SPY Options History — August 2014

In August 2014, SPY traded between $191.08 and $200.54. ATM implied volatility averaged 11.4%, placing in the 31.0% IV rank vs the trailing year. The 30-day expected move averaged 4.0%. IV traded above realized volatility by 0.9% (HV 20d: 10.5%). Max pain ranged from $193.00 to $195.00. Net GEX was positive for 4 of 21 trading days. Term structure was in contango for 17 of 21 days. Put/call ratio averaged 1.96.

Notable Days

  • 2014-08-01: Highest Volume — 4,209,137 contracts
  • 2014-08-13: Largest IV drop — 11.9% change
  • 2014-08-07: Highest IV Rank — 59.1%
  • 2014-08-07: Largest Expected Move — 4.5%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$196.27$191.08$200.54$192.39$200.54
Max Pain$193.57$193.00$195.00$194.00$195.00
ATM IV11.4%9.7%14.7%14.3%9.8%
Expected Move4.0%3.6%4.5%4.4%3.8%
HV 20d10.5%8.2%11.4%9.7%8.2%
HV 60d8.2%8.0%8.4%8.1%8.2%
IV Rank31.0%16.4%59.1%56.2%17.4%
IV Percentile41.9%9.5%92.5%89.3%14.3%
Term Structure0.2%-0.2%0.7%-0.2%0.0%
VWIV15.9%12.6%18.7%14.8%18.7%
Skew 25d4.5%3.3%6.3%6.3%3.6%
Skew 10d8.8%6.4%12.8%12.4%7.0%
Call IV 25d9.6%7.2%12.1%11.8%8.6%
Put IV 25d14.1%11.9%18.1%18.1%12.2%
Bid-Ask Spread %3.532.645.625.623.26
Gamma HHI0.060.040.100.060.06
Net GEX-3.25B-8.82B1.21B-8.78B-2.03B
Net DEX6.47B-21.30B52.97B50.87B-19.43B
Net VEX-345.7M-379.0M-317.4M-379.0M-342.9M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.961.413.532.241.51
Total Volume2,191,173.7621,164,0544,209,1374,209,1372,087,277
Total OI19,332,376.09516,799,25220,820,24019,433,00220,512,487

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2014-08-01$192.39$194.0014.3%4.4%9.7%56.2%14.8%6.3%-0.2%-8.78B50.87B-379.0M2.245.62N/AN/A1,297,8452,911,2925,701,24213,731,760
2014-08-04$193.74$193.0012.9%4.2%10.1%44.0%16.2%5.2%0.2%-6.44B28.70B-360.0M1.913.05N/AN/A655,5281,253,1985,572,19713,294,154
2014-08-05$191.90$193.0014.3%4.4%10.4%56.1%16.1%5.8%0.0%-7.77B46.12B-372.9M2.313.67N/AN/A776,6381,790,2265,719,40213,560,475
2014-08-06$192.03$193.0014.1%4.4%10.1%54.2%18.0%5.7%0.0%-7.70B45.19B-375.0M1.863.53N/AN/A653,6131,217,7365,901,05213,755,218
2014-08-07$191.08$193.0014.7%4.5%10.1%59.1%17.1%5.6%-0.1%-8.82B52.97B-375.9M1.414.23N/AN/A1,227,3141,726,9875,988,32313,914,729
2014-08-08$192.96$193.0013.7%4.4%10.8%50.4%15.1%5.3%0.1%-5.74B32.48B-369.4M1.693.31N/AN/A1,174,8241,979,7586,381,98614,010,130
2014-08-11$193.85$193.0012.5%4.2%10.8%40.4%15.4%5.0%0.6%-5.49B21.92B-355.5M2.003.15N/AN/A586,9131,172,5836,066,50513,619,262
2014-08-12$193.61$193.0012.6%4.2%10.8%40.9%14.0%4.9%0.3%-6.36B25.56B-354.6M1.723.21N/AN/A554,030951,4126,154,05113,925,273
2014-08-13$194.98$193.0011.1%4.0%11.1%28.1%16.8%4.3%0.6%-3.94B8.60B-339.2M2.243.84N/AN/A580,2141,299,4746,307,14414,110,248
2014-08-14$195.89$193.0010.3%3.9%10.6%21.3%14.6%4.2%0.7%-1.99B-1.64B-336.2M2.343.94N/AN/A491,8501,149,2396,286,81714,262,020
2014-08-15$195.86$193.0010.6%3.9%10.3%24.0%17.7%5.0%0.6%-2.86B842.2M-335.9M1.893.44N/AN/A1,441,6532,723,3836,347,97614,472,264
2014-08-18$195.74$193.0010.3%3.8%10.3%21.5%13.9%5.6%0.2%331.0M-9.36B-327.5M1.514.33N/AN/A709,2821,067,6944,957,69411,841,558
2014-08-19$198.43$193.009.8%3.7%11.4%17.2%14.3%4.1%0.0%1.04B-15.60B-317.4M1.583.68N/AN/A744,5441,174,0355,204,22312,185,356
2014-08-20$198.90$194.009.8%3.7%11.4%17.6%17.5%3.8%0.1%779.8M-16.28B-334.0M2.353.49N/AN/A620,6051,456,9915,398,82312,602,501
2014-08-21$199.52$194.009.9%3.6%11.4%18.0%16.4%3.5%-0.0%1.21B-21.30B-334.7M1.612.67N/AN/A715,3081,152,8715,529,94613,093,019
2014-08-22$199.19$194.009.7%3.7%11.3%16.4%14.6%3.5%0.1%-319.8M-16.91B-336.3M2.084.05N/AN/A748,3551,558,1345,609,82213,544,548
2014-08-25$200.06$194.009.7%3.6%11.4%16.8%18.3%3.5%0.0%-506.9M-17.46B-330.0M1.923.24N/AN/A627,6971,204,6935,291,33713,113,344
2014-08-26$200.54$194.009.9%3.7%11.2%18.1%12.6%3.3%-0.0%-721.9M-21.30B-325.3M1.412.73N/AN/A482,422681,6325,439,88713,571,906
2014-08-27$200.31$195.009.8%3.7%11.2%17.4%17.2%3.3%0.0%-862.5M-19.18B-327.3M2.102.64N/AN/A455,656954,5965,541,77213,759,573
2014-08-28$200.25$195.009.7%3.7%8.5%16.6%13.9%3.5%0.1%-1.22B-19.01B-331.2M3.533.05N/AN/A432,3681,524,7795,653,94214,045,932
2014-08-29$200.54$195.009.8%3.8%8.2%17.4%18.7%3.6%0.0%-2.03B-19.43B-342.9M1.513.26N/AN/A831,7741,255,5035,713,44014,799,047