SPY Options History — May 2024

In May 2024, SPY traded between $503.39 and $530.95. ATM implied volatility averaged 11.5%, placing in the 14.1% IV rank vs the trailing year. The 30-day expected move averaged 3.4%. IV traded above realized volatility by 0.4% (HV 20d: 11.0%). Max pain ranged from $489.00 to $505.00. Net GEX was positive for 14 of 22 trading days. Term structure was in contango for 11 of 22 days. Put/call ratio averaged 1.29.

Notable Days

  • 2024-05-23: Highest Volume — 8,684,098 contracts
  • 2024-05-03: Largest IV drop — 10.0% change
  • 2024-05-02: Highest IV Rank — 38.7%
  • 2024-05-02: Largest Expected Move — 4.2%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$522.14$503.39$530.95$503.39$523.99
Max Pain$495.36$489.00$505.00$505.00$500.00
ATM IV11.5%10.2%13.6%13.5%11.7%
Expected Move3.4%2.9%4.2%4.1%3.5%
HV 20d11.0%8.1%14.2%13.6%8.8%
HV 60d11.8%10.8%12.7%12.5%10.8%
IV Rank14.1%0.0%38.7%37.6%17.1%
IV Percentile28.1%0.0%69.0%68.3%44.0%
Term Structure0.1%-0.3%0.7%-0.0%-0.3%
VWIV12.9%11.1%14.9%14.9%12.9%
Skew 25d2.5%1.6%3.7%2.7%3.3%
Skew 10d5.8%4.1%8.3%6.4%6.3%
Call IV 25d10.3%9.0%12.4%12.1%10.4%
Put IV 25d12.8%11.3%14.8%14.8%13.7%
Bid-Ask Spread %1.781.342.352.352.02
Gamma HHI0.040.020.060.030.02
Net GEX1.14B-9.53B11.32B-7.08B-3.25B
Net DEX-91.18B-146.91B-18.37B-18.37B-68.96B
Net VEX-664.2M-739.1M-594.6M-739.1M-677.7M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.290.951.971.310.95
Total Volume6,398,127.6364,124,4618,684,0987,881,6257,920,762
Total OI19,467,265.54517,908,37521,580,55118,121,82020,017,779

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2024-05-01$503.39$505.0013.5%4.1%13.6%37.6%14.9%2.7%-0.0%-7.08B-18.37B-739.1M1.312.35N/AN/A3,418,9824,462,6435,961,61012,160,210
2024-05-02$504.17$505.0013.6%4.2%13.2%38.7%14.5%2.5%-0.0%-4.72B-29.85B-726.4M1.091.66N/AN/A3,549,2843,862,3386,022,04912,290,333
2024-05-03$511.50$505.0012.3%3.5%13.8%23.2%13.1%2.1%0.2%5.04B-76.73B-693.7M1.331.52N/AN/A3,512,4104,671,0996,045,41712,382,455
2024-05-06$515.43$489.0012.2%3.6%14.1%22.1%14.8%2.1%0.4%6.05B-91.38B-664.1M1.971.39N/AN/A2,534,3014,993,5975,815,77712,092,598
2024-05-07$517.16$490.0011.8%3.5%14.2%17.7%13.9%2.1%0.5%6.26B-94.39B-674.8M1.321.34N/AN/A2,800,4043,688,0695,875,29013,442,078
2024-05-08$517.41$490.0011.5%3.5%14.0%14.3%13.0%2.1%0.6%1.77B-95.19B-651.5M1.401.35N/AN/A2,264,9763,181,2605,914,69513,601,633
2024-05-09$519.72$490.0011.3%3.4%13.7%11.6%13.1%2.0%0.6%6.38B-107.61B-647.0M1.251.38N/AN/A2,999,2533,753,3655,935,93413,785,348
2024-05-10$520.87$490.0011.1%3.3%12.2%9.2%13.0%2.0%0.7%5.94B-108.77B-668.9M1.161.61N/AN/A3,171,9443,665,4996,070,41014,324,309
2024-05-13$520.77$490.0012.0%3.5%11.2%19.6%13.2%2.3%0.0%385.5M-95.20B-670.4M1.201.46N/AN/A2,213,5862,645,8255,894,30914,258,852
2024-05-14$523.51$492.0011.6%3.4%11.3%15.8%12.6%2.1%0.0%5.74B-113.52B-634.1M1.291.45N/AN/A2,542,9613,269,1395,877,75614,339,348
2024-05-15$529.36$492.0010.7%3.1%11.2%5.6%12.2%1.6%0.1%11.32B-146.91B-594.6M1.431.64N/AN/A3,156,6664,514,3435,928,96114,581,090
2024-05-16$529.01$493.0010.7%3.1%11.1%4.7%11.6%1.7%0.2%3.87B-133.95B-627.5M1.191.84N/AN/A2,717,3283,221,2156,068,47815,394,077
2024-05-17$529.00$493.0010.4%3.0%9.8%1.4%11.9%1.8%0.2%1.59B-123.78B-660.2M1.351.94N/AN/A2,270,0823,062,5766,119,81515,460,736
2024-05-20$529.85$495.0010.7%3.1%9.4%5.1%11.6%2.2%-0.1%4.50B-109.99B-638.0M1.552.10N/AN/A2,223,7683,439,2505,566,89012,403,429
2024-05-21$530.95$495.0010.5%3.0%8.8%2.6%11.2%2.3%-0.1%6.22B-116.26B-620.7M1.121.90N/AN/A2,208,6932,471,5335,655,71513,055,317
2024-05-22$528.81$495.0010.8%3.1%9.1%7.0%12.3%3.1%-0.1%-833.0M-94.32B-664.0M1.352.11N/AN/A1,753,9782,370,4835,687,89713,145,263
2024-05-23$525.45$495.0011.2%3.2%9.2%11.1%11.9%3.1%-0.2%-7.53B-71.26B-657.2M1.141.86N/AN/A4,049,3464,634,7525,755,17013,318,593
2024-05-24$529.05$497.0010.2%2.9%8.7%0.0%11.1%2.7%-0.1%1.51B-98.10B-660.0M1.372.19N/AN/A2,539,6993,472,2785,986,86513,595,373
2024-05-28$528.70$498.0010.9%3.2%8.7%7.2%12.9%3.4%-0.1%-2.18B-88.80B-662.6M1.262.03N/AN/A2,485,9603,125,6195,746,76313,460,335
2024-05-29$526.63$499.0011.5%3.4%8.1%14.2%14.0%3.7%-0.2%-6.38B-71.98B-688.8M1.191.99N/AN/A2,620,9533,105,9505,827,49213,626,947
2024-05-30$522.39$500.0012.3%3.7%8.8%23.7%13.8%3.7%-0.3%-9.53B-50.64B-692.0M1.162.12N/AN/A2,866,0743,326,5655,980,25313,806,193
2024-05-31$523.99$500.0011.7%3.5%8.8%17.1%12.9%3.3%-0.3%-3.25B-68.96B-677.7M0.952.02N/AN/A4,055,6983,865,0646,130,19813,887,581