Options compare
IWM vs SPY options
Figures as of 29 Sep 2026
This page sets iShares Russell 2000 ETF (IWM) beside SPDR S&P 500 ETF (SPY), both from the same option chain capture. The options figures are from the close on 29 Sep 2026. On 29 Sep 2026, IWM had the higher IV rank, 39 against 33 for SPY.
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Options side by side
On 29 Sep 2026, IWM had the higher IV rank, 39 against 33 for SPY.
| Figure | IWM | SPY |
|---|---|---|
| Sector | Fund | Fund |
| IV rank | 39 of 100 | 33 of 100 |
| Implied volatility, at the money, near month | 19.3% | 13.6% |
| Implied move, near month | 6.2% down, 5.3% up to 30 Oct | 4.9% down, 3.5% up to 30 Oct |
| Net dollar gamma, one percent move | minus $4.79 billion | minus $8.47 billion |
| Put/call ratio, open interest | 2.06 | 1.58 |
| Options traded, latest close | 902,242 contracts, 0.7 times its recent average | 3.56 million contracts, 0.9 times its recent average |
| Signal on the Free plan, paper trading | Bullish signal, not measured | Bullish signal, not measured |
IV rank is where the at the money IV sits among the name's own weekly readings, 0 the lowest and 100 the highest.
Implied move is the move the option chain prices to the expiry nearest 30 days out. It restates option prices and says nothing certain about where the price goes.
Net dollar gamma is calls minus puts, stated for a one percent move in the price.
From the option chain at the close on 29 Sep 2026. Current on every plan.
Signal status
On the Free plan, IWM has a bullish signal, not measured from 25 Sep 2026. On the Free plan, SPY has a bullish signal, not measured from 25 Sep 2026.
The Free plan shows the model's signals one trading day behind. Membership gets tonight's signals the night they publish.
Paper trading. The model's figures from 25 Sep 2026, one trading day behind, as the Free plan shows them.
Your AI
Ask about IWM and SPY in Your AI through the RingMaster connector.
The connector is free to add on any plan, and a Free key shows signals one trading day behind.
Questions
- How do IWM and SPY compare on IV rank?
- On 29 Sep 2026, IWM's IV rank was 39 of 100 and SPY's was 33 of 100.
- What move do IWM and SPY options price?
- IWM's near month options priced a move of 6.2 percent down and 5.3 percent up by 30 Oct 2026. SPY's near month options priced a move of 4.9 percent down and 3.5 percent up by 30 Oct 2026.
- How do the put/call ratios of IWM and SPY compare?
- IWM's put/call ratio on open interest was 2.06 and SPY's was 1.58.
- What are the latest signals for IWM and SPY on the Free plan?
- On the Free plan, IWM has a bullish signal, not measured from 25 Sep 2026. On the Free plan, SPY has a bullish signal, not measured from 25 Sep 2026. It is paper trading.
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