SPY Options History — December 2024

In December 2024, SPY traded between $585.96 and $607.82. ATM implied volatility averaged 11.9%, placing in the 11.1% IV rank vs the trailing year. The 30-day expected move averaged 3.5%. IV traded above realized volatility by 0.9% (HV 20d: 11.0%). Max pain ranged from $565.00 to $589.00. Net GEX was positive for 11 of 21 trading days. Term structure was in contango for 18 of 21 days. Put/call ratio averaged 1.11.

Notable Days

  • 2024-12-20: Highest Volume — 9,363,462 contracts
  • 2024-12-18: Largest IV spike — 50.6% change
  • 2024-12-18: Highest IV Rank — 40.3%
  • 2024-12-18: Largest Expected Move — 5.1%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$599.88$585.96$607.82$603.74$585.96
Max Pain$580.81$565.00$589.00$565.00$585.00
ATM IV11.9%9.7%17.7%10.2%14.2%
Expected Move3.5%3.0%5.1%3.2%4.0%
HV 20d11.0%6.8%13.9%13.0%13.7%
HV 60d11.6%10.6%12.8%11.1%12.7%
IV Rank11.1%0.0%40.3%1.0%22.9%
IV Percentile34.3%0.0%95.6%1.2%75.0%
Term Structure0.3%-0.4%0.7%0.2%0.2%
VWIV13.5%11.3%18.9%12.3%14.4%
Skew 25d4.0%2.2%7.4%2.9%4.6%
Skew 10d8.8%5.5%15.8%6.4%9.8%
Call IV 25d10.3%8.9%14.4%9.3%11.8%
Put IV 25d14.3%11.1%21.6%12.2%16.4%
Bid-Ask Spread %2.321.903.972.602.25
Gamma HHI0.040.020.110.060.03
Net GEX3.13B-10.59B18.99B11.36B-10.59B
Net DEX-86.50B-161.47B7.38B-141.27B2.66B
Net VEX-710.0M-794.0M-651.1M-651.1M-743.7M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.110.841.331.240.92
Total Volume6,768,187.815,211,0729,363,4626,142,8507,830,536
Total OI17,948,672.85715,519,15319,598,67017,308,23317,191,040

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2024-12-02$603.74$565.0010.2%3.2%13.0%1.0%12.3%2.9%0.2%11.36B-141.27B-651.1M1.242.60N/AN/A2,741,9413,400,9095,764,41311,543,820
2024-12-03$603.66$567.0010.0%3.1%12.8%0.0%13.0%2.8%0.5%7.03B-133.50B-671.5M1.282.39N/AN/A2,298,9452,952,0405,916,15911,777,467
2024-12-04$607.64$568.009.8%3.0%12.6%0.0%11.3%2.5%0.5%16.03B-161.47B-660.3M1.332.75N/AN/A2,439,0313,235,3375,959,08011,920,005
2024-12-05$607.32$575.009.8%3.1%8.8%0.0%12.0%2.4%0.5%10.10B-154.10B-664.0M1.142.01N/AN/A2,602,8152,966,4856,026,02812,233,693
2024-12-06$607.69$578.009.7%3.0%8.4%0.0%11.7%2.2%0.7%11.40B-154.53B-666.1M1.152.36N/AN/A2,566,8472,948,2886,091,13412,432,939
2024-12-09$604.31$578.0010.8%3.2%8.7%5.5%12.4%3.2%0.5%-743.3M-113.74B-703.2M1.212.05N/AN/A2,830,9503,413,8935,956,07011,927,281
2024-12-10$602.65$580.0010.8%3.2%8.7%5.8%12.7%3.4%0.4%-1.80B-105.69B-693.3M1.151.91N/AN/A2,654,5273,045,9456,107,97512,237,875
2024-12-11$607.82$580.0010.1%3.0%9.2%2.2%11.8%2.8%0.5%18.99B-150.99B-684.4M1.152.11N/AN/A2,520,5562,905,3016,229,45412,401,329
2024-12-12$605.22$580.0010.3%3.1%9.3%3.3%13.3%3.1%0.6%3.77B-122.38B-701.0M1.261.90N/AN/A2,691,2523,390,0436,277,39812,469,134
2024-12-13$604.50$584.0010.3%3.1%8.8%3.2%12.0%3.4%0.7%2.96B-119.28B-690.3M1.082.02N/AN/A3,243,8033,488,4036,324,55512,594,115
2024-12-16$606.78$585.0010.9%3.2%6.8%6.4%11.9%3.5%0.2%14.52B-131.35B-674.7M1.142.12N/AN/A2,433,9622,777,1106,138,59912,288,269
2024-12-17$604.18$585.0011.7%3.4%7.0%10.4%13.8%4.0%0.0%-2.44B-102.38B-695.4M1.162.13N/AN/A2,682,9423,103,2736,112,20712,503,506
2024-12-18$587.27$589.0017.7%5.1%12.6%40.3%17.1%7.2%-0.4%-8.58B7.38B-783.3M1.073.97N/AN/A4,365,1434,655,0256,233,92212,641,051
2024-12-19$587.90$588.0016.7%4.8%12.6%35.4%18.9%7.4%-0.3%-7.63B3.85B-794.0M1.072.71N/AN/A4,165,8604,450,9646,717,17912,881,491
2024-12-20$591.74$585.0014.5%4.2%12.5%24.4%16.7%6.0%-0.1%-4.27B-1.53B-784.3M1.062.24N/AN/A4,543,2674,820,1956,250,06113,094,811
2024-12-23$594.64$585.0013.3%3.8%12.6%18.3%14.6%4.8%0.4%-1.53B-42.68B-756.8M1.142.22N/AN/A3,544,5234,025,3095,566,3269,952,827
2024-12-24$599.74$585.0011.1%3.2%13.0%7.2%12.7%4.3%0.6%14.74B-82.32B-709.7M0.942.16N/AN/A3,034,9212,843,3805,606,56610,662,213
2024-12-26$601.87$585.0011.2%3.1%12.8%7.6%12.4%4.2%0.7%9.81B-84.93B-714.2M0.841.94N/AN/A3,566,2192,989,5415,515,07211,344,350
2024-12-27$592.78$585.0013.2%3.8%13.9%17.6%13.6%4.6%0.5%-8.85B-19.43B-730.4M0.972.07N/AN/A4,635,0214,506,4035,588,20511,490,079
2024-12-30$590.00$585.0013.9%4.0%13.6%21.1%14.5%4.7%0.1%-8.65B-8.85B-738.5M0.982.77N/AN/A4,444,4134,376,6265,533,49411,420,938
2024-12-31$585.96$585.0014.2%4.0%13.7%22.9%14.4%4.6%0.2%-10.59B2.66B-743.7M0.922.25N/AN/A4,075,2133,755,3235,644,50511,546,535