FORM Options History — December 2021

In December 2021, FORM traded between $40.55 and $45.92. ATM implied volatility averaged 45.0%, placing in the 45.3% IV rank vs the trailing year. The 30-day expected move averaged 11.7%. IV traded above realized volatility by 5.5% (HV 20d: 39.4%). Max pain ranged from $35.00 to $40.00. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 16 of 22 days. Put/call ratio averaged 1.03.

Notable Days

  • 2021-12-21: Highest Volume — 211 contracts
  • 2021-12-09: Largest IV spike — 39.9% change
  • 2021-12-13: Highest IV Rank — 100.0%
  • 2021-12-02: Largest Expected Move — 16.4%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$43.28$40.55$45.92$42.84$45.90
Max Pain$35.68$35.00$40.00$40.00$35.00
ATM IV45.0%29.6%66.3%55.3%36.6%
Expected Move11.7%8.5%16.4%15.9%10.5%
HV 20d39.4%27.5%47.2%29.8%42.9%
HV 60d36.1%32.9%38.2%33.0%35.5%
IV Rank45.3%5.4%100.0%72.6%23.6%
IV Percentile50.7%1.6%100.0%94.8%16.7%
Term Structure3.8%-12.0%18.7%-12.0%3.9%
VWIV43.3%31.9%63.8%54.1%39.3%
Skew 25d5.7%-5.4%33.7%16.1%1.9%
Skew 10d15.7%-1.3%51.8%28.0%-1.3%
Call IV 25d41.7%34.7%61.4%43.6%38.8%
Put IV 25d47.4%32.7%77.5%59.7%40.7%
Bid-Ask Spread %97.7484.32113.97108.6689.90
Gamma HHI0.340.310.430.320.35
Net GEX51.1K32.7K64.0K46.3K64.0K
Net DEX-1.7M-2.1M-1.0M-1.8M-2.1M
Net VEX-3.8K-4.7K-3.1K-4.5K-3.8K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.030.731.350.791.21
Total Volume170.136145211168170
Total OI1,055.4099581,0971,0651,097

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2021-12-01$42.84$40.0055.3%15.9%29.8%72.6%54.1%16.1%-12.0%46.3K-1.8M-4.5K0.79108.66N/AN/A9474715350
2021-12-02$41.85$40.0057.1%16.4%28.0%77.2%63.8%33.7%18.7%43.6K-1.5M-4.6K0.80108.70N/AN/A9274716350
2021-12-03$40.55$40.0049.3%14.1%27.5%56.9%57.7%-1.3%5.2%39.8K-1.3M-4.7K0.80113.97N/AN/A9274713350
2021-12-06$42.08$35.0056.6%15.0%31.1%76.0%50.9%22.7%-6.3%48.0K-1.5M-4.3K1.0492.10N/AN/A7174714351
2021-12-07$44.34$35.0044.2%11.8%36.4%43.5%44.0%8.5%2.1%55.3K-1.9M-4.0K1.0793.54N/AN/A7277714351
2021-12-08$44.43$35.0042.1%9.5%36.4%38.0%37.8%-0.8%8.8%59.4K-2.0M-3.6K0.95102.44N/AN/A8177715349
2021-12-09$43.03$35.0058.9%9.5%36.7%81.8%42.1%6.4%-0.4%51.5K-1.7M-3.8K0.73106.11N/AN/A10577703349
2021-12-10$43.24$35.0047.5%8.7%36.7%52.0%31.9%-1.1%2.7%62.0K-1.7M-3.1K0.81106.76N/AN/A9577705349
2021-12-13$41.60$35.0066.3%14.2%39.1%100.0%47.6%12.4%-3.6%50.0K-1.4M-3.8K0.9397.01N/AN/A9588706349
2021-12-14$41.43$35.0064.0%14.2%39.1%94.2%43.4%5.2%-7.6%48.7K-1.4M-3.8K1.14103.16N/AN/A7383706356
2021-12-15$42.73$35.0040.8%11.7%40.3%34.3%34.0%-4.7%3.5%57.8K-1.6M-3.2K0.89108.92N/AN/A9383706354
2021-12-16$41.18$35.0030.4%8.7%42.3%7.4%34.1%-5.4%12.0%52.0K-1.3M-3.2K0.98104.10N/AN/A8583688354
2021-12-17$41.52$35.0034.6%9.9%42.4%18.3%40.3%5.5%10.4%34.9K-1.5M-3.3K1.2998.89N/AN/A80103689354
2021-12-20$40.86$35.0041.1%11.8%42.7%34.9%50.5%-3.5%4.7%32.7K-1.0M-3.4K1.2391.32N/AN/A7592601357
2021-12-21$42.77$35.0029.6%8.5%46.0%5.4%37.5%6.6%8.8%39.5K-1.3M-3.4K0.7791.88N/AN/A11992604364
2021-12-22$44.05$35.0039.3%11.3%47.2%30.5%39.5%6.1%2.8%48.0K-1.6M-3.6K0.8891.93N/AN/A10592657364
2021-12-23$44.58$35.0039.8%11.4%47.1%31.7%39.3%5.0%4.8%51.9K-1.8M-4.2K1.2384.32N/AN/A7592697364
2021-12-27$45.85$35.0034.8%10.0%44.2%18.9%38.1%-1.1%14.5%63.2K-2.1M-3.9K1.3586.00N/AN/A6892719364
2021-12-28$45.61$35.0036.9%10.6%44.0%24.1%39.0%1.2%9.0%60.4K-2.0M-4.0K1.3591.68N/AN/A6993724364
2021-12-29$45.92$35.0040.5%11.6%44.0%33.5%42.1%8.3%2.1%58.6K-2.1M-4.1K1.3391.48N/AN/A7093728365
2021-12-30$45.88$35.0044.1%12.6%44.0%42.8%44.7%3.6%-1.0%56.9K-2.1M-4.1K1.1587.35N/AN/A8193729365
2021-12-31$45.90$35.0036.6%10.5%42.9%23.6%39.3%1.9%3.9%64.0K-2.1M-3.8K1.2189.90N/AN/A7793732365