SPY Options History — November 2010

In November 2010, SPY traded between $118.16 and $122.72. ATM implied volatility averaged 18.5%, placing in the 22.4% IV rank vs the trailing year. The 30-day expected move averaged 5.2%. IV traded above realized volatility by 6.6% (HV 20d: 11.9%). Max pain ranged from $115.00 to $119.00. Net GEX was positive for 3 of 21 trading days. Term structure was in contango for 12 of 21 days. Put/call ratio averaged 1.68.

Notable Days

  • 2010-11-12: Highest Volume — 3,060,713 contracts
  • 2010-11-04: Largest IV drop — 24.2% change
  • 2010-11-02: Highest IV Rank — 54.0%
  • 2010-11-30: Largest Expected Move — 6.5%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$120.14$118.16$122.72$118.53$118.49
Max Pain$117.29$115.00$119.00$117.00$118.00
ATM IV18.5%13.7%28.1%24.0%20.5%
Expected Move5.2%4.6%6.5%5.5%6.5%
HV 20d11.9%8.5%15.3%10.6%15.3%
HV 60d14.1%12.8%15.2%15.1%12.8%
IV Rank22.4%6.6%54.0%40.3%29.0%
IV Percentile42.6%6.0%93.3%83.3%62.7%
Term Structure0.0%-1.3%1.2%0.8%0.1%
VWIV19.3%17.1%22.9%19.9%22.9%
Skew 25d4.9%2.8%6.4%4.8%5.9%
Skew 10d10.4%4.7%15.5%9.6%15.5%
Call IV 25d16.0%14.4%18.2%17.1%18.2%
Put IV 25d20.9%17.8%24.1%22.0%24.1%
Bid-Ask Spread %2.091.263.892.212.07
Gamma HHI0.060.040.090.040.05
Net GEX-784.9M-2.54B814.1M-1.04B-1.45B
Net DEX-8.80B-26.80B6.44B-3.59B3.92B
Net VEX-175.7M-192.4M-146.6M-192.4M-176.5M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.681.242.051.721.56
Total Volume1,842,990.905871,4633,060,7131,901,0461,413,724
Total OI17,104,36712,751,85819,408,85816,168,42515,997,082

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2010-11-01$118.53$117.0024.0%5.5%10.6%40.3%19.9%4.8%0.8%-1.04B-3.59B-192.4M1.722.21N/AN/A698,9951,202,0515,026,83311,141,592
2010-11-02$119.47$117.0028.1%5.7%8.5%54.0%20.3%4.6%0.3%-720.8M-8.53B-190.3M1.562.16N/AN/A675,4091,056,3705,180,05511,341,757
2010-11-03$119.95$117.0022.0%4.9%8.6%34.0%18.0%3.7%1.2%-471.2M-12.08B-183.9M1.682.17N/AN/A870,6431,462,0775,374,94811,622,836
2010-11-04$122.26$118.0016.7%4.6%10.5%16.6%17.3%2.8%1.1%728.0M-24.28B-169.6M1.352.23N/AN/A1,121,3511,513,4325,546,00611,931,130
2010-11-05$122.72$115.0013.7%4.8%10.4%6.6%18.2%3.9%-0.0%814.1M-26.80B-165.9M1.243.89N/AN/A971,5631,208,7075,703,23812,105,990
2010-11-08$122.49$116.0016.3%4.9%10.5%15.3%17.9%3.8%0.1%371.9M-23.08B-165.6M1.602.10N/AN/A517,266828,0575,545,80311,765,060
2010-11-09$121.61$117.0016.3%4.9%11.1%15.3%18.0%4.0%0.0%-234.2M-17.23B-173.9M1.652.17N/AN/A681,3921,127,1335,631,15112,031,688
2010-11-10$122.10$117.0014.1%4.7%10.9%7.9%18.1%4.0%0.2%-201.4M-19.81B-172.8M2.022.17N/AN/A597,3181,209,2595,737,73012,295,145
2010-11-11$121.64$117.0016.5%4.7%10.9%15.9%17.8%4.6%0.2%-804.5M-16.01B-180.5M1.581.76N/AN/A645,0051,018,7745,841,06012,476,313
2010-11-12$120.20$117.0018.4%5.3%11.9%22.1%19.1%5.2%-0.0%-2.25B-7.45B-182.3M1.732.25N/AN/A1,120,1091,940,6045,907,06412,527,478
2010-11-15$120.03$117.0018.4%5.3%11.7%22.2%19.0%5.0%-0.1%-1.06B-7.84B-184.2M2.051.76N/AN/A494,0041,011,6135,811,90312,552,930
2010-11-16$118.16$117.0019.9%5.7%11.8%27.1%21.3%6.2%-0.4%-2.54B6.44B-188.5M1.712.12N/AN/A1,093,5791,867,2775,872,47812,671,007
2010-11-17$118.22$117.0019.8%5.7%11.3%26.6%21.6%6.4%-0.4%-1.92B3.68B-187.9M1.972.14N/AN/A594,9411,173,1506,155,94412,791,755
2010-11-18$119.96$117.0017.0%4.9%12.4%17.5%18.3%5.6%0.0%-468.7M-11.53B-178.0M1.892.19N/AN/A734,4611,386,6086,205,34412,934,659
2010-11-19$120.29$118.0016.3%4.7%12.4%15.3%17.1%4.6%-0.0%-246.4M-13.46B-173.1M1.272.11N/AN/A897,5551,139,3226,248,91513,159,943
2010-11-22$120.19$118.0016.7%4.8%12.4%16.5%17.7%5.4%-0.7%-679.1M-6.25B-155.6M1.351.41N/AN/A600,546808,2104,841,7269,947,603
2010-11-23$118.45$118.0019.1%5.5%13.5%24.3%19.8%5.3%-1.3%-1.35B3.75B-174.6M1.881.72N/AN/A590,8241,110,9804,973,84810,157,289
2010-11-24$120.20$118.0017.1%5.0%14.4%17.8%18.6%5.0%-0.7%-671.5M-6.36B-165.3M1.751.81N/AN/A524,543917,2555,092,08310,455,687
2010-11-26$118.80$118.0018.8%5.9%15.1%23.5%22.0%6.0%0.3%-1.68B2.72B-181.1M1.702.27N/AN/A322,386549,0775,188,86110,647,915
2010-11-29$119.16$119.0018.6%5.9%15.1%22.9%21.5%5.9%0.3%-616.3M-935.9M-146.6M2.011.26N/AN/A334,597672,6424,097,8088,654,050
2010-11-30$118.49$118.0020.5%6.5%15.3%29.0%22.9%5.9%0.1%-1.45B3.92B-176.5M1.562.07N/AN/A552,302861,4225,220,92910,776,153