TDC Options History — March 2020

In March 2020, TDC traded between $18.06 and $21.23. ATM implied volatility averaged 85.2%, placing in the 76.4% IV rank vs the trailing year. The 30-day expected move averaged 23.3%. IV traded above realized volatility by 21.4% (HV 20d: 63.7%). Max pain ranged from $22.50 to $25.00. Net GEX was positive for 20 of 22 trading days. Term structure was in contango for 5 of 22 days. Put/call ratio averaged 3.41.

Notable Days

  • 2020-03-18: Highest Volume — 5,608 contracts
  • 2020-03-11: Largest IV drop — 31.5% change
  • 2020-03-06: Highest IV Rank — 100.0%
  • 2020-03-18: Largest Expected Move — 30.5%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$20.11$18.06$21.23$20.62$20.29
Max Pain$24.32$22.50$25.00$25.00$22.50
ATM IV85.2%57.1%115.5%58.3%67.2%
Expected Move23.3%16.4%30.5%16.7%19.3%
HV 20d63.7%39.6%87.3%46.9%84.3%
HV 60d44.8%34.0%56.8%34.7%56.8%
IV Rank76.4%48.2%100.0%73.7%48.2%
IV Percentile97.4%91.7%100.0%95.2%91.7%
Term Structure-10.0%-27.6%8.4%-4.0%1.2%
VWIV83.1%54.2%116.5%59.0%71.8%
Skew 25d4.5%-21.0%26.3%5.4%7.4%
Skew 10d4.1%-23.5%31.6%26.4%-5.6%
Call IV 25d83.3%52.7%120.7%55.9%67.8%
Put IV 25d87.8%59.7%116.0%61.2%75.2%
Bid-Ask Spread %76.4656.0590.0464.4681.44
Gamma HHI0.150.130.350.150.16
Net GEX63.8K-199.2K188.5K37.8K60.9K
Net DEX6.8M1.2M10.6M10.6M7.3M
Net VEX-101.8K-124.6K-81.7K-96.3K-88.5K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio3.410.0017.691.850.51
Total Volume1,079.636295,608351799
Total OI33,505.45527,48039,02432,93631,666

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2020-03-02$20.62$25.0058.3%16.7%46.9%73.7%59.0%5.4%-4.0%37.8K10.6M-96.3K1.8564.46N/AN/A12322819,45513,481
2020-03-03$20.53$25.0060.7%17.4%46.9%77.4%54.2%4.1%-6.1%32.9K10.6M-98.7K1.2172.69N/AN/A242919,53513,650
2020-03-04$20.89$25.0057.1%16.4%47.3%70.1%56.9%7.0%-1.7%40.9K9.8M-100.1K6.9672.96N/AN/A7350819,55413,644
2020-03-05$20.47$25.0070.2%17.5%46.6%96.3%61.1%2.6%-9.4%47.9K9.4M-97.7K0.1668.12N/AN/A45719,59813,412
2020-03-06$21.23$25.0082.9%19.6%47.4%100.0%68.6%4.4%-8.4%114.4K5.7M-114.5K0.0969.78N/AN/A3,51532219,59513,412
2020-03-09$20.73$25.00103.7%22.3%39.6%100.0%81.9%3.0%-12.4%188.5K4.4M-116.3K0.2565.15N/AN/A2,11251922,20713,338
2020-03-10$20.55$25.00115.5%23.2%39.6%100.0%80.8%4.0%-14.2%126.6K5.9M-115.4K0.0871.54N/AN/A5404120,86713,843
2020-03-11$19.90$25.0079.1%22.7%40.7%61.0%84.5%1.0%-13.1%101.2K7.1M-109.6K14.9856.05N/AN/A5683921,07513,851
2020-03-12$19.06$25.0089.3%25.6%41.7%72.0%87.6%-0.8%-20.7%66.9K8.1M-95.9K0.7672.69N/AN/A1148721,05913,197
2020-03-13$21.08$25.0093.1%26.7%57.3%76.1%95.7%2.0%-15.3%187.5K1.2M-124.6K3.8874.53N/AN/A8332221,03713,240
2020-03-16$20.16$25.0095.7%27.4%58.8%78.8%112.6%12.7%-10.0%129.3K4.3M-108.8K4.0074.99N/AN/A228821,02213,171
2020-03-17$20.69$25.00101.5%29.1%59.8%85.0%94.8%-1.8%-26.5%142.3K3.6M-110.3K1.2178.79N/AN/A718621,02113,166
2020-03-18$18.09$25.00106.3%30.5%75.4%90.2%116.5%-21.0%-27.6%18.6K7.2M-94.7K17.6981.61N/AN/A3005,30820,96213,216
2020-03-19$18.99$25.00102.9%29.5%77.9%86.5%107.4%10.6%-25.7%-199.2K8.3M-103.5K8.6785.85N/AN/A32620,98318,041
2020-03-20$19.48$25.0099.4%28.5%78.9%82.7%95.0%5.5%-20.1%27.6K8.6M-96.1K4.0090.04N/AN/A249620,98118,030
2020-03-23$18.06$25.0086.0%24.6%81.9%68.3%88.8%-8.5%8.4%7.0K8.6M-81.7K6.3883.06N/AN/A3622,30915,40612,074
2020-03-24$19.66$22.5078.8%22.6%87.1%60.6%91.6%0.7%3.1%-1.5K8.5M-89.8K0.0580.92N/AN/A5022416,67914,284
2020-03-25$20.19$22.5088.3%25.3%87.3%70.8%87.4%26.3%-7.7%18.9K6.6M-98.8K0.0085.55N/AN/A3,3981016,69814,285
2020-03-26$20.41$22.5076.6%22.0%86.3%58.3%77.8%14.0%0.7%84.9K5.0M-101.1K0.3082.56N/AN/A1183517,78814,286
2020-03-27$20.65$22.5079.1%22.7%86.3%61.0%71.5%6.8%0.6%87.0K4.6M-101.8K1.8984.19N/AN/A183417,84414,302
2020-03-30$20.59$22.5081.6%23.4%84.1%63.7%82.4%13.9%-10.0%83.8K5.3M-95.5K0.0485.12N/AN/A5141817,86314,302
2020-03-31$20.29$22.5067.2%19.3%84.3%48.2%71.8%7.4%1.2%60.9K7.3M-88.5K0.5181.44N/AN/A52927017,36414,302