TLT Options History — March 2021

In March 2021, TLT traded between $134.31 and $140.72. ATM implied volatility averaged 16.3%, placing in the 17.5% IV rank vs the trailing year. The 30-day expected move averaged 4.7%. IV traded below realized volatility by 0.8% (HV 20d: 17.1%). Max pain ranged from $139.00 to $148.00. Net GEX was positive for 0 of 23 trading days. Term structure was in contango for 8 of 23 days. Put/call ratio averaged 0.96.

Notable Days

  • 2021-03-16: Highest Volume — 303,925 contracts
  • 2021-03-12: Largest IV spike — 20.8% change
  • 2021-03-31: Highest IV Rank — 36.2%
  • 2021-03-01: Largest Expected Move — 5.4%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$137.46$134.31$140.72$140.53$135.76
Max Pain$141.48$139.00$148.00$148.00$139.00
ATM IV16.3%14.8%18.2%18.2%16.4%
Expected Move4.7%4.3%5.4%5.4%4.8%
HV 20d17.1%13.1%19.0%17.3%13.3%
HV 60d13.5%12.7%14.2%13.4%14.2%
IV Rank17.5%9.2%36.2%18.0%36.2%
IV Percentile65.9%48.0%84.9%81.3%71.0%
Term Structure-0.1%-0.7%0.6%-0.4%-0.4%
VWIV17.0%15.2%19.2%19.2%17.0%
Skew 25d2.2%0.7%3.6%2.1%2.2%
Skew 10d3.2%-2.3%6.3%2.6%2.0%
Call IV 25d15.9%14.5%17.8%17.8%15.9%
Put IV 25d18.1%16.5%20.6%19.9%18.1%
Bid-Ask Spread %18.212.3443.742.9317.09
Gamma HHI0.100.080.140.110.12
Net GEX-230.9M-340.6M-106.2M-224.8M-230.2M
Net DEX3.61B1.42B5.67B3.46B2.60B
Net VEX-18.4M-20.0M-17.1M-18.5M-19.0M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.960.383.290.530.95
Total Volume142,781.65255,611303,925159,16766,500
Total OI1,533,766.9131,348,7111,933,8851,428,4801,387,927

Daily Data (23 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2021-03-01$140.53$148.0018.2%5.4%17.3%18.0%19.2%2.1%-0.4%-224.8M3.46B-18.5M0.532.93N/AN/A104,10655,061719,991708,489
2021-03-02$140.72$147.0015.4%4.7%17.3%10.6%16.7%1.6%0.0%-211.1M3.32B-18.1M0.683.20N/AN/A71,04148,481754,357711,136
2021-03-03$139.65$147.0016.6%5.1%17.3%13.8%18.1%0.7%-0.0%-248.9M3.83B-17.8M0.582.53N/AN/A74,72743,436762,941722,741
2021-03-04$138.71$144.0017.4%4.8%17.2%15.9%17.9%1.4%-0.3%-282.8M4.30B-17.5M0.3843.74N/AN/A133,28750,767777,266733,747
2021-03-05$138.83$143.0016.6%4.8%17.3%13.8%17.3%1.1%-0.2%-326.3M4.15B-17.6M0.9022.72N/AN/A62,91156,914820,230738,819
2021-03-08$138.25$143.0017.0%4.9%17.2%14.7%17.8%1.5%0.1%-250.6M4.11B-17.3M0.4725.21N/AN/A103,51348,826761,742715,800
2021-03-09$139.67$143.0015.8%4.5%17.7%11.5%16.2%1.7%-0.2%-182.1M3.38B-17.9M0.8125.85N/AN/A46,25437,660809,786737,160
2021-03-10$139.89$142.0014.8%4.3%17.7%9.2%15.2%1.6%-0.1%-206.5M3.40B-17.5M3.2931.24N/AN/A37,385123,152812,491748,512
2021-03-11$139.03$141.0015.1%4.4%17.4%9.8%15.7%1.4%0.5%-280.8M3.82B-17.1M1.0523.76N/AN/A47,93950,538821,927759,472
2021-03-12$135.94$141.0018.2%5.2%18.7%18.6%18.5%2.7%-0.0%-282.4M5.32B-17.4M1.2625.26N/AN/A115,593145,341832,190778,448
2021-03-15$136.68$140.0017.1%4.9%18.7%15.4%17.5%3.1%-0.3%-254.6M4.72B-17.5M0.6728.33N/AN/A54,17536,527834,949773,320
2021-03-16$136.22$140.0016.3%4.7%18.1%13.4%18.7%2.8%-0.7%-245.0M4.86B-17.1M2.5428.90N/AN/A85,802218,123860,703772,307
2021-03-17$135.17$140.0016.8%4.8%17.9%14.6%17.0%2.7%-0.0%-340.6M5.56B-18.8M0.6931.78N/AN/A136,55594,837888,985904,776
2021-03-18$134.31$140.0018.0%5.2%17.9%17.9%18.8%3.6%-0.3%-327.5M5.67B-19.7M1.3528.22N/AN/A105,358142,643942,982907,652
2021-03-19$134.33$139.0017.5%5.1%17.6%16.7%18.0%3.1%-0.2%-286.4M5.53B-20.0M1.1438.08N/AN/A91,747104,661994,238939,647
2021-03-22$136.32$139.0016.1%4.7%18.6%15.4%16.8%2.7%-0.0%-176.8M2.50B-19.5M0.722.57N/AN/A63,69845,846565,427808,744
2021-03-23$137.50$139.0015.1%4.5%18.9%12.1%16.1%2.3%0.6%-125.5M1.73B-19.6M0.862.63N/AN/A58,82750,446589,796821,344
2021-03-24$138.11$140.0014.9%4.3%19.0%14.6%15.5%2.2%0.1%-106.2M1.42B-19.4M0.702.63N/AN/A87,42761,176596,274838,253
2021-03-25$137.33$140.0015.1%4.4%17.7%23.9%15.6%1.8%0.4%-137.9M1.90B-19.4M0.562.34N/AN/A70,23539,144608,855836,902
2021-03-26$136.72$140.0015.4%4.4%13.4%26.5%15.4%2.2%0.1%-107.6M2.34B-19.2M0.862.40N/AN/A42,90736,761618,561841,809
2021-03-29$135.47$140.0016.0%4.7%13.1%31.1%16.8%2.8%-0.7%-263.0M2.85B-18.7M0.604.22N/AN/A48,83529,205574,180774,531
2021-03-30$136.43$139.0015.6%4.5%13.4%28.3%15.8%2.3%0.2%-212.7M2.33B-18.9M0.5223.20N/AN/A36,55519,056595,500771,732
2021-03-31$135.76$139.0016.4%4.8%13.3%36.2%17.0%2.2%-0.4%-230.2M2.60B-19.0M0.9517.09N/AN/A34,07732,423610,776777,151