FORM Options History — May 2023

In May 2023, FORM traded between $26.31 and $31.85. ATM implied volatility averaged 50.0%, placing in the 21.4% IV rank vs the trailing year. The 30-day expected move averaged 14.4%. IV traded above realized volatility by 13.3% (HV 20d: 36.7%). Max pain ranged from $22.50 to $30.00. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 8 of 22 days. Put/call ratio averaged 1.07.

Notable Days

  • 2023-05-26: Highest Volume — 78 contracts
  • 2023-05-04: Largest IV drop — 36.5% change
  • 2023-05-03: Highest IV Rank — 46.1%
  • 2023-05-03: Largest Expected Move — 20.4%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$29.25$26.31$31.85$27.49$31.17
Max Pain$23.86$22.50$30.00$25.00$30.00
ATM IV50.0%35.5%71.2%63.4%53.6%
Expected Move14.4%10.9%20.4%18.2%15.4%
HV 20d36.7%27.2%42.3%29.1%42.3%
HV 60d37.5%35.3%44.0%42.2%37.0%
IV Rank21.4%4.7%46.1%37.0%25.6%
IV Percentile42.3%4.0%97.2%88.1%62.3%
Term Structure-3.8%-25.6%7.7%-8.9%4.6%
VWIV46.2%29.4%57.2%54.6%29.4%
Skew 25d10.3%-8.2%52.2%4.4%6.0%
Skew 10d13.8%-2.2%69.1%20.2%4.8%
Call IV 25d39.2%29.7%56.6%56.6%50.4%
Put IV 25d49.5%34.3%85.0%61.0%56.4%
Bid-Ask Spread %106.4196.21117.89100.10106.02
Gamma HHI0.370.290.500.290.50
Net GEX5.8K4.2K9.1K5.1K9.1K
Net DEX-243.4K-399.8K-97.2K-170.1K-399.8K
Net VEX-1.3K-1.7K-1.1K-1.2K-1.7K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.070.004.670.000.00
Total Volume11.72707830
Total OI304.5251379260379

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2023-05-01$27.49$25.0063.4%18.2%29.1%37.0%54.6%4.4%-8.9%5.1K-170.1K-1.2K0.00100.10N/AN/A3020555
2023-05-02$27.30$25.0069.9%20.0%29.1%44.5%0.0%22.3%-25.6%5.0K-162.7K-1.2K0.00106.78N/AN/A0019655
2023-05-03$27.48$25.0071.2%20.4%27.2%46.1%57.2%7.8%-16.7%5.0K-162.6K-1.2K1.50107.86N/AN/A101519655
2023-05-04$26.31$22.5045.2%13.1%30.4%16.0%0.0%13.1%2.3%4.2K-97.2K-1.1K0.00104.14N/AN/A01120778
2023-05-05$27.95$22.5036.9%10.9%38.5%6.3%0.0%12.6%-4.2%5.6K-176.3K-1.2K0.00105.22N/AN/A0020773
2023-05-08$27.92$22.5035.5%11.9%36.2%4.7%31.3%20.4%1.2%5.6K-172.7K-1.2K0.50101.45N/AN/A8420773
2023-05-09$27.75$22.5046.8%13.0%36.1%17.8%0.0%-8.2%3.0%5.6K-167.0K-1.2K4.67106.83N/AN/A62820873
2023-05-10$28.70$22.5048.9%14.0%38.2%20.2%53.5%0.7%-5.2%4.8K-194.3K-1.3K0.00104.43N/AN/A30208101
2023-05-11$28.57$22.5043.3%12.4%38.1%13.7%0.0%10.3%-3.5%4.8K-190.2K-1.3K0.00106.76N/AN/A00209101
2023-05-12$28.11$22.5042.0%12.0%38.3%12.2%0.0%-5.8%-3.2%4.7K-172.8K-1.2K0.00107.26N/AN/A00209101
2023-05-15$28.86$22.5046.8%13.4%37.9%17.8%0.0%-1.6%3.8%5.1K-207.4K-1.3K0.00106.27N/AN/A10209101
2023-05-16$29.44$22.5051.6%14.8%37.2%23.4%0.0%5.4%-7.6%5.2K-229.0K-1.3K0.00105.94N/AN/A00210101
2023-05-17$30.09$22.5046.3%13.3%37.8%17.2%0.0%7.1%-8.9%6.0K-241.6K-1.3K3.50116.98N/AN/A27206101
2023-05-18$30.99$22.5045.7%13.1%38.9%16.5%0.0%9.4%-13.4%6.1K-283.4K-1.3K0.00109.05N/AN/A290207109
2023-05-19$30.53$22.5043.9%12.6%38.9%14.4%0.0%6.0%6.3%6.6K-348.1K-1.4K0.20110.05N/AN/A51233109
2023-05-22$30.82$22.5046.4%13.3%38.9%17.3%0.0%12.7%-3.0%6.5K-324.0K-1.4K0.0098.36N/AN/A0022489
2023-05-23$30.55$22.5044.6%12.8%35.3%15.2%0.0%19.1%-2.5%6.5K-313.6K-1.4K0.0096.21N/AN/A0022489
2023-05-24$29.63$22.5043.3%12.4%37.6%13.7%0.0%2.0%7.7%6.0K-271.6K-1.4K0.00102.16N/AN/A2022489
2023-05-25$30.16$22.5051.7%14.8%37.8%23.5%51.2%14.2%1.0%6.1K-301.1K-1.4K3.50107.90N/AN/A2722489
2023-05-26$31.79$30.0055.0%15.8%41.3%27.2%29.4%16.5%-2.9%6.5K-380.6K-1.4K0.00113.24N/AN/A78022696
2023-05-30$31.85$30.0067.2%19.3%41.3%41.4%0.0%52.2%-8.4%6.8K-389.4K-1.6K0.00117.89N/AN/A36024796
2023-05-31$31.17$30.0053.6%15.4%42.3%25.6%0.0%6.0%4.6%9.1K-399.8K-1.7K0.00106.02N/AN/A0028396