SPY Options History — August 2021

In August 2021, SPY traded between $437.64 and $452.49. ATM implied volatility averaged 12.4%, placing in the 8.3% IV rank vs the trailing year. The 30-day expected move averaged 3.6%. IV traded above realized volatility by 2.4% (HV 20d: 10.0%). Max pain ranged from $424.00 to $433.00. Net GEX was positive for 18 of 22 trading days. Term structure was in contango for 13 of 22 days. Put/call ratio averaged 1.30.

Notable Days

  • 2021-08-19: Highest Volume — 5,108,036 contracts
  • 2021-08-27: Largest IV drop — 20.1% change
  • 2021-08-19: Highest IV Rank — 22.7%
  • 2021-08-19: Largest Expected Move — 4.6%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$444.53$437.64$452.49$437.64$451.70
Max Pain$428.77$424.00$433.00$430.00$433.00
ATM IV12.4%10.5%15.8%14.3%11.1%
Expected Move3.6%2.9%4.6%3.8%3.0%
HV 20d10.0%6.8%14.1%14.0%7.4%
HV 60d10.6%9.8%12.4%12.4%10.1%
IV Rank8.3%0.4%22.7%16.3%2.7%
IV Percentile12.6%0.8%38.5%26.6%2.8%
Term Structure0.1%-0.4%0.7%0.3%0.2%
VWIV14.9%11.1%18.6%15.9%13.3%
Skew 25d7.0%5.7%9.4%8.3%6.8%
Skew 10d13.8%11.3%17.6%16.2%13.5%
Call IV 25d10.2%8.9%12.8%11.5%9.5%
Put IV 25d17.2%14.6%22.1%19.8%16.3%
Bid-Ask Spread %1.411.041.811.241.46
Gamma HHI0.050.020.130.030.05
Net GEX5.29B-5.20B13.23B-526.5M6.35B
Net DEX-66.09B-103.88B-28.09B-33.69B-88.75B
Net VEX-660.5M-708.8M-621.4M-692.5M-660.2M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.301.001.791.151.24
Total Volume3,469,538.0451,950,3705,108,0363,647,2622,628,922
Total OI18,533,398.77317,391,59120,654,90717,391,59118,509,024

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2021-08-02$437.64$430.0014.3%3.8%14.0%16.3%15.9%8.3%0.3%-526.5M-33.69B-692.5M1.151.24N/AN/A1,693,1921,954,0705,506,16011,885,431
2021-08-03$440.70$431.0013.0%3.3%14.1%10.9%14.6%7.2%0.3%3.29B-54.06B-671.3M1.711.04N/AN/A1,261,5172,152,4415,547,65912,107,405
2021-08-04$439.65$432.0013.1%3.3%14.1%11.3%13.4%7.3%-0.3%3.22B-45.62B-684.1M1.221.30N/AN/A1,351,2031,642,8505,759,53012,527,075
2021-08-05$441.17$424.0012.8%3.9%13.5%10.1%15.6%7.3%-0.2%3.93B-54.35B-677.8M1.051.30N/AN/A951,030999,3405,676,56012,566,325
2021-08-06$442.15$424.0012.0%3.7%12.8%6.5%15.0%6.3%-0.2%10.15B-68.64B-649.7M1.321.25N/AN/A1,404,9841,861,2735,848,48012,815,680
2021-08-09$442.18$425.0011.9%3.7%12.7%6.4%16.4%6.3%0.4%4.12B-60.62B-641.3M1.421.28N/AN/A1,070,4851,520,5055,582,16012,182,807
2021-08-10$442.43$425.0012.1%3.7%12.7%7.2%14.6%6.6%0.2%3.45B-58.53B-645.4M1.251.34N/AN/A1,065,4441,332,9625,621,95212,453,964
2021-08-11$443.49$425.0011.8%3.6%12.7%5.6%18.0%6.3%-0.1%6.38B-66.50B-645.4M1.401.42N/AN/A1,193,7791,666,6295,796,98712,793,667
2021-08-12$444.96$426.0011.1%3.4%12.6%3.0%15.2%6.3%-0.1%8.12B-75.72B-637.5M1.591.46N/AN/A930,3221,476,2495,749,94312,847,684
2021-08-13$445.68$426.0010.6%3.3%12.2%0.8%14.0%5.7%0.3%13.23B-85.06B-628.4M1.451.44N/AN/A1,251,7241,812,1095,907,08713,213,739
2021-08-16$446.46$427.0011.4%3.5%9.2%4.2%14.5%6.4%0.7%7.20B-85.79B-621.4M1.381.52N/AN/A1,747,8852,411,3155,693,60312,868,453
2021-08-17$442.89$428.0013.3%3.9%7.0%12.0%15.5%7.2%0.5%-548.8M-50.61B-659.3M1.001.42N/AN/A2,548,3052,553,5575,701,98613,096,117
2021-08-18$440.60$429.0014.7%4.2%7.2%18.1%16.9%8.3%-0.4%-5.20B-28.09B-683.3M1.081.81N/AN/A2,065,8982,237,5615,963,86513,671,685
2021-08-19$439.82$430.0015.8%4.6%7.2%22.7%18.6%9.4%-0.4%-1.74B-29.59B-708.8M1.441.18N/AN/A2,094,8763,013,1606,261,12613,699,479
2021-08-20$443.60$430.0012.8%3.7%6.8%10.2%17.0%7.5%0.4%5.11B-65.06B-686.8M1.351.52N/AN/A1,886,6002,553,3536,546,38914,108,518
2021-08-23$447.60$430.0011.8%3.3%7.5%5.9%14.2%7.1%0.4%7.30B-78.06B-652.0M1.121.48N/AN/A1,913,4482,140,7935,763,80111,733,169
2021-08-24$448.02$430.0011.9%3.3%7.1%6.0%13.5%7.1%0.3%7.81B-77.77B-668.8M1.111.46N/AN/A1,178,3291,307,1375,854,59211,838,392
2021-08-25$449.35$432.0011.4%3.2%7.1%4.3%13.0%6.9%-0.4%10.50B-89.53B-649.3M1.271.55N/AN/A1,383,5261,762,4796,064,06312,350,805
2021-08-26$446.49$432.0013.2%3.7%7.5%11.6%15.8%8.0%0.1%3.52B-56.63B-694.8M1.791.56N/AN/A1,408,1972,518,4616,036,79612,297,609
2021-08-27$450.54$432.0010.5%2.9%7.6%0.4%11.9%5.9%0.6%10.13B-97.35B-649.9M1.201.51N/AN/A2,158,2762,583,2246,255,51712,768,828
2021-08-30$452.49$432.0011.6%3.0%7.6%5.1%11.1%5.7%-0.4%10.48B-103.88B-622.5M1.071.47N/AN/A1,758,3861,884,0415,946,77312,313,888
2021-08-31$451.70$433.0011.1%3.0%7.4%2.7%13.3%6.8%0.2%6.35B-88.75B-660.2M1.241.46N/AN/A1,172,7801,456,1426,144,00412,365,020