AInvestOption Pilot Program
Options/TLT
T

TLTiShares 20+ Year Treasury Bond ETF

Options Analysis Report
AUM $47.5B|NASDAQ
● 2026-08-28$83.13
BULLISH
Analysis: 2026-08-27 EOD data
1Y -4.7%YTD -4.5%7D +1.3%
536,387
30D
±3.2%
12%

TLT Options Overview

IV is low with bullish flow and unusual activity. Conditions favor option buyers.

REWARDS

RISK ANALYSIS

7.1VALUESENTIMENTACTIVITYLIQUIDITYTIMING

Snowflake Analysis

Favorable conditions for option buyers

Learn
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TLT Gamma Walls

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Value

Is IV priced right?

8.6
ExpensiveCheap

Measures whether options are cheap, fair, or rich relative to historical and peer

levels.

Risk Checks7/9 checks passed
≤35%

IV Rank 3.7% — cheap vs history

<1.05x

IV/HV 1.07x — IV premium over HV

Sector Relative≤50%

Sector percentile 6% — below sector median

<1.1x

Front/Back 1.05x — backwardation

<1.25x

Put/Call IV 1.16x — elevated

<80%

ATM IV 11.7% — normal range

<80%

Effective IV 16.7% (ATM 11.7% + spread 2.5% + bias) — excellent value

<3.0%

Total drag 5.77% (spread 2.50% + slippage 3.27%) — high friction

≥5.0

Vega efficiency 21.01 (vega 5.254 / spread 2.50%) — efficient

Sentiment

Bullish or bearish?

7.2
BearishBullish

Analyzes

,
, and flow direction to determine market bias.

Risk ChecksBullish - Strong signal (Conviction: +20%, Raw: +16%)
|net sentiment| ≥25%

Conviction-weighted: +20% (bullish) — Raw: +16%

≥15%

|OI skew| 22.5% — call-heavy

Same sign, |vol skew| ≥10%

Vol skew +41.7%, OI skew +22.5% — aligned

≥2/3 conditions

0-DTE 12%, far-OTM 15%, avg DTE 30

|change| ≥3%

OI change +0.0% (5d) — stable

|weighted flow| ≥20%

ITM: +22%, ATM: -6%, OTM: +31% — bullish (ITM/ATM divergent)

Sector Relative≤40% or ≥60%

Sector P/C percentile 19% — very bullish vs sector

Activity

Unusual activity?

4.4
QuietActive

Detects volume surges,

, and unusual options activity that may signal moves.

Risk Checks3/8 checks passed
≥1.5x

Volume 0.8x avg — normal

≥15%

Vol/OI 4.5% — normal turnover

≥2 days

1 day(s) elevated — may be one-day event

≥5%

OI change -2.8% (5d) — unwinding

Sector Relative≥60%

Sector activity percentile 64% — active vs sector

≥30%

Large trade volume 62% — heavy institutional

≥60%

Aggressive execution 72% — urgent

≥30

Conviction +20 (bullish) — mixed

Liquidity

Can I trade efficiently?

8.0
IlliquidLiquid

Evaluates

, volume depth, and open interest for trade execution quality.

Risk Checks6/8 checks passed
≤5.0%

Spread 2.5% — acceptable

≥10,000

OI 12,060,759 — deep

≥500

Volume 536,387/day — active

≤$0.50

$0.12 to cross — cheap

≥5 strikes

2 liquid strikes — limited options

Sector Relative≤40%

Sector spread percentile 29% — tighter than sector

≥100 contracts

Depth 1,287.5 contracts (bid:660.5 ask:627.0) — deep

<1.0%

Avg slippage 3.27% — poor

Timing

Is now a good time?

7.3
RiskyFavorable

Considers earnings proximity,

, and event calendar for optimal entry timing.

Risk Checks7/9 checks passed
|slope| ≥5%

Slope +5.0% — backwardation

<30 or >70

IV percentile 4% — buyer opportunity

≥10pts kink

IV kink 1.0pts — no clear event

<0.5 or >2.0

θ/ν ratio 505.15 — favors income trades

≥3 expirations

5 liquid expirations — flexible

≥60% (safe)

safe window: No earnings detected

<1.2 ratio

Spread ratio 1.00x — stable

≥25% strength + ≥50% consistency

Flow +20% @ 60% consistency — unclear

≥40 composite score

Score 92 (ITM 20% + inst 62%) — HIGH institutional

Directional Strategy Fit

Option Buyers
Long Calls7.8
bullishIV cheap, bullish flow
Long Puts6.3
bearishIV cheap, bullish flow
Premium Sellers
Cash-Secured Put5.6
bullishIV too cheap, bullish flow
Covered Call4.1
bearishIV too cheap, bullish flow

For educational purposes only. Not investment advice.