Is FORM options pricing rich or cheap right now?

As of Jul 15, 2026, FormFactor, Inc. (FORM) ATM IV is 110.1% against 20-day realized volatility of 137.0%. IV rank is 70.1%. Realized volatility currently exceeds implied: an inversion of the typical equity volatility risk premium that often precedes IV expansion.

What is the FORM variance risk premium?

The variance risk premium is the persistent gap between implied and subsequently realized volatility. In equity markets it averages positive because option sellers demand compensation for bearing variance shocks. FORM is currently pricing inverted to the historical pattern, which is one input to whether short-vol or long-vol structures carry their typical edge.

What does FORM IV rank mean for strategy selection?

IV rank normalizes the current ATM IV to its 1-year range: 0% is the low, 100% is the high. FORM's current rank of 70.1% signals where current pricing sits in its own 1-year history. High-rank regimes typically favor premium-selling structures (credit spreads, condors, covered calls); low-rank regimes typically favor premium-buying or long-volatility structures.

FormFactor, Inc. (FORM) IV/HV History

Comparing implied volatility to historical (realized) volatility reveals whether options are priced rich or cheap relative to actual price movement. Persistent gaps can signal trading opportunities.

FormFactor, Inc. (FORM) operates in the Technology sector, specifically the Semiconductors industry, with a market capitalization near $9.03B, listed on NASDAQ, employing roughly 2,153 people, carrying a beta of 1.22 to the broader market. FormFactor, Inc. Led by Michael D. Slessor, public since 2003-06-12.

Snapshot as of Jul 15, 2026.

Spot Price: $115.69
ATM IV: 110.1%
HV 20-Day: 137.0%
HV 60-Day: 102.2%
IV Rank: 70.1%
IV Percentile: 98.4%

As of Jul 15, 2026, FormFactor, Inc. (FORM) ATM implied volatility is 110.1%. 20-day realized volatility is 137.0%, producing an IV-HV spread of -26.9 vol points. Realized volatility currently exceeds implied, an inversion that can signal a pending IV expansion. IV rank is 70.1%.

How FORM iv/hv history Data Feeds Strategy Selection

Strategy selection on FormFactor, Inc. options does not derive from any single metric in isolation. The iv/hv history view above sits inside a broader read: ATM IV currently sits at 110.1% and dealer gamma exposure is negative, so dealer hedging amplifies directional moves. Combine the iv/hv history data here with the volatility-skew surface, dealer-gamma exposure, max-pain level, and upcoming-events calendar to build a positioning thesis. Risk-defined structures (credit spreads, debit spreads, iron condors) are usually safer than naked positions while the regime is uncertain; the data on this page anchors the inputs but does not by itself constitute a trade thesis.

How to read the FORM IV vs HV chart

The dual-line chart above tracks ATM implied volatility (forward-looking, what the chain is pricing) against 20-day realized historical volatility (backward-looking, what actually happened). ATM IV currently prints at 110.1%, 70.1% IV rank, against 137.0% realized over the trailing 20 trading days. Implied is currently below realized by 26.9 vol points, an inverted regime where premium buyers are underpaying for the move - rare and often a setup for IV expansion. Persistent IV-above-HV is the variance-risk-premium-positive state typical of equity markets; persistent IV-below-HV is rare and usually marks underpriced vol that often expands.

FORM IV/HV regimes and trade selection

FORM sits in the top quartile of its 1-year IV range. High-IV-rank regimes statistically favor premium-selling - the elevated implied is more likely to mean-revert than to expand further. Iron condors, covered calls, and cash-secured puts collect more premium per unit of notional risk; size wings to the implied move and exit on first sign of HV catching up.

Using FORM vol history alongside the term structure

The IV/HV gap on this page captures the level of premium; the term-structure slope on the volatility page captures its shape across expirations. Backwardation (negative slope -0.055) indicates acute near-term event risk - near-dated tenors price disproportionate vol. Pair the rank read with the slope read with the event calendar to choose the right tenor for the structure.

FORM IV/HV signal in volatility-cycle context

Equity-vol cycles tend to compress and expand on multi-month timeframes: a typical sequence runs low-IV-rank consolidation (months of flat tape, decaying premium) into a vol-expansion catalyst (earnings miss, macro shock, regime change) into elevated-IV-rank stress (premiums fat, dispersion high) back to mean-reverting compression. FORM's current 70.1% IV rank places the ticker in the expansion or stress phase of that cycle. Premium-selling carries the typical structural tailwind here, but the mean-reverting compression that completes the cycle has historically arrived sharply rather than gradually. The ratio of HV-20 (137.0%) to HV-60 (102.2%) gives a second cycle indicator: when 20-day exceeds 60-day, recent realization is running hotter than the trailing-quarter average - typically a sign that recent days have already started expanding vol regardless of where IV rank prints. Use the time series above to spot inflection points: meaningful IV/HV gap closures and openings tend to precede regime shifts by a few sessions.

Learn how implied vs realized volatility is reported and how to read the data →

Daily ATM implied volatility and 20-day realized (historical) volatility for FORM over the last ~26 trading days. The IV-HV gap measures the variance risk premium - when IV trades persistently above realized HV, premium-sellers earn the spread; when IV dips below HV, vol is structurally underpriced.

Daily values from end-of-day option_ticker_snapshots. Series sparse on illiquid tickers reflects gaps in the upstream end-of-day options data feed.

Most recent 15 trading days (descending). Older history appears in the chart above.

Date	ATM IV	HV 20d	HV 60d	IV Rank
Jul 15, 2026	110.1%	137.0%	102.2%	70.1%
Jul 13, 2026	111.6%	137.1%	101.9%	71.6%
Jul 10, 2026	94.7%	136.7%	101.2%	54.2%
Jul 9, 2026	97.7%	139.2%	101.1%	57.3%
Jul 8, 2026	105.3%	136.7%	100.6%	65.1%
Jul 7, 2026	106.2%	137.5%	100.8%	66.1%
Jul 6, 2026	104.8%	133.7%	99.2%	64.6%
Jul 1, 2026	94.3%	106.7%	87.5%	53.8%
Jun 30, 2026	95.6%	102.8%	85.8%	55.2%
Jun 29, 2026	97.3%	97.3%	85.2%	56.9%
Jun 26, 2026	95.8%	96.1%	85.1%	55.4%
Jun 25, 2026	93.4%	88.7%	82.4%	52.9%
Jun 24, 2026	95.0%	86.9%	81.8%	54.5%
Jun 23, 2026	94.1%	87.9%	82.0%	53.6%
Jun 22, 2026	90.7%	86.2%	79.6%	50.1%

Frequently asked FORM iv/hv history questions

Is FORM options pricing rich or cheap right now?: As of Jul 15, 2026, FormFactor, Inc. (FORM) ATM IV is 110.1% against 20-day realized volatility of 137.0%. IV rank is 70.1%. Realized volatility currently exceeds implied: an inversion of the typical equity volatility risk premium that often precedes IV expansion.
What is the FORM variance risk premium?: The variance risk premium is the persistent gap between implied and subsequently realized volatility. In equity markets it averages positive because option sellers demand compensation for bearing variance shocks. FORM is currently pricing inverted to the historical pattern, which is one input to whether short-vol or long-vol structures carry their typical edge.
What does FORM IV rank mean for strategy selection?: IV rank normalizes the current ATM IV to its 1-year range: 0% is the low, 100% is the high. FORM's current rank of 70.1% signals where current pricing sits in its own 1-year history. High-rank regimes typically favor premium-selling structures (credit spreads, condors, covered calls); low-rank regimes typically favor premium-buying or long-volatility structures.