TLT Options History — November 2023

In November 2023, TLT traded between $85.02 and $92.66. ATM implied volatility averaged 18.2%, placing in the 43.1% IV rank vs the trailing year. The 30-day expected move averaged 5.4%. IV traded below realized volatility by 2.9% (HV 20d: 21.1%). Max pain ranged from $86.00 to $88.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 7 of 21 days. Put/call ratio averaged 0.58.

Notable Days

  • 2023-11-03: Highest Volume — 873,206 contracts
  • 2023-11-17: Largest IV drop — 5.1% change
  • 2023-11-01: Highest IV Rank — 60.2%
  • 2023-11-01: Largest Expected Move — 6.1%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$89.22$85.02$92.66$85.02$91.22
Max Pain$87.43$86.00$88.00$86.00$88.00
ATM IV18.2%16.3%20.5%20.5%16.6%
Expected Move5.4%4.8%6.1%6.1%5.1%
HV 20d21.1%18.2%23.4%21.9%20.0%
HV 60d19.8%18.4%20.5%18.4%20.3%
IV Rank43.1%28.8%60.2%60.2%31.6%
IV Percentile48.6%26.2%71.0%71.0%32.5%
Term Structure-0.0%-0.5%0.7%-0.3%0.1%
VWIV18.9%16.7%21.1%20.2%18.0%
Skew 25d0.6%-0.5%1.4%0.6%-0.5%
Skew 10d1.2%-1.2%3.1%0.6%-1.2%
Call IV 25d18.0%16.0%20.3%20.3%17.2%
Put IV 25d18.6%16.4%21.0%20.9%16.7%
Bid-Ask Spread %1.431.262.161.551.29
Gamma HHI0.120.070.350.070.08
Net GEX534.8M354.7M985.6M371.3M506.3M
Net DEX-4.51B-7.27B-761.7M-761.7M-4.79B
Net VEX-37.8M-41.0M-35.8M-36.2M-36.5M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.580.181.090.900.55
Total Volume344,356.619121,592873,206540,829377,436
Total OI4,970,081.814,238,7805,475,2105,130,0834,465,927

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2023-11-01$85.02$86.0020.5%6.1%21.9%60.2%20.2%0.6%-0.3%371.3M-761.7M-36.2M0.901.55N/AN/A285,104255,7253,878,4051,251,678
2023-11-02$86.97$87.0020.3%6.0%23.4%59.0%21.1%1.2%-0.2%569.4M-3.86B-38.8M0.371.58N/AN/A515,894193,0293,986,1541,249,596
2023-11-03$87.66$87.0019.6%5.8%23.2%53.4%20.8%0.6%-0.1%578.7M-4.67B-39.0M0.182.16N/AN/A737,633135,5734,026,8361,288,238
2023-11-06$86.90$87.0019.2%5.7%22.7%50.7%20.1%0.3%0.7%440.4M-2.81B-39.0M0.511.40N/AN/A172,49787,3304,075,9981,187,921
2023-11-07$88.06$87.0018.9%5.6%23.2%48.2%20.0%0.9%0.6%525.9M-4.41B-40.0M1.091.39N/AN/A162,227176,6984,129,4431,224,972
2023-11-08$89.50$87.0018.3%5.4%22.8%43.6%19.5%0.9%0.6%635.6M-6.52B-41.0M0.601.45N/AN/A281,944167,9994,154,4651,212,792
2023-11-09$87.53$88.0019.1%5.6%22.5%49.7%19.8%0.5%0.5%354.7M-2.98B-38.9M0.871.45N/AN/A217,530190,2834,094,9581,262,362
2023-11-10$88.03$87.0018.7%5.5%22.0%47.0%19.3%0.5%0.7%432.2M-3.77B-39.0M0.501.29N/AN/A132,84566,9454,159,0011,315,230
2023-11-13$87.84$87.0019.6%5.7%21.3%53.7%20.1%1.1%-0.3%397.8M-3.18B-37.6M0.841.27N/AN/A93,22178,1224,093,9471,227,477
2023-11-14$89.80$87.0019.4%5.6%22.1%52.3%19.8%1.4%-0.3%576.4M-6.07B-39.2M0.371.30N/AN/A382,408141,3524,120,3461,265,346
2023-11-15$88.65$87.0018.9%5.4%22.3%48.7%19.0%0.8%-0.2%411.4M-3.91B-37.9M0.341.30N/AN/A245,44983,4334,126,1191,321,895
2023-11-16$89.56$87.0018.6%5.4%20.9%46.1%18.7%0.8%-0.4%571.4M-5.39B-37.7M0.421.50N/AN/A161,85468,1594,125,5281,308,914
2023-11-17$89.94$88.0017.7%5.1%20.9%39.2%17.9%0.4%-0.2%985.6M-6.03B-37.5M0.711.26N/AN/A184,660130,9184,160,0061,315,204
2023-11-20$90.59$88.0017.3%5.0%20.7%36.2%18.0%0.5%-0.2%513.6M-4.79B-37.2M0.661.80N/AN/A120,98079,9533,161,4571,077,323
2023-11-21$90.44$88.0017.2%5.0%20.5%35.6%17.6%0.7%-0.3%524.4M-4.54B-37.0M0.471.52N/AN/A121,14756,3933,200,1931,100,689
2023-11-22$90.87$88.0016.5%4.8%18.2%30.9%16.7%0.7%-0.5%585.8M-4.99B-36.8M0.571.32N/AN/A114,45364,8443,219,1681,126,859
2023-11-24$89.82$88.0016.5%4.8%18.5%30.3%17.4%0.1%-0.3%423.2M-3.43B-35.8M0.411.42N/AN/A86,42435,1683,232,8221,162,583
2023-11-27$91.19$88.0016.3%5.0%18.8%28.8%17.6%0.4%0.1%550.3M-5.14B-35.8M0.761.28N/AN/A134,587102,4023,172,9671,093,004
2023-11-28$91.44$88.0016.4%5.0%18.6%30.0%17.8%0.1%-0.0%610.1M-5.47B-36.3M0.611.29N/AN/A116,58871,4263,216,6601,148,400
2023-11-29$92.66$88.0016.3%5.1%18.8%29.4%18.3%0.3%-0.0%667.0M-7.27B-36.9M0.461.31N/AN/A274,622126,2343,249,0121,181,823
2023-11-30$91.22$88.0016.6%5.1%20.0%31.6%18.0%-0.5%0.1%506.3M-4.79B-36.5M0.551.29N/AN/A244,286133,1503,243,0371,222,890