FORM Options History — February 2024

In February 2024, FORM traded between $37.97 and $43.11. ATM implied volatility averaged 49.3%, placing in the 26.9% IV rank vs the trailing year. The 30-day expected move averaged 12.9%. IV traded below realized volatility by 5.1% (HV 20d: 54.3%). Max pain ranged from $40.00 to $45.00. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 7 of 20 days. Put/call ratio averaged 0.96.

Notable Days

  • 2024-02-07: Highest Volume — 194 contracts
  • 2024-02-12: Largest IV spike — 78.2% change
  • 2024-02-06: Highest IV Rank — 67.5%
  • 2024-02-07: Largest Expected Move — 17.8%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$40.87$37.97$43.11$39.31$43.04
Max Pain$40.50$40.00$45.00$45.00$40.00
ATM IV49.3%30.4%77.8%65.8%35.3%
Expected Move12.9%8.7%17.8%14.0%10.1%
HV 20d54.3%42.1%63.2%43.0%58.8%
HV 60d42.6%36.4%46.1%43.0%46.1%
IV Rank26.9%0.1%67.5%50.5%7.0%
IV Percentile41.3%0.4%97.6%90.5%2.4%
Term Structure-2.3%-25.3%6.7%-4.1%5.0%
VWIV45.1%31.2%66.0%49.0%43.2%
Skew 25d5.6%-4.3%26.6%3.8%4.5%
Skew 10d10.7%-15.7%48.9%8.1%39.2%
Call IV 25d43.0%36.6%51.9%48.7%38.9%
Put IV 25d48.6%39.2%70.5%52.6%43.5%
Bid-Ask Spread %88.6267.21110.3267.2191.61
Gamma HHI0.340.240.430.240.40
Net GEX22.6K13.8K40.0K15.2K23.5K
Net DEX-689.2K-1.0M-416.6K-502.8K-762.8K
Net VEX-2.5K-2.8K-2.1K-2.3K-2.7K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.960.0010.0010.001.50
Total Volume34.90194115
Total OI525.15399673399498

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2024-02-01$39.31$45.0065.8%14.0%43.0%50.5%0.0%3.8%-4.1%15.2K-502.8K-2.3K10.0067.21N/AN/A11032772
2024-02-02$39.38$45.0068.2%14.1%42.8%53.8%49.0%16.1%-6.1%14.7K-509.4K-2.2K0.0072.27N/AN/A15032681
2024-02-05$39.48$40.0075.1%14.6%42.1%63.6%0.0%4.0%-4.9%15.8K-530.1K-2.3K0.0069.81N/AN/A3034181
2024-02-06$37.97$40.0077.8%14.9%43.5%67.5%54.7%3.6%-4.3%13.8K-416.6K-2.1K0.5774.66N/AN/A603434181
2024-02-07$38.16$40.0062.0%17.8%43.6%45.0%66.0%6.1%-25.3%15.0K-454.0K-2.4K0.4178.00N/AN/A13856386114
2024-02-08$39.12$40.0043.9%12.6%44.4%19.3%0.0%3.7%6.7%24.1K-689.3K-2.8K0.17110.32N/AN/A7112497161
2024-02-09$42.80$40.0030.4%8.7%54.1%0.1%37.8%3.0%1.7%40.0K-1.0M-2.6K0.4390.36N/AN/A5825463149
2024-02-12$41.90$40.0054.2%15.5%54.9%33.9%47.5%26.6%-2.2%33.1K-904.7K-2.8K0.08100.58N/AN/A131476172
2024-02-13$40.14$40.0041.8%12.0%57.2%16.3%39.7%3.3%-0.2%28.1K-687.4K-2.5K0.0083.97N/AN/A70486172
2024-02-14$42.43$40.0038.9%11.1%59.8%12.1%44.6%-4.3%6.7%37.5K-994.5K-2.8K0.0086.58N/AN/A160488175
2024-02-15$42.54$40.0047.9%13.7%57.8%24.9%46.4%-2.1%-14.1%38.0K-1.0M-2.6K0.3397.82N/AN/A31497175
2024-02-16$42.00$40.0048.6%13.9%55.9%26.0%0.0%13.5%-6.8%20.1K-954.7K-2.5K0.0093.19N/AN/A00498175
2024-02-20$39.64$40.0040.1%11.5%59.0%13.9%40.6%5.4%-0.4%16.1K-498.2K-2.3K0.4994.62N/AN/A351734391
2024-02-21$40.00$40.0039.3%11.3%59.1%12.7%49.1%6.6%1.3%17.3K-500.9K-2.5K0.3096.68N/AN/A206351107
2024-02-22$41.87$40.0046.3%13.3%61.1%22.7%41.2%6.9%-2.8%19.6K-661.5K-2.6K0.00100.31N/AN/A20345111
2024-02-23$41.03$40.0041.7%11.9%61.3%16.1%43.5%6.4%-0.8%18.9K-601.4K-2.5K4.0074.43N/AN/A1040345111
2024-02-26$43.11$40.0038.2%10.9%61.7%11.2%31.2%-1.3%6.2%21.2K-748.3K-2.6K0.0093.39N/AN/A230345131
2024-02-27$41.50$40.0044.3%12.7%63.2%19.8%42.6%1.5%2.7%19.4K-636.4K-2.7K0.0099.32N/AN/A110362131
2024-02-28$41.89$40.0045.6%13.1%63.1%21.7%43.2%4.7%-4.5%20.4K-683.6K-2.7K0.0097.17N/AN/A50367131
2024-02-29$43.04$40.0035.3%10.1%58.8%7.0%0.0%4.5%5.0%23.5K-762.8K-2.7K1.5091.61N/AN/A23367131