SPY Options History — February 2024

In February 2024, SPY traded between $488.76 and $508.60. ATM implied volatility averaged 11.6%, placing in the 10.4% IV rank vs the trailing year. The 30-day expected move averaged 3.4%. IV traded below realized volatility by 0.9% (HV 20d: 12.5%). Max pain ranged from $465.00 to $480.00. Net GEX was positive for 15 of 20 trading days. Term structure was in contango for 12 of 20 days. Put/call ratio averaged 1.15.

Notable Days

  • 2024-02-02: Highest Volume — 10,774,010 contracts
  • 2024-02-13: Largest IV spike — 11.5% change
  • 2024-02-13: Highest IV Rank — 20.8%
  • 2024-02-20: Largest Expected Move — 3.8%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$499.78$488.76$508.60$488.76$508.60
Max Pain$474.25$465.00$480.00$465.00$480.00
ATM IV11.6%10.8%13.0%11.5%11.2%
Expected Move3.4%3.2%3.8%3.4%3.3%
HV 20d12.5%10.6%15.0%10.6%13.7%
HV 60d10.3%9.1%11.1%10.0%11.1%
IV Rank10.4%3.9%20.8%9.4%7.2%
IV Percentile25.4%4.4%49.2%21.4%16.3%
Term Structure0.1%-0.2%0.5%0.2%-0.0%
VWIV13.1%12.0%14.7%13.3%12.7%
Skew 25d2.1%1.4%3.6%2.3%1.7%
Skew 10d6.0%3.5%8.1%6.0%4.2%
Call IV 25d10.9%10.1%11.8%10.6%10.8%
Put IV 25d13.0%11.6%15.2%12.9%12.4%
Bid-Ask Spread %1.591.221.901.221.81
Gamma HHI0.050.020.140.030.05
Net GEX5.29B-8.16B15.49B3.71B8.15B
Net DEX-127.08B-163.96B-63.26B-99.87B-140.44B
Net VEX-674.1M-752.8M-628.2M-689.5M-638.2M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.150.931.331.210.95
Total Volume7,895,1745,817,60410,774,0108,409,9317,035,625
Total OI21,911,376.420,152,85624,370,09020,152,85622,576,822

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2024-02-01$488.76$465.0011.5%3.4%10.6%9.4%13.3%2.3%0.2%3.71B-99.87B-689.5M1.211.22N/AN/A3,806,5354,603,3966,323,86113,828,995
2024-02-02$494.94$466.0011.2%3.4%11.1%7.3%13.3%1.8%0.2%15.49B-141.20B-661.1M1.131.35N/AN/A5,058,7195,715,2916,441,04914,184,886
2024-02-05$493.06$470.0011.2%3.3%11.3%7.1%13.2%2.1%0.4%4.51B-120.60B-646.9M1.011.30N/AN/A4,127,7854,165,6096,364,19714,371,223
2024-02-06$492.88$470.0011.0%3.3%10.6%5.5%12.3%1.9%0.5%4.92B-117.86B-649.3M0.931.38N/AN/A3,790,2243,506,4976,500,33814,476,375
2024-02-07$498.12$470.0010.8%3.2%10.9%3.9%13.0%1.4%0.5%11.79B-152.13B-634.9M1.291.46N/AN/A3,724,2864,809,5256,492,59114,556,997
2024-02-08$498.28$470.0010.8%3.2%10.9%4.2%12.0%1.6%0.5%6.03B-144.71B-649.5M1.011.38N/AN/A2,895,4542,922,1506,606,87815,416,360
2024-02-09$500.78$470.0010.9%3.2%10.9%4.8%12.7%1.4%0.5%12.45B-157.38B-658.0M1.051.48N/AN/A3,373,2713,539,9296,685,33715,591,394
2024-02-12$501.12$474.0011.7%3.4%10.9%10.7%12.9%2.2%0.1%5.67B-142.93B-675.9M1.191.53N/AN/A3,438,7024,101,3086,479,74315,357,615
2024-02-13$492.81$475.0013.0%3.7%12.6%20.8%14.6%3.6%-0.0%-5.34B-71.16B-752.8M1.211.70N/AN/A4,635,0005,592,3906,719,64416,068,267
2024-02-14$498.38$475.0011.9%3.4%12.8%12.5%13.2%2.6%0.1%8.99B-137.80B-709.9M1.091.45N/AN/A4,301,9484,680,7737,191,00816,263,705
2024-02-15$501.30$475.0012.0%3.4%12.6%13.1%12.9%2.2%0.0%11.52B-156.58B-711.9M1.141.52N/AN/A3,688,3374,217,9167,103,63616,571,981
2024-02-16$499.75$475.0012.1%3.5%12.2%14.1%13.7%2.5%0.0%1.68B-138.27B-709.7M1.231.54N/AN/A3,811,7214,706,2247,156,05217,214,038
2024-02-20$496.01$477.0012.9%3.8%12.6%20.2%14.5%3.1%-0.2%-8.16B-63.26B-744.5M1.061.55N/AN/A4,185,6484,446,2386,024,74714,858,819
2024-02-21$495.90$477.0012.8%3.7%12.6%19.5%14.7%3.1%-0.2%-1.99B-68.65B-740.8M1.221.86N/AN/A2,897,8233,527,9656,248,81814,962,456
2024-02-22$507.75$477.0012.1%3.5%14.9%13.9%13.2%1.9%-0.2%13.01B-163.96B-628.2M1.221.83N/AN/A4,371,2045,327,9576,248,71415,077,690
2024-02-23$508.25$479.0011.5%3.3%14.9%9.5%12.6%1.5%-0.1%11.14B-153.75B-645.0M1.151.90N/AN/A3,770,1594,321,9166,327,43815,949,438
2024-02-26$506.63$480.0011.5%3.4%15.0%9.3%12.9%1.7%0.0%-367.2M-126.19B-640.1M1.301.80N/AN/A2,705,3973,511,0286,181,58315,538,391
2024-02-27$506.72$480.0011.3%3.4%14.9%7.6%12.3%1.6%-0.0%3.43B-126.92B-648.5M1.331.83N/AN/A2,690,8773,571,7896,265,87615,735,794
2024-02-28$505.62$480.0011.3%3.4%15.0%8.3%12.9%1.9%-0.0%-770.8M-117.93B-647.8M1.251.82N/AN/A2,816,7343,510,1306,325,27715,939,495
2024-02-29$508.60$480.0011.2%3.3%13.7%7.2%12.7%1.7%-0.0%8.15B-140.44B-638.2M0.951.81N/AN/A3,615,4903,420,1356,432,77616,144,046