FORM Options History — March 2026

In March 2026, FORM traded between $84.34 and $100.44. ATM implied volatility averaged 73.4%, placing in the 50.8% IV rank vs the trailing year. The 30-day expected move averaged 20.8%. IV traded above realized volatility by 3.8% (HV 20d: 69.6%). Max pain ranged from $50.00 to $90.00. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 17 of 20 days. Put/call ratio averaged 0.80.

Notable Days

  • 2026-03-05: Highest Volume — 1,220 contracts
  • 2026-03-26: Largest IV spike — 12.6% change
  • 2026-03-30: Highest IV Rank — 72.0%
  • 2026-03-30: Largest Expected Move — 24.8%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$92.80$84.34$100.44$98.63$96.12
Max Pain$63.50$50.00$90.00$90.00$80.00
ATM IV73.4%66.6%86.5%72.1%76.4%
Expected Move20.8%18.8%24.8%20.7%21.9%
HV 20d69.6%60.8%85.9%78.0%71.6%
HV 60d66.6%62.2%71.9%62.2%71.9%
IV Rank50.8%39.8%72.0%48.8%55.7%
IV Percentile84.9%74.2%96.4%86.5%87.3%
Term Structure4.9%-2.9%13.9%-2.4%13.9%
VWIV73.3%66.9%84.5%74.9%75.5%
Skew 25d5.8%-0.8%11.5%6.9%5.3%
Skew 10d11.5%4.9%17.7%4.9%15.6%
Call IV 25d71.0%64.1%81.8%71.2%74.8%
Put IV 25d76.7%70.6%93.3%78.1%80.2%
Bid-Ask Spread %41.8619.2469.5155.9519.24
Gamma HHI0.210.140.260.250.15
Net GEX251.2K70.7K338.4K338.4K268.3K
Net DEX-20.4M-25.8M-14.7M-25.8M-21.5M
Net VEX-64.8K-78.2K-52.3K-78.2K-64.0K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.800.084.310.470.32
Total Volume356.2821,220210284
Total OI7,147.656,5447,7416,7737,741

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2026-03-02$98.63$90.0072.1%20.7%78.0%48.8%74.9%6.9%-2.4%338.4K-25.8M-78.2K0.4755.95N/AN/A143674,6482,125
2026-03-03$93.19$90.0073.4%21.1%82.2%50.9%72.1%5.5%-2.8%303.7K-22.4M-75.9K0.2364.79N/AN/A270614,6812,163
2026-03-04$92.89$90.0072.3%20.7%81.4%49.1%73.1%4.9%-2.9%290.3K-21.7M-74.5K0.1268.11N/AN/A130164,6512,181
2026-03-05$86.02$50.0075.1%19.5%85.9%53.5%78.4%-0.8%3.5%230.6K-16.3M-68.2K1.0467.18N/AN/A5986224,6612,191
2026-03-06$84.34$50.0077.5%19.9%71.0%57.4%71.3%1.1%5.6%184.1K-14.7M-63.1K0.1867.93N/AN/A170314,4512,703
2026-03-09$89.27$50.0074.5%20.5%66.4%52.6%71.0%9.8%2.8%222.7K-17.1M-61.2K4.3169.51N/AN/A1034444,4752,710
2026-03-10$90.67$50.0078.4%20.3%64.4%58.9%71.2%4.5%5.2%252.7K-19.3M-64.7K0.1964.38N/AN/A181354,4982,580
2026-03-11$91.66$50.0071.4%20.5%64.0%47.6%74.3%6.4%4.8%257.9K-20.1M-65.4K0.3164.12N/AN/A96304,5172,580
2026-03-12$88.37$50.0070.7%21.1%62.9%46.5%73.5%5.6%3.0%226.4K-17.8M-63.8K0.3425.23N/AN/A128434,5892,589
2026-03-13$89.83$50.0071.7%22.2%62.2%48.1%73.0%5.2%3.3%233.2K-18.7M-65.0K0.5829.52N/AN/A52304,6132,598
2026-03-16$90.31$50.0071.9%21.0%60.8%48.4%72.0%3.3%2.0%232.5K-19.4M-62.0K0.1927.56N/AN/A186364,5882,611
2026-03-17$94.53$50.0067.1%19.0%63.0%40.6%67.2%7.3%5.7%305.9K-22.2M-62.9K0.9126.55N/AN/A3242954,6752,619
2026-03-18$96.88$50.0066.6%18.8%63.4%39.8%67.2%6.2%5.9%331.2K-23.6M-60.2K0.0820.52N/AN/A391324,4822,609
2026-03-19$95.59$50.0066.8%19.4%63.3%40.2%66.9%7.8%10.4%282.5K-21.2M-55.8K0.6025.97N/AN/A2311394,3042,622
2026-03-20$90.15$50.0070.3%20.0%66.3%45.8%76.0%7.6%7.5%70.7K-17.7M-52.3K4.2226.37N/AN/A1616804,4132,649
2026-03-23$98.48$80.0068.9%20.1%73.5%43.6%69.2%7.0%10.0%205.7K-21.3M-58.3K0.2625.23N/AN/A232603,6942,850
2026-03-26$100.44$80.0077.6%22.2%72.1%57.6%76.5%3.4%10.2%293.6K-25.6M-69.9K0.9729.84N/AN/A1611564,5713,041
2026-03-27$97.89$80.0078.5%22.5%70.3%59.1%77.9%6.5%8.3%272.0K-23.0M-68.3K0.1329.67N/AN/A134174,5883,034
2026-03-30$90.83$80.0086.5%24.8%68.8%72.0%84.5%11.5%4.5%220.8K-18.0M-62.4K0.6329.57N/AN/A2181374,6233,035
2026-03-31$96.12$80.0076.4%21.9%71.6%55.7%75.5%5.3%13.9%268.3K-21.5M-64.0K0.3219.24N/AN/A215694,6073,134