TLT Options History — July 2009

In July 2009, TLT traded between $90.40 and $96.50. ATM implied volatility averaged 17.4%, placing in the 30.2% IV rank vs the trailing year. The 30-day expected move averaged 5.1%. IV traded below realized volatility by 1.1% (HV 20d: 18.5%). Max pain ranged from $91.00 to $95.00. Net GEX was positive for 20 of 22 trading days. Term structure was in contango for 22 of 22 days. Put/call ratio averaged 0.76.

Notable Days

  • 2009-07-08: Highest Volume — 28,976 contracts
  • 2009-07-13: Largest IV spike — 14.1% change
  • 2009-07-14: Highest IV Rank — 37.1%
  • 2009-07-15: Largest Expected Move — 5.8%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$93.28$90.40$96.50$94.08$94.81
Max Pain$93.45$91.00$95.00$91.00$92.00
ATM IV17.4%16.3%19.3%17.6%16.8%
Expected Move5.1%4.7%5.8%5.0%4.8%
HV 20d18.5%15.8%22.0%18.1%22.0%
HV 60d20.1%19.0%21.5%19.2%21.5%
IV Rank30.2%25.8%37.1%30.6%27.6%
IV Percentile30.4%17.9%46.4%35.7%21.4%
Term Structure0.7%0.0%1.7%1.4%0.6%
VWIV18.0%16.3%20.5%18.2%17.7%
Skew 25d1.3%0.6%2.2%1.7%0.7%
Skew 10d2.5%0.9%4.3%3.4%2.3%
Call IV 25d17.4%15.8%20.1%17.2%16.6%
Put IV 25d18.6%16.8%21.0%18.9%17.3%
Bid-Ask Spread %15.2611.7920.0013.8114.95
Gamma HHI0.110.070.210.100.09
Net GEX29.8M-4.3M66.0M48.0M18.8M
Net DEX126.9M-375.9M491.0M-30.3M44.2M
Net VEX-2.9M-3.3M-2.6M-3.3M-3.2M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.760.192.551.630.78
Total Volume13,761.1822,88528,97611,87123,123
Total OI310,126.591253,683341,487318,816315,348

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2009-07-01$94.08$91.0017.6%5.0%18.1%30.6%18.2%1.7%1.4%48.0M-30.3M-3.3M1.6313.81N/AN/A4,5137,358157,995160,821
2009-07-02$94.30$91.0016.6%4.8%16.1%27.1%16.4%1.4%1.7%54.7M-85.1M-3.0M0.4514.33N/AN/A2,7971,271159,500162,272
2009-07-06$94.12$94.0018.1%5.4%15.8%32.7%20.1%2.1%0.4%53.2M-38.1M-3.1M0.4820.00N/AN/A4,7892,306160,513162,968
2009-07-07$94.75$94.0018.3%5.4%15.8%33.4%18.7%2.2%0.8%56.3M-113.9M-3.2M0.3018.12N/AN/A5,7871,758160,193164,431
2009-07-08$96.50$94.0017.4%5.4%16.7%30.1%18.9%2.0%0.4%66.0M-375.9M-3.0M0.2314.66N/AN/A23,5515,425163,525165,168
2009-07-09$95.35$95.0016.4%5.3%16.1%26.3%18.3%1.8%0.8%63.6M-206.4M-2.9M0.7916.96N/AN/A7,2445,745162,271165,634
2009-07-10$96.23$95.0016.7%5.4%16.0%27.3%18.5%1.8%0.2%63.4M-298.9M-3.2M0.3413.73N/AN/A4,4171,497163,744167,304
2009-07-13$95.69$95.0019.0%5.3%16.2%35.8%18.7%1.7%0.3%64.8M-236.3M-3.0M0.8014.63N/AN/A2,6972,167165,013167,496
2009-07-14$94.10$95.0019.3%5.7%17.5%37.1%19.9%1.7%0.0%55.7M-10.2M-2.9M0.2314.81N/AN/A21,4464,864165,927168,384
2009-07-15$91.68$95.0019.2%5.8%19.1%36.5%20.5%0.9%0.3%27.2M323.6M-2.7M0.4815.06N/AN/A14,6906,991158,380171,323
2009-07-16$92.67$95.0019.3%5.5%19.4%36.9%19.3%1.4%0.6%37.8M204.3M-2.9M0.8215.92N/AN/A9,6477,889165,305175,158
2009-07-17$91.24$95.0018.3%5.2%19.4%33.2%18.2%1.1%1.2%22.3M415.9M-2.6M0.6817.21N/AN/A11,9138,061166,469175,018
2009-07-20$91.72$94.0017.3%5.0%18.9%29.8%17.6%1.3%0.6%1.6M350.3M-2.6M0.5918.75N/AN/A8,1364,761103,579150,104
2009-07-21$93.55$93.0016.4%4.7%19.9%26.5%16.7%0.6%0.8%6.5M230.3M-2.8M0.5414.53N/AN/A8,4664,552107,920153,371
2009-07-22$92.71$93.0016.3%4.7%19.7%25.9%16.3%1.0%1.2%6.5M281.0M-2.8M0.5515.33N/AN/A1,8661,019113,411155,718
2009-07-23$91.01$93.0016.3%4.7%20.5%25.8%16.5%0.9%1.2%971.9K401.0M-2.6M2.4613.59N/AN/A5,86014,443114,302156,191
2009-07-24$91.45$93.0016.3%4.7%19.3%25.9%16.4%0.7%1.0%-958.9K420.8M-2.9M2.5516.30N/AN/A1,5513,960116,447168,437
2009-07-27$90.40$93.0017.3%5.0%19.6%29.6%17.3%0.7%0.3%-4.3M491.0M-2.7M0.1911.79N/AN/A21,3873,984117,129170,185
2009-07-28$91.20$92.0017.3%5.0%19.9%29.6%17.3%0.6%0.3%1.2M410.3M-3.0M0.6812.73N/AN/A7,9325,389134,113172,277
2009-07-29$91.70$92.0016.9%4.9%20.1%28.3%17.0%0.8%0.5%3.4M369.7M-3.1M0.4514.06N/AN/A4,7252,112134,434174,817
2009-07-30$93.00$92.0016.6%4.8%20.8%27.1%17.0%0.6%0.6%9.5M244.5M-3.2M0.6714.53N/AN/A6,3734,284133,926176,264
2009-07-31$94.81$92.0016.8%4.8%22.0%27.6%17.7%0.7%0.6%18.8M44.2M-3.2M0.7814.95N/AN/A12,99010,133137,275178,073