FORM Options History — March 2022

In March 2022, FORM traded between $37.33 and $44.39. ATM implied volatility averaged 49.5%, placing in the 52.3% IV rank vs the trailing year. The 30-day expected move averaged 14.6%. IV traded below realized volatility by 6.1% (HV 20d: 55.6%). Max pain ranged from $35.00 to $40.00. Net GEX was positive for 23 of 23 trading days. Term structure was in contango for 7 of 23 days. Put/call ratio averaged 1.05.

Notable Days

  • 2022-03-24: Highest Volume — 333 contracts
  • 2022-03-21: Largest IV spike — 87.0% change
  • 2022-03-07: Highest IV Rank — 87.1%
  • 2022-03-11: Largest Expected Move — 22.8%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$40.85$37.33$44.39$39.11$42.05
Max Pain$36.50$35.00$40.00$40.00$40.00
ATM IV49.5%27.3%64.3%43.7%48.4%
Expected Move14.6%11.1%22.8%12.5%12.9%
HV 20d55.6%46.5%61.1%46.5%54.0%
HV 60d52.3%49.9%54.9%49.9%54.4%
IV Rank52.3%0.0%87.1%38.3%49.9%
IV Percentile68.9%0.0%97.2%51.6%69.8%
Term Structure-3.9%-22.7%10.6%-0.0%-7.6%
VWIV60.5%42.1%85.3%49.0%49.4%
Skew 25d15.7%1.7%45.3%1.7%8.7%
Skew 10d29.7%4.2%77.3%4.2%18.9%
Call IV 25d44.1%32.2%56.5%51.1%43.8%
Put IV 25d59.8%37.8%91.2%52.8%52.6%
Bid-Ask Spread %105.7287.22118.59114.4692.97
Gamma HHI0.290.250.350.260.33
Net GEX23.6K3.3K49.4K11.4K36.3K
Net DEX-666.0K-1.1M-289.0K-458.1K-899.1K
Net VEX-3.8K-4.5K-3.1K-3.8K-4.4K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.050.513.780.620.86
Total Volume174.39197333133197
Total OI827.783646933783933

Daily Data (23 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2022-03-01$39.11$40.0043.7%12.5%46.5%38.3%49.0%1.7%-0.0%11.4K-458.1K-3.8K0.62114.46N/AN/A8251517266
2022-03-02$41.67$35.0058.0%16.6%52.2%72.1%64.3%12.8%1.0%16.9K-693.2K-3.6K0.54100.44N/AN/A9551517265
2022-03-03$40.42$35.0059.5%17.0%53.0%75.7%64.2%4.7%3.9%18.7K-588.2K-3.9K0.70103.27N/AN/A7351539265
2022-03-04$39.52$35.0057.7%16.5%51.0%71.5%69.4%30.7%-6.0%11.8K-459.8K-3.8K0.70114.93N/AN/A7351539265
2022-03-07$37.93$35.0064.3%18.4%52.8%87.1%68.8%28.6%-22.7%3.3K-365.3K-3.7K0.60115.47N/AN/A7344539265
2022-03-08$38.27$35.0055.8%19.4%52.8%67.0%76.8%19.6%-14.9%6.9K-289.0K-3.4K0.57114.13N/AN/A7744540266
2022-03-09$40.38$35.0051.9%16.8%55.4%57.8%63.9%12.0%-3.0%15.7K-619.8K-3.5K0.59116.02N/AN/A7444544266
2022-03-10$39.77$35.0050.3%20.9%55.3%54.0%73.6%6.1%-6.5%13.8K-505.2K-3.5K0.59118.59N/AN/A7444544266
2022-03-11$39.45$35.0059.3%22.8%54.0%75.3%84.4%26.0%-12.8%14.9K-534.8K-3.5K0.59118.07N/AN/A7544544266
2022-03-14$37.33$40.0050.7%13.4%56.3%54.9%50.1%13.5%6.1%3.7K-299.8K-3.1K0.5791.95N/AN/A7543546266
2022-03-15$38.14$40.0054.7%13.3%56.3%64.4%44.7%45.3%-13.8%5.9K-368.3K-3.1K0.6487.22N/AN/A6743547267
2022-03-16$41.11$40.0053.7%13.4%60.4%62.1%45.9%9.8%-0.2%22.2K-637.0K-3.4K0.5195.66N/AN/A8041549267
2022-03-17$41.83$0.0045.7%13.2%60.5%43.1%0.0%11.0%4.3%28.4K-751.8K-3.5K0.59112.80N/AN/A6136565268
2022-03-18$42.53$0.0027.3%11.1%60.8%0.0%0.0%5.6%10.6%38.0K-889.2K-3.2K0.60117.78N/AN/A8450564269
2022-03-21$41.54$0.0051.0%12.5%61.1%55.9%47.7%16.2%-6.3%33.5K-729.5K-3.3K3.78108.22N/AN/A55208536110
2022-03-22$41.67$35.0040.8%12.8%59.4%31.9%85.3%12.3%-5.6%29.7K-615.8K-3.9K2.57108.82N/AN/A83213542272
2022-03-23$41.39$35.0039.1%11.5%57.3%27.9%82.0%2.2%-2.5%28.5K-659.4K-4.0K2.60103.93N/AN/A82213574277
2022-03-24$43.24$35.0039.0%12.9%56.3%27.5%64.5%22.1%7.3%41.8K-932.7K-4.1K1.77101.89N/AN/A120213576277
2022-03-25$43.04$35.0041.3%11.8%56.3%33.2%45.9%13.5%-9.9%39.7K-1.1M-4.4K1.8297.85N/AN/A118215609277
2022-03-28$42.45$35.0052.9%12.2%56.0%60.4%47.1%30.3%-13.0%34.4K-876.1K-4.3K0.69101.57N/AN/A11882615279
2022-03-29$44.39$35.0042.9%11.3%56.5%36.7%51.7%10.2%-5.8%49.4K-1.1M-4.5K0.8691.90N/AN/A10691615293
2022-03-30$42.40$40.0051.0%12.9%55.1%55.9%42.1%17.2%8.8%36.8K-951.3K-4.5K0.86103.71N/AN/A10691631302
2022-03-31$42.05$40.0048.4%12.9%54.0%49.9%49.4%8.7%-7.6%36.3K-899.1K-4.4K0.8692.97N/AN/A10691631302