SPY Options History — November 2009

In November 2009, SPY traded between $104.32 and $111.38. ATM implied volatility averaged 20.5%, placing in the 5.9% IV rank vs the trailing year. The 30-day expected move averaged 6.0%. IV traded above realized volatility by 0.3% (HV 20d: 20.2%). Max pain ranged from $105.00 to $108.00. Net GEX was positive for 4 of 20 trading days. Term structure was in contango for 16 of 20 days. Put/call ratio averaged 1.59.

Notable Days

  • 2009-11-02: Highest Volume — 1,835,850 contracts
  • 2009-11-12: Largest IV spike — 21.1% change
  • 2009-11-02: Highest IV Rank — 14.9%
  • 2009-11-02: Largest Expected Move — 7.4%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$109.08$104.32$111.38$104.32$109.94
Max Pain$105.95$105.00$108.00$107.00$108.00
ATM IV20.5%17.8%25.9%25.9%20.8%
Expected Move6.0%5.0%7.4%7.4%6.0%
HV 20d20.2%15.2%21.5%19.8%15.2%
HV 60d17.3%16.6%18.0%17.6%16.9%
IV Rank5.9%1.1%14.9%14.9%7.6%
IV Percentile11.3%0.4%38.5%38.5%12.3%
Term Structure0.3%-0.1%1.6%-0.1%0.1%
VWIV22.3%18.3%26.5%26.5%25.9%
Skew 25d5.4%3.5%8.3%8.3%5.7%
Skew 10d10.9%6.7%18.5%18.5%13.0%
Call IV 25d18.9%16.5%22.3%22.3%19.0%
Put IV 25d24.3%20.0%30.6%30.6%24.7%
Bid-Ask Spread %2.992.105.593.155.25
Gamma HHI0.050.040.070.050.04
Net GEX-338.9M-1.14B537.7M-1.13B-636.7M
Net DEX-2.23B-12.38B13.20B13.20B1.01B
Net VEX-135.7M-156.3M-119.8M-154.5M-134.4M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.591.192.261.591.89
Total Volume1,262,991.45861,1721,835,8501,835,8501,122,791
Total OI15,128,474.1512,932,79816,644,68714,178,46614,490,365

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2009-11-02$104.32$107.0025.9%7.4%19.8%14.9%26.5%8.3%-0.1%-1.13B13.20B-154.5M1.593.15N/AN/A709,7821,126,0684,286,1139,892,353
2009-11-03$104.65$107.0024.3%7.0%19.2%12.1%25.8%7.3%0.9%-1.14B12.51B-156.3M1.433.06N/AN/A475,616678,4774,419,21610,139,421
2009-11-04$104.92$107.0024.1%6.9%19.2%11.8%24.9%6.8%0.9%-1.07B10.51B-154.3M2.263.63N/AN/A416,747940,5214,457,77910,256,448
2009-11-05$106.85$107.0021.5%6.2%20.1%7.3%22.8%5.8%1.6%-799.5M4.69B-149.3M2.012.59N/AN/A332,735668,3134,502,77310,447,622
2009-11-06$107.13$105.0019.6%6.3%20.0%4.0%23.7%6.1%-0.0%-816.2M3.43B-145.9M1.692.52N/AN/A507,566857,6314,523,69910,531,626
2009-11-09$109.57$105.0018.9%5.9%21.5%2.9%22.7%5.7%0.2%-108.4M-6.52B-134.6M1.793.47N/AN/A596,7161,070,0444,581,29310,651,965
2009-11-10$109.59$105.0018.0%5.9%21.5%1.3%22.1%5.1%0.3%-10.7M-6.84B-134.3M1.192.75N/AN/A494,882590,9614,633,05110,900,172
2009-11-11$110.15$105.0018.1%6.0%20.7%1.5%21.6%4.7%0.0%79.9M-8.46B-133.6M1.242.82N/AN/A651,503809,9944,670,54110,961,420
2009-11-12$109.03$105.0022.0%6.3%21.0%8.1%22.7%5.4%-0.1%-296.1M-3.48B-140.0M1.292.29N/AN/A592,737764,7394,709,51011,107,284
2009-11-13$109.62$105.0021.0%6.0%20.9%6.5%23.2%5.3%0.3%-17.3M-5.62B-136.9M1.852.50N/AN/A421,440781,2164,855,17811,203,927
2009-11-16$111.21$105.0021.1%6.0%21.4%6.5%21.8%4.7%-0.1%414.2M-11.87B-129.8M1.362.81N/AN/A599,926817,5934,896,54011,302,016
2009-11-17$111.34$105.0020.5%5.9%21.2%5.6%21.4%4.6%0.3%466.0M-12.23B-128.1M1.282.63N/AN/A454,876582,6804,922,42111,436,602
2009-11-18$111.27$105.0020.3%5.8%20.9%5.2%21.3%4.8%0.1%537.7M-12.38B-127.0M1.502.10N/AN/A386,074579,8394,935,51911,517,327
2009-11-19$109.82$106.0020.3%5.8%21.3%5.2%21.0%5.3%0.1%-507.1M-4.51B-130.1M1.372.36N/AN/A652,572893,8684,900,98411,595,863
2009-11-20$109.43$106.0019.6%5.6%20.9%4.0%20.2%5.3%0.3%-416.8M-4.09B-125.6M1.353.23N/AN/A576,389779,4285,001,35111,643,336
2009-11-23$110.82$106.0018.3%5.2%20.8%2.1%19.4%4.2%0.3%-237.1M-5.00B-119.8M1.682.53N/AN/A495,044831,0163,807,8789,124,920
2009-11-24$110.99$106.0017.8%5.0%20.7%1.1%18.4%3.6%0.2%-254.1M-4.87B-120.9M1.662.15N/AN/A324,344536,8283,948,2179,461,789
2009-11-25$111.38$106.0018.0%5.1%19.1%1.7%18.3%3.5%0.4%-238.1M-5.66B-122.8M1.482.43N/AN/A407,498604,5064,023,8549,635,084
2009-11-27$109.57$108.0021.0%6.0%19.1%8.0%21.3%5.6%0.2%-597.9M1.58B-135.0M1.975.59N/AN/A379,922746,9474,189,92310,004,103
2009-11-30$109.94$108.0020.8%6.0%15.2%7.6%25.9%5.7%0.1%-636.7M1.01B-134.4M1.895.25N/AN/A388,976733,8154,287,80310,202,562