FORM Options History — November 2023

In November 2023, FORM traded between $33.11 and $39.52. ATM implied volatility averaged 52.6%, placing in the 31.6% IV rank vs the trailing year. The 30-day expected move averaged 14.3%. IV traded above realized volatility by 6.3% (HV 20d: 46.3%). Max pain ranged from $25.00 to $30.00. Net GEX was positive for 17 of 21 trading days. Term structure was in contango for 1 of 21 days. Put/call ratio averaged 0.70.

Notable Days

  • 2023-11-01: Highest Volume — 500 contracts
  • 2023-11-27: Largest IV spike — 44.0% change
  • 2023-11-01: Highest IV Rank — 56.0%
  • 2023-11-01: Largest Expected Move — 20.0%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$36.87$33.11$39.52$33.49$37.34
Max Pain$29.76$25.00$30.00$25.00$30.00
ATM IV52.6%39.5%69.7%69.7%53.7%
Expected Move14.3%10.4%20.0%20.0%15.4%
HV 20d46.3%31.4%54.4%36.0%51.2%
HV 60d42.9%39.0%46.3%39.4%42.6%
IV Rank31.6%13.0%56.0%56.0%33.1%
IV Percentile52.5%8.7%91.3%91.3%61.9%
Term Structure-13.7%-39.2%8.5%-12.5%-5.3%
VWIV61.4%36.5%177.1%94.8%177.1%
Skew 25d10.6%-17.9%57.3%27.8%12.2%
Skew 10d14.6%-17.3%65.1%65.1%15.7%
Call IV 25d46.5%36.0%64.8%64.8%42.6%
Put IV 25d57.1%37.7%95.0%92.6%54.7%
Bid-Ask Spread %92.2863.21123.2999.84101.52
Gamma HHI0.350.280.570.340.34
Net GEX8.5K-19.9K16.7K9.3K14.2K
Net DEX-580.5K-892.8K-42.7K-393.4K-542.8K
Net VEX-1.9K-2.6K-1.4K-1.4K-1.7K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.700.0010.6310.630.29
Total Volume36.04805005009
Total OI609.524255849255382

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2023-11-01$33.49$25.0069.7%20.0%36.0%56.0%94.8%27.8%-12.5%9.3K-393.4K-1.4K10.6399.84N/AN/A4345723322
2023-11-02$33.11$30.0064.7%10.4%34.2%48.9%0.0%-3.8%-1.2%-19.9K-42.7K-2.6K1.0093.04N/AN/A22269479
2023-11-03$33.61$30.0065.4%15.2%31.4%49.8%36.5%-1.1%-28.0%-11.8K-164.0K-2.5K0.0093.44N/AN/A70269478
2023-11-06$34.84$30.0062.1%16.5%34.1%45.1%0.0%12.1%-33.6%-2.7K-351.9K-2.1K0.0093.25N/AN/A00275478
2023-11-07$36.08$30.0058.1%13.9%36.2%39.5%0.0%18.7%8.5%5.3K-462.6K-1.9K0.0098.05N/AN/A20275478
2023-11-08$35.89$30.0042.4%12.1%36.0%17.1%41.4%9.4%-1.2%12.8K-514.7K-1.7K0.2787.38N/AN/A113275478
2023-11-09$34.23$30.0053.1%15.2%39.1%32.4%0.0%4.9%-20.3%-1.6K-328.4K-1.8K0.50106.14N/AN/A21276480
2023-11-10$37.84$30.0052.5%15.1%51.3%31.5%48.1%14.4%-24.4%12.1K-628.9K-1.7K0.4796.88N/AN/A178274481
2023-11-13$37.16$30.0057.6%16.5%52.0%38.7%47.4%15.5%-19.2%11.1K-597.0K-1.8K0.00103.80N/AN/A160282486
2023-11-14$38.97$30.0039.5%11.3%54.1%13.0%39.7%-17.9%-3.5%12.6K-759.1K-1.6K0.00100.63N/AN/A230290486
2023-11-15$38.34$30.0047.3%13.6%54.4%24.1%0.0%57.3%-33.9%15.4K-725.5K-1.8K0.00109.86N/AN/A130308486
2023-11-16$38.59$30.0054.1%15.5%52.3%33.8%57.9%14.7%-20.1%16.7K-758.5K-1.8K0.00101.73N/AN/A50316486
2023-11-17$38.36$30.0045.3%13.0%51.9%21.3%45.4%9.8%-3.3%12.0K-892.8K-1.8K0.2074.04N/AN/A51363486
2023-11-20$39.52$30.0045.1%12.9%51.2%20.9%43.9%9.4%-5.8%13.6K-837.3K-1.7K0.0063.21N/AN/A770300112
2023-11-21$38.45$30.0043.3%12.4%52.8%18.4%42.9%9.1%-0.3%14.4K-779.8K-1.9K0.0068.88N/AN/A60314112
2023-11-22$38.12$30.0043.9%12.6%51.0%19.3%0.0%7.8%-2.2%14.0K-742.1K-1.9K0.0069.64N/AN/A10311112
2023-11-24$38.00$30.0039.8%11.4%50.9%13.5%0.0%-1.5%-0.8%13.5K-719.5K-1.9K0.0088.91N/AN/A00310112
2023-11-27$37.94$30.0057.4%16.4%50.4%38.4%0.0%20.7%-23.0%13.5K-719.5K-1.8K0.0067.77N/AN/A20310112
2023-11-28$37.14$30.0054.9%15.7%51.4%34.9%177.1%2.0%-19.4%12.7K-685.4K-1.8K0.0096.59N/AN/A420311112
2023-11-29$37.34$30.0054.6%15.7%51.2%34.5%0.0%1.3%-39.2%11.6K-544.2K-1.8K0.00123.29N/AN/A20269112
2023-11-30$37.34$30.0053.7%15.4%51.2%33.1%0.0%12.2%-5.3%14.2K-542.8K-1.7K0.29101.52N/AN/A72270112