SPY Options History — July 2007

In July 2007, SPY traded between $145.11 and $155.07. ATM implied volatility averaged 15.5%, placing in the 66.1% IV rank vs the trailing year. The 30-day expected move averaged 4.5%. IV traded above realized volatility by 1.8% (HV 20d: 13.8%). Max pain ranged from $152.00 to $154.00. Net GEX was positive for 0 of 21 trading days. Term structure was in contango for 15 of 21 days. Put/call ratio averaged 2.20.

Notable Days

  • 2007-07-26: Highest Volume — 1,619,736 contracts
  • 2007-07-10: Largest IV spike — 29.2% change
  • 2007-07-26: Highest IV Rank — 100.0%
  • 2007-07-27: Largest Expected Move — 6.6%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$151.91$145.11$155.07$151.79$145.72
Max Pain$152.76$152.00$154.00$152.00$152.00
ATM IV15.5%11.4%22.9%12.8%22.5%
Expected Move4.5%3.6%6.6%3.7%6.5%
HV 20d13.8%11.8%17.3%15.2%17.2%
HV 60d11.7%10.8%14.0%10.8%14.0%
IV Rank66.1%30.2%100.0%42.5%97.8%
IV Percentile87.6%52.0%100.0%73.0%99.3%
Term Structure0.1%-2.3%1.8%1.5%-1.7%
VWIV16.3%12.9%23.1%13.8%23.1%
Skew 25d5.3%4.0%7.8%4.0%7.8%
Skew 10d10.3%8.2%14.0%8.4%14.0%
Call IV 25d13.1%10.3%19.3%11.1%19.1%
Put IV 25d18.4%14.5%26.9%15.1%26.9%
Bid-Ask Spread %7.254.7911.145.749.58
Gamma HHI0.060.040.070.050.04
Net GEX-960.4M-1.58B-183.6M-1.07B-1.58B
Net DEX-1.34B-10.94B17.37B-2.58B17.37B
Net VEX-151.5M-179.5M-138.3M-143.4M-179.5M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio2.201.223.301.932.21
Total Volume626,253.095250,1581,619,736294,364979,971
Total OI7,588,571.816,617,8228,420,6156,985,2768,104,461

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2007-07-02$151.79$152.0012.8%3.7%15.2%0.0%13.8%4.0%1.5%-1.07B-2.58B-143.4M1.935.74N/AN/A100,400193,9642,254,3604,730,916
2007-07-03$152.34$152.0012.4%3.6%15.2%0.0%13.5%4.2%1.8%-943.6M-4.54B-159.6M3.154.79N/AN/A60,237189,9212,434,3995,020,247
2007-07-05$152.18$152.0012.7%3.6%14.7%42.5%12.9%4.1%1.8%-1.03B-3.42B-142.7M2.446.90N/AN/A106,193259,0082,304,4364,841,391
2007-07-06$152.98$152.0011.4%3.9%13.1%30.2%14.9%5.0%0.3%-693.1M-6.11B-140.4M2.676.45N/AN/A111,011296,5982,355,6574,945,742
2007-07-09$153.00$152.0012.2%4.0%12.4%37.7%14.5%5.0%0.1%-811.2M-5.60B-138.3M1.596.77N/AN/A100,265158,9682,358,8114,997,627
2007-07-10$150.92$152.0015.7%4.6%13.4%71.2%16.1%5.6%-0.4%-1.53B1.90B-148.9M3.305.17N/AN/A132,327437,2782,389,0405,026,328
2007-07-11$151.99$152.0014.3%4.3%12.9%58.1%14.8%5.5%0.1%-1.25B-1.49B-147.5M2.088.41N/AN/A161,704335,9452,423,0435,125,609
2007-07-12$154.39$152.0014.4%4.1%13.1%58.9%14.9%5.2%0.1%-406.1M-9.44B-143.1M1.766.45N/AN/A215,097377,7142,497,8385,269,189
2007-07-13$154.85$153.0013.9%4.0%12.9%53.8%15.2%4.8%0.5%-183.6M-10.94B-143.4M2.357.42N/AN/A135,847319,6442,558,9005,396,288
2007-07-16$154.83$153.0014.2%4.1%12.9%57.3%16.4%4.9%0.5%-359.7M-10.62B-142.6M2.097.08N/AN/A145,304303,1642,588,1325,507,998
2007-07-17$154.75$153.0014.1%4.0%12.9%55.5%15.6%5.0%0.6%-387.4M-10.26B-143.0M2.926.13N/AN/A86,794253,2452,596,4925,632,072
2007-07-18$154.47$153.0014.7%4.2%12.9%61.7%15.1%5.0%0.8%-737.1M-8.23B-143.8M1.568.06N/AN/A233,617365,0942,554,5065,654,379
2007-07-19$155.07$153.0013.9%4.0%11.8%53.6%14.2%4.6%0.7%-263.8M-10.56B-142.5M2.138.43N/AN/A165,593353,4412,602,2865,708,247
2007-07-20$153.50$154.0015.8%4.5%12.4%71.5%15.8%5.2%0.2%-828.2M-3.61B-151.0M1.225.91N/AN/A524,951638,9822,593,6815,826,934
2007-07-23$153.97$154.0015.0%4.3%11.8%64.8%15.4%5.2%0.4%-899.3M-3.65B-147.9M1.736.77N/AN/A116,660201,7552,058,5564,559,266
2007-07-24$151.30$154.0017.0%4.9%13.4%83.2%17.1%5.7%-0.0%-1.25B2.60B-155.4M2.507.59N/AN/A212,543531,2752,099,4204,626,577
2007-07-25$151.61$154.0016.3%4.7%12.8%76.5%16.7%5.2%0.1%-1.29B2.13B-158.1M1.797.36N/AN/A256,437459,8202,201,2114,821,479
2007-07-26$148.02$154.0019.4%5.6%14.6%100.0%19.4%6.2%-0.7%-1.56B11.08B-166.3M2.4411.14N/AN/A470,9251,148,8112,276,9254,929,844
2007-07-27$145.11$153.0022.9%6.6%16.1%100.0%22.0%7.3%-2.3%-1.52B15.82B-170.9M2.518.91N/AN/A308,095774,1142,483,1415,130,333
2007-07-30$147.38$152.0020.3%5.8%17.3%82.3%20.2%6.8%-1.7%-1.58B12.04B-173.0M1.847.12N/AN/A327,352601,2512,587,0245,287,223
2007-07-31$145.72$152.0022.5%6.5%17.2%97.8%23.1%7.8%-1.7%-1.58B17.37B-179.5M2.219.58N/AN/A304,840675,1312,680,3255,424,136