SPXS Options History — May 2023

In May 2023, SPXS traded between $165.90 and $184.80. ATM implied volatility averaged 45.9%, placing in the 10.2% IV rank vs the trailing year. The 30-day expected move averaged 13.1%. IV traded above realized volatility by 4.0% (HV 20d: 41.9%). Max pain ranged from $170.00 to $180.00. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 10 of 22 days. Put/call ratio averaged 0.16.

Notable Days

  • 2023-05-04: Highest Volume — 4,073 contracts
  • 2023-05-03: Largest IV spike — 55.1% change
  • 2023-05-03: Highest IV Rank — 45.5%
  • 2023-05-04: Largest Expected Move — 15.3%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$173.12$165.90$184.80$170.20$167.70
Max Pain$171.36$170.00$180.00$180.00$170.00
ATM IV45.9%40.2%69.8%40.2%44.6%
Expected Move13.1%11.6%15.3%11.6%12.8%
HV 20d41.9%36.5%44.9%36.5%37.4%
HV 60d45.1%43.5%46.4%45.2%44.1%
IV Rank10.2%0.9%45.5%0.9%8.6%
IV Percentile7.5%0.4%57.5%0.4%6.7%
Term Structure0.3%-6.4%7.0%1.0%-0.8%
VWIV50.3%38.3%59.5%53.8%49.9%
Skew 25d-21.3%-34.6%-16.9%-17.4%-18.3%
Skew 10d-34.3%-49.6%-10.6%-32.1%-14.5%
Call IV 25d59.0%51.9%78.8%52.9%54.1%
Put IV 25d37.7%34.9%55.7%35.5%35.8%
Bid-Ask Spread %10.592.2328.433.486.45
Gamma HHI0.220.170.290.190.25
Net GEX3.8M2.7M5.1M3.3M4.1M
Net DEX-58.2M-102.8M-34.5M-36.1M-60.0M
Net VEX-346.3K-394.9K-320.1K-335.2K-339.8K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.160.060.310.090.11
Total Volume2,192.7739414,0732,0001,896
Total OI19,736.18217,59222,43118,99118,920

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2023-05-01$170.20$180.0040.2%11.6%36.5%0.9%53.8%-17.4%1.0%3.3M-36.1M-335.2K0.093.48N/AN/A1,84016014,9943,997
2023-05-02$177.00$180.0045.0%13.1%38.5%8.2%56.7%-20.5%0.9%4.4M-66.0M-366.6K0.073.92N/AN/A3,60426616,1204,088
2023-05-03$179.80$180.0069.8%14.5%37.9%45.5%50.2%-21.4%-6.4%4.3M-75.2M-387.3K0.2125.08N/AN/A1,71535615,8134,143
2023-05-04$184.80$170.0054.0%15.3%39.1%21.7%59.5%-34.6%0.4%5.1M-102.8M-394.9K0.204.60N/AN/A3,39867516,3704,220
2023-05-05$174.10$170.0044.3%12.8%44.7%7.1%50.7%-20.0%0.8%3.9M-46.0M-348.9K0.2117.08N/AN/A2,31249415,7604,454
2023-05-08$173.90$170.0043.8%12.6%44.7%6.3%55.0%-20.9%0.0%3.8M-49.8M-352.4K0.063.28N/AN/A1,95812615,5834,172
2023-05-09$176.20$170.0044.7%14.5%44.9%7.7%51.4%-21.5%5.4%4.3M-61.6M-337.8K0.103.88N/AN/A1,23911815,7074,204
2023-05-10$173.60$170.0043.4%12.3%44.9%5.7%50.9%-19.8%-0.4%3.9M-45.6M-330.9K0.2313.89N/AN/A1,98445715,7804,223
2023-05-11$175.70$170.0043.0%13.8%42.6%5.4%50.8%-19.8%6.5%3.9M-53.3M-343.2K0.202.84N/AN/A1,18224016,4344,259
2023-05-12$176.90$170.0042.7%13.5%42.5%5.4%49.8%-19.4%7.0%3.7M-60.2M-337.5K0.226.83N/AN/A2,50356016,6284,309
2023-05-15$175.10$170.0045.8%13.6%42.7%10.8%51.4%-21.4%-1.5%3.7M-53.5M-346.2K0.142.85N/AN/A1,08015115,6924,022
2023-05-16$177.00$170.0046.8%13.6%42.7%12.5%46.8%-23.9%-1.5%4.4M-65.2M-359.7K0.0924.35N/AN/A1,32111916,1444,002
2023-05-17$171.80$170.0040.9%11.7%44.1%2.3%48.1%-19.3%1.7%3.4M-46.2M-333.1K0.313.81N/AN/A1,78755516,3324,045
2023-05-18$167.00$170.0041.8%12.1%44.2%3.9%43.8%-16.9%-3.5%2.9M-34.5M-320.1K0.1628.43N/AN/A2,73644817,3254,128
2023-05-19$167.70$170.0043.5%12.4%44.3%6.8%38.3%-18.1%1.3%3.0M-42.1M-332.9K0.192.23N/AN/A2,72251918,2184,213
2023-05-22$167.40$170.0042.2%11.8%44.2%4.5%45.2%-21.4%-0.8%3.2M-51.6M-331.1K0.0719.70N/AN/A1,41210513,9263,666
2023-05-23$172.30$170.0045.6%12.9%42.6%10.5%51.1%-23.1%-0.5%4.0M-74.0M-355.9K0.142.97N/AN/A1,59522714,7333,703
2023-05-24$176.80$170.0051.6%14.5%43.2%20.7%56.4%-24.1%-1.2%3.8M-88.4M-361.1K0.285.78N/AN/A1,44040814,4163,770
2023-05-25$171.60$170.0047.2%13.5%38.9%13.2%49.7%-24.6%-1.6%3.4M-67.3M-348.6K0.173.36N/AN/A80713414,7373,841
2023-05-26$165.90$170.0044.9%12.6%40.1%9.1%49.7%-22.0%-0.2%2.7M-47.4M-326.0K0.2122.11N/AN/A1,53932615,0613,840
2023-05-30$166.10$170.0043.4%12.5%40.1%6.6%46.8%-20.3%-0.7%3.5M-52.8M-330.4K0.1026.11N/AN/A1,57415314,6653,539
2023-05-31$167.70$170.0044.6%12.8%37.4%8.6%49.9%-18.3%-0.8%4.1M-60.0M-339.8K0.116.45N/AN/A1,71318315,2693,651