SPY Options History — July 2020

In July 2020, SPY traded between $311.71 and $326.74. ATM implied volatility averaged 21.9%, placing in the 19.3% IV rank vs the trailing year. The 30-day expected move averaged 6.3%. IV traded above realized volatility by 3.5% (HV 20d: 18.4%). Max pain ranged from $306.00 to $313.00. Net GEX was positive for 18 of 22 trading days. Term structure was in contango for 12 of 22 days. Put/call ratio averaged 1.43.

Notable Days

  • 2020-07-13: Highest Volume — 5,455,408 contracts
  • 2020-07-13: Largest IV spike — 13.0% change
  • 2020-07-13: Highest IV Rank — 24.7%
  • 2020-07-13: Largest Expected Move — 7.4%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$320.02$311.71$326.74$311.71$325.31
Max Pain$309.64$306.00$313.00$306.00$313.00
ATM IV21.9%19.4%25.6%23.0%19.7%
Expected Move6.3%5.4%7.4%6.4%5.6%
HV 20d18.4%11.8%28.7%28.7%11.8%
HV 60d24.1%21.9%26.7%26.7%21.9%
IV Rank19.3%15.7%24.7%20.9%16.1%
IV Percentile63.8%56.0%73.8%69.0%56.3%
Term Structure-0.0%-0.5%0.4%-0.4%0.4%
VWIV24.7%21.6%28.6%26.0%22.2%
Skew 25d8.8%7.5%10.8%9.1%8.0%
Skew 10d16.3%13.2%20.6%16.2%14.6%
Call IV 25d18.3%16.2%20.9%19.4%16.2%
Put IV 25d27.1%24.2%31.7%28.5%24.2%
Bid-Ask Spread %1.200.881.581.461.55
Gamma HHI0.030.020.100.020.04
Net GEX1.43B-2.23B4.78B1.23B2.32B
Net DEX-46.26B-69.46B-25.62B-26.39B-56.28B
Net VEX-699.9M-721.0M-671.8M-715.0M-695.9M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.431.171.771.311.56
Total Volume3,575,934.9092,159,3625,455,4083,776,7224,237,290
Total OI20,570,872.45518,725,50722,591,17020,502,42720,431,005

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2020-07-01$311.71$306.0023.0%6.4%28.7%20.9%26.0%9.1%-0.4%1.23B-26.39B-715.0M1.311.46N/AN/A1,637,0602,139,6627,479,92113,022,506
2020-07-02$312.74$307.0022.2%6.0%28.5%19.7%23.7%8.9%-0.4%1.92B-29.92B-714.3M1.311.49N/AN/A1,929,0252,518,5507,515,09413,103,948
2020-07-06$316.56$306.0022.5%6.7%27.1%20.1%25.5%8.7%0.3%1.88B-43.45B-700.6M1.250.93N/AN/A1,690,3122,109,9117,434,40812,932,532
2020-07-07$314.40$307.0024.3%7.1%26.8%22.8%26.9%9.5%0.3%-497.0M-27.62B-709.4M1.570.88N/AN/A1,082,7001,699,4917,403,41913,171,080
2020-07-08$315.67$309.0023.4%6.8%26.9%21.5%27.1%9.6%-0.5%212.8M-33.94B-704.1M1.580.97N/AN/A1,304,1712,058,2787,606,71713,443,106
2020-07-09$314.17$309.0024.5%7.1%26.9%23.1%27.2%10.3%-0.5%-793.3M-25.62B-709.7M1.501.01N/AN/A1,679,5472,519,7657,571,01713,463,668
2020-07-10$317.35$310.0022.6%6.7%17.0%20.4%26.9%9.3%0.3%2.19B-45.45B-705.1M1.520.95N/AN/A1,553,1612,365,3617,810,31613,798,220
2020-07-13$316.04$310.0025.6%7.4%17.2%24.7%28.6%10.8%0.2%-85.3M-34.15B-721.0M1.351.11N/AN/A2,324,7443,130,6647,782,06413,645,134
2020-07-14$318.05$310.0024.6%7.1%17.1%23.2%28.1%10.3%0.2%968.1M-44.14B-710.2M1.771.04N/AN/A1,501,7262,665,3337,940,93513,773,632
2020-07-15$322.06$310.0023.0%6.6%16.3%20.9%26.3%9.0%-0.5%3.85B-68.84B-703.9M1.171.01N/AN/A2,331,1612,736,1148,157,35014,059,945
2020-07-16$320.80$310.0022.4%6.5%16.4%20.0%24.6%8.9%-0.5%1.98B-59.90B-703.5M1.200.93N/AN/A1,293,9601,548,3448,096,53814,124,759
2020-07-17$322.09$310.0020.8%6.1%16.4%17.7%24.9%7.7%0.3%3.48B-69.46B-691.6M1.221.02N/AN/A1,618,0131,978,0658,283,53414,307,636
2020-07-20$324.88$310.0019.6%5.7%16.4%16.0%23.5%7.5%0.3%4.78B-61.56B-671.8M1.261.16N/AN/A1,333,3091,686,5387,259,81411,465,693
2020-07-21$325.12$310.0020.4%5.9%16.4%17.1%23.2%7.8%0.2%2.32B-59.36B-684.7M1.291.23N/AN/A1,305,7621,681,6687,304,51711,714,765
2020-07-22$326.74$310.0019.7%5.6%16.3%16.1%22.9%7.9%-0.4%3.55B-65.91B-686.1M1.451.21N/AN/A1,149,7651,667,8607,524,74412,120,187
2020-07-23$322.68$310.0021.1%6.1%14.1%18.2%23.4%8.7%-0.4%197.8M-43.04B-698.7M1.321.26N/AN/A1,585,3952,093,3977,460,92812,116,229
2020-07-24$320.41$310.0021.3%6.2%14.5%18.4%23.9%8.6%0.4%-2.23B-31.16B-702.5M1.771.33N/AN/A1,442,6672,557,4937,722,49912,400,913
2020-07-27$323.10$310.0020.1%5.8%12.6%16.7%22.8%8.4%0.4%1.36B-47.87B-685.4M1.381.43N/AN/A1,126,6411,554,7447,393,33912,134,431
2020-07-28$321.74$311.0020.6%5.9%12.8%17.4%22.4%8.6%0.4%784.9K-39.91B-689.3M1.441.52N/AN/A886,0511,273,3117,377,22412,177,061
2020-07-29$325.18$311.0019.4%5.4%11.9%15.7%21.6%7.9%-0.2%2.38B-57.22B-689.2M1.511.58N/AN/A1,088,5661,639,3207,554,87412,487,524
2020-07-30$323.68$313.0020.6%5.8%11.8%17.4%22.7%8.4%-0.3%461.8M-46.52B-705.1M1.661.41N/AN/A1,106,1551,839,5187,474,88512,511,083
2020-07-31$325.31$313.0019.7%5.6%11.8%16.1%22.2%8.0%0.4%2.32B-56.28B-695.9M1.561.55N/AN/A1,655,4052,581,8857,629,47012,801,535