SPY Options History — April 2019

In April 2019, SPY traded between $285.79 and $293.98. ATM implied volatility averaged 10.5%, placing in the 11.7% IV rank vs the trailing year. The 30-day expected move averaged 3.1%. IV traded above realized volatility by 1.8% (HV 20d: 8.6%). Max pain ranged from $281.00 to $289.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 12 of 21 days. Put/call ratio averaged 1.35.

Notable Days

  • 2019-04-12: Highest Volume — 2,638,567 contracts
  • 2019-04-09: Largest IV spike — 9.6% change
  • 2019-04-03: Highest IV Rank — 16.9%
  • 2019-04-03: Largest Expected Move — 3.5%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$289.75$285.79$293.98$285.79$293.73
Max Pain$285.07$281.00$289.00$281.00$289.00
ATM IV10.5%9.8%11.7%11.2%10.3%
Expected Move3.1%2.8%3.5%3.4%3.0%
HV 20d8.6%4.5%12.0%12.0%4.5%
HV 60d10.1%8.8%12.2%12.2%8.8%
IV Rank11.7%8.7%16.9%14.9%10.6%
IV Percentile33.6%26.2%44.0%38.5%33.7%
Term Structure0.0%-0.5%0.4%0.4%0.2%
VWIV11.9%10.6%13.5%13.2%11.4%
Skew 25d3.8%3.4%4.4%3.7%4.1%
Skew 10d7.7%6.9%9.1%7.0%9.1%
Call IV 25d9.0%8.4%9.9%9.7%8.7%
Put IV 25d12.8%11.9%14.0%13.4%12.8%
Bid-Ask Spread %1.291.121.431.401.16
Gamma HHI0.060.030.130.040.05
Net GEX5.73B2.68B10.93B4.44B4.88B
Net DEX-46.72B-59.56B-34.84B-39.34B-49.38B
Net VEX-444.7M-475.0M-424.5M-426.1M-475.0M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.350.951.841.451.84
Total Volume2,019,473.8571,336,6652,638,5672,505,4462,286,474
Total OI17,218,955.14315,867,09619,218,72815,867,09617,070,392

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2019-04-01$285.79$281.0011.2%3.4%12.0%14.9%13.2%3.7%0.4%4.44B-39.34B-426.1M1.451.40N/AN/A1,021,1311,484,3155,474,28210,392,814
2019-04-02$286.15$281.0010.9%3.3%12.0%13.7%13.4%3.4%0.3%3.88B-39.15B-424.5M1.761.42N/AN/A526,079926,2785,541,49210,590,881
2019-04-03$286.46$281.0011.7%3.5%11.5%16.9%12.9%3.9%-0.4%3.89B-38.90B-436.5M1.321.43N/AN/A1,111,4771,470,9775,721,98210,902,775
2019-04-04$287.01$282.0011.1%3.4%10.8%14.6%13.5%3.8%-0.2%3.89B-40.59B-438.3M1.321.37N/AN/A865,1101,137,9705,799,83111,099,722
2019-04-05$288.42$283.0010.4%3.2%10.7%11.1%12.7%3.6%0.2%7.00B-51.22B-436.7M1.511.37N/AN/A926,3131,400,9886,011,53611,553,692
2019-04-08$288.70$283.0010.6%3.1%9.5%12.2%12.7%3.8%0.1%5.80B-47.47B-427.5M1.401.37N/AN/A678,850952,7675,825,80811,081,951
2019-04-09$287.24$283.0011.6%3.4%9.7%16.6%13.4%4.4%0.2%2.68B-34.84B-443.5M1.321.33N/AN/A859,7641,135,2775,835,65411,180,796
2019-04-10$288.14$284.0011.0%3.2%9.5%13.9%12.2%4.1%-0.2%5.13B-42.91B-438.4M1.311.38N/AN/A723,576944,6256,018,28311,502,823
2019-04-11$288.08$284.0010.7%3.2%9.5%12.6%11.5%4.1%-0.2%4.93B-41.61B-440.0M1.221.27N/AN/A862,1571,055,7896,046,92411,557,111
2019-04-12$289.99$285.009.8%2.9%9.6%8.7%11.1%3.5%0.3%10.93B-59.56B-436.1M1.131.32N/AN/A1,237,4761,401,0916,284,45611,820,713
2019-04-15$289.82$285.0010.0%2.9%9.6%9.5%10.6%3.6%0.2%5.78B-53.38B-428.4M1.071.28N/AN/A891,273956,1296,206,72511,774,786
2019-04-16$289.93$286.0010.1%2.9%9.5%10.1%11.0%3.7%0.2%6.62B-53.78B-434.7M0.951.27N/AN/A919,203871,4666,404,58611,873,925
2019-04-17$289.70$286.0010.3%2.9%9.5%10.7%11.3%3.6%-0.2%4.76B-48.64B-450.9M1.171.27N/AN/A1,054,8801,232,4156,786,32212,162,749
2019-04-18$289.99$287.0010.0%2.9%9.0%9.5%11.2%3.7%-0.2%6.98B-51.04B-455.1M1.481.21N/AN/A928,7961,376,7406,834,81612,383,912
2019-04-22$290.26$287.0010.2%2.9%5.5%10.3%11.3%3.7%0.3%3.67B-36.32B-449.0M1.551.22N/AN/A523,331813,3346,071,5279,851,122
2019-04-23$292.64$287.009.8%2.8%5.8%8.7%11.0%3.6%0.4%6.96B-51.79B-443.5M1.311.22N/AN/A983,7611,287,7296,109,2999,944,829
2019-04-24$292.82$288.0010.3%2.9%5.8%10.6%11.8%3.8%-0.3%6.56B-51.50B-454.8M1.201.21N/AN/A815,813975,7696,343,27110,430,303
2019-04-25$292.74$288.0010.3%2.9%5.8%10.7%12.0%3.9%-0.5%6.27B-47.24B-466.7M1.301.12N/AN/A792,3161,032,1746,410,14210,520,699
2019-04-26$293.07$288.0010.0%2.9%5.8%9.6%11.1%3.9%-0.3%9.33B-51.29B-464.6M1.271.15N/AN/A931,8141,180,6236,528,65510,796,251
2019-04-29$293.98$288.5010.1%2.9%5.7%10.1%11.6%3.9%0.2%5.88B-51.06B-469.6M1.451.29N/AN/A746,7221,086,1796,371,10810,479,113
2019-04-30$293.73$289.0010.3%3.0%4.5%10.6%11.4%4.1%0.2%4.88B-49.38B-475.0M1.841.16N/AN/A803,8211,482,6536,434,03010,636,362