XLE Options History — May 2024

In May 2024, XLE traded between $45.34 and $47.52. ATM implied volatility averaged 17.1%, placing in the 11.3% IV rank vs the trailing year. The 30-day expected move averaged 4.9%. IV traded above realized volatility by 1.8% (HV 20d: 15.4%). Max pain ranged from $44.00 to $46.00. Net GEX was positive for 14 of 22 trading days. Term structure was in contango for 14 of 22 days. Put/call ratio averaged 1.42.

Notable Days

2024-05-13: Highest Volume — 685,218 contracts
2024-05-28: Largest IV spike — 10.9% change
2024-05-29: Highest IV Rank — 30.0%
2024-05-01: Largest Expected Move — 5.6%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$46.46	$45.34	$47.52	$46.08	$46.34
Max Pain	$44.48	$44.00	$46.00	$46.00	$44.50
ATM IV	17.1%	15.7%	19.4%	18.6%	18.8%
Expected Move	4.9%	4.5%	5.6%	5.6%	5.3%
HV 20d	15.4%	14.3%	17.1%	15.3%	17.0%
HV 60d	14.2%	12.9%	15.3%	15.3%	15.1%
IV Rank	11.3%	0.8%	30.0%	19.6%	25.0%
IV Percentile	7.2%	0.8%	27.0%	8.7%	16.7%
Term Structure	0.3%	-1.2%	2.2%	2.1%	-0.7%
VWIV	17.3%	15.7%	19.9%	19.9%	18.5%
Skew 25d	1.1%	0.3%	2.5%	1.2%	2.0%
Skew 10d	2.0%	0.7%	4.1%	2.5%	2.9%
Call IV 25d	16.6%	15.3%	18.4%	18.4%	17.7%
Put IV 25d	17.7%	15.9%	20.2%	19.6%	19.6%
Bid-Ask Spread %	21.83	2.10	39.06	6.68	13.83
Gamma HHI	0.08	0.06	0.20	0.07	0.07
Net GEX	22.1M	-64.3M	208.6M	-43.5M	55.4M
Net DEX	-1.16B	-2.82B	317.2M	-539.4M	-978.4M
Net VEX	-21.3M	-23.5M	-19.8M	-23.4M	-20.6M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	1.42	0.48	12.38	1.12	0.71
Total Volume	163,443.727	73,832	685,218	257,590	158,136
Total OI	4,764,959	4,418,398	5,076,396	4,747,072	4,692,222

Daily Data (22 trading days)

Date	Price	Max Pain	ATM IV	Exp Move	HV 20d	IV Rank	VWIV	Skew 25d	Term Str	GEX	DEX	VEX	P/C	Spread %	Call Vol	Put Vol	Call OI	Put OI
2024-05-01	$46.08	$46.00	18.6%	5.6%	15.3%	19.6%	19.9%	1.2%	2.1%	-43.5M	-539.4M	-23.4M	1.12	6.68	121,248	136,342	1,847,972	2,899,100
2024-05-02	$46.28	$46.00	18.5%	5.4%	15.5%	19.3%	19.4%	0.7%	0.1%	-44.6M	-759.6M	-23.5M	0.95	19.65	56,942	54,036	1,868,172	2,957,028
2024-05-03	$46.16	$46.00	17.8%	5.1%	14.3%	14.4%	18.3%	1.2%	0.1%	-64.3M	-681.0M	-22.3M	0.85	27.12	92,054	78,048	1,890,480	2,971,880
2024-05-06	$46.70	$44.00	18.2%	5.2%	15.3%	17.0%	18.1%	0.7%	-0.0%	30.5M	-1.53B	-22.1M	0.93	23.92	81,306	75,290	1,852,900	2,919,038
2024-05-07	$46.67	$44.00	16.9%	4.9%	15.2%	9.8%	17.3%	0.5%	0.3%	37.1M	-1.57B	-21.3M	0.55	20.80	94,542	52,434	1,878,834	2,954,604
2024-05-08	$46.59	$44.00	16.4%	4.8%	14.9%	5.5%	16.9%	2.5%	2.2%	30.2M	-1.49B	-21.1M	1.08	20.07	52,032	56,070	1,890,402	2,968,788
2024-05-09	$47.14	$44.00	15.9%	4.6%	15.8%	2.2%	16.2%	0.3%	0.3%	91.6M	-2.23B	-20.5M	1.30	26.05	64,696	83,974	1,904,622	2,979,072
2024-05-10	$46.89	$44.00	15.7%	4.6%	15.0%	0.8%	16.0%	0.4%	0.4%	57.1M	-1.84B	-21.1M	1.21	17.61	55,156	66,988	1,921,726	3,022,890
2024-05-13	$46.78	$44.00	16.3%	4.7%	14.8%	5.1%	18.0%	0.5%	0.0%	48.8M	-1.69B	-20.3M	12.38	39.06	51,228	633,990	1,902,494	3,013,076
2024-05-14	$46.80	$44.00	16.3%	4.7%	14.5%	5.2%	16.5%	0.8%	0.5%	54.2M	-1.68B	-21.0M	0.67	34.37	52,540	35,104	1,922,762	3,062,134
2024-05-15	$46.81	$44.00	16.4%	4.7%	14.5%	5.9%	16.2%	0.8%	-0.1%	57.0M	-1.76B	-20.6M	0.73	23.43	95,396	69,278	1,931,384	3,072,676
2024-05-16	$46.83	$44.00	16.0%	4.5%	14.4%	3.1%	15.8%	0.5%	-0.4%	58.7M	-1.67B	-21.6M	0.54	26.25	83,050	44,446	1,956,304	3,086,282
2024-05-17	$47.52	$44.00	15.9%	4.5%	14.9%	2.4%	15.8%	0.7%	-0.1%	208.6M	-2.82B	-19.8M	0.96	25.35	92,608	89,338	1,980,060	3,096,336
2024-05-20	$47.16	$44.50	16.0%	4.6%	14.9%	2.9%	16.0%	0.7%	1.2%	63.0M	-1.71B	-20.9M	0.73	2.10	57,634	41,792	1,653,366	2,765,032
2024-05-21	$47.03	$44.50	15.8%	4.5%	14.8%	1.9%	15.7%	0.7%	1.1%	64.0M	-1.65B	-20.4M	0.75	2.60	63,064	47,072	1,683,052	2,779,198
2024-05-22	$46.00	$44.50	16.7%	4.8%	16.5%	8.2%	16.3%	1.0%	0.9%	-21.6M	-502.0M	-20.8M	0.77	27.03	62,876	48,494	1,699,278	2,789,820
2024-05-23	$45.63	$44.50	17.4%	5.0%	16.3%	13.1%	17.5%	1.2%	0.1%	-39.2M	-84.6M	-21.2M	1.07	34.75	58,672	62,712	1,707,006	2,800,996
2024-05-24	$45.65	$44.50	16.7%	4.7%	16.3%	8.3%	16.2%	1.1%	1.3%	-45.8M	-59.2M	-21.6M	1.26	20.43	64,832	81,412	1,736,226	2,831,742
2024-05-28	$46.25	$44.50	18.6%	5.1%	17.1%	21.5%	17.6%	1.4%	-1.0%	9.0M	-856.0M	-20.4M	0.48	26.28	79,466	38,486	1,726,654	2,886,958
2024-05-29	$45.34	$44.50	19.4%	5.4%	16.3%	30.0%	19.1%	2.1%	-0.7%	-55.9M	317.2M	-22.1M	0.93	14.70	98,206	90,940	1,763,514	2,903,738
2024-05-30	$45.36	$44.50	19.0%	5.3%	15.1%	26.8%	19.1%	2.5%	-1.2%	-63.4M	208.9M	-21.0M	1.31	28.10	31,952	41,880	1,772,820	2,886,460
2024-05-31	$46.34	$44.50	18.8%	5.3%	17.0%	25.0%	18.5%	2.0%	-0.7%	55.4M	-978.4M	-20.6M	0.71	13.83	92,254	65,882	1,786,104	2,906,118