SPY Options History — November 2012

In November 2012, SPY traded between $135.72 and $143.10. ATM implied volatility averaged 16.2%, placing in the 27.2% IV rank vs the trailing year. The 30-day expected move averaged 4.5%. IV traded above realized volatility by 0.5% (HV 20d: 15.7%). Max pain ranged from $136.00 to $143.00. Net GEX was positive for 1 of 21 trading days. Term structure was in contango for 2 of 21 days. Put/call ratio averaged 1.58.

Notable Days

  • 2012-11-16: Highest Volume — 4,274,233 contracts
  • 2012-11-05: Largest IV spike — 28.1% change
  • 2012-11-06: Highest IV Rank — 57.6%
  • 2012-11-14: Largest Expected Move — 5.1%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$139.80$135.72$143.10$142.91$142.16
Max Pain$140.85$136.00$143.00$143.00$140.00
ATM IV16.2%13.9%23.3%16.3%14.6%
Expected Move4.5%4.0%5.1%4.3%4.2%
HV 20d15.7%13.6%17.6%13.6%15.2%
HV 60d12.6%10.8%13.4%10.8%13.4%
IV Rank27.2%18.6%57.6%21.8%22.0%
IV Percentile49.7%27.4%87.7%56.3%38.1%
Term Structure-0.3%-0.7%0.6%-0.1%-0.3%
VWIV16.3%14.3%18.3%15.8%16.0%
Skew 25d4.1%3.2%5.1%3.2%4.6%
Skew 10d7.5%5.6%9.7%5.6%8.5%
Call IV 25d13.9%12.1%15.9%13.8%12.5%
Put IV 25d18.0%16.0%20.5%17.1%17.1%
Bid-Ask Spread %3.722.156.923.045.30
Gamma HHI0.060.040.100.050.04
Net GEX-2.96B-6.21B71.4M-1.38B-985.8M
Net DEX21.83B-5.91B57.24B4.91B-2.98B
Net VEX-244.7M-256.1M-231.7M-248.9M-240.1M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.581.172.021.441.89
Total Volume2,578,645.7141,441,7474,274,2332,252,1102,917,022
Total OI20,455,388.09518,363,15123,357,52219,051,98021,070,218

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2012-11-01$142.91$143.0016.3%4.3%13.6%21.8%15.8%3.2%-0.1%-1.38B4.91B-248.9M1.443.04N/AN/A922,5371,329,5736,455,08612,596,894
2012-11-02$141.20$143.0017.7%4.6%14.2%26.6%16.6%3.2%-0.0%-3.57B19.74B-255.6M1.562.20N/AN/A1,099,2081,715,1416,661,76912,954,887
2012-11-05$141.79$142.0022.7%4.7%13.9%54.4%17.4%5.0%-0.5%-2.93B15.12B-253.5M1.472.74N/AN/A785,6921,155,7756,622,90912,872,718
2012-11-06$143.10$142.0023.3%4.5%14.4%57.6%17.2%4.7%-0.4%-1.92B4.12B-256.1M1.422.22N/AN/A966,2931,375,5746,863,08813,232,704
2012-11-07$139.64$142.0017.2%4.9%16.6%31.3%18.0%5.1%-0.6%-5.40B35.79B-254.7M2.023.85N/AN/A1,375,4672,780,2447,182,13313,671,369
2012-11-08$138.17$142.0016.4%5.0%16.7%27.7%17.7%4.9%-0.5%-5.93B46.20B-249.6M1.933.09N/AN/A1,285,8632,483,0457,558,83013,777,793
2012-11-09$138.23$141.0017.0%5.0%16.7%30.4%18.3%4.9%-0.4%-6.21B44.70B-254.0M1.523.75N/AN/A1,412,1602,142,7537,889,28414,204,961
2012-11-12$138.47$141.0015.2%4.8%16.7%22.5%16.9%3.8%-0.4%-4.87B38.54B-242.8M1.642.72N/AN/A716,6121,174,1047,479,60013,850,467
2012-11-13$137.84$141.0015.1%4.6%16.7%24.0%16.4%3.8%-0.4%-5.08B43.30B-238.8M1.702.37N/AN/A795,7571,355,8067,712,18813,966,370
2012-11-14$135.98$141.0016.4%5.1%16.6%30.0%17.7%4.0%-0.6%-5.67B57.03B-237.9M1.632.65N/AN/A1,315,0022,149,2717,904,64614,133,358
2012-11-15$135.72$0.0017.0%4.8%15.9%32.7%17.2%4.0%0.4%-5.81B57.24B-240.4M1.725.22N/AN/A1,458,7082,502,8508,313,62414,208,911
2012-11-16$136.58$136.0015.5%4.4%16.0%26.0%16.4%3.7%0.6%-3.28B47.94B-242.9M1.586.92N/AN/A1,658,1082,616,1258,830,12414,527,398
2012-11-19$138.97$140.0014.5%4.2%17.6%21.2%15.3%3.6%-0.5%-1.55B15.17B-245.8M1.172.15N/AN/A943,5981,103,0916,511,63511,851,516
2012-11-20$139.28$140.0014.4%4.1%15.9%20.4%15.1%3.6%-0.7%-1.38B13.15B-243.8M1.502.16N/AN/A695,6321,043,2686,672,38212,101,804
2012-11-21$139.58$140.0014.2%4.1%15.8%19.8%15.5%3.7%-0.5%-1.20B11.58B-247.9M1.562.77N/AN/A562,820878,9276,807,44912,322,371
2012-11-23$141.16$140.0014.2%4.1%15.3%19.8%14.8%3.8%-0.3%-622.9M-787.4M-243.1M1.243.66N/AN/A698,038866,0976,897,54412,604,963
2012-11-26$141.02$141.0014.3%4.1%15.3%20.1%15.5%3.9%-0.3%-1.37B3.90B-236.7M1.554.61N/AN/A604,967939,4576,721,29812,477,193
2012-11-27$140.43$141.0014.9%4.3%15.4%23.0%15.0%4.3%-0.2%-1.88B8.37B-237.3M1.704.93N/AN/A571,796969,6866,870,21112,777,992
2012-11-28$141.36$141.0014.5%4.2%15.6%21.6%15.1%3.8%-0.3%-1.09B1.33B-237.5M1.426.13N/AN/A906,5521,288,8786,989,17812,966,971
2012-11-29$142.25$140.0013.9%4.0%15.7%18.6%14.3%3.9%-0.2%71.4M-5.91B-231.7M1.425.61N/AN/A1,071,0281,519,0357,206,52213,242,792
2012-11-30$142.16$140.0014.6%4.2%15.2%22.0%16.0%4.6%-0.3%-985.8M-2.98B-240.1M1.895.30N/AN/A1,008,8641,908,1587,352,11813,718,100