Listed versus traded strikes by moneyness (SPY, Sep 18 2026 expiry, as of Aug 14 2026)
Answered against 22 years of US equities and 12 years of US options data and published with the query that produced it. This result is stored as of 2026-11-07, from How VIX Settlement Works: the SOQ.
| moneyness_band | listed_strikes | traded_strikes |
|---|---|---|
| -20% to -16% | 12 | 12 |
| -16% to -12% | 21 | 21 |
| -12% to -8% | 31 | 31 |
| -8% to -4% | 31 | 31 |
| -4% to 0% | 32 | 32 |
| 0% to 4% | 31 | 31 |
| 4% to 8% | 20 | 20 |
| 8% to 12% | 5 | 5 |
| 12% to 16% | 6 | 6 |
| 16% to 20% | 1 | 1 |
- Rows × columns
- 10 × 3
- Computed
- Completeness
- No missing values
- Source
- US exchange, SIP and OPRA market data
- Licence
- Strasmore terms · free, no signup
What each column holds
| Column | Type | Range | Notes |
|---|---|---|---|
moneyness_band |
text | 10 distinct values (-12% to -8%, -16% to -12%, -20% to -16%…) | |
listed_strikes |
number | 1 to 32 | |
traded_strikes |
number | 1 to 32 |
Computed from Strasmore's warehouse of US exchange, SIP and OPRA market data. Equity prices are delayed; options greeks and implied volatility are end-of-day. This result is stored, not recomputed on load — it is exactly the numbers that were returned on , and the query below is what returned them.
Run it yourself
This is the exact query behind the result above. Change a ticker, a date or a column and run it against the warehouse — no account, no key. The no-signup tier is smaller than the one this page was computed on; a query that reaches past it comes back saying which plan runs it.
SELECT
concat(toString(pct_band), '% to ', toString(pct_band + 4), '%') AS moneyness_band,
countDistinct(strike_price) AS listed_strikes,
countDistinctIf(strike_price, volume > 0) AS traded_strikes
FROM
(
SELECT
strike_price,
volume,
toInt32(floor((toFloat64(strike_price) / toFloat64(underlying_close) - 1) * 25) * 4) AS pct_band
FROM global_markets.options_greeks
WHERE underlying_symbol = 'SPY'
AND date = '2026-08-14'
AND expiration_date = '2026-09-18'
AND underlying_close > 0
)
WHERE pct_band BETWEEN -20 AND 16
GROUP BY pct_band
ORDER BY pct_band
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