SPY Options History — April 2015

In April 2015, SPY traded between $205.56 and $211.64. ATM implied volatility averaged 12.1%, placing in the 31.3% IV rank vs the trailing year. The 30-day expected move averaged 3.5%. IV traded above realized volatility by 1.1% (HV 20d: 11.0%). Max pain ranged from $208.00 to $210.00. Net GEX was positive for 5 of 21 trading days. Term structure was in contango for 18 of 21 days. Put/call ratio averaged 1.79.

Notable Days

  • 2015-04-17: Highest Volume — 3,571,716 contracts
  • 2015-04-13: Largest IV spike — 14.4% change
  • 2015-04-01: Highest IV Rank — 46.0%
  • 2015-04-01: Largest Expected Move — 4.1%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$209.30$205.56$211.64$205.56$208.33
Max Pain$209.29$208.00$210.00$209.00$210.00
ATM IV12.1%10.7%14.1%14.1%13.2%
Expected Move3.5%3.1%4.1%4.1%3.9%
HV 20d11.0%8.2%14.6%14.4%8.9%
HV 60d12.2%10.8%13.5%13.5%10.8%
IV Rank31.3%21.0%46.0%46.0%39.2%
IV Percentile54.9%32.9%78.6%78.6%70.2%
Term Structure0.2%-0.1%0.6%0.2%0.1%
VWIV13.3%11.2%15.3%14.6%14.2%
Skew 25d4.6%4.1%5.2%5.2%5.0%
Skew 10d8.5%7.7%9.7%9.5%9.7%
Call IV 25d10.0%8.9%11.6%11.6%11.1%
Put IV 25d14.6%13.0%16.8%16.8%16.1%
Bid-Ask Spread %1.751.502.061.501.76
Gamma HHI0.050.030.160.040.04
Net GEX-1.77B-7.94B4.31B-5.44B-6.89B
Net DEX6.05B-8.76B29.98B29.98B24.64B
Net VEX-327.6M-344.0M-307.8M-340.8M-344.0M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.791.382.211.871.74
Total Volume2,024,718.3811,376,1483,571,7162,343,6242,792,181
Total OI17,563,065.61915,561,14919,864,34116,437,38717,986,748

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2015-04-01$205.56$209.0014.1%4.1%14.4%46.0%14.6%5.2%0.2%-5.44B29.98B-340.8M1.871.50N/AN/A817,2831,526,3415,200,82011,236,567
2015-04-02$206.64$210.0013.2%3.9%14.6%39.1%14.9%5.0%0.3%-3.64B21.02B-335.0M2.031.89N/AN/A747,2071,513,9525,454,35311,658,591
2015-04-06$207.92$210.0013.3%3.9%13.7%39.6%14.9%5.0%0.2%-2.46B10.84B-325.9M2.181.75N/AN/A659,3301,438,9505,236,90411,442,927
2015-04-07$207.39$209.0013.3%4.0%13.6%39.9%15.3%5.1%0.5%-3.69B15.70B-328.4M2.171.53N/AN/A533,1521,157,5815,402,10811,790,008
2015-04-08$208.11$209.0012.6%3.7%12.1%34.8%14.3%4.7%0.3%-3.00B10.83B-323.2M2.212.06N/AN/A499,3981,101,4845,547,83312,100,050
2015-04-09$208.90$208.0011.8%3.5%12.1%28.9%13.4%4.5%0.4%-1.13B3.27B-320.8M1.611.63N/AN/A713,1481,146,7465,630,39612,321,419
2015-04-10$209.97$208.0011.2%3.3%11.5%24.5%13.2%4.2%0.6%4.31B-6.98B-307.8M2.051.69N/AN/A780,5951,602,4465,788,42112,638,836
2015-04-13$209.16$209.0012.8%3.7%11.3%36.1%13.6%4.6%0.0%-1.84B5.38B-326.7M1.391.53N/AN/A801,7341,111,6335,598,51812,351,785
2015-04-14$209.25$209.0012.6%3.6%10.4%34.9%13.7%4.6%0.0%-1.97B5.58B-327.3M1.801.61N/AN/A581,5791,047,1635,961,23312,625,411
2015-04-15$210.43$209.0011.8%3.4%10.6%28.8%12.7%4.3%-0.1%1.38B-5.45B-322.3M1.381.54N/AN/A850,3651,173,8396,046,82812,865,298
2015-04-16$210.44$209.0011.5%3.3%9.6%27.0%12.5%4.2%-0.1%1.64B-5.45B-318.1M1.501.52N/AN/A710,4991,069,2456,337,56913,202,590
2015-04-17$207.86$210.0012.6%3.6%10.4%35.0%13.6%4.8%0.1%-7.94B19.78B-331.1M1.681.50N/AN/A1,333,6572,238,0596,520,49113,343,850
2015-04-20$209.88$209.0011.5%3.3%11.0%26.9%12.8%4.7%0.0%-1.15B2.38B-326.7M1.731.89N/AN/A736,5951,272,0744,935,57410,625,575
2015-04-21$209.63$209.0011.7%3.4%10.9%28.4%12.8%4.6%-0.0%-1.85B5.13B-329.2M1.851.85N/AN/A483,091893,0575,182,32411,102,401
2015-04-22$210.64$209.0011.0%3.2%10.9%23.6%12.0%4.4%0.1%-311.6M-1.97B-326.4M1.521.97N/AN/A674,6251,023,9305,280,87911,321,986
2015-04-23$211.25$209.0010.9%3.2%9.4%22.9%12.0%4.3%0.1%731.2M-6.20B-326.7M1.491.90N/AN/A903,3881,349,3465,451,19011,616,977
2015-04-24$211.64$210.0010.7%3.1%9.3%21.0%11.2%4.1%0.1%1.63B-8.76B-329.1M1.491.85N/AN/A623,282929,3395,612,40511,938,230
2015-04-27$210.60$210.0011.7%3.4%9.5%28.4%12.7%4.6%0.4%-1.42B2.32B-328.2M2.121.98N/AN/A575,6611,220,1765,326,41611,423,070
2015-04-28$211.18$210.0011.2%3.2%8.7%24.8%12.2%4.3%0.4%-1.09B-759.4M-327.3M1.951.91N/AN/A599,7751,172,1255,441,73611,719,817
2015-04-29$210.54$210.0011.6%3.4%8.2%27.8%12.6%4.5%0.3%-3.07B5.68B-334.2M1.791.86N/AN/A758,0801,356,9755,505,15912,051,085
2015-04-30$208.33$210.0013.2%3.9%8.9%39.2%14.2%5.0%0.1%-6.89B24.64B-344.0M1.741.76N/AN/A1,018,6701,773,5115,694,43212,292,316