XLE Options History — February 2023

In February 2023, XLE traded between $41.59 and $45.13. ATM implied volatility averaged 28.6%, placing in the 12.6% IV rank vs the trailing year. The 30-day expected move averaged 8.1%. IV traded above realized volatility by 1.1% (HV 20d: 27.5%). Max pain ranged from $42.50 to $44.75. Net GEX was positive for 4 of 19 trading days. Term structure was in contango for 11 of 19 days. Put/call ratio averaged 1.19.

Notable Days

  • 2023-02-24: Highest Volume — 581,658 contracts
  • 2023-02-23: Largest IV drop — 8.2% change
  • 2023-02-22: Highest IV Rank — 25.7%
  • 2023-02-22: Largest Expected Move — 8.7%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$43.32$41.59$45.13$44.41$41.94
Max Pain$43.05$42.50$44.75$44.75$42.50
ATM IV28.6%27.0%31.6%27.2%28.0%
Expected Move8.1%7.7%8.7%7.8%7.8%
HV 20d27.5%22.0%32.1%22.0%28.9%
HV 60d28.7%27.6%30.1%29.5%27.9%
IV Rank12.6%5.9%25.7%6.6%10.0%
IV Percentile6.8%1.6%19.0%2.0%6.3%
Term Structure0.3%-1.1%1.3%-0.1%-0.3%
VWIV28.8%27.0%30.6%27.5%27.2%
Skew 25d5.0%4.2%6.1%4.9%5.2%
Skew 10d9.4%8.3%11.0%9.2%8.9%
Call IV 25d26.1%24.8%28.2%24.9%25.4%
Put IV 25d31.1%29.3%34.3%29.8%30.6%
Bid-Ask Spread %2.791.884.404.403.37
Gamma HHI0.080.060.120.060.11
Net GEX-41.0M-125.3M70.6M-17.1M-84.4M
Net DEX326.6M-1.26B1.54B-159.9M1.13B
Net VEX-21.6M-22.2M-21.1M-21.5M-21.8M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.190.483.170.970.80
Total Volume239,677.15890,936581,658328,946147,142
Total OI4,480,460.6324,220,1204,809,6564,240,2784,576,410

Daily Data (19 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2023-02-01$44.41$44.7527.2%7.8%22.0%6.6%27.5%4.9%-0.1%-17.1M-159.9M-21.5M0.974.40166,914162,0321,506,8642,733,414
2023-02-02$42.97$42.5028.9%8.5%25.3%14.0%29.6%5.3%0.2%-108.9M1.03B-21.5M1.632.38107,120174,9881,547,8582,803,728
2023-02-03$43.02$42.5028.5%8.5%23.7%12.1%29.2%4.7%0.1%-89.5M936.0M-21.6M0.652.47174,716112,7161,542,5902,821,086
2023-02-06$42.81$42.5028.6%8.2%22.7%12.8%28.8%4.9%-0.2%-88.0M912.3M-21.4M0.632.81123,25477,3141,554,2442,787,406
2023-02-07$44.13$42.5027.4%8.0%25.2%7.7%27.6%4.4%0.5%-13.5M-227.5M-21.7M0.482.16143,08268,9281,621,6942,800,396
2023-02-08$43.89$42.5027.8%8.1%25.2%9.3%29.2%4.4%0.3%-18.4M-92.0M-21.9M1.192.3654,93465,5201,665,2162,816,480
2023-02-09$43.48$42.5028.9%8.4%25.4%13.8%28.6%5.1%0.5%-52.7M332.6M-21.8M1.222.4677,26494,4441,668,2582,850,740
2023-02-10$45.13$42.5027.9%8.2%27.9%9.6%29.2%4.2%1.0%70.6M-1.26B-22.2M0.791.88172,398135,6641,727,4802,854,076
2023-02-13$45.00$43.5029.1%8.4%27.9%14.8%29.6%5.1%0.8%55.3M-1.14B-22.2M0.762.00129,78498,3201,749,0762,843,386
2023-02-14$45.08$44.0027.3%7.8%27.9%7.1%27.9%4.4%0.9%63.8M-1.18B-21.6M1.082.5188,74896,2421,759,3562,885,738
2023-02-15$44.20$44.0027.0%7.7%28.3%5.9%29.5%4.6%1.1%3.1M-341.8M-21.6M2.003.0664,104127,9601,786,9202,907,104
2023-02-16$43.88$43.5027.2%7.7%28.0%6.6%27.0%4.3%1.3%-23.3M-43.5M-21.8M1.122.6242,93248,0041,807,9602,978,072
2023-02-17$42.23$44.0029.2%8.3%30.8%15.2%29.7%5.3%1.1%-125.3M1.54B-21.3M1.232.86196,548242,3841,823,1562,986,500
2023-02-21$42.19$43.5031.1%8.6%30.7%23.2%30.4%5.9%-0.1%-74.7M996.7M-21.3M1.223.0389,754109,9261,566,9622,653,158
2023-02-22$41.59$43.0031.6%8.7%31.0%25.7%30.6%6.1%-1.1%-92.7M1.39B-21.1M1.073.11123,438131,4801,606,2722,684,014
2023-02-23$42.45$42.7529.0%8.0%32.1%14.5%27.8%5.1%-0.7%-56.9M723.6M-21.3M1.162.8865,65476,0641,619,0822,716,012
2023-02-24$42.17$42.5029.4%8.0%29.6%16.0%30.0%5.5%-0.1%-69.3M963.7M-21.1M3.174.21139,570442,0881,637,7302,740,354
2023-02-27$42.47$42.5029.0%8.0%29.7%14.4%27.4%5.3%-0.3%-57.5M697.8M-22.1M1.502.4672,890109,5461,647,5702,852,390
2023-02-28$41.94$42.5028.0%7.8%28.9%10.0%27.2%5.2%-0.3%-84.4M1.13B-21.8M0.803.3781,71465,4281,686,4382,889,972