TLT Options History — December 2023

In December 2023, TLT traded between $92.57 and $100.31. ATM implied volatility averaged 16.5%, placing in the 30.9% IV rank vs the trailing year. The 30-day expected move averaged 4.7%. IV traded below realized volatility by 2.4% (HV 20d: 18.9%). Max pain ranged from $88.00 to $94.00. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 13 of 20 days. Put/call ratio averaged 0.64.

Notable Days

  • 2023-12-06: Highest Volume — 1,090,615 contracts
  • 2023-12-14: Largest IV spike — 10.1% change
  • 2023-12-07: Highest IV Rank — 46.4%
  • 2023-12-01: Largest Expected Move — 5.3%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$97.09$92.57$100.31$93.00$99.06
Max Pain$91.80$88.00$94.00$90.00$94.00
ATM IV16.5%15.3%18.6%16.8%16.1%
Expected Move4.7%4.3%5.3%5.3%4.5%
HV 20d18.9%18.0%20.2%19.6%18.0%
HV 60d21.0%20.0%22.1%20.7%20.0%
IV Rank30.9%21.8%46.4%32.6%27.4%
IV Percentile33.2%18.7%58.3%35.3%27.4%
Term Structure0.1%-0.5%1.0%-0.3%0.8%
VWIV16.8%15.5%19.7%19.7%15.8%
Skew 25d-0.3%-1.2%1.1%0.3%-0.1%
Skew 10d-0.9%-2.5%0.5%0.5%-0.7%
Call IV 25d16.9%15.7%19.4%17.1%15.9%
Put IV 25d16.7%15.6%18.3%17.3%15.9%
Bid-Ask Spread %3.991.2127.941.411.44
Gamma HHI0.090.070.140.140.10
Net GEX521.0M374.4M656.7M630.9M374.4M
Net DEX-9.41B-12.18B-6.05B-6.97B-10.17B
Net VEX-38.3M-40.1M-36.6M-38.6M-38.3M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.640.331.000.330.70
Total Volume444,259.7160,3591,090,615711,404315,389
Total OI4,265,073.73,536,9944,773,2734,470,9394,135,742

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2023-12-01$93.00$90.0016.8%5.3%19.6%32.6%19.7%0.3%-0.3%630.9M-6.97B-38.6M0.331.41N/AN/A534,572176,8323,193,1011,277,838
2023-12-04$92.57$88.0016.7%4.8%19.7%32.4%17.0%-0.0%0.2%530.0M-6.05B-38.9M0.531.41N/AN/A146,08477,0403,239,1061,293,828
2023-12-05$94.44$88.0017.3%4.9%20.2%36.3%17.5%-0.5%0.2%652.2M-9.03B-39.0M0.531.54N/AN/A399,745212,7753,283,2451,326,513
2023-12-06$95.78$89.0018.6%5.1%20.2%46.1%18.0%-0.8%0.0%656.7M-10.74B-40.1M0.3527.94N/AN/A807,135283,4803,313,6981,378,595
2023-12-07$95.53$90.0018.6%5.2%19.8%46.4%18.4%-1.2%-0.1%549.4M-9.34B-39.9M0.721.62N/AN/A165,552118,6083,260,3921,480,704
2023-12-08$94.50$90.0017.1%4.9%18.2%35.0%17.3%-0.9%0.3%461.7M-7.51B-38.7M0.601.55N/AN/A230,405138,1543,260,4391,512,834
2023-12-11$94.18$90.0017.5%4.8%18.4%37.7%17.1%-1.2%-0.5%472.1M-6.88B-38.1M0.611.53N/AN/A178,173108,5643,187,7351,363,977
2023-12-12$94.62$90.0016.3%4.6%18.3%28.9%16.3%-0.9%-0.2%491.5M-7.51B-37.6M0.671.48N/AN/A121,45980,8693,227,0381,411,664
2023-12-13$96.73$90.0015.6%4.4%18.3%24.2%16.0%-0.6%-0.4%596.8M-10.70B-36.7M0.331.41N/AN/A727,452239,4123,243,9431,437,171
2023-12-14$98.98$92.0017.2%4.8%18.4%35.9%16.9%1.1%-0.5%583.0M-10.44B-36.6M0.381.31N/AN/A620,921237,5232,969,9921,457,050
2023-12-15$99.25$93.0016.6%4.7%18.3%31.5%17.0%-0.4%-0.4%656.7M-10.77B-37.1M0.591.21N/AN/A402,783239,2793,074,8691,537,710
2023-12-18$98.38$94.0016.3%4.6%19.0%29.0%17.0%-0.5%0.3%442.5M-8.97B-38.8M0.801.32N/AN/A134,633107,4422,282,7271,254,267
2023-12-19$98.73$94.0015.7%4.5%19.0%24.7%16.4%-0.4%0.1%475.6M-9.48B-38.5M0.981.24N/AN/A114,323111,8072,297,7291,291,569
2023-12-20$99.66$94.0016.2%4.7%18.9%28.7%17.1%-0.1%0.2%615.2M-10.78B-38.4M0.741.40N/AN/A214,723159,3222,352,0921,340,612
2023-12-21$98.97$94.0015.8%4.5%19.4%25.3%16.4%0.2%0.3%471.7M-9.78B-39.3M0.801.23N/AN/A207,333166,6632,378,4531,382,248
2023-12-22$98.52$94.0015.4%4.4%18.8%22.8%15.7%-0.0%0.3%404.1M-9.69B-39.2M0.6826.82N/AN/A185,006126,1392,460,6811,512,404
2023-12-26$98.72$94.0015.3%4.3%18.3%21.8%15.5%-0.1%1.0%415.9M-9.87B-38.0M1.001.33N/AN/A80,13780,2222,431,4431,449,678
2023-12-27$100.31$94.0015.9%4.5%18.8%25.9%16.0%0.2%0.9%475.3M-12.18B-37.1M0.841.40N/AN/A196,155164,0092,458,4531,492,915
2023-12-28$99.97$94.0015.8%4.4%18.7%25.7%15.7%0.2%0.8%464.1M-11.42B-37.7M0.711.32N/AN/A160,406114,6682,487,5811,561,438
2023-12-29$99.06$94.0016.1%4.5%18.0%27.4%15.8%-0.1%0.8%374.4M-10.17B-38.3M0.701.44N/AN/A185,173130,2162,514,3461,621,396