SPY Options History — December 2015

In December 2015, SPY traded between $200.54 and $210.76. ATM implied volatility averaged 16.7%, placing in the 30.9% IV rank vs the trailing year. The 30-day expected move averaged 4.4%. IV traded above realized volatility by 0.3% (HV 20d: 16.4%). Max pain ranged from $205.00 to $207.00. Net GEX was positive for 6 of 22 trading days. Term structure was in contango for 15 of 22 days. Put/call ratio averaged 1.40.

Notable Days

  • 2015-12-11: Highest Volume — 5,155,387 contracts
  • 2015-12-02: Largest IV spike — 114.8% change
  • 2015-12-02: Highest IV Rank — 74.4%
  • 2015-12-11: Largest Expected Move — 5.7%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$205.65$200.54$210.76$210.76$204.59
Max Pain$206.05$205.00$207.00$206.00$205.00
ATM IV16.7%12.3%26.3%12.3%15.4%
Expected Move4.4%3.7%5.7%3.8%4.4%
HV 20d16.4%12.2%19.3%12.2%19.0%
HV 60d15.7%14.7%16.6%15.7%14.8%
IV Rank30.9%11.7%74.4%11.7%25.0%
IV Percentile72.2%33.7%98.8%33.7%71.0%
Term Structure0.1%-0.5%0.7%0.4%0.2%
VWIV16.4%13.7%21.4%14.5%16.0%
Skew 25d5.9%4.9%8.3%5.7%6.0%
Skew 10d11.8%8.1%21.3%10.0%11.9%
Call IV 25d12.9%10.1%17.2%10.1%12.6%
Put IV 25d18.8%15.8%25.5%15.8%18.6%
Bid-Ask Spread %1.741.262.672.671.63
Gamma HHI0.040.030.140.040.05
Net GEX-1.90B-9.77B1.75B1.63B-3.06B
Net DEX17.43B-12.18B66.35B-12.18B17.48B
Net VEX-309.1M-326.8M-290.0M-290.0M-307.2M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.401.121.761.281.58
Total Volume2,708,601.2731,386,9115,155,3871,853,2332,289,675
Total OI19,471,446.86416,582,18422,706,34218,623,17918,033,285

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2015-12-01$210.76$206.0012.3%3.8%12.2%11.7%14.5%5.7%0.4%1.63B-12.18B-290.0M1.282.67N/AN/A811,5651,041,6686,798,09911,825,080
2015-12-02$208.41$207.0026.3%4.1%12.6%74.4%15.8%5.7%-0.5%-853.5M7.04B-310.1M1.211.50N/AN/A928,8501,121,4607,038,59012,084,082
2015-12-03$205.53$207.0020.6%4.5%13.3%48.8%17.1%6.3%0.1%-4.14B30.31B-311.0M1.551.68N/AN/A1,303,6142,024,4377,259,99912,283,173
2015-12-04$209.65$207.0025.5%3.7%15.2%70.7%15.2%5.2%0.4%1.31B-5.68B-302.7M1.211.59N/AN/A1,613,9611,951,9547,527,29012,738,444
2015-12-07$208.87$207.0013.1%3.8%15.3%15.2%13.7%4.9%0.3%-382.4M-603.3M-293.9M1.432.60N/AN/A888,5501,273,2537,105,04712,116,863
2015-12-08$207.16$207.0014.7%4.3%15.2%21.8%16.4%6.1%0.2%-2.13B15.40B-308.9M1.431.56N/AN/A781,2551,115,2737,281,76012,483,976
2015-12-09$205.24$207.0016.5%4.7%15.5%29.9%17.0%6.4%0.0%-3.69B30.92B-313.8M1.511.65N/AN/A1,353,6812,039,1257,446,38312,725,326
2015-12-10$205.61$207.0016.3%4.6%15.5%29.0%17.5%6.7%-0.1%-3.79B27.05B-321.1M1.511.53N/AN/A837,0361,265,2627,843,53813,146,603
2015-12-11$201.73$207.0020.1%5.7%15.6%45.9%21.4%8.3%-0.5%-7.74B61.71B-326.8M1.761.89N/AN/A1,868,4903,286,8977,967,60713,489,999
2015-12-14$202.66$207.0018.4%5.2%15.2%38.4%19.9%6.1%-0.2%-4.30B39.37B-315.8M1.421.92N/AN/A1,332,3481,893,1737,893,63713,069,403
2015-12-15$205.14$206.0017.4%5.0%15.0%33.9%19.3%6.4%-0.4%-2.58B24.77B-326.5M1.191.77N/AN/A1,310,2941,564,7117,973,26813,493,072
2015-12-16$208.16$206.0015.0%4.3%15.9%23.2%16.9%5.6%-0.2%619.8M-882.7M-311.6M1.411.80N/AN/A1,449,5642,048,6538,134,94213,808,714
2015-12-17$205.29$206.0015.6%4.5%15.7%25.9%15.8%4.9%-0.3%-2.36B16.61B-298.9M1.131.95N/AN/A1,903,6102,145,2558,421,85914,257,251
2015-12-18$200.54$206.0017.5%5.0%17.6%34.4%17.7%6.3%0.0%-9.77B66.35B-310.0M1.411.75N/AN/A1,981,2312,791,0348,114,49914,591,843
2015-12-21$201.45$205.0016.8%4.9%17.7%31.4%17.4%5.9%0.3%-2.78B33.43B-311.1M1.511.37N/AN/A847,3801,275,4936,205,88710,376,297
2015-12-22$203.31$205.0015.0%4.3%18.1%23.3%15.8%5.2%0.5%-995.9M18.67B-308.3M1.521.36N/AN/A897,3181,367,9486,411,17810,647,661
2015-12-23$205.97$205.0013.6%3.9%18.8%16.5%14.4%4.9%0.6%1.75B-51.9M-307.5M1.121.26N/AN/A1,229,1541,378,9616,581,06110,958,136
2015-12-24$205.68$205.0013.9%3.9%18.8%18.1%14.3%5.0%0.7%806.7M4.16B-311.1M1.432.42N/AN/A611,891874,4646,873,37911,337,951
2015-12-28$205.16$205.0014.9%4.2%18.8%22.5%15.1%5.8%0.2%-767.9M9.96B-305.4M1.401.31N/AN/A578,621808,2906,367,53810,661,792
2015-12-29$207.40$205.0013.8%3.8%19.3%17.8%14.7%5.7%0.3%1.57B-5.47B-302.8M1.321.48N/AN/A780,1321,033,6316,459,03310,920,813
2015-12-30$206.04$205.0014.5%4.0%19.2%21.0%14.8%5.8%0.3%-163.1M5.08B-305.6M1.461.58N/AN/A687,5051,002,5616,528,03011,089,443
2015-12-31$204.59$205.0015.4%4.4%19.0%25.0%16.0%6.0%0.2%-3.06B17.48B-307.2M1.581.63N/AN/A888,9221,400,7536,650,72811,382,557