SPY Options History — November 2018

In November 2018, SPY traded between $263.25 and $280.63. ATM implied volatility averaged 17.2%, placing in the 51.3% IV rank vs the trailing year. The 30-day expected move averaged 5.3%. IV traded below realized volatility by 3.7% (HV 20d: 20.8%). Max pain ranged from $275.00 to $280.00. Net GEX was positive for 5 of 21 trading days. Term structure was in contango for 8 of 21 days. Put/call ratio averaged 1.36.

Notable Days

  • 2018-11-28: Highest Volume — 4,117,401 contracts
  • 2018-11-12: Largest IV spike — 20.4% change
  • 2018-11-20: Highest IV Rank — 68.0%
  • 2018-11-20: Largest Expected Move — 6.1%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$272.19$263.25$280.63$273.18$276.00
Max Pain$276.29$275.00$280.00$280.00$275.00
ATM IV17.2%14.1%20.6%16.9%16.6%
Expected Move5.3%4.4%6.1%5.3%5.4%
HV 20d20.8%18.4%22.3%22.0%18.4%
HV 60d15.3%14.0%16.9%14.0%16.9%
IV Rank51.3%36.6%68.0%49.9%48.3%
IV Percentile87.3%77.4%96.4%88.5%81.3%
Term Structure-0.0%-0.9%1.1%-0.3%-0.0%
VWIV19.3%16.5%22.0%20.2%19.7%
Skew 25d5.3%4.0%6.5%5.7%4.8%
Skew 10d10.3%7.3%12.5%11.5%8.7%
Call IV 25d14.8%12.1%17.4%14.3%14.2%
Put IV 25d20.1%16.6%23.2%20.0%19.0%
Bid-Ask Spread %1.631.372.011.371.58
Gamma HHI0.030.020.040.030.03
Net GEX-2.96B-7.45B4.16B-3.45B4.16B
Net DEX38.68B-26.40B86.93B40.32B-9.65B
Net VEX-464.0M-514.6M-415.7M-514.6M-461.6M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.360.771.811.530.77
Total Volume2,976,328.5241,843,2304,117,4012,844,4982,934,449
Total OI23,982,154.23821,221,35826,406,96824,445,79224,196,423

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2018-11-01$273.18$280.0016.9%5.3%22.0%49.9%20.2%5.7%-0.3%-3.45B40.32B-514.6M1.531.37N/AN/A1,126,2931,718,20510,511,29013,934,502
2018-11-02$271.81$279.0017.2%5.6%22.0%51.6%20.1%5.5%0.2%-5.38B53.53B-509.7M1.251.87N/AN/A1,592,1431,992,44910,755,31614,438,695
2018-11-05$273.26$276.0017.8%5.3%22.2%54.2%19.4%5.7%-0.2%-3.32B40.22B-502.0M1.431.62N/AN/A1,011,5871,444,52510,259,09713,921,084
2018-11-06$274.29$276.0017.4%5.3%22.3%52.4%19.4%5.6%0.1%-2.70B31.90B-507.7M1.581.63N/AN/A717,3811,136,65410,349,59314,113,469
2018-11-07$280.63$276.0014.1%4.4%21.6%36.6%17.2%4.4%-0.2%3.93B-26.40B-478.9M1.391.46N/AN/A1,553,8512,165,85810,504,08214,426,265
2018-11-08$279.72$276.0014.2%4.4%20.4%36.8%16.8%4.9%-0.4%720.3M-11.45B-477.2M1.601.62N/AN/A1,009,8481,619,34910,384,60514,522,199
2018-11-09$278.48$277.0014.5%4.5%20.4%38.3%16.5%5.3%0.3%-1.52B4.04B-483.2M1.511.43N/AN/A1,275,0131,925,37110,678,85214,901,189
2018-11-12$273.02$277.0017.4%5.2%21.6%52.7%19.4%6.5%0.2%-6.72B56.37B-465.9M1.811.57N/AN/A1,102,0811,995,61010,262,13714,451,648
2018-11-13$272.06$277.0017.7%5.3%20.7%53.7%19.3%6.2%0.2%-6.42B59.89B-463.2M1.421.59N/AN/A1,127,7371,606,89510,356,50114,419,512
2018-11-14$270.86$276.0018.2%5.4%20.7%56.5%20.4%5.9%-0.1%-7.39B68.16B-463.0M1.701.87N/AN/A1,334,4652,269,87110,641,88214,630,059
2018-11-15$272.48$277.0017.7%5.4%20.5%53.8%20.0%5.8%-0.5%-5.23B51.79B-468.5M1.192.01N/AN/A1,844,9422,187,19110,840,41914,631,217
2018-11-16$274.12$277.0016.0%4.9%20.6%45.5%18.0%5.0%0.3%-1.18B35.20B-462.0M1.151.62N/AN/A1,515,0331,748,34011,562,77514,844,193
2018-11-19$268.60$276.0018.5%5.6%21.8%57.7%19.2%5.6%1.1%-5.04B60.57B-443.6M1.201.68N/AN/A1,330,8981,602,9949,467,18211,754,176
2018-11-20$264.72$276.0020.6%6.1%22.3%68.0%22.0%5.8%1.1%-6.43B82.06B-440.5M1.621.87N/AN/A1,463,0682,366,5479,719,59011,981,354
2018-11-21$265.35$276.0019.2%5.5%21.2%61.2%19.2%5.3%-0.9%-6.41B77.01B-433.4M1.371.68N/AN/A1,192,2511,628,34810,222,97812,439,442
2018-11-23$263.25$275.0019.3%5.9%21.1%61.7%21.1%5.3%-0.2%-7.45B86.93B-427.6M1.531.78N/AN/A727,2541,115,97610,311,08012,529,979
2018-11-26$267.33$275.0017.1%5.2%20.6%50.9%19.3%4.6%-0.2%-4.17B57.25B-415.7M1.251.56N/AN/A992,3361,243,5409,964,80412,157,183
2018-11-27$268.08$275.0017.1%5.3%19.6%51.0%19.0%4.5%-0.1%-3.64B50.95B-418.1M1.101.57N/AN/A909,3031,000,93510,127,14612,172,791
2018-11-28$273.92$275.0016.6%5.3%19.3%48.5%18.8%4.0%-0.4%2.25B4.68B-445.6M0.891.44N/AN/A2,177,2841,940,11710,468,04212,346,470
2018-11-29$274.79$275.0016.6%5.3%18.4%48.6%19.7%4.5%-0.3%3.25B-1.03B-461.2M1.291.48N/AN/A1,248,1411,608,76610,881,15312,544,865
2018-11-30$276.00$275.0016.6%5.4%18.4%48.3%19.7%4.8%-0.0%4.16B-9.65B-461.6M0.771.58N/AN/A1,661,2411,273,20811,099,86213,096,561