Trade: SPY (SPY) Up or Down on May 11?
Resolution criteria on PolyGram: This market will resolve to "Up" if the Close price for S&P 500 (SPY) on May 11, 2026 is higher than the Close price for S&P 500 (SPY) on the most recent prior trading day. This market will resolve to "Down" if the Close price for S&P 500 (SPY) on May 11, 2026 is lower than the Close price for S&P 500 (SPY) on the most recent prior trading day. E.g., ordinarily, a market on Monday would refer to the previous Friday for its most recent closing price, unless that Friday were a market holiday, in which case it would refer to Thursday, or the next most recent trading day. If the two specified closing prices are exactly equal, this market will resolve 50-50.
PolyGram is an on-chain prediction market where you trade YES or NO outcome shares with real USDC on Polygon. For this market, buy YES if you believe the event will happen, or NO if you think it won't. Your maximum loss is your stake — winning shares pay $1.00 each at resolution. Unlike sportsbooks, there is no house edge: prices are set by supply and demand from other traders and reflect the crowd's real-time probability.
- Liquidity
- $19K
- Total Volume
- $41K
- 24h Volume
- $41K
- Open Interest
- $5K
Market outcomes
| SPY (SPY) Up or Down on May 11? | 37% YES | 63% NO |
Market context
On 11 May 2026, traders are pricing the probability of the S&P 500 closing higher than its previous trading day at 45% on Polymarket's order book. This represents a slight bearish lean, with the market implying a marginally higher likelihood of a down day. The settlement hinges on intraday price action during a single session, making this a volatility-sensitive contract where overnight gaps and morning momentum carry outsized weight.
Single-day directional bets on broad equity indices historically cluster around 50-52% for up days during neutral market regimes, reflecting the slight upward drift of equities over time. The current 45% probability suggests traders are pricing in either elevated near-term headwinds or positioning ahead of known catalysts. Comparable single-day SPY contracts typically see probability shifts of 3-5 percentage points following macroeconomic data releases or Federal Reserve communications, with volatility expanding around earnings seasons or geopolitical developments.
Traders should monitor the economic calendar for any data releases scheduled between the prior close and 11 May settlement, including inflation prints, employment figures, or retail sales that could influence opening gaps. Treasury yield movements and crude oil prices often drive early-session momentum in broad indices. Any significant overnight developments in international markets or corporate earnings surprises would likely shift the order book probability materially before the US open. The current 45% bid reflects genuine uncertainty rather than conviction in either direction.
Wikipedia Context
-
Ninjago: Tournament of ElementsTournament of Elements is the fourth season of the animated television series Ninjago: Masters of Spinjitzu. The series was created by Michael Hegner and Tommy Andreasen. The season aired from February 23 to April 3, 2015, following the third season titled Rebooted. It is succeeded by the fifth season, titled Possession.
-
SpySheriffSpySheriff was malware that disguised itself as anti-spyware software created by Innovative Marketing Inc. or under alternate name Innovagest 2000. It attempted to mislead the user with false security alerts, threatening them into buying the program. Like other rogue antiviruses, after producing a list of false threats, it prompted the user to pay to remove
-
Spy Smasher (serial)Spy Smasher is a 12-episode 1942 Republic serial film based on the Fawcett Comics character Spy Smasher which is now a part of DC Comics. It was the 25th of the 66 serials produced by Republic. The serial was directed by William Witney with Kane Richmond and Marguerite Chapman as the leads. The serial was Chapman's big break into a career in film and televis
-
Spy shipA spy ship or reconnaissance vessel is a dedicated ship intended to gather intelligence, usually by means of sophisticated electronic eavesdropping. In a wider sense, any ship intended to gather information could be considered a spy ship.
Resolution source
This market settles from the official outcome published at https://pythdata.app/explore/Equity.US.SPY%2FUSD. A proposer submits the final result to the UMA optimistic oracle on Polygon; the two-hour dispute window closes and payouts clear in USDC.
How to trade this market step by step
The mechanics for trading "SPY (SPY) Up or Down on May 11?" are the same as any other PolyGram event contract. Each YES share resolves to $1 if the event happens, or $0 if it doesn't. The current price between 0¢ and 100¢ is the market's probability estimate, set live by the order book.
- Sign in on polygram.ink with your email — no full KYC under $1,500 lifetime trading volume.
- Deposit USDC on Polygon (lowest fees, ~$0.01 per transaction) or Ethereum. Funds credit after 12 confirmations.
- Pick a side. Buy YES if you believe the event will happen; buy NO if you think it won't. The current YES price reflects the market's collective probability.
- Size your position. If you stake 100 USDC at 37% YES, you'll receive shares that pay $270 if YES resolves true — a 170% gross return. If NO resolves, your shares are worth $0.
- Set risk controls (optional). Stop-loss, take-profit, and limit-order types all supported. Use the trade ticket's slippage box to cap your maximum entry price.
- Wait for resolution. When the event resolves on-chain via the UMA optimistic oracle, the winning side settles to 100¢ automatically and USDC hits your balance within seconds. Withdrawable to any wallet you control.
How active is this market?
$41K in lifetime turnover and $19K of resting liquidity puts this market in the around the median by volume for finance contracts on PolyGram. Order-book depth is modest — expect a couple of cents of slippage on $1k+ trades.
Last 24 hours alone saw $41K in turnover, well above the lifetime daily-average for this market — a clear sign of news catalysing trader activity right now.
The market has been open for under a month — fresh enough that information asymmetry remains a real factor.
Higher-volume markets tend to have tighter spreads and faster price discovery — meaning the displayed YES/NO percentages are more likely to reflect the true crowd-implied probability rather than a single trader's directional view.
Key terms
- YES / NO share
- A binary outcome token that pays $1.00 if the underlying claim resolves true (YES) or false (NO), and $0 otherwise. The market price between 0¢ and 100¢ is the implied probability.
- CLOB
- Central limit order book. The matching engine that pairs YES buyers with NO buyers (effectively the same trade). Polymarket's CLOB on Polygon executes trades on-chain via the conditional-tokens framework.
- Liquidity
- USDC capital sitting in resting limit orders inside the order book. Deeper liquidity means smaller slippage on large trades and a tighter bid-ask spread.
- UMA optimistic oracle
- The on-chain dispute system that settles each Polymarket market. A proposer submits the outcome, a two-hour challenge window opens, and unchallenged proposals finalise the resolution.
- Slippage
- The difference between the displayed mid-price and your fill price. Affects market orders most; limit orders avoid slippage but may take time to fill.
- Conditional token
- ERC-1155 outcome share issued by Gnosis Conditional Tokens on Polygon. The token type that resolves to $1.00 or $0.00 at settlement.
Frequently asked questions
What is the current probability for "SPY (SPY) Up or Down on May 11?"?
As of today, traders on Polymarket price this outcome at 37%. The number updates continuously as the order book clears. PolyGram mirrors the same live odds with locale-aware formatting and USDC settlement.
How does this market resolve?
Resolution is sourced from https://pythdata.app/explore/Equity.US.SPY%2FUSD. Settlement is executed by the UMA optimistic oracle on Polygon, with a 2-hour dispute window before payouts clear.
When does this market close?
This prediction market is scheduled to close on 11 May 2026. After the resolving event occurs, settlement typically clears within 24 hours once the UMA optimistic oracle confirms the outcome. All payouts are in USDC on the Polygon network.
How can I trade on "SPY (SPY) Up or Down on May 11?"?
To trade on this prediction market, create a free PolyGram account at polygram.ink, deposit USDC via Polygon, and place a YES or NO order on the outcome you believe in. You can learn more on our how-it-works page. Your maximum loss is limited to your stake — there is no leverage or margin.
What happens when the market resolves?
When the outcome is determined, winning YES shares pay out $1.00 each in USDC, while losing shares pay $0. Settlement is handled by the UMA optimistic oracle on Polygon — a proposer submits the result, a two-hour dispute window opens, and if uncontested, payouts are distributed automatically. You can withdraw your winnings to any Polygon wallet.
Risk and regulatory note
Prediction-market positions can lose 100% of staked capital. Outcomes are uncertain by definition — historical accuracy of crowd-implied probabilities is high in aggregate but not for any single market. PolyGram does not provide investment advice. Trade only with capital you can afford to lose.
Regulatory status varies by jurisdiction. Germany, the United States, and most EU countries treat Polymarket-style event contracts under one of three frameworks: financial derivative, gambling product, or unregulated novel asset. Consult local counsel before trading.
Related prediction markets
Explore more prediction market odds and trading opportunities on PolyGram: