XLE Options History — April 2009

In April 2009, XLE traded between $21.68 and $23.27. ATM implied volatility averaged 40.9%, placing in the 21.1% IV rank vs the trailing year. The 30-day expected move averaged 12.0%. IV traded below realized volatility by 3.0% (HV 20d: 44.0%). Max pain ranged from $22.00 to $23.00. Net GEX was positive for 9 of 21 trading days. Term structure was in contango for 16 of 21 days. Put/call ratio averaged 1.27.

Notable Days

  • 2009-04-28: Highest Volume — 140,328 contracts
  • 2009-04-27: Largest IV spike — 12.7% change
  • 2009-04-01: Highest IV Rank — 25.8%
  • 2009-04-07: Largest Expected Move — 13.4%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$22.50$21.68$23.27$21.68$22.89
Max Pain$22.86$22.00$23.00$22.00$22.50
ATM IV40.9%34.6%46.6%46.6%36.3%
Expected Move12.0%9.9%13.4%13.4%10.4%
HV 20d44.0%35.4%50.0%50.0%36.4%
HV 60d48.8%46.6%51.8%51.1%46.9%
IV Rank21.1%15.7%25.8%25.8%17.1%
IV Percentile41.5%22.6%57.5%57.5%28.2%
Term Structure0.6%-0.8%3.2%3.1%0.9%
VWIV42.3%35.8%47.9%47.9%35.8%
Skew 25d6.7%5.2%8.0%6.0%5.6%
Skew 10d13.0%11.0%14.8%12.3%12.7%
Call IV 25d38.7%31.6%43.8%43.8%34.0%
Put IV 25d45.4%39.3%51.2%49.7%39.6%
Bid-Ask Spread %15.377.4731.9316.9212.04
Gamma HHI0.080.060.150.060.08
Net GEX-349.0K-10.9M15.9M-3.9M-7.2M
Net DEX325.2M91.8M609.9M455.2M401.6M
Net VEX-7.8M-9.6M-7.0M-9.6M-7.8M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.270.512.411.531.74
Total Volume100,637.52467,220140,32897,16293,288
Total OI2,275,844.9522,030,4242,414,1402,321,2602,414,140

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2009-04-01$21.68$22.0046.6%13.4%50.0%25.8%47.9%6.0%3.1%-3.9M455.2M-9.6M1.5316.9238,41058,752994,5961,326,664
2009-04-02$22.57$22.0045.2%12.9%48.1%24.6%44.4%7.0%3.2%-74.5K217.9M-8.1M0.5129.5387,45644,974927,3141,202,350
2009-04-03$23.01$23.0040.7%13.1%48.2%20.8%46.8%7.8%-0.2%2.9M91.8M-8.2M0.6926.8857,34839,434952,1601,221,322
2009-04-06$22.55$23.0042.0%13.2%49.3%22.0%47.0%8.0%0.2%3.8M197.6M-8.0M1.6026.5950,00479,946984,4121,231,450
2009-04-07$21.87$23.0040.9%13.4%48.4%21.0%46.7%7.8%0.8%-3.4M441.8M-8.0M1.2731.9345,37057,4101,013,3521,281,918
2009-04-08$22.15$23.0040.6%13.0%48.4%20.7%45.9%6.5%-0.4%763.1K308.2M-8.1M1.2830.6529,47637,7441,037,8421,302,848
2009-04-09$22.80$23.0042.4%12.2%48.4%22.3%42.9%7.0%1.2%7.2M127.4M-8.2M1.5011.0233,97050,9401,037,4141,317,252
2009-04-13$22.55$23.0043.8%12.6%48.4%23.5%43.2%6.9%0.1%5.0M266.5M-7.9M1.1311.2638,68043,6581,047,2401,333,662
2009-04-14$22.49$23.0044.2%12.7%48.4%23.8%45.2%6.3%-0.5%5.9M268.0M-7.9M1.3513.2031,78842,8421,055,5681,356,162
2009-04-15$22.52$23.0044.1%12.7%47.0%23.7%45.2%6.4%0.2%7.9M270.3M-7.8M1.489.1735,48252,4801,050,6601,358,314
2009-04-16$22.63$23.0042.5%12.2%46.9%22.4%40.6%6.1%0.8%15.7M208.0M-7.5M0.999.2340,84840,3621,028,0741,337,942
2009-04-17$22.89$23.0038.9%11.2%46.3%19.3%39.6%5.6%1.4%15.9M145.9M-7.5M0.6610.0260,37839,9361,033,6121,352,262
2009-04-20$21.78$23.0043.0%12.3%47.0%22.8%43.1%5.2%-0.8%-10.9M609.9M-7.0M0.8711.5856,18248,628877,1501,153,274
2009-04-21$22.21$23.0040.7%11.7%37.6%20.9%40.2%6.3%0.5%-8.8M482.5M-7.1M1.5613.2846,39472,314900,8821,176,872
2009-04-22$21.98$23.0040.3%11.6%37.2%20.5%40.2%7.2%0.1%-10.8M582.0M-7.2M1.087.4751,52855,780921,0981,221,838
2009-04-23$22.39$23.0037.5%10.8%37.9%18.2%38.1%5.7%0.9%-9.4M497.3M-7.5M0.8811.8247,63641,756946,4261,254,984
2009-04-24$23.04$23.0036.1%10.4%39.2%17.0%37.5%7.2%1.3%-3.0M248.1M-7.7M1.108.3743,34847,692966,2441,268,416
2009-04-27$22.60$23.0040.7%11.7%38.3%20.9%42.1%6.9%-0.7%-6.4M400.1M-7.6M2.4112.7427,92467,250984,6021,272,266
2009-04-28$22.65$23.0038.7%11.1%35.4%19.1%39.1%7.1%0.0%-7.1M418.7M-7.7M1.577.7954,63085,698995,7121,302,716
2009-04-29$23.27$22.5034.6%9.9%36.2%15.7%36.1%7.7%0.2%-1.4M190.2M-7.8M1.4311.2255,76679,8861,016,9161,334,818
2009-04-30$22.89$22.5036.3%10.4%36.4%17.1%35.8%5.6%0.9%-7.2M401.6M-7.8M1.7412.0434,09859,1901,036,8381,377,302