SPY Options History — August 2007

In August 2007, SPY traded between $141.04 and $149.83. ATM implied volatility averaged 22.6%, placing in the 79.8% IV rank vs the trailing year. The 30-day expected move averaged 6.4%. IV traded above realized volatility by 0.4% (HV 20d: 22.3%). Max pain ranged from $146.00 to $152.00. Net GEX was positive for 0 of 23 trading days. Term structure was in contango for 7 of 23 days. Put/call ratio averaged 2.17.

Notable Days

  • 2007-08-16: Highest Volume — 2,078,523 contracts
  • 2007-08-09: Largest IV spike — 38.8% change
  • 2007-08-03: Highest IV Rank — 100.0%
  • 2007-08-15: Largest Expected Move — 7.9%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$145.65$141.04$149.83$146.47$147.59
Max Pain$148.87$146.00$152.00$152.00$146.00
ATM IV22.6%18.4%27.7%22.2%21.2%
Expected Move6.4%5.3%7.9%6.4%6.1%
HV 20d22.3%17.3%24.7%17.3%22.0%
HV 60d17.0%14.0%18.9%14.0%18.6%
IV Rank79.8%52.8%100.0%95.6%66.6%
IV Percentile95.3%86.4%100.0%98.6%91.0%
Term Structure-0.3%-1.3%0.3%-1.0%-0.4%
VWIV23.5%19.8%28.5%23.0%21.3%
Skew 25d9.3%6.4%11.5%7.8%8.7%
Skew 10d16.6%12.5%20.4%13.8%15.5%
Call IV 25d18.0%14.3%22.0%18.4%17.5%
Put IV 25d27.4%22.4%33.3%26.2%26.2%
Bid-Ask Spread %12.717.1844.3511.0813.61
Gamma HHI0.050.030.100.040.04
Net GEX-1.53B-2.31B-970.9M-1.57B-1.12B
Net DEX12.62B-278.3M30.50B14.68B1.86B
Net VEX-201.2M-213.4M-186.1M-186.1M-211.2M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio2.171.234.222.352.14
Total Volume883,982.522371,9192,078,5231,313,192378,029
Total OI9,685,883.6968,313,89011,038,8958,313,89010,375,169

Daily Data (23 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2007-08-01$146.47$152.0022.2%6.4%17.3%95.6%23.0%7.8%-1.0%-1.57B14.68B-186.1M2.3511.08N/AN/A391,734921,4582,780,0845,533,806
2007-08-02$147.60$151.0018.4%5.3%17.6%69.8%19.8%6.4%0.3%-1.60B11.42B-188.0M2.008.47N/AN/A247,273493,8442,883,3385,724,162
2007-08-03$143.80$151.0023.2%6.6%19.4%100.0%22.8%7.5%-0.9%-1.79B23.29B-190.8M1.989.63N/AN/A363,792721,1642,961,2355,925,006
2007-08-06$146.21$150.0020.6%5.9%20.6%82.7%21.8%8.7%0.1%-1.73B14.71B-191.7M1.8312.41N/AN/A318,641581,6203,110,7676,012,621
2007-08-07$147.77$150.0019.3%5.5%20.7%74.2%21.4%8.1%-0.3%-1.62B9.54B-193.9M1.8512.25N/AN/A288,606533,3653,206,1786,158,166
2007-08-08$149.83$150.0019.5%5.5%21.1%75.1%20.4%8.1%-0.2%-1.21B2.22B-195.5M2.0113.53N/AN/A266,280536,4013,270,3726,236,083
2007-08-09$145.39$150.0027.0%7.0%22.6%100.0%24.2%10.2%-0.7%-1.73B17.75B-204.1M2.9313.64N/AN/A240,283702,9103,330,6446,404,239
2007-08-10$144.71$150.0026.6%7.2%22.5%97.9%27.3%11.1%-0.4%-1.72B17.07B-205.2M2.4312.77N/AN/A389,869947,9323,391,1516,530,965
2007-08-13$145.23$150.0025.4%6.7%22.6%91.3%24.4%9.8%-0.3%-2.01B19.11B-202.8M1.8811.24N/AN/A289,009544,4753,542,3666,791,371
2007-08-14$143.01$150.0025.2%7.1%23.0%90.2%24.7%10.6%-0.2%-2.26B26.08B-200.3M2.4710.44N/AN/A369,286910,5773,600,3086,891,745
2007-08-15$141.04$150.0027.7%7.9%23.3%100.0%28.5%11.1%-0.3%-2.31B30.50B-197.0M1.5210.92N/AN/A521,382790,5133,671,4046,817,036
2007-08-16$142.10$150.0027.0%7.7%23.5%96.1%27.9%11.4%-1.3%-2.22B27.64B-202.0M1.8244.35N/AN/A736,7831,341,7403,775,3556,826,171
2007-08-17$144.71$148.0025.5%7.3%24.7%88.4%28.1%11.5%-1.0%-1.81B15.75B-211.3M1.6622.36N/AN/A667,2601,108,2244,026,8167,012,079
2007-08-20$144.64$148.0023.6%6.8%24.6%78.7%24.4%10.6%-0.1%-1.08B10.18B-203.5M1.549.15N/AN/A215,000331,7873,032,0565,735,953
2007-08-21$144.93$148.0022.8%6.5%24.0%74.7%22.5%9.8%0.2%-1.17B10.28B-202.1M1.237.91N/AN/A224,404275,2663,061,9065,848,048
2007-08-22$146.65$148.0020.2%5.8%24.5%61.3%21.9%9.2%-0.2%-1.04B5.16B-199.6M1.267.51N/AN/A281,898356,5723,162,5955,917,367
2007-08-23$146.52$147.0019.8%5.7%23.0%59.3%23.4%9.1%0.3%-1.11B4.24B-203.8M4.227.18N/AN/A112,330473,7413,345,5606,088,523
2007-08-24$148.33$147.0018.5%5.3%22.3%52.8%20.1%8.5%0.3%-970.9M-278.3M-203.4M2.417.89N/AN/A163,821395,6003,368,6106,247,690
2007-08-27$146.95$147.0020.1%5.8%21.9%61.2%20.3%8.6%0.3%-1.18B4.15B-204.7M3.7912.67N/AN/A77,625294,2943,431,4526,396,458
2007-08-28$143.72$147.0023.7%6.8%22.9%79.3%25.2%10.0%-0.2%-1.48B13.30B-207.2M2.3211.00N/AN/A201,335466,6463,443,6046,470,742
2007-08-29$146.54$147.0020.9%6.0%24.0%65.0%23.7%8.9%0.0%-1.26B5.28B-210.8M2.2310.55N/AN/A142,233317,1343,536,5086,619,977
2007-08-30$146.15$147.0022.8%6.5%23.8%74.7%23.7%9.4%-0.3%-1.27B6.23B-213.4M2.1111.71N/AN/A128,321271,1413,593,2176,686,422
2007-08-31$147.59$146.0021.2%6.1%22.0%66.6%21.3%8.7%-0.4%-1.12B1.86B-211.2M2.1413.61N/AN/A120,393257,6363,641,3566,733,813