TLT Options History — January 2023

In January 2023, TLT traded between $101.16 and $108.53. ATM implied volatility averaged 19.7%, placing in the 30.7% IV rank vs the trailing year. The 30-day expected move averaged 5.7%. IV traded below realized volatility by 0.6% (HV 20d: 20.2%). Max pain ranged from $102.00 to $105.00. Net GEX was positive for 19 of 20 trading days. Term structure was in contango for 5 of 20 days. Put/call ratio averaged 0.96.

Notable Days

  • 2023-01-18: Highest Volume — 471,647 contracts
  • 2023-01-27: Largest IV drop — 6.8% change
  • 2023-01-03: Highest IV Rank — 47.1%
  • 2023-01-03: Largest Expected Move — 6.3%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$105.87$101.16$108.53$101.16$106.59
Max Pain$103.75$102.00$105.00$103.00$105.00
ATM IV19.7%16.9%22.0%22.0%16.9%
Expected Move5.7%5.0%6.3%6.3%5.2%
HV 20d20.2%18.4%22.2%20.1%18.4%
HV 60d21.5%20.9%22.2%21.3%20.9%
IV Rank30.7%10.7%47.1%47.1%10.7%
IV Percentile35.1%4.8%71.4%71.4%4.8%
Term Structure-0.2%-0.7%0.2%-0.2%0.1%
VWIV20.3%17.8%22.3%22.3%18.4%
Skew 25d0.9%0.3%1.4%1.4%0.6%
Skew 10d1.5%0.3%2.9%2.5%0.9%
Call IV 25d19.5%17.0%21.6%21.6%17.0%
Put IV 25d20.4%17.3%23.0%23.0%17.6%
Bid-Ask Spread %11.545.2625.737.9910.29
Gamma HHI0.070.050.100.070.06
Net GEX196.9M-114.4M442.9M-114.4M190.3M
Net DEX-2.13B-4.16B523.3M523.3M-1.76B
Net VEX-22.4M-24.0M-20.7M-22.4M-20.7M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.960.402.241.070.87
Total Volume214,923.3573,902471,647160,00289,206
Total OI2,519,578.351,799,3133,013,7222,625,2791,912,694

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2023-01-03$101.16$103.0022.0%6.3%20.1%47.1%22.3%1.4%-0.2%-114.4M523.3M-22.4M1.077.99N/AN/A77,22682,7761,597,2591,028,020
2023-01-04$102.81$103.0021.7%6.2%21.0%45.2%22.2%1.3%-0.3%7.5M-698.5M-22.6M1.3425.73N/AN/A99,131133,3141,615,6261,044,503
2023-01-05$103.19$102.0021.7%6.2%20.4%45.4%22.3%1.3%-0.2%34.1M-1.01B-23.1M1.307.17N/AN/A95,541123,9421,647,9601,067,590
2023-01-06$105.12$102.0020.5%5.8%19.9%37.2%21.2%0.8%-0.2%169.0M-2.42B-22.8M0.997.45N/AN/A194,709193,5111,674,9691,102,604
2023-01-09$105.52$102.0021.1%6.0%20.0%41.0%21.5%0.7%-0.2%173.4M-2.40B-23.2M0.587.21N/AN/A224,927129,4101,690,5531,111,419
2023-01-10$104.06$102.0021.0%6.0%18.9%40.3%21.0%0.7%-0.1%64.7M-1.37B-24.0M0.4013.07N/AN/A130,36552,7571,787,9021,153,925
2023-01-11$105.47$102.0020.7%6.0%19.6%38.2%21.0%0.7%0.2%212.6M-2.44B-23.8M2.247.32N/AN/A93,682210,2561,807,6921,167,635
2023-01-12$107.59$102.0020.0%5.7%20.6%33.6%20.4%0.8%-0.1%434.2M-4.08B-23.6M0.9117.04N/AN/A200,910183,5741,816,6981,197,024
2023-01-13$106.56$104.0019.3%5.6%20.8%28.8%19.7%1.3%0.1%317.4M-2.90B-23.0M1.1919.45N/AN/A139,639165,9691,794,4081,203,835
2023-01-17$106.06$104.0020.1%5.8%20.8%34.5%20.6%1.4%-0.7%210.8M-2.31B-22.1M1.566.65N/AN/A56,10687,5111,764,7501,066,525
2023-01-18$108.53$104.0019.6%5.6%22.2%30.1%19.9%0.9%-0.5%442.9M-4.16B-22.4M1.227.56N/AN/A212,255259,3921,787,0541,092,805
2023-01-19$107.97$105.0019.8%5.7%21.4%31.1%20.3%0.4%-0.5%387.0M-3.68B-22.6M0.838.61N/AN/A96,57279,9181,809,5691,109,323
2023-01-20$106.31$105.0019.6%5.7%20.9%29.6%20.0%0.8%-0.7%195.7M-2.38B-21.9M0.5314.98N/AN/A126,89867,6801,815,6451,138,199
2023-01-23$105.72$105.0019.1%5.6%21.1%26.2%19.9%1.2%0.1%131.6M-1.31B-20.9M0.446.55N/AN/A96,07142,6831,146,442652,871
2023-01-24$107.18$105.0018.8%5.6%21.5%24.1%19.6%0.6%-0.2%226.9M-2.19B-21.8M0.4016.16N/AN/A117,59146,4971,186,881677,476
2023-01-25$107.32$105.0018.6%5.6%20.4%23.1%19.7%0.5%-0.1%229.2M-2.29B-22.3M0.4415.05N/AN/A71,64231,4421,218,539697,640
2023-01-26$107.02$105.0018.2%5.5%18.9%20.2%19.2%0.7%-0.2%209.1M-2.05B-21.8M0.9410.25N/AN/A56,93353,5931,225,199707,534
2023-01-27$106.88$105.0017.0%5.0%18.7%11.4%17.8%0.3%0.0%243.0M-1.97B-21.6M0.905.26N/AN/A53,09847,8381,246,393730,227
2023-01-30$106.38$105.0017.6%5.4%18.9%16.0%19.4%0.8%-0.1%173.2M-1.65B-21.1M0.9417.00N/AN/A38,09835,8041,205,593690,586
2023-01-31$106.59$105.0016.9%5.2%18.4%10.7%18.4%0.6%0.1%190.3M-1.76B-20.7M0.8710.29N/AN/A47,65641,5501,212,081700,613