Put option on spy

Options volume exploded last Wednesday as stocks sold off in response to the ever-spiraling series of crises from Capitol Hill, with the Options Clearing Corporation OCC recording the highest single-day volume since Nov.

That includes some 3. Simultaneous with this spike in SPY put volume was a jump in the exchange-traded fund's day at-the-money implied volatility IV skew, which reflects the difference in IV levels between put options and their call counterparts.

In percentage-point terms, SPY's IV skew popped to 6. Notably, in the midst of this SPY put volume frenzy, day IV on the fund rose only as high as Likewise, the CBOE Volatility Index VIX briefly set a marginal new year-to-date high on Thursday, but eventually cooled to end the session lower and settled the week not too far above its calendar-year midpoint.

SPY Option Chain | SPDR S&P Stock - Yahoo Finance

So while short-term puts on SPY are now considerably more expensive than their corresponding call strikes, it would seem that short-term volatility expectations are still well within what's recently been the norm. From a purely practical standpoint, this bottom-lines to a less-than-ideal time for investors to hedge long stock positions via the purchase of short-term, at-the-money SPY put options, which have rarely carried a steeper IV premium in the last year relative to their call counterparts -- and as such, it's an effective reminder that the best opportunity to acquire portfolio hedges is before you need them.

SPY Options Chain - SPDR S&P ETF Trust Options Chain - MarketWatch

And from a sentiment analysis standpoint, it's interesting that SPY put volume last week attained heights previously reached on just two other occasions in the past year -- both of which coincided with election results first in the U. And to add another layer to this analysis, the number of bulls in the latest American Association of Individual Investors AAII survey tumbled, as of the week ended May 17, to the lowest level since the U.

With the appointment of a special counsel creating a considerable overhang of uncertainty in Washington, D.

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SPDR S&P (SPY) Option Chain - Stock Puts & Calls - ditycapylal.web.fc2.com

MY ACCOUNT CONTACT US SEARCH. ABOUT US NEWS AND ANALYSIS TRADING SERVICES OPTIONS EDUCATION BROKER CENTER 30 FREE TRADES. Last Wednesday's stock sell-off triggered a Brexit-style spike in put option skews on the broad-based equity ETF.

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