SPY Options History — October 2021

In October 2021, SPY traded between $428.95 and $458.73. ATM implied volatility averaged 14.3%, placing in the 17.7% IV rank vs the trailing year. The 30-day expected move averaged 4.1%. IV traded below realized volatility by 0.4% (HV 20d: 14.6%). Max pain ranged from $438.00 to $445.00. Net GEX was positive for 13 of 21 trading days. Term structure was in contango for 10 of 21 days. Put/call ratio averaged 1.30.

Notable Days

  • 2021-10-01: Highest Volume — 6,678,961 contracts
  • 2021-10-14: Largest IV drop — 14.7% change
  • 2021-10-04: Highest IV Rank — 40.7%
  • 2021-10-04: Largest Expected Move — 5.5%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$444.70$428.95$458.73$434.42$458.73
Max Pain$440.71$438.00$445.00$442.00$445.00
ATM IV14.3%11.5%19.8%17.4%12.0%
Expected Move4.1%3.3%5.5%5.1%3.5%
HV 20d14.6%10.7%17.2%14.5%10.7%
HV 60d11.9%11.2%12.7%12.2%11.5%
IV Rank17.7%6.2%40.7%30.6%8.5%
IV Percentile35.8%8.7%83.7%64.3%16.3%
Term Structure0.0%-0.4%0.4%0.3%0.4%
VWIV16.6%14.1%20.6%19.4%15.9%
Skew 25d6.8%5.2%8.8%8.7%6.3%
Skew 10d13.1%11.1%16.0%15.8%12.6%
Call IV 25d11.6%9.7%15.5%13.3%9.9%
Put IV 25d18.4%15.1%24.2%22.0%16.2%
Bid-Ask Spread %1.120.931.401.021.20
Gamma HHI0.040.020.060.040.06
Net GEX837.2M-8.51B7.78B-8.51B5.52B
Net DEX-30.57B-84.16B54.03B36.04B-84.16B
Net VEX-667.7M-697.1M-635.7M-697.1M-692.7M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.301.121.571.291.57
Total Volume4,698,603.3333,318,0276,678,9616,678,9614,742,227
Total OI18,469,092.57116,507,07319,827,62518,017,74619,827,625

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2021-10-01$434.42$442.0017.4%5.1%14.5%30.6%19.4%8.7%0.3%-8.51B36.04B-697.1M1.291.02N/AN/A2,918,8413,760,1206,235,08111,782,665
2021-10-04$428.95$440.0019.8%5.5%14.9%40.7%20.6%8.8%-0.1%-7.79B54.03B-684.2M1.181.07N/AN/A2,884,1463,396,1666,082,16511,289,441
2021-10-05$434.29$440.0017.6%5.1%15.9%31.7%19.3%8.4%0.2%-4.80B22.93B-681.7M1.220.95N/AN/A1,750,6812,137,0316,049,26911,420,714
2021-10-06$433.99$439.0018.2%5.1%15.9%33.8%20.1%8.4%-0.4%-3.05B18.38B-685.4M1.261.12N/AN/A2,660,8873,358,1686,417,33111,864,129
2021-10-07$438.65$438.0016.1%4.7%16.5%25.1%18.7%7.8%-0.1%446.1M-9.17B-689.2M1.281.04N/AN/A2,143,3222,745,7266,458,58112,012,279
2021-10-08$438.12$438.0015.4%4.5%16.2%22.2%17.2%7.3%0.3%827.4M-9.44B-677.8M1.341.09N/AN/A2,030,5412,729,4576,777,51112,355,293
2021-10-11$435.54$440.0016.3%4.7%16.3%26.2%17.8%7.7%0.1%-5.46B14.17B-666.5M1.351.07N/AN/A1,915,8772,593,4006,367,41712,051,389
2021-10-12$433.09$440.0016.8%4.8%16.4%28.1%18.4%7.7%0.1%-7.13B29.21B-660.9M1.371.10N/AN/A1,496,7342,047,8296,449,51012,127,148
2021-10-13$434.80$440.0015.6%4.5%15.9%23.3%17.4%7.1%-0.2%-7.31B19.19B-650.7M1.291.17N/AN/A1,987,8972,557,3436,801,36512,482,708
2021-10-14$441.99$440.0013.3%3.9%17.2%13.7%16.8%6.2%-0.2%2.93B-33.43B-650.1M1.451.29N/AN/A2,108,4553,065,5816,691,57212,368,546
2021-10-15$445.64$440.0012.1%3.6%16.7%8.5%15.1%5.9%0.3%6.66B-65.99B-638.8M1.301.40N/AN/A2,252,0222,938,6326,902,66812,646,215
2021-10-18$447.27$440.0012.6%3.6%14.7%10.6%15.6%6.0%0.1%6.05B-56.24B-635.7M1.121.35N/AN/A1,837,3002,057,5665,547,11510,959,958
2021-10-19$450.04$440.0012.2%3.5%14.7%8.9%14.6%5.6%0.3%5.46B-63.25B-649.0M1.261.00N/AN/A1,744,4942,203,1595,640,23011,297,716
2021-10-20$452.07$440.0012.0%3.5%14.5%8.4%14.3%5.2%-0.1%7.78B-74.10B-656.6M1.151.05N/AN/A2,269,1042,599,7906,017,90012,315,898
2021-10-21$453.05$440.0011.5%3.3%14.0%6.2%14.5%5.3%-0.1%5.87B-74.26B-650.6M1.220.93N/AN/A1,495,3811,828,9246,047,93012,403,453
2021-10-22$453.15$440.0011.8%3.4%14.0%7.2%14.4%6.0%0.3%6.35B-72.54B-667.8M1.240.95N/AN/A2,511,7433,115,5206,202,30312,720,178
2021-10-25$455.30$442.0012.0%3.4%14.0%8.2%14.6%5.6%-0.1%6.33B-75.87B-651.5M1.221.09N/AN/A1,779,5612,167,9115,945,71712,355,913
2021-10-26$457.22$443.0012.0%3.4%11.5%8.1%14.1%5.7%-0.1%4.95B-80.43B-659.1M1.281.22N/AN/A2,213,8692,823,5475,958,25312,382,929
2021-10-27$455.12$443.0012.9%3.7%11.8%11.8%14.9%6.4%-0.1%-1.35B-62.11B-682.8M1.431.25N/AN/A1,847,4282,636,2636,238,75913,055,969
2021-10-28$457.21$445.0012.4%3.6%10.9%9.7%14.7%6.1%-0.4%3.82B-74.93B-692.8M1.521.20N/AN/A1,315,6192,002,4086,188,26913,111,832
2021-10-29$458.73$445.0012.0%3.5%10.7%8.5%15.9%6.3%0.4%5.52B-84.16B-692.7M1.571.20N/AN/A1,841,7622,900,4656,311,38513,516,240