SPY Options History — August 2012

In August 2012, SPY traded between $136.80 and $142.16. ATM implied volatility averaged 14.0%, placing in the 7.3% IV rank vs the trailing year. The 30-day expected move averaged 4.1%. IV traded above realized volatility by 1.4% (HV 20d: 12.6%). Max pain ranged from $135.00 to $140.00. Net GEX was positive for 11 of 23 trading days. Term structure was in contango for 23 of 23 days. Put/call ratio averaged 1.69.

Notable Days

  • 2012-08-02: Highest Volume — 2,903,743 contracts
  • 2012-08-02: Largest IV drop — 46.6% change
  • 2012-08-01: Highest IV Rank — 27.5%
  • 2012-08-01: Largest Expected Move — 4.9%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$140.71$136.80$142.16$137.66$141.16
Max Pain$137.87$135.00$140.00$136.00$140.00
ATM IV14.0%10.2%28.5%28.5%15.5%
Expected Move4.1%3.5%4.9%4.9%4.4%
HV 20d12.6%6.2%15.9%14.8%6.2%
HV 60d15.8%13.9%16.9%16.4%13.9%
IV Rank7.3%0.0%27.5%27.5%12.7%
IV Percentile16.8%0.0%78.6%78.6%33.7%
Term Structure0.5%0.1%2.3%0.2%0.4%
VWIV15.3%13.3%17.7%17.7%16.0%
Skew 25d4.1%2.1%5.7%3.0%5.4%
Skew 10d7.9%4.2%10.9%6.3%10.6%
Call IV 25d12.7%11.3%15.9%15.9%13.1%
Put IV 25d16.8%13.9%19.3%18.9%18.4%
Bid-Ask Spread %2.541.635.892.445.89
Gamma HHI0.060.040.110.040.04
Net GEX-374.5M-3.04B1.70B-1.67B-1.16B
Net DEX-11.15B-28.69B7.18B-70.1M-867.4M
Net VEX-266.9M-302.4M-243.0M-274.7M-302.0M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.691.132.371.401.13
Total Volume1,810,891.304984,0722,903,7432,099,1392,479,237
Total OI19,460,852.65216,343,15321,935,84818,776,32320,351,139

Daily Data (23 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2012-08-01$137.66$136.0028.5%4.9%14.8%27.5%17.7%3.0%0.2%-1.67B-70.1M-274.7M1.402.44N/AN/A874,4541,224,6855,985,14412,791,179
2012-08-02$136.80$136.0015.3%4.2%14.8%6.2%15.4%3.1%1.5%-3.04B6.65B-270.0M1.621.81N/AN/A1,109,6751,794,0686,265,39513,081,582
2012-08-03$139.52$136.0012.3%3.5%15.9%1.4%13.3%2.1%2.3%1.68B-17.64B-250.9M1.732.15N/AN/A1,052,3931,816,4406,418,23113,154,644
2012-08-06$139.61$135.0014.0%4.3%15.9%4.1%16.2%4.1%0.1%253.6M-15.36B-247.5M1.832.39N/AN/A498,911911,0696,170,08212,887,107
2012-08-07$140.31$136.0014.8%4.4%15.5%5.4%15.8%4.1%0.1%555.5M-19.29B-247.8M1.702.50N/AN/A626,0641,066,8436,274,38613,153,620
2012-08-08$140.42$136.0012.1%4.2%15.5%1.7%15.7%3.9%0.1%300.5M-19.06B-249.8M1.962.40N/AN/A470,713921,5196,437,46013,470,814
2012-08-09$140.63$136.0010.9%4.0%15.2%0.0%15.1%3.9%0.2%715.9M-21.46B-244.4M1.991.97N/AN/A526,3441,045,7646,509,25113,663,291
2012-08-10$140.83$136.0010.2%4.0%14.2%0.0%14.7%3.9%0.2%1.41B-23.02B-244.9M1.622.41N/AN/A691,9201,122,8546,637,30413,958,293
2012-08-13$140.74$137.0010.9%3.9%14.1%1.8%15.1%3.7%0.2%703.8M-20.56B-243.0M2.031.63N/AN/A420,043854,6446,490,96313,784,665
2012-08-14$140.77$137.0011.1%4.1%13.9%2.1%15.1%3.9%0.2%513.8M-19.30B-246.7M1.242.45N/AN/A710,410880,9796,551,80913,989,031
2012-08-15$141.00$137.0010.5%4.1%13.8%0.7%15.1%3.7%0.3%799.7M-21.30B-252.5M1.822.25N/AN/A473,776860,0696,750,69314,273,799
2012-08-16$141.94$138.0013.7%3.9%13.9%8.3%14.9%3.9%0.4%1.70B-27.72B-250.2M1.403.14N/AN/A992,4371,389,7326,784,05214,486,296
2012-08-17$142.13$138.0012.9%3.7%13.2%6.5%13.9%3.8%0.6%875.5M-28.69B-252.8M1.462.29N/AN/A929,1481,353,0146,965,53614,970,312
2012-08-20$142.16$139.0012.8%3.7%12.4%6.2%13.9%3.8%0.5%-277.6M-11.22B-256.3M2.132.07N/AN/A473,1241,006,0165,410,88310,932,270
2012-08-21$141.85$139.0013.3%3.8%11.6%7.4%14.4%4.2%0.5%-763.5M-8.65B-267.3M2.032.29N/AN/A625,2341,271,5905,545,25511,377,888
2012-08-22$141.85$139.0013.3%3.8%11.6%7.4%14.5%4.1%0.5%-1.06B-7.21B-276.1M1.891.92N/AN/A642,9181,212,4025,754,75711,881,377
2012-08-23$140.64$140.0013.9%4.0%11.3%9.0%14.8%4.3%0.5%-2.25B2.75B-287.7M1.472.02N/AN/A809,3141,187,9625,961,32312,310,175
2012-08-24$141.67$140.0013.4%3.8%9.4%7.8%14.4%4.1%0.5%-758.4M-4.67B-288.0M1.242.47N/AN/A900,4181,114,4216,161,96712,680,319
2012-08-27$141.47$140.0014.8%4.3%9.3%11.1%15.3%5.2%0.4%-1.28B-3.77B-289.6M1.693.37N/AN/A484,256818,6646,134,15112,612,185
2012-08-28$141.40$140.0015.3%4.4%9.0%12.2%16.8%5.2%0.3%-1.44B-1.75B-296.5M1.944.02N/AN/A334,836649,2366,250,30313,004,418
2012-08-29$141.39$140.0015.7%4.5%9.0%13.2%17.7%5.7%0.3%-1.66B-1.39B-297.0M2.372.48N/AN/A297,445704,3906,336,06713,180,469
2012-08-30$140.35$140.0016.3%4.7%9.1%14.6%16.2%5.7%0.2%-2.76B7.18B-302.4M1.302.07N/AN/A880,5861,140,4836,417,41713,392,309
2012-08-31$141.16$140.0015.5%4.4%6.2%12.7%16.0%5.4%0.4%-1.16B-867.4M-302.0M1.135.89N/AN/A1,162,1541,317,0836,719,80113,631,338