FORM Options History — November 2022

In November 2022, FORM traded between $18.25 and $22.98. ATM implied volatility averaged 56.5%, placing in the 32.3% IV rank vs the trailing year. The 30-day expected move averaged 15.9%. IV traded below realized volatility by 47.1% (HV 20d: 103.6%). Max pain ranged from $20.00 to $25.00. Net GEX was positive for 13 of 21 trading days. Term structure was in contango for 7 of 21 days. Put/call ratio averaged 1.12.

Notable Days

  • 2022-11-01: Highest Volume — 248 contracts
  • 2022-11-07: Largest IV spike — 63.9% change
  • 2022-11-30: Highest IV Rank — 52.1%
  • 2022-11-30: Largest Expected Move — 21.3%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$21.26$18.25$22.98$19.95$22.95
Max Pain$22.26$20.00$25.00$25.00$22.50
ATM IV56.5%41.3%74.4%65.2%74.4%
Expected Move15.9%12.0%21.3%18.7%21.3%
HV 20d103.6%60.4%118.8%106.7%62.9%
HV 60d71.6%67.2%74.0%68.7%73.8%
IV Rank32.3%15.5%52.1%42.0%52.1%
IV Percentile68.4%23.0%98.0%93.3%98.0%
Term Structure-6.4%-34.6%9.1%-10.1%-34.6%
VWIV51.3%33.0%71.0%69.4%71.0%
Skew 25d10.2%-4.2%29.7%11.2%19.8%
Skew 10d8.5%-14.5%26.0%8.2%11.8%
Call IV 25d47.6%32.8%59.6%59.6%32.8%
Put IV 25d57.8%40.5%78.9%70.8%52.6%
Bid-Ask Spread %103.4182.07120.0882.07115.70
Gamma HHI0.250.180.350.290.26
Net GEX2.2K-4.5K7.8K-4.5K6.8K
Net DEX45.6K-169.8K569.9K534.4K-144.7K
Net VEX-1.5K-1.9K-989-1.6K-1.7K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.120.004.001.210.00
Total Volume157.857524824810
Total OI745.905576968968653

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2022-11-01$19.95$25.0065.2%18.7%106.7%42.0%69.4%11.2%-10.1%-4.5K534.4K-1.6K1.2182.07N/AN/A112136517451
2022-11-02$18.95$25.0044.6%12.8%105.8%19.1%49.6%22.9%5.5%-4.4K569.9K-1.4K0.9797.83N/AN/A112109519447
2022-11-03$18.25$22.5056.8%14.4%105.3%32.7%51.4%1.7%4.2%-3.2K256.1K-9891.1291.46N/AN/A8191518244
2022-11-04$19.14$22.5041.3%13.0%108.0%15.5%50.7%7.8%-3.7%-3.7K198.1K-1.1K1.1997.80N/AN/A8196531236
2022-11-07$19.71$20.0067.7%15.1%109.0%44.7%51.6%7.3%-1.6%-2.4K151.4K-1.3K1.1990.55N/AN/A8196532241
2022-11-08$19.37$20.0060.4%15.9%108.5%36.6%50.0%3.3%-3.9%-3.2K176.0K-1.2K1.17100.04N/AN/A8296533242
2022-11-09$19.00$20.0053.4%15.3%108.3%28.9%51.9%5.8%-1.0%-2.5K196.2K-1.1K1.1689.25N/AN/A8396532242
2022-11-10$21.10$20.0054.0%15.5%115.5%29.6%56.2%6.4%9.1%-1.2K98.4K-1.4K1.24106.06N/AN/A7998523242
2022-11-11$22.19$22.5043.3%12.4%117.0%17.7%45.4%17.8%1.5%1.0K16.3K-1.5K0.8896.32N/AN/A10895523244
2022-11-14$21.74$22.5055.4%15.9%116.9%31.1%52.6%0.6%2.0%1.3K48.7K-1.4K1.0992.00N/AN/A8997549244
2022-11-15$22.80$22.5049.9%14.3%118.5%25.0%50.6%5.5%8.8%5.1K-89.4K-1.5K0.73102.53N/AN/A139102555220
2022-11-16$22.19$22.5059.4%17.0%118.8%35.6%49.4%6.2%-20.2%5.1K-38.6K-1.4K0.74116.72N/AN/A137102581218
2022-11-17$22.41$22.5057.5%16.5%118.4%33.4%53.2%-4.2%-11.5%5.1K-56.3K-1.5K0.81115.42N/AN/A126102586218
2022-11-18$22.63$22.5058.6%16.8%117.6%34.7%52.6%5.4%-14.9%7.8K-165.2K-1.9K0.89115.78N/AN/A119106605218
2022-11-21$22.09$22.5048.7%14.0%117.7%23.7%48.1%16.0%-11.9%5.5K-116.5K-1.5K0.91112.10N/AN/A8880467109
2022-11-22$22.42$22.5041.9%12.0%117.7%16.2%43.0%4.0%0.4%6.4K-138.8K-1.6K0.49110.60N/AN/A9748476109
2022-11-23$22.84$22.5059.8%17.2%117.7%36.0%44.7%19.2%-7.2%7.3K-168.3K-1.7K0.74105.97N/AN/A6548513112
2022-11-25$22.98$22.5063.6%18.2%60.4%40.2%33.0%29.7%-22.4%7.1K-169.8K-1.7K3.00104.38N/AN/A26515111
2022-11-28$21.84$22.5059.2%17.0%62.3%35.3%51.5%25.1%-8.2%6.1K-99.6K-1.6K4.00120.08N/AN/A312517123
2022-11-29$21.94$22.5070.7%20.3%62.0%48.0%71.0%2.5%-15.5%5.8K-100.8K-1.7K0.00108.97N/AN/A50516132
2022-11-30$22.95$22.5074.4%21.3%62.9%52.1%0.0%19.8%-34.6%6.8K-144.7K-1.7K0.00115.70N/AN/A100521132