SPY Options
SPY $766.28 · Updated Oct 26, 4:00 PM ET
SPY is at $766.28. The nearest expiration, Oct 27, 2026 (1 day out), lists 149 strikes, with 517,686 calls and 554,539 puts traded in the latest session. At-the-money implied volatility is 11.8%. The at-the-money straddle prices a move of about $3.84 (0.5%) by expiration.
SPY Options Chain
SPY is at $766.28. The nearest expiration, Oct 27, 2026 (1 day out), lists 149 strikes, with 517,686 calls and 554,539 puts traded in the latest session. At-the-money implied volatility is 11.8%. The at-the-money straddle prices a move of about $3.84 (0.5%) by expiration.
SPY Gamma Exposure (GEX)
SPY total dealer gamma exposure is -$9.09B across all listed expirations. Negative GEX means dealers are net short gamma; their hedging tends to amplify price moves. The gamma flip is $772.57, with spot 0.8% below it. The call wall is $800.00 and the put wall $755.00.
SPY Max Pain
SPY max pain for Oct 27, 2026 (1 day out) is $767.00, 0.1% above the current $766.28. That is the settlement price at which the open contracts on that date would pay holders the least. For Nov 27, 2026, max pain is $771.00.
SPY Put/Call Ratio
Across every listed SPY expiration, the put/call ratio is 1.54 by volume and 2.54 by open interest. More puts than calls are trading, a defensive tilt. 10,248,158 puts and 4,042,027 calls are open in total.
SPY Implied Volatility
SPY at-the-money implied volatility is 11.8% for Oct 27, 2026 (1 day out). For Nov 27, 2026 it is 14.3%. 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 $766.28 sits at the $800.00 strike (283,986 contracts) and the largest put open interest at $700.00 (398,886). 4,042,027 calls and 10,248,158 puts are open in total.
SPY Expected Move
The options market prices SPY to move about $3.84 (0.5%) by Oct 27, 2026, a range of $762.44 to $770.13. For Nov 27, 2026 (32 days out) the expected move is $26.21 (3.4%).