SPX Options History — March 2015

In March 2015, SPX traded between $2039.64 and $2115.77. ATM implied volatility averaged 12.8%, placing in the 56.6% IV rank vs the trailing year. The 30-day expected move averaged 3.7%. IV traded above realized volatility by 1.3% (HV 20d: 11.6%). Max pain ranged from $2030.00 to $2075.00. Net GEX was positive for 8 of 22 trading days. Term structure was in contango for 18 of 22 days. Put/call ratio averaged 1.99.

Notable Days

  • 2015-03-06: Highest Volume — 1,465,500 contracts
  • 2015-03-25: Largest IV spike — 18.7% change
  • 2015-03-11: Highest IV Rank — 67.0%
  • 2015-03-11: Largest Expected Move — 4.3%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$2079.56$2039.64$2115.77$2115.77$2069.87
Max Pain$2066.59$2030.00$2075.00$2030.00$2075.00
ATM IV12.8%10.6%14.9%10.6%13.6%
Expected Move3.7%2.9%4.3%2.9%3.8%
HV 20d11.6%7.9%14.8%9.4%14.8%
HV 60d14.7%13.7%15.6%15.3%14.2%
IV Rank56.6%45.2%67.0%45.2%60.2%
IV Percentile67.3%36.1%87.3%36.1%75.4%
Term Structure0.2%-0.1%0.6%0.3%0.1%
VWIV13.9%11.1%15.9%11.1%14.0%
Skew 25d4.9%4.0%5.7%4.0%5.4%
Skew 10d9.1%7.4%10.2%7.4%9.4%
Call IV 25d10.7%8.7%12.6%8.8%11.1%
Put IV 25d15.6%12.8%17.9%12.8%16.5%
Bid-Ask Spread %24.3315.3732.9624.7922.66
Gamma HHI0.030.030.050.040.03
Net GEX-4.97B-21.98B16.25B16.25B-13.94B
Net DEX-82.65B-265.82B72.69B-265.82B3.73B
Net VEX-2.06B-2.15B-1.97B-1.99B-2.10B
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.991.402.392.052.15
Total Volume924,130.227546,9511,465,500881,270969,916
Total OI11,705,800.3649,458,26913,686,34611,542,60910,728,501

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2015-03-02$2115.77$2030.0010.6%2.9%9.4%45.2%11.1%4.0%0.3%16.25B-265.82B-1.99B2.0524.79289,204592,0663,704,5127,838,097
2015-03-03$2106.68$2030.0011.6%3.2%8.9%50.1%12.2%4.7%0.3%9.96B-225.05B-2.04B2.3920.70277,000661,6793,764,2077,991,905
2015-03-04$2098.27$2035.0011.7%3.3%8.2%51.0%12.7%4.8%0.2%4.01B-185.26B-2.07B2.1319.67309,619658,0623,810,8298,200,193
2015-03-05$2102.08$2070.0011.7%3.5%7.9%51.0%13.5%4.9%0.2%6.53B-198.25B-2.08B2.1332.00267,147569,1273,865,6348,394,686
2015-03-06$2069.84$2075.0013.4%3.9%9.1%59.5%14.7%5.4%-0.0%-17.22B-45.98B-2.14B2.1630.15463,3241,002,1763,908,0338,542,963
2015-03-09$2078.00$2075.0012.9%3.7%9.1%56.6%14.7%5.4%0.1%-5.90B-102.34B-2.07B2.0726.16186,280386,0903,769,9538,165,806
2015-03-10$2042.01$2075.0014.9%4.2%11.0%66.8%15.0%5.7%-0.1%-19.68B60.09B-2.13B1.6722.89433,070723,3563,834,9708,352,508
2015-03-11$2039.64$2075.0014.9%4.3%10.3%67.0%15.8%5.3%-0.1%-20.90B72.69B-2.15B2.2622.38242,495548,6033,975,0728,597,898
2015-03-12$2065.67$2075.0013.6%3.9%11.3%60.3%14.6%4.7%-0.0%-10.46B-47.55B-2.09B1.9026.06245,455465,8404,049,0268,772,407
2015-03-13$2051.21$2070.0014.4%4.2%10.9%64.3%14.8%4.7%0.1%-17.37B16.91B-2.12B2.0932.96331,765693,9444,114,3828,894,254
2015-03-16$2076.01$2070.0014.1%4.0%11.7%62.7%15.9%5.0%0.0%-2.45B-122.74B-2.05B1.7929.74267,664478,8164,025,7578,663,420
2015-03-17$2074.95$2070.0014.0%4.0%11.7%62.1%15.1%5.0%0.0%-2.87B-116.71B-2.07B1.5029.01218,964327,9874,100,7528,842,899
2015-03-18$2101.32$2060.0011.9%3.4%12.6%52.1%13.9%4.9%0.2%11.57B-260.32B-1.97B2.2131.08366,202808,0394,156,2178,970,082
2015-03-19$2090.26$2060.0012.0%3.4%12.7%52.4%13.1%4.8%0.4%5.20B-218.04B-2.00B1.4028.15474,521661,9414,271,4479,414,899
2015-03-20$2107.36$2070.0010.9%3.1%12.9%46.7%11.9%4.5%0.6%6.57B-110.24B-1.99B1.5717.65382,146598,8282,813,0096,645,260
2015-03-23$2102.81$2075.0011.1%3.1%12.9%48.0%12.5%4.7%0.3%4.42B-95.37B-1.98B1.9128.46215,216411,7462,940,4626,907,506
2015-03-24$2092.84$2075.0011.5%3.2%13.0%50.0%12.5%4.6%0.3%-3.01B-63.77B-2.02B1.9716.34239,087470,5383,001,3787,079,263
2015-03-25$2061.83$2075.0013.7%3.9%13.9%60.8%14.3%5.1%0.2%-18.75B42.74B-2.08B2.0715.37265,986551,4653,084,9147,275,956
2015-03-26$2057.48$2075.0014.1%4.0%13.9%62.6%15.2%5.1%0.1%-21.98B59.33B-2.09B2.1519.14401,506861,9283,144,8907,476,809
2015-03-27$2060.45$2075.0013.5%3.9%14.0%59.9%14.5%5.0%0.3%-18.04B39.37B-2.11B1.8916.95309,385584,3443,263,8647,685,235
2015-03-30$2085.94$2075.0012.5%3.5%14.6%54.8%13.2%4.9%0.2%-1.28B-55.64B-2.05B2.3822.97331,362786,9763,170,0917,317,662
2015-03-31$2069.87$2075.0013.6%3.8%14.8%60.2%14.0%5.4%0.1%-13.94B3.73B-2.10B2.1522.66308,230661,6863,248,0937,480,408