TLT Options History — February 2022

In February 2022, TLT traded between $135.06 and $142.08. ATM implied volatility averaged 17.2%, placing in the 56.0% IV rank vs the trailing year. The 30-day expected move averaged 5.0%. IV traded above realized volatility by 3.5% (HV 20d: 13.7%). Max pain ranged from $140.00 to $145.00. Net GEX was positive for 1 of 19 trading days. Term structure was in contango for 8 of 19 days. Put/call ratio averaged 0.91.

Notable Days

2022-02-11: Highest Volume — 328,911 contracts
2022-02-28: Largest IV spike — 11.4% change
2022-02-28: Highest IV Rank — 100.0%
2022-02-28: Largest Expected Move — 5.9%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$138.15	$135.06	$142.08	$141.78	$139.83
Max Pain	$142.53	$140.00	$145.00	$145.00	$140.00
ATM IV	17.2%	15.5%	19.3%	15.6%	19.3%
Expected Move	5.0%	4.4%	5.9%	4.4%	5.9%
HV 20d	13.7%	12.3%	15.1%	12.9%	15.1%
HV 60d	14.8%	13.7%	15.2%	15.2%	14.4%
IV Rank	56.0%	37.4%	100.0%	38.0%	100.0%
IV Percentile	90.9%	75.8%	100.0%	77.8%	100.0%
Term Structure	-0.1%	-0.6%	0.3%	-0.1%	-0.6%
VWIV	18.0%	15.8%	21.0%	15.9%	21.0%
Skew 25d	0.7%	-0.3%	1.3%	0.8%	-0.3%
Skew 10d	0.9%	-1.8%	2.2%	0.9%	-1.8%
Call IV 25d	17.3%	15.4%	20.1%	15.6%	20.1%
Put IV 25d	18.0%	16.1%	19.8%	16.4%	19.8%
Bid-Ask Spread %	46.65	1.38	74.74	9.46	21.43
Gamma HHI	0.07	0.05	0.10	0.06	0.07
Net GEX	-240.3M	-474.6M	55.6M	-175.3M	55.6M
Net DEX	3.11B	209.0M	5.18B	2.20B	209.0M
Net VEX	-23.9M	-27.7M	-22.1M	-22.9M	-27.7M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.91	0.42	1.65	0.77	0.64
Total Volume	159,356.474	73,992	328,911	73,992	109,410
Total OI	1,452,019.158	1,265,961	1,655,927	1,265,961	1,507,853

Daily Data (19 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
2022-02-01	$141.78	$145.00	15.6%	4.4%	12.9%	38.0%	15.9%	0.8%	-0.1%	-175.3M	2.20B	-22.9M	0.77	9.46	N/A	N/A	41,719	32,273	522,282	743,679
2022-02-02	$142.08	$145.00	15.5%	4.4%	12.3%	37.4%	15.8%	0.3%	-0.1%	-157.7M	2.02B	-23.0M	0.92	1.38	N/A	N/A	46,965	43,160	531,275	752,025
2022-02-03	$141.30	$143.00	15.6%	4.5%	12.4%	38.5%	16.0%	0.6%	-0.2%	-228.1M	2.56B	-22.6M	0.71	74.08	N/A	N/A	52,131	37,119	542,949	763,048
2022-02-04	$138.82	$143.00	15.7%	4.6%	13.7%	39.5%	16.3%	0.7%	-0.1%	-397.3M	3.80B	-22.1M	1.02	68.80	N/A	N/A	108,115	109,761	564,674	775,164
2022-02-07	$139.23	$143.00	16.0%	4.7%	13.7%	42.0%	17.0%	0.9%	0.3%	-263.7M	3.32B	-22.5M	1.63	3.06	N/A	N/A	49,484	80,574	569,571	772,128
2022-02-08	$138.31	$143.00	15.8%	4.6%	13.8%	40.6%	16.7%	0.9%	0.3%	-321.4M	3.83B	-22.1M	1.09	29.33	N/A	N/A	111,094	120,883	580,426	804,719
2022-02-09	$138.44	$145.00	15.7%	4.6%	13.6%	39.1%	16.2%	1.3%	0.3%	-299.6M	3.75B	-22.4M	0.73	5.18	N/A	N/A	60,648	44,025	585,150	857,336
2022-02-10	$136.37	$145.00	16.7%	4.9%	14.4%	48.7%	17.5%	1.0%	0.3%	-408.6M	4.89B	-22.2M	1.65	7.12	N/A	N/A	91,919	151,597	610,508	869,993
2022-02-11	$137.94	$144.00	18.4%	5.2%	14.7%	64.0%	19.5%	0.1%	-0.6%	-294.6M	3.74B	-24.5M	1.27	70.29	N/A	N/A	145,057	183,854	647,459	914,716
2022-02-14	$136.90	$143.00	18.8%	5.4%	13.7%	67.9%	19.0%	1.1%	-0.4%	-365.0M	4.21B	-24.1M	0.76	72.93	N/A	N/A	71,926	54,721	645,194	931,369
2022-02-15	$135.06	$142.00	18.2%	5.2%	14.0%	62.1%	18.5%	1.2%	-0.1%	-474.6M	5.18B	-22.8M	0.94	70.25	N/A	N/A	68,683	64,549	672,569	919,825
2022-02-16	$135.55	$142.00	17.2%	4.9%	13.7%	52.7%	17.8%	1.2%	-0.3%	-452.6M	4.69B	-22.9M	0.97	69.98	N/A	N/A	58,973	57,188	690,847	899,890
2022-02-17	$136.42	$142.00	18.4%	5.3%	13.9%	63.7%	19.1%	0.7%	-0.2%	-366.6M	3.98B	-23.8M	0.71	74.05	N/A	N/A	94,854	67,456	711,912	899,498
2022-02-18	$137.95	$142.00	18.0%	5.2%	13.9%	60.8%	18.5%	0.4%	-0.2%	-62.1M	2.87B	-25.3M	0.71	72.29	N/A	N/A	132,767	94,299	750,248	905,679
2022-02-22	$138.14	$141.00	18.4%	5.3%	13.9%	63.8%	19.0%	0.8%	0.0%	-73.4M	1.62B	-25.5M	0.42	73.54	N/A	N/A	109,290	45,802	586,345	716,900
2022-02-23	$137.01	$140.00	18.2%	5.3%	14.0%	62.0%	19.4%	0.3%	0.3%	-97.2M	1.97B	-25.9M	0.68	74.74	N/A	N/A	53,145	35,898	659,078	738,070
2022-02-24	$136.75	$140.00	18.2%	5.4%	13.9%	62.4%	19.5%	0.2%	0.2%	-103.1M	2.16B	-25.7M	0.56	44.75	N/A	N/A	150,452	84,988	676,048	743,204
2022-02-25	$136.94	$140.00	17.3%	5.2%	12.8%	80.0%	18.5%	0.5%	0.1%	-80.9M	2.12B	-26.5M	1.03	43.66	N/A	N/A	80,328	82,666	745,252	781,481
2022-02-28	$139.83	$140.00	19.3%	5.9%	15.1%	100.0%	21.0%	-0.3%	-0.6%	55.6M	209.0M	-27.7M	0.64	21.43	N/A	N/A	66,875	42,535	726,328	781,525