TLT Options History — December 2022

In December 2022, TLT traded between $99.63 and $109.38. ATM implied volatility averaged 21.3%, placing in the 43.4% IV rank vs the trailing year. The 30-day expected move averaged 6.1%. IV traded below realized volatility by 0.5% (HV 20d: 21.8%). Max pain ranged from $100.00 to $105.00. Net GEX was positive for 16 of 21 trading days. Term structure was in contango for 14 of 21 days. Put/call ratio averaged 1.25.

Notable Days

2022-12-21: Highest Volume — 513,346 contracts
2022-12-27: Largest IV spike — 10.5% change
2022-12-27: Highest IV Rank — 56.2%
2022-12-27: Largest Expected Move — 6.7%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$105.05	$99.63	$109.38	$105.44	$99.69
Max Pain	$103.79	$100.00	$105.00	$100.00	$103.00
ATM IV	21.3%	19.5%	23.2%	20.2%	21.5%
Expected Move	6.1%	5.7%	6.7%	6.3%	6.0%
HV 20d	21.8%	19.7%	23.4%	23.4%	19.7%
HV 60d	21.9%	20.7%	22.8%	21.5%	21.1%
IV Rank	43.4%	31.7%	56.2%	36.2%	44.6%
IV Percentile	62.1%	41.3%	85.7%	50.4%	63.5%
Term Structure	0.1%	-0.5%	0.9%	-0.1%	0.9%
VWIV	21.8%	19.8%	23.5%	22.8%	22.0%
Skew 25d	0.6%	-1.1%	2.5%	0.1%	1.5%
Skew 10d	0.8%	-2.6%	4.6%	0.4%	3.0%
Call IV 25d	21.4%	19.7%	23.3%	20.6%	20.7%
Put IV 25d	21.9%	19.6%	24.8%	20.7%	22.3%
Bid-Ask Spread %	8.43	1.95	22.27	13.58	6.02
Gamma HHI	0.07	0.05	0.11	0.06	0.11
Net GEX	209.4M	-208.2M	605.1M	486.9M	-208.2M
Net DEX	-2.13B	-5.47B	1.80B	-4.04B	1.62B
Net VEX	-24.4M	-27.0M	-22.4M	-24.5M	-22.4M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	1.25	0.28	5.40	0.40	1.89
Total Volume	258,259.714	119,743	513,346	276,533	260,874
Total OI	2,600,448.19	2,167,708	2,737,442	2,646,333	2,626,548

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
2022-12-01	$105.44	$100.00	20.2%	6.3%	23.4%	36.2%	22.8%	0.1%	-0.1%	486.9M	-4.04B	-24.5M	0.40	13.58	N/A	N/A	197,751	78,782	1,989,333	657,000
2022-12-02	$106.57	$100.50	19.5%	6.1%	23.3%	31.7%	22.4%	-0.0%	0.1%	605.1M	-4.65B	-24.4M	0.51	14.90	N/A	N/A	193,058	98,738	2,025,555	684,292
2022-12-05	$105.63	$103.00	20.4%	5.8%	22.6%	37.5%	21.1%	-0.2%	0.4%	369.4M	-3.41B	-24.2M	0.57	7.33	N/A	N/A	150,382	85,096	1,936,196	663,620
2022-12-06	$107.02	$103.00	20.9%	5.9%	22.0%	41.0%	21.0%	-0.4%	0.2%	374.4M	-4.09B	-24.5M	0.69	3.96	N/A	N/A	111,981	77,370	1,908,966	693,847
2022-12-07	$109.38	$104.00	22.2%	6.3%	22.6%	49.9%	22.5%	-1.1%	0.1%	395.1M	-5.47B	-26.2M	0.34	6.26	N/A	N/A	278,123	94,520	1,901,410	732,421
2022-12-08	$109.16	$104.00	21.7%	6.2%	22.6%	46.7%	22.2%	-0.8%	0.3%	396.0M	-5.14B	-25.8M	0.51	10.80	N/A	N/A	92,799	47,616	1,934,398	773,326
2022-12-09	$106.63	$105.00	21.0%	6.0%	21.6%	41.8%	21.4%	-0.7%	0.3%	310.6M	-3.30B	-25.0M	0.53	9.07	N/A	N/A	157,677	83,956	1,925,867	784,050
2022-12-12	$106.50	$105.00	22.5%	6.4%	21.5%	51.6%	22.5%	-0.0%	-0.2%	316.8M	-3.24B	-24.4M	0.49	10.17	N/A	N/A	80,096	39,647	1,935,033	752,465
2022-12-13	$107.60	$105.00	22.3%	6.3%	21.3%	50.1%	22.3%	-0.0%	-0.5%	350.2M	-3.95B	-24.6M	0.28	5.84	N/A	N/A	162,694	45,723	1,947,008	757,914
2022-12-14	$108.18	$105.00	20.8%	5.9%	20.8%	40.1%	20.8%	0.1%	-0.3%	371.0M	-4.33B	-24.1M	0.28	4.14	N/A	N/A	185,939	51,251	1,970,659	766,783
2022-12-15	$108.27	$105.00	20.1%	5.7%	20.0%	35.5%	21.0%	0.1%	-0.4%	407.0M	-3.67B	-24.1M	0.58	2.13	N/A	N/A	150,248	86,988	1,916,271	782,630
2022-12-16	$107.31	$105.00	20.0%	5.7%	19.9%	34.9%	19.8%	0.7%	-0.2%	254.6M	-2.87B	-23.6M	1.61	3.82	N/A	N/A	102,783	165,057	1,887,474	802,818
2022-12-19	$105.53	$105.00	20.0%	5.7%	20.9%	35.0%	20.4%	0.7%	0.3%	191.1M	-1.82B	-22.8M	1.01	1.95	N/A	N/A	110,479	111,370	1,556,444	611,264
2022-12-20	$103.47	$105.00	21.5%	6.1%	22.4%	44.8%	22.5%	1.6%	-0.1%	85.3M	-425.7M	-24.6M	1.72	19.46	N/A	N/A	134,905	232,463	1,532,985	810,487
2022-12-21	$103.63	$104.00	21.6%	6.2%	22.0%	45.7%	22.2%	1.3%	0.4%	56.7M	-343.9M	-27.0M	3.73	4.86	N/A	N/A	108,477	404,869	1,565,430	962,088
2022-12-22	$103.80	$104.00	21.1%	6.0%	21.2%	42.2%	21.5%	1.3%	0.1%	68.7M	-644.4M	-25.8M	1.63	3.66	N/A	N/A	76,602	124,757	1,593,690	944,012
2022-12-23	$102.06	$104.00	21.0%	6.0%	22.0%	41.5%	21.8%	1.7%	0.1%	-95.8M	617.6M	-24.8M	1.14	3.70	N/A	N/A	83,990	96,049	1,597,715	961,571
2022-12-27	$100.16	$104.00	23.2%	6.7%	22.7%	56.2%	22.7%	2.5%	0.5%	-89.1M	1.53B	-23.8M	1.22	3.52	N/A	N/A	123,458	150,026	1,572,080	949,632
2022-12-28	$99.63	$103.00	23.1%	6.6%	22.5%	55.2%	23.5%	2.0%	0.4%	-118.2M	1.80B	-23.6M	5.40	19.54	N/A	N/A	68,900	371,960	1,604,525	971,620
2022-12-29	$100.48	$103.00	22.1%	6.3%	22.7%	48.6%	22.1%	1.7%	0.8%	-131.4M	1.10B	-23.4M	1.63	22.27	N/A	N/A	55,469	90,531	1,629,772	990,213
2022-12-30	$99.69	$103.00	21.5%	6.0%	19.7%	44.6%	22.0%	1.5%	0.9%	-208.2M	1.62B	-22.4M	1.89	6.02	N/A	N/A	90,355	170,519	1,638,303	988,245