TLT Options History — November 2020

In November 2020, TLT traded between $155.31 and $161.39. ATM implied volatility averaged 13.1%, placing in the 8.3% IV rank vs the trailing year. The 30-day expected move averaged 4.0%. IV traded below realized volatility by 1.6% (HV 20d: 14.8%). Max pain ranged from $160.00 to $161.00. Net GEX was positive for 3 of 20 trading days. Term structure was in contango for 9 of 20 days. Put/call ratio averaged 1.59.

Notable Days

  • 2020-11-04: Highest Volume — 433,693 contracts
  • 2020-11-04: Largest IV drop — 31.7% change
  • 2020-11-02: Highest IV Rank — 27.2%
  • 2020-11-02: Largest Expected Move — 6.8%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$158.85$155.31$161.39$158.39$160.03
Max Pain$160.70$160.00$161.00$161.00$161.00
ATM IV13.1%11.6%20.4%20.4%11.8%
Expected Move4.0%3.5%6.8%6.8%3.8%
HV 20d14.8%10.4%16.4%10.6%15.6%
HV 60d12.9%11.6%13.5%11.6%12.9%
IV Rank8.3%4.3%27.2%27.2%4.8%
IV Percentile28.2%11.5%86.5%86.5%13.5%
Term Structure0.2%-1.3%1.8%-0.1%1.8%
VWIV14.7%12.6%23.4%23.4%13.4%
Skew 25d0.4%-0.5%1.8%1.8%-0.2%
Skew 10d-0.0%-5.7%3.7%1.9%-0.8%
Call IV 25d13.3%10.4%19.2%19.2%12.4%
Put IV 25d13.7%11.5%21.0%21.0%12.2%
Bid-Ask Spread %6.783.5617.203.565.28
Gamma HHI0.080.060.190.070.08
Net GEX-206.3M-695.6M325.8M-244.1M-106.4M
Net DEX737.3M-1.10B3.64B1.39B-86.3M
Net VEX-11.4M-14.6M-10.0M-14.6M-10.0M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.590.654.081.241.41
Total Volume109,194.935,557433,69360,92937,632
Total OI1,185,739.75898,3311,425,9031,165,909974,003

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2020-11-02$158.39$161.0020.4%6.8%10.6%27.2%23.4%1.8%-0.1%-244.1M1.39B-14.6M1.243.56N/AN/A27,18733,742438,234727,675
2020-11-03$157.61$161.0018.9%6.4%10.4%23.3%22.2%0.9%0.0%-294.1M1.71B-14.0M1.323.56N/AN/A70,72993,453438,234727,675
2020-11-04$161.11$160.0012.9%4.2%12.4%7.7%16.6%0.8%0.2%-81.2M-251.0M-12.6M3.048.82N/AN/A107,233326,460490,545776,397
2020-11-05$161.39$161.0012.9%4.0%12.2%7.8%15.8%1.2%0.3%-24.7M-479.8M-12.2M4.0814.01N/AN/A44,091179,886501,880761,244
2020-11-06$159.47$161.0012.3%3.9%13.0%6.1%14.3%1.2%-0.0%-417.3M1.13B-13.3M0.7617.20N/AN/A52,18739,884524,320901,583
2020-11-09$155.65$161.0013.3%4.0%15.4%8.7%14.7%1.4%0.5%-695.6M3.64B-12.4M1.988.54N/AN/A70,165139,066506,747840,921
2020-11-10$155.31$161.0012.7%3.8%15.1%7.2%14.0%0.8%0.6%-610.8M3.22B-11.7M2.125.30N/AN/A32,05968,092527,427778,375
2020-11-11$155.74$161.0012.2%3.7%15.1%6.0%13.5%0.8%0.8%-608.3M2.83B-11.1M1.405.84N/AN/A26,74237,467538,804769,467
2020-11-12$158.24$160.0012.4%3.7%16.4%6.3%13.7%0.3%0.6%-352.3M941.0M-11.7M1.595.51N/AN/A70,193111,678544,832743,319
2020-11-13$158.07$160.0011.9%3.7%16.4%5.0%13.6%1.7%1.5%-397.0M718.3M-10.7M2.217.71N/AN/A31,69069,979552,423682,377
2020-11-16$157.86$160.0012.2%3.6%16.3%5.9%13.2%0.1%-0.2%-237.7M941.8M-10.9M1.646.02N/AN/A24,99541,097530,551681,400
2020-11-17$158.86$160.0012.1%3.5%16.0%5.6%12.6%-0.1%-0.1%-95.5M363.4M-10.7M0.655.23N/AN/A22,05314,331538,999688,418
2020-11-18$159.19$160.0012.7%3.6%16.0%7.1%13.2%-0.5%-0.3%-61.6M185.3M-10.3M0.706.31N/AN/A38,54227,073543,988692,134
2020-11-19$160.00$161.0012.3%3.5%15.7%6.1%12.7%-0.3%-0.3%78.9M-215.1M-10.7M0.874.55N/AN/A40,19434,916557,014704,229
2020-11-20$161.33$161.0013.1%3.8%15.9%8.3%13.7%-0.4%-0.3%325.8M-1.10B-10.7M0.825.65N/AN/A39,60832,317563,309709,225
2020-11-23$160.67$161.0013.0%3.8%15.6%7.8%13.7%-0.4%-0.3%13.3M-454.5M-10.1M1.055.43N/AN/A24,49725,715408,610489,721
2020-11-24$159.25$161.0012.2%3.6%15.8%5.8%13.5%-0.4%-1.3%-81.8M94.6M-10.1M3.186.82N/AN/A16,18351,467415,178507,389
2020-11-25$158.69$161.0011.6%3.6%15.8%4.3%13.0%-0.1%-0.0%-170.8M408.7M-10.5M0.875.16N/AN/A18,96916,588418,762540,462
2020-11-27$160.22$161.0012.0%3.7%15.8%5.3%13.6%-0.3%-0.1%-63.6M-246.2M-10.2M0.945.02N/AN/A23,58022,158430,139548,785
2020-11-30$160.03$161.0011.8%3.8%15.6%4.8%13.4%-0.2%1.8%-106.4M-86.3M-10.0M1.415.28N/AN/A15,58622,046423,404550,599