FORM Options History — November 2021

In November 2021, FORM traded between $41.40 and $44.48. ATM implied volatility averaged 39.6%, placing in the 31.5% IV rank vs the trailing year. The 30-day expected move averaged 10.9%. IV traded above realized volatility by 6.3% (HV 20d: 33.3%). 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 7 of 21 days. Put/call ratio averaged 0.63.

Notable Days

  • 2021-11-02: Highest Volume — 429 contracts
  • 2021-11-26: Largest IV spike — 63.6% change
  • 2021-11-30: Highest IV Rank — 72.9%
  • 2021-11-30: Largest Expected Move — 15.9%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$42.87$41.40$44.48$41.45$42.39
Max Pain$38.81$35.00$40.00$35.00$40.00
ATM IV39.6%28.5%55.5%39.6%55.5%
Expected Move10.9%7.7%15.9%11.4%15.9%
HV 20d33.3%29.6%34.7%33.0%29.6%
HV 60d33.4%31.4%35.5%34.9%33.1%
IV Rank31.5%2.5%72.9%31.7%72.9%
IV Percentile32.6%0.8%95.6%30.6%95.6%
Term Structure-0.7%-9.7%9.3%-3.0%-3.2%
VWIV39.7%25.8%50.8%39.1%50.8%
Skew 25d8.1%-2.1%19.6%14.4%17.8%
Skew 10d18.8%0.5%77.3%37.0%27.6%
Call IV 25d36.5%29.6%45.6%33.9%38.4%
Put IV 25d44.5%35.8%56.2%48.3%56.2%
Bid-Ask Spread %86.9768.06112.2486.4499.97
Gamma HHI0.390.310.550.480.31
Net GEX75.6K40.3K103.7K86.6K42.9K
Net DEX-3.3M-4.8M-1.4M-3.2M-1.5M
Net VEX-5.9K-8.0K-4.3K-8.0K-4.8K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.630.440.870.470.71
Total Volume331.714223429402245
Total OI2,179.0959992,6892,5751,071

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2021-11-01$41.45$35.0039.6%11.4%33.0%31.7%39.1%14.4%-3.0%86.6K-3.2M-8.0K0.4786.44N/AN/A2741281,965610
2021-11-02$41.53$35.0040.1%11.5%33.0%32.9%34.5%19.6%7.2%100.1K-3.3M-7.4K0.4490.63N/AN/A2981312,019610
2021-11-03$43.06$35.0038.3%11.0%33.7%28.2%37.5%10.0%-8.7%97.8K-4.0M-7.8K0.6285.17N/AN/A2071292,044612
2021-11-04$44.35$35.0034.7%7.7%34.5%18.9%25.8%12.5%7.7%95.0K-4.8M-6.7K0.4975.40N/AN/A2631292,058611
2021-11-05$44.48$35.0035.9%9.8%33.1%21.9%38.6%2.8%9.3%88.2K-4.8M-6.9K0.6068.06N/AN/A2171302,062611
2021-11-08$43.90$40.0046.5%11.4%34.2%49.5%40.3%13.0%-9.7%100.4K-4.5M-6.5K0.6281.35N/AN/A2151332,058611
2021-11-09$43.74$40.0054.8%11.9%33.6%71.2%42.7%-2.1%-4.8%97.9K-4.4M-6.9K0.5078.70N/AN/A2681332,058611
2021-11-10$42.45$40.0042.1%12.1%34.7%38.0%41.6%5.5%-1.8%103.7K-3.9M-6.8K0.4677.02N/AN/A2891332,078611
2021-11-11$42.39$40.0037.0%10.6%34.0%24.8%36.4%2.8%6.2%101.2K-3.6M-6.6K0.6274.50N/AN/A2161332,019611
2021-11-12$42.81$40.0036.4%10.4%34.0%23.3%38.7%4.4%-1.7%96.2K-3.9M-6.2K0.5471.95N/AN/A2471332,022611
2021-11-15$42.62$40.0033.2%9.5%34.1%14.9%36.4%1.6%4.0%100.4K-3.7M-6.1K0.6379.73N/AN/A2121332,022611
2021-11-16$43.31$40.0032.7%9.4%34.0%13.7%31.2%4.1%3.8%62.2K-4.1M-5.1K0.6378.56N/AN/A2121332,022611
2021-11-17$43.13$40.0040.5%11.6%33.7%33.8%39.4%-0.9%-1.6%70.7K-3.9M-5.1K0.7975.17N/AN/A1791422,002611
2021-11-18$42.90$40.0028.5%8.2%34.1%2.5%41.1%12.3%-3.3%73.2K-3.9M-5.0K0.7996.04N/AN/A1821442,004591
2021-11-19$43.03$40.0035.5%10.2%33.5%21.0%48.2%15.2%-4.9%44.9K-3.8M-4.7K0.7196.33N/AN/A2031441,987592
2021-11-22$42.90$40.0034.1%9.8%32.9%17.2%37.1%-0.8%-0.6%46.4K-1.6M-4.6K0.8798.72N/AN/A119104680348
2021-11-23$42.80$40.0034.9%10.0%32.0%19.3%41.8%5.3%-1.3%49.2K-1.6M-4.6K0.7498.29N/AN/A140104689348
2021-11-24$43.43$40.0029.1%8.3%31.6%4.3%36.4%10.7%9.0%45.3K-1.6M-4.3K0.68104.80N/AN/A154104651348
2021-11-26$41.40$40.0047.6%13.7%32.8%52.5%47.4%5.5%-8.8%40.3K-1.4M-4.5K0.62112.24N/AN/A162101668348
2021-11-29$42.21$40.0054.0%15.5%33.0%69.2%48.7%15.6%-8.3%45.0K-1.5M-4.9K0.7297.31N/AN/A141102718347
2021-11-30$42.39$40.0055.5%15.9%29.6%72.9%50.8%17.8%-3.2%42.9K-1.5M-4.8K0.7199.97N/AN/A143102721350