TSSI Options History — September 2025

In September 2025, TSSI traded between $12.47 and $18.52. ATM implied volatility averaged 108.3%, placing in the 11.9% IV rank vs the trailing year. The 30-day expected move averaged 31.1%. IV traded above realized volatility by 16.6% (HV 20d: 91.7%). Max pain ranged from $15.00 to $17.50. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 18 of 21 days. Put/call ratio averaged 0.30.

Notable Days

2025-09-22: Highest Volume — 19,620 contracts
2025-09-22: Largest IV spike — 9.7% change
2025-09-23: Highest IV Rank — 18.8%
2025-09-23: Largest Expected Move — 34.0%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$15.72	$12.47	$18.52	$12.98	$18.00
Max Pain	$15.60	$15.00	$17.50	$17.50	$17.50
ATM IV	108.3%	99.4%	118.7%	101.8%	114.6%
Expected Move	31.1%	28.8%	34.0%	29.2%	33.7%
HV 20d	91.7%	73.5%	112.7%	110.7%	85.1%
HV 60d	113.0%	108.9%	120.3%	120.3%	108.9%
IV Rank	11.9%	6.0%	18.8%	7.6%	16.1%
IV Percentile	25.6%	3.2%	46.8%	5.8%	41.5%
Term Structure	7.3%	-1.9%	12.4%	-0.1%	-0.9%
VWIV	110.4%	101.5%	122.3%	103.6%	120.1%
Skew 25d	-6.7%	-13.2%	-1.8%	-5.5%	-12.1%
Skew 10d	-11.0%	-27.5%	16.6%	-12.2%	-3.6%
Call IV 25d	113.5%	104.7%	127.2%	106.0%	122.4%
Put IV 25d	106.8%	99.1%	117.6%	100.5%	110.3%
Bid-Ask Spread %	39.74	24.14	54.35	35.73	28.40
Gamma HHI	0.18	0.13	0.37	0.14	0.14
Net GEX	354.8K	90.2K	616.4K	137.8K	414.5K
Net DEX	-24.3M	-45.2M	-2.5M	-4.9M	-39.6M
Net VEX	-144.3K	-194.4K	-96.3K	-102.3K	-194.4K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.30	0.04	0.97	0.54	0.22
Total Volume	7,371.19	1,746	19,620	5,547	1,746
Total OI	71,203.905	53,965	80,542	65,232	78,995

Daily Data (21 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
2025-09-02	$12.98	$17.50	101.8%	29.2%	110.7%	7.6%	103.6%	-5.5%	-0.1%	137.8K	-4.9M	-102.3K	0.54	35.73	N/A	N/A	3,598	1,949	47,967	17,265
2025-09-03	$12.47	$17.50	100.8%	28.9%	110.3%	6.9%	103.8%	-3.4%	0.7%	104.4K	-2.5M	-96.3K	0.50	43.63	N/A	N/A	2,696	1,341	47,469	17,839
2025-09-04	$12.80	$15.00	99.4%	28.8%	112.7%	6.0%	101.5%	-7.0%	10.3%	90.2K	-3.4M	-99.3K	0.67	47.33	N/A	N/A	1,539	1,026	46,972	18,534
2025-09-05	$13.54	$15.00	99.5%	28.9%	76.6%	6.0%	101.6%	-5.8%	10.3%	114.9K	-6.4M	-107.8K	0.27	39.81	N/A	N/A	2,818	759	47,254	18,737
2025-09-08	$13.59	$15.00	103.5%	29.2%	73.5%	8.7%	103.5%	-5.4%	10.1%	120.3K	-6.5M	-105.0K	0.16	53.77	N/A	N/A	2,452	399	47,887	18,767
2025-09-09	$14.46	$15.00	107.3%	29.5%	78.1%	11.2%	104.5%	-3.2%	9.9%	183.3K	-11.7M	-115.9K	0.19	54.35	N/A	N/A	5,533	1,046	49,148	18,822
2025-09-10	$16.00	$15.00	105.8%	30.3%	87.5%	10.2%	106.8%	-3.3%	7.2%	315.3K	-24.3M	-142.0K	0.13	35.74	N/A	N/A	13,639	1,764	52,641	17,975
2025-09-11	$15.74	$15.00	105.3%	30.2%	87.5%	9.9%	107.0%	-4.9%	7.1%	442.0K	-24.7M	-139.9K	0.12	49.99	N/A	N/A	5,128	623	57,345	17,349
2025-09-12	$15.71	$15.00	105.6%	30.3%	87.3%	10.1%	107.2%	-4.6%	8.4%	466.8K	-25.0M	-139.8K	0.23	47.58	N/A	N/A	5,648	1,289	58,453	17,475
2025-09-15	$16.13	$15.00	107.5%	30.8%	85.6%	11.4%	109.5%	-5.3%	7.4%	605.5K	-28.2M	-141.0K	0.09	39.71	N/A	N/A	6,909	651	60,365	17,440
2025-09-16	$14.59	$15.00	102.7%	29.4%	86.6%	8.1%	104.9%	-7.1%	11.6%	342.0K	-15.9M	-120.4K	0.04	31.56	N/A	N/A	12,565	490	60,543	17,475
2025-09-17	$15.26	$15.00	106.3%	30.5%	87.5%	10.6%	109.2%	-1.8%	9.6%	500.0K	-21.9M	-129.1K	0.13	42.13	N/A	N/A	7,263	915	59,199	17,386
2025-09-18	$15.15	$15.00	108.7%	31.2%	85.8%	12.1%	109.7%	-6.4%	10.8%	616.4K	-23.5M	-133.4K	0.15	44.20	N/A	N/A	3,791	553	62,386	17,256
2025-09-19	$15.98	$15.00	105.8%	30.3%	87.4%	10.2%	107.9%	-3.1%	11.9%	322.8K	-31.8M	-143.1K	0.12	53.11	N/A	N/A	9,178	1,127	63,419	17,123
2025-09-22	$18.36	$15.00	116.1%	33.3%	99.9%	17.1%	119.0%	-11.2%	10.3%	399.4K	-38.4M	-168.5K	0.22	40.01	N/A	N/A	16,084	3,536	44,075	9,890
2025-09-23	$18.21	$15.00	118.7%	34.0%	99.2%	18.8%	122.3%	-9.3%	11.6%	474.1K	-42.3M	-186.4K	0.33	26.68	N/A	N/A	9,117	2,986	51,687	12,652
2025-09-24	$17.40	$15.00	117.8%	33.8%	98.8%	18.2%	118.9%	-13.2%	12.4%	438.1K	-37.8M	-186.4K	0.81	43.10	N/A	N/A	3,366	2,718	53,370	15,061
2025-09-25	$17.54	$15.00	117.8%	34.0%	98.3%	18.2%	120.8%	-10.5%	0.5%	415.6K	-37.7M	-191.1K	0.33	24.14	N/A	N/A	3,895	1,275	54,166	17,313
2025-09-26	$17.70	$17.50	114.9%	33.0%	98.2%	16.3%	116.8%	-9.8%	-1.9%	442.3K	-39.3M	-194.3K	0.11	28.96	N/A	N/A	3,842	438	55,183	18,459
2025-09-29	$18.52	$17.50	114.4%	33.5%	88.6%	15.9%	120.2%	-8.6%	6.6%	505.1K	-45.2M	-194.3K	0.97	24.52	N/A	N/A	4,619	4,484	55,353	18,587
2025-09-30	$18.00	$17.50	114.6%	33.7%	85.1%	16.1%	120.1%	-12.1%	-0.9%	414.5K	-39.6M	-194.4K	0.22	28.40	N/A	N/A	1,429	317	56,289	22,706