SPX Options History — May 2021

In May 2021, SPX traded between $4073.39 and $4233.79. ATM implied volatility averaged 15.2%, placing in the 12.4% IV rank vs the trailing year. The 30-day expected move averaged 4.4%. IV traded above realized volatility by 1.9% (HV 20d: 13.3%). Max pain ranged from $3925.00 to $4075.00. Net GEX was positive for 12 of 20 trading days. Term structure was in contango for 17 of 20 days. Put/call ratio averaged 1.81.

Notable Days

  • 2021-05-12: Highest Volume — 1,296,305 contracts
  • 2021-05-12: Largest IV spike — 26.2% change
  • 2021-05-12: Highest IV Rank — 42.4%
  • 2021-05-12: Largest Expected Move — 6.1%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$4170.19$4073.39$4233.79$4193.97$4211.55
Max Pain$3992.75$3925.00$4075.00$4040.00$3940.00
ATM IV15.2%11.9%21.6%14.0%11.9%
Expected Move4.4%3.4%6.1%3.9%3.4%
HV 20d13.3%9.1%15.6%9.1%15.1%
HV 60d13.4%12.3%14.5%12.3%12.5%
IV Rank12.4%0.0%42.4%6.4%0.0%
IV Percentile15.5%0.0%65.1%6.0%0.0%
Term Structure0.3%-0.2%0.8%0.3%0.2%
VWIV18.3%13.5%25.4%16.2%13.5%
Skew 25d7.1%5.3%10.2%6.2%5.3%
Skew 10d14.5%11.0%20.9%13.2%11.0%
Call IV 25d12.6%10.2%17.3%11.6%10.2%
Put IV 25d19.7%15.5%27.5%17.8%15.5%
Bid-Ask Spread %5.393.997.576.597.57
Gamma HHI0.020.020.060.030.03
Net GEX3.22B-25.25B40.85B9.88B23.04B
Net DEX-349.26B-742.44B-4.83B-262.73B-742.44B
Net VEX-3.93B-5.05B-3.22B-3.22B-4.69B
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.811.602.321.601.71
Total Volume981,763.1583,0501,296,305908,6651,071,458
Total OI9,131,9786,347,91814,230,4546,347,91813,527,366

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2021-05-03$4193.97$4040.0014.0%3.9%9.1%6.4%16.2%6.2%0.3%9.88B-262.73B-3.22B1.606.59348,886559,7791,968,4674,379,451
2021-05-04$4150.57$4050.0015.9%4.5%10.0%15.5%17.5%7.3%0.3%-8.19B-176.97B-3.34B1.616.16315,302506,2741,989,3024,469,034
2021-05-05$4171.59$4075.0014.9%4.1%10.1%10.8%15.9%6.7%0.3%3.89B-223.00B-3.32B1.797.03339,258607,9752,087,3004,695,720
2021-05-06$4187.67$3980.0014.4%4.3%10.1%8.5%20.2%6.8%0.4%5.88B-241.15B-3.33B1.684.32240,609404,0912,029,4174,693,425
2021-05-07$4233.79$3990.0012.8%3.9%10.6%0.7%16.8%5.6%0.5%40.85B-345.54B-3.26B1.614.56485,899780,9992,104,5624,876,313
2021-05-10$4206.00$4000.0014.0%4.2%10.9%6.6%18.3%6.3%0.7%4.68B-255.72B-3.32B1.844.39376,744691,9862,040,0504,722,555
2021-05-11$4148.91$4005.0017.1%4.9%12.0%21.2%21.9%8.0%0.2%-12.86B-140.43B-3.48B2.064.88319,570658,1032,037,8744,750,459
2021-05-12$4073.39$4020.0021.6%6.1%13.6%42.4%25.4%10.2%-0.2%-25.25B-4.83B-3.64B1.823.99459,842836,4632,126,4784,968,394
2021-05-13$4130.15$4025.0018.0%5.2%13.9%25.4%23.6%8.3%0.0%-10.83B-129.82B-3.53B2.324.32256,666595,5602,085,7824,928,094
2021-05-14$4175.40$4025.0014.6%4.3%14.5%9.4%19.4%7.1%0.5%5.07B-220.76B-3.46B1.864.55384,446715,5782,163,8195,099,658
2021-05-17$4162.48$4030.0015.8%4.6%14.3%15.1%21.3%7.6%0.8%-9.16B-181.38B-3.49B1.994.80292,229580,8972,058,7854,867,672
2021-05-18$4148.45$4040.0015.9%4.6%14.2%15.4%17.7%7.6%0.4%-5.35B-163.73B-3.52B2.125.04186,597396,4532,074,2204,814,105
2021-05-19$4099.15$4050.0018.2%5.2%14.5%26.5%20.6%8.6%0.0%-20.21B-73.23B-3.63B1.655.18395,971653,8032,134,9345,031,396
2021-05-20$4164.57$3925.0015.8%4.5%15.4%15.2%18.2%7.7%0.1%5.21B-624.81B-5.04B1.865.00402,129746,0644,380,5259,849,929
2021-05-21$4156.88$3925.0015.1%4.4%14.9%11.8%17.3%7.7%0.6%-4.70B-512.88B-5.05B1.674.97470,098786,5754,061,7168,939,453
2021-05-24$4203.72$3930.0013.7%3.9%15.5%5.1%15.9%6.3%0.4%23.52B-693.07B-4.81B1.735.48441,825763,6854,070,7228,906,606
2021-05-25$4189.72$3935.0014.2%4.1%15.5%7.5%16.4%6.7%0.2%9.96B-640.81B-4.86B1.695.83327,518554,8564,103,2718,934,550
2021-05-26$4195.04$3935.0013.4%3.8%15.6%3.8%15.3%6.2%-0.0%14.06B-661.01B-4.81B1.796.45332,119595,2794,237,1619,156,224
2021-05-27$4200.85$3935.0012.7%3.6%15.4%0.2%14.0%5.7%-0.0%14.92B-690.96B-4.73B1.836.59266,201487,4754,154,2549,120,517
2021-05-28$4211.55$3940.0011.9%3.4%15.1%0.0%13.5%5.3%0.2%23.04B-742.44B-4.69B1.717.57394,676676,7824,225,2939,302,073