SPY Options History — November 2021

In November 2021, SPY traded between $457.32 and $470.13. ATM implied volatility averaged 13.7%, placing in the 21.4% IV rank vs the trailing year. The 30-day expected move averaged 4.2%. IV traded above realized volatility by 6.1% (HV 20d: 7.7%). Max pain ranged from $436.00 to $449.00. Net GEX was positive for 16 of 21 trading days. Term structure was in contango for 13 of 21 days. Put/call ratio averaged 1.27.

Notable Days

  • 2021-11-05: Highest Volume — 6,624,461 contracts
  • 2021-11-26: Largest IV spike — 38.1% change
  • 2021-11-30: Highest IV Rank — 59.5%
  • 2021-11-30: Largest Expected Move — 6.4%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$465.96$457.32$470.13$459.70$457.32
Max Pain$443.52$436.00$449.00$445.00$449.00
ATM IV13.7%11.3%20.2%12.4%20.2%
Expected Move4.2%3.1%6.4%3.5%6.4%
HV 20d7.7%6.4%12.0%9.1%12.0%
HV 60d11.6%11.3%12.7%11.5%12.7%
IV Rank21.4%6.9%59.5%10.1%59.5%
IV Percentile37.5%6.3%96.0%20.2%96.0%
Term Structure0.1%-0.5%0.7%0.3%0.3%
VWIV16.8%12.4%24.8%15.1%24.8%
Skew 25d6.7%5.1%10.7%6.3%10.3%
Skew 10d13.4%10.3%21.4%13.0%21.3%
Call IV 25d11.4%9.5%15.8%10.4%15.8%
Put IV 25d18.1%14.6%26.2%16.6%26.2%
Bid-Ask Spread %1.481.361.741.361.63
Gamma HHI0.040.020.080.070.02
Net GEX3.06B-8.06B11.42B4.10B-4.61B
Net DEX-81.84B-123.28B3.91B-76.50B3.91B
Net VEX-672.8M-726.9M-628.0M-668.3M-720.0M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.270.951.491.191.45
Total Volume4,705,919.7142,997,9066,624,4614,069,9705,994,005
Total OI20,036,912.04818,352,22222,318,00718,732,14519,032,216

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2021-11-01$459.70$445.0012.4%3.5%9.1%10.1%15.1%6.3%0.3%4.10B-76.50B-668.3M1.191.36N/AN/A1,858,0562,211,9145,867,75312,864,392
2021-11-02$461.91$445.0012.1%3.4%8.5%9.5%14.4%5.8%0.3%2.87B-84.29B-665.7M1.321.47N/AN/A1,320,8811,741,8605,900,90412,862,577
2021-11-03$464.81$445.0011.3%3.1%8.4%6.9%12.4%5.1%-0.1%7.14B-104.61B-645.7M1.301.74N/AN/A1,638,6242,133,9506,093,47713,242,758
2021-11-04$465.89$436.0011.6%3.8%8.0%8.9%15.1%5.6%-0.1%6.07B-106.40B-658.3M1.131.39N/AN/A1,863,5502,102,8846,134,37013,181,066
2021-11-05$468.69$438.0011.7%3.8%7.9%9.5%16.7%5.2%0.4%11.42B-123.28B-663.1M0.951.42N/AN/A3,388,4003,236,0616,512,03613,574,813
2021-11-08$468.70$440.0012.2%3.9%7.2%13.0%16.0%5.8%0.4%5.69B-106.78B-676.8M1.131.36N/AN/A2,023,0852,292,3876,652,88013,344,400
2021-11-09$467.22$440.0013.3%4.1%6.8%19.1%17.2%6.5%0.4%2.86B-92.23B-687.1M1.431.41N/AN/A1,687,0932,416,9986,697,30313,406,463
2021-11-10$463.05$440.0014.6%4.4%8.2%26.6%18.0%7.3%-0.5%-3.90B-58.81B-703.8M1.401.50N/AN/A2,651,9813,714,2226,927,89713,808,947
2021-11-11$464.15$440.0013.5%4.1%6.5%20.4%16.7%6.7%-0.2%662.1M-76.44B-676.6M1.491.43N/AN/A1,205,4061,792,5006,957,69213,840,777
2021-11-12$467.18$441.0012.3%3.9%6.4%13.0%14.0%5.7%0.7%7.90B-103.79B-656.3M1.131.46N/AN/A2,294,6682,594,2787,134,72914,150,041
2021-11-15$466.79$442.0013.0%3.9%6.4%17.2%16.1%6.1%0.7%1.92B-97.08B-643.4M1.111.44N/AN/A1,949,9182,167,3497,027,61613,766,860
2021-11-16$469.75$442.0012.7%3.7%6.4%15.7%15.1%5.4%0.7%9.20B-118.65B-628.0M1.141.53N/AN/A1,587,9801,806,9157,068,65113,814,029
2021-11-17$468.67$442.0013.3%3.8%6.6%19.0%15.7%5.8%-0.3%2.87B-105.02B-646.1M1.161.44N/AN/A2,034,8722,368,4747,234,35014,227,427
2021-11-18$469.75$445.0013.3%3.9%6.6%19.3%15.2%6.3%-0.4%7.13B-111.01B-662.4M1.061.45N/AN/A1,936,7562,056,3727,262,81914,344,629
2021-11-19$468.91$445.0013.6%4.0%6.7%20.9%16.8%6.6%0.4%5.93B-102.99B-680.4M1.371.52N/AN/A1,882,6772,574,2737,577,15414,740,853
2021-11-22$470.13$447.0013.7%4.0%6.6%21.7%16.0%6.7%0.1%5.26B-79.36B-666.5M1.351.44N/AN/A2,607,3393,507,0236,456,18011,896,042
2021-11-23$467.85$447.0014.4%4.2%6.9%25.8%17.1%7.1%-0.4%-1.48B-55.57B-691.9M1.371.40N/AN/A2,420,1643,317,4646,506,59512,386,890
2021-11-24$469.00$448.0014.0%4.1%6.6%23.3%17.2%6.9%-0.3%1.77B-68.44B-676.8M1.271.42N/AN/A2,215,5722,810,3256,805,82812,845,685
2021-11-26$460.45$449.0019.4%6.0%9.5%54.6%23.8%10.7%0.1%-8.06B-1.94B-726.9M1.451.74N/AN/A2,294,7733,338,5456,730,45512,716,700
2021-11-29$465.32$448.0016.2%5.0%10.1%36.4%20.2%8.5%0.4%-510.5M-49.49B-685.2M1.421.46N/AN/A2,391,0583,393,6626,780,06312,398,836
2021-11-30$457.32$449.0020.2%6.4%12.0%59.5%24.8%10.3%0.3%-4.61B3.91B-720.0M1.451.63N/AN/A2,441,6943,552,3116,675,03812,357,178