FORM Options History — December 2022

In December 2022, FORM traded between $21.35 and $25.11. ATM implied volatility averaged 57.6%, placing in the 33.5% IV rank vs the trailing year. The 30-day expected move averaged 14.9%. IV traded above realized volatility by 7.6% (HV 20d: 50.0%). Max pain ranged from $22.50 to $22.50. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 7 of 21 days. Put/call ratio averaged 0.92.

Notable Days

  • 2022-12-05: Highest Volume — 93 contracts
  • 2022-12-06: Largest IV spike — 62.2% change
  • 2022-12-09: Highest IV Rank — 58.5%
  • 2022-12-30: Largest Expected Move — 20.3%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$23.14$21.35$25.11$23.66$22.12
Max Pain$22.50$22.50$22.50$22.50$22.50
ATM IV57.6%42.1%80.2%53.0%70.9%
Expected Move14.9%12.0%20.3%15.2%20.3%
HV 20d50.0%40.6%59.4%59.4%47.7%
HV 60d75.2%73.5%77.0%74.1%76.6%
IV Rank33.5%16.5%58.5%28.4%48.3%
IV Percentile66.1%20.2%98.0%57.9%96.8%
Term Structure-2.9%-21.4%31.4%-1.6%-12.6%
VWIV46.6%28.9%66.2%49.5%42.6%
Skew 25d14.3%-5.9%44.9%10.1%12.3%
Skew 10d4.7%-19.6%20.8%15.8%5.5%
Call IV 25d36.6%28.7%43.0%36.7%42.1%
Put IV 25d50.9%34.3%77.2%46.9%54.5%
Bid-Ask Spread %104.3489.36118.22109.71102.61
Gamma HHI0.220.190.270.210.23
Net GEX3.8K3079.8K8.2K1.3K
Net DEX-92.8K-307.0K64.6K-248.4K11.0K
Net VEX-1.9K-2.1K-1.6K-2.0K-1.7K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.920.004.470.750.00
Total Volume13093217
Total OI710.571663750663704

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2022-12-01$23.66$22.5053.0%15.2%59.4%28.4%0.0%10.1%-1.6%8.2K-248.4K-2.0K0.00109.71N/AN/A02531132
2022-12-02$23.47$22.5050.8%14.6%57.1%26.0%0.0%20.8%5.0%8.0K-224.0K-2.0K0.75118.22N/AN/A43531134
2022-12-05$24.29$22.5043.8%12.6%56.2%18.3%49.5%13.8%-0.6%9.8K-307.0K-2.1K4.47103.11N/AN/A1776535134
2022-12-06$23.74$22.5071.1%12.9%57.1%48.4%58.2%9.5%4.0%6.0K-193.1K-2.1K1.0089.36N/AN/A11548202
2022-12-07$23.80$22.5049.8%13.2%56.3%24.9%37.1%-5.9%-0.7%6.2K-196.5K-2.1K3.00102.07N/AN/A13548201
2022-12-08$24.06$22.5051.0%12.0%55.2%26.2%0.0%6.8%-10.4%6.6K-214.2K-2.1K0.00106.37N/AN/A00548198
2022-12-09$23.69$22.5080.2%14.6%43.6%58.5%55.5%0.5%-0.6%5.9K-147.5K-2.1K0.00100.54N/AN/A370548198
2022-12-12$24.08$22.5070.9%13.0%40.6%48.2%43.3%11.7%11.4%4.9K-159.1K-2.0K1.82112.10N/AN/A1120513198
2022-12-13$25.11$22.5067.0%13.0%41.6%43.9%66.2%25.9%-9.9%5.1K-187.5K-2.1K0.00100.61N/AN/A03517217
2022-12-14$24.27$22.5048.6%13.9%41.2%23.6%48.3%9.6%0.2%3.8K-134.6K-2.1K1.00106.96N/AN/A1919517217
2022-12-15$22.93$22.5054.6%15.7%45.2%30.3%0.0%9.3%-11.0%2.2K-8.1K-1.9K0.00100.19N/AN/A00518210
2022-12-16$23.80$22.5042.8%12.3%46.9%17.2%48.8%7.1%5.3%2.3K-102.8K-2.0K1.50101.70N/AN/A46518210
2022-12-19$22.60$22.5060.9%17.5%50.7%37.2%35.6%21.2%-21.4%2.1K-48.3K-2.0K0.0097.10N/AN/A30490204
2022-12-20$22.54$22.5050.5%14.5%49.9%25.7%28.9%8.9%4.9%1.1K16.5K-1.8K0.0099.65N/AN/A30492204
2022-12-21$22.61$22.5063.8%18.3%49.6%40.4%0.0%14.1%-13.7%2.0K-36.0K-1.9K0.0099.41N/AN/A100489203
2022-12-22$21.74$22.5057.3%16.4%51.0%33.2%56.9%16.7%-7.5%37845.2K-1.7K0.25115.79N/AN/A41499202
2022-12-23$21.35$22.5042.1%12.1%51.2%16.5%49.4%25.3%31.4%30742.0K-1.8K0.00110.92N/AN/A01499203
2022-12-27$22.17$22.5061.6%17.7%50.0%38.0%0.0%44.9%-13.2%1.1K64.6K-1.6K0.00106.58N/AN/A40499204
2022-12-28$21.63$22.5056.7%16.3%50.8%32.5%32.4%34.3%-6.6%1.2K40.2K-1.7K0.00102.56N/AN/A30499204
2022-12-29$22.26$22.5062.0%17.8%49.2%38.4%0.0%3.3%-13.1%78037.9K-1.7K0.00105.50N/AN/A00500204
2022-12-30$22.12$22.5070.9%20.3%47.7%48.3%42.6%12.3%-12.6%1.3K11.0K-1.7K0.00102.61N/AN/A170500204