TLT Options History — January 2020

In January 2020, TLT traded between $136.44 and $145.82. ATM implied volatility averaged 11.4%, placing in the 39.9% IV rank vs the trailing year. The 30-day expected move averaged 3.3%. IV traded below realized volatility by 0.4% (HV 20d: 11.8%). Max pain ranged from $137.00 to $140.00. Net GEX was positive for 12 of 21 trading days. Term structure was in contango for 9 of 21 days. Put/call ratio averaged 1.11.

Notable Days

  • 2020-01-14: Highest Volume — 287,857 contracts
  • 2020-01-27: Largest IV spike — 12.4% change
  • 2020-01-31: Highest IV Rank — 67.8%
  • 2020-01-31: Largest Expected Move — 4.2%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$140.09$136.44$145.82$137.01$145.82
Max Pain$138.10$137.00$140.00$138.00$140.00
ATM IV11.4%10.0%14.1%11.2%14.1%
Expected Move3.3%2.8%4.2%3.4%4.2%
HV 20d11.8%10.6%13.1%11.2%12.1%
HV 60d12.9%12.6%13.3%13.0%12.6%
IV Rank39.9%25.0%67.8%37.4%67.8%
IV Percentile62.1%41.7%87.3%61.9%87.3%
Term Structure-0.0%-0.3%0.4%0.3%0.4%
VWIV11.6%9.9%14.3%12.0%14.3%
Skew 25d-0.5%-1.6%0.2%0.2%-1.6%
Skew 10d-1.0%-2.7%0.4%0.4%-2.7%
Call IV 25d11.9%10.2%15.0%11.2%15.0%
Put IV 25d11.4%10.2%13.5%11.4%13.5%
Bid-Ask Spread %3.282.454.852.483.35
Gamma HHI0.090.050.390.080.06
Net GEX1.3M-530.5M162.9M-23.5M129.4M
Net DEX-1.05B-3.11B1.19B280.1M-3.11B
Net VEX-9.4M-10.9M-8.4M-9.3M-9.2M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.110.412.610.890.89
Total Volume119,065.95258,063287,85787,719131,617
Total OI956,055.571753,6381,173,789939,8471,024,547

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2020-01-02$137.01$138.0011.2%3.4%11.2%37.4%12.0%0.2%0.3%-23.5M280.1M-9.3M0.892.48N/AN/A46,52141,198395,472544,375
2020-01-03$138.99$138.0011.9%3.6%12.1%45.0%12.8%-0.3%0.2%123.8M-1.03B-9.5M0.914.71N/AN/A64,92358,991389,857558,544
2020-01-06$138.36$137.0011.8%3.3%12.1%44.3%12.0%-0.3%-0.1%-25.4M-315.1M-9.3M1.124.24N/AN/A54,82561,555372,025564,275
2020-01-07$137.68$137.0011.7%3.3%12.1%42.5%11.7%-0.2%-0.1%-116.5M293.1M-9.2M0.714.85N/AN/A45,70332,507375,694578,577
2020-01-08$136.44$137.0011.7%3.2%12.4%43.2%11.6%-0.2%-0.1%-171.5M1.19B-9.1M0.964.82N/AN/A52,17850,228395,659583,111
2020-01-09$137.18$137.0011.1%3.1%12.6%37.2%11.2%-0.4%-0.1%-124.6M666.6M-9.1M1.393.22N/AN/A65,13690,842401,597587,627
2020-01-10$138.39$137.0010.5%3.0%12.7%30.9%10.6%-0.1%-0.0%-62.2M-370.5M-9.3M1.582.81N/AN/A50,32979,484431,161642,723
2020-01-13$137.96$137.0010.3%2.9%11.3%28.4%10.4%-0.0%-0.2%-69.5M19.7M-9.1M1.092.84N/AN/A35,36338,599417,268646,622
2020-01-14$138.64$137.0010.0%2.8%10.7%25.9%9.9%-0.0%-0.1%-4.9M-666.7M-8.8M0.952.71N/AN/A147,976139,881415,229664,500
2020-01-15$139.72$138.0010.3%3.0%10.6%28.7%10.4%-0.3%0.0%162.9M-1.64B-9.7M0.883.25N/AN/A43,97538,497425,693673,551
2020-01-16$139.06$138.0010.1%2.9%10.7%27.0%10.7%-0.2%-0.1%63.2M-988.7M-10.0M0.413.12N/AN/A76,55831,573430,553689,777
2020-01-17$138.03$138.0010.0%2.8%10.7%25.0%10.0%-0.0%-0.3%-530.5M-82.7M-10.9M1.192.77N/AN/A54,26564,304470,218703,571
2020-01-21$139.40$138.0010.7%3.1%11.2%32.8%10.8%-0.4%0.0%24.3M-864.8M-10.3M0.793.16N/AN/A32,39725,666341,304412,334
2020-01-22$139.96$138.0010.6%3.0%11.2%31.8%10.6%-0.7%-0.0%73.6M-1.22B-9.9M1.252.87N/AN/A31,09338,719345,014422,807
2020-01-23$140.97$138.0011.0%3.2%11.4%35.7%11.1%-0.9%-0.2%119.3M-1.69B-9.7M0.963.25N/AN/A58,40555,793349,276444,635
2020-01-24$141.97$138.0011.3%3.3%11.5%39.1%11.5%-0.9%-0.2%125.7M-2.08B-9.4M0.943.24N/AN/A84,26679,064355,142468,615
2020-01-27$144.18$139.0012.7%3.7%12.5%53.4%13.0%-1.0%0.1%125.7M-2.83B-8.4M0.772.45N/AN/A68,21952,520363,476465,175
2020-01-28$142.99$140.0012.3%3.6%13.1%49.3%12.5%-0.9%0.0%67.4M-2.18B-9.0M2.612.75N/AN/A29,57777,235366,568484,363
2020-01-29$144.40$140.0012.9%3.8%13.1%54.6%13.5%-1.1%0.1%78.0M-2.72B-8.5M2.143.05N/AN/A47,128100,783370,786525,344
2020-01-30$144.69$140.0013.2%3.9%12.3%58.6%13.4%-1.1%0.0%62.9M-2.71B-9.4M0.863.00N/AN/A65,76456,728383,920596,182
2020-01-31$145.82$140.0014.1%4.2%12.1%67.8%14.3%-1.6%0.4%129.4M-3.11B-9.2M0.893.35N/AN/A69,77661,841395,612628,935