TLT Options History — July 2020

In July 2020, TLT traded between $162.85 and $171.14. ATM implied volatility averaged 14.3%, placing in the 13.0% IV rank vs the trailing year. The 30-day expected move averaged 4.0%. IV traded above realized volatility by 2.9% (HV 20d: 11.4%). Max pain ranged from $160.00 to $167.00. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 13 of 22 days. Put/call ratio averaged 0.88.

Notable Days

  • 2020-07-30: Highest Volume — 193,836 contracts
  • 2020-07-23: Largest IV spike — 8.3% change
  • 2020-07-24: Highest IV Rank — 15.7%
  • 2020-07-24: Largest Expected Move — 4.4%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$167.26$162.85$171.14$163.25$171.14
Max Pain$164.18$160.00$167.00$163.00$167.00
ATM IV14.3%13.1%15.3%14.9%14.3%
Expected Move4.0%3.7%4.4%4.2%4.0%
HV 20d11.4%9.7%14.8%14.8%9.7%
HV 60d14.9%13.8%16.3%16.0%13.8%
IV Rank13.0%10.0%15.7%14.8%11.3%
IV Percentile49.4%35.7%59.1%56.7%49.2%
Term Structure0.1%-0.3%0.5%0.1%0.5%
VWIV14.7%13.7%15.9%15.0%14.4%
Skew 25d-0.5%-1.2%0.2%-0.4%-0.1%
Skew 10d-1.2%-2.5%0.1%-1.3%0.1%
Call IV 25d15.1%14.0%16.4%15.5%14.9%
Put IV 25d14.6%13.7%15.6%15.2%14.9%
Bid-Ask Spread %5.483.469.233.629.23
Gamma HHI0.080.050.230.050.08
Net GEX168.5M36.6M284.3M86.0M169.8M
Net DEX-1.62B-2.33B-677.3M-760.8M-2.12B
Net VEX-11.6M-13.4M-10.5M-10.5M-13.4M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.880.353.440.690.90
Total Volume81,174.40936,494193,83657,78479,167
Total OI884,035.545733,881999,891814,471999,891

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2020-07-01$163.25$163.0014.9%4.2%14.8%14.8%15.0%-0.4%0.1%86.0M-760.8M-10.5M0.693.62N/AN/A34,17123,613385,833428,638
2020-07-02$163.62$163.0014.4%3.9%13.8%13.4%14.1%-0.2%0.2%185.3M-908.8M-10.5M0.413.46N/AN/A59,24924,258393,802432,745
2020-07-06$162.85$160.0014.5%4.2%13.4%13.8%15.1%0.0%0.0%83.6M-677.3M-10.7M0.854.91N/AN/A38,34132,421392,179420,199
2020-07-07$165.08$160.0014.4%4.1%14.0%13.5%15.3%0.1%-0.0%157.0M-1.32B-11.0M0.915.47N/AN/A32,71429,797396,062437,394
2020-07-08$164.61$161.0014.2%4.1%13.6%13.0%14.8%0.2%-0.1%164.2M-1.19B-11.2M0.484.41N/AN/A32,52815,725409,154450,677
2020-07-09$167.12$161.0015.2%4.3%13.8%15.5%15.7%-0.9%-0.3%226.1M-2.16B-11.8M0.386.57N/AN/A93,97935,864424,290453,324
2020-07-10$166.29$163.0014.8%4.2%12.4%14.5%15.2%-1.1%-0.2%182.1M-1.78B-11.8M0.524.61N/AN/A68,73435,618444,608471,377
2020-07-13$166.79$163.0014.8%4.2%11.9%14.4%15.0%-0.8%-0.2%185.9M-1.73B-11.5M1.125.39N/AN/A30,22233,817432,975468,391
2020-07-14$167.10$163.0014.2%4.0%11.9%12.9%14.5%-1.0%-0.2%213.6M-1.91B-11.5M0.475.69N/AN/A43,45220,488444,062490,426
2020-07-15$166.34$165.0013.7%3.9%10.6%11.6%14.0%-0.3%-0.1%189.9M-1.53B-11.5M0.415.21N/AN/A51,84421,052446,029498,691
2020-07-16$167.17$165.0014.2%4.0%10.7%13.0%14.4%-0.4%-0.3%284.3M-2.05B-11.4M0.728.56N/AN/A21,96115,902468,658499,555
2020-07-17$166.65$165.0013.6%3.9%10.4%11.4%14.4%-0.3%-0.1%270.9M-1.82B-11.4M0.416.12N/AN/A43,64017,817468,089501,605
2020-07-20$167.07$165.0013.9%4.0%10.3%12.0%14.2%-0.3%0.4%123.0M-1.31B-11.3M0.684.58N/AN/A22,52115,418361,594372,287
2020-07-21$167.32$165.0013.9%4.0%10.3%12.2%14.2%-0.3%0.2%71.5M-1.19B-11.9M0.584.22N/AN/A23,05113,443365,805440,817
2020-07-22$167.78$165.0013.1%3.7%9.9%10.0%13.7%-0.4%0.4%98.3M-1.38B-11.8M0.356.72N/AN/A52,18818,419375,891449,333
2020-07-23$169.65$165.0014.2%4.1%10.1%12.8%14.6%-1.2%0.2%199.3M-2.05B-11.4M0.574.38N/AN/A46,51526,693385,129454,619
2020-07-24$169.78$166.0015.3%4.4%10.1%15.7%15.9%-0.8%0.1%272.5M-2.07B-12.0M0.684.98N/AN/A53,42636,187397,748462,651
2020-07-27$169.08$166.0014.8%4.2%9.8%14.6%15.3%-0.4%0.4%116.6M-1.59B-12.0M1.085.45N/AN/A52,10256,459381,776461,307
2020-07-28$170.25$167.0013.9%3.9%9.8%12.1%13.9%-0.5%0.4%156.2M-1.97B-12.4M1.984.25N/AN/A50,24299,255409,375500,633
2020-07-29$169.76$167.0014.0%3.9%9.7%12.0%14.0%-0.5%0.5%36.6M-1.72B-12.3M1.766.05N/AN/A32,45957,249415,738579,327
2020-07-30$171.08$167.0013.6%3.9%9.7%11.1%15.2%-0.9%0.5%234.8M-2.33B-11.8M3.446.80N/AN/A43,627150,209424,156551,942
2020-07-31$171.14$167.0014.3%4.0%9.7%11.3%14.4%-0.1%0.5%169.8M-2.12B-13.4M0.909.23N/AN/A41,60337,564430,976568,915