FORM Options History — September 2024

In September 2024, FORM traded between $41.49 and $46.91. ATM implied volatility averaged 47.7%, placing in the 34.1% IV rank vs the trailing year. The 30-day expected move averaged 12.9%. IV traded below realized volatility by 2.4% (HV 20d: 50.0%). Max pain ranged from $25.00 to $40.00. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 15 of 20 days. Put/call ratio averaged 0.26.

Notable Days

  • 2024-09-04: Highest Volume — 103 contracts
  • 2024-09-06: Largest IV spike — 37.0% change
  • 2024-09-09: Highest IV Rank — 79.2%
  • 2024-09-06: Largest Expected Move — 18.6%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$43.91$41.49$46.91$44.61$45.95
Max Pain$34.50$25.00$40.00$40.00$25.00
ATM IV47.7%36.3%84.6%48.8%43.1%
Expected Move12.9%10.4%18.6%14.0%12.4%
HV 20d50.0%45.3%53.4%52.6%50.5%
HV 60d64.9%64.0%66.3%64.5%66.3%
IV Rank34.1%19.4%79.2%32.8%29.6%
IV Percentile43.5%10.7%98.4%52.4%38.9%
Term Structure6.9%-18.9%34.9%1.3%7.8%
VWIV55.7%37.1%102.0%45.8%44.8%
Skew 25d7.2%-0.9%18.9%10.8%-0.9%
Skew 10d4.6%-13.9%50.5%20.9%-13.3%
Call IV 25d39.2%22.3%55.9%43.3%39.9%
Put IV 25d46.4%32.6%66.8%54.1%39.0%
Bid-Ask Spread %101.4090.88112.30112.3091.51
Gamma HHI0.220.190.260.230.25
Net GEX59.9K43.7K77.7K67.8K59.0K
Net DEX-1.0M-1.4M-690.0K-1.0M-1.1M
Net VEX-7.8K-9.9K-6.6K-8.9K-7.3K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.260.001.110.080.00
Total Volume190103132
Total OI3,008.752,8863,0952,9462,886

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2024-09-03$44.61$40.0048.8%14.0%52.6%32.8%45.8%10.8%1.3%67.8K-1.0M-8.9K0.08112.30N/AN/A1212,691255
2024-09-04$44.43$40.0042.4%12.1%52.1%24.5%42.2%5.7%2.1%65.6K-1.2M-9.9K0.02104.66N/AN/A10122,700255
2024-09-05$43.80$40.0049.1%14.3%52.1%33.2%0.0%3.4%0.4%73.0K-1.3M-9.5K0.0095.52N/AN/A0152,797257
2024-09-06$42.15$40.0067.3%18.6%52.9%56.7%79.5%10.9%-16.1%57.7K-850.2K-8.1K0.0090.88N/AN/A0182,797270
2024-09-09$41.49$40.0084.6%14.3%53.1%79.2%47.1%18.9%-1.6%50.7K-690.0K-7.5K1.00109.75N/AN/A222,797284
2024-09-10$42.07$40.0072.3%15.7%53.4%63.2%87.6%7.1%-18.9%57.6K-802.0K-7.8K0.00107.57N/AN/A0152,798284
2024-09-11$43.66$40.0049.5%14.2%50.9%39.2%49.0%4.3%-0.2%65.4K-942.4K-7.8K0.5897.20N/AN/A1272,798296
2024-09-12$42.82$40.0036.6%10.5%50.8%19.9%0.0%5.0%23.7%60.0K-892.9K-7.7K0.0099.16N/AN/A002,798297
2024-09-13$43.98$40.0046.4%13.3%47.7%34.6%102.0%10.8%3.4%68.3K-1.2M-8.1K0.4097.96N/AN/A522,798287
2024-09-16$42.39$40.0051.7%14.8%48.7%42.7%0.0%-0.4%-12.2%56.0K-730.4K-6.6K0.0096.75N/AN/A0232,798288
2024-09-17$43.05$35.0046.4%13.3%48.4%34.6%49.0%8.6%3.7%62.0K-1.0M-7.4K1.1195.94N/AN/A9102,798273
2024-09-18$43.39$35.0040.6%11.6%48.5%25.9%64.3%9.9%14.4%66.4K-1.2M-7.9K0.17111.42N/AN/A612,797273
2024-09-19$44.97$30.0044.6%12.8%49.5%31.9%43.1%6.1%7.2%77.7K-1.4M-7.6K0.05105.37N/AN/A4422,801274
2024-09-20$43.78$30.0037.3%10.7%49.4%20.9%51.1%-0.3%34.9%50.8K-1.0M-7.1K0.00104.55N/AN/A062,802274
2024-09-23$43.95$35.0037.3%10.7%47.3%20.9%37.7%5.0%18.5%43.7K-887.2K-7.1K0.0095.54N/AN/A4602,630259
2024-09-24$44.38$25.0039.7%11.4%46.6%24.6%55.5%17.2%19.5%48.1K-942.0K-7.0K0.00106.02N/AN/A902,643249
2024-09-25$44.16$25.0036.3%10.4%45.3%19.4%0.0%3.8%18.1%45.9K-877.5K-6.7K0.00100.77N/AN/A012,643249
2024-09-26$46.91$25.0039.3%11.3%50.4%24.0%37.1%17.2%19.3%63.0K-1.4M-8.2K0.00101.82N/AN/A1502,643250
2024-09-27$46.16$25.0040.1%11.5%50.6%25.1%44.8%1.3%12.1%59.0K-1.3M-7.6K0.00103.29N/AN/A1202,636250
2024-09-30$45.95$25.0043.1%12.4%50.5%29.6%0.0%-0.9%7.8%59.0K-1.1M-7.3K0.0091.51N/AN/A202,636250