SPY Options History — June 2008

In June 2008, SPY traded between $127.53 and $140.78. ATM implied volatility averaged 20.3%, placing in the 48.1% IV rank vs the trailing year. The 30-day expected move averaged 5.8%. IV traded above realized volatility by 2.7% (HV 20d: 17.7%). Max pain ranged from $135.00 to $140.00. Net GEX was positive for 0 of 21 trading days. Term structure was in contango for 20 of 21 days. Put/call ratio averaged 1.69.

Notable Days

  • 2008-06-19: Highest Volume — 3,810,789 contracts
  • 2008-06-06: Largest IV spike — 31.5% change
  • 2008-06-11: Highest IV Rank — 63.3%
  • 2008-06-26: Largest Expected Move — 6.5%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$134.26$127.53$140.78$138.90$127.98
Max Pain$138.48$135.00$140.00$140.00$135.00
ATM IV20.3%16.5%23.2%17.5%22.0%
Expected Move5.8%4.7%6.5%5.0%6.3%
HV 20d17.7%13.5%19.9%13.9%19.8%
HV 60d18.2%15.8%20.3%20.3%16.8%
IV Rank48.1%27.4%63.3%33.6%57.3%
IV Percentile48.4%23.0%69.8%32.5%59.9%
Term Structure0.7%-0.0%1.3%0.8%0.8%
VWIV20.5%17.9%22.2%18.2%21.8%
Skew 25d5.5%4.5%6.8%5.0%4.6%
Skew 10d10.2%8.0%12.6%9.3%8.6%
Call IV 25d17.8%14.4%20.2%15.3%19.7%
Put IV 25d23.3%19.2%25.7%20.3%24.3%
Bid-Ask Spread %3.631.985.875.002.81
Gamma HHI0.080.050.170.050.09
Net GEX-1.65B-2.93B-591.7M-1.02B-1.85B
Net DEX22.14B1.74B40.08B9.60B31.09B
Net VEX-174.1M-189.7M-151.1M-180.2M-156.8M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.690.273.081.173.08
Total Volume1,255,157.333681,5323,810,789758,4691,886,552
Total OI10,834,107.7148,585,13712,484,84910,182,6819,894,542

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2008-06-02$138.90$140.0017.5%5.0%13.9%33.6%18.2%5.0%0.8%-1.02B9.60B-180.2M1.175.00N/AN/A349,935408,5344,054,5406,128,141
2008-06-03$138.09$140.0018.1%5.2%14.0%36.4%17.9%5.2%0.9%-1.04B11.12B-180.1M1.754.77N/AN/A328,961575,0964,172,3946,163,652
2008-06-04$138.02$140.0018.8%5.4%13.5%39.6%18.6%5.3%0.5%-1.07B11.66B-183.0M1.095.29N/AN/A327,442356,0664,235,4736,296,544
2008-06-05$140.78$140.0016.5%4.7%14.0%27.4%18.1%4.8%1.0%-591.7M1.74B-183.6M2.014.86N/AN/A345,431693,3414,272,4716,392,710
2008-06-06$136.29$140.0021.6%6.2%18.2%55.2%21.5%6.4%0.3%-1.43B19.12B-186.9M1.735.23N/AN/A656,0151,135,3914,329,3676,626,187
2008-06-09$136.62$140.0021.8%6.0%18.3%55.9%21.5%6.4%-0.0%-1.50B18.39B-189.7M1.255.87N/AN/A461,595576,7384,530,6036,948,509
2008-06-10$135.94$140.0021.6%6.0%17.8%55.2%21.3%6.8%0.9%-1.71B21.21B-186.6M1.543.22N/AN/A375,498576,8624,548,8827,036,115
2008-06-11$133.94$139.0023.2%6.3%18.3%63.3%22.2%6.7%0.4%-1.92B28.04B-181.2M1.693.53N/AN/A510,079864,4434,598,3417,121,345
2008-06-12$134.45$139.0021.8%6.2%18.4%55.7%22.1%6.2%0.4%-2.05B27.04B-184.8M2.314.84N/AN/A296,665686,2284,687,6907,319,701
2008-06-13$136.15$139.0019.8%5.7%18.4%45.1%20.5%5.8%0.8%-1.94B20.88B-185.4M1.474.84N/AN/A389,510574,2464,736,3957,390,990
2008-06-16$136.23$139.0019.4%5.6%18.4%43.2%19.8%5.6%0.9%-1.91B20.57B-178.7M0.962.58N/AN/A385,508368,5084,774,5797,425,616
2008-06-17$135.57$139.0019.3%5.5%18.3%42.5%19.3%5.5%0.9%-2.00B23.34B-175.1M1.652.91N/AN/A307,339508,3344,831,3887,404,773
2008-06-18$134.25$138.0020.8%6.0%18.4%50.9%20.5%5.8%0.6%-2.20B28.97B-171.0M1.182.26N/AN/A537,770636,7364,890,8847,430,957
2008-06-19$134.42$138.0019.8%5.7%17.7%45.1%19.8%5.5%0.8%-2.12B27.96B-168.8M0.273.05N/AN/A2,996,066814,7234,912,2037,497,130
2008-06-20$131.58$138.0021.2%6.1%18.9%52.8%21.4%5.6%0.5%-2.93B40.08B-164.4M2.503.83N/AN/A539,4381,347,1404,835,2527,649,597
2008-06-23$131.45$138.0021.4%6.1%18.5%54.1%20.8%5.5%0.4%-1.38B21.88B-163.6M1.732.72N/AN/A249,918431,6143,230,3355,354,802
2008-06-24$131.19$137.0021.3%6.1%18.2%53.1%21.0%5.1%0.5%-1.40B22.42B-163.6M1.981.98N/AN/A387,598765,8733,296,1775,395,056
2008-06-25$131.81$137.0019.7%5.7%18.2%44.9%19.8%4.6%0.9%-1.44B20.16B-165.8M1.692.30N/AN/A321,883545,2553,390,0045,517,649
2008-06-26$128.23$136.0022.7%6.5%19.9%60.7%22.1%4.5%0.7%-1.50B29.21B-156.3M2.362.21N/AN/A468,1261,104,7203,476,3695,621,265
2008-06-27$127.53$136.0018.4%6.2%19.8%38.0%21.5%4.5%1.3%-1.53B30.54B-151.1M2.092.05N/AN/A410,250856,8773,476,3695,621,265
2008-06-30$127.98$135.0022.0%6.3%19.8%57.3%21.8%4.6%0.8%-1.85B31.09B-156.8M3.082.81N/AN/A462,1161,424,4363,720,5576,173,985