TLT Options History — April 2008

In April 2008, TLT traded between $91.82 and $95.67. ATM implied volatility averaged 13.4%, placing in the 55.2% IV rank vs the trailing year. The 30-day expected move averaged 3.9%. IV traded below realized volatility by 1.1% (HV 20d: 14.6%). Max pain ranged from $93.00 to $96.00. Net GEX was positive for 0 of 22 trading days. Term structure was in contango for 17 of 22 days. Put/call ratio averaged 6.30.

Notable Days

  • 2008-04-11: Highest Volume — 87,110 contracts
  • 2008-04-10: Largest IV spike — 8.3% change
  • 2008-04-02: Highest IV Rank — 64.9%
  • 2008-04-02: Largest Expected Move — 4.2%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$93.73$91.82$95.67$93.93$93.11
Max Pain$94.68$93.00$96.00$96.00$93.00
ATM IV13.4%12.4%14.7%13.7%12.7%
Expected Move3.9%3.6%4.2%3.9%3.7%
HV 20d14.6%9.9%18.2%18.2%10.3%
HV 60d16.0%15.2%16.6%16.4%15.2%
IV Rank55.2%47.7%64.9%56.8%50.0%
IV Percentile64.3%56.3%76.2%68.3%56.7%
Term Structure0.4%-0.6%3.1%3.1%0.2%
VWIV13.7%12.4%14.9%14.1%12.7%
Skew 25d0.8%-0.1%1.8%-0.1%1.0%
Skew 10d0.8%-1.4%3.6%-0.4%3.6%
Call IV 25d13.4%11.9%14.5%14.5%12.6%
Put IV 25d14.2%13.5%15.1%14.4%13.7%
Bid-Ask Spread %23.9018.0336.3227.4821.00
Gamma HHI0.170.120.300.170.16
Net GEX-102.2M-158.3M-79.0M-100.1M-84.5M
Net DEX787.3M539.9M956.5M833.4M765.9M
Net VEX-5.5M-6.8M-4.6M-5.9M-5.5M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio6.300.2429.773.771.07
Total Volume16,847.4094,31887,11011,4605,579
Total OI329,537.227294,420423,877321,859317,453

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2008-04-01$93.93$96.0013.7%3.9%18.2%56.8%14.1%-0.1%3.1%-100.1M833.4M-5.9M3.7727.48N/AN/A2,4029,05846,700275,159
2008-04-02$94.13$96.0014.7%4.2%17.8%64.9%14.6%0.1%1.1%-98.9M785.3M-5.7M2.7222.12N/AN/A1,1613,15747,158272,201
2008-04-03$94.34$96.0013.7%3.9%17.1%57.3%13.7%0.1%1.4%-101.9M768.3M-5.6M29.7720.27N/AN/A1,15034,24048,150273,194
2008-04-04$95.20$95.0013.3%4.1%17.3%54.5%13.8%1.4%0.1%-104.2M540.9M-4.6M1.3835.10N/AN/A4,8116,62348,322271,765
2008-04-07$94.70$95.0013.7%4.1%17.5%56.9%14.9%0.6%0.3%-101.8M690.0M-5.3M9.4836.32N/AN/A1,79917,04851,530271,880
2008-04-08$94.37$95.0013.2%4.1%16.8%53.6%14.5%1.3%-0.2%-108.1M751.3M-5.5M7.6327.11N/AN/A9187,00652,084284,102
2008-04-09$95.35$95.0013.2%4.0%16.8%53.0%14.4%0.2%0.3%-92.6M616.2M-5.5M7.6923.15N/AN/A4,13931,82452,423288,315
2008-04-10$95.03$95.0014.2%4.1%15.5%61.2%14.3%0.2%-0.1%-93.1M639.8M-5.4M4.2625.83N/AN/A1,2415,28454,912287,619
2008-04-11$95.67$95.0013.8%3.9%15.3%57.6%13.9%0.1%0.3%-79.0M539.9M-5.4M27.5118.03N/AN/A3,05584,05555,263289,040
2008-04-14$95.11$95.0014.0%4.0%14.9%59.4%13.9%0.4%-0.4%-115.7M861.9M-6.8M18.9520.38N/AN/A1,34025,39156,487367,390
2008-04-15$93.93$95.0014.2%4.1%15.3%61.1%14.1%0.1%-0.6%-115.0M791.0M-5.5M2.2522.12N/AN/A3,8888,76456,789291,256
2008-04-16$93.01$95.0013.3%3.8%15.6%54.3%13.6%1.6%0.8%-148.1M951.6M-5.5M1.4630.82N/AN/A6,6979,79858,253291,013
2008-04-17$92.85$95.0014.2%4.1%14.1%61.2%14.1%0.9%0.1%-158.3M953.1M-5.5M4.2720.24N/AN/A2,0768,86062,619292,018
2008-04-18$92.77$95.0013.3%3.8%14.0%54.2%13.4%1.3%0.6%-155.3M956.5M-5.5M6.2723.23N/AN/A3,90024,44763,450293,280
2008-04-21$93.14$94.0012.5%3.6%12.6%47.9%12.4%1.0%1.4%-80.9M767.8M-5.4M1.1020.64N/AN/A3,0933,40047,751246,791
2008-04-22$93.46$94.0013.0%3.7%12.5%51.6%12.6%1.2%0.2%-80.7M737.5M-5.4M1.3120.74N/AN/A2,2042,89347,741246,679
2008-04-23$93.15$94.0012.9%3.7%12.5%51.5%13.2%0.6%0.6%-80.6M781.2M-5.5M0.9121.44N/AN/A2,5852,34950,483249,497
2008-04-24$92.36$94.0013.1%3.8%12.6%52.9%13.5%1.2%0.1%-83.1M873.2M-5.4M4.0323.04N/AN/A3,85315,53652,229249,601
2008-04-25$91.82$94.0012.4%3.6%12.0%47.7%12.6%1.8%0.3%-89.4M948.7M-5.4M1.2418.94N/AN/A2,6023,22154,452256,250
2008-04-28$92.10$94.0013.1%3.8%12.0%52.6%13.5%1.4%-0.1%-89.8M904.4M-5.5M1.3129.31N/AN/A2,0672,71855,999257,340
2008-04-29$92.45$93.0013.3%3.8%9.9%54.2%13.3%1.5%0.4%-86.7M862.1M-5.4M0.2418.60N/AN/A3,55186057,471257,710
2008-04-30$93.11$93.0012.7%3.7%10.3%50.0%12.7%1.0%0.2%-84.5M765.9M-5.5M1.0721.00N/AN/A2,6902,88959,670257,783