SPY Options History — May 2019

In May 2019, SPY traded between $275.61 and $294.01. ATM implied volatility averaged 15.1%, placing in the 31.8% IV rank vs the trailing year. The 30-day expected move averaged 4.4%. IV traded above realized volatility by 2.9% (HV 20d: 12.2%). Max pain ranged from $281.00 to $289.00. Net GEX was positive for 3 of 22 trading days. Term structure was in contango for 12 of 22 days. Put/call ratio averaged 1.64.

Notable Days

  • 2019-05-07: Highest Volume — 4,430,353 contracts
  • 2019-05-07: Largest IV spike — 48.1% change
  • 2019-05-13: Highest IV Rank — 46.0%
  • 2019-05-13: Largest Expected Move — 5.3%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$285.34$275.61$294.01$292.60$275.61
Max Pain$283.41$281.00$289.00$289.00$282.50
ATM IV15.1%10.4%18.3%11.2%17.6%
Expected Move4.4%2.9%5.3%3.2%5.2%
HV 20d12.2%4.9%15.9%4.9%15.9%
HV 60d10.6%8.8%11.9%8.8%11.9%
IV Rank31.8%11.4%46.0%14.7%42.9%
IV Percentile69.4%37.7%87.7%45.6%82.5%
Term Structure-0.0%-0.8%0.8%-0.4%-0.1%
VWIV16.4%10.8%19.6%12.2%18.6%
Skew 25d6.0%4.3%8.0%4.5%5.6%
Skew 10d11.0%8.6%15.2%10.0%9.9%
Call IV 25d12.1%8.7%14.9%9.3%14.9%
Put IV 25d18.1%13.0%22.5%13.8%20.5%
Bid-Ask Spread %1.301.111.651.441.21
Gamma HHI0.030.020.060.040.06
Net GEX-3.51B-8.49B6.01B1.64B-8.49B
Net DEX16.16B-51.20B70.38B-35.60B70.38B
Net VEX-523.9M-565.6M-503.0M-503.4M-505.3M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.641.252.041.431.85
Total Volume3,040,124.8181,797,4124,430,3532,529,2543,661,464
Total OI19,162,203.45517,878,72521,307,24117,878,72519,601,244

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2019-05-01$292.60$289.0011.2%3.2%4.9%14.7%12.2%4.5%-0.4%1.64B-35.60B-503.4M1.431.44N/AN/A1,041,1301,488,1246,622,40311,256,322
2019-05-02$290.92$289.0011.9%3.4%5.5%17.8%12.8%5.1%-0.3%-701.7M-17.51B-520.2M1.251.35N/AN/A1,195,0151,496,9936,650,55211,414,325
2019-05-03$294.01$289.0010.4%2.9%6.5%11.4%10.8%4.3%0.2%6.01B-51.20B-505.2M1.281.23N/AN/A1,001,8421,283,3296,953,42411,669,206
2019-05-06$292.80$281.0012.3%3.8%6.6%19.7%14.8%5.7%0.2%866.5M-30.46B-514.2M1.821.26N/AN/A1,107,3952,020,6306,512,51611,367,285
2019-05-07$286.96$281.0018.2%5.1%9.9%45.7%18.9%8.0%0.0%-3.81B16.83B-561.2M1.831.62N/AN/A1,563,3502,867,0036,562,24411,766,262
2019-05-08$288.42$282.0016.9%4.8%9.9%40.1%18.8%8.0%-0.5%-3.07B6.02B-565.6M1.441.36N/AN/A1,173,5731,689,5167,052,51012,463,179
2019-05-09$286.85$283.0017.1%4.9%10.1%40.7%19.6%7.6%-0.5%-3.80B16.63B-565.6M1.921.40N/AN/A1,407,2402,708,2387,048,86012,464,935
2019-05-10$287.49$283.0014.5%4.3%10.1%29.2%17.1%6.2%0.2%-3.36B8.16B-546.6M1.711.65N/AN/A1,532,2782,619,0557,414,44313,054,887
2019-05-13$280.65$283.0018.3%5.3%12.9%46.0%19.4%7.2%0.1%-6.97B57.74B-528.6M1.581.34N/AN/A1,581,1562,495,0527,037,30412,350,487
2019-05-14$283.48$282.0016.6%4.9%13.5%38.3%17.3%6.7%0.1%-4.77B32.27B-527.7M1.641.34N/AN/A1,045,1831,718,8717,411,10512,751,284
2019-05-15$285.30$282.0015.0%4.5%13.8%31.4%16.6%6.0%-0.3%-3.83B15.95B-526.0M1.631.37N/AN/A996,4981,620,1647,597,29513,195,299
2019-05-16$287.38$282.0013.7%4.2%14.1%25.8%15.6%5.5%-0.1%-1.89B-2.75B-525.4M1.631.38N/AN/A1,162,4961,894,0097,522,18813,129,475
2019-05-17$286.04$283.0014.1%4.3%14.1%27.6%15.5%5.8%0.2%-4.81B13.94B-531.0M1.731.39N/AN/A1,280,6612,210,6297,702,90513,604,336
2019-05-20$284.10$283.0015.0%4.5%14.3%31.4%16.1%5.7%0.8%-4.85B23.60B-519.0M1.541.21N/AN/A877,6701,353,7216,437,74511,492,101
2019-05-21$286.46$283.0014.0%4.1%14.3%27.3%15.3%5.1%0.8%-1.87B4.63B-511.6M1.711.12N/AN/A664,1731,133,2396,514,98411,590,952
2019-05-22$285.98$283.0014.0%4.0%14.3%26.9%15.5%5.3%-0.8%-2.74B8.84B-511.6M1.571.16N/AN/A818,3121,285,5026,649,25811,892,012
2019-05-23$281.58$283.0016.1%4.7%15.2%36.3%17.0%5.8%-0.7%-6.37B41.78B-520.6M1.501.16N/AN/A1,311,4041,966,1986,695,86811,950,649
2019-05-24$282.85$283.0014.8%4.4%15.3%30.7%15.9%5.5%0.1%-3.87B29.43B-518.4M1.691.13N/AN/A887,7441,500,2417,053,07912,259,891
2019-05-28$280.49$283.0016.5%5.0%15.4%38.0%17.0%5.7%0.1%-6.66B44.83B-503.7M1.751.11N/AN/A898,2561,574,7526,797,47712,001,693
2019-05-29$278.49$283.0016.9%5.0%15.4%40.0%18.0%5.9%-0.0%-7.71B54.91B-503.0M2.041.25N/AN/A1,370,4782,794,4066,916,86911,961,783
2019-05-30$278.99$282.5016.3%4.9%15.5%37.2%17.3%5.8%0.0%-6.08B47.00B-510.9M1.581.17N/AN/A1,003,8801,581,8767,065,04512,112,795
2019-05-31$275.61$282.5017.6%5.2%15.9%42.9%18.6%5.6%-0.1%-8.49B70.38B-505.3M1.851.21N/AN/A1,285,3032,376,1617,276,39512,324,849