TRUE Options History — May 2020

In May 2020, TRUE traded between $2.26 and $3.23. ATM implied volatility averaged 126.6%. The 30-day expected move averaged 32.8%. Max pain ranged from $2.00 to $3.00. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 4 of 20 days. Put/call ratio averaged 0.54.

Notable Days

  • 2020-05-06: Highest Volume — 2,356 contracts
  • 2020-05-12: Largest IV spike — 55.9% change
  • 2020-05-01: Largest Expected Move — 44.6%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$2.63$2.26$3.23$2.48$2.67
Max Pain$2.05$2.00$3.00$2.00$2.00
ATM IV126.6%93.4%219.1%155.5%104.0%
Expected Move32.8%26.8%44.6%44.6%29.8%
Term Structure-9.5%-77.6%26.2%-77.6%-7.8%
VWIV109.0%67.8%138.6%130.4%102.6%
Skew 25d-9.6%-46.9%33.4%-8.6%-29.9%
Skew 10d10.6%-47.6%59.9%16.0%-33.3%
Call IV 25d105.9%66.4%138.5%119.8%103.6%
Put IV 25d96.4%72.6%124.6%111.2%73.7%
Bid-Ask Spread %80.8835.90111.9191.0288.31
Gamma HHI0.520.270.650.270.59
Net GEX6.2K1.7K12.1K1.7K6.8K
Net DEX-298.0K-627.7K-114.0K-114.0K-306.3K
Net VEX-1.4K-2.3K-645-658-1.4K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.540.003.110.000.00
Total Volume333.85112,3561914
Total OI4,724.91,8216,2971,8215,166

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2020-05-01$2.48$2.00155.5%44.6%0.0%0.0%130.4%-8.6%-77.6%1.7K-114.0K-6580.0091.02N/AN/A1901,598223
2020-05-04$2.55$3.00127.0%27.9%0.0%0.0%67.8%21.0%-1.5%1.9K-121.3K-6450.0154.86N/AN/A11311,616223
2020-05-05$2.72$2.00132.5%27.8%0.0%0.0%76.9%-24.4%-3.9%2.5K-150.9K-6730.0199.25N/AN/A78881,728224
2020-05-06$2.89$2.00182.9%33.5%0.0%0.0%138.6%-46.9%-19.5%4.1K-255.3K-1.1K0.0190.77N/AN/A2,336202,285230
2020-05-07$3.23$2.00219.1%35.4%0.0%0.0%131.4%-18.9%-6.2%9.7K-627.7K-2.3K0.2282.48N/AN/A1,4183124,342241
2020-05-08$2.76$2.00130.9%35.4%0.0%0.0%119.2%-12.3%-9.4%9.3K-453.0K-1.9K0.0672.68N/AN/A557335,253552
2020-05-11$2.81$2.0098.1%33.9%0.0%0.0%98.5%15.4%-14.4%12.1K-460.2K-1.9K0.43111.50N/AN/A75325,615558
2020-05-12$2.50$2.00153.0%35.7%0.0%0.0%120.8%-12.7%-33.6%6.4K-311.9K-1.6K0.35111.91N/AN/A115405,612563
2020-05-13$2.28$2.00115.8%33.2%0.0%0.0%136.2%-7.8%-11.3%5.0K-241.8K-1.3K0.4781.50N/AN/A79375,729535
2020-05-14$2.26$2.00139.4%40.0%0.0%0.0%134.4%-4.8%0.4%4.7K-249.4K-1.3K2.2387.10N/AN/A13295,740548
2020-05-15$2.36$2.00117.5%33.7%0.0%0.0%121.8%-9.3%26.2%5.2K-279.8K-1.4K3.1191.70N/AN/A371155,747550
2020-05-18$2.47$2.00112.1%32.1%0.0%0.0%100.6%20.9%-18.9%5.6K-214.3K-1.2K0.3592.39N/AN/A2074,400420
2020-05-19$2.65$2.00107.7%30.9%0.0%0.0%107.1%2.0%-4.6%6.5K-292.7K-1.5K0.0073.19N/AN/A5704,418427
2020-05-20$2.66$2.00103.2%29.6%0.0%0.0%99.7%-29.3%4.0%6.7K-293.4K-1.5K0.0059.62N/AN/A12404,438427
2020-05-21$2.58$2.00107.5%30.8%0.0%0.0%107.5%-11.5%-4.4%6.5K-294.2K-1.5K0.0035.90N/AN/A1104,541427
2020-05-22$2.53$2.0093.4%26.8%0.0%0.0%94.4%-21.6%15.6%6.1K-266.6K-1.4K0.0064.81N/AN/A2104,542427
2020-05-26$2.64$2.00111.3%31.9%0.0%0.0%73.0%33.4%-2.7%7.3K-316.7K-1.5K1.9476.95N/AN/A33644,538427
2020-05-27$2.79$2.00103.3%29.6%0.0%0.0%102.7%-20.2%-6.0%7.8K-365.4K-1.6K0.0471.31N/AN/A5224,555479
2020-05-28$2.68$2.00118.1%33.8%0.0%0.0%116.5%-26.0%-13.7%7.3K-346.2K-1.6K1.5080.32N/AN/A38574,672482
2020-05-29$2.67$2.00104.0%29.8%0.0%0.0%102.6%-29.9%-7.8%6.8K-306.3K-1.4K0.0088.31N/AN/A1404,680486