TLT Options History — February 2023

In February 2023, TLT traded between $100.44 and $108.30. ATM implied volatility averaged 17.7%, placing in the 12.5% IV rank vs the trailing year. The 30-day expected move averaged 5.1%. IV traded above realized volatility by 1.8% (HV 20d: 16.0%). Max pain ranged from $103.00 to $105.00. Net GEX was positive for 11 of 19 trading days. Term structure was in contango for 10 of 19 days. Put/call ratio averaged 0.85.

Notable Days

  • 2023-02-21: Highest Volume — 304,644 contracts
  • 2023-02-21: Largest IV spike — 12.3% change
  • 2023-02-21: Highest IV Rank — 26.7%
  • 2023-02-21: Largest Expected Move — 5.7%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$103.68$100.44$108.30$108.19$101.40
Max Pain$104.26$103.00$105.00$105.00$103.00
ATM IV17.7%16.4%19.9%17.2%19.1%
Expected Move5.1%4.7%5.7%5.1%5.7%
HV 20d16.0%13.4%18.8%18.5%15.3%
HV 60d19.7%19.0%21.1%21.1%19.2%
IV Rank12.5%4.1%26.7%11.7%20.5%
IV Percentile10.8%2.4%37.7%5.2%23.0%
Term Structure0.0%-0.4%0.5%-0.0%-0.4%
VWIV18.2%17.0%20.6%17.9%20.0%
Skew 25d1.2%0.4%1.6%0.4%1.3%
Skew 10d2.4%0.4%3.5%0.4%2.3%
Call IV 25d17.3%16.2%19.4%17.3%18.3%
Put IV 25d18.5%16.8%20.9%17.7%19.6%
Bid-Ask Spread %9.751.9423.0118.1223.01
Gamma HHI0.070.050.130.070.06
Net GEX29.4M-228.3M329.7M312.6M13.8M
Net DEX-398.9M-2.91B1.06B-2.91B235.4M
Net VEX-19.1M-21.6M-17.1M-21.6M-18.7M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.850.412.211.030.80
Total Volume161,570.10552,205304,644189,73952,205
Total OI2,020,378.7891,849,1972,114,7591,941,6522,004,341

Daily Data (19 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2023-02-01$108.19$105.0017.2%5.1%18.5%11.7%17.9%0.4%-0.0%312.6M-2.91B-21.6M1.0318.12N/AN/A93,47796,2621,226,476715,176
2023-02-02$108.30$105.0016.7%4.9%17.8%8.4%17.2%0.5%-0.0%329.7M-2.84B-21.2M0.475.74N/AN/A152,49471,9201,238,803759,102
2023-02-03$106.75$105.0016.4%4.7%18.8%6.2%17.0%0.5%-0.0%194.9M-1.74B-20.9M0.531.94N/AN/A144,30876,3501,276,780792,832
2023-02-06$105.94$105.0017.0%5.0%18.0%9.8%17.5%1.2%0.2%121.1M-1.24B-20.3M0.416.32N/AN/A80,82732,8741,249,423729,567
2023-02-07$105.07$105.0017.0%5.0%18.2%9.2%17.7%1.0%0.5%44.8M-740.7M-19.6M0.729.59N/AN/A68,41749,4201,246,096738,618
2023-02-08$105.40$105.0016.7%4.9%17.5%7.4%17.5%1.1%0.4%82.3M-984.1M-19.8M0.6810.35N/AN/A100,89969,1011,265,837744,925
2023-02-09$104.52$105.0016.9%4.9%17.1%9.0%17.6%1.1%0.3%-7.4M-440.8M-19.5M0.706.81N/AN/A124,77787,0301,284,956746,674
2023-02-10$103.23$105.0017.3%5.0%15.8%11.3%17.4%1.3%0.3%-53.9M405.8M-18.7M1.3710.80N/AN/A89,152121,9321,306,624761,189
2023-02-13$104.13$105.0018.1%5.2%15.9%12.6%18.2%1.2%0.3%55.3M-480.9M-19.4M0.636.21N/AN/A78,97550,0331,304,512743,547
2023-02-14$104.00$105.0017.4%5.0%15.9%7.6%17.5%1.5%0.4%19.5M-302.7M-18.7M1.325.57N/AN/A55,45673,4721,294,962764,929
2023-02-15$102.94$105.0016.9%4.8%13.4%4.1%17.0%1.4%0.3%-91.5M316.5M-17.5M0.683.90N/AN/A88,59860,5911,308,408772,222
2023-02-16$101.53$104.0017.6%5.0%14.0%9.4%17.9%1.5%0.5%-228.3M1.06B-17.3M1.064.95N/AN/A70,01474,2081,329,350772,022
2023-02-17$102.25$104.0017.8%5.1%13.6%10.3%17.3%1.4%0.2%-169.9M361.7M-17.5M0.5013.91N/AN/A125,07863,1211,346,895767,864
2023-02-21$100.44$103.0019.9%5.7%14.7%26.7%20.0%1.5%-0.4%-30.7M759.6M-17.1M0.839.14N/AN/A166,060138,5841,193,763655,434
2023-02-22$101.19$103.0019.1%5.4%13.9%20.4%20.6%1.6%-0.4%-7.1M394.4M-18.9M2.218.97N/AN/A50,751111,9581,268,688743,588
2023-02-23$102.31$103.0018.4%5.3%14.7%15.4%18.6%1.6%-0.4%71.2M-242.3M-18.8M0.5910.86N/AN/A80,99647,8311,281,370737,568
2023-02-24$101.06$103.0018.7%5.4%15.1%17.3%18.9%1.4%-0.4%-101.1M506.3M-18.2M0.869.83N/AN/A67,06357,8881,311,899757,406
2023-02-27$101.19$103.0019.1%5.7%15.2%20.3%19.8%1.4%-0.4%2.9M297.7M-18.2M0.6919.14N/AN/A57,95039,7601,214,205731,146
2023-02-28$101.40$103.0019.1%5.7%15.3%20.5%20.0%1.3%-0.4%13.8M235.4M-18.7M0.8023.01N/AN/A28,96123,2441,248,483755,858