TLT Options History — September 2023

In September 2023, TLT traded between $88.22 and $94.94. ATM implied volatility averaged 15.8%, placing in the 20.1% IV rank vs the trailing year. The 30-day expected move averaged 4.5%. IV traded above realized volatility by 0.6% (HV 20d: 15.2%). Max pain ranged from $93.00 to $98.00. Net GEX was positive for 4 of 20 trading days. Term structure was in contango for 14 of 20 days. Put/call ratio averaged 0.96.

Notable Days

  • 2023-09-27: Highest Volume — 403,931 contracts
  • 2023-09-25: Largest IV spike — 26.9% change
  • 2023-09-27: Highest IV Rank — 45.1%
  • 2023-09-27: Largest Expected Move — 5.9%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$92.24$88.22$94.94$94.94$88.59
Max Pain$95.85$93.00$98.00$96.00$93.00
ATM IV15.8%13.4%20.2%15.1%18.9%
Expected Move4.5%3.8%5.9%4.0%5.4%
HV 20d15.2%14.1%16.7%15.8%15.8%
HV 60d15.6%15.1%16.3%15.6%15.9%
IV Rank20.1%6.0%45.1%15.8%38.0%
IV Percentile23.9%4.0%68.3%14.3%55.6%
Term Structure0.2%-0.3%0.7%0.5%0.7%
VWIV16.0%13.2%20.4%13.9%18.6%
Skew 25d1.1%0.5%2.6%0.6%2.1%
Skew 10d2.3%0.5%4.6%0.6%4.2%
Call IV 25d15.5%13.2%18.9%15.0%18.0%
Put IV 25d16.6%14.1%21.5%15.6%20.0%
Bid-Ask Spread %11.682.2819.102.329.37
Gamma HHI0.100.040.450.160.04
Net GEX-60.9M-610.2M81.9M-101.1M81.9M
Net DEX1.75B917.4M2.92B1.11B2.26B
Net VEX-20.0M-24.1M-17.3M-24.1M-22.6M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.960.412.161.110.42
Total Volume239,891.25117,923403,931281,193354,644
Total OI3,984,772.353,478,7134,306,9374,161,7594,278,581

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2023-09-01$94.94$96.0015.1%4.0%15.8%15.8%13.9%0.6%0.5%-101.1M1.11B-24.1M1.112.32N/AN/A133,271147,9223,149,2531,012,506
2023-09-05$93.68$98.0015.8%4.5%16.1%20.1%16.4%0.9%0.1%-7.5M1.68B-21.5M1.6318.28N/AN/A87,540142,8413,157,565909,456
2023-09-06$93.75$98.0015.7%4.5%15.4%19.5%15.9%0.7%0.0%-15.2M1.57B-21.8M1.9813.82N/AN/A96,501191,1733,188,903951,404
2023-09-07$93.95$98.0015.5%4.5%15.3%17.9%14.4%0.5%0.1%-2.5M1.42B-21.6M1.192.28N/AN/A58,78669,9343,224,970980,226
2023-09-08$94.40$98.0015.0%4.4%14.7%15.6%15.8%0.5%0.0%79.7M917.4M-21.4M0.8710.73N/AN/A85,12274,2203,262,477986,730
2023-09-11$93.70$97.0015.3%4.3%14.8%16.8%15.2%0.9%-0.2%-47.4M1.66B-20.2M1.0718.72N/AN/A69,48474,4233,237,993967,142
2023-09-12$94.19$97.0014.7%4.2%15.0%13.5%15.0%1.0%-0.1%14.3M1.10B-20.2M0.9718.87N/AN/A67,85665,9263,260,293969,004
2023-09-13$94.25$97.0014.3%4.0%14.8%11.0%14.5%0.6%-0.1%65.4M1.02B-19.8M2.1619.10N/AN/A84,863183,4133,283,917977,808
2023-09-14$93.57$97.0013.5%3.8%14.8%6.6%13.2%0.9%-0.3%-153.8M1.83B-18.4M1.1711.32N/AN/A83,75797,7413,295,574966,063
2023-09-15$93.06$96.0013.4%3.8%14.8%6.0%13.5%0.8%-0.1%-610.2M2.11B-17.9M0.9516.98N/AN/A76,78072,5673,344,401962,536
2023-09-18$93.50$96.0013.4%3.8%14.8%6.0%13.9%0.8%0.1%-24.2M955.0M-18.5M0.496.95N/AN/A104,41551,1972,761,700717,013
2023-09-19$92.90$95.0014.0%4.0%14.2%9.7%14.7%0.8%0.1%-44.7M1.23B-18.7M0.6713.86N/AN/A112,08475,5982,793,142732,973
2023-09-20$93.31$95.0013.4%3.9%14.1%6.3%14.0%0.8%0.3%-2.3M921.7M-18.8M0.5414.29N/AN/A76,39241,5312,810,130740,439
2023-09-21$90.84$95.0016.3%4.7%14.4%22.7%16.5%1.7%0.1%-153.5M2.52B-17.3M0.8311.38N/AN/A205,662171,5012,832,943746,022
2023-09-22$91.41$95.0015.2%4.4%14.7%16.2%15.5%1.3%-0.1%-103.3M1.84B-18.5M0.687.07N/AN/A129,65788,2412,921,372789,061
2023-09-25$89.18$95.0019.2%5.6%16.7%39.6%19.4%1.5%0.4%-74.9M2.72B-18.0M0.9312.56N/AN/A194,830180,8102,892,938753,157
2023-09-26$88.88$94.0019.0%5.4%16.6%38.0%19.3%1.8%0.7%-62.6M2.71B-19.0M0.496.29N/AN/A172,30383,9052,980,230819,650
2023-09-27$88.22$94.0020.2%5.9%15.9%45.1%20.4%2.6%0.4%-54.6M2.92B-19.5M0.626.53N/AN/A248,999154,9323,060,502845,590
2023-09-28$88.55$93.0018.7%5.3%16.1%36.7%19.0%2.0%0.5%-2.0M2.48B-21.5M0.4112.94N/AN/A273,534113,4703,217,217914,566
2023-09-29$88.59$93.0018.9%5.4%15.8%38.0%18.6%2.1%0.7%81.9M2.26B-22.6M0.429.37N/AN/A250,278104,3663,327,669950,912