SPY Options History — June 2007

In June 2007, SPY traded between $148.29 and $154.10. ATM implied volatility averaged 13.7%. The 30-day expected move averaged 3.8%. IV traded above realized volatility by 1.4% (HV 20d: 12.4%). Max pain ranged from $147.00 to $153.00. Net GEX was positive for 0 of 21 trading days. Term structure was in contango for 18 of 21 days. Put/call ratio averaged 2.09.

Notable Days

  • 2007-06-14: Highest Volume — 2,045,679 contracts
  • 2007-06-07: Largest IV spike — 25.8% change
  • 2007-06-26: Largest Expected Move — 5.0%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$151.50$148.29$154.10$154.08$150.43
Max Pain$150.95$147.00$153.00$147.00$152.00
ATM IV13.7%11.2%17.4%11.2%14.7%
Expected Move3.8%3.2%5.0%3.2%4.2%
HV 20d12.4%8.2%14.9%8.2%14.8%
HV 60d10.0%9.3%10.9%9.4%10.7%
Term Structure0.5%-0.8%1.1%0.3%0.8%
VWIV13.8%11.4%16.9%11.4%14.9%
Skew 25d4.2%3.5%5.6%3.7%4.5%
Skew 10d8.6%6.7%10.7%7.3%8.8%
Call IV 25d11.4%9.8%14.6%9.8%12.1%
Put IV 25d15.7%13.3%20.2%13.4%16.6%
Bid-Ask Spread %10.365.6921.0513.968.34
Gamma HHI0.060.040.070.070.05
Net GEX-1.13B-1.72B-269.6M-414.7M-1.29B
Net DEX-2.58B-11.49B7.17B-11.26B1.42B
Net VEX-134.9M-202.4M-113.9M-114.1M-149.0M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio2.090.154.002.012.80
Total Volume587,035.333232,6472,045,679274,326446,862
Total OI6,966,770.1436,019,5027,836,5516,596,9456,824,714

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2007-06-01$154.08$147.0011.2%3.2%8.2%0.0%11.4%3.7%0.3%-414.7M-11.26B-114.1M2.0113.96N/AN/A91,217183,1092,048,7804,548,165
2007-06-04$154.10$148.0011.5%3.3%8.2%0.0%12.5%3.5%0.3%-465.3M-11.49B-113.9M3.4014.31N/AN/A65,401222,3002,054,8134,608,529
2007-06-05$153.49$148.0012.0%3.4%8.4%0.0%12.4%3.6%0.4%-664.3M-9.66B-115.9M1.6815.30N/AN/A129,033216,2772,065,7024,723,542
2007-06-06$151.84$148.0013.0%3.7%9.3%0.0%14.0%3.7%-0.0%-1.17B-4.81B-122.6M3.2220.21N/AN/A127,448409,9202,124,5314,732,726
2007-06-07$149.10$148.0016.4%4.4%11.4%0.0%15.7%4.8%-0.8%-1.71B3.14B-131.7M4.0020.45N/AN/A239,087955,1872,174,0274,861,652
2007-06-08$151.04$148.0013.1%3.7%11.7%0.0%13.7%3.8%0.2%-1.57B-2.18B-129.2M1.7821.05N/AN/A235,038417,4802,269,7205,137,536
2007-06-11$151.30$152.0014.6%3.8%11.3%0.0%13.4%4.5%0.3%-1.40B-3.78B-128.5M1.357.37N/AN/A185,760251,2452,344,5765,212,741
2007-06-12$149.65$152.0017.2%4.1%12.0%0.0%15.2%4.9%0.2%-1.72B1.92B-133.7M1.947.58N/AN/A216,986421,9812,377,6835,179,959
2007-06-13$151.89$152.0015.1%3.7%13.1%0.0%13.7%4.3%0.6%-1.11B-6.13B-128.6M1.447.78N/AN/A209,204300,8742,451,2995,326,217
2007-06-14$152.86$152.0012.1%3.5%13.1%0.0%12.7%4.2%0.8%-663.7M-9.48B-128.6M0.158.15N/AN/A1,776,212269,4672,472,6965,363,855
2007-06-15$153.07$152.0012.5%3.6%13.1%0.0%13.0%4.2%0.8%-269.6M-5.17B-125.4M1.417.78N/AN/A213,826301,3182,054,9595,407,946
2007-06-18$152.89$152.0012.1%3.5%12.7%0.0%13.1%3.9%1.0%-957.8M-2.99B-202.4M1.356.41N/AN/A146,477198,2072,101,9935,471,438
2007-06-19$153.27$153.0011.6%3.3%12.8%0.0%12.1%3.5%1.1%-722.1M-5.08B-126.5M1.166.78N/AN/A107,611125,0361,842,6344,176,868
2007-06-20$151.14$153.0013.5%3.9%13.7%0.0%13.2%4.3%0.7%-1.10B-361.3M-131.4M1.999.07N/AN/A156,959312,4161,865,0894,223,912
2007-06-21$151.98$153.0012.8%3.7%13.9%0.0%13.2%4.0%1.0%-964.6M-2.51B-132.9M1.948.86N/AN/A152,864296,2171,930,2324,314,674
2007-06-22$150.55$152.0014.1%4.0%13.9%0.0%14.7%4.4%0.6%-1.24B1.32B-140.3M3.218.42N/AN/A141,966455,7941,991,2234,398,210
2007-06-25$149.83$152.0015.1%4.3%13.9%0.0%15.2%4.6%0.4%-1.48B3.21B-142.9M2.487.03N/AN/A133,438330,6232,061,3904,570,250
2007-06-26$148.29$152.0017.4%5.0%14.2%0.0%16.9%5.6%-0.1%-1.64B7.17B-147.0M2.657.03N/AN/A135,142358,0322,116,4644,647,411
2007-06-27$150.40$152.0014.2%4.1%14.9%0.0%15.0%4.5%0.8%-1.49B1.16B-142.1M2.295.69N/AN/A272,639623,8372,191,2924,760,096
2007-06-28$150.38$152.0014.1%4.1%14.9%0.0%14.0%4.4%0.7%-1.58B1.44B-145.9M1.615.92N/AN/A189,528305,7242,301,2014,971,428
2007-06-29$150.43$152.0014.7%4.2%14.8%0.0%14.9%4.5%0.8%-1.29B1.42B-149.0M2.808.34N/AN/A117,573329,2892,213,1194,611,595