SPX Options History — April 2009

In April 2009, SPX traded between $813.22 and $872.81. ATM implied volatility averaged 33.2%, placing in the 26.9% IV rank vs the trailing year. The 30-day expected move averaged 9.8%. IV traded below realized volatility by 3.4% (HV 20d: 36.6%). Max pain ranged from $750.00 to $800.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 21 of 21 days. Put/call ratio averaged 1.61.

Notable Days

  • 2009-04-09: Highest Volume — 1,014,763 contracts
  • 2009-04-03: Largest IV spike — 43.3% change
  • 2009-04-06: Highest IV Rank — 34.8%
  • 2009-04-07: Largest Expected Move — 10.7%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$848.99$813.22$872.81$813.22$872.81
Max Pain$792.86$750.00$800.00$750.00$800.00
ATM IV33.2%23.3%39.0%36.7%23.3%
Expected Move9.8%8.6%10.7%10.4%8.9%
HV 20d36.6%29.5%44.0%44.0%29.6%
HV 60d39.4%38.0%40.7%39.9%38.0%
IV Rank26.9%13.4%34.8%31.7%13.4%
IV Percentile48.3%32.9%61.9%54.4%32.9%
Term Structure1.1%0.2%2.5%1.6%1.6%
VWIV36.3%31.3%40.5%38.7%33.5%
Skew 25d6.1%4.9%7.7%6.1%5.8%
Skew 10d12.2%10.4%13.9%11.8%11.0%
Call IV 25d31.6%28.2%35.4%34.5%28.9%
Put IV 25d37.7%33.1%41.4%40.6%34.7%
Bid-Ask Spread %28.3210.0041.7432.6110.00
Gamma HHI0.050.040.050.040.05
Net GEX924.0M11.3M2.66B55.6M1.39B
Net DEX16.76B-33.49B57.99B57.99B-1.78B
Net VEX-1.25B-1.31B-1.17B-1.17B-1.29B
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.610.912.211.651.89
Total Volume607,241.476318,0371,014,763628,569619,846
Total OI11,753,473.33310,695,23613,062,46110,695,23612,372,275

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2009-04-01$813.22$750.0036.7%10.4%44.0%31.7%38.7%6.1%1.6%55.6M57.99B-1.17B1.6532.61237,624390,9454,523,5356,171,701
2009-04-02$840.17$750.0023.6%10.7%42.7%13.8%39.1%5.0%1.6%689.1M22.26B-1.21B1.2230.68343,947420,9384,616,9106,256,766
2009-04-03$843.70$775.0033.9%10.6%42.6%27.9%38.4%7.1%0.7%922.8M14.18B-1.23B1.5635.40188,112293,6834,729,6276,368,448
2009-04-06$834.49$775.0039.0%10.7%42.0%34.8%38.4%7.7%0.7%815.5M25.49B-1.21B1.4537.52252,920367,8334,809,0346,509,640
2009-04-07$817.27$800.0035.4%10.7%39.5%29.9%40.5%7.0%1.1%323.9M47.90B-1.22B1.5835.75226,718358,8424,936,8216,677,624
2009-04-08$826.96$800.0030.3%10.2%39.6%22.9%38.8%6.7%1.4%754.7M34.24B-1.22B1.5132.65190,956289,2925,021,2356,823,051
2009-04-09$855.92$800.0034.3%9.8%38.7%28.5%36.0%5.5%1.4%1.79B-12.00B-1.24B1.8235.74360,090654,6735,063,6146,894,144
2009-04-13$857.15$800.0035.0%10.0%38.8%29.4%37.9%5.0%0.9%1.85B-14.23B-1.23B1.8940.92232,095438,1875,140,4867,114,795
2009-04-14$843.67$800.0034.7%10.0%39.5%29.0%36.1%5.7%1.2%1.34B4.89B-1.22B1.4941.74301,182447,9325,172,6707,255,091
2009-04-15$852.72$800.0033.3%9.6%38.6%27.1%35.6%5.0%1.6%1.67B-11.39B-1.23B1.6438.32353,780580,4425,249,1847,419,636
2009-04-16$865.28$800.0032.1%9.2%38.3%25.5%34.5%5.5%1.4%2.66B-33.49B-1.23B0.9233.69503,810464,5555,354,2897,708,172
2009-04-17$870.21$800.0030.1%8.6%37.7%22.7%31.3%4.9%2.5%740.5M8.89B-1.23B1.6232.67237,255384,8824,422,7366,401,109
2009-04-20$836.50$800.0035.3%10.1%39.8%29.8%37.8%6.4%0.6%11.3M51.07B-1.25B1.9218.65197,440378,7554,570,9536,591,184
2009-04-21$850.99$800.0033.1%9.5%31.9%26.8%35.9%6.2%1.1%478.5M30.30B-1.26B1.7016.81204,662347,6274,692,2046,682,028
2009-04-22$839.56$800.0034.2%9.8%31.5%28.3%34.7%6.8%0.7%233.6M45.92B-1.26B1.7618.78170,501300,0674,741,7056,793,148
2009-04-23$851.92$800.0033.4%9.6%31.9%27.2%36.4%6.6%0.8%515.3M29.51B-1.29B1.8621.09127,365237,5104,813,8346,918,293
2009-04-24$869.74$800.0031.3%9.4%31.4%24.3%33.9%6.3%1.0%941.9M4.40B-1.31B1.5619.36173,594270,0684,841,0916,926,106
2009-04-27$859.87$800.0038.6%9.8%31.0%34.4%36.3%6.7%0.2%692.8M18.35B-1.30B2.2121.61128,364283,8034,922,4457,026,107
2009-04-28$854.60$800.0036.6%9.6%29.5%31.6%35.5%6.7%0.6%443.9M28.00B-1.29B1.5720.61123,772194,2654,958,5037,141,503
2009-04-29$872.12$800.0032.1%9.2%30.0%25.4%33.3%5.5%0.5%1.09B1.50B-1.28B0.9120.12247,548226,1914,993,0657,198,178
2009-04-30$872.81$800.0023.3%8.9%29.6%13.4%33.5%5.8%1.6%1.39B-1.78B-1.29B1.8910.00214,240405,6065,094,4957,277,780