SPY Options History — January 2015

In January 2015, SPY traded between $199.05 and $206.00. ATM implied volatility averaged 16.3%, placing in the 62.2% IV rank vs the trailing year. The 30-day expected move averaged 4.7%. IV traded above realized volatility by 0.3% (HV 20d: 16.0%). Max pain ranged from $203.00 to $204.00. Net GEX was positive for 2 of 20 trading days. Term structure was in contango for 7 of 20 days. Put/call ratio averaged 1.75.

Notable Days

  • 2015-01-16: Highest Volume — 3,686,724 contracts
  • 2015-01-05: Largest IV spike — 17.5% change
  • 2015-01-15: Highest IV Rank — 87.7%
  • 2015-01-30: Largest Expected Move — 5.5%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$202.65$199.05$206.00$205.69$199.38
Max Pain$203.40$203.00$204.00$204.00$203.00
ATM IV16.3%13.3%19.9%14.2%18.8%
Expected Move4.7%3.8%5.5%4.1%5.5%
HV 20d16.0%13.8%18.1%14.7%16.7%
HV 60d13.0%12.3%14.1%14.0%13.1%
IV Rank62.2%40.0%87.7%46.6%79.8%
IV Percentile91.2%75.0%98.8%86.1%98.0%
Term Structure-0.2%-1.2%0.3%0.2%-0.2%
VWIV17.7%14.3%20.9%16.2%20.6%
Skew 25d6.7%5.1%7.8%6.6%7.4%
Skew 10d13.3%10.7%15.3%13.3%14.5%
Call IV 25d13.5%10.9%16.6%11.3%15.6%
Put IV 25d20.2%16.1%24.4%17.9%23.0%
Bid-Ask Spread %2.841.665.342.382.01
Gamma HHI0.040.030.060.050.06
Net GEX-3.23B-6.41B882.0M-1.27B-6.41B
Net DEX16.54B-10.73B45.77B732.6M40.54B
Net VEX-324.2M-355.3M-310.6M-312.5M-355.3M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.751.082.281.721.83
Total Volume2,734,490.11,356,8313,686,7242,534,1553,185,040
Total OI17,445,613.4514,106,20021,048,01817,223,36317,517,378

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2015-01-02$205.69$204.0014.2%4.1%14.7%46.6%16.2%6.6%0.2%-1.27B732.6M-312.5M1.722.38N/AN/A931,1641,602,9915,529,40111,693,962
2015-01-05$201.95$204.0016.7%4.7%16.0%64.5%18.0%7.7%-0.1%-4.82B24.11B-310.6M2.095.20N/AN/A1,065,5892,228,6035,230,16611,611,246
2015-01-06$199.88$204.0017.9%5.0%16.3%73.1%19.5%7.8%-0.2%-5.94B38.88B-315.4M2.283.87N/AN/A1,118,5982,548,3525,545,13012,146,040
2015-01-07$202.37$204.0016.3%4.7%17.0%62.1%16.9%7.0%-0.1%-3.95B18.42B-320.4M1.393.95N/AN/A848,2271,178,6835,814,57412,554,823
2015-01-08$205.77$204.0014.4%4.2%18.1%48.1%16.7%6.2%0.1%323.4M-10.73B-316.7M1.412.13N/AN/A1,235,7941,743,9396,067,77112,811,057
2015-01-09$204.35$204.0014.8%4.4%17.2%51.0%16.0%6.6%0.3%-2.73B2.97B-316.5M1.572.45N/AN/A1,169,8871,835,9036,321,47113,217,098
2015-01-12$202.76$204.0016.5%4.7%17.4%63.0%17.8%7.0%-0.2%-3.69B15.85B-315.5M1.871.71N/AN/A681,4421,271,0505,914,24112,720,246
2015-01-13$201.82$204.0017.5%4.9%16.7%70.4%18.5%7.5%-0.3%-4.46B23.98B-320.1M1.642.19N/AN/A1,175,8931,928,8426,066,57712,996,910
2015-01-14$200.88$203.0018.6%5.1%16.7%78.3%19.7%7.6%-0.7%-5.27B32.16B-331.5M1.802.30N/AN/A1,306,8402,354,7216,279,93413,506,798
2015-01-15$199.05$203.0019.9%5.5%16.7%87.7%20.9%7.8%-0.9%-6.14B45.77B-330.9M2.112.46N/AN/A963,1392,034,3296,551,96813,787,347
2015-01-16$201.69$203.0018.0%4.9%16.0%74.0%18.0%7.2%-1.2%-3.58B21.80B-330.0M1.275.34N/AN/A1,623,6282,063,0966,747,20814,300,810
2015-01-20$202.02$203.0017.3%4.9%13.8%69.5%19.3%6.8%-0.0%-2.43B14.81B-329.7M1.763.01N/AN/A643,3381,134,4824,466,2029,639,998
2015-01-21$203.11$203.0016.2%4.6%14.0%61.0%17.8%6.5%-0.1%-1.68B8.77B-320.3M2.013.14N/AN/A706,0341,417,4754,657,8319,939,649
2015-01-22$206.00$203.0013.9%4.0%14.9%44.2%15.9%5.4%0.1%882.0M-8.63B-311.3M1.082.10N/AN/A1,515,0621,642,9124,784,82310,400,149
2015-01-23$205.01$203.0014.1%4.0%14.9%45.4%16.0%5.5%0.1%-67.8M-1.62B-322.4M1.952.03N/AN/A869,1201,691,2175,316,78610,842,201
2015-01-26$205.73$203.0013.3%3.8%15.0%40.0%14.3%5.1%0.2%-910.4M-2.75B-320.6M1.592.50N/AN/A522,880833,9515,027,00810,361,865
2015-01-27$203.45$203.0015.0%4.3%15.4%52.5%16.5%5.8%0.0%-3.24B12.10B-320.6M1.894.31N/AN/A847,0801,598,3505,145,37810,522,864
2015-01-28$200.22$203.0017.5%5.1%16.2%70.4%18.1%6.6%-0.0%-5.05B31.87B-343.4M1.992.02N/AN/A766,7981,526,0415,364,92710,816,430
2015-01-29$201.92$203.0016.3%4.7%16.6%61.7%18.2%6.4%-0.1%-4.23B21.85B-340.2M1.811.66N/AN/A1,024,1501,855,1625,559,26111,134,741
2015-01-30$199.38$203.0018.8%5.5%16.7%79.8%20.6%7.4%-0.2%-6.41B40.54B-355.3M1.832.01N/AN/A1,123,5392,061,5015,783,43211,733,946