TRUE Options History — March 2020

In March 2020, TRUE traded between $2.20 and $2.76. ATM implied volatility averaged 124.5%. The 30-day expected move averaged 35.0%. Max pain ranged from $3.00 to $4.00. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 6 of 22 days. Put/call ratio averaged 7.13.

Notable Days

  • 2020-03-13: Highest Volume — 324 contracts
  • 2020-03-05: Largest IV spike — 93.5% change
  • 2020-03-25: Largest Expected Move — 50.0%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$2.46$2.20$2.76$2.65$2.41
Max Pain$3.86$3.00$4.00$3.00$4.00
ATM IV124.5%59.4%174.5%64.7%144.3%
Expected Move35.0%17.0%50.0%18.5%41.4%
Term Structure-19.0%-89.3%62.6%25.8%17.1%
VWIV121.2%56.0%175.2%60.2%148.8%
Skew 25d-0.5%-81.4%60.4%-1.3%-45.1%
Skew 10d28.7%-24.8%64.3%14.7%49.5%
Call IV 25d122.2%65.9%217.3%68.6%217.3%
Put IV 25d121.7%66.2%175.3%67.3%172.2%
Bid-Ask Spread %94.9344.16148.6390.3173.27
Gamma HHI0.260.200.350.270.26
Net GEX1.2K1332.6K2.2K1.2K
Net DEX-51.3K-181.8K-17.8K-67.8K-65.1K
Net VEX-1.1K-1.4K-930-1.1K-1.0K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio7.130.0062.801.292.57
Total Volume83.90933241682
Total OI4,276.3183,8504,7444,3193,911

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2020-03-02$2.65$3.0064.7%18.5%0.0%0.0%60.2%-1.3%25.8%2.2K-67.8K-1.1K1.2990.31N/AN/A792,9701,349
2020-03-03$2.60$3.0064.7%18.5%0.0%0.0%68.5%4.2%14.0%2.1K-52.4K-1.1K0.0392.97N/AN/A5822,9771,357
2020-03-04$2.58$3.0059.4%17.0%0.0%0.0%56.0%22.8%24.8%1.8K-38.9K-1.0K0.5082.05N/AN/A135672,9511,357
2020-03-05$2.55$4.00115.0%24.8%0.0%0.0%0.0%-17.9%-9.9%2.2K-75.6K-1.1K0.0086.29N/AN/A5002,9521,357
2020-03-06$2.45$4.00118.7%34.5%0.0%0.0%109.7%20.7%-17.2%1.5K-48.5K-1.1K0.4592.95N/AN/A2093,0191,357
2020-03-09$2.30$4.00147.2%42.8%0.0%0.0%111.6%47.6%-89.3%1.3K-52.8K-1.1K0.1393.36N/AN/A1523,0391,362
2020-03-10$2.32$4.00162.3%39.0%0.0%0.0%122.6%13.5%-52.2%1.3K-29.5K-1.0K44.0095.91N/AN/A1443,0391,362
2020-03-11$2.43$4.00102.0%29.2%0.0%0.0%67.6%-27.0%-68.4%1.6K-43.0K-1.1K5.00111.28N/AN/A2103,0381,354
2020-03-12$2.47$4.00113.8%32.6%0.0%0.0%92.8%-9.9%-31.4%1.1K-42.0K-1.0K0.17148.63N/AN/A71123,0371,358
2020-03-13$2.66$4.00166.7%47.8%0.0%0.0%157.6%60.4%-69.3%1.9K-90.7K-1.2K2.31133.73N/AN/A982263,0611,367
2020-03-16$2.76$4.00108.2%31.0%0.0%0.0%156.6%0.0%-25.1%2.6K-181.8K-1.4K0.15145.40N/AN/A95143,0361,549
2020-03-17$2.55$4.00136.3%39.1%0.0%0.0%136.8%-29.6%-36.7%1.4K-48.2K-1.0K62.80109.53N/AN/A53143,0071,547
2020-03-18$2.44$4.00107.0%30.7%0.0%0.0%175.2%-13.6%62.6%1.0K-52.8K-1.2K3.84105.89N/AN/A19733,0061,738
2020-03-19$2.40$4.00136.2%39.0%0.0%0.0%133.0%-81.4%-15.6%771-26.3K-1.0K0.00109.70N/AN/A0362,9991,683
2020-03-20$2.20$4.00159.1%45.6%0.0%0.0%159.7%-17.4%-49.2%133-20.2K-9300.4178.37N/AN/A202832,9991,684
2020-03-23$2.27$4.00136.8%39.2%0.0%0.0%133.5%6.9%-14.0%273-25.3K-9731.0044.16N/AN/A222,4431,407
2020-03-24$2.43$4.00121.9%34.9%0.0%0.0%126.4%6.1%-13.8%391-17.8K-9730.0074.89N/AN/A032,4451,409
2020-03-25$2.46$4.00174.5%50.0%0.0%0.0%143.7%26.0%-52.9%473-50.7K-1.1K5.1496.57N/AN/A7362,4451,407
2020-03-26$2.44$4.00133.4%38.3%0.0%0.0%125.9%18.2%-7.1%253-20.1K-9963.4047.51N/AN/A5172,4501,442
2020-03-27$2.42$4.00115.8%33.2%0.0%0.0%0.0%3.1%7.4%256-35.6K-1.0K0.0071.20N/AN/A032,4521,451
2020-03-30$2.39$4.00150.5%43.1%0.0%0.0%138.6%3.3%-16.4%763-43.3K-1.0K2.33104.48N/AN/A372,4521,454
2020-03-31$2.41$4.00144.3%41.4%0.0%0.0%148.8%-45.1%17.1%1.2K-65.1K-1.0K2.5773.27N/AN/A23592,4551,456