SPY Options History — August 2009

In August 2009, SPY traded between $98.31 and $103.40. ATM implied volatility averaged 22.3%, placing in the 4.8% IV rank vs the trailing year. The 30-day expected move averaged 6.5%. IV traded above realized volatility by 6.7% (HV 20d: 15.6%). Max pain ranged from $95.00 to $99.00. Net GEX was positive for 15 of 21 trading days. Term structure was in contango for 18 of 21 days. Put/call ratio averaged 1.69.

Notable Days

  • 2009-08-21: Highest Volume — 1,854,655 contracts
  • 2009-08-17: Largest IV spike — 15.9% change
  • 2009-08-17: Highest IV Rank — 8.6%
  • 2009-08-17: Largest Expected Move — 7.3%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$101.26$98.31$103.40$100.44$102.46
Max Pain$96.57$95.00$99.00$95.00$99.00
ATM IV22.3%20.3%25.6%23.1%22.9%
Expected Move6.5%6.2%7.3%6.6%6.6%
HV 20d15.6%13.0%17.5%17.5%15.9%
HV 60d19.8%18.4%21.7%21.7%18.5%
IV Rank4.8%2.6%8.6%5.9%4.1%
IV Percentile12.0%5.6%23.8%17.1%15.5%
Term Structure0.5%-0.3%1.7%0.6%1.2%
VWIV23.8%21.9%27.5%23.7%27.5%
Skew 25d4.6%2.5%6.2%3.0%5.0%
Skew 10d9.3%5.0%13.1%5.3%10.6%
Call IV 25d20.7%19.6%22.8%21.9%20.6%
Put IV 25d25.3%23.1%28.5%24.8%25.6%
Bid-Ask Spread %2.732.034.672.163.96
Gamma HHI0.070.040.300.060.05
Net GEX53.3M-633.8M1.00B217.2M-167.6M
Net DEX-7.79B-16.39B1.19B-9.64B-3.98B
Net VEX-113.6M-120.4M-108.9M-111.0M-118.8M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.690.992.291.651.87
Total Volume1,253,050.714759,0271,854,6551,235,920989,345
Total OI12,678,062.42910,611,80714,447,47811,822,82612,139,028

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2009-08-03$100.44$95.0023.1%6.6%17.5%5.9%23.7%3.0%0.6%217.2M-9.64B-111.0M1.652.16N/AN/A466,797769,1234,137,2657,685,561
2009-08-04$100.70$96.0022.1%6.3%14.8%4.8%22.8%2.8%0.7%223.0M-10.35B-110.1M1.692.07N/AN/A354,671601,1174,194,9157,932,215
2009-08-05$100.41$96.0021.6%6.2%15.0%4.3%21.9%2.5%1.7%210.8M-9.52B-109.5M1.352.30N/AN/A486,136655,4104,239,1407,979,410
2009-08-06$99.89$96.0022.7%6.5%15.5%5.4%23.3%3.0%1.0%117.5M-7.60B-117.9M1.832.21N/AN/A338,832621,2504,334,2458,080,999
2009-08-07$101.20$95.0021.4%6.6%15.3%4.0%24.0%4.6%-0.0%170.5M-10.45B-112.8M1.722.49N/AN/A609,3311,048,1934,341,9338,266,042
2009-08-10$100.99$95.0021.3%6.6%14.2%3.9%24.5%5.0%0.1%152.1M-10.12B-110.3M1.672.16N/AN/A283,977475,0504,416,3988,498,390
2009-08-11$99.73$95.0021.7%6.8%15.6%4.2%24.3%5.0%0.0%-140.6M-5.25B-116.0M1.432.49N/AN/A448,515640,2164,447,8078,561,070
2009-08-12$100.80$95.0020.3%6.6%13.0%2.6%24.0%5.3%0.1%71.2M-8.68B-112.9M1.702.51N/AN/A490,045832,6584,533,9198,599,765
2009-08-13$101.57$95.0022.3%6.4%13.0%4.9%23.6%5.2%0.1%211.9M-11.34B-112.3M2.112.62N/AN/A466,929986,7464,534,4058,876,511
2009-08-14$100.79$96.0022.1%6.3%13.5%4.6%22.9%5.1%0.1%20.9M-9.13B-113.3M1.112.77N/AN/A700,255776,8764,602,9279,100,809
2009-08-17$98.31$96.0025.6%7.3%16.6%8.6%26.0%5.7%-0.3%-633.8M1.19B-120.4M1.622.54N/AN/A647,9741,047,0034,691,1269,164,850
2009-08-18$99.09$96.0024.1%6.9%16.7%6.9%24.7%5.5%-0.1%-315.8M-3.70B-116.7M2.292.44N/AN/A433,636993,1724,766,1359,227,294
2009-08-19$99.96$96.0023.5%6.7%16.8%6.2%25.0%6.2%0.3%-228.1M-6.01B-119.0M1.862.11N/AN/A503,245935,7194,779,1069,318,157
2009-08-20$100.99$97.0022.0%6.3%15.5%4.5%23.0%5.5%0.3%155.7M-10.00B-109.5M1.662.37N/AN/A530,784882,7744,796,7649,396,566
2009-08-21$102.97$97.0021.8%6.3%16.7%4.3%22.9%5.3%0.3%1.00B-16.39B-108.9M0.992.68N/AN/A931,109923,5464,837,3779,610,101
2009-08-24$102.96$98.0021.9%6.2%16.7%4.4%22.5%4.5%0.3%19.1M-6.30B-111.8M1.352.03N/AN/A474,903638,7833,671,7116,940,096
2009-08-25$103.16$98.0022.1%6.3%16.5%4.4%22.5%3.6%0.3%54.6M-6.93B-109.5M1.472.70N/AN/A474,763698,3493,794,9877,118,198
2009-08-26$103.17$99.0022.0%6.4%16.5%4.3%23.9%4.9%1.1%26.3M-6.72B-111.9M2.174.67N/AN/A293,346636,9553,889,4947,352,156
2009-08-27$103.40$99.0021.9%6.4%16.3%4.2%23.2%4.8%1.1%9.8M-6.76B-115.6M2.244.18N/AN/A356,775800,8783,949,3407,574,822
2009-08-28$103.38$99.0022.0%6.3%16.4%4.3%24.1%4.7%1.2%-59.8M-5.97B-117.9M1.703.93N/AN/A395,320673,5594,011,5187,846,759
2009-08-31$102.46$99.0022.9%6.6%15.9%4.1%27.5%5.0%1.2%-167.6M-3.98B-118.8M1.873.96N/AN/A345,254644,0914,112,4908,026,538