SPY Options History — July 2009

In July 2009, SPY traded between $87.96 and $98.81. ATM implied volatility averaged 23.6%, placing in the 6.5% IV rank vs the trailing year. The 30-day expected move averaged 6.8%. IV traded above realized volatility by 2.2% (HV 20d: 21.3%). Max pain ranged from $91.00 to $95.00. Net GEX was positive for 10 of 22 trading days. Term structure was in contango for 22 of 22 days. Put/call ratio averaged 1.67.

Notable Days

  • 2009-07-23: Highest Volume — 2,517,958 contracts
  • 2009-07-07: Largest IV spike — 11.4% change
  • 2009-07-07: Highest IV Rank — 12.3%
  • 2009-07-08: Largest Expected Move — 8.1%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$93.63$87.96$98.81$92.33$98.81
Max Pain$92.86$91.00$95.00$91.00$95.00
ATM IV23.6%20.8%28.7%22.9%22.5%
Expected Move6.8%6.0%8.1%6.6%6.5%
HV 20d21.3%17.1%24.1%18.5%17.1%
HV 60d23.6%21.7%25.5%25.3%21.7%
IV Rank6.5%3.3%12.3%5.7%5.3%
IV Percentile18.1%9.9%34.1%17.1%15.1%
Term Structure1.3%0.3%1.9%1.4%1.5%
VWIV24.5%21.6%28.6%23.6%22.9%
Skew 25d4.8%2.5%7.2%4.9%2.5%
Skew 10d9.5%5.1%13.9%11.2%5.1%
Call IV 25d21.6%19.6%25.0%20.7%21.9%
Put IV 25d26.4%22.7%32.1%25.6%24.4%
Bid-Ask Spread %2.631.884.232.003.04
Gamma HHI0.060.050.110.050.06
Net GEX-254.0M-1.11B421.4M-265.0M26.1M
Net DEX1.57B-6.35B14.67B2.91B-5.53B
Net VEX-106.2M-115.2M-98.4M-105.1M-115.2M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.671.032.251.821.68
Total Volume1,264,005.227747,8352,517,9581,101,0781,034,945
Total OI10,795,114.59,474,90212,136,7969,602,65211,665,955

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2009-07-01$92.33$91.0022.9%6.6%18.5%5.7%23.6%4.9%1.4%-265.0M2.91B-105.1M1.822.00N/AN/A389,981711,0973,563,6596,038,993
2009-07-02$89.81$92.0024.0%6.9%20.4%7.0%24.3%5.0%1.4%-649.3M9.40B-107.9M1.911.98N/AN/A408,901782,7363,645,9186,274,287
2009-07-06$89.80$93.0025.8%7.4%20.4%9.0%26.9%7.0%1.1%-655.2M8.75B-104.9M1.063.87N/AN/A489,899521,3273,708,8826,421,968
2009-07-07$88.06$92.0028.7%8.0%21.3%12.3%28.6%7.2%0.3%-780.3M12.55B-105.3M1.504.23N/AN/A475,835713,8413,777,9296,531,432
2009-07-08$88.00$92.0028.4%8.1%21.1%12.0%28.5%7.0%0.3%-878.9M14.01B-105.6M1.673.98N/AN/A662,8631,108,7093,845,8306,645,785
2009-07-09$88.17$92.0026.6%7.8%21.1%9.9%28.5%6.9%1.0%-953.2M12.96B-107.2M2.053.47N/AN/A364,568745,8203,906,8506,900,210
2009-07-10$87.96$92.0024.6%7.6%20.9%7.7%27.1%6.4%1.2%-1.11B14.67B-106.4M1.413.49N/AN/A499,694706,2683,930,5277,070,164
2009-07-13$90.10$92.0026.3%7.2%23.1%9.6%26.2%6.2%1.0%-776.4M8.01B-105.2M1.442.87N/AN/A663,472953,1484,006,1017,166,154
2009-07-14$90.61$92.0024.5%6.9%21.9%7.5%24.1%6.0%1.4%-717.9M6.58B-106.3M1.032.67N/AN/A624,749644,9254,044,8117,331,961
2009-07-15$93.26$92.0022.3%6.9%23.8%5.0%25.1%5.4%1.1%72.0M-1.47B-104.6M1.322.58N/AN/A848,3361,120,2674,244,2547,379,244
2009-07-16$94.15$92.0023.5%6.7%24.0%6.3%25.0%5.2%1.3%421.4M-4.38B-106.3M1.452.79N/AN/A668,172966,7504,559,8867,576,910
2009-07-17$94.13$92.0022.7%6.5%23.9%5.5%23.9%4.9%1.7%248.1M-4.31B-101.1M1.612.44N/AN/A526,470845,3844,389,7967,721,099
2009-07-20$95.13$92.0022.5%6.5%24.1%5.3%23.8%4.6%1.6%-53.0M-1.84B-102.3M1.841.90N/AN/A318,280587,0213,370,9706,103,932
2009-07-21$95.57$93.0021.7%6.2%20.9%4.3%22.7%3.8%1.7%-11.3M-2.73B-99.6M1.602.09N/AN/A310,535495,7103,458,2036,271,238
2009-07-22$95.55$93.0021.4%6.1%21.0%4.0%22.1%3.6%1.8%-30.1M-2.03B-101.4M1.662.08N/AN/A387,924644,1723,522,4376,368,695
2009-07-23$97.66$93.0021.2%6.1%21.9%3.7%22.3%3.0%1.6%110.4M-5.84B-98.4M2.242.25N/AN/A776,0701,741,8883,627,2666,557,309
2009-07-24$97.99$94.0020.8%6.0%20.9%3.3%21.6%3.1%1.6%165.7M-6.35B-105.9M2.252.00N/AN/A315,554710,2073,819,4727,140,315
2009-07-27$98.35$94.0021.8%6.2%20.8%4.4%22.4%3.1%1.4%92.8M-5.73B-109.9M1.741.88N/AN/A272,784475,0513,861,0887,188,723
2009-07-28$97.89$95.0021.8%6.3%20.9%4.5%22.7%3.2%1.9%47.0M-4.80B-111.2M2.042.10N/AN/A275,934564,0813,897,9347,262,400
2009-07-29$97.79$95.0022.2%6.4%20.5%4.9%23.1%3.5%1.8%7.7M-4.23B-114.1M1.992.16N/AN/A324,662646,7843,946,8767,323,850
2009-07-30$98.67$95.0022.2%6.4%20.6%4.9%22.8%3.0%1.4%100.1M-5.95B-113.0M1.461.89N/AN/A603,815879,4863,999,8817,423,325
2009-07-31$98.81$95.0022.5%6.5%17.1%5.3%22.9%2.5%1.5%26.1M-5.53B-115.2M1.683.04N/AN/A386,045648,9004,071,6477,594,308