TLT Options History — April 2018

In April 2018, TLT traded between $117.18 and $121.84. ATM implied volatility averaged 9.4%, placing in the 11.7% IV rank vs the trailing year. The 30-day expected move averaged 2.7%. IV traded above realized volatility by 0.7% (HV 20d: 8.7%). Max pain ranged from $120.00 to $121.00. Net GEX was positive for 11 of 21 trading days. Term structure was in contango for 11 of 21 days. Put/call ratio averaged 1.49.

Notable Days

  • 2018-04-19: Highest Volume — 152,629 contracts
  • 2018-04-19: Largest IV spike — 9.3% change
  • 2018-04-02: Highest IV Rank — 32.1%
  • 2018-04-25: Largest Expected Move — 3.0%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$119.96$117.18$121.84$121.84$119.18
Max Pain$120.67$120.00$121.00$120.00$120.00
ATM IV9.4%8.5%10.9%10.9%9.2%
Expected Move2.7%2.4%3.0%3.0%2.6%
HV 20d8.7%7.6%9.6%7.6%9.2%
HV 60d9.9%9.4%10.1%9.9%9.4%
IV Rank11.7%0.0%32.1%32.1%10.6%
IV Percentile24.7%0.0%81.0%81.0%11.9%
Term Structure0.0%-0.6%0.4%-0.6%-0.3%
VWIV9.5%8.8%10.6%10.6%9.4%
Skew 25d0.2%-0.4%0.9%-0.4%0.9%
Skew 10d0.5%-0.4%1.8%-0.0%1.3%
Call IV 25d9.5%8.6%10.8%10.8%8.8%
Put IV 25d9.6%8.8%10.9%10.4%9.7%
Bid-Ask Spread %9.413.8223.9223.927.40
Gamma HHI0.090.060.120.090.07
Net GEX-31.7M-269.8M136.8M120.3M14.1M
Net DEX694.5M-945.1M2.55B-945.1M836.4M
Net VEX-23.9M-24.7M-23.4M-23.8M-24.5M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.490.503.520.502.02
Total Volume95,437.42946,309152,62994,82064,303
Total OI1,337,145.4291,189,5011,459,5641,189,5011,317,254

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2018-04-02$121.84$120.0010.9%3.0%7.6%32.1%10.6%-0.4%-0.6%120.3M-945.1M-23.8M0.5023.92N/AN/A63,12431,696528,408661,093
2018-04-03$120.91$120.0010.1%2.7%8.2%20.8%9.6%-0.1%-0.0%60.1M-241.3M-24.4M0.849.48N/AN/A50,65442,745561,278673,187
2018-04-04$120.66$120.009.8%2.7%8.2%15.4%9.4%0.2%0.1%18.2M95.5M-24.3M0.9817.47N/AN/A42,40541,434572,990688,052
2018-04-05$119.80$121.009.4%2.7%8.7%9.8%9.4%0.1%-0.0%-110.1M916.2M-23.7M2.358.86N/AN/A26,61062,490583,528704,200
2018-04-06$121.00$121.009.6%2.7%9.2%12.9%9.7%-0.1%-0.1%91.6M-92.8M-24.6M2.505.11N/AN/A35,33888,351588,359724,276
2018-04-09$121.12$121.009.5%2.7%8.8%11.1%9.4%-0.2%-0.2%33.0M-144.6M-24.2M1.749.32N/AN/A24,26142,256582,892748,358
2018-04-10$121.03$121.009.1%2.6%8.6%5.0%9.0%-0.3%-0.1%30.7M-51.9M-23.8M3.5211.36N/AN/A16,92559,640588,906749,604
2018-04-11$121.49$121.008.8%2.5%8.5%0.9%8.9%-0.1%-0.0%129.2M-530.7M-23.6M1.155.05N/AN/A26,65330,526596,363758,131
2018-04-12$120.64$121.009.0%2.6%8.6%3.4%9.2%0.0%0.0%-35.5M317.9M-23.6M1.087.13N/AN/A39,83142,834601,040763,178
2018-04-13$120.87$121.008.7%2.5%8.6%0.0%8.9%-0.0%-0.0%2.8M33.3M-23.9M0.8614.98N/AN/A39,73434,054621,413784,615
2018-04-16$120.87$121.008.9%2.5%8.4%2.0%9.0%0.1%-0.0%33.7M84.8M-23.6M1.078.28N/AN/A22,33323,976614,562764,711
2018-04-17$121.33$121.008.5%2.4%8.4%0.0%8.8%0.1%0.1%136.8M-418.1M-23.4M1.7710.42N/AN/A22,13139,072620,834772,180
2018-04-18$120.37$121.008.8%2.5%8.9%5.2%9.6%0.4%0.1%-57.2M605.4M-23.4M2.0810.97N/AN/A32,31267,294628,923775,010
2018-04-19$119.22$121.009.7%2.8%9.6%17.0%9.8%0.3%0.0%-269.8M1.93B-23.6M1.396.75N/AN/A63,74688,883634,365808,182
2018-04-20$118.48$121.009.5%2.7%9.1%15.0%9.7%0.4%0.1%-226.0M2.48B-23.4M1.003.82N/AN/A65,98765,759650,921808,643
2018-04-23$118.49$121.009.5%2.8%9.1%14.8%9.7%0.4%0.2%-149.9M1.92B-23.7M1.388.74N/AN/A41,44956,994594,927657,131
2018-04-24$117.91$121.009.9%2.8%9.2%20.4%10.1%0.4%0.0%-173.0M2.22B-23.8M1.348.98N/AN/A55,94174,718620,558667,822
2018-04-25$117.18$120.0010.3%3.0%8.5%26.6%10.5%0.7%0.3%-176.7M2.55B-23.8M1.735.70N/AN/A44,87077,785657,876676,562
2018-04-26$117.91$120.009.6%2.7%8.8%15.7%9.4%0.6%0.4%-71.2M1.96B-23.8M1.078.69N/AN/A60,93565,269679,118669,493
2018-04-27$118.83$120.009.0%2.5%9.1%6.7%9.2%0.3%0.3%-67.4M1.06B-24.7M0.995.18N/AN/A64,86164,007694,584686,527
2018-04-30$119.18$120.009.2%2.6%9.2%10.6%9.4%0.9%-0.3%14.1M836.4M-24.5M2.027.40N/AN/A21,28643,017657,516659,738