SPY Options History — September 2016

In September 2016, SPY traded between $213.01 and $218.95. ATM implied volatility averaged 11.9%, placing in the 15.9% IV rank vs the trailing year. The 30-day expected move averaged 3.4%. IV traded above realized volatility by 1.2% (HV 20d: 10.8%). Max pain ranged from $215.00 to $218.00. Net GEX was positive for 5 of 21 trading days. Term structure was in contango for 15 of 21 days. Put/call ratio averaged 1.61.

Notable Days

  • 2016-09-09: Highest Volume — 5,423,351 contracts
  • 2016-09-09: Largest IV spike — 42.8% change
  • 2016-09-13: Highest IV Rank — 36.5%
  • 2016-09-13: Largest Expected Move — 4.4%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$215.84$213.01$218.95$217.24$216.90
Max Pain$216.48$215.00$218.00$215.00$216.00
ATM IV11.9%9.4%15.5%11.4%10.9%
Expected Move3.4%2.6%4.4%3.3%3.1%
HV 20d10.8%4.6%14.4%5.2%14.4%
HV 60d11.6%9.6%13.6%12.2%9.8%
IV Rank15.9%0.9%36.5%12.7%10.1%
IV Percentile26.9%1.2%65.1%16.7%15.5%
Term Structure0.0%-0.4%0.3%-0.1%0.2%
VWIV13.1%9.7%16.6%11.1%12.4%
Skew 25d5.3%4.4%6.6%5.7%5.1%
Skew 10d9.4%5.7%12.2%10.3%9.6%
Call IV 25d9.7%7.6%13.0%8.9%8.7%
Put IV 25d15.0%12.8%19.6%14.6%13.8%
Bid-Ask Spread %1.211.021.421.391.13
Gamma HHI0.050.030.060.040.05
Net GEX-3.66B-9.72B2.92B-2.11B-1.02B
Net DEX16.98B-20.87B49.72B2.52B6.86B
Net VEX-419.7M-440.4M-388.1M-416.0M-432.0M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.610.962.280.961.60
Total Volume2,857,903.191,783,0795,423,3513,152,2322,685,314
Total OI24,248,962.09521,024,55526,637,49524,467,35524,728,476

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2016-09-01$217.24$215.0011.4%3.3%5.2%12.7%11.1%5.7%-0.1%-2.11B2.52B-416.0M0.961.39N/AN/A1,611,3481,540,8849,256,01415,211,341
2016-09-02$218.28$215.009.7%2.6%4.7%2.9%9.7%5.2%-0.4%1.70B-12.95B-404.0M1.561.41N/AN/A1,046,4271,634,7609,524,60715,612,543
2016-09-06$218.80$217.009.5%2.9%4.7%1.5%11.4%5.2%0.3%2.49B-17.67B-391.9M1.661.23N/AN/A669,4751,113,6049,042,70915,233,514
2016-09-07$218.95$218.009.4%2.8%4.7%0.9%11.7%5.1%0.0%2.92B-20.87B-388.1M1.211.18N/AN/A956,9291,161,9599,251,79515,586,874
2016-09-08$218.61$218.009.6%2.8%4.6%2.5%12.3%5.3%0.1%1.18B-13.70B-394.4M1.401.22N/AN/A922,6481,294,6359,421,68715,728,319
2016-09-09$213.83$218.0013.8%3.9%8.9%26.6%14.6%6.5%-0.2%-8.17B49.72B-426.9M1.451.34N/AN/A2,209,2903,214,0619,398,51516,152,858
2016-09-12$216.59$218.0012.0%3.4%10.2%16.3%14.2%5.8%0.2%-3.00B12.21B-406.1M1.641.26N/AN/A1,415,0072,324,1909,101,79015,937,089
2016-09-13$213.01$217.0015.5%4.4%11.6%36.5%16.6%6.6%0.1%-8.49B49.69B-427.2M1.811.38N/AN/A1,376,2732,491,1889,280,04016,341,911
2016-09-14$213.14$217.0015.0%4.3%11.5%34.0%16.2%6.5%-0.2%-9.72B49.59B-430.5M1.641.42N/AN/A1,080,4661,767,6179,599,17416,890,567
2016-09-15$215.48$216.0012.9%3.8%12.3%21.4%14.0%5.3%-0.1%-5.69B19.79B-412.8M1.141.31N/AN/A1,483,4081,688,2759,594,95616,994,839
2016-09-16$213.61$217.0013.4%3.8%12.6%24.4%14.1%5.6%-0.1%-9.31B46.01B-425.6M1.831.07N/AN/A1,228,8452,252,4989,350,20917,287,286
2016-09-19$213.59$216.0013.5%3.9%12.6%24.9%14.1%4.4%0.2%-5.52B34.50B-430.7M1.291.09N/AN/A959,3901,241,8017,481,52013,543,035
2016-09-20$213.83$216.0013.6%3.9%12.6%25.4%15.1%4.5%0.2%-4.97B32.54B-434.3M1.751.13N/AN/A851,3131,486,4947,837,09113,896,953
2016-09-21$215.94$216.0011.7%3.4%13.1%14.6%13.1%5.1%0.0%-1.97B12.70B-424.8M1.841.11N/AN/A1,134,1882,087,2548,177,39214,630,739
2016-09-22$217.31$216.0010.2%2.9%13.3%5.5%11.4%4.6%0.1%855.6M-1.35B-421.9M1.561.11N/AN/A1,099,8021,721,1918,268,44414,722,768
2016-09-23$216.07$216.0010.7%3.0%13.4%8.5%10.8%4.9%0.1%-4.56B14.57B-426.8M1.731.13N/AN/A796,4091,381,4658,444,36415,230,220
2016-09-26$214.23$216.0012.9%3.7%13.7%21.6%13.7%5.4%0.1%-6.66B34.86B-434.2M2.281.02N/AN/A711,0731,623,9007,723,40414,649,628
2016-09-27$215.45$216.0011.5%3.3%13.8%13.5%12.7%4.8%0.2%-5.47B21.46B-426.1M1.671.09N/AN/A736,1311,226,1447,925,82015,136,926
2016-09-28$216.59$216.0010.9%3.1%13.9%9.8%11.8%4.9%0.2%-2.71B8.73B-418.0M1.451.16N/AN/A1,071,6201,557,8358,051,79515,319,071
2016-09-29$215.16$216.0012.7%3.7%14.1%20.1%14.3%5.6%0.1%-6.54B27.40B-440.4M2.211.22N/AN/A984,1002,176,7568,124,33015,537,591
2016-09-30$216.90$216.0010.9%3.1%14.4%10.1%12.4%5.1%0.2%-1.02B6.86B-432.0M1.601.13N/AN/A1,033,4911,651,8238,352,57016,375,906