SPY Options History — November 2011

In November 2011, SPY traded between $116.34 and $127.88. ATM implied volatility averaged 29.0%, placing in the 28.6% IV rank vs the trailing year. The 30-day expected move averaged 8.1%. IV traded above realized volatility by 0.0% (HV 20d: 29.0%). Max pain ranged from $120.00 to $125.00. Net GEX was positive for 0 of 21 trading days. Term structure was in contango for 2 of 21 days. Put/call ratio averaged 1.81.

Notable Days

  • 2011-11-01: Highest Volume — 5,132,998 contracts
  • 2011-11-09: Largest IV spike — 44.2% change
  • 2011-11-01: Highest IV Rank — 44.3%
  • 2011-11-23: Largest Expected Move — 9.1%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$122.96$116.34$127.88$122.00$124.99
Max Pain$123.43$120.00$125.00$124.00$120.00
ATM IV29.0%22.9%38.8%38.8%24.3%
Expected Move8.1%6.8%9.1%9.0%7.0%
HV 20d29.0%26.0%30.7%28.9%29.6%
HV 60d29.6%28.2%33.4%33.4%29.7%
IV Rank28.6%18.9%44.3%44.3%21.1%
IV Percentile80.9%67.1%96.8%96.8%67.1%
Term Structure-0.5%-2.4%0.4%-2.4%-0.0%
VWIV30.2%27.0%34.4%32.4%27.0%
Skew 25d9.6%7.8%12.1%10.6%7.8%
Skew 10d18.6%14.3%23.7%22.8%14.3%
Call IV 25d24.1%20.2%27.4%25.6%21.1%
Put IV 25d33.6%28.9%37.9%36.2%28.9%
Bid-Ask Spread %4.152.598.003.645.97
Gamma HHI0.060.030.370.040.04
Net GEX-2.08B-5.52B-399.4M-2.16B-629.3M
Net DEX18.16B-8.46B48.24B22.18B1.79B
Net VEX-255.8M-280.2M-235.2M-276.6M-235.2M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.811.412.561.861.51
Total Volume2,913,518.3811,661,4705,132,9985,132,9983,584,836
Total OI22,847,285.38119,095,45426,555,94421,850,00821,088,991

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2011-11-01$122.00$124.0038.8%9.0%28.9%44.3%32.4%10.6%-2.4%-2.16B22.18B-276.6M1.863.64N/AN/A1,793,4603,339,5386,610,70115,239,307
2011-11-02$123.99$124.0033.2%8.1%28.7%35.4%30.1%9.4%-0.5%-1.94B16.45B-280.2M1.812.85N/AN/A693,4051,256,0766,914,27415,884,507
2011-11-03$126.25$124.0027.1%7.4%28.7%25.5%27.8%8.3%0.4%-1.20B2.44B-271.3M1.663.96N/AN/A1,002,8691,667,6047,004,33615,979,344
2011-11-04$125.48$124.0026.2%7.6%28.7%24.1%28.7%10.0%-0.3%-1.42B5.38B-266.3M1.654.93N/AN/A1,086,3611,790,2197,082,44516,295,046
2011-11-07$126.26$124.0027.2%7.5%26.6%25.8%29.4%9.8%-0.4%-1.12B2.18B-258.5M1.903.07N/AN/A646,4741,231,2646,838,03316,039,271
2011-11-08$127.88$124.0022.9%6.8%26.9%18.9%28.1%8.8%0.0%-399.4M-8.46B-250.2M2.332.85N/AN/A891,0232,071,6686,979,60416,379,059
2011-11-09$123.16$124.0033.1%8.9%30.4%35.1%34.4%12.1%-0.8%-2.41B23.39B-274.8M2.563.72N/AN/A1,154,2182,956,2367,067,41216,646,980
2011-11-10$124.32$124.0028.4%8.2%30.5%27.7%31.3%11.3%-0.4%-2.16B15.69B-269.7M2.053.40N/AN/A856,9961,752,8117,365,06817,196,784
2011-11-11$126.66$124.0025.6%7.3%30.7%23.2%27.5%9.7%-0.2%-847.9M-1.69B-262.0M1.593.71N/AN/A1,070,8251,698,9597,395,89517,351,408
2011-11-14$125.46$124.0027.9%8.0%30.0%26.7%30.4%10.3%-0.4%-1.37B4.69B-254.5M2.332.81N/AN/A612,7391,425,1597,298,27317,183,860
2011-11-15$126.08$124.0027.2%7.8%29.3%25.7%30.2%10.2%-0.5%-1.40B3.49B-253.3M2.023.32N/AN/A838,4271,693,0027,347,08417,560,779
2011-11-16$124.08$124.0029.2%8.4%29.6%28.9%30.9%10.6%-0.7%-3.07B18.52B-260.1M2.073.30N/AN/A976,3392,018,7967,517,05018,160,663
2011-11-17$122.11$125.0030.4%8.7%30.2%30.8%31.7%10.5%-0.6%-3.63B29.68B-256.5M1.804.61N/AN/A1,724,7113,096,1657,658,17518,245,639
2011-11-18$121.98$124.0029.0%8.3%29.4%28.6%30.0%9.5%-0.6%-5.52B28.31B-255.9M1.644.66N/AN/A1,294,6412,118,3837,982,49218,573,452
2011-11-21$119.66$124.0030.5%8.7%29.6%30.9%31.8%8.8%-0.8%-2.10B32.33B-247.8M1.784.08N/AN/A1,189,6632,112,7935,961,77513,133,679
2011-11-22$119.19$124.0029.9%8.6%28.9%30.0%30.1%8.1%-0.7%-2.41B35.20B-243.9M1.412.59N/AN/A984,3071,382,9636,215,03913,457,772
2011-11-23$116.56$124.0031.2%9.1%29.5%32.2%32.0%9.0%-0.7%-2.78B44.95B-241.6M1.434.73N/AN/A1,484,4032,128,1726,438,65913,717,777
2011-11-25$116.34$121.0030.9%8.8%26.0%31.5%31.1%9.2%-0.2%-3.15B48.24B-238.9M1.498.00N/AN/A667,346994,1246,775,07514,225,738
2011-11-28$119.71$121.0028.5%8.2%28.5%27.8%29.0%8.7%-0.2%-2.03B29.51B-239.0M1.544.66N/AN/A764,8741,175,8666,418,44213,902,502
2011-11-29$120.05$121.0027.6%7.9%27.5%26.4%30.4%8.3%-0.0%-1.94B27.03B-236.0M1.636.32N/AN/A744,0721,212,0996,596,65114,063,952
2011-11-30$124.99$120.0024.3%7.0%29.6%21.1%27.0%7.8%-0.0%-629.3M1.79B-235.2M1.515.97N/AN/A1,425,9152,158,9216,771,18314,317,808