USRT Options History — January 2022

In January 2022, USRT traded between $60.68 and $67.47. ATM implied volatility averaged 22.8%, placing in the 46.0% IV rank vs the trailing year. The 30-day expected move averaged 6.3%. IV traded above realized volatility by 7.6% (HV 20d: 15.3%). Max pain ranged from $59.00 to $66.00. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 7 of 20 days. Put/call ratio averaged 0.31.

Notable Days

2022-01-19: Highest Volume — 51 contracts
2022-01-26: Largest IV spike — 44.1% change
2022-01-26: Highest IV Rank — 100.0%
2022-01-26: Largest Expected Move — 10.9%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$64.07	$60.68	$67.47	$67.06	$62.55
Max Pain	$61.05	$59.00	$66.00	$66.00	$61.00
ATM IV	22.8%	17.6%	38.1%	21.5%	21.5%
Expected Move	6.3%	5.0%	10.9%	6.2%	6.2%
HV 20d	15.3%	14.0%	16.6%	16.3%	16.5%
HV 60d	15.8%	14.9%	16.9%	15.0%	16.9%
IV Rank	46.0%	26.6%	100.0%	41.6%	39.3%
IV Percentile	75.3%	40.6%	100.0%	77.8%	74.0%
Term Structure	-2.4%	-19.1%	1.4%	-3.4%	-1.4%
VWIV	22.4%	17.7%	45.1%	18.4%	22.3%
Skew 25d	4.1%	1.2%	10.7%	2.9%	3.4%
Skew 10d	2.7%	-6.2%	9.4%	4.9%	3.1%
Call IV 25d	20.6%	16.3%	39.0%	20.4%	22.7%
Put IV 25d	24.7%	18.6%	47.9%	23.2%	26.1%
Bid-Ask Spread %	123.38	115.53	138.04	120.98	122.25
Gamma HHI	0.29	0.18	0.43	0.40	0.29
Net GEX	4.4K	1.2K	8.2K	6.2K	2.7K
Net DEX	-35.1K	-88.6K	-4.1K	-74.6K	-11.6K
Net VEX	-211	-252	-173	-220	-205
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.31	0.29	0.37	0.29	0.37
Total Volume	48.75	44	51	49	48
Total OI	26.2	18	31	25	21

Daily Data (20 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
2022-01-03	$67.06	$66.00	21.5%	6.2%	16.3%	41.6%	18.4%	2.9%	-3.4%	6.2K	-74.6K	-220	0.29	120.98	N/A	N/A	38	11	19	6
2022-01-04	$67.47	$59.00	18.9%	5.4%	14.4%	31.7%	20.9%	1.2%	-1.4%	6.1K	-88.6K	-237	0.29	125.15	N/A	N/A	38	11	21	7
2022-01-05	$66.02	$59.00	20.3%	5.8%	16.6%	36.9%	23.0%	5.2%	-5.4%	6.4K	-69.9K	-233	0.29	122.95	N/A	N/A	38	11	20	7
2022-01-06	$66.01	$61.00	20.3%	5.0%	15.9%	37.2%	17.7%	2.4%	1.2%	8.2K	-63.4K	-238	0.32	121.30	N/A	N/A	38	12	20	7
2022-01-07	$65.48	$61.00	21.9%	5.2%	15.6%	43.3%	19.5%	1.8%	-0.5%	6.0K	-54.1K	-252	0.32	123.39	N/A	N/A	38	12	20	9
2022-01-10	$64.88	$61.00	23.1%	5.4%	15.9%	47.7%	18.4%	2.0%	1.0%	4.9K	-38.3K	-241	0.32	121.33	N/A	N/A	38	12	20	10
2022-01-11	$65.25	$61.00	22.9%	5.1%	15.9%	47.1%	18.7%	1.4%	1.4%	6.1K	-47.5K	-230	0.32	117.36	N/A	N/A	38	12	20	10
2022-01-12	$65.34	$61.00	21.1%	6.1%	15.1%	40.2%	24.4%	4.9%	-3.8%	5.5K	-49.7K	-236	0.32	135.63	N/A	N/A	38	12	20	10
2022-01-13	$65.46	$61.00	17.6%	5.1%	14.8%	26.6%	20.3%	1.6%	-0.1%	5.3K	-50.3K	-225	0.32	124.64	N/A	N/A	38	12	20	10
2022-01-14	$65.01	$61.00	17.7%	5.1%	15.0%	27.0%	17.7%	1.8%	1.3%	6.3K	-44.3K	-219	0.32	120.84	N/A	N/A	38	12	20	10
2022-01-18	$64.26	$61.00	21.4%	6.1%	15.5%	41.2%	23.4%	5.5%	-0.7%	4.7K	-28.3K	-208	0.32	116.90	N/A	N/A	38	12	20	10
2022-01-19	$63.71	$61.00	18.7%	5.4%	15.3%	30.8%	20.6%	2.4%	0.8%	4.0K	-23.6K	-199	0.31	119.33	N/A	N/A	39	12	20	10
2022-01-20	$62.91	$61.00	20.0%	5.7%	15.2%	35.7%	20.6%	2.2%	0.5%	3.3K	-12.6K	-187	0.31	120.32	N/A	N/A	39	12	21	10
2022-01-21	$62.41	$61.00	24.0%	6.9%	14.4%	51.2%	24.1%	3.4%	-2.1%	2.3K	-4.1K	-181	0.31	127.31	N/A	N/A	39	12	21	10
2022-01-24	$61.81	$61.00	25.1%	7.2%	14.6%	55.5%	20.4%	7.5%	-1.4%	2.2K	-10.1K	-173	0.29	115.53	N/A	N/A	34	10	12	6
2022-01-25	$62.34	$61.00	26.4%	7.6%	14.4%	60.7%	24.3%	4.8%	0.5%	1.9K	-15.0K	-175	0.32	127.50	N/A	N/A	34	11	12	6
2022-01-26	$61.28	$61.00	38.1%	10.9%	14.8%	100.0%	45.1%	8.9%	-19.1%	1.2K	-7.2K	-193	0.31	138.04	N/A	N/A	35	11	12	7
2022-01-27	$60.68	$61.00	33.1%	9.5%	14.0%	81.7%	24.6%	10.7%	-12.7%	1.7K	-4.7K	-187	0.31	122.93	N/A	N/A	35	11	13	7
2022-01-28	$61.54	$61.00	23.1%	6.6%	15.3%	45.3%	23.8%	7.4%	-2.9%	2.2K	-5.2K	-180	0.31	123.95	N/A	N/A	35	11	13	7
2022-01-31	$62.55	$61.00	21.5%	6.2%	16.5%	39.3%	22.3%	3.4%	-1.4%	2.7K	-11.6K	-205	0.37	122.25	N/A	N/A	35	13	13	8