SPX Options History — September 2021

In September 2021, SPX traded between $4324.03 and $4537.43. ATM implied volatility averaged 14.8%, placing in the 18.8% IV rank vs the trailing year. The 30-day expected move averaged 4.3%. IV traded above realized volatility by 5.0% (HV 20d: 9.8%). Max pain ranged from $4270.00 to $4400.00. Net GEX was positive for 11 of 21 trading days. Term structure was in contango for 20 of 21 days. Put/call ratio averaged 1.90.

Notable Days

  • 2021-09-20: Highest Volume — 2,382,139 contracts
  • 2021-09-20: Largest IV spike — 36.9% change
  • 2021-09-20: Highest IV Rank — 43.6%
  • 2021-09-20: Largest Expected Move — 6.1%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$4448.37$4324.03$4537.43$4526.06$4324.03
Max Pain$4361.19$4270.00$4400.00$4270.00$4375.00
ATM IV14.8%10.6%20.6%11.3%19.4%
Expected Move4.3%2.8%6.1%2.8%5.8%
HV 20d9.8%7.3%13.7%7.3%13.7%
HV 60d10.6%9.8%12.1%9.9%12.1%
IV Rank18.8%1.1%43.6%3.9%38.4%
IV Percentile39.2%1.2%82.5%5.6%81.0%
Term Structure0.4%-0.0%0.8%0.6%-0.0%
VWIV17.6%11.0%24.3%11.0%20.9%
Skew 25d8.1%6.0%11.0%6.1%10.0%
Skew 10d15.5%12.1%21.0%12.4%17.3%
Call IV 25d11.6%8.8%15.5%9.4%14.7%
Put IV 25d19.7%14.8%26.5%15.4%24.7%
Bid-Ask Spread %6.533.7113.319.519.46
Gamma HHI0.020.010.040.040.02
Net GEX-1.49B-38.93B44.06B42.88B-38.93B
Net DEX-533.84B-1031.45B340.8M-961.96B340.8M
Net VEX-5.10B-5.60B-4.60B-4.77B-5.60B
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.901.592.171.961.59
Total Volume1,467,411.952782,0332,382,1391,099,9651,931,023
Total OI13,636,595.47611,755,27315,206,18813,855,67713,688,534

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2021-09-01$4526.06$4270.0011.3%2.8%7.3%3.9%11.0%6.1%0.6%42.88B-961.96B-4.77B1.969.51371,920728,0454,263,4089,592,269
2021-09-02$4529.12$4325.0011.7%3.6%7.3%5.4%14.7%6.3%0.4%33.93B-958.63B-4.78B1.683.71291,900490,1334,281,4169,596,866
2021-09-03$4537.43$4330.0010.6%3.4%7.3%1.1%15.2%6.0%0.8%44.06B-1031.45B-4.60B2.123.92417,081883,5614,359,3399,884,342
2021-09-07$4522.66$4350.0012.1%3.7%7.4%7.3%15.6%7.0%0.4%27.47B-941.78B-4.64B2.084.18454,493945,0924,284,4399,547,546
2021-09-08$4512.09$4350.0012.6%3.8%7.5%9.5%15.1%7.3%0.5%13.86B-825.35B-4.78B2.014.72480,709966,1584,318,2459,736,991
2021-09-09$4503.55$4350.0013.1%3.9%7.6%11.5%15.5%7.4%0.4%8.92B-843.31B-4.91B1.864.29335,246624,1484,360,6439,951,675
2021-09-10$4464.15$4350.0015.0%4.4%8.2%19.5%17.0%8.5%0.3%-20.89B-639.99B-5.06B2.126.21615,7711,303,3604,450,24310,318,663
2021-09-13$4462.34$4350.0014.8%4.3%8.2%18.7%17.3%8.3%0.4%-6.47B-658.97B-4.98B2.175.51571,6091,238,8544,393,9379,972,190
2021-09-14$4441.06$4375.0015.1%4.4%8.3%20.2%17.2%8.5%0.2%-13.51B-564.50B-5.07B1.765.40455,811803,3784,471,26210,195,583
2021-09-15$4485.97$4375.0013.2%3.8%8.6%11.8%16.1%7.3%0.3%9.38B-834.76B-4.78B1.814.77636,7401,152,7544,576,43310,629,755
2021-09-16$4478.94$4380.0013.3%3.8%8.3%12.4%18.2%7.5%0.3%4.27B-778.97B-4.94B1.825.97442,051806,2634,597,71010,512,438
2021-09-17$4432.87$4375.0015.0%4.3%9.2%19.9%18.2%8.5%0.2%-18.34B-268.91B-5.11B1.836.23609,4821,116,6393,485,7658,562,613
2021-09-20$4339.46$4380.0020.6%6.1%11.5%43.6%24.3%11.0%0.3%-30.57B-27.06B-5.40B1.857.01835,1791,546,9603,436,0278,319,246
2021-09-21$4366.16$4400.0018.6%5.5%11.2%35.1%21.7%9.8%0.3%-26.69B-109.98B-5.33B1.916.60411,857786,6983,535,4568,547,226
2021-09-22$4401.41$4375.0016.4%4.7%11.6%25.4%20.1%8.8%0.2%-14.85B-235.02B-5.37B1.767.05539,137947,6193,775,9829,106,847
2021-09-23$4452.37$4375.0014.1%4.0%12.4%15.9%16.5%7.7%0.4%3.69B-414.45B-5.35B1.746.53482,250838,5603,829,2339,034,475
2021-09-24$4462.16$4375.0013.0%3.7%12.2%11.0%15.8%7.4%0.6%12.20B-472.68B-5.32B1.957.00464,709907,9203,948,3819,364,435
2021-09-27$4447.37$4375.0013.7%3.8%11.8%14.1%16.3%7.5%0.7%3.52B-410.30B-5.31B2.137.75427,894911,4133,864,2449,040,361
2021-09-28$4360.37$4375.0018.5%5.5%13.4%34.5%21.7%9.5%0.2%-28.36B-117.69B-5.55B2.1313.31514,5461,095,0743,898,7079,126,809
2021-09-29$4366.15$4375.0018.6%5.5%13.5%35.2%21.4%10.0%0.1%-36.91B-115.16B-5.53B1.678.00537,597896,0173,992,8909,515,881
2021-09-30$4324.03$4375.0019.4%5.8%13.7%38.4%20.9%10.0%-0.0%-38.93B340.8M-5.60B1.599.46745,9411,185,0824,096,5189,592,016