SPY Options History — August 2018

In August 2018, SPY traded between $281.16 and $291.70. ATM implied volatility averaged 9.1%, placing in the 13.2% IV rank vs the trailing year. The 30-day expected move averaged 2.8%. IV traded above realized volatility by 1.6% (HV 20d: 7.5%). Max pain ranged from $277.00 to $281.00. Net GEX was positive for 19 of 23 trading days. Term structure was in contango for 13 of 23 days. Put/call ratio averaged 1.55.

Notable Days

  • 2018-08-15: Highest Volume — 4,261,215 contracts
  • 2018-08-15: Largest IV spike — 16.7% change
  • 2018-08-15: Highest IV Rank — 21.9%
  • 2018-08-15: Largest Expected Move — 3.3%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$285.77$281.16$291.70$281.16$290.15
Max Pain$279.50$277.00$281.00$279.00$281.00
ATM IV9.1%7.8%11.0%9.7%9.2%
Expected Move2.8%2.2%3.3%2.8%2.8%
HV 20d7.5%6.2%8.3%8.1%7.7%
HV 60d8.5%8.0%8.9%8.9%8.1%
IV Rank13.2%6.8%21.9%17.5%13.3%
IV Percentile45.9%24.2%65.9%55.2%48.4%
Term Structure0.0%-0.6%0.9%-0.3%0.1%
VWIV11.2%8.9%14.1%11.1%10.7%
Skew 25d3.5%2.3%5.2%4.1%4.2%
Skew 10d6.9%4.3%10.8%7.3%9.1%
Call IV 25d7.9%7.1%9.0%8.1%8.1%
Put IV 25d11.4%9.5%14.2%12.1%12.2%
Bid-Ask Spread %1.491.273.491.641.45
Gamma HHI0.050.030.070.030.04
Net GEX4.26B-5.68B8.44B-1.15B4.43B
Net DEX-42.85B-81.28B-5.14B-17.34B-56.40B
Net VEX-478.9M-528.1M-438.9M-466.4M-493.6M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.550.972.221.571.47
Total Volume2,374,316.4351,627,1454,261,2152,126,9012,629,620
Total OI21,393,14019,476,23123,965,78419,476,23123,113,635

Daily Data (23 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2018-08-01$281.16$279.009.7%2.8%8.1%17.5%11.1%4.1%-0.3%-1.15B-17.34B-466.4M1.571.64N/AN/A828,3871,298,5147,116,46612,359,765
2018-08-02$282.36$279.008.9%2.5%7.9%13.7%9.7%3.6%-0.1%2.74B-29.14B-471.0M1.881.34N/AN/A740,1741,390,9367,231,73212,512,920
2018-08-03$283.51$279.508.2%2.2%7.6%10.3%8.9%3.4%-0.4%6.27B-45.62B-449.7M1.821.42N/AN/A681,3001,237,5327,423,93912,849,051
2018-08-06$284.66$277.007.9%2.7%7.1%9.1%11.9%2.7%0.2%6.73B-50.46B-451.1M1.321.48N/AN/A860,1751,132,4597,229,49012,579,948
2018-08-07$285.63$278.007.9%2.6%7.1%8.8%10.6%2.5%0.2%8.01B-57.86B-438.9M1.203.49N/AN/A1,156,7601,384,4427,329,49412,871,998
2018-08-08$285.84$279.007.8%2.6%6.5%6.8%10.9%2.3%0.2%8.44B-58.54B-439.6M1.821.38N/AN/A605,4771,102,4217,724,62313,482,062
2018-08-09$285.46$279.008.2%2.7%6.2%8.6%11.5%2.5%-0.1%6.43B-53.17B-459.5M1.811.38N/AN/A578,6631,048,4827,646,00913,625,470
2018-08-10$283.10$279.009.6%3.0%7.0%15.1%11.8%4.2%0.2%-1.56B-21.59B-479.8M2.131.53N/AN/A1,034,5532,200,0387,745,68214,095,446
2018-08-13$282.39$279.0010.4%3.2%7.1%19.4%13.9%4.7%-0.0%-3.95B-11.18B-498.6M1.921.54N/AN/A925,7321,773,0767,585,01414,236,831
2018-08-14$284.04$279.009.4%2.9%7.1%14.3%11.8%3.9%0.2%592.4M-26.72B-490.5M1.631.44N/AN/A721,5491,174,4517,638,59814,257,924
2018-08-15$281.72$280.0011.0%3.3%7.8%21.9%14.1%5.2%0.6%-5.68B-5.14B-495.4M1.701.55N/AN/A1,579,1582,682,0577,812,76414,579,264
2018-08-16$284.16$279.009.6%3.0%8.2%15.3%12.1%4.1%-0.5%4.79B-37.42B-483.9M1.331.36N/AN/A1,341,9561,784,8628,067,86314,859,885
2018-08-17$285.16$280.008.9%2.8%8.3%11.8%11.0%3.7%0.2%7.25B-50.54B-476.6M0.971.36N/AN/A1,694,1731,640,5618,424,62015,541,164
2018-08-20$285.92$280.008.8%2.8%8.3%11.3%11.6%3.3%0.9%5.31B-36.20B-489.7M1.121.31N/AN/A880,640983,1187,792,73812,282,507
2018-08-21$286.61$280.009.1%2.7%8.3%12.8%11.2%3.2%0.9%6.43B-47.47B-464.9M1.181.33N/AN/A966,7671,138,7488,080,49912,385,731
2018-08-22$286.45$280.009.6%2.7%7.7%15.2%11.0%3.4%-0.5%5.10B-39.88B-490.7M1.681.27N/AN/A717,2261,206,0478,326,22412,645,024
2018-08-23$285.72$280.009.5%2.8%7.7%15.0%10.9%3.6%-0.6%3.34B-33.18B-492.8M2.221.39N/AN/A662,6871,474,4038,312,79212,778,478
2018-08-24$287.51$280.009.0%2.7%7.5%12.2%11.4%2.9%-0.5%8.33B-48.70B-503.6M1.461.27N/AN/A1,033,9081,510,3068,375,43413,405,330
2018-08-27$289.61$280.008.8%2.6%7.4%11.7%10.1%3.4%0.2%8.23B-67.91B-481.6M1.331.32N/AN/A1,041,5391,387,1838,249,66113,156,789
2018-08-28$289.84$280.009.0%2.7%7.2%12.4%10.9%3.0%0.2%6.33B-60.18B-496.1M1.521.31N/AN/A660,7161,007,5398,222,78713,462,128
2018-08-29$291.70$280.008.9%2.6%7.4%11.8%9.9%2.9%0.5%8.44B-81.28B-472.6M1.211.33N/AN/A1,046,8671,269,1448,320,73113,798,597
2018-08-30$290.07$281.009.7%2.9%7.8%15.8%11.5%3.8%-0.3%3.23B-49.75B-528.1M1.361.42N/AN/A1,015,4621,379,4708,457,66414,047,449
2018-08-31$290.15$281.009.2%2.8%7.7%13.3%10.7%4.2%0.1%4.43B-56.40B-493.6M1.471.45N/AN/A1,062,6041,567,0168,671,55514,442,080