SPY Options History — February 2019

In February 2019, SPY traded between $269.68 and $279.79. ATM implied volatility averaged 12.7%, placing in the 21.4% IV rank vs the trailing year. The 30-day expected move averaged 3.8%. IV traded above realized volatility by 1.3% (HV 20d: 11.4%). Max pain ranged from $265.00 to $270.50. Net GEX was positive for 16 of 19 trading days. Term structure was in contango for 11 of 19 days. Put/call ratio averaged 1.63.

Notable Days

  • 2019-02-07: Highest Volume — 2,926,656 contracts
  • 2019-02-15: Largest IV drop — 8.2% change
  • 2019-02-07: Highest IV Rank — 26.5%
  • 2019-02-07: Largest Expected Move — 4.2%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$275.18$269.68$279.79$269.99$278.64
Max Pain$267.82$265.00$270.50$265.00$270.50
ATM IV12.7%11.4%13.9%13.4%11.6%
Expected Move3.8%3.4%4.2%4.1%3.5%
HV 20d11.4%8.2%14.9%14.9%8.2%
HV 60d20.4%19.4%21.4%21.4%19.4%
IV Rank21.4%15.7%26.5%24.4%16.6%
IV Percentile46.7%37.7%54.0%50.8%38.9%
Term Structure0.0%-0.4%0.5%0.3%-0.1%
VWIV14.6%12.7%16.7%16.7%13.4%
Skew 25d4.3%3.4%5.1%3.8%5.1%
Skew 10d8.7%6.8%10.8%7.6%10.8%
Call IV 25d10.9%9.7%12.0%11.7%9.8%
Put IV 25d15.2%13.9%16.6%15.6%14.9%
Bid-Ask Spread %1.361.041.811.501.22
Gamma HHI0.040.020.070.040.03
Net GEX2.23B-1.74B6.69B2.45B-827.8M
Net DEX-32.91B-59.44B-14.52B-30.03B-20.91B
Net VEX-379.8M-399.1M-356.4M-377.1M-399.1M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.631.162.061.951.93
Total Volume2,227,664.5261,637,4882,926,6562,557,1481,771,556
Total OI18,256,736.68416,389,89020,574,16118,395,74517,751,111

Daily Data (19 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2019-02-01$269.99$265.0013.4%4.1%14.9%24.4%16.7%3.8%0.3%2.45B-30.03B-377.1M1.951.50N/AN/A866,1711,690,9776,346,10112,049,644
2019-02-04$271.36$265.0013.1%4.0%11.7%23.2%15.0%3.5%0.2%3.04B-33.72B-364.9M2.061.48N/AN/A624,7521,285,9146,237,93511,589,795
2019-02-05$273.20$266.0013.1%4.0%11.5%23.0%14.5%3.4%0.3%3.57B-43.17B-356.4M1.611.81N/AN/A912,6861,469,3056,293,82911,917,603
2019-02-06$272.68$266.0013.1%3.9%11.6%23.3%15.7%3.8%-0.4%2.05B-37.08B-370.3M1.781.41N/AN/A624,8841,109,4656,410,06612,421,583
2019-02-07$269.88$266.0013.9%4.2%12.5%26.5%15.7%4.6%-0.2%-990.9M-15.36B-384.1M1.391.42N/AN/A1,225,9981,700,6586,464,05712,516,520
2019-02-08$269.68$266.0013.3%4.0%12.5%24.0%15.4%4.5%0.3%309.3M-14.52B-392.2M1.621.42N/AN/A971,7011,575,2106,781,48012,886,190
2019-02-11$270.61$266.0013.4%4.0%12.5%24.6%15.9%4.4%0.5%3.21B-20.75B-381.9M1.281.32N/AN/A742,110947,3196,665,15112,412,085
2019-02-12$273.93$267.0013.1%3.9%12.7%23.2%15.0%3.7%0.5%3.64B-42.02B-375.3M1.201.44N/AN/A960,8631,154,7986,584,67512,517,534
2019-02-13$275.23$267.0013.5%3.9%12.4%24.7%14.8%4.1%-0.3%4.77B-48.60B-372.5M1.451.47N/AN/A1,083,2631,571,9376,717,76912,808,945
2019-02-14$275.07$268.0013.7%4.0%12.5%25.6%15.3%4.4%-0.3%3.58B-43.51B-385.3M1.661.45N/AN/A926,4841,537,7146,805,76913,066,781
2019-02-15$277.26$268.0012.5%3.7%12.6%20.7%14.3%4.3%0.1%6.69B-59.44B-380.7M1.721.43N/AN/A989,9941,702,8537,006,92913,567,232
2019-02-19$278.29$268.0012.6%3.6%12.0%20.8%14.3%4.3%0.1%2.57B-35.23B-373.8M1.541.33N/AN/A676,4981,045,0205,391,08610,998,804
2019-02-20$278.30$270.0012.2%3.5%9.9%19.0%12.7%4.3%-0.3%2.19B-32.91B-373.4M1.161.40N/AN/A1,208,6341,404,4055,415,12011,194,083
2019-02-21$276.96$270.0012.3%3.7%10.3%19.9%15.0%4.7%-0.3%131.4M-21.93B-389.1M1.851.32N/AN/A741,0961,371,7455,459,99711,389,430
2019-02-22$278.85$270.0011.4%3.4%10.4%15.7%13.6%4.2%0.2%3.61B-35.61B-380.7M1.341.23N/AN/A919,5121,227,6115,648,27211,791,991
2019-02-25$279.79$270.0011.5%3.5%10.1%16.2%13.5%4.3%0.2%3.33B-35.83B-374.2M1.691.15N/AN/A990,2661,677,4095,425,74911,225,640
2019-02-26$279.71$270.0011.8%3.6%9.2%17.5%13.8%4.7%0.2%702.0M-30.33B-389.7M1.861.04N/AN/A573,3681,064,1205,548,35411,756,721
2019-02-27$279.05$270.0012.0%3.5%9.4%18.5%13.3%4.9%-0.3%-1.74B-24.33B-394.8M1.931.06N/AN/A676,3941,302,9365,697,88212,116,084
2019-02-28$278.64$270.5011.6%3.5%8.2%16.6%13.4%5.1%-0.1%-827.8M-20.91B-399.1M1.931.22N/AN/A604,8401,166,7165,687,94112,063,170