SPY Options History — September 2022

In September 2022, SPY traded between $359.43 and $410.50. ATM implied volatility averaged 25.0%, placing in the 68.7% IV rank vs the trailing year. The 30-day expected move averaged 7.3%. IV traded above realized volatility by 1.7% (HV 20d: 23.2%). Max pain ranged from $390.00 to $410.00. Net GEX was positive for 1 of 21 trading days. Term structure was in contango for 12 of 21 days. Put/call ratio averaged 1.44.

Notable Days

  • 2022-09-23: Highest Volume — 12,482,996 contracts
  • 2022-09-13: Largest IV spike — 16.9% change
  • 2022-09-27: Highest IV Rank — 93.9%
  • 2022-09-27: Largest Expected Move — 8.8%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$384.45$359.43$410.50$394.29$359.43
Max Pain$404.67$390.00$410.00$409.00$390.00
ATM IV25.0%20.0%30.0%23.3%27.9%
Expected Move7.3%6.0%8.8%7.0%8.4%
HV 20d23.2%19.0%26.4%19.4%26.4%
HV 60d22.0%21.0%24.0%24.0%22.5%
IV Rank68.7%43.5%93.9%62.3%83.2%
IV Percentile78.1%51.2%98.8%70.2%93.3%
Term Structure-0.1%-0.9%0.5%-0.6%0.5%
VWIV26.3%23.0%31.1%25.1%29.3%
Skew 25d5.8%4.4%7.3%6.4%6.4%
Skew 10d11.0%8.1%14.5%11.7%13.5%
Call IV 25d22.2%18.3%26.1%20.8%24.2%
Put IV 25d27.9%22.7%33.3%27.2%30.7%
Bid-Ask Spread %1.250.861.751.360.95
Gamma HHI0.050.030.070.040.05
Net GEX-8.05B-13.28B1.74B-8.78B-10.41B
Net DEX104.07B-4.98B164.02B102.84B155.81B
Net VEX-651.0M-675.8M-626.2M-675.8M-658.9M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.441.151.741.401.28
Total Volume8,379,753.4296,317,16612,482,9966,941,5339,242,605
Total OI20,104,681.42917,571,86021,778,70419,871,37221,778,704

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2022-09-01$394.29$409.0023.3%7.0%19.4%62.3%25.1%6.4%-0.6%-8.78B102.84B-675.8M1.401.36N/AN/A2,895,4174,046,1167,358,88212,512,490
2022-09-02$391.07$408.0023.2%7.0%19.5%62.0%24.4%5.9%0.0%-10.72B117.28B-672.7M1.331.75N/AN/A4,086,4435,455,1967,759,75112,989,397
2022-09-06$391.05$410.0024.0%6.9%19.5%65.8%24.7%6.2%0.5%-9.04B107.52B-651.3M1.521.28N/AN/A3,345,3815,091,5897,492,08912,507,673
2022-09-07$398.00$410.0022.3%6.4%20.8%54.8%24.1%5.5%-0.9%-4.71B61.91B-658.1M1.461.28N/AN/A3,143,6164,575,5957,556,01912,772,157
2022-09-08$398.81$410.0021.5%6.3%19.0%50.9%23.0%5.0%-0.3%-5.76B59.24B-653.9M1.481.24N/AN/A2,942,7074,349,3457,480,52212,943,789
2022-09-09$407.17$410.0020.0%6.0%20.7%43.5%23.2%4.4%0.3%1.74B3.06B-655.0M1.511.43N/AN/A3,277,4844,936,7707,791,41413,346,059
2022-09-12$410.50$410.0021.3%6.2%19.9%50.0%23.4%4.4%0.4%-679.5M-4.98B-647.8M1.351.35N/AN/A3,305,9514,452,3797,459,13212,938,294
2022-09-13$392.45$410.0024.9%7.1%24.8%68.0%25.7%5.9%0.4%-9.22B108.84B-660.4M1.741.31N/AN/A2,958,6085,144,9447,537,57013,074,482
2022-09-14$394.78$410.0023.8%6.8%25.0%62.6%24.3%5.8%-0.5%-9.83B94.79B-659.0M1.431.22N/AN/A3,254,0724,662,1008,025,30213,626,804
2022-09-15$390.94$410.0023.8%6.8%25.0%62.8%24.8%5.4%-0.5%-10.05B110.29B-652.5M1.231.35N/AN/A3,488,1924,292,6237,750,97213,498,005
2022-09-16$385.24$410.0024.7%7.1%25.1%67.1%25.5%5.4%0.2%-13.28B144.39B-651.7M1.711.30N/AN/A3,684,8986,297,5737,922,60513,843,971
2022-09-19$387.88$409.0024.3%7.0%25.2%64.9%25.2%5.1%0.2%-7.10B84.06B-639.0M1.451.32N/AN/A2,806,0974,079,2826,345,25611,226,604
2022-09-20$385.26$406.0025.6%7.4%24.3%71.8%26.8%5.5%0.1%-7.91B94.17B-643.1M1.341.29N/AN/A2,702,7563,614,4106,304,49111,342,898
2022-09-21$378.51$405.0026.7%7.7%24.8%77.2%26.9%5.5%-0.7%-10.17B123.22B-632.5M1.151.42N/AN/A4,024,9334,628,8056,764,34611,741,755
2022-09-22$377.35$404.0025.2%7.3%24.6%69.6%25.8%4.8%-0.7%-10.04B121.18B-628.2M1.561.50N/AN/A3,038,3384,751,4096,842,85011,649,248
2022-09-23$367.60$400.0027.1%7.9%25.1%79.3%28.9%6.2%0.1%-11.80B164.02B-626.2M1.591.26N/AN/A4,813,6287,669,3687,410,80012,157,277
2022-09-26$365.57$400.0028.6%8.5%23.4%86.8%30.2%6.5%0.2%-9.42B149.18B-632.4M1.400.98N/AN/A3,609,8405,057,4357,364,44612,219,316
2022-09-27$363.00$395.0030.0%8.8%23.4%93.9%31.1%7.3%0.2%-9.22B150.36B-637.6M1.420.89N/AN/A3,608,3325,110,2887,404,00012,199,043
2022-09-28$371.81$392.0027.4%8.0%25.3%80.4%29.7%6.5%-0.7%-2.80B93.26B-674.8M1.460.86N/AN/A3,763,5555,500,1537,987,79712,537,924
2022-09-29$362.74$390.0028.4%8.5%26.4%85.8%30.5%6.9%-0.8%-9.78B145.10B-660.8M1.400.90N/AN/A3,450,2814,816,3087,920,40012,813,776
2022-09-30$359.43$390.0027.9%8.4%26.4%83.2%29.3%6.4%0.5%-10.41B155.81B-658.9M1.280.95N/AN/A4,061,3305,181,2758,594,31513,184,389