FORM Options History — July 2022

In July 2022, FORM traded between $33.83 and $40.49. ATM implied volatility averaged 57.5%, placing in the 35.9% IV rank vs the trailing year. The 30-day expected move averaged 15.5%. IV traded below realized volatility by 3.6% (HV 20d: 61.1%). Max pain ranged from $30.00 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 0.59.

Notable Days

2022-07-08: Highest Volume — 276 contracts
2022-07-13: Largest IV drop — 34.9% change
2022-07-11: Highest IV Rank — 77.5%
2022-07-06: Largest Expected Move — 18.8%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$36.87	$33.83	$40.49	$34.60	$35.57
Max Pain	$34.25	$30.00	$40.00	$40.00	$35.00
ATM IV	57.5%	35.4%	92.5%	50.6%	35.4%
Expected Move	15.5%	10.1%	18.8%	14.5%	10.1%
HV 20d	61.1%	51.6%	77.5%	64.2%	77.5%
HV 60d	54.6%	49.8%	59.5%	55.9%	59.5%
IV Rank	35.9%	9.7%	77.5%	27.7%	9.7%
IV Percentile	70.5%	11.5%	99.2%	63.5%	11.5%
Term Structure	-5.2%	-25.5%	8.2%	0.0%	-0.1%
VWIV	58.6%	35.6%	74.4%	65.2%	35.6%
Skew 25d	-0.7%	-15.2%	10.2%	-11.9%	6.7%
Skew 10d	20.2%	-27.8%	62.3%	-27.8%	13.1%
Call IV 25d	60.2%	34.6%	86.2%	78.8%	34.6%
Put IV 25d	59.4%	41.3%	71.0%	66.9%	41.3%
Bid-Ask Spread %	84.73	50.49	115.03	103.61	71.78
Gamma HHI	0.33	0.26	0.46	0.31	0.46
Net GEX	9.0K	1.6K	23.0K	1.6K	11.2K
Net DEX	-268.7K	-663.5K	-43.4K	-69.0K	-268.8K
Net VEX	-1.9K	-2.6K	-1.5K	-1.5K	-2.6K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.59	0.21	1.74	0.21	0.48
Total Volume	157.1	80	276	80	157
Total OI	524.9	289	733	587	591

Daily Data (20 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
2022-07-01	$34.60	$40.00	50.6%	14.5%	64.2%	27.7%	65.2%	-11.9%	0.0%	1.6K	-69.0K	-1.5K	0.21	103.61	N/A	N/A	66	14	470	117
2022-07-05	$34.31	$35.00	67.6%	18.5%	63.4%	48.0%	74.4%	-12.3%	-5.6%	2.9K	-43.4K	-1.5K	1.74	107.69	N/A	N/A	65	113	472	119
2022-07-06	$33.83	$30.00	60.2%	18.8%	63.4%	39.1%	70.7%	-15.2%	-6.2%	3.5K	-49.1K	-1.6K	1.22	108.56	N/A	N/A	93	113	472	147
2022-07-07	$35.07	$30.00	53.0%	15.6%	65.3%	30.6%	68.0%	-14.1%	8.2%	2.8K	-84.7K	-1.5K	1.22	115.03	N/A	N/A	93	113	495	145
2022-07-08	$35.38	$30.00	68.8%	17.4%	65.3%	49.4%	58.2%	-9.9%	-9.7%	2.8K	-66.5K	-1.5K	0.40	91.22	N/A	N/A	197	79	499	145
2022-07-11	$35.22	$30.00	92.5%	16.6%	65.2%	77.5%	61.2%	-11.3%	-6.8%	4.3K	-135.8K	-1.6K	0.63	96.63	N/A	N/A	126	79	573	146
2022-07-12	$35.11	$30.00	88.4%	16.0%	64.3%	72.6%	57.1%	-7.7%	-3.7%	3.9K	-97.3K	-1.5K	0.23	96.34	N/A	N/A	113	26	567	146
2022-07-13	$35.43	$30.00	57.5%	16.5%	62.2%	35.9%	46.4%	5.9%	-1.9%	4.3K	-111.0K	-1.6K	0.22	96.05	N/A	N/A	117	26	568	155
2022-07-14	$36.28	$30.00	55.0%	15.8%	62.3%	32.9%	56.2%	-10.1%	-8.5%	4.4K	-160.2K	-1.6K	0.32	103.34	N/A	N/A	93	30	568	155
2022-07-15	$37.34	$40.00	61.8%	17.7%	63.1%	41.0%	62.9%	8.0%	-25.5%	7.5K	-214.5K	-1.7K	0.40	93.54	N/A	N/A	103	41	574	159
2022-07-18	$36.89	$40.00	63.5%	18.2%	53.4%	43.1%	68.5%	5.3%	-3.3%	7.4K	-244.8K	-1.6K	0.25	90.99	N/A	N/A	79	20	203	86
2022-07-19	$38.86	$40.00	50.7%	14.5%	55.0%	27.8%	51.7%	5.7%	-0.2%	12.6K	-410.1K	-2.0K	0.24	72.05	N/A	N/A	85	20	237	86
2022-07-20	$40.12	$35.00	50.2%	14.4%	54.3%	27.2%	62.4%	6.9%	-4.7%	13.9K	-496.4K	-2.1K	0.58	66.94	N/A	N/A	84	49	251	88
2022-07-21	$40.30	$35.00	49.1%	14.1%	54.2%	26.0%	58.5%	7.1%	-4.5%	15.1K	-513.2K	-2.0K	1.00	62.73	N/A	N/A	51	51	253	58
2022-07-22	$39.21	$35.00	49.0%	14.0%	54.8%	25.8%	58.3%	7.9%	-5.5%	16.0K	-473.6K	-2.1K	0.62	70.64	N/A	N/A	85	53	272	60
2022-07-25	$39.40	$35.00	52.5%	15.1%	53.2%	30.0%	63.6%	7.3%	-7.8%	17.4K	-545.7K	-2.4K	0.61	72.65	N/A	N/A	85	52	310	60
2022-07-26	$39.46	$35.00	53.6%	15.4%	51.6%	31.3%	56.3%	5.9%	-7.9%	18.3K	-567.0K	-2.4K	0.42	67.68	N/A	N/A	134	56	316	61
2022-07-27	$40.49	$35.00	52.8%	15.1%	51.8%	30.4%	57.6%	10.2%	-9.2%	23.0K	-663.5K	-2.6K	0.73	50.49	N/A	N/A	81	59	354	66
2022-07-28	$34.57	$35.00	37.5%	10.7%	76.5%	12.1%	39.0%	1.3%	-1.3%	7.3K	-159.4K	-1.9K	0.30	56.62	N/A	N/A	186	55	354	100
2022-07-29	$35.57	$35.00	35.4%	10.1%	77.5%	9.7%	35.6%	6.7%	-0.1%	11.2K	-268.8K	-2.6K	0.48	71.78	N/A	N/A	106	51	446	145