SPY Options History — November 2015

In November 2015, SPY traded between $202.68 and $211.50. ATM implied volatility averaged 14.6%, placing in the 22.1% IV rank vs the trailing year. The 30-day expected move averaged 4.1%. IV traded above realized volatility by 2.0% (HV 20d: 12.6%). Max pain ranged from $203.00 to $207.00. Net GEX was positive for 11 of 20 trading days. Term structure was in contango for 12 of 20 days. Put/call ratio averaged 1.68.

Notable Days

  • 2015-11-13: Highest Volume — 4,521,010 contracts
  • 2015-11-27: Largest IV spike — 43.9% change
  • 2015-11-27: Highest IV Rank — 60.8%
  • 2015-11-13: Largest Expected Move — 5.5%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$208.47$202.68$211.50$210.24$209.45
Max Pain$205.15$203.00$207.00$203.00$206.00
ATM IV14.6%12.1%23.3%12.1%13.7%
Expected Move4.1%3.4%5.5%3.5%4.2%
HV 20d12.6%11.3%14.8%11.4%12.4%
HV 60d19.4%16.0%21.3%21.1%16.0%
IV Rank22.1%10.8%60.8%10.8%18.0%
IV Percentile63.3%34.9%97.2%34.9%58.3%
Term Structure0.1%-2.1%1.0%0.2%-0.3%
VWIV15.7%13.3%19.3%13.3%15.2%
Skew 25d5.4%4.7%6.2%4.9%5.8%
Skew 10d10.2%8.5%12.7%8.6%11.3%
Call IV 25d11.8%10.0%14.4%10.0%11.7%
Put IV 25d17.2%14.8%20.7%14.9%17.5%
Bid-Ask Spread %2.091.393.851.663.02
Gamma HHI0.040.030.050.040.04
Net GEX-358.3M-6.53B3.51B2.92B-749.7M
Net DEX-5.37B-37.26B47.05B-28.41B-1.89B
Net VEX-328.0M-347.7M-289.9M-322.9M-289.9M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.681.232.131.491.52
Total Volume2,179,461.95611,7634,521,0101,893,3691,706,088
Total OI20,657,157.2517,860,55923,101,75719,384,74718,102,295

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2015-11-02$210.24$203.0012.1%3.5%11.4%10.8%13.3%4.9%0.2%2.92B-28.41B-322.9M1.491.66N/AN/A761,3821,131,9876,827,11812,557,629
2015-11-03$211.50$203.0012.2%3.4%11.3%11.6%14.0%4.7%-0.0%3.51B-37.26B-322.6M1.601.48N/AN/A775,0171,237,1296,989,98012,893,889
2015-11-04$210.08$204.0013.2%3.8%11.8%16.0%14.8%4.8%-0.1%1.40B-22.73B-347.7M2.061.67N/AN/A834,2071,715,6237,209,40913,352,592
2015-11-05$210.23$204.0012.9%3.7%11.5%14.7%14.1%4.7%0.0%1.76B-24.07B-343.1M2.131.52N/AN/A644,5321,370,3757,352,27413,825,030
2015-11-06$210.01$205.0012.2%3.9%11.5%11.3%15.5%4.7%0.3%-661.9M-22.07B-341.1M1.442.71N/AN/A1,265,5141,823,9107,456,13014,243,299
2015-11-09$208.02$205.0014.1%4.3%12.2%19.9%16.4%5.6%1.0%-1.59B1.00B-343.0M1.923.85N/AN/A705,5561,352,8937,135,46313,600,458
2015-11-10$208.25$205.0013.5%3.9%11.9%17.0%14.7%5.2%0.9%-1.66B-327.9M-338.5M2.111.52N/AN/A508,3821,071,6897,267,84113,867,793
2015-11-11$208.70$205.0013.3%3.8%11.5%16.2%15.6%5.3%0.7%-1.07B-6.00B-335.9M2.071.39N/AN/A199,377412,3867,331,37813,998,095
2015-11-12$204.94$205.0015.6%4.7%12.5%26.5%16.8%5.8%1.0%-5.10B28.03B-337.9M1.411.68N/AN/A1,214,8721,707,1577,428,01514,201,526
2015-11-13$202.68$205.0017.4%5.5%13.1%34.8%19.3%6.2%0.6%-6.53B47.05B-343.9M1.751.49N/AN/A1,644,3042,876,7067,791,92914,313,748
2015-11-16$205.52$205.0016.1%4.7%14.0%28.7%18.3%5.8%-0.2%-3.23B14.96B-332.1M1.972.84N/AN/A823,0041,617,8007,551,38613,923,945
2015-11-17$205.66$206.0016.4%4.6%14.0%30.0%18.0%6.0%-0.1%-2.08B10.76B-336.3M1.701.69N/AN/A889,0981,508,8527,794,74814,097,257
2015-11-18$208.86$206.0014.6%4.2%14.8%22.0%16.4%5.5%-0.1%1.41B-17.82B-324.7M1.671.67N/AN/A911,0261,517,5247,844,93314,386,869
2015-11-19$208.60$206.0014.7%4.2%13.7%22.5%16.6%5.6%0.2%1.23B-14.59B-328.7M1.631.67N/AN/A800,8041,308,5118,025,98814,694,914
2015-11-20$209.21$206.0014.0%4.1%13.1%19.4%16.1%5.5%0.1%1.33B-23.90B-311.1M1.301.63N/AN/A1,340,7411,737,3798,120,74714,981,010
2015-11-23$209.11$205.0013.5%4.0%13.1%17.1%16.0%5.6%-0.1%381.0M-1.38B-316.2M1.633.18N/AN/A588,362960,6266,437,39811,423,161
2015-11-24$209.35$205.0013.3%3.9%13.0%16.2%15.6%5.6%0.2%99.5M-1.50B-317.6M1.653.10N/AN/A628,9561,036,6186,626,93111,684,493
2015-11-25$209.36$207.0016.2%3.9%12.4%29.1%13.8%5.6%0.3%390.1M-2.72B-320.1M1.231.54N/AN/A686,388846,6056,862,15611,873,781
2015-11-27$209.56$207.0023.3%3.8%12.4%60.8%14.6%5.3%-2.1%1.08B-4.60B-307.3M1.412.55N/AN/A592,949834,9106,991,47812,076,059
2015-11-30$209.45$206.0013.7%4.2%12.4%18.0%15.2%5.8%-0.3%-749.7M-1.89B-289.9M1.523.02N/AN/A678,0451,028,0436,562,55311,539,742