FORM Options History — June 2025

In June 2025, FORM traded between $29.98 and $35.25. ATM implied volatility averaged 49.0%, placing in the 31.5% IV rank vs the trailing year. The 30-day expected move averaged 14.3%. IV traded above realized volatility by 4.4% (HV 20d: 44.5%). Max pain ranged from $30.00 to $30.00. Net GEX was positive for 18 of 20 trading days. Term structure was in contango for 15 of 20 days. Put/call ratio averaged 1.87.

Notable Days

  • 2025-06-23: Highest Volume — 369 contracts
  • 2025-06-11: Largest IV spike — 9.0% change
  • 2025-06-20: Highest IV Rank — 37.8%
  • 2025-06-20: Largest Expected Move — 15.1%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$33.52$29.98$35.25$29.98$34.50
Max Pain$30.00$30.00$30.00$30.00$30.00
ATM IV49.0%44.6%52.7%47.8%46.7%
Expected Move14.3%13.4%15.1%13.7%13.4%
HV 20d44.5%41.8%48.5%42.3%41.8%
HV 60d78.9%78.3%79.5%79.0%78.5%
IV Rank31.5%24.5%37.8%29.7%26.5%
IV Percentile35.2%21.4%48.0%32.9%23.4%
Term Structure2.4%-1.4%9.2%3.6%9.2%
VWIV49.1%42.5%56.3%48.2%46.7%
Skew 25d4.5%1.0%6.5%5.9%4.2%
Skew 10d9.0%-4.1%24.2%9.7%6.3%
Call IV 25d47.7%43.2%53.1%45.8%45.7%
Put IV 25d52.2%45.0%56.8%51.7%49.9%
Bid-Ask Spread %63.7133.0382.0944.9445.18
Gamma HHI0.370.270.500.420.44
Net GEX71.4K-28.3K139.9K-28.3K111.0K
Net DEX-2.4M-3.7M331.5K331.5K-3.3M
Net VEX-14.0K-15.2K-12.6K-13.6K-12.9K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.870.0030.000.934.00
Total Volume121.81236929260
Total OI5,431.74,8865,8275,3175,414

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2025-06-02$29.98$30.0047.8%13.7%42.3%29.7%48.2%5.9%3.6%-28.3K331.5K-13.6K0.9344.94N/AN/A15143,6201,697
2025-06-03$31.02$30.0049.1%14.1%44.0%31.8%49.6%1.0%0.7%-13.3K-288.7K-13.9K0.0635.94N/AN/A3523,6311,697
2025-06-04$32.28$30.0050.9%14.6%45.5%34.7%47.6%4.2%-0.0%18.0K-1.3M-14.8K0.0533.03N/AN/A15983,6471,676
2025-06-05$32.37$30.0047.7%14.9%45.4%29.6%49.3%4.5%-1.4%16.7K-1.2M-14.8K0.5078.38N/AN/A843,7391,678
2025-06-06$32.13$30.0047.2%14.7%45.0%28.8%52.6%4.5%-1.0%9.3K-1.2M-14.8K0.0279.13N/AN/A4613,7401,678
2025-06-09$34.07$30.0045.8%13.9%48.5%26.3%48.6%4.0%0.2%72.3K-2.7M-14.6K0.0564.15N/AN/A17183,7461,678
2025-06-10$35.13$30.0044.6%13.9%41.9%24.5%42.5%4.4%0.2%104.3K-3.4M-15.2K0.0075.89N/AN/A10303,8451,684
2025-06-11$35.25$30.0048.6%13.9%41.8%31.0%47.2%4.7%0.6%118.3K-3.6M-15.1K0.0479.05N/AN/A7133,8881,684
2025-06-12$34.17$30.0048.9%14.0%42.7%31.5%47.7%4.3%-0.0%90.4K-3.1M-14.8K0.1179.76N/AN/A5763,8841,685
2025-06-13$33.55$30.0051.2%14.7%42.6%35.4%45.8%4.8%-0.7%93.6K-2.4M-14.4K0.0471.99N/AN/A12853,8901,691
2025-06-16$34.87$30.0049.2%14.1%43.7%32.0%49.2%5.8%0.3%139.9K-3.2M-14.0K0.1172.29N/AN/A258293,8571,691
2025-06-17$33.60$30.0050.6%14.5%46.0%34.4%49.7%5.3%0.1%131.2K-2.7M-13.8K0.0075.59N/AN/A3903,9921,662
2025-06-18$33.13$30.0052.2%15.0%46.3%36.9%56.3%5.2%4.6%78.2K-2.1M-13.5K30.0075.96N/AN/A103003,9951,662
2025-06-20$32.59$30.0052.7%15.1%46.5%37.8%54.0%3.7%5.1%38.4K-1.6M-12.9K0.9482.09N/AN/A36343,9971,830
2025-06-23$32.95$30.0051.3%14.7%46.2%35.4%51.2%6.5%4.6%41.4K-1.7M-12.6K0.0770.45N/AN/A346233,5871,299
2025-06-24$34.39$30.0050.3%14.4%47.7%33.9%49.2%3.8%4.8%86.7K-3.0M-13.8K0.0655.46N/AN/A10873,8821,314
2025-06-25$34.58$30.0048.6%13.9%45.3%31.1%48.4%5.7%6.6%99.3K-3.3M-14.0K0.3154.57N/AN/A32103,9871,314
2025-06-26$35.03$30.0048.9%14.0%43.6%31.5%50.0%1.4%4.7%107.2K-3.7M-14.0K0.0045.77N/AN/A3403,9991,323
2025-06-27$34.87$30.0047.2%13.5%43.7%27.4%47.2%6.0%6.8%113.3K-3.7M-13.3K0.0354.50N/AN/A6424,0281,323
2025-06-30$34.50$30.0046.7%13.4%41.8%26.5%46.7%4.2%9.2%111.0K-3.3M-12.9K4.0045.18N/AN/A522084,0891,325