TLT Options History — July 2023

In July 2023, TLT traded between $99.10 and $102.82. ATM implied volatility averaged 13.9%, placing in the 6.0% IV rank vs the trailing year. The 30-day expected move averaged 3.9%. IV traded below realized volatility by 0.2% (HV 20d: 14.1%). Max pain ranged from $102.00 to $104.00. Net GEX was positive for 12 of 20 trading days. Term structure was in contango for 10 of 20 days. Put/call ratio averaged 0.82.

Notable Days

  • 2023-07-06: Highest Volume — 327,990 contracts
  • 2023-07-27: Largest IV spike — 15.0% change
  • 2023-07-10: Highest IV Rank — 15.6%
  • 2023-07-07: Largest Expected Move — 4.6%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$100.83$99.10$102.82$102.13$99.82
Max Pain$102.80$102.00$104.00$104.00$102.00
ATM IV13.9%12.3%15.8%13.9%13.3%
Expected Move3.9%3.5%4.6%3.6%3.7%
HV 20d14.1%13.0%15.0%14.0%13.0%
HV 60d15.3%12.7%15.9%15.6%12.7%
IV Rank6.0%0.0%15.6%3.9%5.7%
IV Percentile3.7%0.0%9.9%3.2%3.6%
Term Structure0.1%-0.3%0.5%0.5%-0.2%
VWIV13.9%12.6%16.0%12.7%13.2%
Skew 25d0.8%0.3%1.7%0.4%1.5%
Skew 10d2.0%0.7%4.1%0.9%3.2%
Call IV 25d13.7%12.1%15.6%14.0%13.1%
Put IV 25d14.6%13.1%16.7%14.3%14.6%
Bid-Ask Spread %11.291.7229.581.9629.58
Gamma HHI0.060.050.090.050.05
Net GEX36.5M-156.1M266.7M79.6M-68.1M
Net DEX22.0M-1.63B1.48B-562.0M851.1M
Net VEX-23.3M-27.4M-19.9M-27.4M-20.3M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.820.331.300.930.94
Total Volume167,593.8566,829327,99066,829185,555
Total OI3,438,004.43,168,8433,613,9243,350,6423,302,506

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2023-07-03$102.13$104.0013.9%3.6%14.0%3.9%12.7%0.4%0.5%79.6M-562.0M-27.4M0.931.96N/AN/A34,69132,1382,612,618738,024
2023-07-05$100.85$103.0015.0%4.2%14.7%11.0%14.3%0.5%0.2%-26.7M343.1M-24.7M1.211.72N/AN/A134,255162,9902,625,037730,414
2023-07-06$99.77$104.0015.8%4.5%15.0%15.3%15.9%0.9%-0.0%-83.8M910.1M-25.7M1.0017.62N/AN/A164,061163,9292,667,619761,472
2023-07-07$99.10$103.0015.8%4.6%14.3%15.6%16.0%1.0%0.4%-156.1M1.27B-24.4M0.581.82N/AN/A133,01077,0722,711,115766,160
2023-07-10$99.28$103.0015.8%4.5%13.7%15.6%15.8%1.1%-0.0%-35.1M889.3M-24.5M0.7114.00N/AN/A90,23063,8982,715,281761,061
2023-07-11$99.62$103.0015.6%4.4%13.8%14.4%15.5%1.0%-0.2%2.2M574.4M-25.1M0.334.03N/AN/A80,98527,0682,743,687770,793
2023-07-12$100.84$102.0014.3%4.1%14.6%6.8%14.4%0.5%-0.2%207.2M-444.6M-24.3M0.7712.58N/AN/A148,482114,5612,791,939775,613
2023-07-13$101.70$102.0013.7%3.8%14.5%2.7%13.8%0.3%-0.3%229.4M-991.4M-23.2M0.6012.62N/AN/A127,97777,0972,776,951791,052
2023-07-14$101.31$102.0013.6%3.9%14.3%2.3%13.9%0.7%-0.1%114.1M-614.0M-25.1M0.7412.43N/AN/A60,01244,5502,762,760809,756
2023-07-17$101.28$102.0013.5%3.8%13.9%1.5%13.7%0.7%-0.0%-1.5M-236.0M-22.4M0.6712.62N/AN/A87,77558,5922,706,467784,822
2023-07-18$101.77$103.0013.3%3.8%14.0%0.4%13.7%0.5%-0.1%83.2M-697.8M-22.6M1.2012.63N/AN/A50,30060,2822,729,321789,625
2023-07-19$102.82$103.0013.2%3.8%14.3%0.0%13.6%0.7%-0.1%266.7M-1.63B-23.6M1.3012.70N/AN/A74,58397,1002,745,060799,699
2023-07-20$101.72$103.0012.9%3.7%14.7%0.0%12.8%0.9%0.0%66.2M-637.4M-22.7M0.6917.04N/AN/A68,71047,6522,766,198812,403
2023-07-21$101.77$103.0012.3%3.5%14.1%0.0%12.6%1.1%0.1%138.9M-716.4M-22.8M0.3713.00N/AN/A85,23831,3842,790,985822,939
2023-07-24$101.31$103.0012.7%3.6%13.6%1.8%13.2%0.7%0.4%66.6M-283.6M-22.8M1.007.51N/AN/A55,59955,3912,510,865657,978
2023-07-25$101.13$103.0013.2%3.8%13.6%5.0%13.4%0.8%0.5%38.4M-80.2M-22.8M0.626.01N/AN/A71,22644,0372,533,487691,329
2023-07-26$101.25$103.0012.6%3.6%13.6%1.7%12.9%0.7%0.5%61.2M-204.0M-22.5M1.1312.85N/AN/A36,87441,7012,570,022713,233
2023-07-27$99.28$103.0014.5%4.2%15.0%12.6%14.7%1.7%0.4%-134.2M1.48B-19.9M0.7910.07N/AN/A173,859137,5342,577,270736,398
2023-07-28$99.75$102.0013.0%3.6%13.9%3.9%12.7%1.5%0.5%-118.4M1.23B-20.0M0.8013.02N/AN/A84,11667,3632,631,620776,509
2023-07-31$99.82$102.0013.3%3.7%13.0%5.7%13.2%1.5%-0.2%-68.1M851.1M-20.3M0.9429.58N/AN/A95,70589,8502,562,590739,916