SPY Options History — April 2009

In April 2009, SPY traded between $81.06 and $87.42. ATM implied volatility averaged 34.4%, placing in the 21.5% IV rank vs the trailing year. The 30-day expected move averaged 10.0%. IV traded below realized volatility by 3.6% (HV 20d: 38.0%). Max pain ranged from $79.00 to $85.00. Net GEX was positive for 11 of 21 trading days. Term structure was in contango for 17 of 21 days. Put/call ratio averaged 1.42.

Notable Days

  • 2009-04-02: Highest Volume — 1,928,639 contracts
  • 2009-04-20: Largest IV spike — 16.6% change
  • 2009-04-02: Highest IV Rank — 26.1%
  • 2009-04-02: Largest Expected Move — 11.1%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$84.89$81.06$87.42$81.06$87.42
Max Pain$82.43$79.00$85.00$79.00$85.00
ATM IV34.4%31.1%38.6%38.3%32.6%
Expected Move10.0%8.9%11.1%11.0%9.3%
HV 20d38.0%29.7%46.3%46.3%29.8%
HV 60d40.4%38.9%41.8%41.1%39.0%
IV Rank21.5%17.9%26.1%25.8%19.5%
IV Percentile47.8%41.3%59.1%58.3%41.3%
Term Structure0.4%-1.0%1.6%0.7%0.7%
VWIV36.0%32.2%39.4%39.4%33.1%
Skew 25d6.3%5.3%7.4%6.3%5.6%
Skew 10d12.5%10.4%14.9%12.7%10.4%
Call IV 25d32.1%28.5%35.6%35.3%30.3%
Put IV 25d38.5%34.3%41.7%41.6%35.9%
Bid-Ask Spread %4.162.376.352.932.37
Gamma HHI0.060.040.250.040.05
Net GEX100.1M-159.6M684.4M-41.2M-69.0M
Net DEX-2.19B-10.08B3.30B1.75B-1.28B
Net VEX-99.5M-112.9M-94.0M-112.9M-101.6M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.421.122.031.401.39
Total Volume1,213,814.095835,5301,928,6391,166,0681,109,783
Total OI10,625,735.5718,780,46712,183,11310,469,95410,706,590

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2009-04-01$81.06$79.0038.3%11.0%46.3%25.8%39.4%6.3%0.7%-41.2M1.75B-112.9M1.402.93N/AN/A486,512679,5564,211,2746,258,680
2009-04-02$83.43$79.0038.6%11.1%43.3%26.1%39.0%5.9%1.3%127.2M-3.41B-102.1M1.124.10N/AN/A910,7581,017,8814,090,7835,969,951
2009-04-03$84.26$80.0035.6%10.9%43.2%22.9%39.2%7.4%0.0%162.5M-3.91B-101.6M1.156.35N/AN/A588,989674,6934,326,2146,185,854
2009-04-06$83.60$80.0034.7%10.8%42.9%21.9%39.2%7.2%0.3%132.8M-2.50B-98.9M1.595.50N/AN/A357,618568,3144,455,6226,377,261
2009-04-07$81.65$80.0033.9%10.7%40.6%21.0%37.9%7.0%0.7%15.2M642.8M-97.6M1.234.87N/AN/A523,957644,1434,521,9986,456,282
2009-04-08$82.53$81.0031.8%10.3%40.6%18.7%37.7%6.5%0.9%86.9M-972.1M-97.9M1.464.39N/AN/A431,361629,9454,591,1016,575,915
2009-04-09$85.81$81.0034.7%9.9%40.7%21.8%36.0%5.3%1.0%403.3M-7.73B-96.8M1.275.20N/AN/A591,381753,9284,640,6586,657,173
2009-04-13$85.83$81.0035.4%10.1%40.7%22.6%36.2%5.7%0.2%354.7M-7.74B-94.4M1.145.29N/AN/A538,608614,2334,678,9076,770,413
2009-04-14$84.35$82.0035.6%10.2%41.5%22.9%36.0%5.5%0.4%240.0M-4.67B-95.4M1.355.66N/AN/A551,612744,7644,777,6006,909,020
2009-04-15$85.25$82.0034.2%9.8%40.5%21.3%35.1%5.5%1.2%285.0M-6.20B-95.5M1.334.28N/AN/A591,969788,0524,747,4586,993,001
2009-04-16$86.50$83.0033.0%9.5%40.1%20.0%33.9%5.8%1.0%445.9M-8.80B-94.9M1.204.59N/AN/A721,742867,7084,793,8447,165,104
2009-04-17$87.08$83.0031.1%8.9%39.7%17.9%32.2%5.8%1.6%684.4M-10.08B-94.0M1.144.09N/AN/A773,364878,7734,824,7927,358,321
2009-04-20$83.43$84.0036.3%10.4%41.5%23.6%36.1%6.5%-0.5%-89.0M2.68B-99.8M1.473.77N/AN/A495,761728,0773,571,4455,209,022
2009-04-21$85.06$84.0034.1%9.8%34.3%21.2%35.8%6.8%-0.4%-52.5M1.44B-96.5M1.743.25N/AN/A484,244844,4043,685,5195,422,528
2009-04-22$84.54$84.0034.0%9.8%33.6%21.1%34.7%6.3%0.7%-159.6M3.30B-99.3M1.413.82N/AN/A464,314654,1693,805,1075,727,867
2009-04-23$85.37$84.0034.1%9.8%33.6%21.2%35.2%6.7%0.1%-117.2M1.74B-102.0M1.743.55N/AN/A315,075547,2083,897,2185,891,353
2009-04-24$86.66$84.0033.1%9.5%33.3%20.1%34.8%7.1%0.1%-14.3M-1.38B-102.5M1.783.20N/AN/A391,596697,0333,940,6306,007,526
2009-04-27$85.84$85.0034.9%10.0%32.7%22.1%35.9%7.0%-1.0%-104.7M739.0M-102.8M2.033.16N/AN/A280,871571,4134,002,5286,180,641
2009-04-28$85.57$85.0034.0%9.7%29.7%21.1%35.4%6.9%-0.5%-152.4M1.87B-101.8M1.754.20N/AN/A303,417532,1134,034,0566,252,941
2009-04-29$87.39$85.0032.8%9.4%30.2%19.8%33.9%6.2%0.1%-36.0M-1.44B-100.9M1.222.80N/AN/A513,570627,1874,107,9456,360,305
2009-04-30$87.42$85.0032.6%9.3%29.8%19.5%33.1%5.6%0.7%-69.0M-1.28B-101.6M1.392.37N/AN/A463,969645,8144,257,8796,448,711