TLT Options History — June 2025

In June 2025, TLT traded between $85.00 and $88.34. ATM implied volatility averaged 15.0%, placing in the 25.8% IV rank vs the trailing year. The 30-day expected move averaged 4.3%. IV traded above realized volatility by 0.8% (HV 20d: 14.2%). Max pain ranged from $84.00 to $87.50. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 16 of 20 days. Put/call ratio averaged 0.80.

Notable Days

2025-06-02: Highest Volume — 616,780 contracts
2025-06-20: Largest IV drop — 4.4% change
2025-06-02: Highest IV Rank — 35.6%
2025-06-02: Largest Expected Move — 4.7%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$86.47	$85.00	$88.34	$85.00	$88.34
Max Pain	$85.03	$84.00	$87.50	$87.50	$85.00
ATM IV	15.0%	13.6%	16.2%	16.2%	14.0%
Expected Move	4.3%	3.9%	4.7%	4.7%	3.9%
HV 20d	14.2%	12.7%	15.7%	13.3%	13.2%
HV 60d	15.1%	14.8%	15.5%	14.8%	15.1%
IV Rank	25.8%	15.5%	35.6%	35.6%	18.5%
IV Percentile	53.3%	21.0%	79.4%	79.4%	28.6%
Term Structure	0.2%	-0.0%	0.6%	-0.0%	0.6%
VWIV	15.1%	13.5%	16.5%	16.0%	13.9%
Skew 25d	0.5%	-0.4%	1.4%	1.4%	0.1%
Skew 10d	1.3%	-0.4%	3.3%	3.3%	0.6%
Call IV 25d	14.8%	13.4%	16.1%	16.1%	14.0%
Put IV 25d	15.3%	13.6%	17.5%	17.5%	14.1%
Bid-Ask Spread %	1.34	1.02	1.54	1.40	1.39
Gamma HHI	0.08	0.05	0.16	0.05	0.16
Net GEX	572.3M	247.7M	900.3M	308.1M	802.1M
Net DEX	-1.47B	-4.07B	1.87B	1.87B	-4.07B
Net VEX	-55.8M	-59.9M	-52.6M	-56.1M	-53.6M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.80	0.27	1.52	0.98	0.27
Total Volume	438,620.7	242,265	616,780	616,780	580,692
Total OI	5,967,312.7	5,386,762	6,358,209	5,965,549	5,552,283

Daily Data (20 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
2025-06-02	$85.00	$87.50	16.2%	4.7%	13.3%	35.6%	16.0%	1.4%	-0.0%	308.1M	1.87B	-56.1M	0.98	1.40	N/A	N/A	312,111	304,669	3,788,893	2,176,656
2025-06-03	$85.02	$87.00	16.2%	4.6%	13.2%	35.5%	15.4%	1.4%	-0.0%	392.9M	602.8M	-56.4M	1.21	1.41	N/A	N/A	177,585	215,031	3,855,104	2,090,415
2025-06-04	$86.44	$86.00	16.0%	4.5%	14.6%	33.9%	15.5%	0.7%	0.0%	900.3M	-2.77B	-59.8M	0.68	1.10	N/A	N/A	357,228	241,223	3,918,204	2,135,968
2025-06-05	$86.40	$84.00	15.9%	4.6%	14.4%	33.0%	16.5%	1.0%	-0.0%	738.9M	-2.25B	-59.9M	1.52	1.34	N/A	N/A	145,043	221,011	3,901,446	2,157,976
2025-06-06	$85.34	$84.00	15.2%	4.5%	14.8%	28.0%	15.9%	1.1%	0.2%	247.7M	800.8M	-56.3M	0.65	1.38	N/A	N/A	365,598	238,408	3,934,686	2,212,212
2025-06-09	$85.44	$84.00	15.2%	4.5%	14.8%	27.9%	15.6%	1.0%	0.4%	417.0M	54.1M	-56.1M	1.20	1.29	N/A	N/A	135,519	163,203	3,915,067	2,186,193
2025-06-10	$85.81	$84.00	15.0%	4.4%	14.5%	26.6%	15.8%	1.0%	0.3%	510.7M	-876.1M	-57.5M	1.17	1.28	N/A	N/A	111,479	130,786	3,933,410	2,211,964
2025-06-11	$86.19	$84.00	14.5%	4.2%	14.5%	22.5%	15.0%	0.5%	0.2%	618.2M	-1.59B	-56.1M	0.99	1.02	N/A	N/A	224,007	222,426	3,970,355	2,276,133
2025-06-12	$87.18	$85.00	14.8%	4.3%	14.8%	24.9%	15.2%	0.4%	0.2%	784.9M	-3.86B	-58.1M	1.22	1.27	N/A	N/A	253,173	307,622	3,992,717	2,273,487
2025-06-13	$86.23	$85.00	15.5%	4.5%	15.1%	29.7%	15.8%	0.5%	0.3%	526.8M	-1.02B	-57.2M	0.74	1.35	N/A	N/A	260,212	191,978	4,005,430	2,329,499
2025-06-16	$85.56	$85.00	15.1%	4.3%	15.2%	27.2%	15.4%	0.7%	0.0%	248.0M	913.4M	-54.0M	0.61	1.21	N/A	N/A	292,828	179,022	3,936,363	2,273,415
2025-06-17	$86.52	$85.00	15.3%	4.4%	15.7%	28.7%	15.5%	0.2%	0.1%	633.0M	-1.86B	-56.0M	0.71	1.29	N/A	N/A	233,787	166,569	3,988,616	2,246,628
2025-06-18	$86.50	$85.00	15.1%	4.3%	15.5%	27.0%	15.1%	0.2%	0.0%	724.7M	-1.63B	-55.3M	0.72	1.45	N/A	N/A	351,267	251,646	4,041,149	2,291,613
2025-06-20	$86.51	$85.00	14.4%	4.1%	13.8%	21.9%	14.6%	-0.2%	0.1%	522.7M	-1.17B	-54.1M	0.50	1.41	N/A	N/A	319,297	158,611	4,050,287	2,307,922
2025-06-23	$86.84	$85.00	14.5%	4.2%	13.8%	22.2%	14.8%	-0.1%	0.1%	519.9M	-1.59B	-54.3M	0.71	1.46	N/A	N/A	193,334	137,970	3,408,767	1,977,995
2025-06-24	$87.43	$85.00	14.3%	4.1%	13.9%	20.9%	14.4%	-0.4%	0.0%	556.3M	-2.64B	-53.9M	0.48	1.43	N/A	N/A	211,286	101,762	3,431,486	1,991,625
2025-06-25	$87.47	$85.00	14.1%	4.0%	13.0%	19.3%	14.2%	-0.4%	0.1%	713.3M	-2.77B	-54.1M	0.43	1.39	N/A	N/A	193,318	83,980	3,492,709	2,010,533
2025-06-26	$87.75	$85.00	13.9%	3.9%	12.8%	17.8%	13.9%	-0.1%	0.2%	651.8M	-3.27B	-54.0M	0.61	1.45	N/A	N/A	189,757	115,459	3,494,858	2,009,273
2025-06-27	$87.38	$85.00	13.6%	3.9%	12.7%	15.5%	13.5%	0.1%	0.3%	628.2M	-2.35B	-52.6M	0.57	1.54	N/A	N/A	275,937	157,580	3,530,835	2,044,082
2025-06-30	$88.34	$85.00	14.0%	3.9%	13.2%	18.5%	13.9%	0.1%	0.6%	802.1M	-4.07B	-53.6M	0.27	1.39	N/A	N/A	455,660	125,032	3,499,342	2,052,941