TLT Options History — September 2020

In September 2020, TLT traded between $162.74 and $166.26. ATM implied volatility averaged 14.2%, placing in the 11.1% IV rank vs the trailing year. The 30-day expected move averaged 4.0%. IV traded above realized volatility by 1.1% (HV 20d: 13.1%). Max pain ranged from $164.00 to $165.00. Net GEX was positive for 1 of 21 trading days. Term structure was in contango for 16 of 21 days. Put/call ratio averaged 1.86.

Notable Days

  • 2020-09-29: Highest Volume — 311,196 contracts
  • 2020-09-17: Largest IV drop — 9.0% change
  • 2020-09-03: Highest IV Rank — 17.3%
  • 2020-09-03: Largest Expected Move — 4.7%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$164.23$162.74$166.26$163.85$163.29
Max Pain$164.10$164.00$165.00$165.00$164.00
ATM IV14.2%12.6%16.6%14.5%13.6%
Expected Move4.0%3.6%4.7%4.1%3.9%
HV 20d13.1%11.1%14.7%12.0%11.1%
HV 60d11.7%11.1%12.3%12.3%11.1%
IV Rank11.1%7.0%17.3%12.0%9.4%
IV Percentile46.4%28.2%74.6%54.4%39.3%
Term Structure0.5%-0.5%3.3%0.1%2.5%
VWIV14.6%12.7%16.9%15.5%14.4%
Skew 25d1.0%0.4%1.7%1.1%1.3%
Skew 10d1.9%0.7%3.5%2.2%2.9%
Call IV 25d14.1%12.5%16.7%14.4%13.5%
Put IV 25d15.1%13.3%17.9%15.5%14.8%
Bid-Ask Spread %5.192.2715.622.276.56
Gamma HHI0.100.080.120.110.10
Net GEX-171.9M-366.3M26.8M-152.9M-305.3M
Net DEX253.9M-580.5M1.40B486.3M760.9M
Net VEX-12.9M-16.0M-10.6M-14.2M-12.9M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.860.558.904.292.10
Total Volume95,070.42933,775311,196215,421167,345
Total OI1,220,330.429973,5661,390,1251,115,3371,246,957

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2020-09-01$163.85$165.0014.5%4.1%12.0%12.0%15.5%1.1%0.1%-152.9M486.3M-14.2M4.292.27N/AN/A40,719174,702452,399662,938
2020-09-02$165.35$165.0015.2%4.3%12.5%13.8%16.0%1.1%0.0%-84.8M-74.8M-15.8M1.102.81N/AN/A37,12240,667467,472799,146
2020-09-03$166.26$164.0016.6%4.7%12.6%17.3%16.4%0.4%-0.1%-42.7M-580.5M-16.0M0.8812.92N/AN/A67,29359,250476,393813,609
2020-09-04$162.74$164.0016.2%4.5%14.3%16.4%16.9%0.9%-0.5%-304.3M1.40B-15.7M2.3515.62N/AN/A62,574147,264482,785829,736
2020-09-08$164.03$164.0016.5%4.6%14.7%17.1%16.8%1.7%-0.4%-218.4M604.7M-15.1M1.545.63N/AN/A29,29344,973481,564866,839
2020-09-09$163.08$164.0016.1%4.5%14.3%16.0%15.8%1.3%-0.4%-366.3M1.26B-15.1M0.915.47N/AN/A31,51128,786479,034889,419
2020-09-10$164.11$164.0015.3%4.3%14.2%14.1%15.4%1.1%-0.5%-259.2M500.3M-14.2M1.214.49N/AN/A27,63633,480488,166899,485
2020-09-11$164.50$164.0014.3%4.1%13.8%11.3%14.7%0.9%0.0%-154.7M116.5M-13.4M1.356.16N/AN/A26,24335,380496,364893,761
2020-09-14$164.35$164.0014.5%4.1%13.7%11.9%14.4%1.4%0.1%-214.6M254.6M-13.0M1.003.48N/AN/A28,77128,644468,679865,654
2020-09-15$164.33$164.0014.4%4.1%13.7%11.6%14.8%0.5%0.1%-235.6M288.9M-12.8M1.653.51N/AN/A13,62622,544472,034877,871
2020-09-16$163.33$164.0013.9%4.0%13.6%10.3%14.2%1.4%0.1%-366.3M889.4M-12.8M1.644.56N/AN/A22,77537,304475,156882,685
2020-09-17$164.22$164.0012.6%3.6%13.6%7.0%12.9%0.7%0.4%-223.5M255.7M-11.7M1.823.48N/AN/A18,87034,331479,542890,956
2020-09-18$163.42$164.0013.2%3.8%13.3%8.4%13.5%0.6%0.2%-210.5M734.5M-11.4M0.683.66N/AN/A42,12028,491481,349903,061
2020-09-21$164.32$164.0013.4%3.8%13.3%9.0%13.7%0.8%0.4%-93.7M-154.5M-11.1M1.914.00N/AN/A19,25036,825338,467635,099
2020-09-22$164.14$164.0012.9%3.6%13.3%7.7%13.2%0.6%0.5%-109.4M-54.0M-10.9M1.564.37N/AN/A23,96737,421344,113649,502
2020-09-23$164.43$164.0012.8%3.6%13.1%7.4%13.3%1.0%0.5%-85.0M-164.2M-11.3M0.624.05N/AN/A32,69220,125354,080668,264
2020-09-24$164.97$164.0013.1%3.7%13.1%8.1%13.4%1.2%0.5%-686.4K-381.6M-11.0M0.554.82N/AN/A21,76212,013357,509675,052
2020-09-25$165.03$164.0013.2%3.8%11.4%8.4%13.6%0.7%0.4%26.8M-417.9M-11.1M0.903.66N/AN/A24,12821,741366,017680,764
2020-09-28$164.46$164.0013.0%3.6%11.5%8.0%12.7%1.5%2.7%-107.3M-163.6M-10.6M2.183.79N/AN/A32,59471,051346,223638,839
2020-09-29$164.68$164.0012.7%3.6%11.2%7.1%14.0%1.2%3.3%-101.5M-233.7M-10.6M8.903.69N/AN/A31,445279,751350,698699,258
2020-09-30$163.29$164.0013.6%3.9%11.1%9.4%14.4%1.3%2.5%-305.3M760.9M-12.9M2.106.56N/AN/A54,013113,332359,577887,380