SPY Options History — November 2019

In November 2019, SPY traded between $305.82 and $315.27. ATM implied volatility averaged 10.6%, placing in the 4.1% IV rank vs the trailing year. The 30-day expected move averaged 3.3%. IV traded above realized volatility by 4.0% (HV 20d: 6.6%). Max pain ranged from $293.00 to $300.00. Net GEX was positive for 17 of 20 trading days. Term structure was in contango for 10 of 20 days. Put/call ratio averaged 1.65.

Notable Days

  • 2019-11-20: Highest Volume — 3,225,816 contracts
  • 2019-11-11: Largest IV spike — 10.4% change
  • 2019-11-21: Highest IV Rank — 10.6%
  • 2019-11-11: Largest Expected Move — 3.5%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$310.14$305.82$315.27$305.82$314.27
Max Pain$297.10$293.00$300.00$300.00$300.00
ATM IV10.6%9.8%12.0%10.0%10.5%
Expected Move3.3%2.7%3.5%2.7%3.3%
HV 20d6.6%5.1%10.6%10.6%5.6%
HV 60d11.9%10.0%14.6%14.6%10.0%
IV Rank4.1%0.0%10.6%1.0%3.5%
IV Percentile12.9%0.0%36.9%2.4%11.5%
Term Structure0.1%-0.4%0.9%0.3%-0.0%
VWIV12.9%10.8%14.3%10.8%12.5%
Skew 25d4.4%3.5%5.5%3.6%5.0%
Skew 10d7.6%6.5%8.8%6.5%8.1%
Call IV 25d9.0%8.0%10.0%8.8%8.8%
Put IV 25d13.4%12.2%15.6%12.4%13.8%
Bid-Ask Spread %1.150.951.290.951.28
Gamma HHI0.050.030.090.070.04
Net GEX4.28B-1.49B9.12B8.02B1.98B
Net DEX-64.78B-86.76B-41.02B-64.88B-68.10B
Net VEX-477.2M-501.2M-454.6M-492.8M-483.5M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.651.242.241.851.62
Total Volume2,185,310.651,288,8653,225,8163,136,5911,288,865
Total OI21,823,399.620,016,84523,706,79722,048,20022,240,195

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2019-11-01$305.82$300.0010.0%2.7%10.6%1.0%10.8%3.6%0.3%8.02B-64.88B-492.8M1.850.95N/AN/A1,102,1772,034,4147,629,95214,418,248
2019-11-04$307.15$293.0010.4%3.5%10.5%2.8%13.0%3.8%0.3%8.02B-67.12B-483.0M1.561.20N/AN/A1,000,6121,557,6127,425,05014,035,249
2019-11-05$307.33$294.0010.6%3.5%8.4%4.1%14.3%3.8%0.1%5.22B-62.13B-498.9M1.381.29N/AN/A730,9001,005,8627,451,62014,303,073
2019-11-06$306.93$294.0010.8%3.5%8.4%4.7%13.9%4.1%-0.2%4.43B-58.23B-494.2M1.861.23N/AN/A673,1591,251,6527,589,18914,621,671
2019-11-07$307.80$295.0010.7%3.5%8.3%4.4%13.4%3.9%-0.2%5.00B-64.12B-486.0M1.501.17N/AN/A1,051,1511,573,9057,523,27214,437,762
2019-11-08$308.68$295.009.9%3.4%6.9%0.6%12.2%3.5%0.5%5.43B-69.31B-480.6M1.891.20N/AN/A647,9791,222,5287,665,10414,894,454
2019-11-11$308.21$295.0011.0%3.5%6.6%5.6%14.2%4.0%0.3%1.21B-60.72B-472.3M1.971.20N/AN/A592,9001,165,4407,556,92014,557,181
2019-11-12$308.70$295.0010.8%3.5%5.8%5.0%13.2%4.0%0.4%2.94B-63.54B-475.9M1.671.19N/AN/A721,7041,204,0317,552,67914,718,560
2019-11-13$309.20$295.0011.2%3.5%5.6%6.8%14.1%4.4%-0.1%3.19B-66.75B-472.2M1.831.14N/AN/A816,7511,496,0467,680,74715,052,714
2019-11-14$309.42$296.0011.2%3.5%5.6%6.5%13.3%4.5%-0.1%3.76B-66.75B-474.5M1.721.17N/AN/A736,0211,268,2537,666,44515,263,381
2019-11-15$311.30$296.0010.1%3.2%5.5%1.4%12.2%4.0%0.2%9.12B-85.96B-461.6M1.401.17N/AN/A1,128,1031,578,0337,888,37615,818,421
2019-11-18$311.82$297.0010.4%3.3%5.4%2.9%13.0%4.2%0.9%4.77B-65.50B-457.8M1.371.14N/AN/A831,2311,141,6816,728,81513,288,030
2019-11-19$312.20$297.0010.9%3.3%5.1%5.2%13.1%4.5%0.9%4.39B-65.17B-465.1M1.401.15N/AN/A858,1511,200,5206,823,77213,311,670
2019-11-20$310.68$300.0011.5%3.3%5.7%8.2%12.4%5.4%-0.4%-726.3M-46.19B-485.9M1.541.14N/AN/A1,272,0401,953,7766,960,21613,837,246
2019-11-21$310.26$300.0012.0%3.5%5.8%10.6%14.2%5.5%-0.3%-707.3M-41.02B-501.2M2.241.17N/AN/A623,2211,397,2607,015,22314,093,861
2019-11-22$310.86$300.0011.0%3.2%5.6%6.0%13.5%5.2%-0.1%-1.49B-47.98B-491.1M1.521.10N/AN/A779,2081,181,3467,179,34314,682,003
2019-11-25$313.04$300.0010.1%3.0%5.8%1.7%11.6%4.6%-0.2%6.34B-70.41B-456.9M1.631.05N/AN/A828,4461,351,9297,144,12814,137,094
2019-11-26$313.93$300.009.8%2.9%5.7%0.0%11.4%4.8%0.0%6.20B-75.07B-454.6M1.921.05N/AN/A675,5611,297,5077,208,88714,150,778
2019-11-27$315.27$300.009.8%3.0%5.8%0.1%11.6%4.3%-0.1%8.57B-86.76B-454.9M1.241.07N/AN/A1,100,1891,366,0497,337,52414,579,139
2019-11-29$314.27$300.0010.5%3.3%5.6%3.5%12.5%5.0%-0.0%1.98B-68.10B-483.5M1.621.28N/AN/A491,438797,4277,479,47014,760,725