State Street SPDR S&P Oil & Gas Equipment & Services ETF (XES) IV/HV History
Comparing implied volatility to historical (realized) volatility reveals whether options are priced rich or cheap relative to actual price movement. Persistent gaps can signal trading opportunities.
State Street SPDR S&P Oil & Gas Equipment & Services ETF (XES) operates in the Financial Services sector, specifically the Asset Management industry, with a market capitalization near $286.1M, listed on AMEX, carrying a beta of 0.96 to the broader market. The State Street SPDR S&P Oil & Gas Equipment & Services ETF seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of the S&P Oil & Gas Equipment & Services Select Industry Index (the "Index")Seeks to provide exposure to the oil and gas equipment and services segment of the S&P TMI, which comprises the Oil & Gas Drilling sub-industry and the Oil & Gas Equipment & Services sub-industrySeeks to track a modified equal weighted index which provides the potential for unconcentrated industry exposure across large, mid and small cap stocksAllows investors to take strategic or tactical positions at a more targeted level than traditional sector based investing public since 2006-06-22.
Snapshot as of May 15, 2026.
- Spot Price
- $129.49
- ATM IV
- 37.5%
- HV 20-Day
- 22.8%
- HV 60-Day
- 24.4%
- IV Rank
- 44.8%
- IV Percentile
- 57.5%
As of May 15, 2026, State Street SPDR S&P Oil & Gas Equipment & Services ETF (XES) ATM implied volatility is 37.5%. 20-day realized volatility is 22.8%, producing an IV-HV spread of +14.7 vol points. Options are pricing in more volatility than the stock has recently delivered, the volatility risk premium. IV rank is 44.8%.
How XES iv/hv history Data Feeds Strategy Selection
Strategy selection on State Street SPDR S&P Oil & Gas Equipment & Services ETF options does not derive from any single metric in isolation. The iv/hv history view above sits inside a broader read: ATM IV currently sits at 37.5% and dealer gamma exposure is positive, so dealer hedging is mechanically mean-reverting. Combine the iv/hv history data here with the volatility-skew surface, dealer-gamma exposure, max-pain level, and upcoming-events calendar to build a positioning thesis. Risk-defined structures (credit spreads, debit spreads, iron condors) are usually safer than naked positions while the regime is uncertain; the data on this page anchors the inputs but does not by itself constitute a trade thesis.
Learn how implied vs realized volatility is reported and how to read the data →
Frequently asked XES iv/hv history questions
- Is XES options pricing rich or cheap right now?
- As of May 15, 2026, State Street SPDR S&P Oil & Gas Equipment & Services ETF (XES) ATM IV is 37.5% against 20-day realized volatility of 22.8%. IV rank is 44.8%. XES options are pricing in more volatility than the stock has recently realized: a positive variance risk premium worth 14.7 vol points.
- What is the XES variance risk premium?
- The variance risk premium is the persistent gap between implied and subsequently realized volatility. In equity markets it averages positive because option sellers demand compensation for bearing variance shocks. XES is currently priced consistently with this premium, which is one input to whether short-vol or long-vol structures carry their typical edge.
- What does XES IV rank mean for strategy selection?
- IV rank normalizes the current ATM IV to its 1-year range: 0% is the low, 100% is the high. XES's current rank of 44.8% signals where current pricing sits in its own 1-year history. High-rank regimes typically favor premium-selling structures (credit spreads, condors, covered calls); low-rank regimes typically favor premium-buying or long-volatility structures.