FORM Options History — May 2021

In May 2021, FORM traded between $33.13 and $39.15. ATM implied volatility averaged 43.8%, placing in the 22.1% IV rank vs the trailing year. The 30-day expected move averaged 12.6%. IV traded below realized volatility by 34.2% (HV 20d: 78.0%). Max pain ranged from $35.00 to $40.00. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 11 of 20 days. Put/call ratio averaged 0.49.

Notable Days

  • 2021-05-06: Highest Volume — 984 contracts
  • 2021-05-17: Largest IV drop — 20.0% change
  • 2021-05-14: Highest IV Rank — 35.0%
  • 2021-05-14: Largest Expected Move — 15.5%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$35.53$33.13$39.15$39.15$35.29
Max Pain$37.50$35.00$40.00$40.00$35.00
ATM IV43.8%35.1%54.1%37.6%39.6%
Expected Move12.6%10.8%15.5%10.8%11.4%
HV 20d78.0%41.8%84.4%78.9%42.4%
HV 60d68.6%64.2%70.4%69.6%64.2%
IV Rank22.1%11.1%35.0%14.2%16.9%
IV Percentile39.0%7.1%82.9%13.5%18.3%
Term Structure-1.1%-12.1%6.4%6.4%0.7%
VWIV44.3%37.0%50.9%41.7%39.9%
Skew 25d1.3%-12.7%9.9%1.7%3.5%
Skew 10d5.0%-10.1%27.0%2.0%6.1%
Call IV 25d44.6%38.8%50.3%43.3%39.2%
Put IV 25d46.0%28.0%53.2%45.1%42.8%
Bid-Ask Spread %84.1472.8894.6973.4084.23
Gamma HHI0.350.190.540.220.53
Net GEX42.3K12.8K58.2K42.3K58.2K
Net DEX284.2K-316.5K1.3M179.6K-293.6K
Net VEX-15.1K-17.1K-12.1K-14.4K-14.9K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.490.002.550.040.35
Total Volume184.72098432546
Total OI4,471.753,7114,9943,7114,536

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2021-05-03$39.15$40.0037.6%10.8%78.9%14.2%41.7%1.7%6.4%42.3K179.6K-14.4K0.0473.40N/AN/A312132,772939
2021-05-04$38.22$40.0038.2%11.0%78.9%14.9%40.2%-3.8%2.7%47.0K155.7K-15.4K0.2682.95N/AN/A129332,898945
2021-05-05$37.90$40.0042.4%12.2%79.0%20.0%47.0%-3.2%-12.1%32.8K494.8K-13.5K0.3888.02N/AN/A78302,856975
2021-05-06$37.95$40.0035.1%11.4%78.5%11.1%39.5%-12.7%2.8%36.4K557.9K-14.0K0.0181.09N/AN/A97862,926999
2021-05-07$38.71$40.0040.3%12.0%79.3%17.4%42.1%-0.7%-5.5%49.1K-39.1K-17.1K0.9173.61N/AN/A33303,2681,004
2021-05-10$36.60$40.0046.1%12.4%80.7%24.6%45.6%2.0%-0.3%35.3K602.2K-15.0K0.8272.88N/AN/A94773,278976
2021-05-11$35.75$40.0052.9%14.0%80.7%32.9%49.1%0.7%-4.7%34.2K491.1K-16.3K0.8075.95N/AN/A45363,2911,022
2021-05-12$33.13$40.0048.1%13.8%83.3%27.5%50.2%1.8%1.1%12.8K1.3M-12.1K0.2183.48N/AN/A5881243,3101,020
2021-05-13$33.40$40.0045.8%13.1%83.4%24.6%49.6%5.1%-4.6%33.9K662.3K-15.2K0.4285.82N/AN/A38163,8201,043
2021-05-14$33.81$40.0054.1%15.5%83.9%35.0%50.9%1.6%-5.7%34.7K724.5K-14.7K0.1490.25N/AN/A69103,8151,054
2021-05-17$33.97$35.0043.3%12.4%84.1%21.5%37.0%5.3%-6.7%43.3K431.3K-16.2K2.5594.69N/AN/A29743,8411,053
2021-05-18$33.97$35.0044.8%12.8%84.3%23.4%46.1%2.7%6.2%35.2K552.4K-15.3K0.7393.00N/AN/A1571153,8501,035
2021-05-19$33.87$35.0051.8%14.9%82.1%32.2%50.7%1.0%0.4%41.2K369.3K-15.4K0.2889.39N/AN/A88253,9581,003
2021-05-20$35.16$35.0050.9%14.6%84.4%31.1%50.3%-0.6%-4.1%51.3K-181.7K-16.3K0.1387.52N/AN/A6384,011966
2021-05-21$34.23$35.0046.1%13.2%83.1%25.0%45.0%1.6%-5.2%44.9K355.1K-14.6K0.3488.56N/AN/A109374,023971
2021-05-24$35.19$35.0040.5%11.6%84.0%18.1%40.4%3.6%0.5%57.7K-212.3K-15.3K1.0984.03N/AN/A43473,557874
2021-05-25$34.75$35.0040.5%11.6%83.9%18.1%41.6%3.6%2.1%51.2K-102.2K-15.5K0.1583.92N/AN/A5383,582913
2021-05-26$34.70$35.0040.0%11.5%84.0%17.4%40.4%9.9%0.9%50.4K-75.1K-14.6K0.0085.90N/AN/A2003,611918
2021-05-27$34.81$35.0038.7%11.1%41.8%15.7%39.1%3.6%2.3%53.4K-316.5K-15.5K0.2284.15N/AN/A2763,625897
2021-05-28$35.29$35.0039.6%11.4%42.4%16.9%39.9%3.5%0.7%58.2K-293.6K-14.9K0.3584.23N/AN/A34123,637899