FORM Options History — August 2023

In August 2023, FORM traded between $30.05 and $37.10. ATM implied volatility averaged 44.6%, placing in the 16.3% IV rank vs the trailing year. The 30-day expected move averaged 12.4%. IV traded above realized volatility by 6.4% (HV 20d: 38.1%). Max pain ranged from $30.00 to $45.00. Net GEX was positive for 10 of 23 trading days. Term structure was in contango for 11 of 23 days. Put/call ratio averaged 1.43.

Notable Days

  • 2023-08-01: Highest Volume — 1,326 contracts
  • 2023-08-03: Largest IV drop — 43.5% change
  • 2023-08-02: Highest IV Rank — 54.1%
  • 2023-08-02: Largest Expected Move — 22.3%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$32.88$30.05$37.10$37.10$35.50
Max Pain$35.00$30.00$45.00$35.00$30.00
ATM IV44.6%33.1%77.6%70.5%40.5%
Expected Move12.4%9.5%22.3%20.2%11.6%
HV 20d38.1%29.1%45.4%41.6%45.0%
HV 60d40.2%38.8%42.0%40.5%41.6%
IV Rank16.3%3.1%54.1%46.0%11.6%
IV Percentile25.0%0.8%98.8%95.6%11.1%
Term Structure-0.1%-23.4%23.3%-16.2%-7.9%
VWIV49.4%31.9%84.5%76.7%31.9%
Skew 25d5.1%-37.4%32.8%17.9%-14.0%
Skew 10d16.8%-6.3%44.9%32.5%-6.3%
Call IV 25d47.2%28.0%67.6%57.2%55.2%
Put IV 25d52.3%30.2%83.1%75.2%41.2%
Bid-Ask Spread %108.8385.02123.6185.02113.60
Gamma HHI0.520.290.920.290.45
Net GEX-52.3K-186.4K17.6K17.6K17.0K
Net DEX519.6K-688.6K2.1M-646.8K-688.6K
Net VEX-2.3K-4.8K-1.2K-1.9K-1.5K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.430.009.619.610.10
Total Volume122.08701,3261,32611
Total OI1,179.8263711,748371563

Daily Data (23 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2023-08-01$37.10$35.0070.5%20.2%41.6%46.0%76.7%17.9%-16.2%17.6K-646.8K-1.9K9.6185.02N/AN/A1251,20135120
2023-08-02$35.98$35.0077.6%22.3%42.2%54.1%84.5%32.8%-23.4%-47.9K330.4K-4.8K0.08106.94N/AN/A1214661,221
2023-08-03$35.41$45.0043.9%11.7%41.5%15.5%0.0%23.1%-0.3%-95.9K473.9K-3.8K6.00101.99N/AN/A3184761,222
2023-08-04$34.22$45.0045.5%10.8%43.8%17.3%0.0%8.4%3.1%-97.1K977.8K-4.0K0.50101.81N/AN/A214771,240
2023-08-07$34.63$45.0051.7%10.8%43.8%24.5%0.0%15.1%-0.9%-102.1K518.2K-3.3K0.00101.31N/AN/A004771,239
2023-08-08$34.13$45.0045.4%11.6%44.2%17.2%0.0%20.4%5.3%-110.3K967.0K-3.3K0.00104.12N/AN/A004771,239
2023-08-09$33.99$45.0044.0%12.6%38.8%15.7%0.0%12.3%-3.2%-113.4K999.6K-3.3K0.00104.51N/AN/A004771,239
2023-08-10$33.23$45.0036.9%10.6%35.5%7.5%0.0%4.8%-4.5%-113.1K1.3M-2.9K0.03108.73N/AN/A5824771,239
2023-08-11$31.86$45.0040.0%11.5%37.7%11.0%44.7%0.9%-0.1%-96.4K1.7M-3.1K1.38123.61N/AN/A13185071,241
2023-08-14$31.74$30.0044.7%12.8%35.6%16.5%0.0%4.7%11.4%-102.8K1.8M-2.6K0.00115.47N/AN/A015081,225
2023-08-15$31.28$30.0044.0%12.6%35.6%15.6%0.0%3.4%23.3%-104.1K1.9M-2.3K0.00109.20N/AN/A1005081,225
2023-08-16$30.77$30.0043.2%12.4%35.8%14.8%0.0%-2.2%-3.7%-106.3K2.1M-1.9K0.00111.59N/AN/A01,2004981,225
2023-08-17$30.05$30.0045.7%13.1%34.5%17.6%0.0%22.6%-4.4%-76.5K1.8M-1.6K0.00113.54N/AN/A00498968
2023-08-18$30.31$30.0044.0%12.6%34.6%15.6%0.0%-1.7%2.3%-186.4K1.7M-1.3K0.00109.53N/AN/A00498968
2023-08-21$30.50$30.0033.1%9.5%34.5%3.1%32.9%-5.7%15.3%10.8K-272.9K-1.2K0.8496.79N/AN/A433645821
2023-08-22$31.14$30.0043.7%12.5%35.7%15.3%0.0%-37.4%-13.4%16.0K-365.4K-1.6K0.00113.54N/AN/A0050052
2023-08-23$31.75$30.0036.2%10.4%36.7%6.7%35.9%3.5%7.2%13.9K-406.7K-1.5K0.00115.27N/AN/A5050052
2023-08-24$30.98$30.0038.3%11.0%35.4%9.1%32.1%-15.5%9.2%13.8K-349.7K-1.5K0.00114.48N/AN/A1050552
2023-08-25$31.44$30.0045.2%13.0%29.5%17.0%0.0%2.3%-14.2%14.2K-380.4K-1.5K0.00115.71N/AN/A0050452
2023-08-28$31.16$30.0039.1%11.2%29.1%10.0%0.0%3.7%5.3%14.1K-361.3K-1.5K0.00116.81N/AN/A0050452
2023-08-29$33.47$30.0034.7%9.9%40.7%5.0%56.7%13.5%7.8%15.3K-532.8K-1.5K0.00106.22N/AN/A5050452
2023-08-30$35.50$30.0036.9%10.6%45.4%7.5%0.0%3.8%0.0%17.2K-683.3K-1.5K0.00113.19N/AN/A42050752
2023-08-31$35.50$30.0040.5%11.6%45.0%11.6%31.9%-14.0%-7.9%17.0K-688.6K-1.5K0.10113.60N/AN/A10151152