FORM Options History — May 2024

In May 2024, FORM traded between $44.00 and $59.78. ATM implied volatility averaged 34.8%, placing in the 12.7% IV rank vs the trailing year. The 30-day expected move averaged 10.2%. IV traded below realized volatility by 28.5% (HV 20d: 63.3%). Max pain ranged from $40.00 to $55.00. Net GEX was positive for 20 of 22 trading days. Term structure was in contango for 14 of 22 days. Put/call ratio averaged 0.44.

Notable Days

  • 2024-05-29: Highest Volume — 333 contracts
  • 2024-05-08: Largest IV spike — 65.2% change
  • 2024-05-01: Highest IV Rank — 34.2%
  • 2024-05-01: Largest Expected Move — 15.6%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$55.58$44.00$59.78$44.00$53.99
Max Pain$50.45$40.00$55.00$40.00$55.00
ATM IV34.8%23.4%54.4%54.4%43.3%
Expected Move10.2%8.6%15.6%15.6%12.4%
HV 20d63.3%39.6%71.2%41.5%39.6%
HV 60d50.3%46.0%55.9%46.0%49.9%
IV Rank12.7%0.0%34.2%34.2%25.7%
IV Percentile11.2%0.0%69.4%69.4%34.9%
Term Structure1.1%-10.3%12.8%-8.4%-1.8%
VWIV36.4%27.6%61.9%61.9%41.3%
Skew 25d1.6%-15.9%15.4%8.2%5.0%
Skew 10d0.2%-15.7%15.3%5.9%4.0%
Call IV 25d32.6%17.3%59.9%59.9%32.8%
Put IV 25d34.2%24.4%68.1%68.1%37.9%
Bid-Ask Spread %98.3674.11112.7974.11108.03
Gamma HHI0.340.230.580.470.23
Net GEX35.7K-26.5K81.4K27.5K81.4K
Net DEX-2.8M-3.6M-894.3K-894.3K-2.9M
Net VEX-5.4K-11.7K-3.5K-4.5K-11.0K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.440.003.000.250.14
Total Volume75.95573335558
Total OI1,029.4557341,2948091,294

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2024-05-01$44.00$40.0054.4%15.6%41.5%34.2%61.9%8.2%-8.4%27.5K-894.3K-4.5K0.2574.11N/AN/A4411588221
2024-05-02$51.40$40.0037.9%10.9%69.3%10.7%37.9%-0.6%-1.6%47.7K-2.3M-4.2K0.7396.74N/AN/A143104621231
2024-05-03$54.14$45.0030.3%8.7%71.0%0.0%30.4%5.8%12.8%46.6K-2.8M-4.4K0.29103.39N/AN/A13640686306
2024-05-06$54.75$50.0034.5%10.9%71.0%5.9%36.2%4.1%7.4%37.2K-3.0M-5.1K0.5386.91N/AN/A1910743346
2024-05-07$56.12$50.0025.6%9.5%71.2%0.0%32.8%12.9%-0.1%31.4K-3.2M-4.4K1.4186.97N/AN/A3752743356
2024-05-08$56.01$50.0042.3%9.1%67.9%22.3%0.0%13.4%0.7%16.2K-3.1M-4.5K0.6088.55N/AN/A53735403
2024-05-09$56.78$50.0027.3%9.1%67.9%2.2%34.4%15.4%1.5%17.4K-3.3M-4.0K0.4091.85N/AN/A52736404
2024-05-10$56.09$50.0030.9%8.6%66.6%7.0%29.8%13.4%3.1%18.5K-3.1M-4.5K1.3387.55N/AN/A68740405
2024-05-13$55.03$50.0035.6%8.9%66.7%13.3%0.0%-5.1%3.4%10.4K-2.9M-4.3K0.1092.10N/AN/A101735411
2024-05-14$55.02$50.0023.4%11.4%66.8%0.0%39.4%13.4%-7.5%-26.5K-2.9M-4.2K0.1492.47N/AN/A71734412
2024-05-15$54.80$50.0031.3%9.0%65.4%10.1%35.8%-2.9%2.0%-17.5K-2.8M-4.3K0.03103.34N/AN/A331739413
2024-05-16$54.00$50.0036.9%10.6%65.0%17.4%34.2%0.5%-0.4%13.7K-2.6M-4.8K3.00111.40N/AN/A39757413
2024-05-17$55.59$50.0035.4%10.1%62.8%15.5%28.9%-5.2%-2.2%43.3K-3.2M-4.4K0.10105.85N/AN/A101757419
2024-05-20$57.46$50.0030.4%8.7%62.0%9.0%0.0%-12.2%3.5%44.5K-2.4M-4.0K0.00111.17N/AN/A90577161
2024-05-21$58.34$50.0034.8%10.0%61.9%14.8%59.0%-7.1%0.4%42.4K-2.6M-3.9K0.00112.79N/AN/A290574161
2024-05-22$59.78$55.0031.2%8.9%61.7%10.1%30.3%1.9%1.9%40.5K-2.8M-3.5K0.0199.84N/AN/A1642573161
2024-05-23$58.31$55.0031.7%9.1%62.2%10.6%31.8%-9.2%2.9%52.6K-2.9M-5.5K0.25105.11N/AN/A5714684163
2024-05-24$58.48$55.0039.2%11.2%62.4%20.4%0.0%-9.2%1.3%51.2K-2.9M-6.0K0.0398.24N/AN/A361718177
2024-05-28$58.50$55.0031.9%9.1%62.5%10.9%0.0%-15.9%7.1%54.9K-2.9M-6.0K0.01102.47N/AN/A2183753177
2024-05-29$56.86$55.0035.4%10.1%64.1%15.4%27.9%-2.6%-10.3%72.9K-3.1M-8.9K0.00110.62N/AN/A3330957180
2024-05-30$57.20$55.0041.8%12.0%62.4%23.7%27.6%12.1%8.7%80.1K-3.6M-11.7K0.3594.51N/AN/A34121,104180
2024-05-31$53.99$55.0043.3%12.4%39.6%25.7%41.3%5.0%-1.8%81.4K-2.9M-11.0K0.14108.03N/AN/A5171,126168