FORM Options History — July 2023

In July 2023, FORM traded between $31.86 and $37.04. ATM implied volatility averaged 51.1%, placing in the 23.5% IV rank vs the trailing year. The 30-day expected move averaged 15.3%. IV traded above realized volatility by 9.5% (HV 20d: 41.6%). Max pain ranged from $30.00 to $35.00. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 4 of 20 days. Put/call ratio averaged 0.01.

Notable Days

  • 2023-07-13: Highest Volume — 98 contracts
  • 2023-07-11: Largest IV spike — 62.8% change
  • 2023-07-13: Highest IV Rank — 38.8%
  • 2023-07-13: Largest Expected Move — 18.4%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$34.64$31.86$37.04$33.47$37.04
Max Pain$31.50$30.00$35.00$30.00$35.00
ATM IV51.1%30.3%64.3%51.0%47.5%
Expected Move15.3%11.9%18.4%14.6%13.6%
HV 20d41.6%37.6%44.1%42.3%42.6%
HV 60d39.9%38.3%41.7%38.3%41.7%
IV Rank23.5%0.0%38.8%22.6%19.7%
IV Percentile52.5%0.0%90.5%51.6%40.9%
Term Structure-6.1%-19.5%17.3%-5.4%12.9%
VWIV52.4%42.5%67.1%51.0%67.1%
Skew 25d7.0%-10.7%33.8%4.4%5.4%
Skew 10d17.1%-9.1%55.6%20.6%34.5%
Call IV 25d48.4%34.7%74.7%37.9%57.7%
Put IV 25d55.5%41.4%72.7%42.3%63.1%
Bid-Ask Spread %103.5993.09117.18102.08108.84
Gamma HHI0.530.280.870.640.28
Net GEX22.0K10.6K90.1K15.0K15.8K
Net DEX-583.7K-854.6K-411.3K-543.4K-613.6K
Net VEX-1.6K-1.8K-1.4K-1.6K-1.8K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.010.000.110.000.00
Total Volume18.45098152
Total OI406.35263516417324

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2023-07-03$33.47$30.0051.0%14.6%42.3%22.6%0.0%4.4%-5.4%15.0K-543.4K-1.6K0.00102.08N/AN/A10311106
2023-07-05$32.64$30.0041.4%11.9%39.9%11.5%0.0%1.3%6.7%14.5K-472.3K-1.5K0.00105.69N/AN/A10312106
2023-07-06$31.86$30.0052.1%15.7%39.7%23.9%0.0%5.2%-4.8%11.8K-416.3K-1.5K0.0693.09N/AN/A161313106
2023-07-07$32.14$30.0044.0%17.9%39.2%14.6%0.0%15.2%-19.5%11.8K-411.3K-1.5K0.00101.78N/AN/A40313107
2023-07-10$32.51$30.0030.3%15.0%39.2%0.0%0.0%14.4%-4.6%10.9K-424.6K-1.4K0.0099.47N/AN/A100311107
2023-07-11$32.68$30.0049.4%15.0%37.6%21.8%0.0%-2.4%-13.1%14.9K-431.8K-1.5K0.00115.54N/AN/A100321107
2023-07-12$34.67$30.0043.3%12.4%42.2%14.9%0.0%33.8%-3.0%25.4K-587.4K-1.5K0.00117.18N/AN/A80331107
2023-07-13$36.25$30.0064.3%18.4%43.3%38.8%51.0%30.3%-16.6%26.8K-772.9K-1.6K0.11110.03N/AN/A8810343107
2023-07-14$35.64$30.0055.0%15.8%41.9%28.3%52.4%1.4%-12.2%28.1K-759.4K-1.7K0.00102.35N/AN/A340401112
2023-07-17$36.66$30.0056.4%16.2%41.8%29.8%57.3%5.3%-12.0%28.2K-854.6K-1.6K0.0093.22N/AN/A10392112
2023-07-18$36.55$30.0054.8%15.7%40.7%28.0%51.3%-1.0%-12.9%28.6K-842.6K-1.6K0.0098.31N/AN/A230393112
2023-07-19$36.19$30.0051.4%14.8%40.9%24.2%0.0%11.2%-6.9%30.4K-806.0K-1.5K0.0097.45N/AN/A140395112
2023-07-20$34.83$30.0061.1%17.5%44.1%35.2%0.0%32.6%-14.9%31.3K-665.4K-1.6K0.00102.59N/AN/A150400112
2023-07-21$35.03$30.0051.9%14.9%44.0%24.7%45.3%18.7%-1.2%90.1K-707.6K-1.6K0.0597.90N/AN/A191408108
2023-07-24$34.27$35.0062.6%17.9%43.0%36.9%42.5%-10.3%-19.4%10.6K-436.7K-1.6K0.00104.15N/AN/A5024419
2023-07-25$34.34$35.0059.3%17.0%43.0%33.1%0.0%0.1%-3.4%10.9K-438.9K-1.6K0.00103.51N/AN/A0024919
2023-07-26$34.09$35.0043.0%12.3%41.5%14.4%0.0%-7.8%3.9%11.5K-434.4K-1.6K0.00113.59N/AN/A0025019
2023-07-27$35.07$35.0060.2%17.3%41.2%34.2%0.0%-6.3%-12.5%11.9K-480.3K-1.6K0.00101.69N/AN/A0025019
2023-07-28$36.90$35.0042.0%12.1%42.9%13.4%67.1%-10.7%17.3%11.9K-574.4K-1.6K0.02103.39N/AN/A55125019
2023-07-31$37.04$35.0047.5%13.6%42.6%19.7%0.0%5.4%12.9%15.8K-613.6K-1.8K0.00108.84N/AN/A52030420