FORM Options History — February 2022

In February 2022, FORM traded between $38.94 and $43.15. ATM implied volatility averaged 49.7%, placing in the 52.5% IV rank vs the trailing year. The 30-day expected move averaged 14.2%. IV traded below realized volatility by 1.3% (HV 20d: 51.0%). Max pain ranged from $35.00 to $40.00. Net GEX was positive for 8 of 19 trading days. Term structure was in contango for 8 of 19 days. Put/call ratio averaged 1.31.

Notable Days

2022-02-02: Highest Volume — 1,278 contracts
2022-02-07: Largest IV spike — 51.2% change
2022-02-07: Highest IV Rank — 99.8%
2022-02-02: Largest Expected Move — 19.3%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$41.38	$38.94	$43.15	$42.58	$40.34
Max Pain	$38.68	$35.00	$40.00	$40.00	$40.00
ATM IV	49.7%	33.8%	69.7%	51.2%	64.6%
Expected Move	14.2%	9.7%	19.3%	14.7%	18.5%
HV 20d	51.0%	46.6%	59.6%	59.6%	51.2%
HV 60d	47.2%	44.7%	49.7%	44.7%	49.7%
IV Rank	52.5%	14.9%	99.8%	56.2%	87.8%
IV Percentile	65.1%	8.3%	99.6%	79.0%	97.6%
Term Structure	-2.8%	-21.0%	13.0%	-4.0%	-21.0%
VWIV	52.4%	42.9%	67.7%	56.3%	66.7%
Skew 25d	6.9%	-8.9%	40.3%	5.8%	40.3%
Skew 10d	7.4%	-30.6%	42.9%	11.7%	42.9%
Call IV 25d	47.6%	39.9%	65.6%	58.3%	41.3%
Put IV 25d	54.5%	44.5%	81.5%	64.1%	81.5%
Bid-Ask Spread %	98.67	69.56	115.20	89.18	115.20
Gamma HHI	0.36	0.25	0.53	0.26	0.25
Net GEX	-19.7K	-76.4K	24.3K	23.3K	13.6K
Net DEX	-346.2K	-958.5K	520.2K	-860.1K	-519.7K
Net VEX	-5.0K	-6.7K	-3.8K	-4.6K	-3.9K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	1.31	0.47	11.91	0.74	0.62
Total Volume	226.526	126	1,278	181	133
Total OI	1,167.474	757	1,446	772	773

Daily Data (19 trading days)

Date	Price	Max Pain	ATM IV	Exp Move	HV 20d	IV Rank	VWIV	Skew 25d	Term Str	GEX	DEX	VEX	P/C	Spread %	Call Wall	Put Wall	Call Vol	Put Vol	Call OI	Put OI
2022-02-01	$42.58	$40.00	51.2%	14.7%	59.6%	56.2%	56.3%	5.8%	-4.0%	23.3K	-860.1K	-4.6K	0.74	89.18	N/A	N/A	104	77	499	273
2022-02-02	$42.95	$40.00	67.2%	19.3%	58.4%	93.9%	67.7%	4.6%	-6.3%	24.3K	-958.5K	-5.1K	11.91	69.56	N/A	N/A	99	1,179	565	279
2022-02-03	$40.97	$35.00	53.7%	17.3%	58.8%	61.9%	45.1%	-8.9%	-9.0%	-43.0K	135.6K	-6.7K	0.96	99.94	N/A	N/A	77	74	572	784
2022-02-04	$40.44	$35.00	46.1%	12.7%	53.3%	44.0%	55.7%	8.0%	3.2%	-47.4K	135.4K	-6.2K	1.04	99.76	N/A	N/A	76	79	559	785
2022-02-07	$40.72	$35.00	69.7%	15.2%	46.8%	99.8%	58.4%	11.3%	-10.8%	-39.5K	136.2K	-6.0K	0.77	95.86	N/A	N/A	105	81	562	786
2022-02-08	$41.93	$35.00	40.3%	14.2%	47.9%	30.2%	50.6%	0.8%	-10.8%	-53.2K	-285.1K	-5.7K	0.74	97.14	N/A	N/A	110	81	562	788
2022-02-09	$42.52	$35.00	43.3%	12.4%	46.6%	37.4%	53.5%	3.8%	2.5%	-37.1K	-429.9K	-5.7K	0.87	81.71	N/A	N/A	93	81	598	788
2022-02-10	$41.00	$40.00	48.9%	14.0%	48.2%	50.8%	50.4%	3.4%	0.7%	-59.6K	-49.8K	-5.7K	0.87	96.57	N/A	N/A	104	90	597	789
2022-02-11	$39.71	$40.00	40.3%	11.6%	49.3%	30.3%	45.6%	-2.5%	11.2%	-76.4K	520.2K	-5.4K	0.77	93.82	N/A	N/A	114	88	598	805
2022-02-14	$40.53	$40.00	49.9%	14.3%	47.7%	53.0%	50.7%	-4.1%	0.9%	-66.7K	237.0K	-5.1K	0.77	93.82	N/A	N/A	122	94	593	819
2022-02-15	$42.45	$40.00	42.0%	12.0%	49.4%	34.3%	45.4%	6.2%	13.0%	-46.3K	-395.8K	-4.9K	0.76	100.46	N/A	N/A	124	94	587	839
2022-02-16	$43.15	$40.00	33.8%	9.7%	49.1%	14.9%	50.2%	11.1%	1.9%	-25.1K	-635.2K	-4.7K	0.83	98.73	N/A	N/A	101	84	592	839
2022-02-17	$42.90	$40.00	39.0%	11.2%	48.9%	27.3%	42.9%	-4.2%	8.9%	-24.2K	-537.8K	-4.7K	0.64	106.04	N/A	N/A	101	65	606	839
2022-02-18	$42.20	$40.00	43.8%	12.6%	49.1%	38.6%	45.2%	8.4%	-4.9%	21.3K	-904.4K	-4.2K	0.71	106.73	N/A	N/A	92	65	606	840
2022-02-22	$40.59	$40.00	49.9%	14.3%	48.8%	53.0%	46.6%	11.9%	-2.7%	16.8K	-592.0K	-4.0K	0.48	102.96	N/A	N/A	88	42	503	254
2022-02-23	$38.94	$40.00	45.2%	13.0%	50.2%	41.9%	50.2%	-3.5%	-3.0%	11.2K	-480.0K	-4.0K	0.47	106.34	N/A	N/A	90	42	508	255
2022-02-24	$41.08	$40.00	56.5%	16.2%	54.1%	68.6%	57.3%	17.5%	-16.1%	14.8K	-519.7K	-3.8K	0.50	108.91	N/A	N/A	86	43	513	255
2022-02-25	$41.17	$40.00	58.2%	16.7%	50.6%	72.6%	57.5%	20.7%	-7.0%	18.5K	-575.0K	-3.9K	0.52	112.09	N/A	N/A	83	43	515	257
2022-02-28	$40.34	$40.00	64.6%	18.5%	51.2%	87.8%	66.7%	40.3%	-21.0%	13.6K	-519.7K	-3.9K	0.62	115.20	N/A	N/A	82	51	516	257