TRUE Options History — September 2020

In September 2020, TRUE traded between $4.55 and $5.41. ATM implied volatility averaged 85.0%. The 30-day expected move averaged 24.0%. Max pain ranged from $3.00 to $5.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 11 of 21 days. Put/call ratio averaged 0.28.

Notable Days

  • 2020-09-21: Highest Volume — 3,334 contracts
  • 2020-09-08: Largest IV spike — 23.4% change
  • 2020-09-22: Largest Expected Move — 26.5%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$4.84$4.55$5.41$4.76$5.01
Max Pain$3.48$3.00$5.00$4.00$4.00
ATM IV85.0%76.9%107.6%83.5%80.7%
Expected Move24.0%22.0%26.5%24.0%23.1%
Term Structure1.1%-75.9%21.9%3.8%17.4%
VWIV82.9%57.2%94.5%80.1%80.3%
Skew 25d1.7%-24.8%34.4%-1.6%-13.6%
Skew 10d13.1%-35.0%74.2%27.2%-10.8%
Call IV 25d81.7%56.3%93.2%65.6%81.7%
Put IV 25d83.3%64.0%95.4%64.0%68.0%
Bid-Ask Spread %37.8715.1473.4773.4715.79
Gamma HHI0.590.510.690.570.59
Net GEX61.0K47.4K90.5K48.1K90.5K
Net DEX-2.2M-3.4M-1.6M-2.1M-2.6M
Net VEX-5.4K-6.1K-4.6K-6.1K-6.1K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.280.002.270.410.04
Total Volume426.857173,33493271
Total OI10,874.6679,07212,41810,53012,418

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2020-09-01$4.76$4.0083.5%24.0%0.0%0.0%80.1%-1.6%3.8%48.1K-2.1M-6.1K0.4173.47N/AN/A66279,652878
2020-09-02$4.80$4.0076.9%22.0%0.0%0.0%76.2%34.4%9.5%48.4K-2.2M-6.0K0.4855.79N/AN/A23119,698879
2020-09-03$4.74$3.0091.7%25.5%0.0%0.0%88.0%6.9%-4.3%47.4K-2.1M-6.1K0.6247.06N/AN/A47299,761876
2020-09-04$4.61$3.0087.2%23.9%0.0%0.0%84.1%0.7%-0.7%47.5K-1.9M-5.8K0.1334.89N/AN/A140189,735876
2020-09-08$4.67$3.00107.6%25.9%0.0%0.0%88.7%7.5%-5.7%48.0K-2.0M-5.5K0.2143.49N/AN/A1439,641883
2020-09-09$4.58$3.0085.9%24.6%0.0%0.0%87.0%-9.7%-1.5%48.1K-1.8M-5.1K0.0734.39N/AN/A2729,648884
2020-09-10$4.62$3.0085.5%24.5%0.0%0.0%0.0%5.5%-5.3%49.3K-1.8M-5.1K0.1028.21N/AN/A2029,622883
2020-09-11$4.55$3.0080.7%23.1%0.0%0.0%82.1%-0.7%-0.4%50.2K-1.6M-4.8K0.1526.27N/AN/A4779,627881
2020-09-14$4.73$3.0077.2%22.1%0.0%0.0%77.0%2.2%-0.5%55.3K-1.8M-4.6K0.1328.22N/AN/A3149,603886
2020-09-15$4.71$3.0078.9%22.6%0.0%0.0%79.7%4.8%-0.7%56.5K-1.8M-4.6K2.2734.71N/AN/A1072439,617890
2020-09-16$5.03$3.0080.8%23.2%0.0%0.0%80.9%8.2%-4.6%63.8K-2.5M-5.0K0.1033.06N/AN/A193209,648946
2020-09-17$4.78$3.0080.2%23.0%0.0%0.0%81.5%9.9%-75.9%62.4K-1.9M-4.7K0.4155.73N/AN/A78329,643950
2020-09-18$4.83$3.0078.9%22.6%0.0%0.0%57.2%23.5%6.4%57.2K-1.8M-4.6K0.2543.07N/AN/A61159,628915
2020-09-21$5.20$3.0088.0%25.2%0.0%0.0%90.6%2.3%11.7%59.5K-2.5M-4.8K0.0264.82N/AN/A3,277578,497575
2020-09-22$5.41$4.0092.5%26.5%0.0%0.0%94.5%-3.8%4.7%73.1K-3.4M-6.0K0.1124.73N/AN/A1,56517510,340617
2020-09-23$5.05$4.0084.4%24.2%0.0%0.0%89.7%-24.8%21.9%73.1K-2.5M-6.0K0.0147.53N/AN/A610410,556779
2020-09-24$4.88$4.0085.0%24.4%0.0%0.0%85.2%4.0%8.6%71.4K-2.2M-5.7K0.1132.20N/AN/A5465810,712784
2020-09-25$4.86$4.0086.9%24.9%0.0%0.0%87.2%2.9%14.1%72.0K-2.2M-5.9K0.0527.75N/AN/A3681911,085816
2020-09-28$4.87$5.0088.2%25.3%0.0%0.0%83.0%-18.1%9.9%76.2K-2.3M-5.8K0.2815.14N/AN/A1905411,164828
2020-09-29$4.97$4.0084.5%24.2%0.0%0.0%84.7%-5.7%15.1%83.4K-2.5M-5.8K0.0029.02N/AN/A503011,265782
2020-09-30$5.01$4.0080.7%23.1%0.0%0.0%80.3%-13.6%17.4%90.5K-2.6M-6.1K0.0415.79N/AN/A2611011,636782