SPY Options History — August 2011

In August 2011, SPY traded between $112.26 and $128.78. ATM implied volatility averaged 34.7%, placing in the 50.4% IV rank vs the trailing year. The 30-day expected move averaged 8.8%. IV traded below realized volatility by 4.1% (HV 20d: 38.8%). Max pain ranged from $125.00 to $132.00. Net GEX was positive for 0 of 23 trading days. Term structure was in contango for 0 of 23 days. Put/call ratio averaged 1.91.

Notable Days

  • 2011-08-08: Highest Volume — 8,705,664 contracts
  • 2011-08-08: Largest IV spike — 99.6% change
  • 2011-08-02: Highest IV Rank — 100.0%
  • 2011-08-08: Largest Expected Move — 11.6%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$118.78$112.26$128.78$128.78$122.22
Max Pain$127.48$125.00$132.00$132.00$126.00
ATM IV34.7%26.6%73.6%27.8%28.0%
Expected Move8.8%6.1%11.6%6.3%8.0%
HV 20d38.8%14.5%49.7%14.5%49.0%
HV 60d25.9%14.5%30.9%14.5%30.8%
IV Rank50.4%24.8%100.0%87.2%26.9%
IV Percentile97.1%92.1%100.0%99.2%92.1%
Term Structure-1.9%-5.1%-0.2%-2.1%-1.1%
VWIV32.6%21.9%39.6%23.5%30.2%
Skew 25d11.6%5.9%16.1%6.7%10.4%
Skew 10d22.2%10.7%30.1%12.6%20.0%
Call IV 25d25.6%18.7%32.7%19.5%23.4%
Put IV 25d37.2%24.6%48.8%26.1%33.8%
Bid-Ask Spread %9.763.8138.4312.256.14
Gamma HHI0.050.040.180.050.04
Net GEX-3.70B-5.59B-2.35B-4.63B-2.35B
Net DEX75.33B28.63B122.25B41.71B28.63B
Net VEX-305.8M-325.4M-265.3M-299.2M-325.4M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.911.332.541.971.89
Total Volume4,619,175.7832,471,4248,705,6644,022,3853,366,493
Total OI25,821,685.04320,632,48830,751,39320,632,48825,842,233

Daily Data (23 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2011-08-01$128.78$132.0027.8%6.3%14.5%87.2%23.5%6.7%-2.1%-4.63B41.71B-299.2M1.9712.25N/AN/A1,353,1572,669,2285,611,12615,021,362
2011-08-02$125.49$132.0030.6%6.9%16.8%100.0%23.1%6.8%-2.1%-5.43B64.88B-294.9M1.977.20N/AN/A1,559,3583,076,9625,904,93215,524,509
2011-08-03$126.17$132.0027.0%6.1%17.0%81.5%21.9%5.9%-0.2%-5.59B60.52B-302.2M1.874.50N/AN/A2,116,1853,951,1366,241,01115,991,644
2011-08-04$120.26$131.0039.1%9.4%22.6%100.0%30.4%10.4%-5.1%-4.70B91.55B-296.4M1.906.65N/AN/A2,697,3635,133,2676,608,94616,395,377
2011-08-05$120.08$130.0036.9%8.0%22.7%92.1%29.2%10.5%-0.7%-4.67B95.54B-310.6M1.7512.48N/AN/A2,664,9254,655,9747,579,70117,253,103
2011-08-08$112.26$130.0073.6%11.6%31.3%100.0%38.5%16.1%-3.0%-3.27B122.25B-265.3M1.9012.53N/AN/A3,006,0425,699,6227,335,07717,539,596
2011-08-09$117.48$128.0042.1%8.8%36.7%49.6%32.5%12.3%-1.3%-4.23B98.20B-304.6M2.109.18N/AN/A2,083,1694,368,0818,533,06118,324,535
2011-08-10$112.29$128.0049.9%10.8%39.1%62.1%37.9%14.4%-2.4%-3.68B119.21B-289.4M2.0410.60N/AN/A2,013,1754,107,6939,094,42619,297,345
2011-08-11$117.33$127.0034.1%9.8%43.2%36.7%36.6%13.5%-2.1%-3.56B90.96B-324.0M1.457.39N/AN/A2,122,0013,080,0389,504,91319,338,684
2011-08-12$118.12$127.0031.8%9.1%43.2%33.1%32.8%11.6%-1.5%-3.65B85.73B-323.0M1.3316.41N/AN/A1,750,7662,329,9359,719,15019,764,485
2011-08-15$120.62$127.0027.4%7.9%44.2%26.1%29.9%10.0%-5.0%-3.71B73.90B-310.7M1.7038.43N/AN/A1,242,2142,110,3749,445,62719,446,568
2011-08-16$119.59$126.0028.4%8.1%43.6%27.6%30.5%10.1%-0.9%-3.68B76.25B-311.3M1.806.12N/AN/A1,032,2101,855,7259,609,26519,667,632
2011-08-17$119.67$126.0026.6%7.6%43.6%24.8%29.0%9.8%-0.5%-4.07B78.34B-301.6M1.974.00N/AN/A1,186,3292,335,0569,688,92619,783,910
2011-08-18$114.51$126.0035.5%10.2%45.1%39.1%37.3%15.2%-1.7%-4.19B107.96B-294.4M2.197.11N/AN/A1,893,6094,149,0879,759,02720,117,416
2011-08-19$112.64$125.0037.5%10.7%45.1%42.1%39.6%15.8%-2.2%-5.09B118.83B-287.8M2.548.14N/AN/A1,605,3984,080,34210,117,57920,633,814
2011-08-22$112.73$125.0037.3%10.7%45.2%41.8%38.0%14.9%-1.7%-2.73B75.29B-286.4M1.874.91N/AN/A885,9091,654,2776,892,23415,472,848
2011-08-23$116.44$125.0032.4%9.3%47.5%34.0%35.5%12.7%-1.0%-2.76B61.31B-304.3M2.034.50N/AN/A966,5741,962,8587,137,04215,953,991
2011-08-24$118.08$125.0030.5%9.0%47.7%31.0%35.2%12.4%-1.2%-2.69B54.37B-315.2M2.253.81N/AN/A833,2021,877,5157,353,88716,419,794
2011-08-25$116.28$126.0035.1%9.8%47.8%38.4%38.3%14.0%-2.5%-2.86B61.94B-317.7M2.4715.25N/AN/A882,5352,178,2557,508,28916,945,626
2011-08-26$117.97$126.0030.5%8.7%48.4%31.0%34.6%12.6%-2.0%-2.51B52.97B-321.7M1.637.72N/AN/A1,785,7722,912,0487,759,39517,593,974
2011-08-29$121.36$126.0028.3%8.1%49.7%27.5%32.7%11.3%-1.6%-2.51B35.80B-322.7M1.604.77N/AN/A950,9931,520,4317,619,96417,215,373
2011-08-30$121.68$126.0028.1%8.1%49.0%27.1%32.5%10.5%-1.5%-2.62B36.41B-323.6M1.8214.35N/AN/A900,3581,635,4027,854,43917,476,920
2011-08-31$122.22$126.0028.0%8.0%49.0%26.9%30.2%10.4%-1.1%-2.35B28.63B-325.4M1.896.14N/AN/A1,164,7812,201,7128,026,95417,815,279