FORM Options History — September 2021

In September 2021, FORM traded between $37.51 and $40.45. ATM implied volatility averaged 36.6%, placing in the 26.2% IV rank vs the trailing year. The 30-day expected move averaged 10.6%. IV traded above realized volatility by 5.7% (HV 20d: 30.9%). Max pain ranged from $35.00 to $40.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 17 of 21 days. Put/call ratio averaged 0.38.

Notable Days

  • 2021-09-14: Highest Volume — 61 contracts
  • 2021-09-07: Largest IV spike — 51.8% change
  • 2021-09-27: Highest IV Rank — 50.6%
  • 2021-09-27: Largest Expected Move — 13.2%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$39.13$37.51$40.45$39.09$37.51
Max Pain$35.24$35.00$40.00$40.00$35.00
ATM IV36.6%28.4%46.2%34.7%31.8%
Expected Move10.6%8.1%13.2%9.9%9.1%
HV 20d30.9%25.6%36.9%35.5%30.7%
HV 60d34.4%33.3%35.6%34.6%35.4%
IV Rank26.2%5.8%50.6%17.2%14.3%
IV Percentile21.1%1.6%66.7%9.1%4.4%
Term Structure5.2%-5.5%16.3%2.1%9.6%
VWIV36.1%32.3%40.9%34.5%37.8%
Skew 25d2.9%-12.5%9.2%8.9%-3.8%
Skew 10d12.4%-11.8%51.5%17.0%-4.1%
Call IV 25d33.3%28.0%41.3%29.4%30.6%
Put IV 25d36.2%25.0%41.8%38.2%26.8%
Bid-Ask Spread %96.2790.46107.2793.9899.25
Gamma HHI0.300.230.370.290.33
Net GEX78.5K54.6K95.4K73.0K76.7K
Net DEX-2.6M-3.2M-2.1M-2.5M-2.1M
Net VEX-8.7K-10.7K-6.2K-10.7K-6.2K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.380.002.000.210.25
Total Volume24.476061290
Total OI2,765.7142,6962,8382,7262,778

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2021-09-01$39.09$40.0034.7%9.9%35.5%17.2%34.5%8.9%2.1%73.0K-2.5M-10.7K0.2193.98N/AN/A2452,060666
2021-09-02$39.55$35.0032.3%10.5%35.7%12.3%0.0%2.6%7.0%83.2K-2.7M-10.2K0.0090.46N/AN/A3502,073666
2021-09-03$39.86$35.0030.4%10.9%35.6%10.8%38.3%5.0%-0.1%80.6K-2.8M-10.0K0.1292.50N/AN/A4252,079667
2021-09-07$40.45$35.0046.1%11.2%35.4%50.3%34.1%4.5%4.7%85.1K-3.2M-10.1K0.0694.31N/AN/A1612,105667
2021-09-08$39.38$35.0039.4%11.3%36.9%33.6%32.3%2.5%-5.5%83.3K-2.7M-9.6K0.4893.27N/AN/A21102,124672
2021-09-09$39.92$35.0039.8%11.4%35.7%34.5%40.1%7.2%2.3%86.1K-3.0M-9.9K0.1492.49N/AN/A712,136672
2021-09-10$39.63$35.0041.3%11.8%29.0%38.2%0.0%2.1%-3.4%88.7K-2.7M-9.8K0.0095.63N/AN/A012,147682
2021-09-13$39.28$35.0041.4%11.9%29.0%38.6%0.0%9.2%5.9%85.0K-2.8M-10.1K0.0097.11N/AN/A2002,146682
2021-09-14$39.06$35.0036.4%10.4%29.0%26.0%34.0%4.7%5.6%95.4K-2.6M-9.0K0.3097.48N/AN/A47142,146682
2021-09-15$38.99$35.0034.4%9.9%26.2%21.0%40.9%3.7%7.8%89.7K-2.5M-8.7K0.3394.53N/AN/A622,156682
2021-09-16$39.17$35.0032.0%9.2%26.3%14.8%35.1%8.0%9.1%86.6K-2.6M-8.5K0.6897.19N/AN/A34232,136694
2021-09-17$38.04$35.0041.9%12.0%29.1%39.8%33.3%2.3%10.4%77.2K-2.2M-8.9K2.00107.27N/AN/A122,135695
2021-09-20$37.53$35.0029.9%8.6%29.7%9.6%37.6%6.9%10.4%70.9K-2.1M-8.3K1.1597.29N/AN/A13152,037661
2021-09-21$38.03$35.0028.4%8.1%27.5%5.8%34.7%6.5%16.3%65.8K-2.3M-8.3K0.0796.45N/AN/A2722,038658
2021-09-22$39.42$35.0035.8%10.3%30.0%24.5%36.7%4.9%6.6%72.3K-2.7M-8.0K1.3895.22N/AN/A16222,049655
2021-09-23$40.42$35.0036.6%10.5%30.6%26.4%35.3%6.7%2.6%67.2K-3.2M-7.7K0.0094.52N/AN/A3302,053657
2021-09-24$40.43$35.0037.3%10.7%30.6%28.2%37.1%-2.1%5.0%54.6K-3.1M-7.1K0.0096.89N/AN/A1902,051657
2021-09-27$40.05$35.0046.2%13.2%25.6%50.6%0.0%-8.1%-3.4%84.0K-2.9M-7.0K0.0098.25N/AN/A302,077657
2021-09-28$38.19$35.0035.5%10.2%30.7%23.7%0.0%2.1%4.9%63.5K-2.4M-6.8K0.00100.92N/AN/A3702,084657
2021-09-29$37.71$35.0037.8%10.8%30.7%29.4%37.8%-12.5%12.2%78.6K-2.2M-7.2K0.2596.75N/AN/A822,084657
2021-09-30$37.51$35.0031.8%9.1%30.7%14.3%0.0%-3.8%9.6%76.7K-2.1M-6.2K0.0099.25N/AN/A002,121657