TRUE Options History — March 2023

In March 2023, TRUE traded between $1.92 and $2.34. ATM implied volatility averaged 65.2%. The 30-day expected move averaged 17.5%. Max pain ranged from $2.00 to $3.00. Net GEX was positive for 0 of 23 trading days. Term structure was in contango for 11 of 23 days. Put/call ratio averaged 35.60.

Notable Days

  • 2023-03-09: Highest Volume — 1,319 contracts
  • 2023-03-24: Largest IV spike — 73.0% change
  • 2023-03-24: Largest Expected Move — 26.5%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$2.23$1.92$2.34$2.29$2.29
Max Pain$2.13$2.00$3.00$3.00$2.00
ATM IV65.2%46.4%97.3%52.9%62.7%
Expected Move17.5%11.9%26.5%15.2%18.0%
Term Structure-2.3%-62.4%23.8%4.3%4.5%
VWIV69.7%55.7%93.8%88.3%56.0%
Skew 25d-22.8%-95.0%11.5%-28.2%-10.9%
Skew 10d-0.1%-99.4%135.8%-33.4%23.9%
Call IV 25d84.2%40.1%181.8%74.3%69.4%
Put IV 25d61.4%37.1%129.8%46.1%58.5%
Bid-Ask Spread %70.6713.72108.6717.0842.73
Gamma HHI0.870.670.930.670.92
Net GEX-26.5K-31.6K-20.2K-26.7K-29.8K
Net DEX2.0M1.7M2.3M2.3M2.1M
Net VEX-6.6K-7.4K-5.6K-6.8K-7.0K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio35.600.00252.0056.140.00
Total Volume185.91301,3194001
Total OI14,30912,20715,51015,07914,460

Daily Data (23 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2023-03-01$2.29$3.0052.9%15.2%0.0%0.0%0.0%-28.2%4.3%-26.7K2.3M-6.8K56.1417.08N/AN/A739363614,443
2023-03-02$2.34$3.0058.6%16.8%0.0%0.0%0.0%-11.5%-23.1%-25.3K1.7M-6.2K252.0061.21N/AN/A125264311,564
2023-03-03$2.34$3.0069.2%19.9%0.0%0.0%88.3%-30.1%-15.6%-27.3K1.8M-6.2K0.0022.91N/AN/A4064311,814
2023-03-06$2.27$2.0065.8%13.0%0.0%0.0%55.7%-1.8%1.4%-25.2K1.8M-6.1K56.2542.02N/AN/A845064711,814
2023-03-07$2.30$2.0054.9%15.1%0.0%0.0%68.2%-3.0%-7.0%-26.8K1.9M-6.2K124.5013.72N/AN/A224965512,312
2023-03-08$2.29$2.0070.7%11.9%0.0%0.0%0.0%-22.9%14.1%-26.9K1.9M-6.5K0.0071.80N/AN/A025165512,558
2023-03-09$2.20$2.0062.2%16.1%0.0%0.0%0.0%4.9%13.0%-23.0K1.9M-6.3K0.0080.31N/AN/A01,31965512,809
2023-03-10$1.92$2.0056.0%20.2%0.0%0.0%70.4%10.7%-1.8%-20.2K2.0M-5.6K6.3257.03N/AN/A1621,02465314,034
2023-03-13$2.00$2.0089.9%19.1%0.0%0.0%0.0%-71.7%-8.8%-24.6K2.1M-5.8K0.0080.34N/AN/A03766514,833
2023-03-14$2.10$2.0097.3%19.6%0.0%0.0%68.3%-19.5%-1.7%-26.9K2.1M-6.5K0.50101.13N/AN/A4266514,843
2023-03-15$2.17$2.0081.8%23.5%0.0%0.0%0.0%-95.0%-21.3%-22.9K1.9M-7.4K0.00108.67N/AN/A02966814,842
2023-03-16$2.17$2.0069.7%20.0%0.0%0.0%70.1%-79.0%0.0%-24.9K2.1M-7.0K0.0093.56N/AN/A1066814,823
2023-03-17$2.15$2.0084.5%24.2%0.0%0.0%93.8%-65.7%11.1%-23.3K1.9M-6.9K2.67101.07N/AN/A61666814,823
2023-03-20$2.16$2.0053.2%15.3%0.0%0.0%0.0%-16.0%-13.2%-24.9K2.0M-6.9K0.0088.56N/AN/A0039514,319
2023-03-21$2.21$2.0053.4%15.3%0.0%0.0%67.5%-19.7%4.8%-26.2K1.9M-7.1K0.0087.42N/AN/A7039514,319
2023-03-22$2.26$2.0046.4%13.3%0.0%0.0%58.9%-9.9%18.2%-29.0K2.0M-7.0K0.0095.03N/AN/A42040014,044
2023-03-23$2.25$2.0053.4%15.3%0.0%0.0%0.0%-16.2%23.8%-25.8K2.0M-7.4K0.0083.69N/AN/A0041214,044
2023-03-24$2.29$2.0092.4%26.5%0.0%0.0%0.0%-21.9%-62.4%-27.7K2.3M-6.5K0.00101.69N/AN/A0241214,044
2023-03-27$2.29$2.0049.1%14.1%0.0%0.0%0.0%1.7%23.6%-30.1K2.1M-7.0K0.00101.54N/AN/A0341214,044
2023-03-28$2.33$2.0054.1%15.5%0.0%0.0%56.0%11.5%-1.5%-31.6K2.2M-6.9K0.0066.85N/AN/A3041214,044
2023-03-29$2.29$2.0060.0%17.2%0.0%0.0%0.0%-14.6%6.1%-30.7K2.1M-6.8K0.0076.97N/AN/A0041514,044
2023-03-30$2.29$2.0061.4%17.6%0.0%0.0%0.0%-15.0%-19.0%-30.8K2.3M-6.5K0.0030.17N/AN/A1041514,044
2023-03-31$2.29$2.0062.7%18.0%0.0%0.0%0.0%-10.9%4.5%-29.8K2.1M-7.0K0.0042.73N/AN/A1041614,044