TLT Options History — March 2019

In March 2019, TLT traded between $118.67 and $126.56. ATM implied volatility averaged 8.8%, placing in the 18.9% IV rank vs the trailing year. The 30-day expected move averaged 2.5%. IV traded below realized volatility by 0.7% (HV 20d: 9.5%). Max pain ranged from $121.00 to $122.00. Net GEX was positive for 13 of 21 trading days. Term structure was in contango for 6 of 21 days. Put/call ratio averaged 1.01.

Notable Days

  • 2019-03-22: Highest Volume — 148,452 contracts
  • 2019-03-22: Largest IV spike — 11.6% change
  • 2019-03-27: Highest IV Rank — 50.3%
  • 2019-03-28: Largest Expected Move — 2.9%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$122.45$118.67$126.56$118.67$126.38
Max Pain$121.24$121.00$122.00$121.00$122.00
ATM IV8.8%7.9%10.4%9.0%9.6%
Expected Move2.5%2.2%2.9%2.5%2.7%
HV 20d9.5%8.3%10.7%8.9%8.3%
HV 60d8.9%8.5%9.3%9.3%8.9%
IV Rank18.9%0.8%50.3%21.9%34.8%
IV Percentile29.7%0.4%86.1%38.9%69.8%
Term Structure-0.1%-0.5%0.2%0.2%0.1%
VWIV8.9%7.7%10.4%8.7%9.5%
Skew 25d-0.4%-1.8%0.4%0.1%-1.5%
Skew 10d-0.7%-3.8%1.0%0.2%-2.4%
Call IV 25d9.2%8.1%11.7%9.2%10.3%
Put IV 25d8.8%8.1%10.1%9.3%8.9%
Bid-Ask Spread %13.738.8522.888.8513.69
Gamma HHI0.100.070.160.130.08
Net GEX7.9M-271.9M170.1M-271.9M126.0M
Net DEX-535.8M-2.14B1.63B1.63B-1.96B
Net VEX-13.7M-15.0M-12.3M-12.3M-14.8M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.010.251.731.100.69
Total Volume74,400.47620,480148,452112,96891,415
Total OI856,631.667714,7341,011,880822,0161,011,880

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2019-03-01$118.67$121.009.0%2.5%8.9%21.9%8.7%0.1%0.2%-271.9M1.63B-12.3M1.108.85N/AN/A53,85959,109351,617470,399
2019-03-04$119.70$121.008.8%2.5%9.2%19.0%8.9%0.2%-0.1%-199.6M740.0M-13.3M1.3213.27N/AN/A14,88619,649364,319457,538
2019-03-05$119.80$121.008.8%2.4%9.1%18.8%8.8%0.4%0.0%-194.7M727.3M-13.4M0.7110.28N/AN/A11,9478,533369,992464,830
2019-03-06$120.31$121.008.7%2.4%9.1%15.8%8.5%0.1%-0.0%-112.3M381.3M-13.2M1.3212.65N/AN/A19,13325,337376,179468,342
2019-03-07$121.08$121.008.5%2.4%9.4%12.8%8.5%0.3%-0.2%57.7M-259.0M-13.0M0.5813.43N/AN/A41,94824,127383,573479,197
2019-03-08$121.62$121.008.3%2.2%9.3%7.6%7.7%0.3%0.0%124.3M-618.9M-13.2M0.6012.62N/AN/A39,08223,611386,265486,954
2019-03-11$121.16$121.008.6%2.5%9.1%13.4%8.7%0.1%-0.2%-70.3M-119.3M-13.0M1.5713.58N/AN/A22,63435,609372,023476,632
2019-03-12$121.99$121.008.3%2.4%9.4%7.8%8.6%-0.1%-0.3%60.4M-509.0M-13.8M1.4222.88N/AN/A24,59134,946383,941521,737
2019-03-13$121.77$121.008.1%2.4%9.3%4.7%8.6%-0.1%-0.2%4.1M-452.2M-13.5M1.0415.70N/AN/A21,01821,943392,062517,609
2019-03-14$121.01$121.008.2%2.4%9.5%6.4%8.3%0.3%-0.3%-148.4M101.9M-13.5M1.3113.71N/AN/A43,29256,572399,215524,494
2019-03-15$121.69$121.008.1%2.4%9.6%3.6%8.4%0.2%-0.1%83.3M-348.4M-13.6M1.2212.01N/AN/A23,53828,673420,963537,709
2019-03-18$121.66$121.008.3%2.4%9.6%8.4%8.5%-0.2%-0.4%-16.8M-127.6M-13.9M1.1012.39N/AN/A10,07311,100344,321370,413
2019-03-19$121.53$121.007.9%2.3%9.6%0.8%8.2%-0.0%-0.1%-37.3M5.0M-13.9M0.8211.54N/AN/A25,90521,190349,180387,240
2019-03-20$122.51$121.008.1%2.4%10.0%4.5%8.2%-0.2%-0.1%38.2M-608.1M-14.0M1.1619.65N/AN/A28,80033,341360,274396,650
2019-03-21$122.94$121.008.3%2.4%9.4%7.6%8.4%-0.5%-0.5%44.3M-803.5M-14.1M0.8811.95N/AN/A32,53228,735367,871419,698
2019-03-22$124.87$121.009.2%2.6%10.7%26.9%9.4%-1.3%-0.3%170.1M-1.78B-14.2M0.6610.43N/AN/A89,65158,801378,892438,156
2019-03-25$125.08$122.0010.3%2.8%10.5%48.1%10.4%-1.8%-0.1%119.0M-1.61B-14.3M0.2514.04N/AN/A115,88929,530377,388425,548
2019-03-26$124.97$122.009.6%2.6%10.5%34.9%9.4%-1.7%-0.2%118.1M-1.54B-15.0M0.9112.75N/AN/A75,13668,074438,583446,723
2019-03-27$126.16$122.0010.4%2.9%9.9%50.3%10.3%-1.6%0.0%135.6M-1.96B-14.4M0.8514.58N/AN/A44,14837,703436,429481,427
2019-03-28$126.56$122.0010.3%2.9%9.6%48.2%10.0%-1.3%0.1%135.7M-2.14B-14.2M1.7318.26N/AN/A38,89167,459445,963507,039
2019-03-29$126.38$122.009.6%2.7%8.3%34.8%9.5%-1.5%0.1%126.0M-1.96B-14.8M0.6913.69N/AN/A54,13237,283456,930554,950