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< BACK TO ALL REPORTS

The seasonal opportunity in TLT remains in play

Jay Kaeppel
2025-08-01

On June 12th, I wrote a note about a potential seasonally bullish play in treasury bonds via ticker TLT. That note included an example option play using a bull call spread on TLT. The original screenshots from that position appear below.

Now fast forward to today. TLT has gained a small amount, and the option position is virtually unchanged due to time decay. There are now 49 days left until expiration. See screenshot below.

The annual seasonal chart for TLT suggests that if TLT is going to register a seasonal rally in 2025, it is "soon or never." This represents a potential opportunity for a trader willing to risk $211 on a speculative seasonal play.

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