SPY Options History — December 2009

In December 2009, SPY traded between $109.61 and $112.72. ATM implied volatility averaged 17.6%, placing in the 2.8% IV rank vs the trailing year. The 30-day expected move averaged 5.1%. IV traded above realized volatility by 4.8% (HV 20d: 12.8%). Max pain ranged from $108.00 to $111.00. Net GEX was positive for 4 of 22 trading days. Term structure was in contango for 22 of 22 days. Put/call ratio averaged 1.54.

Notable Days

  • 2009-12-17: Highest Volume — 5,166,283 contracts
  • 2009-12-31: Largest IV spike — 25.2% change
  • 2009-12-31: Highest IV Rank — 8.6%
  • 2009-12-08: Largest Expected Move — 5.7%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$111.27$109.61$112.72$111.30$111.44
Max Pain$109.73$108.00$111.00$108.00$111.00
ATM IV17.6%13.8%19.9%19.1%17.3%
Expected Move5.1%4.4%5.7%5.5%5.0%
HV 20d12.8%9.2%16.0%15.5%9.9%
HV 60d16.5%15.3%17.0%16.9%15.3%
IV Rank2.8%0.0%8.6%4.0%8.6%
IV Percentile2.8%0.0%8.7%4.0%3.2%
Term Structure1.8%0.3%2.8%0.3%2.2%
VWIV18.7%16.0%21.5%20.3%17.6%
Skew 25d4.7%3.7%5.6%5.1%4.5%
Skew 10d9.8%7.4%12.5%10.6%9.1%
Call IV 25d16.0%13.9%18.4%17.0%15.2%
Put IV 25d20.7%17.8%23.5%22.0%19.8%
Bid-Ask Spread %3.362.394.704.642.70
Gamma HHI0.050.050.070.050.06
Net GEX-356.1M-1.20B215.5M-229.0M-223.1M
Net DEX-1.73B-7.27B10.72B-5.24B607.2M
Net VEX-117.1M-130.6M-105.0M-124.9M-109.3M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.540.362.471.431.59
Total Volume1,145,123.091333,2715,166,283994,233811,644
Total OI14,079,049.22710,200,75316,888,37714,729,11911,445,734

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2009-12-01$111.30$108.0019.1%5.5%15.5%4.0%20.3%5.1%0.3%-229.0M-5.24B-124.9M1.434.64N/AN/A408,723585,5104,359,11210,370,007
2009-12-02$111.25$108.0018.6%5.3%15.6%3.1%19.1%4.8%0.7%-228.2M-5.08B-125.0M2.474.11N/AN/A327,797810,7784,422,77910,463,348
2009-12-03$110.38$108.0019.6%5.6%16.0%5.4%21.0%4.7%0.7%-502.6M-937.9M-130.6M1.624.21N/AN/A397,077643,5924,488,70410,720,338
2009-12-04$111.01$109.0018.6%5.3%15.0%3.1%19.8%4.5%0.8%-199.8M-5.21B-125.1M1.354.67N/AN/A680,619919,7324,560,15810,817,531
2009-12-07$110.84$109.0018.6%5.3%15.0%3.6%20.0%4.4%1.1%-424.2M-2.81B-126.1M1.484.11N/AN/A310,915460,9474,648,14611,025,769
2009-12-08$109.61$109.0019.9%5.7%13.5%6.8%21.5%5.1%0.7%-833.1M2.97B-129.9M1.214.68N/AN/A531,253642,4624,692,70111,083,663
2009-12-09$110.02$109.0019.1%5.4%13.6%4.9%19.3%5.0%1.0%-667.4M605.3M-126.7M1.634.70N/AN/A447,224731,0304,719,60211,135,977
2009-12-10$110.64$110.0018.9%5.4%13.6%4.4%20.5%5.4%2.0%-485.0M-2.27B-123.9M1.572.99N/AN/A391,776613,6134,722,62211,241,667
2009-12-11$111.11$110.0018.6%5.3%13.1%3.6%19.3%5.0%2.2%-309.7M-4.61B-121.6M1.602.90N/AN/A338,026541,0304,785,12011,327,223
2009-12-14$111.87$110.0017.9%5.1%13.2%1.8%19.2%5.0%2.2%-107.8M-7.27B-112.7M1.762.41N/AN/A368,473647,4744,805,50111,438,025
2009-12-15$111.35$110.0018.4%5.3%12.3%3.2%19.7%5.3%2.3%-356.1M-5.03B-113.6M1.292.93N/AN/A420,570541,4764,865,79811,552,579
2009-12-16$111.52$110.0017.4%5.0%12.3%0.5%18.1%4.8%2.1%-421.6M-4.85B-112.1M0.913.13N/AN/A661,724600,5054,906,57711,655,089
2009-12-17$110.18$110.0018.9%5.4%13.1%4.6%20.3%5.6%1.6%-984.3M485.3M-115.8M0.363.34N/AN/A3,796,3961,369,8875,100,66911,787,708
2009-12-18$110.21$110.0018.3%5.2%12.2%2.8%20.5%5.5%2.0%-1.20B10.72B-118.4M2.073.51N/AN/A518,6291,074,9304,129,51912,128,556
2009-12-21$111.33$110.0016.7%4.8%12.6%0.0%17.1%4.8%2.7%-624.0M1.87B-110.4M2.082.42N/AN/A356,716740,2472,634,1837,566,570
2009-12-22$111.73$110.0015.3%4.4%11.8%0.0%16.8%4.5%2.8%-341.8M319.2M-110.8M1.662.67N/AN/A280,120465,2342,758,2407,861,459
2009-12-23$111.95$110.0015.7%4.5%11.9%1.0%16.3%4.4%2.6%-180.9M-592.3M-112.5M1.302.39N/AN/A297,548386,2092,884,5927,989,673
2009-12-24$112.48$110.0015.7%4.5%11.9%1.1%16.0%3.9%2.4%99.3M-2.80B-109.7M1.723.23N/AN/A122,665210,6062,975,4588,038,918
2009-12-28$112.72$111.0015.3%4.4%10.1%0.0%16.9%4.1%2.3%49.2M-2.90B-105.0M1.823.01N/AN/A216,273394,5162,980,0048,116,008
2009-12-29$112.56$111.0015.3%4.4%10.1%0.2%16.5%3.7%2.4%118.8M-2.79B-105.9M1.892.50N/AN/A186,456353,2523,020,8048,188,467
2009-12-30$112.52$111.0013.8%4.4%9.2%0.0%16.3%3.7%2.5%215.5M-3.27B-105.9M1.142.66N/AN/A275,445313,6093,077,2888,247,197
2009-12-31$111.44$111.0017.3%5.0%9.9%8.6%17.6%4.5%2.2%-223.1M607.2M-109.3M1.592.70N/AN/A313,207498,4373,120,3438,325,391