SPY Options
SPY $756.26 · Updated Nov 10, 4:00 PM ET
SPY is at $756.26. The nearest expiration, Nov 11, 2026 (1 day out), lists 165 strikes, with 579,814 calls and 618,617 puts traded in the latest session. At-the-money implied volatility is 13.9%. The at-the-money straddle prices a move of about $6.34 (0.8%) by expiration.
SPY Options Chain
SPY is at $756.26. The nearest expiration, Nov 11, 2026 (1 day out), lists 165 strikes, with 579,814 calls and 618,617 puts traded in the latest session. At-the-money implied volatility is 13.9%. The at-the-money straddle prices a move of about $6.34 (0.8%) by expiration.
SPY Gamma Exposure (GEX)
SPY total dealer gamma exposure is -$7.33B across all listed expirations. Negative GEX means dealers are net short gamma; their hedging tends to amplify price moves. The gamma flip is $755.66, with spot 0.1% above it. The call wall is $760.00 and the put wall $750.00.
SPY Max Pain
SPY max pain for Nov 11, 2026 (1 day out) is $749.00, 1.0% below the current $756.26. That is the settlement price at which the open contracts on that date would pay holders the least. For Dec 11, 2026, max pain is $761.00.
SPY Put/Call Ratio (Put to Call Ratio)
Across every listed SPY expiration, the put/call ratio is 1.03 by volume and 2.08 by open interest. More puts than calls are trading, a defensive tilt. 10,081,760 puts and 4,840,968 calls are open in total.
SPY Implied Volatility
SPY at-the-money implied volatility is 13.9% for Nov 11, 2026 (1 day out). For Dec 11, 2026 it is 14.9%. Longer-dated volatility is priced at or above near-term volatility, the normal upward-sloping term structure.
SPY Open Interest by Strike
Across all SPY expirations, the largest call open interest near the current $756.26 sits at the $800.00 strike (359,167 contracts) and the largest put open interest at $700.00 (437,432). 4,840,968 calls and 10,081,760 puts are open in total.
SPY Expected Move
The options market prices SPY to move about $6.34 (0.8%) by Nov 11, 2026, a range of $749.92 to $762.60. For Dec 11, 2026 (31 days out) the expected move is $28.22 (3.7%).