TRUE Options History — April 2020

In April 2020, TRUE traded between $2.10 and $2.59. ATM implied volatility averaged 107.3%. The 30-day expected move averaged 30.0%. Max pain ranged from $2.00 to $4.00. Net GEX was positive for 13 of 21 trading days. Term structure was in contango for 5 of 21 days. Put/call ratio averaged 3.27.

Notable Days

  • 2020-04-28: Highest Volume — 374 contracts
  • 2020-04-02: Largest IV spike — 47.1% change
  • 2020-04-20: Largest Expected Move — 46.5%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$2.25$2.10$2.59$2.17$2.57
Max Pain$2.62$2.00$4.00$4.00$2.00
ATM IV107.3%79.8%162.1%79.8%102.5%
Expected Move30.0%22.6%46.5%22.9%29.4%
Term Structure-30.0%-88.1%33.4%-88.1%-30.9%
VWIV118.0%82.8%182.7%111.5%120.9%
Skew 25d-2.9%-40.7%39.5%39.5%3.6%
Skew 10d8.5%-35.8%43.8%38.4%32.7%
Call IV 25d104.4%78.0%159.2%119.7%90.8%
Put IV 25d101.5%70.7%159.2%159.2%94.4%
Bid-Ask Spread %106.5878.79127.25112.03100.34
Gamma HHI0.380.270.550.390.28
Net GEX738-1.7K2.1K-5051.8K
Net DEX-52.2K-139.3K49.4K-20.8K-122.4K
Net VEX-703-885-539-772-655
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio3.270.0021.001.570.17
Total Volume68.1430374187
Total OI3,122.7141,8044,0983,9651,814

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2020-04-01$2.17$4.0079.8%22.9%0.0%0.0%0.0%39.5%-88.1%-505-20.8K-7721.57112.03N/AN/A7112,4491,516
2020-04-02$2.16$3.00117.3%33.8%0.0%0.0%111.5%6.7%-44.1%-31740.9K-74014.63127.25N/AN/A81172,4521,518
2020-04-03$2.11$3.00117.2%26.9%0.0%0.0%97.3%-20.7%16.1%-76949.4K-7193.63106.61N/AN/A8292,4601,583
2020-04-06$2.12$3.00121.5%22.6%0.0%0.0%82.8%13.5%33.4%-1.2K39.0K-6961.09119.54N/AN/A11122,4611,588
2020-04-07$2.10$3.0085.7%28.1%0.0%0.0%98.1%6.8%-25.0%1.4K8.7K-64821.00125.70N/AN/A1212,4671,598
2020-04-08$2.20$3.0091.6%26.3%0.0%0.0%182.7%15.6%6.1%-7578.1K-6790.50112.28N/AN/A212,4681,407
2020-04-09$2.20$3.00110.4%31.6%0.0%0.0%129.0%-29.9%-22.3%-748-16.0K-7610.00104.53N/AN/A0142,4691,407
2020-04-13$2.21$3.00108.8%31.2%0.0%0.0%132.8%-22.3%-46.2%1.2K-12.2K-5623.50104.80N/AN/A4142,4691,411
2020-04-14$2.23$3.00113.5%32.5%0.0%0.0%0.0%10.6%-15.8%-840-17.2K-64215.00108.78N/AN/A1152,4771,416
2020-04-15$2.18$3.00111.5%32.0%0.0%0.0%113.6%-3.8%-35.3%-1.7K4.4K-5390.01114.51N/AN/A25032,4771,415
2020-04-16$2.15$3.00120.1%34.4%0.0%0.0%0.0%-40.7%-44.6%1.4K-61.7K-6580.00102.00N/AN/A3902,7271,340
2020-04-17$2.22$3.00112.8%32.3%0.0%0.0%112.2%-2.3%-36.9%1.7K-79.1K-7640.4592.60N/AN/A2092,7581,340
2020-04-20$2.20$2.00162.1%46.5%0.0%0.0%0.0%-25.0%-75.5%1.7K-109.2K-7520.00110.55N/AN/A301,815215
2020-04-21$2.25$2.0089.8%25.8%0.0%0.0%95.9%-17.3%-62.6%1.7K-139.3K-8850.55111.81N/AN/A1161,816215
2020-04-22$2.34$2.00109.0%31.3%0.0%0.0%138.3%-24.9%-51.5%1.6K-124.2K-7360.0096.55N/AN/A3501,827221
2020-04-23$2.35$2.00102.1%29.3%0.0%0.0%109.2%0.8%-15.9%2.1K-103.7K-7190.00100.80N/AN/A2501,848221
2020-04-24$2.29$2.0091.7%26.3%0.0%0.0%0.0%8.2%28.9%2.1K-102.6K-7150.00108.53N/AN/A001,868221
2020-04-27$2.30$2.00107.3%30.8%0.0%0.0%127.8%10.7%-59.3%2.0K-98.9K-7130.0178.79N/AN/A33221,868221
2020-04-28$2.27$2.00108.9%31.2%0.0%0.0%131.1%4.9%-63.8%1.7K-109.8K-7040.0087.51N/AN/A37401,709221
2020-04-29$2.59$2.0090.3%25.9%0.0%0.0%104.6%5.1%3.5%1.9K-129.4K-6980.03112.70N/AN/A3811,583221
2020-04-30$2.57$2.00102.5%29.4%0.0%0.0%120.9%3.6%-30.9%1.8K-122.4K-6550.17100.34N/AN/A611,592222