TLT Options History — December 2020

In December 2020, TLT traded between $155.14 and $158.69. ATM implied volatility averaged 12.8%, placing in the 7.3% IV rank vs the trailing year. The 30-day expected move averaged 3.8%. IV traded below realized volatility by 0.4% (HV 20d: 13.1%). Max pain ranged from $158.00 to $161.00. Net GEX was positive for 0 of 22 trading days. Term structure was in contango for 18 of 22 days. Put/call ratio averaged 2.18.

Notable Days

  • 2020-12-09: Highest Volume — 205,121 contracts
  • 2020-12-04: Largest IV spike — 7.4% change
  • 2020-12-31: Highest IV Rank — 11.7%
  • 2020-12-31: Largest Expected Move — 4.3%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$157.19$155.14$158.69$157.42$157.69
Max Pain$158.41$158.00$161.00$161.00$158.00
ATM IV12.8%11.6%14.4%11.6%14.4%
Expected Move3.8%3.3%4.3%3.8%4.3%
HV 20d13.1%9.7%16.9%16.8%9.7%
HV 60d13.0%12.5%13.3%12.6%12.6%
IV Rank7.3%4.3%11.7%4.3%11.7%
IV Percentile23.5%8.3%43.3%10.7%43.3%
Term Structure0.6%-0.4%2.3%1.9%0.4%
VWIV14.0%12.0%15.9%13.8%15.9%
Skew 25d0.9%0.2%1.4%0.2%1.3%
Skew 10d2.1%0.0%4.6%1.3%2.5%
Call IV 25d12.8%11.7%14.4%12.0%14.4%
Put IV 25d13.7%12.2%15.8%12.2%15.8%
Bid-Ask Spread %5.242.8011.104.383.65
Gamma HHI0.090.060.200.120.07
Net GEX-244.1M-635.7M-57.0M-297.3M-135.6M
Net DEX808.7M129.4M2.17B1.09B330.0M
Net VEX-11.4M-13.2M-10.0M-10.0M-13.2M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio2.180.435.852.300.90
Total Volume93,679.13622,666205,121105,52292,384
Total OI1,091,113.455921,6301,276,387982,3471,098,777

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2020-12-01$157.42$161.0011.6%3.8%16.8%4.3%13.8%0.2%1.9%-297.3M1.09B-10.0M2.304.38N/AN/A31,99373,529419,259563,088
2020-12-02$156.14$160.0012.3%4.0%16.9%6.2%14.7%0.6%1.8%-382.7M1.67B-10.4M2.425.01N/AN/A26,33163,755425,104580,059
2020-12-03$157.54$160.0012.2%3.9%15.2%5.7%14.4%0.6%2.3%-294.1M1.02B-10.4M2.6511.10N/AN/A28,29875,075434,747596,341
2020-12-04$155.14$160.0013.1%4.0%15.9%8.1%14.4%0.9%1.7%-635.7M2.17B-10.6M2.587.02N/AN/A56,275145,352447,314634,210
2020-12-07$156.61$158.0013.2%3.9%16.0%8.4%14.5%1.1%0.2%-364.5M1.20B-10.3M4.385.76N/AN/A26,414115,628461,197673,194
2020-12-08$157.31$158.0013.3%3.9%13.5%8.7%14.9%1.3%0.3%-313.0M868.0M-10.5M5.287.99N/AN/A18,42497,210462,403690,919
2020-12-09$156.73$158.0013.9%4.0%13.5%10.2%14.5%1.2%0.0%-435.0M1.16B-10.5M5.855.37N/AN/A29,929175,192467,122700,308
2020-12-10$158.07$158.0013.0%3.7%13.8%8.0%15.3%1.0%-0.0%-175.3M528.8M-11.1M1.745.29N/AN/A23,64841,053472,529735,311
2020-12-11$158.69$158.0013.3%3.8%12.6%8.7%14.7%1.0%0.2%-72.5M129.4M-11.0M0.837.88N/AN/A74,64261,803482,565752,802
2020-12-14$158.33$158.0013.5%3.9%12.7%9.2%14.2%1.4%-0.4%-118.4M378.7M-11.7M1.404.92N/AN/A21,47030,070507,771691,728
2020-12-15$157.67$158.0012.8%3.7%12.7%7.5%14.1%1.2%0.1%-199.9M775.0M-11.7M1.266.89N/AN/A20,29725,612515,275710,389
2020-12-16$157.38$158.0012.6%3.6%12.5%7.0%13.6%1.1%-0.0%-236.6M872.7M-11.8M0.893.81N/AN/A32,62029,052523,450720,500
2020-12-17$156.71$158.0012.3%3.5%12.6%6.0%12.5%1.1%0.1%-318.9M1.25B-11.6M1.184.30N/AN/A34,08740,364533,391724,348
2020-12-18$156.26$158.0012.4%3.6%12.4%6.5%13.0%0.7%-0.1%-352.0M1.48B-11.6M1.934.51N/AN/A39,07375,454537,827738,560
2020-12-21$156.92$158.0012.7%3.7%12.1%7.1%13.6%0.6%0.5%-199.2M613.7M-12.4M0.634.18N/AN/A21,51713,455365,526556,390
2020-12-22$157.78$158.0011.8%3.5%12.2%4.9%12.6%0.5%0.7%-127.2M228.4M-12.1M0.435.25N/AN/A28,29912,249373,408560,988
2020-12-23$156.61$158.0011.9%3.5%12.1%5.2%13.0%0.4%0.7%-255.4M627.6M-12.2M3.174.35N/AN/A26,64684,464393,810565,663
2020-12-24$157.36$158.0011.7%3.3%12.2%4.4%12.0%0.6%0.7%-57.0M229.1M-12.1M0.633.46N/AN/A13,9388,728400,501549,898
2020-12-28$157.32$158.0012.5%3.6%11.7%6.7%13.5%0.9%0.3%-98.9M291.0M-11.6M1.073.72N/AN/A25,54627,306386,987534,643
2020-12-29$157.17$158.0013.0%3.8%11.7%7.8%14.6%0.9%0.3%-104.2M323.2M-11.8M5.432.80N/AN/A21,693117,896396,973551,019
2020-12-30$157.36$158.0013.5%3.9%10.1%9.2%14.4%1.1%0.2%-196.7M556.8M-13.0M0.933.53N/AN/A28,09426,076408,610659,592
2020-12-31$157.69$158.0014.4%4.3%9.7%11.7%15.9%1.3%0.4%-135.6M330.0M-13.2M0.903.65N/AN/A48,68943,695421,875676,902