TRX Options History — November 2025

In November 2025, TRX traded between $0.54 and $0.72. ATM implied volatility averaged 266.7%, placing in the 51.9% IV rank vs the trailing year. The 30-day expected move averaged 65.3%. IV traded above realized volatility by 168.5% (HV 20d: 98.2%). Max pain ranged from $0.50 to $2.50. Net GEX was positive for 6 of 19 trading days. Term structure was in contango for 7 of 19 days. Put/call ratio averaged 0.02.

Notable Days

2025-11-26: Highest Volume — 1,224 contracts
2025-11-12: Largest IV spike — 145.3% change
2025-11-19: Highest IV Rank — 93.9%
2025-11-04: Largest Expected Move — 84.0%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$0.64	$0.54	$0.72	$0.59	$0.72
Max Pain	$1.92	$0.50	$2.50	$2.50	$0.50
ATM IV	266.7%	107.3%	470.0%	268.5%	276.0%
Expected Move	65.3%	30.8%	84.0%	77.0%	79.1%
HV 20d	98.2%	87.4%	127.4%	123.8%	95.2%
HV 60d	94.9%	86.5%	98.5%	86.5%	98.2%
IV Rank	51.9%	19.0%	93.9%	52.3%	53.8%
IV Percentile	36.2%	0.4%	97.2%	27.4%	33.9%
Term Structure	-53.7%	-375.5%	243.5%	-55.3%	35.3%
VWIV	243.0%	123.5%	380.4%	269.0%	123.5%
Skew 25d	71.2%	7.3%	161.6%	18.6%	7.3%
Skew 10d	115.2%	103.7%	126.6%	103.7%	126.6%
Call IV 25d	132.5%	97.5%	165.2%	163.5%	165.2%
Put IV 25d	203.8%	172.5%	290.4%	182.1%	172.5%
Bid-Ask Spread %	102.44	21.99	148.64	25.48	128.85
Gamma HHI	0.96	0.89	1.00	0.89	0.91
Net GEX	6	0	105	0	0
Net DEX	155	-427	3.4K	-413	-0
Net VEX	1	0	11	0	0
P/C Ratio	0.02	0.00	0.22	0.00	0.00
Total Volume	155.158	15	1,224	55	262
Total OI	12,539.632	12,021	13,886	12,171	13,886

Daily Data (19 trading days)

Date	Price	Max Pain	ATM IV	Exp Move	HV 20d	IV Rank	VWIV	Skew 25d	Term Str	GEX	DEX	VEX	P/C	Spread %	Call Wall	Put Wall	Call Vol	Put Vol	Call OI	Put OI
2025-11-03	$0.59	$2.50	268.5%	77.0%	123.8%	52.3%	0.0%	0.0%	-55.3%	0	-413	0	0.00	25.48	N/A	N/A	55	0	11,754	417
2025-11-04	$0.54	$2.50	293.2%	84.0%	127.4%	57.4%	0.0%	0.0%	-63.6%	0	-378	0	0.00	24.68	N/A	N/A	70	0	11,717	334
2025-11-05	$0.61	$2.50	260.6%	74.7%	96.0%	50.7%	269.0%	0.0%	-64.4%	0	-427	0	0.22	21.99	N/A	N/A	37	8	11,767	254
2025-11-06	$0.57	$2.50	288.5%	79.1%	97.9%	56.4%	0.0%	0.0%	-74.0%	0	0	0	0.00	97.31	N/A	N/A	207	0	11,792	264
2025-11-07	$0.59	$2.50	304.0%	56.4%	97.7%	59.6%	0.0%	0.0%	-73.6%	0	0	0	0.03	110.81	N/A	N/A	76	2	11,798	263
2025-11-10	$0.62	$2.50	288.6%	82.7%	97.5%	56.4%	243.3%	0.0%	-75.5%	0	0	0	0.00	28.23	N/A	N/A	15	0	11,839	265
2025-11-11	$0.62	$2.50	135.1%	0.0%	88.4%	24.8%	0.0%	0.0%	33.9%	0	0	0	0.00	124.72	N/A	N/A	18	0	12,190	265
2025-11-12	$0.70	$2.50	331.5%	0.0%	100.8%	65.3%	350.3%	0.0%	-375.5%	6	744	2	0.00	148.64	N/A	N/A	85	0	12,204	265
2025-11-13	$0.67	$2.50	0.0%	0.0%	101.0%	0.0%	259.7%	0.0%	-266.2%	0	0	0	0.00	139.07	N/A	N/A	60	0	12,272	265
2025-11-14	$0.65	$2.50	356.4%	0.0%	96.4%	70.4%	0.0%	18.6%	-83.1%	0	0	0	0.00	131.49	N/A	N/A	43	0	12,330	265
2025-11-17	$0.63	$2.50	219.2%	0.0%	92.9%	42.1%	0.0%	41.7%	35.6%	0	0	0	0.00	124.50	N/A	N/A	32	0	12,361	265
2025-11-18	$0.62	$2.50	356.9%	0.0%	87.4%	70.5%	192.4%	68.8%	243.5%	0	0	0	0.00	131.27	N/A	N/A	317	0	12,342	265
2025-11-19	$0.66	$1.00	470.0%	0.0%	90.6%	93.9%	0.0%	45.5%	37.0%	0	0	0	0.00	138.95	N/A	N/A	24	0	12,649	265
2025-11-20	$0.62	$1.00	424.6%	0.0%	92.8%	84.5%	380.4%	120.3%	-248.5%	0	0	0	0.00	141.23	N/A	N/A	75	0	12,659	265
2025-11-21	$0.62	$1.00	108.3%	0.0%	92.8%	19.3%	229.9%	0.0%	-80.2%	0	0	0	0.08	120.47	N/A	N/A	65	5	12,648	265
2025-11-24	$0.66	$1.00	132.6%	38.0%	95.3%	24.3%	137.9%	91.2%	-1.8%	0	0	0	0.00	102.24	N/A	N/A	16	0	12,279	256
2025-11-25	$0.69	$1.00	107.3%	30.8%	96.5%	19.0%	0.0%	86.0%	25.6%	2	29	0	0.02	86.65	N/A	N/A	247	5	12,284	256
2025-11-26	$0.71	$1.00	179.6%	51.5%	95.4%	34.0%	123.5%	161.6%	29.8%	105	3.4K	11	0.00	119.84	N/A	N/A	1,218	6	12,527	261
2025-11-28	$0.72	$0.50	276.0%	79.1%	95.2%	53.8%	0.0%	7.3%	35.3%	0	-0	0	0.00	128.85	N/A	N/A	262	0	13,619	267