XLE Options History — February 2009

In February 2009, XLE traded between $20.20 and $24.82. ATM implied volatility averaged 48.6%, placing in the 27.5% IV rank vs the trailing year. The 30-day expected move averaged 14.2%. IV traded above realized volatility by 1.6% (HV 20d: 47.1%). Max pain ranged from $23.00 to $26.00. Net GEX was positive for 0 of 19 trading days. Term structure was in contango for 8 of 19 days. Put/call ratio averaged 1.48.

Notable Days

  • 2009-02-20: Highest Volume — 368,312 contracts
  • 2009-02-17: Largest IV spike — 16.2% change
  • 2009-02-23: Highest IV Rank — 36.3%
  • 2009-02-23: Largest Expected Move — 17.3%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$22.56$20.20$24.82$23.09$20.57
Max Pain$24.39$23.00$26.00$23.00$26.00
ATM IV48.6%40.7%59.1%49.1%50.1%
Expected Move14.2%11.7%17.3%14.1%14.4%
HV 20d47.1%41.4%51.9%51.5%43.1%
HV 60d63.4%48.7%73.0%73.0%48.7%
IV Rank27.5%20.8%36.3%27.9%28.8%
IV Percentile67.6%59.1%76.2%69.0%67.5%
Term Structure0.0%-3.8%4.9%2.2%0.4%
VWIV49.7%42.5%57.8%50.2%48.3%
Skew 25d10.5%8.9%12.4%10.2%12.2%
Skew 10d20.0%17.2%22.7%20.7%22.5%
Call IV 25d44.2%38.2%52.9%44.1%44.7%
Put IV 25d54.7%47.1%64.5%54.2%56.9%
Bid-Ask Spread %8.135.2414.967.8614.96
Gamma HHI0.080.060.110.090.07
Net GEX-14.4M-33.2M-3.4M-11.0M-20.8M
Net DEX957.4M184.7M1.62B757.7M1.47B
Net VEX-8.2M-9.2M-6.7M-9.0M-6.7M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.480.552.502.372.07
Total Volume130,134.52660,202368,31260,202123,300
Total OI2,828,754.7372,664,0423,076,0982,682,1042,827,952

Daily Data (19 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2009-02-02$23.09$23.0049.1%14.1%51.5%27.9%50.2%10.2%2.2%-11.0M757.7M-9.0M2.377.8617,87242,3301,134,5821,547,522
2009-02-03$23.48$23.0044.9%12.9%51.1%24.3%45.6%8.9%2.8%-8.3M638.9M-8.9M1.846.4232,38859,5641,137,6321,526,410
2009-02-04$23.70$23.0043.6%12.5%51.1%23.3%43.6%9.2%3.7%-7.0M580.6M-9.0M2.278.2229,95267,8921,152,2821,549,578
2009-02-05$24.29$23.0041.0%11.7%49.9%21.1%42.5%8.9%4.9%-6.8M411.9M-9.2M0.819.9444,85036,2861,158,4681,583,352
2009-02-06$24.73$24.5040.7%13.1%50.1%20.8%47.5%9.9%-0.5%-3.7M217.5M-9.2M1.196.5031,75837,8121,159,0701,588,972
2009-02-09$24.82$24.5041.6%13.2%48.6%21.6%45.7%10.0%-0.6%-3.4M184.7M-9.0M1.398.2531,77844,1081,163,9301,589,870
2009-02-10$23.67$25.0047.6%14.4%49.5%26.7%49.5%10.3%-1.4%-8.9M601.8M-8.8M1.117.2663,04470,1541,177,0881,605,882
2009-02-11$23.40$25.0044.4%14.0%48.8%23.9%48.8%9.5%-0.5%-9.2M710.4M-8.7M1.005.2460,69860,8461,202,9461,618,630
2009-02-12$23.44$25.0049.1%14.1%45.4%27.9%48.5%10.2%-1.8%-8.1M674.8M-8.8M0.9210.22117,348107,7501,218,2921,627,360
2009-02-13$23.50$24.5046.1%13.2%45.2%25.4%46.4%9.6%0.5%-5.3M705.2M-8.8M1.457.0130,64444,3221,270,0541,663,024
2009-02-17$21.87$24.5053.5%15.4%51.9%31.7%52.6%10.8%-1.9%-21.7M1.35B-7.8M0.555.40151,76682,9181,275,7381,681,632
2009-02-18$21.75$24.5053.7%15.4%48.2%31.8%51.8%10.9%-1.3%-24.4M1.45B-7.7M0.856.8946,16639,0921,343,2961,704,052
2009-02-19$21.75$24.5054.4%15.6%41.5%32.4%52.6%12.4%-3.8%-24.7M1.37B-7.7M0.9010.1747,31442,5961,344,9121,709,550
2009-02-20$21.19$24.5053.6%15.4%41.4%31.7%51.4%11.5%0.9%-33.2M1.62B-7.2M1.828.86130,702237,6101,360,9581,715,140
2009-02-23$20.20$23.5059.1%17.3%42.3%36.3%57.8%11.6%-2.3%-18.8M1.49B-6.9M2.507.2357,828144,6661,186,1381,565,034
2009-02-24$21.15$23.5052.4%14.9%45.6%30.7%52.3%11.2%0.2%-18.8M1.32B-7.3M1.736.1438,21266,2441,194,8761,567,888
2009-02-25$21.02$26.0050.5%14.5%45.5%29.1%55.2%11.8%-1.2%-19.1M1.33B-7.2M0.988.0764,00262,7121,206,6481,570,348
2009-02-26$21.07$26.0048.9%14.1%43.9%27.8%53.9%10.6%-0.3%-19.5M1.31B-7.2M2.349.9031,71674,3161,226,8101,590,424
2009-02-27$20.57$26.0050.1%14.4%43.1%28.8%48.3%12.2%0.4%-20.8M1.47B-6.7M2.0714.9640,14083,1601,235,3481,592,604