4%12.7%51.1%22.5%48.9%12.0%11.8%74.4K-2.0M-20.7K0.0482.28N/AN/A2712,051799
2021-04-22$47.95$50.0041.8%12.0%51.2%19.3%46.8%8.3%3.7%70.7K-1.9M-20.6K0.0081.81N/AN/A202,069798
2021-04-23$49.12$50.0040.2%11.5%51.5%17.3%44.4%4.1%5.8%86.7K-2.5M-21.4K0.3075.93N/AN/A2372,069798
2021-04-26$49.82$50.0045.1%12.9%48.7%23.3%48.0%4.0%-2.8%95.0K-2.6M-21.0K0.5978.11N/AN/A17102,067798
2021-04-27$48.57$50.0041.4%11.9%45.7%18.8%46.7%5.5%-0.7%83.8K-2.4M-20.7K0.0487.24N/AN/A10242,073806
2021-04-28$48.26$50.0046.1%13.2%45.9%24.5%44.1%-18.4%6.1%82.1K-2.1M-20.1K1.4380.79N/AN/A14202,131810
2021-04-29$39.05$50.0047.5%13.6%86.8%26.3%50.0%-3.4%-2.0%-433886.6K-11.2K0.2981.22N/AN/A4261232,147820
2021-04-30$39.00$40.0044.8%12.8%80.3%22.9%46.6%-3.5%-3.9%33.7K309.2K-13.4K0.1573.25N/AN/A513752,504868