TLT Options History — December 2024

In December 2024, TLT traded between $87.14 and $94.32. ATM implied volatility averaged 13.5%, placing in the 27.4% IV rank vs the trailing year. The 30-day expected move averaged 4.0%. IV traded below realized volatility by 0.6% (HV 20d: 14.1%). Max pain ranged from $90.00 to $93.50. Net GEX was positive for 14 of 21 trading days. Term structure was in contango for 18 of 21 days. Put/call ratio averaged 0.80.

Notable Days

2024-12-19: Highest Volume — 1,252,679 contracts
2024-12-19: Largest IV spike — 10.9% change
2024-12-27: Highest IV Rank — 46.0%
2024-12-27: Largest Expected Move — 4.5%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$90.56	$87.14	$94.32	$93.88	$87.45
Max Pain	$91.88	$90.00	$93.50	$93.50	$90.00
ATM IV	13.5%	11.6%	15.2%	12.8%	14.8%
Expected Move	4.0%	3.7%	4.5%	4.2%	4.3%
HV 20d	14.1%	12.0%	17.2%	17.2%	12.0%
HV 60d	14.1%	13.7%	14.5%	13.7%	14.3%
IV Rank	27.4%	7.5%	46.0%	20.3%	41.7%
IV Percentile	31.2%	1.2%	75.8%	11.9%	68.7%
Term Structure	0.3%	-0.4%	0.9%	0.1%	0.5%
VWIV	14.2%	13.1%	15.3%	14.7%	14.9%
Skew 25d	0.4%	-0.3%	1.4%	0.3%	0.4%
Skew 10d	1.0%	-0.0%	3.7%	0.8%	1.1%
Call IV 25d	13.5%	11.4%	15.3%	12.9%	14.7%
Put IV 25d	13.9%	11.7%	15.8%	13.2%	15.1%
Bid-Ask Spread %	1.44	1.09	2.04	1.09	1.40
Gamma HHI	0.08	0.05	0.14	0.08	0.05
Net GEX	87.1M	-284.7M	481.1M	456.7M	123.2M
Net DEX	1.65B	-4.25B	7.48B	-3.60B	2.44B
Net VEX	-55.2M	-59.4M	-51.3M	-58.6M	-52.1M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.80	0.41	1.38	0.84	0.97
Total Volume	510,788.571	273,352	1,252,679	514,935	487,171
Total OI	5,862,203.81	5,079,539	6,534,135	5,609,520	5,272,308

Daily Data (21 trading days)

Date	Price	Max Pain	ATM IV	Exp Move	HV 20d	IV Rank	VWIV	Skew 25d	Term Str	GEX	DEX	VEX	P/C	Spread %	Call Wall	Put Wall	Call Vol	Put Vol	Call OI	Put OI
2024-12-02	$93.88	$93.50	12.8%	4.2%	17.2%	20.3%	14.7%	0.3%	0.1%	456.7M	-3.60B	-58.6M	0.84	1.09	N/A	N/A	280,234	234,701	3,098,440	2,511,080
2024-12-03	$93.06	$93.50	12.2%	4.1%	16.9%	14.3%	14.2%	-0.3%	0.6%	212.5M	-1.18B	-58.3M	0.75	1.10	N/A	N/A	205,625	153,299	3,140,333	2,606,132
2024-12-04	$94.05	$93.50	12.1%	3.9%	17.2%	12.5%	13.6%	0.1%	0.6%	481.1M	-3.72B	-58.5M	0.95	1.16	N/A	N/A	240,911	227,755	3,217,636	2,675,644
2024-12-05	$94.27	$92.00	12.4%	3.8%	13.9%	16.1%	13.7%	0.1%	0.4%	353.0M	-4.09B	-59.4M	1.38	1.42	N/A	N/A	189,398	261,884	3,229,816	2,734,497
2024-12-06	$94.32	$93.00	11.6%	3.7%	13.6%	7.5%	13.2%	0.3%	0.8%	303.2M	-4.25B	-58.7M	1.08	1.53	N/A	N/A	322,417	347,718	3,287,259	2,915,589
2024-12-09	$93.58	$93.00	12.3%	3.8%	13.5%	15.3%	13.1%	0.0%	0.5%	59.1M	-1.07B	-57.8M	1.35	1.49	N/A	N/A	200,303	270,613	3,201,379	2,814,018
2024-12-10	$93.22	$93.00	12.6%	3.8%	13.5%	18.6%	13.6%	0.1%	0.5%	-28.8M	-170.5M	-57.8M	0.89	1.58	N/A	N/A	202,011	178,983	3,210,558	2,838,523
2024-12-11	$92.18	$93.00	12.4%	3.8%	13.0%	15.6%	13.3%	0.0%	0.8%	-284.7M	2.80B	-56.0M	0.66	1.44	N/A	N/A	352,628	231,668	3,285,980	2,874,200
2024-12-12	$91.09	$93.00	13.0%	3.9%	13.3%	22.0%	13.8%	0.1%	0.9%	-147.8M	4.85B	-55.6M	0.73	1.52	N/A	N/A	397,068	288,027	3,337,180	2,854,970
2024-12-13	$90.18	$93.00	13.3%	3.9%	13.7%	25.2%	14.4%	0.3%	0.6%	-195.4M	6.58B	-55.2M	0.78	1.34	N/A	N/A	346,902	269,463	3,514,931	2,970,796
2024-12-16	$90.35	$93.00	13.4%	3.9%	13.7%	26.7%	13.9%	0.0%	0.2%	53.8M	5.38B	-55.1M	0.50	1.48	N/A	N/A	207,875	104,133	3,519,762	2,855,118
2024-12-17	$90.60	$93.00	13.4%	3.9%	13.7%	26.6%	13.9%	0.2%	0.4%	29.2M	4.47B	-56.1M	0.41	1.31	N/A	N/A	281,618	115,670	3,574,069	2,857,727
2024-12-18	$89.25	$93.00	13.2%	3.8%	14.6%	24.7%	13.2%	0.6%	0.0%	-123.8M	7.48B	-54.2M	0.41	2.04	N/A	N/A	524,423	213,886	3,643,098	2,891,037
2024-12-19	$88.00	$90.00	14.7%	4.2%	15.4%	40.0%	14.9%	1.4%	-0.3%	-247.0M	4.43B	-51.3M	1.12	1.34	N/A	N/A	590,596	662,083	3,652,691	2,293,995
2024-12-20	$88.37	$90.00	14.4%	4.2%	15.5%	37.3%	14.9%	1.4%	-0.4%	377.7M	2.32B	-53.1M	0.64	1.35	N/A	N/A	339,702	216,349	3,795,519	2,436,128
2024-12-23	$87.56	$90.00	14.7%	4.3%	15.7%	40.2%	15.0%	0.9%	0.0%	45.2M	2.95B	-51.8M	0.73	1.59	N/A	N/A	232,780	168,913	3,079,412	2,000,127
2024-12-24	$87.63	$90.00	14.8%	4.3%	12.4%	40.8%	15.1%	0.6%	0.1%	97.6M	2.47B	-52.7M	0.54	1.58	N/A	N/A	181,519	98,773	3,118,352	2,016,546
2024-12-26	$87.83	$90.00	15.0%	4.4%	12.6%	43.4%	14.9%	0.6%	0.1%	211.7M	1.79B	-52.8M	0.76	1.61	N/A	N/A	155,632	117,720	3,192,646	2,042,525
2024-12-27	$87.14	$90.00	15.2%	4.5%	12.4%	46.0%	15.3%	0.5%	-0.0%	-147.2M	3.10B	-51.9M	0.53	1.44	N/A	N/A	294,730	155,417	3,245,355	2,057,323
2024-12-30	$87.84	$90.00	14.6%	4.2%	12.0%	39.7%	14.7%	0.3%	0.5%	199.4M	1.57B	-52.7M	0.80	1.32	N/A	N/A	208,479	167,483	3,213,183	2,030,398
2024-12-31	$87.45	$90.00	14.8%	4.3%	12.0%	41.7%	14.9%	0.4%	0.5%	123.2M	2.44B	-52.1M	0.97	1.40	N/A	N/A	247,050	240,121	3,216,299	2,056,009