TLT Options History — July 2021

In July 2021, TLT traded between $144.07 and $151.57. ATM implied volatility averaged 14.9%, placing in the 31.8% IV rank vs the trailing year. The 30-day expected move averaged 4.3%. IV traded below realized volatility by 0.4% (HV 20d: 15.3%). Max pain ranged from $142.00 to $148.00. Net GEX was positive for 11 of 21 trading days. Term structure was in contango for 15 of 21 days. Put/call ratio averaged 1.42.

Notable Days

2021-07-19: Highest Volume — 374,601 contracts
2021-07-19: Largest IV spike — 20.8% change
2021-07-19: Highest IV Rank — 55.9%
2021-07-19: Largest Expected Move — 5.0%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$147.94	$144.07	$151.57	$144.07	$149.47
Max Pain	$145.62	$142.00	$148.00	$142.00	$148.00
ATM IV	14.9%	12.0%	17.5%	12.7%	15.2%
Expected Move	4.3%	3.4%	5.0%	3.7%	4.4%
HV 20d	15.3%	13.8%	16.3%	14.1%	15.3%
HV 60d	11.9%	10.7%	12.9%	10.7%	12.9%
IV Rank	31.8%	6.0%	55.9%	12.2%	34.8%
IV Percentile	65.8%	7.5%	95.6%	24.2%	73.8%
Term Structure	0.2%	-0.2%	0.7%	0.5%	0.4%
VWIV	15.3%	12.0%	18.3%	13.2%	15.3%
Skew 25d	-0.9%	-2.0%	-0.0%	-0.4%	-0.4%
Skew 10d	-2.4%	-5.0%	-0.5%	-0.5%	-1.4%
Call IV 25d	15.7%	12.3%	19.1%	13.2%	15.6%
Put IV 25d	14.8%	12.1%	17.1%	12.8%	15.2%
Bid-Ask Spread %	34.27	2.48	50.95	2.48	39.07
Gamma HHI	0.07	0.05	0.12	0.05	0.08
Net GEX	37.9M	-167.7M	205.4M	-12.2M	39.3M
Net DEX	-1.54B	-2.89B	-280.8M	-910.1M	-1.55B
Net VEX	-20.4M	-23.6M	-16.6M	-18.3M	-21.7M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	1.42	0.72	2.78	1.15	1.28
Total Volume	118,092.619	32,456	374,601	34,635	93,284
Total OI	1,456,421.333	1,261,047	1,590,555	1,316,109	1,570,771

Daily Data (21 trading days)

Date	Price	Max Pain	ATM IV	Exp Move	HV 20d	IV Rank	VWIV	Skew 25d	Term Str	GEX	DEX	VEX	P/C	Spread %	Call Wall	Put Wall	Call Vol	Put Vol	Call OI	Put OI
2021-07-01	$144.07	$142.00	12.7%	3.7%	14.1%	12.2%	13.2%	-0.4%	0.5%	-12.2M	-910.1M	-18.3M	1.15	2.48	N/A	N/A	16,147	18,488	571,862	744,247
2021-07-02	$144.92	$142.00	12.0%	3.4%	13.8%	6.0%	12.0%	-0.2%	0.5%	205.4M	-1.47B	-17.7M	2.78	3.09	N/A	N/A	26,581	73,837	575,036	748,220
2021-07-06	$146.53	$142.00	13.1%	3.8%	14.1%	16.0%	13.7%	-0.0%	0.1%	152.1M	-2.01B	-16.6M	1.55	33.80	N/A	N/A	41,587	64,584	554,865	718,982
2021-07-07	$148.01	$142.00	15.3%	4.3%	14.3%	35.6%	15.3%	-1.0%	-0.1%	201.7M	-2.64B	-17.3M	1.28	41.10	N/A	N/A	90,051	115,430	567,559	732,958
2021-07-08	$148.81	$144.00	15.6%	4.5%	14.2%	38.6%	15.9%	-1.6%	-0.0%	158.7M	-2.60B	-18.3M	1.50	32.55	N/A	N/A	75,886	114,138	578,566	812,765
2021-07-09	$146.58	$145.00	14.3%	4.2%	15.5%	27.0%	15.0%	-1.0%	0.2%	-27.7M	-1.15B	-19.6M	2.01	36.64	N/A	N/A	40,351	80,960	596,210	884,569
2021-07-12	$146.22	$145.00	14.3%	4.1%	15.5%	26.6%	14.7%	-0.8%	-0.1%	-17.4M	-918.0M	-19.4M	1.97	46.46	N/A	N/A	25,318	49,801	581,308	839,132
2021-07-13	$145.28	$145.00	14.1%	4.1%	15.4%	24.5%	14.5%	-0.4%	0.1%	-90.6M	-280.8M	-19.7M	1.90	44.89	N/A	N/A	46,706	88,869	592,506	866,123
2021-07-14	$146.72	$145.00	13.8%	4.0%	15.6%	21.9%	14.1%	-0.5%	0.1%	-11.8M	-1.14B	-19.1M	1.43	44.78	N/A	N/A	26,458	37,790	596,184	884,159
2021-07-15	$148.49	$145.00	14.5%	4.1%	16.0%	28.5%	14.8%	-1.3%	-0.0%	119.6M	-2.13B	-18.8M	0.87	30.10	N/A	N/A	104,326	91,172	603,988	910,438
2021-07-16	$148.24	$145.00	14.5%	4.1%	15.3%	28.4%	14.9%	-0.7%	-0.2%	127.2M	-2.09B	-20.0M	1.01	32.64	N/A	N/A	50,923	51,614	656,234	934,321
2021-07-19	$151.57	$145.00	17.5%	5.0%	15.8%	55.9%	18.3%	-2.0%	-0.1%	130.3M	-2.89B	-19.4M	1.48	32.72	N/A	N/A	151,035	223,566	565,002	696,045
2021-07-20	$149.96	$147.00	16.9%	4.8%	15.0%	50.0%	17.5%	-1.8%	0.0%	-16.4M	-1.82B	-22.6M	1.47	32.60	N/A	N/A	83,489	122,889	611,942	835,036
2021-07-21	$148.03	$148.00	15.0%	4.3%	15.9%	32.6%	15.5%	-1.1%	0.2%	-167.7M	-513.5M	-23.5M	1.51	37.40	N/A	N/A	54,767	82,896	638,963	892,286
2021-07-22	$149.39	$148.00	15.0%	4.3%	16.1%	32.8%	15.2%	-1.0%	0.4%	-2.3M	-1.60B	-23.2M	0.77	40.57	N/A	N/A	54,934	42,243	661,158	883,565
2021-07-23	$148.53	$148.00	15.5%	4.4%	16.3%	37.7%	15.7%	-1.4%	0.0%	73.6M	-1.14B	-23.6M	1.23	34.62	N/A	N/A	27,184	33,504	686,471	902,166
2021-07-26	$148.01	$148.00	16.1%	4.7%	15.6%	43.2%	16.6%	-1.4%	0.6%	-61.8M	-800.6M	-22.9M	1.34	30.60	N/A	N/A	13,854	18,602	649,842	849,035
2021-07-27	$149.56	$148.00	16.5%	4.8%	15.5%	46.3%	17.1%	-1.2%	0.5%	19.9M	-1.70B	-22.4M	0.72	32.24	N/A	N/A	36,087	25,918	658,368	856,228
2021-07-28	$149.35	$148.00	15.5%	4.4%	15.6%	37.6%	15.8%	-1.0%	0.7%	5.4M	-1.61B	-21.7M	1.70	50.95	N/A	N/A	18,883	32,138	661,958	864,847
2021-07-29	$148.92	$148.00	14.9%	4.3%	15.5%	32.4%	15.2%	-0.8%	0.4%	-28.5M	-1.36B	-21.4M	0.90	40.33	N/A	N/A	17,705	15,950	674,553	876,380
2021-07-30	$149.47	$148.00	15.2%	4.4%	15.3%	34.8%	15.3%	-0.4%	0.4%	39.3M	-1.55B	-21.7M	1.28	39.07	N/A	N/A	40,955	52,329	682,111	888,660