SPY Options History — July 2015

In July 2015, SPY traded between $204.78 and $212.65. ATM implied volatility averaged 12.7%, placing in the 31.3% IV rank vs the trailing year. The 30-day expected move averaged 3.7%. IV traded above realized volatility by 0.5% (HV 20d: 12.2%). Max pain ranged from $209.00 to $210.00. Net GEX was positive for 3 of 22 trading days. Term structure was in contango for 16 of 22 days. Put/call ratio averaged 1.82.

Notable Days

  • 2015-07-24: Highest Volume — 3,679,417 contracts
  • 2015-07-08: Largest IV spike — 18.8% change
  • 2015-07-08: Highest IV Rank — 66.3%
  • 2015-07-09: Largest Expected Move — 4.9%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$209.31$204.78$212.65$207.47$210.37
Max Pain$209.82$209.00$210.00$210.00$210.00
ATM IV12.7%9.9%17.2%14.4%10.7%
Expected Move3.7%2.9%4.9%4.5%3.0%
HV 20d12.2%11.2%13.1%11.7%11.7%
HV 60d10.6%10.2%11.0%10.2%10.6%
IV Rank31.3%9.6%66.3%46.6%15.9%
IV Percentile48.5%8.7%93.7%82.5%17.1%
Term Structure0.1%-0.2%0.6%-0.1%0.6%
VWIV14.0%11.3%18.5%16.9%11.7%
Skew 25d5.1%4.0%7.0%5.9%4.1%
Skew 10d9.7%7.8%13.0%10.8%7.8%
Call IV 25d10.4%8.1%14.1%11.7%8.8%
Put IV 25d15.5%12.4%21.1%17.6%12.9%
Bid-Ask Spread %1.731.322.381.321.66
Gamma HHI0.040.030.080.040.05
Net GEX-3.75B-9.59B4.40B-6.80B-3.36B
Net DEX18.37B-19.07B57.39B36.96B12.02B
Net VEX-323.6M-347.9M-305.0M-323.9M-327.1M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.821.252.781.742.04
Total Volume2,566,314.3181,534,2083,679,4172,369,3762,562,465
Total OI18,091,361.54515,105,03720,940,16417,164,29918,776,758

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2015-07-01$207.47$210.0014.4%4.5%11.7%46.6%16.9%5.9%-0.1%-6.80B36.96B-323.9M1.741.32N/AN/A865,2811,504,0955,677,64511,486,654
2015-07-02$207.56$210.0015.2%4.7%11.2%52.4%17.1%6.8%-0.1%-6.62B37.56B-333.3M1.581.81N/AN/A1,081,4631,712,6285,909,95312,014,590
2015-07-06$206.56$210.0015.8%4.4%11.3%56.6%17.3%6.4%-0.1%-7.48B40.92B-327.2M2.782.01N/AN/A719,0121,995,7415,674,01811,698,281
2015-07-07$207.81$210.0014.5%4.2%11.4%45.2%16.5%5.9%0.1%-6.65B30.69B-326.3M2.222.38N/AN/A1,114,7692,476,4685,847,29912,225,745
2015-07-08$204.78$210.0017.2%4.9%12.5%66.3%18.5%7.0%-0.2%-9.59B57.39B-347.9M1.992.14N/AN/A1,077,7362,148,6126,124,66712,878,036
2015-07-09$205.38$209.0017.0%4.9%11.6%64.9%17.7%7.0%-0.1%-8.55B50.06B-347.5M1.641.67N/AN/A1,060,6451,737,2496,457,68813,115,934
2015-07-10$207.68$209.0014.9%4.2%12.4%48.1%15.6%6.1%0.1%-3.69B25.02B-339.4M1.511.78N/AN/A1,243,2691,881,7116,705,72613,266,144
2015-07-13$209.88$209.0012.2%3.6%12.9%27.3%13.7%5.1%0.3%-2.43B6.45B-309.9M1.601.62N/AN/A1,007,7671,609,5326,444,79812,396,560
2015-07-14$210.73$209.0011.7%3.4%12.9%23.7%13.6%4.9%0.1%-410.4M-685.2M-311.4M2.321.81N/AN/A708,0981,645,4906,695,22312,568,382
2015-07-15$210.52$210.0011.8%3.4%12.8%24.8%13.2%5.0%-0.1%-1.35B2.88B-316.3M1.842.03N/AN/A813,5291,499,1656,781,98212,813,287
2015-07-16$212.27$210.0010.3%3.1%13.1%12.4%12.1%4.2%0.6%4.40B-17.41B-305.0M1.251.37N/AN/A1,185,9241,486,6997,026,56213,227,597
2015-07-17$212.51$210.009.9%2.9%12.6%9.6%12.5%4.2%0.2%4.01B-19.07B-308.3M1.411.61N/AN/A960,5471,354,8267,239,30913,700,855
2015-07-20$212.65$210.0010.5%3.0%12.2%14.4%12.3%4.2%0.2%797.4M-5.77B-306.7M1.561.57N/AN/A853,9371,333,4705,121,3079,983,730
2015-07-21$211.87$210.0010.6%3.1%12.2%15.1%12.3%4.3%0.2%-1.08B2.27B-316.1M1.451.81N/AN/A762,9351,105,5585,333,55710,530,099
2015-07-22$211.22$210.0010.5%3.0%12.2%14.4%11.4%4.0%0.2%-2.51B8.05B-306.7M1.971.79N/AN/A517,1581,017,0505,525,62210,820,433
2015-07-23$210.00$210.0011.4%3.3%12.2%21.1%12.3%4.5%0.2%-6.44B19.86B-320.9M1.621.60N/AN/A1,086,6771,758,8865,508,16810,994,842
2015-07-24$208.04$210.0012.6%3.6%12.6%30.2%13.0%4.7%0.0%-9.18B38.75B-331.6M2.121.50N/AN/A1,178,6172,500,8005,880,01311,469,223
2015-07-27$206.54$210.0014.4%4.2%12.8%44.5%15.4%5.3%0.0%-6.84B43.25B-338.2M2.551.49N/AN/A715,8341,826,0005,517,56911,202,906
2015-07-28$209.25$210.0011.9%3.4%11.5%25.0%12.9%4.5%0.2%-5.05B21.26B-328.1M1.391.66N/AN/A913,9181,271,2055,731,46911,548,320
2015-07-29$210.88$210.0010.6%3.0%11.7%15.2%11.3%4.1%0.4%-1.65B6.63B-323.6M1.481.92N/AN/A887,3241,309,7325,977,20111,831,710
2015-07-30$210.96$210.0010.4%2.9%11.6%13.9%11.3%4.1%0.5%-2.09B7.10B-322.9M2.011.45N/AN/A654,2401,312,8536,112,36912,167,723
2015-07-31$210.37$210.0010.7%3.0%11.7%15.9%11.7%4.1%0.6%-3.36B12.02B-327.1M2.041.66N/AN/A842,2991,720,1666,249,21612,527,542