SPY Options History — November 2022

In November 2022, SPY traded between $372.24 and $406.01. ATM implied volatility averaged 22.2%, placing in the 52.7% IV rank vs the trailing year. The 30-day expected move averaged 6.8%. IV traded below realized volatility by 3.9% (HV 20d: 26.1%). Max pain ranged from $381.00 to $389.00. Net GEX was positive for 8 of 21 trading days. Term structure was in contango for 7 of 21 days. Put/call ratio averaged 1.25.

Notable Days

  • 2022-11-04: Highest Volume — 9,611,850 contracts
  • 2022-11-10: Largest IV drop — 11.6% change
  • 2022-11-02: Highest IV Rank — 66.8%
  • 2022-11-01: Largest Expected Move — 7.8%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$391.24$372.24$406.01$384.91$406.01
Max Pain$384.43$381.00$389.00$381.00$388.00
ATM IV22.2%19.3%24.6%24.5%19.5%
Expected Move6.8%5.8%7.8%7.8%6.5%
HV 20d26.1%23.4%29.7%24.9%27.0%
HV 60d26.2%24.7%27.5%24.8%27.0%
IV Rank52.7%36.8%66.8%66.0%37.7%
IV Percentile46.7%25.4%65.5%64.3%26.2%
Term Structure-0.1%-0.8%1.9%0.3%-0.2%
VWIV24.5%21.3%27.5%27.5%23.6%
Skew 25d3.8%2.6%4.7%3.2%3.6%
Skew 10d7.3%4.8%9.1%5.8%7.2%
Call IV 25d20.3%17.4%23.0%22.6%17.9%
Put IV 25d24.1%21.5%26.3%25.8%21.5%
Bid-Ask Spread %1.040.821.310.941.28
Gamma HHI0.030.020.070.020.03
Net GEX-1.66B-8.08B5.52B-2.43B3.32B
Net DEX-6.81B-76.52B79.07B9.77B-59.69B
Net VEX-631.0M-657.3M-601.8M-657.3M-601.8M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.251.031.521.311.32
Total Volume7,078,5112,210,4549,611,8504,843,9448,568,055
Total OI21,682,110.8119,735,96423,923,35120,671,97920,888,699

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2022-11-01$384.91$381.0024.5%7.8%24.9%66.0%27.5%3.2%0.3%-2.43B9.77B-657.3M1.310.94N/AN/A2,100,4892,743,4557,552,95913,119,020
2022-11-02$376.66$382.0024.6%7.7%26.1%66.8%26.8%3.2%-0.5%-7.34B58.16B-654.8M1.231.12N/AN/A3,486,1774,297,4267,895,49713,760,491
2022-11-03$372.24$383.0024.1%7.4%26.1%64.3%26.3%2.6%-0.5%-8.08B79.07B-638.8M1.521.10N/AN/A2,651,6224,027,9377,843,68013,666,427
2022-11-04$375.89$383.0023.3%7.3%23.6%59.7%26.1%2.7%0.2%-5.71B52.41B-650.7M1.310.96N/AN/A4,155,8295,456,0218,381,96014,242,798
2022-11-07$380.03$383.0023.1%7.2%23.8%58.5%25.8%2.7%0.3%-2.25B23.82B-630.1M1.210.82N/AN/A2,870,2593,474,2128,018,54713,576,543
2022-11-08$383.25$383.0023.8%7.4%23.4%60.6%26.4%3.2%0.2%-2.44B9.91B-638.7M1.270.93N/AN/A3,047,9733,871,1857,951,97413,527,149
2022-11-09$374.49$383.0024.6%7.6%25.2%64.8%27.1%3.6%-0.6%-7.99B68.56B-647.3M1.260.84N/AN/A3,298,1784,161,6518,284,52514,147,794
2022-11-10$393.91$382.0021.7%6.9%29.7%49.8%24.9%3.0%-0.6%1.86B-46.42B-628.9M1.251.31N/AN/A3,750,3894,690,6188,157,74614,107,812
2022-11-11$399.00$383.0020.2%6.6%28.2%42.0%23.8%3.4%1.9%5.52B-76.52B-627.2M1.070.92N/AN/A4,163,6574,443,5558,595,63714,694,646
2022-11-14$397.04$383.0022.2%6.7%27.4%52.3%23.9%4.2%1.0%685.9M-46.80B-624.5M1.221.03N/AN/A3,239,5863,948,7328,259,70114,013,966
2022-11-15$398.48$384.0023.1%6.7%27.3%56.6%24.4%4.6%0.8%781.0M-46.66B-644.8M1.211.02N/AN/A4,356,3845,250,0618,342,68414,257,943
2022-11-16$395.54$385.0023.4%6.7%27.3%58.5%23.9%4.7%-0.7%-2.29B-26.88B-641.7M1.340.90N/AN/A2,669,0553,583,4308,526,50414,746,017
2022-11-17$393.07$385.0023.5%6.8%27.3%58.8%24.7%4.3%-0.8%-3.74B-8.87B-640.5M1.350.91N/AN/A3,151,1624,251,4708,452,74714,675,737
2022-11-18$396.26$385.0022.5%6.5%26.2%53.6%23.4%4.3%-0.7%-262.1M-32.94B-641.5M1.030.99N/AN/A3,696,5893,823,9588,670,72615,252,625
2022-11-21$394.38$385.0021.8%6.5%26.0%49.9%23.2%4.3%-0.6%-3.22B1.79B-617.5M1.211.02N/AN/A2,763,2503,346,3717,353,64612,382,318
2022-11-22$399.78$385.0020.4%6.1%25.9%42.7%21.8%4.3%-0.5%2.99B-33.22B-603.4M1.281.13N/AN/A2,746,3213,515,5767,472,21112,326,593
2022-11-23$401.93$386.0019.4%5.8%25.8%37.1%21.3%4.3%-0.4%3.01B-44.50B-605.2M1.121.20N/AN/A3,813,2664,287,9707,687,83012,848,406
2022-11-25$402.46$387.0019.3%5.9%25.6%36.8%21.6%4.6%-0.5%2.35B-43.25B-618.0M1.271.20N/AN/A971,9441,238,5107,824,64513,183,657
2022-11-28$395.73$388.0021.0%6.7%25.5%45.7%23.7%4.6%-0.1%-4.49B7.29B-617.7M1.241.10N/AN/A2,832,8443,519,1817,509,62212,580,385
2022-11-29$394.94$389.0020.8%6.8%25.5%44.8%24.1%4.3%-0.0%-5.10B11.97B-620.0M1.261.13N/AN/A2,820,1783,564,2057,673,60012,868,860
2022-11-30$406.01$388.0019.5%6.5%27.0%37.7%23.6%3.6%-0.2%3.32B-59.69B-601.8M1.321.28N/AN/A3,687,9354,880,1207,761,53813,127,161