TLT Options History — April 2023

In April 2023, TLT traded between $103.88 and $108.56. ATM implied volatility averaged 17.3%, placing in the 8.8% IV rank vs the trailing year. The 30-day expected move averaged 4.9%. IV traded above realized volatility by 1.0% (HV 20d: 16.3%). Max pain ranged from $105.00 to $105.00. Net GEX was positive for 17 of 19 trading days. Term structure was in contango for 6 of 19 days. Put/call ratio averaged 0.70.

Notable Days

  • 2023-04-28: Highest Volume — 386,298 contracts
  • 2023-04-20: Largest IV drop — 5.7% change
  • 2023-04-06: Highest IV Rank — 24.6%
  • 2023-04-06: Largest Expected Move — 5.5%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$105.95$103.88$108.56$106.55$106.56
Max Pain$105.00$105.00$105.00$105.00$105.00
ATM IV17.3%15.6%19.7%19.3%15.9%
Expected Move4.9%4.5%5.5%5.5%4.6%
HV 20d16.3%12.7%20.8%20.7%15.2%
HV 60d17.7%17.0%18.9%18.9%17.8%
IV Rank8.8%0.0%24.6%22.2%2.3%
IV Percentile8.0%0.0%30.2%24.2%0.8%
Term Structure-0.0%-0.3%0.3%0.1%-0.1%
VWIV17.7%15.8%19.9%19.4%16.3%
Skew 25d-0.3%-0.9%0.3%-0.6%-0.3%
Skew 10d-0.3%-2.1%1.1%-0.8%0.1%
Call IV 25d17.7%15.7%20.4%20.1%16.2%
Put IV 25d17.4%15.8%19.5%19.5%16.0%
Bid-Ask Spread %24.1618.0331.1529.4528.72
Gamma HHI0.050.040.060.050.05
Net GEX162.2M-32.2M337.4M229.1M314.2M
Net DEX-1.67B-3.49B20.2M-2.23B-2.48B
Net VEX-21.2M-24.6M-19.2M-21.7M-24.6M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.700.141.811.200.30
Total Volume160,474.31687,587386,29888,521386,298
Total OI1,989,749.6321,737,3032,189,6321,802,4482,137,286

Daily Data (19 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2023-04-03$106.55$105.0019.3%5.5%20.7%22.2%19.4%-0.6%0.1%229.1M-2.23B-21.7M1.2029.45N/AN/A40,21748,3041,168,119634,329
2023-04-04$107.41$105.0019.4%5.5%20.7%22.5%19.3%-0.8%-0.0%275.9M-2.81B-21.8M0.7028.72N/AN/A64,42145,1861,173,915647,655
2023-04-05$108.19$105.0019.0%5.2%20.8%19.6%18.7%-0.5%0.3%328.6M-3.29B-22.2M0.7629.00N/AN/A92,50670,0761,199,532662,570
2023-04-06$108.56$105.0019.7%5.5%20.8%24.6%19.5%-0.9%-0.1%337.4M-3.49B-22.0M0.4124.32N/AN/A215,61988,1121,220,759693,038
2023-04-10$106.94$105.0018.8%5.3%18.5%18.3%19.9%-0.8%-0.1%197.9M-2.13B-21.8M0.4629.31N/AN/A138,79063,6681,251,820694,882
2023-04-11$106.94$105.0018.4%5.2%18.4%15.5%18.7%-0.8%-0.3%223.3M-2.22B-22.7M1.2631.15N/AN/A38,85648,8591,329,132701,610
2023-04-12$106.63$105.0017.6%5.0%17.4%9.4%18.3%-0.7%0.0%188.0M-1.98B-22.0M0.6324.98N/AN/A71,92145,3991,347,930723,925
2023-04-13$105.98$105.0016.9%4.8%16.2%4.2%17.2%-0.6%-0.2%119.3M-1.48B-21.6M0.4820.04N/AN/A80,01038,2941,370,054732,627
2023-04-14$105.06$105.0016.3%4.6%16.1%0.0%16.5%0.1%-0.2%-13.4M-657.5M-20.4M0.7922.27N/AN/A86,65968,5591,360,709735,648
2023-04-17$103.88$105.0016.5%4.7%14.9%2.0%16.9%0.3%-0.2%-32.2M20.2M-19.2M0.9722.96N/AN/A79,96877,2201,355,867711,414
2023-04-18$104.23$105.0016.4%4.7%14.7%1.0%17.0%-0.2%-0.1%19.0M-489.0M-19.6M0.6018.03N/AN/A65,66739,2131,380,245701,365
2023-04-19$104.10$105.0017.0%4.9%13.9%5.4%17.7%0.2%-0.1%6.0M-392.8M-20.0M1.8119.16N/AN/A51,70293,6091,417,274717,181
2023-04-20$104.81$105.0016.0%4.6%13.7%0.0%16.5%0.2%-0.1%86.8M-967.8M-20.0M0.7724.43N/AN/A49,34738,2401,429,870736,551
2023-04-21$104.40$105.0015.6%4.5%13.6%0.0%15.8%0.2%-0.1%71.7M-535.2M-19.6M0.6518.39N/AN/A71,81546,6411,443,632746,000
2023-04-24$105.32$105.0015.7%4.5%13.9%0.9%16.3%0.1%-0.0%151.2M-1.44B-20.2M0.4121.04N/AN/A102,14841,9101,191,724545,579
2023-04-25$107.00$105.0016.5%4.8%12.7%6.7%17.4%-0.5%0.1%277.7M-2.52B-21.5M0.7018.70N/AN/A85,45659,9471,254,660567,553
2023-04-26$105.78$105.0016.5%4.8%13.5%6.7%17.3%-0.4%0.1%198.8M-1.75B-21.3M0.3422.94N/AN/A123,28141,3831,274,671590,759
2023-04-27$104.63$105.0016.3%4.7%14.0%5.5%17.2%-0.1%0.2%102.1M-963.1M-21.3M0.1425.40N/AN/A219,21230,4991,352,794602,564
2023-04-28$106.56$105.0015.9%4.6%15.2%2.3%16.3%-0.3%-0.1%314.2M-2.48B-24.6M0.3028.72N/AN/A297,86788,4311,528,087609,199