FORM Options History — January 2022

In January 2022, FORM traded between $39.51 and $46.62. ATM implied volatility averaged 55.1%, placing in the 68.1% IV rank vs the trailing year. The 30-day expected move averaged 16.0%. IV traded above realized volatility by 4.0% (HV 20d: 51.1%). 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 2 of 20 days. Put/call ratio averaged 1.06.

Notable Days

  • 2022-01-21: Highest Volume — 257 contracts
  • 2022-01-20: Largest IV spike — 41.3% change
  • 2022-01-20: Highest IV Rank — 100.0%
  • 2022-01-20: Largest Expected Move — 20.0%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$42.75$39.51$46.62$46.62$42.22
Max Pain$39.25$35.00$40.00$35.00$40.00
ATM IV55.1%43.0%69.7%48.6%62.4%
Expected Move16.0%13.2%20.0%13.9%17.9%
HV 20d51.1%40.8%59.9%40.8%59.9%
HV 60d42.1%35.5%45.1%35.5%45.1%
IV Rank68.1%39.8%100.0%54.4%82.6%
IV Percentile83.0%48.8%100.0%71.8%96.8%
Term Structure-10.1%-33.3%4.3%2.0%-4.1%
VWIV55.0%44.1%65.8%45.0%58.1%
Skew 25d5.8%-17.4%23.1%8.0%13.7%
Skew 10d13.0%-2.6%55.6%10.1%20.3%
Call IV 25d55.7%42.0%89.8%42.0%58.4%
Put IV 25d61.5%46.7%85.8%50.0%72.1%
Bid-Ask Spread %85.6160.59110.2686.91102.40
Gamma HHI0.320.250.380.340.25
Net GEX45.4K11.8K73.5K61.4K21.9K
Net DEX-1.5M-2.2M-450.8K-2.2M-793.1K
Net VEX-4.3K-4.7K-3.9K-3.9K-4.6K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.060.622.490.711.13
Total Volume201.05133257226145
Total OI1,059.455481,3011,101762

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2022-01-03$46.62$35.0048.6%13.9%40.8%54.4%45.0%8.0%2.0%61.4K-2.2M-3.9K0.7186.91N/AN/A13294735366
2022-01-04$44.85$35.0046.2%13.2%42.2%48.1%44.1%4.2%4.3%60.6K-2.0M-4.6K0.6390.18N/AN/A15397788367
2022-01-05$42.98$35.0053.7%15.4%41.0%67.4%45.9%-5.4%-7.4%54.7K-1.8M-4.6K0.7287.16N/AN/A13497807370
2022-01-06$45.84$40.0044.8%13.2%47.2%44.5%50.7%1.1%-9.2%66.1K-2.2M-4.5K0.6367.34N/AN/A15699806370
2022-01-07$42.51$40.0043.0%14.7%53.4%39.8%52.6%-5.9%-1.3%53.6K-1.6M-4.2K0.8271.79N/AN/A12199829371
2022-01-10$41.93$40.0055.3%14.9%53.6%71.7%50.8%6.4%-3.1%50.8K-1.5M-4.1K0.8960.59N/AN/A10493831371
2022-01-11$43.34$40.0045.3%14.5%53.0%45.8%50.7%6.8%-7.2%60.1K-1.8M-4.2K1.0768.98N/AN/A8793850375
2022-01-12$43.36$40.0052.7%15.1%53.0%64.9%52.4%9.8%-2.3%60.9K-1.8M-4.4K0.8573.38N/AN/A11093864375
2022-01-13$43.05$40.0052.5%15.0%52.0%64.3%55.9%6.1%-7.1%63.1K-1.9M-4.5K0.9475.28N/AN/A9892888376
2022-01-14$44.72$40.0048.0%13.8%51.7%52.8%56.1%10.5%-12.6%73.5K-2.1M-4.5K0.6279.31N/AN/A14992888375
2022-01-18$43.11$40.0057.0%16.3%53.6%75.9%57.4%10.2%-21.0%64.5K-1.9M-4.3K1.2382.56N/AN/A7592894375
2022-01-19$42.18$40.0049.4%14.1%53.9%56.3%51.9%0.5%-5.5%51.0K-1.6M-4.0K0.8380.23N/AN/A11192895376
2022-01-20$41.64$40.0069.7%20.0%51.5%100.0%62.6%23.1%-33.3%56.2K-1.6M-4.0K0.79107.92N/AN/A11792914376
2022-01-21$41.15$40.0056.0%16.0%50.3%67.4%52.4%3.3%-13.2%21.0K-1.6M-4.0K0.64110.26N/AN/A157100925376
2022-01-24$42.85$40.0061.2%17.5%52.4%79.8%62.4%-17.4%-20.3%22.9K-903.7K-4.2K1.7684.56N/AN/A6711846187
2022-01-25$41.86$40.0061.4%17.6%51.7%80.3%60.5%10.0%-18.2%20.2K-758.0K-4.4K1.8097.93N/AN/A69124466154
2022-01-26$41.62$40.0066.2%19.0%51.7%91.6%62.9%5.4%-13.8%21.0K-768.5K-4.2K2.4998.73N/AN/A55137471160
2022-01-27$39.51$40.0065.5%18.8%54.1%90.0%65.8%19.3%-17.1%11.8K-459.0K-4.5K1.1892.18N/AN/A6678484255
2022-01-28$39.58$40.0062.9%18.0%54.2%83.8%61.8%6.3%-11.2%13.1K-450.8K-4.7K1.4294.47N/AN/A5578485271
2022-01-31$42.22$40.0062.4%17.9%59.9%82.6%58.1%13.7%-4.1%21.9K-793.1K-4.6K1.13102.40N/AN/A6877491271