FORM Options History — May 2022

In May 2022, FORM traded between $36.88 and $42.07. ATM implied volatility averaged 53.0%, placing in the 30.6% IV rank vs the trailing year. The 30-day expected move averaged 15.3%. IV traded below realized volatility by 4.0% (HV 20d: 57.0%). Max pain ranged from $30.00 to $40.00. Net GEX was positive for 18 of 21 trading days. Term structure was in contango for 4 of 21 days. Put/call ratio averaged 0.69.

Notable Days

  • 2022-05-16: Highest Volume — 144 contracts
  • 2022-05-06: Largest IV spike — 35.8% change
  • 2022-05-11: Highest IV Rank — 50.6%
  • 2022-05-11: Largest Expected Move — 20.0%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$39.51$36.88$42.07$39.10$41.21
Max Pain$33.57$30.00$40.00$40.00$35.00
ATM IV53.0%40.5%69.9%52.5%51.3%
Expected Move15.3%13.6%20.0%15.1%14.7%
HV 20d57.0%44.2%64.4%64.4%44.3%
HV 60d56.0%54.0%57.4%55.8%54.0%
IV Rank30.6%15.7%50.6%30.0%28.6%
IV Percentile75.7%38.9%99.2%77.4%72.2%
Term Structure-5.7%-19.3%4.9%-9.1%-4.4%
VWIV58.4%51.6%68.8%56.8%52.2%
Skew 25d13.8%-0.9%32.5%2.1%16.7%
Skew 10d23.7%1.3%61.8%28.5%25.1%
Call IV 25d49.4%33.2%68.5%61.5%41.1%
Put IV 25d63.1%54.6%79.0%63.6%57.8%
Bid-Ask Spread %100.9790.46111.00106.0497.61
Gamma HHI0.410.300.580.320.52
Net GEX14.5K-10.8K31.9K5.0K27.0K
Net DEX-428.1K-669.4K-74.6K-324.7K-656.8K
Net VEX-2.9K-3.3K-2.4K-3.3K-2.9K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.690.501.060.500.56
Total Volume99.4296414410567
Total OI671.952507759707553

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2022-05-02$39.10$40.0052.5%15.1%64.4%30.0%56.8%2.1%-9.1%5.0K-324.7K-3.3K0.50106.04N/AN/A7035410297
2022-05-03$39.10$40.0050.8%14.6%62.9%28.0%56.4%8.7%-0.9%6.2K-327.3K-3.1K0.51111.00N/AN/A6935410297
2022-05-04$41.12$40.0054.5%15.6%59.7%32.4%54.2%3.5%0.8%10.8K-539.4K-3.3K0.56105.52N/AN/A6335411297
2022-05-05$39.33$30.0040.5%14.5%61.6%15.7%57.6%9.9%-6.2%9.2K-372.9K-3.1K0.52100.13N/AN/A6735413297
2022-05-06$39.03$30.0055.0%15.9%61.6%33.0%61.3%10.6%-10.8%9.0K-418.3K-3.2K0.54103.62N/AN/A6535411297
2022-05-09$38.19$30.0061.0%16.8%59.3%40.1%62.8%9.0%-6.2%-350-252.3K-3.0K0.52104.56N/AN/A6534413297
2022-05-10$37.77$30.0051.8%14.0%55.9%29.1%62.3%11.3%2.3%2.0K-262.0K-2.9K0.5396.93N/AN/A6434413297
2022-05-11$36.88$30.0069.9%20.0%55.0%50.6%60.9%21.3%-19.3%-10.8K-74.6K-2.8K0.56103.49N/AN/A6134413297
2022-05-12$37.78$30.0056.7%16.2%55.4%34.9%68.8%24.5%-5.2%-3.5K-135.8K-2.9K0.66103.34N/AN/A5838415297
2022-05-13$39.58$35.0049.2%14.1%56.9%26.0%58.0%25.6%-6.7%21.5K-431.5K-2.7K0.64102.64N/AN/A5938427299
2022-05-16$39.29$35.0049.2%14.1%56.7%26.1%64.9%-0.9%-0.0%9.5K-425.7K-2.9K0.62109.61N/AN/A8955432299
2022-05-17$41.26$35.0050.7%14.5%58.9%27.8%61.3%11.7%-3.4%31.9K-669.4K-2.9K0.63103.42N/AN/A8755469280
2022-05-18$40.30$30.0054.5%15.6%59.8%32.3%51.6%8.3%-8.7%21.7K-617.9K-3.0K0.86102.89N/AN/A6455479280
2022-05-19$39.74$30.0051.8%14.9%59.7%29.2%58.4%12.3%-12.4%30.9K-491.2K-2.7K0.82104.17N/AN/A6150479280
2022-05-20$38.96$30.0058.5%16.8%59.9%37.1%59.0%16.5%-12.7%18.6K-361.0K-2.4K1.0696.50N/AN/A4851479278
2022-05-23$39.40$35.0047.8%13.7%59.9%24.4%56.9%14.7%0.8%21.7K-493.4K-2.6K0.9893.59N/AN/A444342780
2022-05-24$39.56$35.0056.1%16.1%58.0%34.3%53.7%9.5%-8.0%21.0K-505.7K-2.8K0.9390.46N/AN/A4643442102
2022-05-25$39.35$35.0047.5%13.6%57.9%24.0%60.9%24.4%4.9%20.9K-451.2K-2.8K0.5297.72N/AN/A4222446102
2022-05-26$40.72$35.0049.8%14.3%45.4%26.8%52.3%17.0%-5.4%24.6K-564.4K-2.8K0.8993.44N/AN/A4641438103
2022-05-27$42.07$35.0054.5%15.6%44.2%32.4%55.6%32.5%-8.8%28.1K-614.5K-2.9K0.9893.78N/AN/A4342440115
2022-05-31$41.21$35.0051.3%14.7%44.3%28.6%52.2%16.7%-4.4%27.0K-656.8K-2.9K0.5697.61N/AN/A4324440113