SPY Options History — July 2013

In July 2013, SPY traded between $161.12 and $169.49. ATM implied volatility averaged 12.6%, placing in the 18.2% IV rank vs the trailing year. The 30-day expected move averaged 3.6%. IV traded above realized volatility by 0.2% (HV 20d: 12.4%). Max pain ranged from $161.00 to $170.00. Net GEX was positive for 9 of 22 trading days. Term structure was in contango for 22 of 22 days. Put/call ratio averaged 1.82.

Notable Days

  • 2013-07-11: Highest Volume — 3,251,296 contracts
  • 2013-07-05: Largest IV drop — 12.3% change
  • 2013-07-03: Highest IV Rank — 31.7%
  • 2013-07-03: Largest Expected Move — 4.4%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$166.82$161.12$169.49$161.12$168.95
Max Pain$165.62$161.00$170.00$161.00$169.00
ATM IV12.6%11.1%15.2%15.1%11.8%
Expected Move3.6%3.2%4.4%4.3%3.4%
HV 20d12.4%6.8%17.0%17.0%6.8%
HV 60d12.9%11.8%14.2%14.2%11.8%
IV Rank18.2%10.9%31.7%31.2%14.3%
IV Percentile41.3%17.1%78.2%76.6%31.7%
Term Structure0.7%0.0%1.4%0.1%0.9%
VWIV13.2%11.6%17.1%16.1%12.9%
Skew 25d3.3%2.5%4.6%4.6%3.5%
Skew 10d6.3%4.6%8.8%8.6%7.0%
Call IV 25d11.1%9.8%13.0%13.0%10.3%
Put IV 25d14.4%12.7%17.6%17.6%13.8%
Bid-Ask Spread %5.592.6722.154.928.11
Gamma HHI0.050.040.080.040.05
Net GEX-422.6M-3.18B2.34B-2.90B-1.20B
Net DEX-23.57B-50.56B10.36B10.04B-21.28B
Net VEX-299.4M-339.1M-277.8M-335.9M-296.4M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.821.273.071.811.42
Total Volume1,911,391.8641,100,7363,251,2961,574,7762,340,819
Total OI19,966,298.09117,123,56523,022,02019,289,16918,851,417

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2013-07-01$161.12$161.0015.1%4.3%17.0%31.2%16.1%4.6%0.1%-2.90B10.04B-335.9M1.814.92N/AN/A561,1381,013,6387,212,38912,076,780
2013-07-02$161.17$161.0015.2%4.4%17.0%31.5%17.1%4.6%0.2%-3.16B10.36B-334.4M2.054.45N/AN/A593,1211,217,5007,319,59612,272,976
2013-07-03$161.47$161.0015.2%4.4%16.3%31.7%15.8%4.4%0.1%-3.18B8.78B-339.1M1.835.45N/AN/A501,730916,2627,427,24712,693,562
2013-07-05$163.23$161.0013.3%3.8%16.4%22.2%14.2%4.0%0.5%-393.5M-8.92B-317.9M1.524.95N/AN/A934,8111,420,8037,562,36212,802,565
2013-07-08$164.03$161.0013.1%3.8%16.1%20.9%14.0%3.5%0.3%-1.24B-13.06B-308.0M2.163.48N/AN/A620,9171,341,9847,288,57912,488,468
2013-07-09$165.04$162.0012.9%3.7%16.2%19.7%13.1%3.3%0.3%-278.7M-21.86B-298.6M1.734.89N/AN/A798,4811,379,1737,371,61612,838,279
2013-07-10$165.19$165.0012.8%3.7%15.9%19.2%13.0%3.2%0.2%-539.8M-22.83B-299.8M2.055.84N/AN/A669,0831,371,2797,503,10313,226,237
2013-07-11$167.44$0.0012.9%3.7%16.0%20.1%13.2%2.8%0.0%2.01B-42.57B-286.7M1.915.02N/AN/A1,117,5852,133,7117,598,29413,417,823
2013-07-12$167.53$167.0012.2%3.5%15.0%16.4%12.6%2.5%0.4%1.28B-40.62B-295.8M1.7122.15N/AN/A845,2321,447,8647,689,72314,189,907
2013-07-15$168.20$165.0012.6%3.6%14.7%18.5%13.1%2.8%1.3%1.07B-41.21B-287.2M1.732.67N/AN/A641,0741,111,0787,522,81413,623,225
2013-07-16$167.61$165.0012.8%3.7%14.5%19.5%13.7%3.2%1.2%151.9M-34.91B-295.2M1.852.67N/AN/A619,0091,146,8807,598,45613,962,682
2013-07-17$167.98$166.0012.4%3.5%14.4%17.2%13.0%3.0%1.3%467.8M-38.41B-293.3M1.702.82N/AN/A671,7631,143,9877,784,69114,361,904
2013-07-18$168.49$166.0012.4%3.5%13.4%17.3%12.7%2.9%0.5%1.32B-42.99B-286.1M1.275.08N/AN/A963,4291,226,0617,816,81714,686,335
2013-07-19$169.40$166.0011.5%3.3%9.6%12.5%11.8%2.6%0.5%2.34B-50.56B-282.3M1.343.48N/AN/A915,9291,227,5287,982,91615,039,104
2013-07-22$169.49$169.0011.1%3.2%9.1%10.9%12.4%2.7%1.4%533.3M-30.60B-277.8M1.784.56N/AN/A523,883932,8876,321,06910,802,496
2013-07-23$169.24$169.0011.4%3.3%7.6%12.4%12.3%3.0%1.2%197.3M-28.22B-282.2M2.355.56N/AN/A491,7281,156,5886,427,82911,007,593
2013-07-24$168.80$170.0011.6%3.3%7.6%13.0%11.9%3.2%1.3%-871.7M-23.29B-293.1M3.076.12N/AN/A516,6331,584,8216,480,21611,372,937
2013-07-25$168.80$169.0011.5%3.3%7.3%12.9%12.0%3.1%0.4%-1.86B-21.55B-299.9M1.915.53N/AN/A526,5141,006,6446,605,40012,135,127
2013-07-26$169.18$169.0011.3%3.2%7.2%11.7%11.6%3.1%0.5%-972.3M-24.52B-294.0M1.856.05N/AN/A742,5241,372,9916,682,24912,363,099
2013-07-29$168.70$168.0011.6%3.4%6.9%13.4%11.9%3.4%1.0%-1.10B-19.83B-290.6M1.474.08N/AN/A445,430655,3066,457,28711,814,341
2013-07-30$168.89$168.0011.7%3.4%6.8%13.8%12.3%3.7%0.9%-987.6M-20.59B-292.9M1.615.03N/AN/A461,567741,2366,619,30911,959,739
2013-07-31$168.95$169.0011.8%3.4%6.8%14.3%12.9%3.5%0.9%-1.20B-21.28B-296.4M1.428.11N/AN/A967,2561,373,5636,697,30012,154,117