TLT Options History — March 2015

In March 2015, TLT traded between $123.59 and $132.62. ATM implied volatility averaged 15.2%, placing in the 50.7% IV rank vs the trailing year. The 30-day expected move averaged 4.4%. IV traded below realized volatility by 1.2% (HV 20d: 16.3%). Max pain ranged from $129.00 to $133.00. Net GEX was positive for 8 of 22 trading days. Term structure was in contango for 7 of 22 days. Put/call ratio averaged 1.22.

Notable Days

  • 2015-03-06: Highest Volume — 186,367 contracts
  • 2015-03-18: Largest IV drop — 6.2% change
  • 2015-03-02: Highest IV Rank — 59.6%
  • 2015-03-02: Largest Expected Move — 4.8%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$128.61$123.59$132.62$126.88$130.57
Max Pain$130.73$129.00$133.00$131.50$131.00
ATM IV15.2%14.3%16.2%16.2%15.7%
Expected Move4.4%4.1%4.8%4.8%4.4%
HV 20d16.3%14.6%17.6%16.0%15.8%
HV 60d16.9%16.5%17.2%16.7%17.1%
IV Rank50.7%43.1%59.6%59.6%54.6%
IV Percentile83.3%77.0%93.7%93.7%86.1%
Term Structure-0.0%-0.5%0.6%-0.2%-0.3%
VWIV15.4%14.2%17.1%17.0%15.1%
Skew 25d-0.4%-0.8%-0.1%-0.3%-0.6%
Skew 10d-0.8%-1.5%0.2%-0.3%-1.0%
Call IV 25d15.6%14.7%16.6%16.6%16.0%
Put IV 25d15.2%14.2%16.3%16.3%15.4%
Bid-Ask Spread %12.567.2836.0812.8611.12
Gamma HHI0.090.060.220.090.07
Net GEX-31.6M-172.1M173.9M-109.6M-11.2M
Net DEX201.1M-1.07B2.16B905.1M-415.1M
Net VEX-8.8M-9.6M-7.8M-9.6M-9.6M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.220.391.771.500.84
Total Volume67,778.36436,161186,36775,13341,370
Total OI741,334.773563,539881,873722,138675,383

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2015-03-02$126.88$131.5016.2%4.8%16.0%59.6%17.0%-0.3%-0.2%-109.6M905.1M-9.6M1.5012.86N/AN/A30,03445,099312,576409,562
2015-03-03$126.50$131.0016.2%4.7%16.0%59.1%16.8%-0.1%-0.5%-160.2M1.08B-9.4M1.609.79N/AN/A26,66142,612317,066429,394
2015-03-04$126.55$131.0015.3%4.5%14.7%52.2%17.1%-0.1%-0.5%-164.1M1.03B-9.0M1.1111.88N/AN/A42,35546,903319,141429,264
2015-03-05$126.22$133.0015.2%4.3%14.6%51.0%14.7%-0.1%-0.4%-172.1M1.13B-9.3M1.3917.04N/AN/A30,64442,700330,434440,962
2015-03-06$123.59$132.0014.6%4.2%15.7%45.5%15.0%-0.1%0.2%-154.1M2.16B-8.6M1.2310.12N/AN/A83,751102,616339,180446,425
2015-03-09$124.64$131.0014.9%4.2%15.6%48.8%15.1%-0.1%-0.1%-126.1M1.38B-8.7M1.519.07N/AN/A16,92225,548334,663414,111
2015-03-10$126.28$130.0015.5%4.4%16.5%53.7%15.5%-0.5%-0.2%-99.8M881.7M-9.0M0.649.77N/AN/A28,48618,175339,829426,084
2015-03-11$127.20$130.0015.7%4.4%16.6%55.2%15.8%-0.4%-0.3%-73.5M551.3M-8.8M1.4012.60N/AN/A19,99328,079345,465430,998
2015-03-12$127.11$130.0015.4%4.4%16.6%53.1%15.7%-0.4%-0.2%-88.6M545.5M-9.0M0.7424.03N/AN/A41,35230,617349,715438,842
2015-03-13$126.72$130.0015.1%4.3%16.6%50.2%15.2%-0.8%-0.2%-116.5M718.7M-9.4M1.3610.35N/AN/A18,69825,367372,788452,799
2015-03-16$127.94$130.0015.5%4.4%16.6%53.5%15.5%-0.4%-0.2%-63.0M358.8M-8.3M1.5910.70N/AN/A16,24625,875358,829439,301
2015-03-17$129.00$130.0015.8%4.5%15.9%56.5%15.9%-0.2%-0.2%-19.9M8.8M-8.4M0.818.56N/AN/A25,30520,495364,382448,804
2015-03-18$131.49$129.0014.9%4.3%17.1%48.1%15.0%-0.3%-0.1%133.1M-961.6M-8.4M1.1236.08N/AN/A60,05567,417376,212457,523
2015-03-19$130.82$129.0015.1%4.3%17.1%49.8%15.2%-0.4%-0.0%117.9M-787.7M-8.7M1.2113.77N/AN/A34,84842,012396,042469,937
2015-03-20$131.51$130.0014.3%4.1%17.1%43.1%14.5%-0.5%0.3%173.9M-1.07B-8.5M0.639.94N/AN/A39,82525,015397,809484,064
2015-03-23$131.35$130.0014.4%4.1%16.8%44.5%14.2%-0.5%0.5%69.4M-736.4M-7.9M1.498.90N/AN/A24,16836,075256,866306,673
2015-03-24$132.62$131.0014.5%4.2%16.6%45.3%15.2%-0.4%0.4%91.8M-982.8M-7.8M1.047.28N/AN/A27,18828,161270,498330,407
2015-03-25$131.50$132.0014.5%4.3%16.9%45.3%15.2%-0.5%0.6%49.2M-683.4M-9.0M1.699.80N/AN/A13,42022,741282,231348,234
2015-03-26$129.46$132.0014.6%4.3%17.2%45.2%15.2%-0.7%0.5%-35.2M81.4M-8.7M1.7711.06N/AN/A29,22251,662285,166359,893
2015-03-27$131.06$131.5014.8%4.4%17.6%46.8%15.2%-0.6%0.4%59.0M-442.0M-8.7M0.3912.25N/AN/A54,77721,533288,590371,585
2015-03-30$130.35$131.0015.6%4.5%15.9%53.5%15.5%-0.7%-0.2%4.5M-324.9M-9.1M1.729.34N/AN/A13,62623,476308,327353,311
2015-03-31$130.57$131.0015.7%4.4%15.8%54.6%15.1%-0.6%-0.3%-11.2M-415.1M-9.6M0.8411.12N/AN/A22,45818,912311,478363,905