SPY options: $944M premium turnover into 2026-08-04; largest line SPY260804C00762000 $50MSPY 期权异动：期权成交额约 $944M，到期 2026-08-04，最大合约 SPY260804C00762000 约 $50M
Options Flow Snapshot
On August 4, 2026, the SPDR S&P 500 ETF (SPY) saw concentrated options activity, with an underlying price of $757.64 that day. A total of 3,947,584 option contracts traded, with total premium turnover of $944 million, equal to 2.4% of the underlying stock’s daily dollar volume. 6,676 contracts were observed in the near-the-money window, with 2,346,099 call contracts and 1,601,485 put contracts, for a call/put volume ratio of 1.465. The largest single active contract was SPY260804C00762000: an August 4, 2026 expiration call option with a $762 strike price, totaling 169,068 contracts and $50 million in premium turnover. The ATM straddle implied move was 0.9%, average near-the-money call IV was 146.3%, average put IV was 116.7%, with a 29.6 percentage point call-put IV skew.
Signal Read-Through
This signal falls into the category of concentrated call option activity + upside implied volatility skew: the largest traded contract is an out-of-the-money upside call with a strike price slightly above the day’s underlying price, and call IV is notably higher than put IV, indicating market participants are pricing in near-term upside for SPY. The total trading volume ranks first among the top 10 signals across 30 symbols over three trading days, marking elevated concentration in options positioning.
Fundamental and Event Cross-Check
SPY is the largest listed S&P 500 ETF, and its options activity aligns temporally with August 4, 2026 market news: reports cited Iran deal hopes and Caterpillar stock gains driving the S&P 500 to record highs. Only May 2026 SEC N-30D and NPORT-P filings are available, and SPY tracks an index rather than reporting individual corporate earnings, so no recent standalone earnings data is available for cross-reference.
Follow-Up Markers
Monitor SPY’s underlying price action through the August 4, 2026 expiration to see if it matches the 0.9% implied move, and track subsequent options open interest shifts and macro news flow alignment. This signal only reflects current options pricing and concentrated trading activity, and does not confirm that SPY’s near-term upside will materialize.
期权成交结构
2026年8月4日，SPDR标普500ETF（SPY）出现集中期权成交信号：当日标的价格为757.64美元，共成交3947584份期权合约，权利金总成交额达9.44亿美元，占当日股票成交额的2.4%。近价内期权窗口内共观测到6676笔合约，看涨期权成交量2346099份，看跌期权1601485份，看涨看跌成交量比率为1.465。最大单笔活跃合约为SPY260804C00762000，为8月4日到期的看涨期权，行权价762美元，成交量169068份，权利金成交额约5000万美元。当日平值跨式期权隐含波动幅度为0.9%，近价内看涨期权平均隐含波动率146.3%，看跌期权平均隐含波动率116.7%，看涨看跌隐含波动率价差为29.6个百分点。
信号含义
本次信号属于看涨期权集中成交+上行隐含波动率偏斜类型：最大成交合约为行权价略高于当日标的价格的看涨期权，看涨期权隐含波动率显著高于看跌期权，显示市场参与者正在为SPY的短期上行定价。同时整体期权成交规模处于3个交易日内30个标的的10大信号首位，成交集中度较高。
基本面与事件交叉验证
SPY作为全球规模最大的标普500ETF，当日期权成交与2026年8月4日的市场新闻存在时间重合：当日市场因伊朗协议预期、卡特彼勒等个股上涨推动标普500触及历史新高。SEC方面仅披露了2026年5月的N-30D和NPORT-P备案文件，SPY作为指数跟踪ETF无独立盈利报告，无近期个体盈利数据可供交叉验证。
后续关注
需关注SPY在2026年8月4日到期前的标的价格走势是否符合0.9%的隐含波动幅度，同时跟踪后续期权持仓变化与宏观新闻流的匹配情况。本信号仅反映当前期权定价与成交的集中情况，无法证明SPY的短期上行一定会兑现。
This analysis was generated by InvestLog AI based on SEC filings, Form 4 insider transactions, Form 144 planned-sale notices, 13F institutional holdings, analyst ratings, and market data. It is for informational purposes only and does not constitute investment advice.这篇研究由 InvestLog AI 基于 SEC 披露、Form 4 内部人交易、Form 144 计划减持、13F 机构持仓、分析师评级和市场数据生成。内容仅供参考，不构成投资建议。