{"slug":"how-event-contracts-settle","qid":"exit_liquidity","label":"Where SPY option volume sits across the last 30 days of contract life","post_title":"How Event Contracts Settle: Payout and Fees","post_url":"/blog/how-event-contracts-settle#q-exit_liquidity","columns":["days_to_expiry","traded_volume_millions"],"rows":[{"days_to_expiry":1,"traded_volume_millions":134.6},{"days_to_expiry":2,"traded_volume_millions":32.5},{"days_to_expiry":3,"traded_volume_millions":46.9},{"days_to_expiry":4,"traded_volume_millions":30.2},{"days_to_expiry":5,"traded_volume_millions":15.1},{"days_to_expiry":6,"traded_volume_millions":14},{"days_to_expiry":7,"traded_volume_millions":25.1},{"days_to_expiry":8,"traded_volume_millions":15.2},{"days_to_expiry":9,"traded_volume_millions":10.8},{"days_to_expiry":10,"traded_volume_millions":9.7},{"days_to_expiry":11,"traded_volume_millions":7.9},{"days_to_expiry":12,"traded_volume_millions":2.8},{"days_to_expiry":13,"traded_volume_millions":3.5},{"days_to_expiry":14,"traded_volume_millions":6.8},{"days_to_expiry":15,"traded_volume_millions":5.8},{"days_to_expiry":16,"traded_volume_millions":4.4},{"days_to_expiry":17,"traded_volume_millions":5.5},{"days_to_expiry":18,"traded_volume_millions":3.6},{"days_to_expiry":19,"traded_volume_millions":0.3},{"days_to_expiry":20,"traded_volume_millions":0.9},{"days_to_expiry":21,"traded_volume_millions":4.9},{"days_to_expiry":22,"traded_volume_millions":4.8},{"days_to_expiry":23,"traded_volume_millions":3.4},{"days_to_expiry":24,"traded_volume_millions":2.8},{"days_to_expiry":25,"traded_volume_millions":2.9},{"days_to_expiry":26,"traded_volume_millions":0.2},{"days_to_expiry":27,"traded_volume_millions":0.6},{"days_to_expiry":28,"traded_volume_millions":3.9},{"days_to_expiry":29,"traded_volume_millions":3.3},{"days_to_expiry":30,"traded_volume_millions":4.6}],"shape":"table","sql":"SELECT\n    days_to_expiry,\n    round(sum(volume) / 1000000, 1) AS traded_volume_millions\nFROM global_markets.options_greeks\nWHERE underlying_symbol = 'SPY'\n  AND date >= '2026-01-02'\n  AND date <  '2026-07-01'\n  AND volume > 0\n  AND iv_converged = 1\n  AND days_to_expiry BETWEEN 0 AND 30\nGROUP BY days_to_expiry\nORDER BY days_to_expiry","computed_at":"2026-08-09T15:34:00.944382+00:00","elapsed":0.0018988}