TLT Options History — August 2007

In August 2007, TLT traded between $86.08 and $88.88. ATM implied volatility averaged 9.0%, placing in the 37.5% IV rank vs the trailing year. The 30-day expected move averaged 2.6%. IV traded below realized volatility by 0.0% (HV 20d: 9.0%). Max pain ranged from $86.00 to $87.00. Net GEX was positive for 23 of 23 trading days. Term structure was in contango for 8 of 23 days. Put/call ratio averaged 3.40.

Notable Days

  • 2007-08-28: Highest Volume — 13,462 contracts
  • 2007-08-17: Largest IV drop — 18.4% change
  • 2007-08-16: Highest IV Rank — 54.0%
  • 2007-08-16: Largest Expected Move — 3.0%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$87.29$86.08$88.88$87.13$88.88
Max Pain$86.87$86.00$87.00$86.00$87.00
ATM IV9.0%8.1%10.3%10.0%8.1%
Expected Move2.6%2.3%3.0%2.9%2.3%
HV 20d9.0%8.1%11.0%11.0%8.1%
HV 60d10.4%9.8%10.7%10.1%9.8%
IV Rank37.5%25.4%54.0%50.4%25.4%
IV Percentile73.5%49.1%93.6%93.1%49.1%
Term Structure-0.2%-2.4%1.9%-0.5%1.4%
VWIV9.0%8.1%10.2%8.8%9.1%
Skew 25d0.3%-0.8%2.6%2.6%-0.0%
Skew 10d1.3%-1.3%4.9%-0.3%2.1%
Call IV 25d8.9%7.2%10.0%7.2%9.5%
Put IV 25d9.3%8.1%10.0%9.9%9.4%
Bid-Ask Spread %52.1023.7187.0581.5227.52
Gamma HHI0.160.100.200.150.10
Net GEX23.3M6.2M51.0M18.1M23.3M
Net DEX-260.6M-467.3M-73.3M-259.5M-412.8M
Net VEX-3.5M-3.7M-3.1M-3.6M-3.5M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio3.400.0923.701.602.75
Total Volume5,006.91346713,4622,1892,834
Total OI265,230.783246,040286,183246,040286,183

Daily Data (23 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2007-08-01$87.13$86.0010.0%2.9%11.0%50.4%8.8%2.6%-0.5%18.1M-259.5M-3.6M1.6081.52N/AN/A8411,348124,433121,607
2007-08-02$87.35$86.009.4%2.7%9.9%42.5%10.2%0.4%-0.1%19.8M-281.7M-3.6M1.1923.71N/AN/A5,1166,098124,752121,924
2007-08-03$87.93$86.009.1%2.6%9.8%38.3%9.3%0.7%-0.2%19.4M-323.5M-3.6M1.2144.90N/AN/A1,6792,032126,331126,164
2007-08-06$87.29$87.009.3%2.8%10.4%41.8%9.1%0.1%-2.4%14.6M-255.8M-3.6M0.1361.80N/AN/A11,8481,510127,785128,050
2007-08-07$87.22$87.008.6%2.5%8.8%32.9%8.6%-0.2%-1.0%17.7M-265.1M-3.7M1.2344.97N/AN/A1,5801,937139,075128,951
2007-08-08$86.16$87.008.3%2.6%9.2%28.8%8.1%0.3%-1.5%10.8M-95.7M-3.7M3.1848.36N/AN/A1,8405,853140,081129,737
2007-08-09$86.28$87.008.9%2.7%9.0%35.7%9.0%0.5%-0.4%6.2M-96.5M-3.6M2.7841.99N/AN/A320889138,969129,631
2007-08-10$86.08$87.009.3%2.5%9.1%41.6%8.8%0.2%-0.6%9.9M-73.3M-3.5M4.7945.72N/AN/A3071,471139,010129,744
2007-08-13$86.33$87.0010.0%2.7%8.6%49.9%9.7%0.3%-1.5%10.8M-139.4M-3.6M8.5346.85N/AN/A49418139,110130,383
2007-08-14$86.56$87.008.4%2.6%8.5%29.6%9.0%0.5%-1.4%14.3M-149.9M-3.5M1.2128.44N/AN/A5,8297,042139,119130,622
2007-08-15$86.25$87.008.9%2.5%8.6%36.8%8.6%0.3%-0.4%19.1M-160.0M-3.4M0.5656.31N/AN/A1,214681144,406132,231
2007-08-16$87.14$87.0010.3%3.0%9.2%54.0%9.9%0.0%-1.6%20.1M-248.2M-3.5M0.9178.89N/AN/A3,4673,152144,982130,256
2007-08-17$86.79$87.008.4%2.4%8.9%29.8%8.7%-0.8%1.9%11.5M-181.1M-3.7M0.9087.05N/AN/A1,5941,436147,183132,185
2007-08-20$86.84$87.008.8%2.5%8.9%35.1%8.7%-0.3%0.8%25.0M-204.8M-3.7M0.2470.81N/AN/A1,017244138,813117,198
2007-08-21$87.26$87.009.3%2.7%9.0%41.8%9.4%0.8%0.6%28.2M-247.0M-3.5M0.3169.41N/AN/A2,989933139,368117,181
2007-08-22$87.12$87.008.9%2.5%9.0%35.8%8.8%-0.0%0.5%27.2M-209.5M-3.3M0.0947.51N/AN/A4,441389140,033117,730
2007-08-23$87.42$87.009.2%2.6%8.6%39.9%9.1%-0.0%-0.1%35.3M-291.9M-3.5M1.9865.14N/AN/A291575142,973117,928
2007-08-24$87.85$87.008.5%2.4%8.7%31.2%8.4%0.5%0.1%42.1M-362.7M-3.4M0.4959.05N/AN/A2,8071,367143,057118,099
2007-08-27$88.31$87.008.4%2.4%8.8%30.3%8.5%0.6%-0.1%51.0M-467.3M-3.1M0.9523.74N/AN/A444422143,712118,924
2007-08-28$88.46$87.009.1%2.6%8.4%39.1%9.1%0.6%-0.2%43.1M-454.3M-3.2M23.7025.82N/AN/A54512,917143,826118,962
2007-08-29$88.22$87.008.5%2.4%8.2%31.6%8.5%-0.0%0.7%31.2M-354.4M-3.4M2.1365.93N/AN/A447950144,099130,372
2007-08-30$88.81$87.009.3%2.7%8.4%40.9%9.5%0.7%0.4%36.0M-458.7M-3.4M17.4052.83N/AN/A65211,344144,155130,974
2007-08-31$88.88$87.008.1%2.3%8.1%25.4%9.1%-0.0%1.4%23.3M-412.8M-3.5M2.7527.52N/AN/A7562,078144,328141,855