SPY at-the-money implied volatility near 30 days to expiry, monthly averages (Jul 2025 to Jul 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 2026-08-14, from What Is the VIX? What It Really Measures.
| month | month_label | avg_iv_pct | lowest_print_pct | highest_print_pct | contracts |
|---|---|---|---|---|---|
| 2025-07-01 | July 2025 | 13.5 | 8.7 | 17.9 | 508 |
| 2025-08-01 | August 2025 | 12.5 | 8.8 | 18.2 | 561 |
| 2025-09-01 | September 2025 | 12.6 | 8.8 | 18.8 | 587 |
| 2025-10-01 | October 2025 | 14.7 | 11.5 | 22 | 733 |
| 2025-11-01 | November 2025 | 16.4 | 11.1 | 26.7 | 695 |
| 2025-12-01 | December 2025 | 12.8 | 9.9 | 19.2 | 660 |
| 2026-01-01 | January 2026 | 13.3 | 10.7 | 20 | 573 |
| 2026-02-01 | February 2026 | 15.8 | 12.1 | 24.9 | 742 |
| 2026-03-01 | March 2026 | 21.2 | 13.6 | 33.3 | 1136 |
| 2026-04-01 | April 2026 | 17.3 | 8.8 | 42.2 | 801 |
| 2026-05-01 | May 2026 | 14.6 | 11.8 | 20 | 740 |
| 2026-06-01 | June 2026 | 15.2 | 10.5 | 28.4 | 814 |
| 2026-07-01 | July 2026 | 14.2 | 10.7 | 19.9 | 804 |
- Rows × columns
- 13 × 6
- Period covered
- to
- 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 |
|---|---|---|---|
month |
date | 2025-07-01 to 2026-07-01 | |
month_label |
text | 13 distinct values (April 2026, August 2025, December 2025…) | |
avg_iv_pct |
number | 12.5 to 21.2 | percent |
lowest_print_pct |
number | 8.7 to 13.6 | percent |
highest_print_pct |
number | 17.9 to 42.2 | percent |
contracts |
number | 508 to 1,136 | count |
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.
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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 toStartOfMonth(date) AS month,
formatDateTimeInJodaSyntax(toStartOfMonth(date), 'MMMM yyyy') AS month_label,
round(avg(implied_volatility) * 100, 1) AS avg_iv_pct,
round(min(implied_volatility) * 100, 1) AS lowest_print_pct,
round(max(implied_volatility) * 100, 1) AS highest_print_pct,
count() AS contracts
FROM global_markets.options_greeks
WHERE underlying_symbol = 'SPY'
AND date >= toDate('2025-07-01')
AND date < toDate('2026-08-01')
AND abs(delta) BETWEEN 0.45 AND 0.55
AND days_to_expiry BETWEEN 23 AND 37
AND iv_converged
AND implied_volatility BETWEEN 0.02 AND 3
GROUP BY month
ORDER BY month
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