TLT Options History — March 2024

In March 2024, TLT traded between $92.66 and $95.90. ATM implied volatility averaged 13.3%, placing in the 7.7% IV rank vs the trailing year. The 30-day expected move averaged 3.8%. IV traded above realized volatility by 1.7% (HV 20d: 11.6%). Max pain ranged from $93.00 to $94.00. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 11 of 20 days. Put/call ratio averaged 1.02.

Notable Days

  • 2024-03-13: Highest Volume — 418,932 contracts
  • 2024-03-12: Largest IV drop — 6.1% change
  • 2024-03-11: Highest IV Rank — 14.1%
  • 2024-03-05: Largest Expected Move — 4.1%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$94.22$92.66$95.90$94.41$94.66
Max Pain$93.55$93.00$94.00$94.00$93.00
ATM IV13.3%12.0%14.3%13.7%12.4%
Expected Move3.8%3.4%4.1%4.0%3.5%
HV 20d11.6%10.3%15.2%15.2%10.3%
HV 60d14.3%13.4%15.8%15.8%13.4%
IV Rank7.7%0.0%14.1%10.1%2.9%
IV Percentile6.6%0.0%16.7%7.5%1.2%
Term Structure0.1%-0.2%0.6%-0.1%0.6%
VWIV13.5%12.2%14.5%14.0%12.5%
Skew 25d0.4%0.1%0.8%0.6%0.3%
Skew 10d0.5%-0.0%1.2%0.4%0.5%
Call IV 25d13.1%11.8%14.2%13.4%12.1%
Put IV 25d13.6%12.2%14.6%14.0%12.4%
Bid-Ask Spread %1.531.181.911.881.23
Gamma HHI0.090.060.200.200.07
Net GEX271.1M21.7M806.0M806.0M298.8M
Net DEX-2.20B-5.17B254.7M-2.70B-2.55B
Net VEX-39.9M-42.0M-38.3M-40.7M-39.6M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.020.571.970.821.01
Total Volume268,823.9128,031418,932359,650293,268
Total OI3,447,080.652,989,8653,793,9603,529,6933,320,455

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2024-03-01$94.41$94.0013.7%4.0%15.2%10.1%14.0%0.6%-0.1%806.0M-2.70B-40.7M0.821.88N/AN/A198,032161,6182,302,3681,227,325
2024-03-04$94.13$94.0014.0%4.0%13.6%12.4%14.4%0.5%0.1%312.2M-2.50B-40.6M1.211.65N/AN/A72,73287,8352,298,7371,205,848
2024-03-05$95.41$94.0014.2%4.1%12.4%13.7%14.4%0.5%0.1%464.9M-4.67B-41.5M0.801.81N/AN/A171,551136,4852,326,6081,244,493
2024-03-06$95.90$94.0014.1%4.0%12.0%12.6%14.5%0.5%0.0%573.4M-5.17B-41.6M0.601.71N/AN/A233,076139,8632,358,9931,293,288
2024-03-07$95.84$94.0014.2%4.1%11.9%14.0%14.4%0.4%0.0%422.3M-4.70B-42.0M0.881.65N/AN/A123,471108,5932,330,3901,316,787
2024-03-08$95.69$94.0013.6%3.9%11.5%9.1%13.7%0.3%0.1%281.1M-4.29B-41.5M0.571.91N/AN/A159,85290,6062,355,4371,377,299
2024-03-11$95.72$94.0014.3%4.0%11.5%14.1%14.3%0.3%-0.2%333.0M-4.18B-41.2M1.001.69N/AN/A84,31984,1242,312,1091,347,483
2024-03-12$94.87$94.0013.4%3.8%12.0%7.7%13.4%0.3%-0.1%178.0M-2.59B-39.8M0.961.49N/AN/A127,266122,2352,344,1871,373,099
2024-03-13$94.38$94.0013.4%3.8%10.4%7.4%13.3%0.5%-0.1%173.8M-2.11B-39.1M1.471.34N/AN/A169,678249,2542,357,2711,358,217
2024-03-14$92.95$94.0013.7%3.9%11.8%10.7%13.9%0.5%-0.1%21.7M254.7M-38.7M1.101.18N/AN/A181,561199,1112,372,1041,357,800
2024-03-15$93.03$94.0013.4%3.8%11.7%8.5%13.4%0.3%-0.2%195.3M-249.6M-38.8M0.701.19N/AN/A155,267108,8772,421,2551,372,705
2024-03-18$92.66$93.0013.9%3.9%11.6%12.2%13.8%0.7%-0.1%49.9M-278.3M-38.3M1.411.55N/AN/A96,790136,0281,937,3281,052,537
2024-03-19$93.00$93.0013.4%3.8%11.7%8.7%13.6%0.6%-0.1%101.0M-583.7M-38.5M1.081.91N/AN/A96,593104,4131,979,6931,096,480
2024-03-20$92.97$93.0012.8%3.7%11.4%3.6%12.8%0.8%-0.1%79.7M-379.7M-38.3M1.451.52N/AN/A162,142235,1622,014,1191,130,485
2024-03-21$93.05$93.0012.6%3.6%11.4%1.9%12.5%0.5%0.0%69.2M-451.8M-38.9M0.981.42N/AN/A111,903109,7582,036,8051,187,883
2024-03-22$93.93$93.0012.5%3.6%10.4%1.0%12.6%0.1%0.1%495.9M-1.80B-40.2M0.661.42N/AN/A150,977100,2962,061,6541,226,763
2024-03-25$93.43$93.0012.7%3.6%10.5%2.9%12.8%0.1%0.5%131.1M-984.2M-39.4M1.041.28N/AN/A62,61365,4182,005,0031,146,921
2024-03-26$93.85$93.0012.4%3.5%10.3%0.5%13.0%0.5%0.6%168.0M-1.48B-39.3M1.971.39N/AN/A83,862165,0172,027,1481,175,467
2024-03-27$94.56$93.0012.0%3.4%10.5%0.0%12.2%0.3%0.6%266.3M-2.49B-39.3M0.621.39N/AN/A145,91490,9182,052,3901,236,679
2024-03-28$94.66$93.0012.4%3.5%10.3%2.9%12.5%0.3%0.6%298.8M-2.55B-39.6M1.011.23N/AN/A145,687147,5812,083,2311,237,224