SRTS Options History — September 2025

In September 2025, SRTS traded between $3.07 and $3.37. ATM implied volatility averaged 60.2%, placing in the 8.4% IV rank vs the trailing year. The 30-day expected move averaged 14.6%. IV traded above realized volatility by 1.1% (HV 20d: 59.1%). Max pain ranged from $4.00 to $4.00. Net GEX was positive for 14 of 21 trading days. Term structure was in contango for 15 of 21 days. Put/call ratio averaged 0.08.

Notable Days

2025-09-03: Highest Volume — 276 contracts
2025-09-09: Largest IV spike — 198.9% change
2025-09-09: Highest IV Rank — 60.2%
2025-09-02: Largest Expected Move — 36.2%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$3.18	$3.07	$3.37	$3.37	$3.16
Max Pain	$4.00	$4.00	$4.00	$4.00	$4.00
ATM IV	60.2%	38.4%	190.9%	126.4%	50.4%
Expected Move	14.6%	11.0%	36.2%	36.2%	14.4%
HV 20d	59.1%	24.9%	164.1%	164.1%	25.6%
HV 60d	109.8%	109.4%	110.3%	110.1%	109.6%
IV Rank	8.4%	0.0%	60.2%	34.7%	4.7%
IV Percentile	17.0%	0.0%	96.0%	88.5%	8.7%
Term Structure	13.9%	-15.9%	52.8%	-15.0%	-1.5%
VWIV	106.1%	51.7%	169.5%	103.6%	160.8%
Skew 25d	20.1%	-39.2%	132.3%	132.3%	8.1%
Skew 10d	87.9%	-6.8%	163.0%	67.0%	26.3%
Call IV 25d	71.2%	40.1%	106.6%	40.1%	48.8%
Put IV 25d	91.3%	40.3%	172.3%	172.3%	56.9%
Bid-Ask Spread %	107.72	95.54	122.78	104.24	104.65
Gamma HHI	0.44	0.38	0.49	0.44	0.46
Net GEX	-8	-1.2K	515	-1.2K	5
Net DEX	79.4K	28.1K	114.2K	76.1K	109.4K
Net VEX	-678	-817	-573	-706	-573
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.08	0.00	1.06	0.00	0.00
Total Volume	33.81	0	276	1	0
Total OI	1,826.667	1,492	1,936	1,492	1,936

Daily Data (21 trading days)

Date	Price	Max Pain	ATM IV	Exp Move	HV 20d	IV Rank	VWIV	Skew 25d	Term Str	GEX	DEX	VEX	P/C	Spread %	Call Wall	Put Wall	Call Vol	Put Vol	Call OI	Put OI
2025-09-02	$3.37	$4.00	126.4%	36.2%	164.1%	34.7%	0.0%	132.3%	-15.0%	-1.2K	76.1K	-706	0.00	104.24	N/A	N/A	1	0	734	758
2025-09-03	$3.26	$4.00	48.5%	13.9%	163.4%	3.7%	103.6%	-39.2%	-6.8%	-872	76.2K	-705	0.00	95.54	N/A	N/A	276	0	735	758
2025-09-04	$3.19	$4.00	52.7%	12.4%	163.2%	5.4%	169.5%	12.2%	13.0%	-364	72.4K	-743	0.00	116.32	N/A	N/A	10	0	979	758
2025-09-05	$3.20	$4.00	75.7%	14.3%	162.6%	14.6%	0.0%	15.8%	19.6%	1	61.8K	-775	0.00	112.52	N/A	N/A	0	0	975	758
2025-09-08	$3.28	$4.00	63.9%	15.4%	52.8%	9.8%	0.0%	-4.1%	26.5%	-145	66.1K	-749	0.00	103.25	N/A	N/A	12	0	975	758
2025-09-09	$3.25	$4.00	190.9%	11.9%	45.4%	60.2%	0.0%	37.2%	21.8%	198	37.1K	-816	0.00	122.78	N/A	N/A	0	0	986	758
2025-09-10	$3.22	$4.00	48.1%	13.8%	45.4%	3.6%	65.1%	12.0%	22.0%	-82	74.2K	-707	0.00	98.66	N/A	N/A	88	0	986	758
2025-09-11	$3.24	$4.00	46.4%	13.3%	36.7%	2.9%	0.0%	23.3%	5.9%	515	28.1K	-817	0.00	111.41	N/A	N/A	2	0	1,105	748
2025-09-12	$3.20	$4.00	48.6%	13.9%	36.8%	3.8%	95.8%	-8.1%	-10.4%	427	71.4K	-689	0.00	104.14	N/A	N/A	1	0	1,104	748
2025-09-15	$3.15	$4.00	47.5%	13.6%	37.0%	3.4%	0.0%	48.3%	-6.8%	-394	88.4K	-600	0.00	115.38	N/A	N/A	1	0	1,104	748
2025-09-16	$3.17	$4.00	44.3%	12.7%	37.1%	2.1%	97.1%	13.1%	12.7%	384	51.5K	-719	1.06	109.65	N/A	N/A	47	50	1,105	748
2025-09-17	$3.10	$4.00	61.0%	17.5%	35.7%	8.7%	0.0%	17.2%	-15.9%	414	51.2K	-759	0.00	119.43	N/A	N/A	0	0	1,147	781
2025-09-18	$3.15	$4.00	46.1%	13.2%	35.9%	2.8%	94.1%	8.9%	52.8%	140	89.5K	-661	0.00	101.62	N/A	N/A	4	0	1,147	781
2025-09-19	$3.10	$4.00	50.6%	14.5%	33.9%	4.6%	90.6%	25.9%	5.4%	62	85.9K	-666	0.38	108.33	N/A	N/A	100	38	1,147	781
2025-09-22	$3.13	$4.00	46.2%	13.2%	34.1%	2.8%	0.0%	12.7%	13.5%	-58	114.2K	-578	0.00	105.49	N/A	N/A	16	0	1,107	813
2025-09-23	$3.17	$4.00	42.1%	12.1%	31.2%	1.2%	51.7%	-0.4%	27.9%	141	100.5K	-602	0.00	104.66	N/A	N/A	1	0	1,113	813
2025-09-24	$3.14	$4.00	52.1%	14.9%	25.3%	5.2%	133.2%	50.5%	37.4%	72	106.2K	-606	0.00	109.03	N/A	N/A	24	0	1,113	813
2025-09-25	$3.11	$4.00	45.3%	13.0%	25.2%	2.5%	0.0%	59.6%	32.3%	180	102.0K	-590	0.00	105.51	N/A	N/A	20	0	1,100	813
2025-09-26	$3.07	$4.00	38.4%	11.0%	24.9%	0.0%	160.8%	1.5%	23.3%	200	105.6K	-585	0.00	104.63	N/A	N/A	18	0	1,120	813
2025-09-29	$3.15	$4.00	39.7%	11.4%	25.5%	0.5%	0.0%	-4.6%	35.1%	228	98.5K	-584	0.00	104.81	N/A	N/A	1	0	1,123	813
2025-09-30	$3.16	$4.00	50.4%	14.4%	25.6%	4.7%	0.0%	8.1%	-1.5%	5	109.4K	-573	0.00	104.65	N/A	N/A	0	0	1,123	813