SPY Options History — July 2017

In July 2017, SPY traded between $240.53 and $247.34. ATM implied volatility averaged 8.0%, placing in the 10.1% IV rank vs the trailing year. The 30-day expected move averaged 2.3%. IV traded above realized volatility by 0.3% (HV 20d: 7.6%). Max pain ranged from $243.00 to $245.00. Net GEX was positive for 14 of 20 trading days. Term structure was in contango for 11 of 20 days. Put/call ratio averaged 1.66.

Notable Days

  • 2017-07-27: Highest Volume — 3,306,795 contracts
  • 2017-07-06: Largest IV spike — 17.3% change
  • 2017-07-03: Highest IV Rank — 25.9%
  • 2017-07-06: Largest Expected Move — 2.9%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$245.07$240.53$247.34$242.21$247.18
Max Pain$244.13$243.00$245.00$243.00$245.00
ATM IV8.0%6.9%10.0%10.0%8.5%
Expected Move2.3%1.9%2.9%2.6%2.1%
HV 20d7.6%6.1%8.6%6.9%6.1%
HV 60d7.2%6.9%7.6%7.1%6.9%
IV Rank10.1%1.7%25.9%25.9%14.6%
IV Percentile12.5%0.4%50.0%50.0%24.2%
Term Structure0.1%-1.0%1.5%-0.9%-0.9%
VWIV8.9%7.3%11.7%9.2%8.3%
Skew 25d3.5%2.8%5.1%3.9%3.8%
Skew 10d6.7%4.9%10.1%7.1%6.9%
Call IV 25d6.4%5.9%8.0%7.3%6.1%
Put IV 25d9.9%8.7%13.1%11.2%9.8%
Bid-Ask Spread %2.341.493.273.273.00
Gamma HHI0.070.040.130.040.06
Net GEX4.05B-7.84B14.06B-2.71B3.54B
Net DEX-19.09B-50.11B27.75B5.78B-21.73B
Net VEX-401.0M-432.8M-380.9M-424.3M-409.5M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.661.162.181.801.97
Total Volume2,017,037.21,285,1603,306,7951,386,5841,473,820
Total OI19,261,08817,674,38121,737,48817,674,38119,430,325

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2017-07-03$242.21$243.0010.0%2.6%6.9%25.9%9.2%3.9%-0.9%-2.71B5.78B-424.3M1.803.27N/AN/A494,689891,8955,480,18712,194,194
2017-07-05$242.92$243.008.4%2.4%7.0%13.7%9.2%3.8%-0.8%-1.66B1.56B-414.9M1.702.96N/AN/A627,9321,066,3645,615,90812,448,215
2017-07-06$240.53$244.009.9%2.9%7.7%25.3%11.7%5.1%0.0%-7.84B27.75B-432.8M1.782.41N/AN/A804,9341,435,9725,610,70412,569,821
2017-07-07$242.23$244.008.6%2.7%8.2%15.3%10.3%4.1%0.1%-2.75B6.71B-420.2M1.912.33N/AN/A735,9171,405,0455,827,36612,916,235
2017-07-10$242.68$244.008.1%2.5%8.2%11.0%10.1%3.7%0.4%-1.60B576.8M-399.5M1.422.36N/AN/A660,736935,7295,655,40512,664,268
2017-07-11$242.21$244.008.7%2.6%8.2%15.8%9.8%3.8%0.2%-3.87B6.48B-405.1M1.162.16N/AN/A991,2071,148,1985,732,70412,945,737
2017-07-12$244.10$244.007.8%2.4%8.4%8.9%9.7%3.8%-0.2%4.33B-17.84B-399.2M1.772.35N/AN/A842,5361,487,3775,961,89713,142,925
2017-07-13$244.46$244.007.6%2.3%8.4%7.2%9.0%3.5%-0.2%4.60B-21.35B-396.4M2.181.84N/AN/A511,0171,112,5196,017,60413,231,193
2017-07-14$245.82$244.007.2%2.1%8.6%3.9%8.7%2.8%0.8%7.71B-37.91B-386.5M1.251.84N/AN/A1,163,2331,452,7066,104,65113,611,224
2017-07-17$245.52$244.007.6%2.1%8.4%6.9%8.9%3.1%-0.2%6.34B-29.55B-394.0M1.561.95N/AN/A546,586855,4106,191,48213,310,499
2017-07-18$245.62$244.007.4%2.1%7.8%5.7%8.7%3.2%-0.2%6.84B-30.76B-389.2M1.931.85N/AN/A517,658997,1766,379,89713,547,952
2017-07-19$246.91$244.007.3%2.1%7.6%4.9%8.4%2.9%0.8%13.07B-48.27B-383.7M1.342.03N/AN/A1,203,2041,618,2446,491,55413,920,790
2017-07-20$247.12$244.007.5%2.1%7.6%6.8%8.3%2.8%0.9%14.06B-50.11B-389.4M1.422.70N/AN/A881,4011,249,5256,784,51114,424,712
2017-07-21$246.66$244.007.4%2.0%7.7%5.6%8.3%2.8%1.0%11.42B-39.02B-395.5M1.651.49N/AN/A941,9411,557,0166,886,17014,851,318
2017-07-24$246.93$244.007.8%2.0%7.7%8.9%7.3%3.1%-0.9%6.16B-27.92B-388.7M1.452.91N/AN/A524,477760,6835,767,59312,201,353
2017-07-25$247.34$244.507.4%1.9%7.7%6.0%8.2%2.8%-1.0%8.01B-33.59B-380.9M1.781.92N/AN/A696,0891,236,5445,972,63012,464,106
2017-07-26$247.24$245.006.9%2.0%7.2%1.7%8.1%3.1%1.3%6.32B-30.74B-385.8M1.322.11N/AN/A898,7501,188,7576,142,20012,932,655
2017-07-27$246.84$245.007.4%2.1%6.9%5.4%8.4%3.4%1.3%3.95B-20.91B-407.6M1.752.65N/AN/A1,201,2572,105,5386,312,41913,112,723
2017-07-28$246.98$245.007.7%2.0%6.2%8.1%8.2%3.6%1.5%5.09B-20.87B-417.3M2.062.68N/AN/A692,7271,425,9356,536,56313,830,070
2017-07-31$247.18$245.008.5%2.1%6.1%14.6%8.3%3.8%-0.9%3.54B-21.73B-409.5M1.973.00N/AN/A496,831976,9896,001,53213,428,793