SPY Options History — November 2007

In November 2007, SPY traded between $140.95 and $152.07. ATM implied volatility averaged 23.8%, placing in the 78.9% IV rank vs the trailing year. The 30-day expected move averaged 6.8%. IV traded above realized volatility by 2.5% (HV 20d: 21.4%). Max pain ranged from $148.00 to $154.00. Net GEX was positive for 0 of 21 trading days. Term structure was in contango for 4 of 21 days. Put/call ratio averaged 2.00.

Notable Days

  • 2007-11-08: Highest Volume — 1,926,355 contracts
  • 2007-11-07: Largest IV spike — 35.3% change
  • 2007-11-12: Highest IV Rank — 100.0%
  • 2007-11-26: Largest Expected Move — 8.2%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$146.48$140.95$152.07$151.03$148.66
Max Pain$149.86$148.00$154.00$154.00$150.00
ATM IV23.8%19.0%28.1%21.5%21.0%
Expected Move6.8%5.7%8.2%6.2%6.0%
HV 20d21.4%16.1%27.3%16.8%26.0%
HV 60d17.7%16.1%19.4%17.3%19.4%
IV Rank78.9%55.2%100.0%68.3%64.2%
IV Percentile92.1%79.8%100.0%88.6%81.3%
Term Structure-0.4%-1.6%1.0%-0.7%0.6%
VWIV23.9%20.0%27.5%21.2%20.7%
Skew 25d8.5%5.9%11.0%6.5%7.1%
Skew 10d14.8%10.7%19.8%11.8%11.5%
Call IV 25d19.5%15.7%24.5%18.2%17.8%
Put IV 25d27.9%22.7%32.6%24.7%24.9%
Bid-Ask Spread %5.332.0011.682.0011.68
Gamma HHI0.050.040.260.040.04
Net GEX-1.44B-2.75B-926.0M-1.15B-926.0M
Net DEX12.63B-641.4M24.57B3.29B2.25B
Net VEX-213.1M-217.2M-206.5M-213.1M-213.8M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio2.001.522.541.942.11
Total Volume960,663.905300,5311,926,3551,171,348856,155
Total OI10,304,075.9059,441,70311,224,0699,611,79710,602,677

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2007-11-01$151.03$154.0021.5%6.2%16.8%68.3%21.2%6.5%-0.7%-1.15B3.29B-213.1M1.942.00N/AN/A398,269773,0793,502,9036,108,894
2007-11-02$151.20$154.0019.8%5.7%16.1%59.6%20.4%5.9%1.0%-1.18B2.76B-213.4M1.613.55N/AN/A379,033610,7713,589,9666,184,846
2007-11-05$150.05$150.0022.1%6.4%16.2%71.0%22.9%9.2%-0.4%-1.27B6.11B-213.9M1.643.74N/AN/A311,275510,6853,691,9436,226,345
2007-11-06$152.07$150.0019.0%5.7%16.6%55.2%20.0%8.2%0.1%-1.04B-641.4M-210.8M2.133.13N/AN/A267,526569,4533,765,0606,312,663
2007-11-07$147.91$150.0025.7%6.8%19.1%89.5%23.4%9.5%-0.5%-1.52B13.37B-214.1M2.125.35N/AN/A359,525763,8423,800,5166,419,849
2007-11-08$147.16$150.0024.2%6.9%19.1%81.8%23.9%9.7%-0.4%-1.63B15.70B-213.4M2.063.95N/AN/A629,8071,296,5483,857,6446,478,876
2007-11-09$145.14$150.0024.9%7.6%19.2%85.6%25.5%10.4%-0.9%-1.76B21.03B-213.9M2.114.56N/AN/A336,694710,1463,973,6426,624,913
2007-11-12$143.70$150.0028.1%7.7%19.3%100.0%25.7%11.0%-0.9%-1.84B24.57B-206.5M1.784.55N/AN/A383,680683,7014,046,8236,678,277
2007-11-13$148.08$150.0024.1%6.4%22.6%79.6%23.8%9.9%-0.4%-1.69B9.80B-213.8M2.244.77N/AN/A401,311897,1274,124,2466,672,223
2007-11-14$147.67$149.0023.4%6.7%22.5%76.5%23.5%10.0%-0.4%-1.85B11.87B-216.6M1.524.80N/AN/A349,744531,9014,204,9656,831,635
2007-11-15$145.54$149.0025.1%7.2%22.9%84.9%26.5%10.6%-0.6%-2.03B18.55B-214.2M2.285.55N/AN/A401,452916,3224,199,7176,789,080
2007-11-16$145.79$149.0023.4%6.7%21.2%76.2%24.3%10.0%-0.3%-2.75B17.68B-214.3M2.075.23N/AN/A395,750820,7584,271,3286,952,741
2007-11-19$143.76$149.0024.3%7.0%21.5%80.9%24.5%9.0%-0.4%-1.17B15.96B-210.1M2.083.80N/AN/A247,525515,6953,474,4805,967,223
2007-11-20$144.64$149.0023.4%6.7%21.4%76.4%24.3%8.3%-0.5%-1.20B14.34B-216.5M2.255.05N/AN/A281,272631,9263,568,1086,165,584
2007-11-21$141.68$148.0025.9%7.4%22.3%88.8%25.6%7.8%-0.8%-1.28B20.18B-210.2M1.785.29N/AN/A280,890499,5053,626,9336,247,119
2007-11-23$144.13$148.0025.5%7.3%23.4%86.9%25.5%7.4%-1.4%-1.20B14.56B-217.2M2.174.47N/AN/A94,903205,6283,717,7126,339,454
2007-11-26$140.95$148.0027.7%8.2%23.8%98.1%27.5%7.2%-1.6%-1.31B22.21B-208.2M1.633.42N/AN/A241,845394,8383,740,3876,398,290
2007-11-27$142.57$150.0025.3%7.2%24.3%86.1%26.0%7.0%-0.2%-1.33B18.28B-210.2M2.549.24N/AN/A221,112561,4903,793,5036,466,852
2007-11-28$147.13$150.0023.0%6.5%27.3%74.2%22.9%6.8%-0.1%-1.08B6.78B-215.5M2.049.94N/AN/A282,877577,7403,813,3116,626,882
2007-11-29$147.18$150.0022.8%6.5%26.9%73.3%23.8%6.4%0.3%-1.06B6.55B-214.5M1.927.92N/AN/A199,099383,0433,855,7706,672,214
2007-11-30$148.66$150.0021.0%6.0%26.0%64.2%20.7%7.1%0.6%-926.0M2.25B-213.8M2.1111.68N/AN/A275,563580,5923,892,8516,709,826