TLT Options History — April 2020

In April 2020, TLT traded between $163.64 and $171.01. ATM implied volatility averaged 21.3%, placing in the 34.0% IV rank vs the trailing year. The 30-day expected move averaged 6.1%. IV traded below realized volatility by 13.7% (HV 20d: 35.0%). Max pain ranged from $153.00 to $165.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 10 of 21 days. Put/call ratio averaged 0.93.

Notable Days

  • 2020-04-03: Highest Volume — 161,677 contracts
  • 2020-04-03: Largest IV drop — 15.5% change
  • 2020-04-02: Highest IV Rank — 42.6%
  • 2020-04-01: Largest Expected Move — 7.4%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$167.87$163.64$171.01$167.81$167.39
Max Pain$160.67$153.00$165.00$153.00$165.00
ATM IV21.3%17.5%24.8%24.8%17.6%
Expected Move6.1%5.2%7.4%7.4%5.2%
HV 20d35.0%16.8%57.6%57.6%16.8%
HV 60d34.9%34.4%35.3%34.5%35.2%
IV Rank34.0%24.5%42.6%42.4%24.9%
IV Percentile90.1%83.7%94.0%94.0%83.7%
Term Structure-0.0%-0.8%1.7%0.1%0.1%
VWIV22.9%19.1%28.6%28.6%20.2%
Skew 25d-1.9%-4.3%0.9%-2.1%-1.1%
Skew 10d-4.6%-10.1%-0.4%-3.5%-1.5%
Call IV 25d23.6%18.7%27.7%27.7%18.7%
Put IV 25d21.6%17.6%26.2%25.6%17.6%
Bid-Ask Spread %19.126.0131.1815.788.08
Gamma HHI0.100.060.180.140.07
Net GEX124.3M51.5M247.0M191.4M51.5M
Net DEX-2.91B-4.74B-1.44B-3.94B-1.44B
Net VEX-11.5M-14.3M-9.7M-14.3M-9.8M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.930.232.090.760.23
Total Volume73,759.61930,632161,677113,81491,454
Total OI1,028,549794,2091,209,8931,087,045938,047

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2020-04-01$167.81$153.0024.8%7.4%57.6%42.4%28.6%-2.1%0.1%191.4M-3.94B-14.3M0.7615.78N/AN/A64,54249,272581,780505,265
2020-04-02$168.18$155.0024.8%6.9%57.2%42.6%25.7%-1.3%0.0%178.5M-3.97B-14.0M1.4327.58N/AN/A22,52532,122584,316531,927
2020-04-03$169.03$157.0021.0%5.8%54.6%33.1%21.3%-1.3%0.1%247.0M-4.33B-12.2M0.5527.52N/AN/A104,19857,479586,618545,722
2020-04-06$167.97$158.0020.5%5.8%52.9%31.9%21.9%-0.7%-0.0%168.4M-3.97B-12.5M1.7831.18N/AN/A21,04237,487589,175547,674
2020-04-07$166.17$158.0021.4%6.0%49.5%34.2%22.1%-0.2%-0.8%121.3M-3.34B-13.2M2.0926.26N/AN/A29,28461,283593,302562,107
2020-04-08$164.68$158.0021.6%6.1%48.5%34.7%22.9%0.1%-0.1%89.6M-2.86B-13.4M0.3425.73N/AN/A62,66521,535598,092565,606
2020-04-09$164.58$159.0020.8%5.8%48.0%32.8%22.3%0.9%-0.7%66.8M-2.83B-12.8M0.7627.08N/AN/A26,81220,458595,994572,181
2020-04-13$164.12$159.0020.3%5.8%47.8%31.3%21.7%-0.4%0.4%79.2M-2.71B-11.9M1.7423.48N/AN/A11,16019,472574,644568,316
2020-04-14$163.64$159.0019.0%5.4%43.8%28.2%20.2%-0.6%1.7%63.1M-2.55B-11.3M0.8018.73N/AN/A20,73616,580576,896576,958
2020-04-15$168.21$159.0021.7%6.2%40.0%34.8%22.3%-3.1%0.4%193.3M-4.15B-10.5M0.5713.52N/AN/A75,79043,171574,843578,746
2020-04-16$170.00$159.0022.2%6.4%32.2%36.0%22.4%-3.8%-0.4%239.3M-4.74B-10.6M1.0216.31N/AN/A39,44240,272590,477599,635
2020-04-17$167.72$160.0023.8%6.9%32.9%39.9%24.9%-3.7%-0.8%173.9M-3.77B-11.4M1.1427.31N/AN/A43,20449,406593,161616,732
2020-04-20$169.17$163.0023.1%6.7%28.0%38.2%24.5%-3.1%-0.6%68.1M-2.01B-10.7M1.0611.10N/AN/A17,32418,319357,853436,356
2020-04-21$171.01$164.0023.8%6.9%18.8%39.9%25.0%-4.3%-0.4%85.3M-2.35B-10.7M0.6824.49N/AN/A35,01823,723363,386444,541
2020-04-22$169.43$164.0023.1%6.6%18.5%38.4%25.9%-4.1%-0.2%69.5M-2.05B-11.2M0.7822.05N/AN/A34,04326,599373,566454,020
2020-04-23$170.18$164.0022.3%6.4%18.1%36.3%22.8%-3.5%-0.4%98.4M-2.24B-11.0M0.7510.90N/AN/A31,18923,439393,073461,639
2020-04-24$170.51$165.0021.3%6.1%18.1%33.9%24.8%-3.5%-0.1%109.8M-2.33B-10.9M0.288.60N/AN/A74,72521,041401,636471,266
2020-04-27$167.64$165.0019.6%5.8%17.1%29.8%21.7%-1.5%0.1%88.1M-1.61B-10.4M0.5215.65N/AN/A40,40721,092430,426453,783
2020-04-28$169.49$165.0017.8%5.4%17.3%25.2%19.7%-1.6%0.3%131.7M-2.11B-9.8M0.936.01N/AN/A26,20424,397434,896458,485
2020-04-29$168.36$165.0017.5%5.2%17.4%24.5%19.1%-1.4%0.3%96.8M-1.78B-9.7M1.3214.08N/AN/A30,14039,901444,468471,921
2020-04-30$167.39$165.0017.6%5.2%16.8%24.9%20.2%-1.1%0.1%51.5M-1.44B-9.8M0.238.08N/AN/A74,51716,937447,304490,743