TRUE Options History — January 2020

In January 2020, TRUE traded between $3.59 and $4.91. ATM implied volatility averaged 72.2%. The 30-day expected move averaged 23.2%. Max pain ranged from $4.00 to $5.00. Net GEX was positive for 18 of 21 trading days. Term structure was in contango for 2 of 21 days. Put/call ratio averaged 14.47.

Notable Days

  • 2020-01-02: Highest Volume — 944 contracts
  • 2020-01-13: Largest IV spike — 46.7% change
  • 2020-01-27: Largest Expected Move — 28.6%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$4.21$3.59$4.91$4.91$3.70
Max Pain$4.71$4.00$5.00$5.00$4.00
ATM IV72.2%41.6%99.7%52.4%93.7%
Expected Move23.2%15.0%28.6%15.0%26.9%
Term Structure-10.8%-21.4%21.6%21.6%-19.4%
VWIV77.4%52.4%95.7%52.4%92.5%
Skew 25d2.9%-16.6%30.2%1.6%30.2%
Skew 10d0.8%-56.4%51.2%3.5%51.2%
Call IV 25d72.1%46.5%95.7%46.5%74.6%
Put IV 25d75.1%46.9%104.7%48.1%104.7%
Bid-Ask Spread %67.8212.6197.0470.9483.08
Gamma HHI0.420.190.900.260.24
Net GEX3.1K-9.1K20.9K6.5K2.0K
Net DEX-24.6K-324.5K132.8K-324.5K-71.8K
Net VEX-684-1.7K-418-1.7K-634
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio14.470.00184.000.000.15
Total Volume166894494454
Total OI4,257.9528917,7857,7851,333

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2020-01-02$4.91$5.0052.4%15.0%0.0%0.0%52.4%1.6%21.6%6.5K-324.5K-1.7K0.0070.94N/AN/A94404,9542,831
2020-01-03$4.78$5.0057.2%16.4%0.0%0.0%57.3%-16.5%19.2%-6.9K-24.3K-1.3K0.4271.13N/AN/A1254,1062,831
2020-01-06$4.73$5.0046.5%22.0%0.0%0.0%80.8%-1.8%-10.8%-9.1K27.4K-1.1K0.2771.27N/AN/A1544,1062,831
2020-01-07$4.65$5.0041.6%21.0%0.0%0.0%0.0%2.0%-10.3%-8.8K111.8K-9220.0072.87N/AN/A09254,1112,831
2020-01-08$4.62$5.0048.6%20.5%0.0%0.0%71.5%2.4%-8.7%5.6K-200.2K-775184.0072.04N/AN/A23684,1111,991
2020-01-09$4.45$5.0046.7%21.8%0.0%0.0%74.9%-4.2%-10.5%3.3K24.1K-6390.0070.20N/AN/A1504,1122,358
2020-01-10$4.18$5.0043.5%22.3%0.0%0.0%76.6%5.0%-16.3%10.0K130.8K-6400.0077.75N/AN/A084,1152,358
2020-01-13$4.04$5.0063.9%23.3%0.0%0.0%82.1%-14.6%-16.7%14.5K132.8K-54819.0083.29N/AN/A2384,1552,275
2020-01-14$4.07$5.0060.3%22.8%0.0%0.0%0.0%-7.3%-15.8%14.6K121.8K-51716.0080.76N/AN/A2324,1572,246
2020-01-15$4.12$5.0081.9%23.5%0.0%0.0%0.0%-2.9%-15.6%20.9K49.0K-49235.5076.84N/AN/A2714,1562,237
2020-01-16$4.32$5.0083.2%23.9%0.0%0.0%75.0%8.0%-18.1%1.2K-52.6K-4452.0082.18N/AN/A5104,1582,166
2020-01-17$4.37$5.0077.4%22.2%0.0%0.0%72.7%6.5%-14.2%1.3K-59.5K-4654.5776.08N/AN/A894074,1632,166
2020-01-21$4.32$5.0083.4%23.9%0.0%0.0%84.1%0.1%-21.4%1.2K-44.5K-4820.0916.41N/AN/A222616275
2020-01-22$4.23$5.0085.8%24.6%0.0%0.0%84.1%-2.7%-14.5%1.2K-40.1K-4740.0017.83N/AN/A560624277
2020-01-23$4.03$5.0086.0%24.7%0.0%0.0%86.1%-16.6%-6.7%1.1K-35.6K-4570.0046.40N/AN/A280639277
2020-01-24$3.92$4.0088.5%25.4%0.0%0.0%83.5%6.3%-10.4%952-25.8K-4180.0012.61N/AN/A1570662277
2020-01-27$3.93$4.0099.7%28.6%0.0%0.0%56.3%15.8%-20.6%1.7K-71.1K-6152.0078.56N/AN/A510923277
2020-01-28$3.91$4.0089.5%25.6%0.0%0.0%0.0%11.1%-4.9%1.7K-67.8K-59610.0086.04N/AN/A110928277
2020-01-29$3.59$4.0096.6%27.7%0.0%0.0%95.7%15.0%-16.5%1.3K-40.2K-5160.7780.88N/AN/A7054929287
2020-01-30$3.61$4.0090.4%25.9%0.0%0.0%90.0%23.8%-16.1%1.7K-55.8K-5900.2297.04N/AN/A50111,014277
2020-01-31$3.70$4.0093.7%26.9%0.0%0.0%92.5%30.2%-19.4%2.0K-71.8K-6340.1583.08N/AN/A4771,056277