SPY Options History — April 2014

In April 2014, SPY traded between $181.74 and $188.84. ATM implied volatility averaged 12.3%, placing in the 26.5% IV rank vs the trailing year. The 30-day expected move averaged 4.3%. IV traded below realized volatility by 0.3% (HV 20d: 12.6%). Max pain ranged from $185.00 to $186.00. Net GEX was positive for 3 of 21 trading days. Term structure was in contango for 14 of 21 days. Put/call ratio averaged 1.91.

Notable Days

  • 2014-04-11: Highest Volume — 4,285,249 contracts
  • 2014-04-10: Largest IV spike — 18.1% change
  • 2014-04-11: Highest IV Rank — 57.3%
  • 2014-04-11: Largest Expected Move — 4.5%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$186.38$181.74$188.84$188.30$188.46
Max Pain$185.62$185.00$186.00$186.00$185.00
ATM IV12.3%11.1%15.3%11.1%11.1%
Expected Move4.3%4.2%4.5%4.3%4.2%
HV 20d12.6%10.0%14.0%10.0%12.6%
HV 60d12.8%11.2%13.6%12.4%11.2%
IV Rank26.5%14.4%57.3%14.4%14.5%
IV Percentile51.1%24.2%91.7%25.0%24.2%
Term Structure0.1%-0.6%0.5%0.1%0.3%
VWIV17.1%15.2%19.8%17.2%17.8%
Skew 25d4.2%3.5%5.3%3.8%4.0%
Skew 10d7.6%6.7%9.3%7.5%7.2%
Call IV 25d10.5%9.5%13.0%9.7%9.5%
Put IV 25d14.7%13.5%18.4%13.5%13.5%
Bid-Ask Spread %3.783.044.573.833.91
Gamma HHI0.050.040.070.060.05
Net GEX-2.74B-7.29B710.4M80.8M-706.1M
Net DEX1.74B-18.00B44.60B-14.68B-11.73B
Net VEX-267.6M-283.6M-251.2M-251.2M-265.9M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.911.262.691.871.96
Total Volume2,305,140.0951,099,5744,285,2491,689,5291,544,419
Total OI14,947,351.52413,198,97917,691,59513,297,75514,957,340

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2014-04-01$188.30$186.0011.1%4.3%10.0%14.4%17.2%3.8%0.1%80.8M-14.68B-251.2M1.873.83N/AN/A587,9291,101,6004,340,4438,957,312
2014-04-02$188.80$186.0011.2%4.2%10.1%15.0%17.5%3.7%0.1%710.4M-18.00B-254.1M1.263.55N/AN/A693,127875,0744,479,6769,403,071
2014-04-03$188.84$186.0011.5%4.2%10.1%18.5%15.2%3.5%0.1%297.9M-17.60B-255.2M1.323.58N/AN/A775,8881,021,2284,650,5469,636,343
2014-04-04$186.53$186.0012.1%4.3%11.0%24.6%17.3%4.1%0.1%-3.57B4.17B-267.7M1.904.49N/AN/A1,447,1782,744,2194,937,5559,952,462
2014-04-07$184.31$186.0013.6%4.5%11.7%40.2%16.9%4.7%-0.0%-5.39B20.79B-274.2M2.403.79N/AN/A769,2271,847,7794,658,1469,787,376
2014-04-08$185.03$186.0013.1%4.4%11.7%34.9%19.8%4.6%-0.1%-5.10B14.50B-274.2M2.003.34N/AN/A617,4091,235,1594,823,28910,089,446
2014-04-09$187.01$186.0011.9%4.3%12.3%22.2%15.2%4.1%-0.0%-2.28B-2.98B-265.9M1.463.76N/AN/A947,4201,384,0974,960,05410,301,615
2014-04-10$183.26$186.0014.0%4.5%13.7%44.5%16.0%4.8%-0.0%-7.14B30.82B-279.6M2.133.82N/AN/A1,103,2232,353,0005,172,99210,636,769
2014-04-11$181.74$186.0015.3%4.5%13.9%57.3%16.4%5.3%-0.6%-7.29B44.60B-283.6M2.384.51N/AN/A1,266,6743,018,5755,437,46610,935,877
2014-04-14$183.02$186.0014.2%4.5%13.7%46.4%15.4%4.8%0.3%-6.27B27.93B-278.0M1.753.32N/AN/A895,2971,570,1785,208,54810,808,647
2014-04-15$184.56$186.0013.3%4.4%13.8%36.3%17.4%4.7%0.5%-4.92B13.77B-280.1M2.113.87N/AN/A1,046,3802,204,8375,519,18611,122,925
2014-04-16$185.85$186.0012.2%4.3%14.0%25.7%16.5%4.2%0.4%-2.62B-949.4M-273.0M1.914.57N/AN/A979,1151,873,6545,683,29211,358,001
2014-04-17$186.37$186.0011.7%4.4%13.7%19.8%15.7%3.9%0.1%-1.73B-6.01B-271.9M1.633.57N/AN/A1,064,6031,739,0635,864,77611,826,819
2014-04-21$186.99$185.0011.7%4.3%13.4%19.7%16.2%4.1%-0.0%-1.49B-5.82B-260.0M1.643.30N/AN/A417,194682,3804,258,7268,940,253
2014-04-22$187.94$185.0011.4%4.2%13.4%16.7%17.6%3.9%0.0%-309.5M-12.49B-257.2M1.943.04N/AN/A620,8021,207,3634,447,0819,126,383
2014-04-23$187.73$185.0011.6%4.2%13.3%19.1%19.3%3.6%0.1%-1.03B-10.28B-263.0M2.694.54N/AN/A308,785830,7214,565,7489,375,778
2014-04-24$187.82$185.0011.6%4.3%12.9%18.7%15.4%3.8%0.0%-1.34B-10.36B-263.9M1.683.76N/AN/A647,0231,087,2974,644,3209,613,116
2014-04-25$186.57$185.0012.2%4.3%13.1%25.5%19.2%4.0%-0.0%-3.91B1.17B-273.3M2.154.13N/AN/A796,9801,711,0824,773,4789,955,207
2014-04-28$187.14$185.0011.9%4.3%13.0%22.6%17.4%4.1%0.3%-1.99B-3.42B-263.6M1.963.40N/AN/A672,0211,315,2004,537,9399,602,010
2014-04-29$187.70$185.0011.7%4.2%12.9%20.1%19.7%4.0%0.3%-1.46B-6.86B-264.3M2.053.41N/AN/A460,565944,1774,657,1339,887,238
2014-04-30$188.46$185.0011.1%4.2%12.6%14.5%17.8%4.0%0.3%-706.1M-11.73B-265.9M1.963.91N/AN/A522,5381,021,8814,753,03910,204,301