TLT Options History — September 2009

In September 2009, TLT traded between $94.43 and $98.84. ATM implied volatility averaged 16.1%, placing in the 10.9% IV rank vs the trailing year. The 30-day expected move averaged 4.7%. IV traded above realized volatility by 0.2% (HV 20d: 15.9%). Max pain ranged from $95.00 to $97.00. Net GEX was positive for 18 of 21 trading days. Term structure was in contango for 21 of 21 days. Put/call ratio averaged 0.69.

Notable Days

  • 2009-09-08: Highest Volume — 34,318 contracts
  • 2009-09-10: Largest IV spike — 8.4% change
  • 2009-09-01: Highest IV Rank — 23.1%
  • 2009-09-14: Largest Expected Move — 5.0%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$96.47$94.43$98.84$96.06$98.66
Max Pain$96.14$95.00$97.00$95.00$97.00
ATM IV16.1%14.9%17.4%16.2%14.9%
Expected Move4.7%4.3%5.0%4.6%4.3%
HV 20d15.9%13.7%17.4%16.7%14.3%
HV 60d18.4%18.0%18.8%18.6%18.2%
IV Rank10.9%0.4%23.1%23.1%0.4%
IV Percentile9.6%1.2%25.4%8.7%1.2%
Term Structure0.8%0.3%1.3%0.8%1.3%
VWIV16.6%15.4%18.2%16.4%18.2%
Skew 25d0.7%0.2%1.2%0.4%0.9%
Skew 10d1.5%0.8%3.1%0.8%1.9%
Call IV 25d16.1%14.8%17.3%16.2%14.8%
Put IV 25d16.8%15.7%18.0%16.6%15.7%
Bid-Ask Spread %12.875.5617.046.8214.63
Gamma HHI0.100.090.130.090.09
Net GEX15.8M-8.6M30.3M11.1M27.5M
Net DEX23.4M-220.0M283.8M36.5M-192.4M
Net VEX-3.4M-3.8M-3.1M-3.2M-3.8M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.690.091.511.010.09
Total Volume19,578.6196,84334,3189,93233,740
Total OI378,247.762310,751443,171348,418372,788

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2009-09-01$96.06$95.0016.2%4.6%16.7%23.1%16.4%0.4%0.8%11.1M36.5M-3.2M1.016.82N/AN/A4,9484,984147,044201,374
2009-09-02$97.46$95.0016.0%4.6%16.0%22.4%15.9%0.2%1.3%21.3M-128.3M-3.3M0.678.02N/AN/A16,20210,830148,703203,548
2009-09-03$96.86$95.0016.0%4.6%16.3%21.3%16.1%0.8%1.1%13.4M-29.6M-3.2M0.715.56N/AN/A7,0094,954152,410211,256
2009-09-04$95.21$96.0015.4%4.9%17.4%16.8%16.9%1.2%1.0%-3.3M199.3M-3.1M0.7112.36N/AN/A10,5107,477156,772214,054
2009-09-08$94.54$96.0016.4%5.0%17.3%17.5%17.3%1.0%0.6%-8.6M283.8M-3.1M0.1112.06N/AN/A30,8283,490159,735215,847
2009-09-09$94.43$96.0015.7%4.8%16.9%12.3%17.1%0.7%0.9%-4.1M259.2M-3.3M1.2816.37N/AN/A5,1156,540185,329217,138
2009-09-10$96.17$96.0017.0%4.9%17.4%17.8%17.1%1.0%0.9%22.2M-38.1M-3.4M0.3912.09N/AN/A9,2233,604184,503220,532
2009-09-11$96.70$96.0017.1%4.9%16.9%17.5%17.2%0.9%0.6%30.3M-127.3M-3.4M1.5113.57N/AN/A13,21619,986188,210222,182
2009-09-14$95.74$97.0017.4%5.0%17.4%18.6%17.5%0.7%0.4%14.5M99.3M-3.6M0.4314.69N/AN/A12,8395,583194,524238,837
2009-09-15$95.25$97.0016.8%4.8%16.8%8.9%16.8%0.6%0.8%2.7M206.7M-3.4M0.3416.92N/AN/A20,6347,096191,444241,356
2009-09-16$95.42$97.0017.0%4.9%16.6%10.1%17.2%1.1%0.6%4.3M204.4M-3.4M0.6916.32N/AN/A6,8074,703190,868244,195
2009-09-17$96.62$96.0017.0%4.9%17.0%9.8%17.4%0.2%0.7%27.9M-58.4M-3.4M0.8513.29N/AN/A7,0365,964198,190243,877
2009-09-18$95.76$97.0016.4%4.7%17.1%7.3%16.4%0.7%1.1%25.5M121.8M-3.2M0.4211.77N/AN/A19,1208,035197,909245,262
2009-09-21$95.98$96.0015.8%4.5%15.2%4.3%16.4%0.7%0.8%13.2M136.9M-3.3M0.5317.04N/AN/A11,7136,264142,276168,475
2009-09-22$96.18$96.0015.9%4.6%13.9%5.0%16.2%0.7%0.7%16.9M79.1M-3.4M0.3315.96N/AN/A5,1321,711149,963172,140
2009-09-23$96.47$96.0015.8%4.5%13.8%4.6%16.2%0.3%0.7%19.6M54.9M-3.4M0.7014.40N/AN/A13,9289,793152,626172,893
2009-09-24$96.75$96.0015.7%4.5%13.7%3.8%15.8%0.8%0.3%23.6M-49.4M-3.3M1.4912.32N/AN/A8,62812,818162,819169,090
2009-09-25$97.98$96.0015.2%4.3%14.3%1.5%15.4%0.9%1.3%22.5M-139.9M-3.5M1.0613.43N/AN/A10,18510,789164,642178,714
2009-09-28$98.84$96.0015.4%4.4%14.5%2.4%16.0%0.7%0.8%24.3M-220.0M-3.7M0.7211.53N/AN/A9,2596,659169,831187,682
2009-09-29$98.75$97.0015.5%4.4%14.5%3.1%16.0%0.9%1.0%26.1M-206.3M-3.8M0.3511.02N/AN/A10,2053,594172,834191,331
2009-09-30$98.66$97.0014.9%4.3%14.3%0.4%18.2%0.9%1.3%27.5M-192.4M-3.8M0.0914.63N/AN/A31,0952,645179,881192,907