SPY Options History — July 2019

In July 2019, SPY traded between $295.35 and $302.10. ATM implied volatility averaged 10.9%, placing in the 13.7% IV rank vs the trailing year. The 30-day expected move averaged 3.1%. IV traded above realized volatility by 3.2% (HV 20d: 7.7%). Max pain ranged from $290.00 to $296.00. Net GEX was positive for 18 of 22 trading days. Term structure was in contango for 13 of 22 days. Put/call ratio averaged 1.45.

Notable Days

  • 2019-07-31: Highest Volume — 2,910,549 contracts
  • 2019-07-30: Largest IV spike — 13.0% change
  • 2019-07-31: Highest IV Rank — 19.6%
  • 2019-07-31: Largest Expected Move — 3.5%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$298.94$295.35$302.10$295.35$298.76
Max Pain$293.68$290.00$296.00$290.00$295.00
ATM IV10.9%9.9%12.3%11.7%12.3%
Expected Move3.1%2.6%3.5%3.1%3.5%
HV 20d7.7%6.4%10.7%10.7%7.0%
HV 60d12.2%12.1%12.4%12.1%12.2%
IV Rank13.7%9.3%19.6%16.9%19.6%
IV Percentile32.6%17.9%45.6%40.9%45.6%
Term Structure0.1%-0.4%0.5%0.5%-0.4%
VWIV12.2%9.6%13.5%11.8%13.5%
Skew 25d4.3%3.8%5.1%4.4%5.1%
Skew 10d8.5%7.2%10.6%8.5%10.6%
Call IV 25d9.1%8.3%10.0%9.8%10.0%
Put IV 25d13.4%12.2%15.1%14.3%15.1%
Bid-Ask Spread %1.130.961.281.031.17
Gamma HHI0.040.030.070.050.03
Net GEX2.99B-4.61B8.06B5.46B-2.32B
Net DEX-37.28B-61.69B-12.13B-31.29B-12.13B
Net VEX-503.3M-530.3M-483.2M-484.8M-530.3M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.451.031.941.211.66
Total Volume2,027,516.8641,406,9872,910,5492,794,5512,910,549
Total OI18,410,589.517,166,40020,592,73217,423,90818,378,555

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2019-07-01$295.35$290.0011.7%3.1%10.7%16.9%11.8%4.4%0.5%5.46B-31.29B-484.8M1.211.03N/AN/A1,261,7201,532,8316,166,86411,257,044
2019-07-02$295.98$290.0010.9%2.7%8.6%13.6%10.8%4.4%0.4%4.35B-32.35B-488.9M1.941.08N/AN/A674,7481,307,8816,143,81711,468,796
2019-07-03$298.32$290.0010.8%2.6%8.4%13.3%9.6%3.8%-0.2%6.98B-53.13B-484.6M1.031.12N/AN/A965,508995,6856,313,20011,992,261
2019-07-05$298.10$291.0010.8%3.2%8.2%13.3%12.5%3.9%0.2%6.28B-49.79B-483.2M1.331.28N/AN/A1,015,1631,349,7316,303,64111,889,055
2019-07-08$296.99$292.0011.5%3.4%7.9%16.3%13.5%4.6%0.1%2.72B-34.71B-485.8M1.511.20N/AN/A700,3541,060,2146,064,05511,565,544
2019-07-09$296.90$292.0011.9%3.4%7.9%17.9%12.9%4.8%0.2%2.30B-33.37B-494.8M1.441.15N/AN/A624,312900,8356,139,39911,698,482
2019-07-10$298.54$293.0010.9%3.2%8.0%13.7%13.2%4.2%-0.2%5.64B-48.16B-492.3M1.141.24N/AN/A1,184,4711,353,2876,374,22012,058,532
2019-07-11$298.90$293.0010.8%3.2%7.8%13.1%12.6%4.2%-0.2%5.63B-48.36B-498.3M1.501.22N/AN/A869,4621,301,7346,507,69312,170,439
2019-07-12$300.48$294.0010.3%3.0%7.9%10.7%11.6%3.9%0.2%8.06B-61.69B-489.9M1.721.21N/AN/A827,3811,419,7926,652,20712,627,748
2019-07-15$300.62$294.0010.5%3.0%7.9%11.9%12.2%4.1%-0.2%4.82B-54.75B-493.6M1.371.16N/AN/A698,646957,5066,579,32712,650,126
2019-07-16$300.04$295.0010.4%3.0%8.0%11.1%12.6%4.1%0.2%4.10B-47.77B-499.3M1.571.16N/AN/A661,9121,040,6866,583,52412,801,229
2019-07-17$298.29$295.0011.3%3.2%7.9%15.3%12.4%4.7%-0.2%-887.6M-29.33B-515.9M1.591.15N/AN/A721,5271,148,0656,729,46013,165,203
2019-07-18$298.60$295.0011.0%3.2%7.8%13.8%12.6%4.5%-0.2%1.06B-33.86B-514.5M1.421.17N/AN/A931,2881,323,8506,725,08713,234,744
2019-07-19$297.82$295.0011.3%3.3%7.4%15.3%12.6%4.9%0.2%-4.61B-24.42B-521.2M1.401.22N/AN/A1,152,9531,615,9246,892,07513,700,657
2019-07-22$297.76$295.0011.2%3.2%7.2%14.9%12.8%4.8%0.2%-2.50B-12.67B-517.6M1.461.10N/AN/A704,1791,027,5825,953,00211,213,398
2019-07-23$299.89$295.0010.5%3.0%7.4%11.6%12.1%3.9%0.2%2.83B-30.25B-511.9M1.171.15N/AN/A759,532885,6286,038,00111,265,384
2019-07-24$301.21$295.0010.2%2.9%6.4%10.3%11.2%3.8%-0.1%6.49B-43.53B-503.9M1.361.10N/AN/A778,3711,057,2106,258,29111,526,883
2019-07-25$299.88$295.0010.7%3.1%6.7%12.7%11.9%4.1%-0.2%1.01B-26.95B-519.1M1.341.07N/AN/A890,5171,197,1696,219,50211,656,267
2019-07-26$302.10$295.009.9%2.9%7.0%9.3%11.6%3.9%0.2%5.81B-46.27B-511.2M1.571.02N/AN/A755,7591,183,2036,333,11411,986,184
2019-07-29$301.67$296.0010.2%2.9%7.1%10.4%10.7%4.5%0.3%1.89B-38.08B-507.5M1.590.97N/AN/A560,900890,3196,194,57811,621,196
2019-07-30$300.54$296.0011.5%3.4%6.6%16.2%13.5%4.7%0.2%610.7M-27.24B-525.1M1.610.96N/AN/A538,734868,2536,203,77711,730,408
2019-07-31$298.76$295.0012.3%3.5%7.0%19.6%13.5%5.1%-0.4%-2.32B-12.13B-530.3M1.661.17N/AN/A1,095,1161,815,4336,391,59311,986,962