This image illustrates the notional open interest of US-listed options expiring on June 21, 2024, with a total notional value of $5.1 trillion. The breakdown is as follows:
Full 21-Jun Expiration: $5.1tn Notional
- **SPX AM**: $2.9tn (AM Settlement: $3.1tn)
- **Non-SPX Index**: $185bn
- **SPY**: $280bn
- **SPX PM**: $430bn
- **Non-SPY ETF**: $455bn
- **Single Stock**: $870bn (PM Settlement: $2.0tn)
Key Points
1. **SPX AM** (S&P 500 Index options with AM settlement) has the largest notional value of $2.9 trillion.
2. **Single Stock options** have a significant notional value of $870 billion.
3. **SPX PM** (S&P 500 Index options with PM settlement) has a notional value of $430 billion.
4. **SPY options** (SPDR S&P 500 ETF) have a notional value of $280 billion.
5. **Non-SPY ETF options** have a notional value of $455 billion.
6. **Non-SPX Index options** have the smallest notional value of $185 billion.
Settlement Breakdown
- **AM Settlement**: $3.1tn
- **PM Settlement**: $2.0tn
This breakdown helps in understanding the distribution of option expirations and the potential impact on the market due to such significant volumes.
