TLT Options History — February 2024

In February 2024, TLT traded between $92.23 and $98.05. ATM implied volatility averaged 14.7%, placing in the 17.7% IV rank vs the trailing year. The 30-day expected move averaged 4.2%. IV traded below realized volatility by 2.0% (HV 20d: 16.7%). Max pain ranged from $93.00 to $95.00. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 13 of 20 days. Put/call ratio averaged 0.74.

Notable Days

  • 2024-02-01: Highest Volume — 725,733 contracts
  • 2024-02-16: Largest IV drop — 5.1% change
  • 2024-02-01: Highest IV Rank — 27.9%
  • 2024-02-01: Largest Expected Move — 4.6%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$93.82$92.23$98.05$98.05$94.03
Max Pain$93.65$93.00$95.00$94.00$93.00
ATM IV14.7%13.8%16.1%16.1%14.0%
Expected Move4.2%3.9%4.6%4.6%4.0%
HV 20d16.7%14.6%17.3%14.6%16.7%
HV 60d17.0%15.8%18.1%17.2%15.8%
IV Rank17.7%10.7%27.9%27.9%12.1%
IV Percentile18.3%9.1%34.5%34.5%11.1%
Term Structure0.1%-0.2%0.4%-0.0%-0.1%
VWIV14.9%14.1%16.7%16.7%14.3%
Skew 25d0.7%-0.4%1.3%-0.4%0.2%
Skew 10d1.0%-1.8%2.5%-1.8%0.4%
Call IV 25d14.5%13.2%16.7%16.7%13.9%
Put IV 25d15.1%14.1%16.3%16.3%14.1%
Bid-Ask Spread %1.931.503.003.001.84
Gamma HHI0.060.050.080.070.07
Net GEX243.4M43.6M465.2M465.2M406.7M
Net DEX-1.65B-6.55B494.8M-6.55B-2.11B
Net VEX-38.2M-40.6M-36.5M-38.2M-38.9M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.740.352.140.350.47
Total Volume287,162.85144,297725,733725,733354,220
Total OI3,457,744.63,152,1863,789,6933,214,0843,486,499

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2024-02-01$98.05$94.0016.1%4.6%14.6%27.9%16.7%-0.4%-0.0%465.2M-6.55B-38.2M0.353.00N/AN/A538,367187,3662,028,7071,185,377
2024-02-02$96.13$94.0015.5%4.5%15.4%23.0%15.9%0.4%-0.0%358.1M-3.73B-40.6M0.682.11N/AN/A206,827140,8122,215,5011,265,466
2024-02-05$94.13$94.0015.7%4.5%16.7%24.4%16.1%0.6%0.2%179.1M-1.35B-39.2M0.811.98N/AN/A226,493183,4572,200,7491,216,333
2024-02-06$95.09$95.0015.6%4.5%17.0%23.6%15.8%0.2%0.1%302.5M-3.22B-39.8M0.742.52N/AN/A123,98892,2392,252,3891,186,956
2024-02-07$94.66$95.0015.0%4.3%17.1%19.9%15.2%0.0%0.1%263.3M-2.63B-39.3M0.791.95N/AN/A101,58679,8102,285,7941,212,893
2024-02-08$93.98$94.0014.7%4.3%17.1%17.6%14.9%0.6%0.1%107.2M-1.49B-38.0M0.561.67N/AN/A199,544111,3802,289,7301,211,017
2024-02-09$93.84$94.0014.4%4.2%16.9%15.5%14.8%0.3%0.4%78.6M-1.30B-38.0M0.641.87N/AN/A138,17987,8552,336,3231,237,535
2024-02-12$93.98$94.0014.8%4.2%17.0%18.0%14.9%0.1%0.3%200.5M-1.86B-37.9M0.541.80N/AN/A222,568120,3622,300,0081,184,393
2024-02-13$92.43$94.0015.3%4.4%16.9%22.0%15.3%0.9%0.3%43.6M494.8M-37.2M1.091.50N/AN/A191,922208,9212,429,1921,256,137
2024-02-14$92.84$94.0014.7%4.2%17.0%17.7%14.8%0.9%0.3%112.4M-650.1M-38.8M2.141.60N/AN/A121,923260,8862,476,1891,245,324
2024-02-15$93.28$94.0014.8%4.2%16.8%18.3%15.0%1.3%0.2%202.5M-1.34B-39.5M0.701.85N/AN/A131,46991,4942,485,9281,252,770
2024-02-16$92.73$93.0014.1%4.0%16.9%12.7%14.2%1.2%0.4%210.6M-314.5M-37.5M0.731.62N/AN/A120,14387,5232,525,5931,264,100
2024-02-20$92.82$93.0014.5%4.1%16.6%16.0%14.4%1.2%0.0%304.3M-1.01B-37.5M0.451.93N/AN/A129,96958,1572,107,7701,044,416
2024-02-21$92.23$93.0014.8%4.3%16.5%18.3%14.8%1.0%-0.2%269.6M-129.1M-36.5M0.511.82N/AN/A163,12283,9342,147,2361,075,403
2024-02-22$92.38$93.0014.4%4.1%16.4%15.4%14.2%1.3%0.1%344.7M-244.5M-36.6M0.801.78N/AN/A80,29963,9982,169,8101,088,927
2024-02-23$93.88$93.0013.8%3.9%17.3%10.7%14.1%1.2%-0.0%389.8M-2.47B-38.3M0.561.84N/AN/A181,563101,5612,191,7881,117,943
2024-02-26$93.55$93.0013.9%4.0%17.3%11.4%14.2%1.0%0.2%225.9M-1.36B-37.6M0.751.86N/AN/A101,52176,4932,162,6091,138,721
2024-02-27$92.95$93.0014.2%4.2%16.9%14.0%14.4%0.7%-0.0%155.3M-388.7M-36.9M0.442.03N/AN/A130,90657,4302,206,4591,180,982
2024-02-28$93.48$93.0014.3%4.1%16.8%14.4%14.6%0.6%-0.1%249.0M-1.35B-38.6M0.992.00N/AN/A93,11291,8582,286,1081,205,817
2024-02-29$94.03$93.0014.0%4.0%16.7%12.1%14.3%0.2%-0.1%406.7M-2.11B-38.9M0.471.84N/AN/A240,963113,2572,292,2451,194,254