State Street SPDR Portfolio S&P 500 Value ETF (SPYV) Expected Move
Expected move estimates the probable price range for a given period based on at-the-money options pricing. It reflects the market consensus for volatility over the selected timeframe.
State Street SPDR Portfolio S&P 500 Value ETF (SPYV) operates in the Financial Services sector, specifically the Asset Management industry, with a market capitalization near $34.08B, listed on AMEX, carrying a beta of 0.83 to the broader market. The State Street SPDR Portfolio S&P 500 Value ETF seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of the S&P 500 Value Index (the "Index")A low cost ETF that seeks to offer exposure to S&P 500 companies that could be undervalued relative to the broader marketThe Index contains stocks that exhibit the strongest value characteristics based on: book value to price ratio; earnings to price ratio; and sales to price ratioOne of the low cost core State Street SPDR Portfolio ETFs, a suite of portfolio building blocks designed to provide broad, diversified exposure to core asset classes public since 2000-10-02.
Snapshot as of May 15, 2026.
- Spot Price
- $59.89
- Expected Move
- 3.7%
- Implied High
- $62.10
- Implied Low
- $57.68
- Front DTE
- 34 days
As of May 15, 2026, State Street SPDR Portfolio S&P 500 Value ETF (SPYV) has an expected move of 3.70%, a one-standard-deviation implied price range of roughly $57.68 to $62.10 from the current $59.89. Expected move is derived from at-the-money straddle pricing and represents the market's pricing of a ±1σ move. Roughly 68% of outcomes should fall within this range under lognormal assumptions, though empirical markets have fatter tails.
SPYV Strategy Sizing to the Expected Move
With State Street SPDR Portfolio S&P 500 Value ETF pricing an expected move of 3.70% from $59.89, risk-defined strategies sized to the implied range structurally target the modal outcome distribution. Iron condors with wings at the ±1σ expected move boundaries collect premium against the ~68% probability that spot stays inside the range under lognormal assumptions; strangles set wider at ±1.5σ or ±2σ target the tails but pay smaller per-trade premium. Long-vol structures (long straddles, ratio backspreads) profit when realized move exceeds the implied move, the inverse trade: they bet against the lognormal assumption itself, capitalizing on the empirically fatter equity-return tails.
Learn how expected move is reported and how to read the data →
Per-expiration expected move for SPYV derived from ATM implied volatility at each listed expiration. Implied high/low bounds are computed as $59.89 × (1 ± expected move %). One standard-deviation range under lognormal assumptions, roughly 68% of outcomes fall inside.
| Expiration | DTE | ATM IV | Expected Move | Implied High | Implied Low |
|---|---|---|---|---|---|
| Jun 18, 2026 | 34 | 12.9% | 3.9% | $62.25 | $57.53 |
| Jul 17, 2026 | 63 | 13.5% | 5.6% | $63.25 | $56.53 |
| Sep 18, 2026 | 126 | 14.2% | 8.3% | $64.89 | $54.89 |
| Dec 18, 2026 | 217 | 15.9% | 12.3% | $67.23 | $52.55 |
Frequently asked SPYV expected move questions
- What is the current SPYV expected move?
- As of May 15, 2026, State Street SPDR Portfolio S&P 500 Value ETF (SPYV) has an expected move of 3.70% over the next 34 days, implying a one-standard-deviation price range of $57.68 to $62.10 from the current $59.89. The expected move is derived from at-the-money straddle pricing and represents the market consensus for a ±1σ price move.
- What does the SPYV expected move mean for traders?
- Roughly 68% of outcomes should fall within ±1 expected move and 95% within ±2 under lognormal assumptions, though equity returns have empirically fatter tails than log-normal predicts. Strategies sized to the expected move (iron condors at ±1σ, strangles at ±1.5σ) target the typical outcome distribution; strategies that profit from tail moves (long-vol structures, ratio backspreads) target the tails the lognormal model under-prices.
- How is SPYV expected move calculated?
- The expected move displayed here is derived from at-the-money implied volatility scaled to the chosen tenor: expected move % is approximately ATM IV times sqrt(T / 365), where T is days to expiration. An equivalent straddle-based form: the ATM straddle (call + put at the same strike) is roughly sqrt(2/pi) times spot times IV times sqrt(T/365), so the implied one-standard-deviation move is approximately 1.25 times ATM straddle divided by spot. The two formulations agree once the sqrt(2/pi) constant is reconciled.