SPY Options History — August 2023

In August 2023, SPY traded between $436.02 and $456.44. ATM implied volatility averaged 13.8%, placing in the 14.8% IV rank vs the trailing year. The 30-day expected move averaged 4.0%. IV traded above realized volatility by 3.4% (HV 20d: 10.4%). Max pain ranged from $438.00 to $440.00. Net GEX was positive for 3 of 23 trading days. Term structure was in contango for 12 of 23 days. Put/call ratio averaged 1.31.

Notable Days

  • 2023-08-10: Highest Volume — 10,702,642 contracts
  • 2023-08-02: Largest IV spike — 14.9% change
  • 2023-08-17: Highest IV Rank — 26.9%
  • 2023-08-17: Largest Expected Move — 4.6%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$445.03$436.02$456.44$456.44$451.49
Max Pain$439.26$438.00$440.00$440.00$439.00
ATM IV13.8%11.5%16.2%11.9%11.5%
Expected Move4.0%3.2%4.6%3.2%3.3%
HV 20d10.4%8.9%12.9%8.9%12.0%
HV 60d10.7%10.5%10.9%10.6%10.9%
IV Rank14.8%3.7%26.9%5.4%3.7%
IV Percentile20.3%7.9%32.9%12.3%7.9%
Term Structure0.1%-0.2%0.5%-0.1%0.3%
VWIV15.0%11.8%17.1%11.9%11.8%
Skew 25d4.3%3.0%5.2%3.1%3.0%
Skew 10d9.3%5.9%11.6%6.9%5.9%
Call IV 25d11.8%10.4%13.7%10.4%10.4%
Put IV 25d16.1%13.4%18.9%13.5%13.4%
Bid-Ask Spread %1.861.272.231.831.76
Gamma HHI0.030.020.060.030.03
Net GEX-6.89B-15.10B3.14B-1.67B2.44B
Net DEX-12.48B-85.04B56.39B-85.04B-68.80B
Net VEX-762.1M-806.2M-678.3M-703.0M-678.3M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.311.071.681.211.15
Total Volume7,965,554.7395,582,27210,702,6425,582,2727,056,139
Total OI21,169,971.04319,452,70922,865,26920,409,72621,553,369

Daily Data (23 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2023-08-01$456.44$440.0011.9%3.2%8.9%5.4%11.9%3.1%-0.1%-1.67B-85.04B-703.0M1.211.83N/AN/A2,522,0063,060,2666,560,75613,848,970
2023-08-02$450.19$440.0013.7%3.8%10.4%14.2%14.2%4.1%-0.1%-10.39B-25.58B-779.3M1.261.69N/AN/A3,919,5834,931,5506,658,88014,047,240
2023-08-03$449.19$439.0013.6%4.0%9.8%14.1%15.4%4.4%-0.2%-8.89B-27.41B-779.5M1.371.27N/AN/A2,859,5573,919,1547,001,97814,353,585
2023-08-04$446.63$439.0014.2%4.2%10.1%16.9%16.3%4.9%-0.2%-10.67B-6.10B-803.8M1.321.73N/AN/A4,010,3585,283,0397,002,93214,488,040
2023-08-07$449.93$440.0013.2%3.9%10.3%12.2%15.0%4.7%0.4%-2.26B-44.70B-751.4M1.521.70N/AN/A2,459,0053,738,1606,836,66814,177,197
2023-08-08$449.12$440.0013.4%3.9%10.1%12.8%16.9%4.5%0.4%-9.05B-30.15B-777.7M1.231.76N/AN/A3,337,1814,096,8646,846,07414,492,490
2023-08-09$446.81$440.0013.7%4.0%9.8%14.2%15.0%4.4%0.4%-8.63B-16.49B-788.4M1.071.73N/AN/A3,755,2354,012,0417,058,71114,665,254
2023-08-10$445.11$440.0014.1%4.1%9.3%16.2%16.5%4.4%0.3%-10.48B-4.41B-792.9M1.271.80N/AN/A4,711,7825,990,8607,204,99914,854,865
2023-08-11$445.50$440.0013.3%3.9%9.3%12.3%14.9%3.9%0.5%-9.69B-8.38B-789.8M1.211.90N/AN/A3,669,9344,458,1297,338,09615,206,228
2023-08-14$447.50$440.0013.2%3.8%9.2%12.1%14.4%4.3%-0.1%-3.07B-38.19B-735.0M1.241.94N/AN/A3,133,8373,884,6686,963,23014,644,443
2023-08-15$442.53$440.0014.6%4.2%9.5%18.8%15.8%4.6%0.1%-13.54B17.37B-789.0M1.192.03N/AN/A3,627,0264,324,7817,007,96315,016,154
2023-08-16$440.32$440.0015.1%4.3%9.5%21.3%15.4%4.8%-0.1%-12.70B24.83B-793.5M1.122.01N/AN/A4,069,1004,565,4317,183,83014,999,361
2023-08-17$436.02$440.0016.2%4.6%9.7%26.9%17.1%5.2%-0.1%-15.10B56.39B-806.2M1.381.82N/AN/A4,294,5785,914,9257,315,65415,132,424
2023-08-18$437.07$439.0015.3%4.4%9.8%22.7%16.7%4.6%-0.0%-11.46B35.20B-798.1M1.381.95N/AN/A3,739,1035,151,4287,501,01615,364,253
2023-08-21$439.82$439.0014.8%4.3%10.0%19.8%16.9%4.9%0.0%-5.87B14.52B-783.6M1.152.11N/AN/A3,378,7533,877,7336,330,99313,121,716
2023-08-22$437.72$438.0015.1%4.3%9.9%21.6%15.9%4.8%-0.1%-9.21B29.69B-778.8M1.121.98N/AN/A3,469,7423,881,1896,428,99513,366,252
2023-08-23$443.24$438.0013.9%4.0%11.2%15.6%14.9%4.3%-0.0%-1.87B-15.69B-757.7M1.532.23N/AN/A2,521,7183,869,4976,506,12113,403,949
2023-08-24$437.70$438.0014.9%4.3%11.7%20.6%15.4%4.9%-0.1%-12.68B37.43B-773.5M1.462.22N/AN/A3,261,5324,752,7936,506,90613,635,122
2023-08-25$440.69$438.0013.5%3.8%11.3%13.5%14.6%4.3%0.1%-5.79B6.71B-752.1M1.591.98N/AN/A3,451,8485,472,5716,641,51813,745,853
2023-08-28$442.63$438.0013.2%3.8%11.5%12.0%13.9%4.2%0.3%-3.81B-8.54B-727.8M1.681.73N/AN/A2,904,7994,868,9276,388,73013,496,029
2023-08-29$449.37$439.0012.6%3.6%12.9%8.8%13.7%3.6%0.2%2.68B-60.62B-703.3M1.591.75N/AN/A3,609,3885,739,4616,508,86814,052,851
2023-08-30$450.77$439.0011.8%3.4%12.0%4.9%12.6%3.1%0.3%3.14B-69.14B-686.1M1.211.78N/AN/A3,464,8404,187,2486,640,06814,810,703
2023-08-31$451.49$439.0011.5%3.3%12.0%3.7%11.8%3.0%0.3%2.44B-68.80B-678.3M1.151.76N/AN/A3,278,9543,777,1856,751,65414,801,715