FORM Options History — April 2024

In April 2024, FORM traded between $40.30 and $47.48. ATM implied volatility averaged 50.1%, placing in the 28.1% IV rank vs the trailing year. The 30-day expected move averaged 14.7%. IV traded above realized volatility by 12.3% (HV 20d: 37.8%). Max pain ranged from $35.00 to $45.00. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 5 of 22 days. Put/call ratio averaged 1.80.

Notable Days

  • 2024-04-17: Highest Volume — 103 contracts
  • 2024-04-10: Largest IV spike — 30.0% change
  • 2024-04-22: Highest IV Rank — 48.8%
  • 2024-04-22: Largest Expected Move — 18.5%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$44.37$40.30$47.48$46.03$45.29
Max Pain$42.50$35.00$45.00$35.00$40.00
ATM IV50.1%36.3%64.7%36.3%60.9%
Expected Move14.7%10.4%18.5%10.4%17.5%
HV 20d37.8%32.1%41.9%34.5%41.2%
HV 60d46.4%45.6%47.6%45.9%45.6%
IV Rank28.1%8.5%48.8%8.5%43.5%
IV Percentile52.5%4.8%88.9%4.8%83.3%
Term Structure-5.6%-31.2%18.3%8.0%-14.8%
VWIV52.6%38.7%71.0%38.7%63.6%
Skew 25d2.7%-13.0%9.9%-0.5%2.8%
Skew 10d3.5%-24.3%13.5%5.6%-9.9%
Call IV 25d51.0%37.9%66.8%37.9%65.4%
Put IV 25d53.8%37.5%68.2%37.5%68.2%
Bid-Ask Spread %74.7462.2389.7078.4977.83
Gamma HHI0.400.340.480.360.47
Net GEX29.4K12.9K38.8K38.8K30.7K
Net DEX-1.1M-1.7M-324.0K-1.5M-1.1M
Net VEX-4.5K-4.9K-3.9K-4.5K-4.7K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.800.0020.000.003.67
Total Volume3011032414
Total OI826.909712948758796

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2024-04-01$46.03$35.0036.3%10.4%34.5%8.5%38.7%-0.5%8.0%38.8K-1.5M-4.5K0.0078.49N/AN/A240589169
2024-04-02$45.11$35.0037.6%10.8%35.0%10.4%41.5%2.2%10.3%36.0K-1.3M-4.4K7.2777.08N/AN/A1180592169
2024-04-03$46.16$35.0041.4%11.9%35.8%15.8%0.0%-0.9%7.1%30.1K-1.3M-4.9K0.0086.88N/AN/A100590249
2024-04-04$45.33$45.0048.5%16.4%36.5%25.8%0.0%7.8%-10.2%28.0K-1.3M-4.9K0.5389.70N/AN/A1910600249
2024-04-05$46.23$45.0037.5%15.1%35.0%10.1%49.5%4.0%-14.8%34.4K-1.4M-4.7K2.2289.20N/AN/A920600239
2024-04-08$47.00$45.0043.7%11.7%32.2%19.0%39.3%3.7%18.3%34.7K-1.6M-4.6K0.0081.11N/AN/A290604229
2024-04-09$47.48$45.0039.1%13.2%32.1%12.4%50.8%1.4%4.5%33.6K-1.7M-4.6K0.0079.20N/AN/A130621229
2024-04-10$45.14$45.0050.7%14.6%37.4%29.0%49.9%3.7%-5.3%35.5K-1.3M-4.6K0.0069.86N/AN/A140626229
2024-04-11$45.94$45.0048.7%14.0%37.5%26.1%0.0%0.6%-6.1%36.7K-1.4M-4.5K0.2065.18N/AN/A102626229
2024-04-12$44.50$45.0047.3%13.6%39.0%24.2%71.0%-13.0%-3.3%36.6K-1.2M-4.5K20.0064.75N/AN/A240636229
2024-04-15$43.78$45.0052.1%14.9%39.5%30.9%0.0%6.5%-7.9%33.4K-1.1M-4.3K0.0068.75N/AN/A20638249
2024-04-16$44.56$45.0057.6%16.5%39.8%38.8%52.7%-0.1%-9.6%38.8K-1.2M-4.2K0.0076.04N/AN/A50638249
2024-04-17$43.29$45.0057.3%16.4%39.3%38.3%54.0%2.9%-13.0%28.8K-990.1K-4.1K0.0069.74N/AN/A1030639249
2024-04-18$42.38$45.0051.7%14.8%40.0%30.3%61.2%2.3%-5.3%22.6K-887.2K-4.4K0.4768.13N/AN/A6028679249
2024-04-19$40.91$45.0050.4%14.5%37.5%28.6%50.3%1.0%-3.9%13.3K-665.3K-4.1K0.0071.30N/AN/A120671277
2024-04-22$40.30$45.0064.7%18.5%37.2%48.8%53.9%7.1%-31.2%12.9K-324.0K-3.9K0.1867.77N/AN/A173508205
2024-04-23$41.52$45.0052.5%15.0%38.7%31.5%47.1%3.7%-10.1%15.7K-468.0K-4.1K0.0073.33N/AN/A590505207
2024-04-24$41.64$40.0052.7%15.1%38.8%31.8%0.0%6.9%-9.5%19.4K-554.4K-4.2K0.0075.60N/AN/A01564207
2024-04-25$43.79$40.0054.5%15.6%41.6%34.4%54.9%9.9%-8.1%25.3K-869.8K-4.6K0.3062.23N/AN/A237564208
2024-04-26$44.59$40.0056.2%16.1%41.6%36.7%55.1%5.5%-5.2%29.5K-1.0M-4.7K0.0073.39N/AN/A170580210
2024-04-29$45.27$40.0060.4%17.3%41.9%42.7%61.1%2.6%-13.0%31.6K-1.1M-4.7K3.0078.70N/AN/A412586210
2024-04-30$45.29$40.0060.9%17.5%41.2%43.5%63.6%2.8%-14.8%30.7K-1.1M-4.7K3.6777.83N/AN/A311586210