S&P 500 ETF options
S&P 500 ETF trades at 735.29; 30-day implied volatility is 19.7%, and the market prices a ±2.98% expected move into the 2026-11-13 expiry, 6 days out.
Cheap or dear right now
- Fairly priced: IV30 is within 1 point of 20-day realised volatility, so options are priced close to recent movement.
- Over the next 6 days (expiring 2026-11-13) the market prices a one-standard-deviation move of ±2.98%, about 21.91 points.
- Skew 4.4: puts are pricier than calls, so the market is paying up for downside protection.
- Put/call volume ratio 1.73: put volume clearly outnumbers calls.
Pricing across strikes
2026-11-13 expiry (6 days), spot 735.29. The further apart the two lines, the bigger the skew.
Implied volatility by expiry
Near-dated IV above far-dated (inverted) points to short-term event risk; the reverse suggests calm now and more movement later.
Where the open interest sits
Bar height is open interest; max pain is the strike that minimises the total value of expiring options.
2026-11-13 expiry, five strikes either side of the money
IV is the implied volatility at that strike; OI is open interest.
| Call OI | Call IV | Strike | Put IV | Put OI |
|---|---|---|---|---|
| 518 | 24.3% | 730 | 24.3% | 25,107 |
| 404 | 24.1% | 731 | 24.1% | 2,394 |
| 392 | 23.9% | 732 | 23.9% | 2,290 |
| 225 | 23.6% | 733 | 23.6% | 1,346 |
| 253 | 23.5% | 734 | 23.4% | 1,454 |
| 2,240 | 23.3% | 735 ATM | 23.2% | 4,866 |
| 514 | 23.1% | 736 | 23.0% | 2,537 |
| 485 | 22.8% | 737 | 22.8% | 2,611 |
| 595 | 22.6% | 738 | 22.6% | 5,214 |
| 826 | 22.4% | 739 | 22.4% | 2,420 |
| 2,266 | 22.2% | 740 | 22.2% | 8,834 |
FAQ
Is the expected move a guarantee?
No. It is a one-standard-deviation move implied by at-the-money option prices — the market's current price for movement, not a forecast or a guarantee.
Why is IV rank empty?
IV rank needs a year of IV30 history. Our database records IV30 once a day and shows a value after 20 trading days; until then the page shows collection progress.
What does a positive skew mean?
25-delta puts carry a higher implied volatility than calls at the same expiry, so the market is paying more for downside protection — typical when hedging demand rises.
Can I trade straight off this page?
No. This is volatility and pricing information, not a buy or sell signal.
Data from CBOE delayed quotes (about 15 minutes behind), for information only and not investment advice. Options carry high risk and can lose the entire premium.