SPY Options History — August 2020

In August 2020, SPY traded between $329.25 and $350.92. ATM implied volatility averaged 17.7%, placing in the 13.2% IV rank vs the trailing year. The 30-day expected move averaged 5.2%. IV traded above realized volatility by 7.5% (HV 20d: 10.2%). Max pain ranged from $310.00 to $318.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 13 of 21 days. Put/call ratio averaged 1.38.

Notable Days

  • 2020-08-26: Highest Volume — 4,312,485 contracts
  • 2020-08-31: Largest IV spike — 12.2% change
  • 2020-08-03: Highest IV Rank — 15.9%
  • 2020-08-11: Largest Expected Move — 5.8%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$338.79$329.25$350.92$329.25$350.92
Max Pain$313.67$310.00$318.00$314.00$318.00
ATM IV17.7%16.6%19.6%19.6%18.8%
Expected Move5.2%4.8%5.8%5.5%5.4%
HV 20d10.2%7.6%11.8%11.8%7.6%
HV 60d19.5%17.5%22.0%22.0%17.5%
IV Rank13.2%11.5%15.9%15.9%14.8%
IV Percentile50.1%45.6%55.2%55.2%54.0%
Term Structure0.1%-0.5%0.8%0.4%0.4%
VWIV21.4%19.2%26.6%22.2%21.4%
Skew 25d7.4%5.9%8.2%7.9%7.3%
Skew 10d15.1%11.9%17.1%14.9%16.1%
Call IV 25d15.2%14.3%16.8%16.3%16.8%
Put IV 25d22.6%21.0%24.1%24.1%24.0%
Bid-Ask Spread %1.361.211.581.391.38
Gamma HHI0.040.030.080.040.04
Net GEX3.64B1.18B6.79B3.45B3.92B
Net DEX-100.64B-138.20B-69.14B-71.84B-130.76B
Net VEX-697.4M-720.2M-674.6M-689.9M-720.2M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.381.091.931.231.37
Total Volume3,230,814.7622,162,4914,312,4852,750,7213,163,559
Total OI21,907,408.66719,823,97324,282,73419,823,97322,493,836

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2020-08-03$329.25$314.0019.6%5.5%11.8%15.9%22.2%7.9%0.4%3.45B-71.84B-689.9M1.231.39N/AN/A1,231,5211,519,2007,441,98912,381,984
2020-08-04$329.32$315.0019.4%5.3%11.4%15.6%21.9%7.5%0.4%2.06B-69.14B-692.6M1.411.34N/AN/A937,9751,320,3617,472,15612,474,197
2020-08-05$331.71$315.0018.4%4.9%11.5%14.2%19.2%7.3%-0.4%3.81B-80.98B-687.2M1.781.25N/AN/A1,100,2381,955,3897,631,92812,871,115
2020-08-06$334.07$310.0017.6%5.4%11.3%13.1%21.6%6.9%-0.4%2.91B-87.31B-690.0M1.301.28N/AN/A1,120,4761,455,2317,652,00913,062,748
2020-08-07$334.44$310.0017.4%5.4%11.0%12.7%21.5%7.2%-0.4%3.70B-89.51B-690.8M1.421.44N/AN/A1,613,1272,294,3097,865,56413,420,700
2020-08-10$335.07$310.0017.3%5.4%10.7%12.7%21.7%7.2%0.4%4.24B-90.90B-677.5M1.271.37N/AN/A1,356,9181,726,5357,871,90113,098,892
2020-08-11$333.35$310.0019.4%5.8%11.0%15.6%22.8%8.2%0.3%1.60B-78.76B-690.8M1.331.58N/AN/A1,658,7432,210,4817,884,70913,212,493
2020-08-12$337.79$310.0017.4%5.2%11.1%12.7%22.1%7.2%-0.3%5.07B-103.38B-686.1M1.341.40N/AN/A1,611,6002,154,2138,187,68313,681,013
2020-08-13$336.82$311.0017.4%5.3%11.0%12.8%20.3%7.2%-0.3%2.70B-95.02B-697.9M1.141.21N/AN/A1,480,3831,693,2118,200,20613,718,094
2020-08-14$336.07$313.0017.7%5.4%11.1%13.1%26.6%7.7%0.5%1.18B-91.43B-703.0M1.521.35N/AN/A1,419,2342,156,2368,485,91514,102,450
2020-08-17$338.01$313.0016.9%5.1%10.9%12.0%21.3%7.3%0.7%4.19B-104.01B-684.5M1.211.35N/AN/A979,1601,183,3318,413,10113,967,085
2020-08-18$338.71$314.0017.0%5.0%10.9%12.1%19.8%7.1%0.8%3.86B-109.22B-674.6M1.931.31N/AN/A1,054,9092,041,1628,474,33214,041,555
2020-08-19$337.52$315.0017.7%5.1%11.0%13.2%21.3%7.5%-0.4%1.19B-95.85B-717.6M1.421.39N/AN/A1,493,2132,116,6228,672,31614,911,017
2020-08-20$338.64$315.0017.3%5.0%9.7%12.5%20.9%7.7%-0.4%2.36B-100.94B-720.2M1.451.43N/AN/A1,132,7441,638,8418,653,72915,125,724
2020-08-21$339.23$315.0017.0%4.9%9.0%12.1%21.8%7.9%0.1%3.77B-106.00B-716.9M1.661.30N/AN/A1,272,4342,114,3298,830,39615,452,338
2020-08-24$342.38$315.0016.8%4.9%9.1%11.8%21.0%7.9%0.1%5.44B-103.84B-696.0M1.471.41N/AN/A1,244,2001,830,3958,027,46413,423,665
2020-08-25$344.01$315.0016.6%4.8%8.7%11.5%20.0%7.1%0.1%4.42B-111.85B-687.8M1.211.36N/AN/A1,103,0661,335,9018,062,69113,505,263
2020-08-26$347.47$316.0017.7%5.1%8.7%13.1%21.1%7.6%0.4%5.56B-127.36B-697.2M1.331.30N/AN/A1,846,9972,465,4888,196,94013,858,197
2020-08-27$349.07$316.0017.9%5.2%8.1%13.4%20.8%7.6%-0.5%4.15B-127.25B-716.6M1.151.32N/AN/A1,859,0912,143,9348,246,45714,030,650
2020-08-28$350.64$317.0016.8%4.9%8.1%11.8%20.7%5.9%0.1%6.79B-138.20B-707.6M1.091.34N/AN/A1,820,0871,992,2668,534,44214,416,638
2020-08-31$350.92$318.0018.8%5.4%7.6%14.8%21.4%7.3%0.4%3.92B-130.76B-720.2M1.371.38N/AN/A1,337,4241,826,1358,424,54614,069,290