SPY Options History — January 2010

In January 2010, SPY traded between $107.39 and $115.06. ATM implied volatility averaged 17.1%, placing in the 8.8% IV rank vs the trailing year. The 30-day expected move averaged 5.1%. IV traded above realized volatility by 4.5% (HV 20d: 12.5%). Max pain ranged from $112.00 to $114.00. Net GEX was positive for 8 of 19 trading days. Term structure was in contango for 18 of 19 days. Put/call ratio averaged 1.72.

Notable Days

  • 2010-01-22: Highest Volume — 2,359,099 contracts
  • 2010-01-22: Largest IV spike — 25.2% change
  • 2010-01-22: Highest IV Rank — 23.7%
  • 2010-01-22: Largest Expected Move — 6.6%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$112.41$107.39$115.06$113.33$107.39
Max Pain$112.95$112.00$114.00$112.00$112.00
ATM IV17.1%13.3%23.0%15.9%21.7%
Expected Move5.1%4.3%6.6%5.1%6.2%
HV 20d12.5%9.8%16.5%11.1%16.5%
HV 60d15.4%14.2%16.4%15.6%14.4%
IV Rank8.8%0.0%23.7%5.0%20.4%
IV Percentile12.3%0.0%48.0%2.4%37.7%
Term Structure1.5%-0.0%2.3%1.9%0.7%
VWIV18.5%15.5%23.5%18.4%21.4%
Skew 25d5.1%3.8%8.5%5.1%5.6%
Skew 10d10.8%7.6%18.1%11.1%11.7%
Call IV 25d15.9%13.4%19.5%15.6%18.9%
Put IV 25d21.0%17.6%28.1%20.6%24.5%
Bid-Ask Spread %2.491.604.462.432.77
Gamma HHI0.060.040.080.060.06
Net GEX-498.6M-1.68B428.2M33.1M-1.68B
Net DEX3.52B-6.81B21.48B-3.17B21.48B
Net VEX-123.6M-151.0M-100.8M-102.9M-150.8M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.721.092.471.151.47
Total Volume1,266,164.579586,3322,359,099774,9441,462,180
Total OI10,796,549.9479,046,17912,101,5589,695,27511,752,953

Daily Data (19 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2010-01-04$113.33$112.0015.9%5.1%11.1%5.0%18.4%5.1%1.9%33.1M-3.17B-102.9M1.152.43N/AN/A361,028413,9162,670,1297,025,146
2010-01-05$113.63$112.0014.5%4.8%11.0%1.8%17.3%4.7%2.1%150.8M-4.23B-103.0M1.092.42N/AN/A281,066305,2662,795,2627,161,859
2010-01-06$113.71$112.0014.9%4.8%10.9%2.6%18.2%4.5%1.8%201.4M-4.63B-100.8M1.902.55N/AN/A343,918653,6842,863,0467,233,474
2010-01-07$114.19$113.0015.5%4.8%9.9%4.1%17.2%4.4%1.8%245.9M-5.50B-106.4M1.862.26N/AN/A303,105564,0702,992,4077,593,981
2010-01-08$114.57$113.0013.3%4.6%9.9%0.0%16.4%3.8%1.8%360.8M-6.81B-105.1M1.452.19N/AN/A364,894530,8813,038,2387,770,954
2010-01-11$114.73$113.0014.6%4.7%9.8%3.0%17.5%3.9%1.7%312.3M-6.73B-105.1M2.112.04N/AN/A309,662654,5443,147,0667,929,929
2010-01-12$113.66$113.0014.6%4.7%10.6%3.2%17.4%3.9%1.9%-296.8M-2.39B-109.2M1.632.37N/AN/A439,840717,3303,132,8178,116,119
2010-01-13$114.62$113.0013.8%4.5%10.7%1.2%16.7%4.2%1.9%428.2M-6.51B-107.6M1.862.26N/AN/A469,580871,9133,248,5408,247,549
2010-01-14$114.93$113.0015.3%4.4%10.5%4.9%16.1%4.1%2.1%287.3M-6.32B-110.2M1.782.51N/AN/A459,969819,6663,294,1648,542,557
2010-01-15$113.64$113.0015.4%4.4%11.4%5.0%16.6%4.3%2.3%-548.2M-954.9M-117.2M1.352.63N/AN/A645,596869,4913,355,9228,745,636
2010-01-19$115.06$113.0015.0%4.3%11.0%4.0%15.5%4.2%2.2%-313.9M-993.1M-112.3M2.471.98N/AN/A397,117980,3142,497,7926,548,387
2010-01-20$113.89$114.0015.5%4.4%11.9%5.2%16.2%4.4%2.1%-645.9M3.34B-130.3M1.662.05N/AN/A417,745693,8762,624,3407,229,696
2010-01-21$111.70$114.0018.4%5.3%13.6%12.3%18.7%6.1%1.2%-996.9M9.60B-139.3M1.792.04N/AN/A611,1231,093,1422,688,6047,394,171
2010-01-22$109.21$114.0023.0%6.6%15.7%23.7%23.5%8.5%-0.0%-1.21B15.25B-149.6M2.254.46N/AN/A726,0541,633,0452,766,7467,609,766
2010-01-25$109.77$113.0021.1%6.1%15.8%19.1%22.5%7.9%0.3%-1.39B15.72B-151.0M1.793.30N/AN/A378,520679,2702,963,5068,120,596
2010-01-26$109.31$113.0021.5%6.2%15.7%19.9%21.5%6.1%0.7%-1.46B16.58B-149.7M2.262.80N/AN/A521,5521,181,1752,998,2658,204,453
2010-01-27$109.83$113.0019.7%5.7%15.8%15.6%20.7%5.6%1.2%-1.33B14.13B-147.5M1.631.60N/AN/A532,327868,5783,176,6168,073,995
2010-01-28$108.57$113.0020.3%5.8%16.2%17.1%20.3%5.5%1.2%-1.62B18.97B-150.1M1.142.60N/AN/A703,214798,4763,248,2048,331,564
2010-01-29$107.39$112.0021.7%6.2%16.5%20.4%21.4%5.6%0.7%-1.68B21.48B-150.8M1.472.77N/AN/A592,607869,5733,370,9828,381,971