SPY Options History — September 2024

In September 2024, SPY traded between $540.77 and $572.24. ATM implied volatility averaged 14.3%, placing in the 22.1% IV rank vs the trailing year. The 30-day expected move averaged 4.1%. IV traded above realized volatility by 0.7% (HV 20d: 13.6%). Max pain ranged from $540.00 to $557.00. Net GEX was positive for 12 of 20 trading days. Term structure was in contango for 8 of 20 days. Put/call ratio averaged 1.23.

Notable Days

  • 2024-09-11: Highest Volume — 9,925,167 contracts
  • 2024-09-19: Largest IV drop — 12.0% change
  • 2024-09-06: Highest IV Rank — 41.6%
  • 2024-09-06: Largest Expected Move — 5.1%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$560.54$540.77$572.24$550.55$572.24
Max Pain$551.05$540.00$557.00$540.00$557.00
ATM IV14.3%12.0%18.1%16.2%13.0%
Expected Move4.1%3.4%5.1%5.0%3.8%
HV 20d13.6%12.5%16.2%16.2%12.9%
HV 60d16.1%15.6%16.4%15.6%16.3%
IV Rank22.1%10.2%41.6%32.0%15.6%
IV Percentile72.4%46.8%95.6%88.9%65.5%
Term Structure0.0%-0.3%0.4%-0.0%0.4%
VWIV16.3%13.4%19.1%19.1%15.2%
Skew 25d5.0%3.6%7.0%7.0%4.5%
Skew 10d11.0%7.6%15.7%14.2%10.1%
Call IV 25d12.2%10.4%15.4%13.4%11.0%
Put IV 25d17.2%14.3%22.2%20.4%15.4%
Bid-Ask Spread %1.891.553.161.782.15
Gamma HHI0.040.020.090.020.03
Net GEX708.1M-13.32B15.42B-8.92B4.01B
Net DEX-55.12B-135.47B40.46B-3.96B-75.81B
Net VEX-780.1M-862.2M-694.3M-838.0M-788.9M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.230.971.531.001.27
Total Volume7,553,508.856,174,6749,925,1678,224,0886,581,471
Total OI19,639,218.6517,666,62521,036,78318,896,14718,910,024

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2024-09-03$550.55$540.0016.2%5.0%16.2%32.0%19.1%7.0%-0.0%-8.92B-3.96B-838.0M1.001.78N/AN/A4,108,5064,115,5825,105,87813,790,269
2024-09-04$550.95$540.0016.3%4.9%14.9%32.7%19.1%6.9%-0.0%-7.31B-10.67B-833.8M1.241.60N/AN/A3,220,5914,002,9595,361,05713,981,079
2024-09-05$548.67$551.0016.3%4.6%14.3%32.3%18.0%6.2%-0.1%-8.55B-2.97B-826.0M1.211.64N/AN/A3,457,1334,178,8855,396,05914,110,392
2024-09-06$540.77$552.0018.1%5.1%14.3%41.6%19.0%6.8%-0.2%-13.32B40.46B-862.2M1.171.55N/AN/A4,266,2214,991,4895,500,46014,261,685
2024-09-09$545.53$550.0016.9%4.8%14.5%35.3%18.8%5.8%-0.2%-6.42B-1.36B-825.3M1.531.72N/AN/A2,744,1774,207,0645,566,38713,930,711
2024-09-10$548.34$550.0016.4%4.6%14.5%33.1%17.7%6.0%-0.3%-4.11B-17.68B-814.8M1.331.79N/AN/A2,909,7793,867,1875,554,50314,099,866
2024-09-11$552.63$550.0015.4%4.3%13.4%27.7%17.9%5.3%-0.2%-518.7M-40.71B-802.8M0.971.87N/AN/A5,039,0564,886,1115,601,74814,272,283
2024-09-12$558.92$550.0014.1%4.0%13.9%21.3%16.4%4.7%-0.1%4.62B-78.68B-768.1M1.271.91N/AN/A4,151,5355,288,3605,647,41714,546,082
2024-09-13$561.97$550.0013.7%3.9%12.7%19.0%16.2%4.6%-0.0%7.81B-93.82B-741.8M1.172.27N/AN/A3,636,0774,271,3605,667,37415,369,409
2024-09-16$562.67$550.0014.0%4.0%12.7%20.4%15.4%4.7%0.1%4.61B-86.08B-740.9M1.191.82N/AN/A2,843,5763,384,4275,537,45614,643,948
2024-09-17$562.07$550.0014.4%4.1%12.5%22.6%17.5%4.8%-0.0%1.25B-77.55B-761.8M1.162.09N/AN/A3,600,5254,191,8035,571,38114,689,079
2024-09-18$562.00$551.0014.3%4.1%12.5%22.2%15.9%4.9%-0.0%875.6M-73.53B-760.7M1.203.16N/AN/A3,195,0393,842,4115,727,32814,946,505
2024-09-19$571.32$552.0012.6%3.6%13.7%13.4%14.6%3.7%0.1%15.42B-135.47B-694.3M1.502.16N/AN/A3,717,0565,566,1165,843,98815,118,368
2024-09-20$569.03$555.0012.4%3.5%13.5%12.5%15.0%3.6%0.2%2.74B-62.79B-748.2M1.172.00N/AN/A3,647,6674,252,9625,067,45415,856,786
2024-09-23$569.30$554.0012.4%3.5%13.1%12.5%13.7%4.2%0.1%6.04B-73.47B-729.1M1.281.69N/AN/A2,890,1983,708,6024,757,07612,909,549
2024-09-24$570.65$554.0012.0%3.4%13.1%10.2%13.6%3.9%0.0%5.87B-76.96B-746.9M1.211.65N/AN/A2,875,8913,466,9784,827,05613,424,619
2024-09-25$569.58$555.0012.2%3.5%13.1%11.4%14.4%4.1%0.1%-318.0M-70.10B-760.5M1.281.56N/AN/A2,705,4963,469,1784,942,59313,622,049
2024-09-26$572.09$555.0012.2%3.5%13.0%11.6%13.4%3.8%0.1%9.34B-85.45B-768.9M1.081.58N/AN/A3,464,4383,755,3865,016,28514,074,253
2024-09-27$571.59$555.0012.9%3.7%13.0%15.0%14.3%4.4%-0.0%1.07B-75.74B-789.2M1.341.88N/AN/A2,801,4103,767,4755,061,26914,474,648
2024-09-30$572.24$557.0013.0%3.8%12.9%15.6%15.2%4.5%0.4%4.01B-75.81B-788.9M1.272.15N/AN/A2,893,2023,688,2695,005,13013,904,894