SPDR S&P 500 ETF Trust (SPY) option IV into FOMC meeting

SPDR S&P 500 ETF Trust (NYSE: SPY) 30-day option implied volatility is at 14; compared to its 52-week range of 13 to 31 into Treasury Secretary Janet Yellen on Monday warned that the United States could run out of cash and default on its debt repayments as early as June 1, should the government fail to raise the debt limit and FOMC policy meeting.

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