SPDR S&P 500 ETF TRUST (SPY) Options Statistics & Positioning

SPDR S&P 500 ETF TRUST (SPY) options trade at a 30-day at-the-money implied volatility of 12.2%, an IV rank of 19 out of 100 over the past year. The options market prices a ±$26.21 (±3.4%) move in SPY for the front expiration. Max pain sits at $765 and the put/call open interest ratio is 2.22. Statistics are computed by OptiView from delayed OPRA options data and refresh every trading day.

Data as of Oct 9, 2026, 3:55 PM ET · OPRA data 15 minutes delayed · For information only — not investment advice.

Last close

$778.44

52-week range

$632.18 – $779.16

ATM IV (30d)

12.2%

IV rank

19 / 100

Low

Expected move

±$26.21 (±3.4%)

Put/call OI

2.22

Put-heavy

Max pain

$765

↓ 1.7% below close

What's SPY's IV rank right now?Where's the max pain for SPY?Explain what gamma exposure means for SPY.

Most Active SPY Contracts

Contract	Expiration	DTE	Last	IV	Volume
SPY $777 put	Oct 13, 2026	1d	$0.93	8.7%	84,851
SPY $778 put	Oct 13, 2026	1d	$1.33	8.4%	83,647
SPY $778 call	Oct 13, 2026	1d	$1.43	8.7%	83,558
SPY $779 call	Oct 13, 2026	1d	$0.96	8.6%	77,118
SPY $780 call	Oct 13, 2026	1d	$0.62	8.5%	65,736

See all active SPY contracts →

Explore SPY Options Statistics

SPY Implied Volatility

12.2% ATM IV (30d)

An IV rank of 19 places implied volatility in the lower part of its 52-week range.

Full implied volatility analysis →

SPY Open Interest

2.22 put/call OI ratio

5,905,436 calls and 13,093,380 puts outstanding across all expirations.

Full open interest analysis →

SPY Max Pain

$765 max pain

1.7% below the last close — see how max pain has moved over the past year.

Full max pain analysis →

SPY Gamma Exposure

$475.63B net GEX

Positive dealer gamma — hedging currently leans against price swings.

Full gamma exposure analysis →

SPY Options Volume

10,953,774 contracts traded

Put/call volume ratio 1.06 — plus contracts running far above their usual volume.

Full volume & flow analysis →

SPY Most Active Options

$778 top volume strike

The 25 most actively traded SPY contracts with price, IV, greeks, and volume vs. average.

Full active contracts analysis →

Explore the payoff profile of option on SPY for free

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SPY Options FAQ

How often is SPY options data on this page updated?

All SPY statistics on this page are computed by OptiView from delayed OPRA options data and refresh every trading day after the session close.

Where can I see SPY max pain, open interest, and implied volatility in detail?

OptiView publishes dedicated SPY pages for implied volatility, max pain, open interest, gamma exposure, options volume, and the most active contracts — each with charts, history, and a plain-English explanation of what the numbers mean.

Methodology. IV rank compares the current 30-day at-the-money implied volatility with its highest and lowest values over the past 52 weeks. Max pain is the strike that minimizes the total payout to option holders at expiration. The call and put walls are the strikes carrying the largest call and put open interest across all expirations. Net gamma exposure (GEX) is measured from the dealer perspective. All statistics are derived from delayed OPRA options data.

Options trading involves significant risk, and losses can exceed your initial investment. Always consult a licensed financial professional before making investment decisions. OptiView does not provide financial advice; all figures on this page are descriptive statistics, not recommendations.