FORM Options History — October 2023

In October 2023, FORM traded between $31.76 and $35.05. ATM implied volatility averaged 59.8%, placing in the 41.9% IV rank vs the trailing year. The 30-day expected move averaged 16.4%. IV traded above realized volatility by 21.0% (HV 20d: 38.8%). Max pain ranged from $25.00 to $30.00. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 4 of 22 days. Put/call ratio averaged 0.25.

Notable Days

  • 2023-10-19: Highest Volume — 129 contracts
  • 2023-10-05: Largest IV spike — 53.4% change
  • 2023-10-05: Highest IV Rank — 81.6%
  • 2023-10-03: Largest Expected Move — 24.6%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$33.67$31.76$35.05$33.61$33.50
Max Pain$25.68$25.00$30.00$30.00$25.00
ATM IV59.8%39.4%87.8%76.4%55.4%
Expected Move16.4%11.3%24.6%21.9%15.9%
HV 20d38.8%34.2%43.4%40.2%36.7%
HV 60d40.3%39.3%42.0%41.9%39.5%
IV Rank41.9%12.9%81.6%65.5%35.7%
IV Percentile67.0%8.3%99.6%98.0%67.5%
Term Structure-10.9%-37.9%13.5%-35.7%-15.4%
VWIV64.1%46.1%72.0%46.1%72.0%
Skew 25d18.4%-11.1%56.8%37.1%56.4%
Skew 10d28.0%-19.4%68.7%10.4%32.1%
Call IV 25d59.3%41.1%83.4%46.2%63.1%
Put IV 25d77.7%53.0%119.6%83.3%119.6%
Bid-Ask Spread %92.4770.42114.07108.2785.33
Gamma HHI0.480.310.800.420.36
Net GEX18.0K8.8K39.0K15.4K9.8K
Net DEX-444.3K-559.6K-317.0K-475.5K-364.3K
Net VEX-1.2K-1.4K-902-1.3K-1.3K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.250.001.400.001.40
Total Volume13.0910129012
Total OI303.727232399319248

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2023-10-02$33.61$30.0076.4%21.9%40.2%65.5%0.0%37.1%-35.7%15.4K-475.5K-1.3K0.00108.27N/AN/A0029425
2023-10-03$33.77$30.0085.8%24.6%40.2%78.8%0.0%56.8%-37.9%15.2K-486.5K-1.3K0.00110.91N/AN/A0029425
2023-10-04$34.40$30.0057.2%16.4%40.6%38.2%0.0%53.7%-16.7%17.9K-504.9K-1.2K0.00107.47N/AN/A2029425
2023-10-05$33.27$25.0087.8%17.2%41.5%81.6%0.0%-0.9%-18.7%15.1K-521.8K-1.2K0.00114.07N/AN/A0029625
2023-10-06$34.61$25.0061.7%12.1%43.4%44.5%46.1%6.8%4.9%19.8K-507.7K-1.2K0.00106.98N/AN/A3029625
2023-10-09$34.42$25.0074.8%16.0%42.1%63.2%0.0%-1.1%-18.4%18.5K-537.1K-1.1K0.0080.75N/AN/A0029825
2023-10-10$34.56$25.0055.6%18.3%42.1%35.8%0.0%4.8%-10.6%22.4K-513.1K-1.1K0.0091.09N/AN/A0029825
2023-10-11$34.22$25.0051.7%14.8%41.9%30.4%0.0%-1.5%-0.8%25.3K-489.6K-1.1K0.0089.51N/AN/A0329825
2023-10-12$35.05$25.0070.2%20.1%42.5%56.7%0.0%17.0%-19.6%22.7K-542.2K-1.1K0.0091.57N/AN/A23029822
2023-10-13$33.89$25.0071.2%20.4%39.2%58.1%0.0%1.9%-13.2%16.9K-487.6K-1.1K0.0093.00N/AN/A4031522
2023-10-16$34.27$25.0055.8%16.0%34.3%36.2%0.0%7.5%10.7%27.5K-452.8K-9190.0096.37N/AN/A12031822
2023-10-17$34.23$25.0062.6%18.0%34.2%45.9%0.0%-11.1%-4.9%30.4K-457.0K-9020.00100.84N/AN/A25032022
2023-10-18$35.00$25.0051.1%14.6%34.9%29.5%0.0%25.0%-2.6%39.0K-559.6K-1.0K0.0090.88N/AN/A15032322
2023-10-19$33.78$25.0057.4%16.5%36.8%38.5%64.2%19.7%-22.1%33.3K-387.4K-1.0K0.0189.89N/AN/A128132022
2023-10-20$33.27$25.0042.0%12.0%37.2%16.6%0.0%11.6%4.0%9.3K-420.6K-1.4K1.00100.72N/AN/A1137623
2023-10-23$32.52$25.0053.9%15.5%38.0%33.6%70.3%39.4%-14.1%8.8K-343.2K-1.4K0.0070.42N/AN/A2402257
2023-10-24$33.05$25.0039.4%11.3%38.3%12.9%0.0%6.2%-2.2%10.2K-364.4K-1.4K0.0074.52N/AN/A302337
2023-10-25$31.99$25.0053.4%15.3%39.2%32.7%0.0%23.6%-9.5%9.2K-320.3K-1.3K0.0076.96N/AN/A002347
2023-10-26$31.76$25.0061.3%17.6%36.2%44.0%0.0%24.3%-8.2%9.2K-317.0K-1.3K0.0086.29N/AN/A102357
2023-10-27$32.73$25.0040.5%11.6%38.3%14.4%67.3%23.2%13.5%9.6K-357.8K-1.3K1.0095.39N/AN/A112357
2023-10-30$32.88$25.0051.2%14.7%36.1%29.7%64.9%4.7%-22.5%9.8K-364.0K-1.4K0.3373.24N/AN/A2172368
2023-10-31$33.50$25.0055.4%15.9%36.7%35.7%72.0%56.4%-15.4%9.8K-364.3K-1.3K1.4085.33N/AN/A5723315