{"slug":"buying-and-selling-call-options","qid":"leverage","label":"SPY vs the call, both indexed to 100 on May 1","post_title":"Buying and Selling Call Options","post_url":"/blog/buying-and-selling-call-options#q-leverage","columns":["date","spy_index","call_index"],"rows":[{"date":"2026-05-01","spy_index":100,"call_index":100},{"date":"2026-05-04","spy_index":99.7,"call_index":83},{"date":"2026-05-05","spy_index":100.9,"call_index":112.6},{"date":"2026-05-06","spy_index":101.8,"call_index":183.9},{"date":"2026-05-07","spy_index":101.6,"call_index":163.4},{"date":"2026-05-08","spy_index":102.5,"call_index":200.8},{"date":"2026-05-11","spy_index":102.7,"call_index":216.2},{"date":"2026-05-12","spy_index":102.3,"call_index":195.3},{"date":"2026-05-13","spy_index":103.3,"call_index":239.2},{"date":"2026-05-14","spy_index":103.8,"call_index":283.7},{"date":"2026-05-15","spy_index":102.4,"call_index":190},{"date":"2026-05-18","spy_index":102.6,"call_index":180.3},{"date":"2026-05-19","spy_index":102,"call_index":142.7},{"date":"2026-05-20","spy_index":102.5,"call_index":193.6},{"date":"2026-05-21","spy_index":103.4,"call_index":200.6},{"date":"2026-05-22","spy_index":103.3,"call_index":216.3},{"date":"2026-05-26","spy_index":104.3,"call_index":254.8},{"date":"2026-05-27","spy_index":104.2,"call_index":246.8},{"date":"2026-05-28","spy_index":104.9,"call_index":286.7},{"date":"2026-05-29","spy_index":105,"call_index":295.2},{"date":"2026-06-01","spy_index":105.1,"call_index":311.6},{"date":"2026-06-02","spy_index":105.5,"call_index":325.5},{"date":"2026-06-03","spy_index":104.2,"call_index":254.8},{"date":"2026-06-04","spy_index":104.8,"call_index":277},{"date":"2026-06-05","spy_index":102.1,"call_index":100.7},{"date":"2026-06-08","spy_index":102.6,"call_index":108.7},{"date":"2026-06-09","spy_index":102.2,"call_index":93.2},{"date":"2026-06-10","spy_index":100.4,"call_index":43.9},{"date":"2026-06-11","spy_index":102.7,"call_index":97.2},{"date":"2026-06-12","spy_index":103.1,"call_index":98.2},{"date":"2026-06-15","spy_index":104.7,"call_index":213.4}],"shape":"series","sql":"SELECT date,\n       round(spy / first_value(spy) OVER w * 100, 1) AS spy_index,\n       round(opt / first_value(opt) OVER w * 100, 1) AS call_index\nFROM (\n  SELECT date, avg(underlying_close) AS spy, avg(option_close) AS opt\n  FROM global_markets.options_greeks\n  WHERE ticker = 'O:SPY260618C00740000' AND date BETWEEN '2026-05-01' AND '2026-06-15' AND implied_volatility > 0.02\n  GROUP BY date\n)\nWINDOW w AS (ORDER BY date)\nORDER BY date","computed_at":"2026-07-16T09:34:01.840857+00:00","elapsed":0.001866098}