SPY Options History — March 2010

In March 2010, SPY traded between $111.89 and $117.41. ATM implied volatility averaged 15.0%, placing in the 4.4% IV rank vs the trailing year. The 30-day expected move averaged 4.3%. IV traded above realized volatility by 4.6% (HV 20d: 10.4%). Max pain ranged from $109.00 to $116.00. Net GEX was positive for 10 of 23 trading days. Term structure was in contango for 23 of 23 days. Put/call ratio averaged 1.72.

Notable Days

  • 2010-03-18: Highest Volume — 4,844,419 contracts
  • 2010-03-29: Largest IV spike — 22.4% change
  • 2010-03-30: Highest IV Rank — 7.9%
  • 2010-03-02: Largest Expected Move — 4.7%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$115.46$111.89$117.41$111.89$117.00
Max Pain$112.83$109.00$116.00$109.00$116.00
ATM IV15.0%12.8%16.5%16.4%13.7%
Expected Move4.3%3.9%4.7%4.7%3.9%
HV 20d10.4%7.9%17.4%17.4%8.2%
HV 60d14.7%14.2%15.0%14.9%14.2%
IV Rank4.4%0.0%7.9%7.6%3.4%
IV Percentile5.0%0.0%13.9%7.1%1.2%
Term Structure1.5%0.4%2.3%0.4%2.2%
VWIV15.7%14.1%18.5%18.5%14.2%
Skew 25d3.6%2.8%5.0%5.0%3.2%
Skew 10d7.1%4.9%10.5%10.5%6.3%
Call IV 25d13.6%12.5%14.8%14.6%12.5%
Put IV 25d17.2%15.3%19.6%19.6%15.7%
Bid-Ask Spread %2.951.535.875.871.65
Gamma HHI0.070.040.130.050.09
Net GEX-231.4M-1.63B1.13B-577.1M-1.49B
Net DEX-6.19B-20.28B2.60B-814.8M213.7M
Net VEX-149.5M-168.6M-135.2M-145.6M-165.7M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.720.222.871.901.68
Total Volume1,327,079.739683,7204,844,4191,186,3461,264,332
Total OI13,817,080.73910,547,96016,512,68013,155,34813,010,737

Daily Data (23 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2010-03-01$111.89$109.0016.4%4.7%17.4%7.6%18.5%5.0%0.4%-577.1M-814.8M-145.6M1.905.87N/AN/A408,400777,9463,956,0159,199,333
2010-03-02$112.20$109.0016.5%4.7%16.7%7.7%15.4%4.4%0.5%-551.7M-1.72B-148.3M1.555.27N/AN/A447,779693,1534,042,6519,449,434
2010-03-03$112.30$109.0016.2%4.7%16.2%7.1%17.2%4.3%0.5%-487.6M-2.07B-148.7M1.795.42N/AN/A319,813572,7204,183,6479,639,211
2010-03-04$112.64$109.0015.6%4.5%16.0%5.5%17.9%4.4%0.6%-358.9M-3.58B-148.4M2.255.09N/AN/A210,447473,2734,237,5389,690,520
2010-03-05$114.25$109.0014.9%4.3%11.2%3.9%14.3%3.6%0.5%115.9M-9.62B-142.4M1.383.91N/AN/A634,336877,2964,260,0479,838,975
2010-03-08$114.27$109.0015.1%4.3%11.2%4.3%16.6%3.3%0.7%114.1M-9.56B-141.5M1.903.35N/AN/A324,880616,6624,338,67110,031,484
2010-03-09$114.46$109.0015.2%4.4%10.5%4.4%15.5%3.0%0.7%279.3M-10.80B-137.1M1.603.17N/AN/A443,837709,3444,350,89710,111,664
2010-03-10$114.97$112.0015.3%4.6%10.0%4.7%17.3%4.1%1.1%326.7M-12.09B-141.0M1.312.82N/AN/A565,717738,9464,425,18810,381,216
2010-03-11$115.45$113.0016.1%4.6%9.8%6.8%16.7%3.8%1.6%558.3M-14.11B-141.7M1.631.74N/AN/A421,723686,1754,568,73410,640,452
2010-03-12$115.46$113.0015.8%4.5%9.6%6.0%16.2%3.8%1.7%438.6M-13.47B-145.2M1.672.67N/AN/A485,783813,3464,606,03610,832,856
2010-03-15$115.49$113.0015.9%4.6%9.5%6.4%16.8%3.9%1.8%170.2M-11.45B-145.0M1.673.04N/AN/A402,683674,0424,664,27911,087,682
2010-03-16$116.41$113.0015.3%4.4%8.6%4.7%16.6%3.7%1.8%485.4M-15.10B-144.4M1.222.14N/AN/A533,760648,5884,724,32711,317,317
2010-03-17$117.10$114.0014.2%4.1%8.6%2.2%15.0%2.8%1.9%1.13B-20.28B-135.2M1.542.56N/AN/A782,6961,203,9604,711,25611,429,085
2010-03-18$117.04$114.0014.0%4.0%8.6%1.5%14.7%3.0%1.9%883.4M-18.03B-140.3M0.222.46N/AN/A3,970,335874,0844,690,81011,821,870
2010-03-19$115.97$115.0014.6%4.2%9.6%3.0%15.3%3.8%2.0%-1.63B2.60B-150.6M2.322.78N/AN/A428,306993,9313,326,55112,174,901
2010-03-22$116.59$115.0013.7%3.9%9.6%0.9%14.8%3.3%2.3%-582.0M-436.7M-147.8M2.871.76N/AN/A274,842788,8022,799,1667,748,794
2010-03-23$117.41$115.0013.7%3.9%8.0%0.8%14.1%2.8%2.1%-462.3M-2.59B-150.2M1.572.39N/AN/A435,364681,4692,889,2258,129,305
2010-03-24$116.84$115.0014.3%4.1%8.2%2.3%15.0%3.1%2.1%-626.9M-330.9M-159.6M1.491.99N/AN/A403,773599,6103,039,4518,407,205
2010-03-25$116.65$116.0015.1%4.3%8.3%4.2%15.6%3.5%1.6%-761.6M1.02B-163.9M1.662.36N/AN/A524,298868,2503,151,3128,574,018
2010-03-26$116.58$116.0012.8%4.0%8.3%0.0%15.0%3.5%2.3%-803.2M1.48B-168.6M2.341.84N/AN/A338,514791,0963,299,9848,863,063
2010-03-29$117.32$116.0015.7%4.0%7.9%6.9%14.7%3.1%2.0%-779.9M-635.4M-163.9M1.991.53N/AN/A285,490568,2333,333,8429,125,183
2010-03-30$117.40$116.0016.1%4.0%7.9%7.9%14.5%3.1%2.0%-716.1M-1.04B-163.9M1.941.94N/AN/A327,753637,0473,403,6139,285,312
2010-03-31$117.00$116.0013.7%3.9%8.2%3.4%14.2%3.2%2.2%-1.49B213.7M-165.7M1.681.65N/AN/A471,401792,9313,500,3929,510,345