SPY Options History — December 2021

In December 2021, SPY traded between $450.55 and $478.11. ATM implied volatility averaged 16.2%, placing in the 36.1% IV rank vs the trailing year. The 30-day expected move averaged 4.8%. IV traded below realized volatility by 0.6% (HV 20d: 16.8%). Max pain ranged from $443.00 to $456.00. Net GEX was positive for 15 of 22 trading days. Term structure was in contango for 13 of 22 days. Put/call ratio averaged 1.24.

Notable Days

  • 2021-12-03: Highest Volume — 8,294,761 contracts
  • 2021-12-06: Largest IV drop — 16.7% change
  • 2021-12-03: Highest IV Rank — 79.5%
  • 2021-12-03: Largest Expected Move — 7.8%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$466.53$450.55$478.11$454.53$476.48
Max Pain$449.36$443.00$456.00$448.00$456.00
ATM IV16.2%12.5%23.6%21.7%12.5%
Expected Move4.8%3.4%7.8%6.9%3.4%
HV 20d16.8%12.0%20.2%12.0%17.3%
HV 60d13.6%12.7%14.2%12.7%13.2%
IV Rank36.1%14.7%79.5%68.2%14.7%
IV Percentile61.4%23.8%99.2%97.2%23.8%
Term Structure-0.0%-0.9%0.6%-0.5%0.3%
VWIV19.6%14.0%30.8%25.8%14.2%
Skew 25d7.7%5.6%12.5%11.0%5.7%
Skew 10d14.9%10.9%25.3%22.6%10.9%
Call IV 25d13.3%10.4%18.5%17.2%10.4%
Put IV 25d21.0%16.0%31.0%28.2%16.0%
Bid-Ask Spread %1.441.071.861.811.58
Gamma HHI0.040.020.090.020.04
Net GEX2.40B-9.28B12.21B-6.47B2.46B
Net DEX-45.35B-97.71B45.62B19.76B-61.86B
Net VEX-636.5M-751.9M-586.6M-735.2M-598.1M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.240.841.781.500.99
Total Volume4,986,037.1362,959,8888,294,7617,669,6653,781,346
Total OI18,605,228.90915,660,13020,617,26619,968,53017,492,810

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2021-12-01$454.53$448.0021.7%6.9%12.0%68.2%25.8%11.0%-0.5%-6.47B19.76B-735.2M1.501.81N/AN/A3,071,6624,598,0037,106,68812,861,842
2021-12-02$458.22$449.0020.3%6.4%12.2%60.0%26.5%10.4%-0.4%-3.19B-6.74B-737.6M1.781.51N/AN/A2,031,3193,615,3857,051,15012,907,787
2021-12-03$450.55$449.0023.6%7.8%13.4%79.5%30.8%12.5%0.4%-9.28B45.62B-751.9M1.671.69N/AN/A3,102,5705,192,1917,240,37113,376,895
2021-12-06$458.61$443.0019.7%5.7%14.8%56.4%24.4%10.5%0.4%-292.2M-18.36B-710.7M1.551.31N/AN/A2,083,2753,235,8157,029,97412,871,495
2021-12-07$467.01$443.0016.6%4.9%16.3%38.7%20.6%8.2%0.4%4.86B-76.99B-657.4M1.581.07N/AN/A1,840,4662,910,6306,858,75012,894,003
2021-12-08$469.41$445.0015.0%4.5%16.4%29.3%18.8%6.7%-0.5%6.82B-93.89B-630.0M1.291.17N/AN/A1,807,4202,339,0496,989,21613,444,630
2021-12-09$467.40$445.0015.5%4.6%16.1%32.1%19.0%7.4%-0.5%2.84B-72.74B-632.0M1.411.25N/AN/A1,441,2292,033,1896,811,28813,117,301
2021-12-10$470.15$445.0013.6%4.1%16.2%21.0%18.1%6.7%0.4%9.31B-97.71B-605.5M1.571.31N/AN/A1,860,3332,925,8206,986,59413,462,356
2021-12-13$468.23$445.0014.9%4.4%16.2%28.7%18.3%6.9%0.3%2.03B-77.12B-594.3M1.231.37N/AN/A1,898,6492,336,8886,707,40812,881,418
2021-12-14$463.00$445.0017.2%4.9%16.7%41.9%21.0%7.7%0.0%-1.25B-38.76B-614.9M1.281.31N/AN/A1,837,4392,352,7706,710,04212,906,971
2021-12-15$468.74$445.0015.0%4.3%17.1%29.3%18.8%7.0%-0.7%7.06B-82.56B-599.2M1.171.86N/AN/A2,696,0313,165,4736,927,73913,184,300
2021-12-16$466.88$447.0016.1%4.6%17.1%35.7%18.1%7.4%-0.3%2.26B-63.30B-617.1M0.841.51N/AN/A3,287,9222,759,5086,793,75313,233,125
2021-12-17$461.07$452.0017.4%5.1%17.7%43.2%20.2%8.3%-0.9%-9.05B16.88B-649.1M1.131.39N/AN/A2,857,1933,240,9786,181,79013,696,576
2021-12-20$454.05$452.0019.7%5.7%18.4%56.4%21.8%8.6%0.2%-6.35B31.99B-638.2M1.201.35N/AN/A2,620,9923,154,1695,447,26710,212,863
2021-12-21$461.48$451.0017.4%5.1%19.4%43.4%20.8%8.1%0.6%261.3M-10.18B-639.9M1.141.36N/AN/A2,018,5112,295,9385,544,80010,264,812
2021-12-22$466.89$452.0015.0%4.3%19.8%29.1%18.7%6.9%0.1%5.27B-41.55B-622.6M1.091.39N/AN/A2,261,1602,467,3215,746,51610,755,780
2021-12-23$471.94$454.0013.2%3.8%20.2%18.4%16.8%5.9%-0.1%9.00B-65.57B-609.7M0.931.50N/AN/A2,332,5862,166,5375,693,24611,040,885
2021-12-27$476.60$455.0013.2%3.6%19.2%18.8%15.3%5.9%0.2%10.51B-79.65B-590.0M0.971.54N/AN/A2,594,4132,521,2985,465,05010,838,017
2021-12-28$477.55$455.0013.0%3.5%18.9%17.2%15.2%5.7%0.4%8.35B-77.62B-586.6M0.921.48N/AN/A2,227,3962,045,1225,444,97411,060,271
2021-12-29$478.11$455.0012.6%3.4%17.6%15.2%14.8%5.6%-0.2%12.21B-80.61B-590.0M1.051.48N/AN/A1,812,9921,911,9415,740,73411,435,261
2021-12-30$476.75$455.0012.9%3.5%17.4%16.6%14.0%5.9%0.1%5.50B-66.76B-592.1M1.041.42N/AN/A1,453,9151,505,9735,555,68311,342,605
2021-12-31$476.48$456.0012.5%3.4%17.3%14.7%14.2%5.7%0.3%2.46B-61.86B-598.1M0.991.58N/AN/A1,897,3961,883,9505,787,07311,705,737