XLE Options History — June 2025

In June 2025, XLE traded between $41.03 and $44.45. ATM implied volatility averaged 23.3%, placing in the 17.8% IV rank vs the trailing year. The 30-day expected move averaged 6.6%. IV traded above realized volatility by 3.7% (HV 20d: 19.6%). Max pain ranged from $41.00 to $43.50. Net GEX was positive for 4 of 20 trading days. Term structure was in contango for 12 of 20 days. Put/call ratio averaged 1.44.

Notable Days

2025-06-17: Highest Volume — 398,534 contracts
2025-06-17: Largest IV spike — 14.9% change
2025-06-18: Highest IV Rank — 28.1%
2025-06-18: Largest Expected Move — 7.8%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$42.69	$41.03	$44.45	$41.25	$42.41
Max Pain	$42.01	$41.00	$43.50	$43.50	$42.75
ATM IV	23.3%	21.1%	27.3%	23.4%	21.1%
Expected Move	6.6%	5.9%	7.8%	6.5%	5.9%
HV 20d	19.6%	16.3%	21.6%	19.7%	21.1%
HV 60d	43.3%	43.0%	43.6%	43.4%	43.5%
IV Rank	17.8%	12.3%	28.1%	18.0%	12.3%
IV Percentile	69.6%	51.2%	89.3%	74.6%	51.2%
Term Structure	-0.2%	-4.9%	1.0%	-1.3%	0.4%
VWIV	24.1%	21.5%	28.1%	24.7%	21.5%
Skew 25d	2.2%	-0.4%	4.3%	4.3%	2.4%
Skew 10d	5.0%	-5.5%	17.4%	17.4%	13.1%
Call IV 25d	22.6%	20.0%	28.1%	21.0%	20.8%
Put IV 25d	24.8%	20.8%	28.4%	25.2%	23.2%
Bid-Ask Spread %	28.60	4.97	58.66	4.97	6.52
Gamma HHI	0.06	0.05	0.13	0.07	0.06
Net GEX	-74.9M	-190.1M	23.9M	-157.6M	-86.6M
Net DEX	1.02B	-985.2M	2.90B	2.75B	1.17B
Net VEX	-29.8M	-31.3M	-28.7M	-29.1M	-29.6M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	1.44	0.36	3.74	2.21	0.62
Total Volume	215,980.9	77,082	398,534	104,518	134,458
Total OI	4,714,899.7	3,917,930	5,574,044	4,712,298	4,088,684

Daily Data (20 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
2025-06-02	$41.25	$43.50	23.4%	6.5%	19.7%	18.0%	24.7%	4.3%	-1.3%	-157.6M	2.75B	-29.1M	2.21	4.97	32,570	71,948	1,692,696	3,019,602
2025-06-03	$41.91	$43.50	22.1%	6.3%	19.3%	14.8%	24.6%	4.3%	-0.3%	-122.5M	2.07B	-29.6M	1.71	5.29	67,650	115,568	1,712,934	3,022,776
2025-06-04	$41.06	$43.50	24.9%	6.6%	20.8%	22.0%	23.0%	4.0%	-4.9%	-171.7M	2.88B	-29.5M	3.74	5.84	45,694	170,808	1,746,040	3,022,082
2025-06-05	$41.03	$41.00	22.5%	6.5%	20.7%	15.8%	24.2%	3.3%	-1.1%	-190.1M	2.90B	-29.2M	2.47	56.83	61,754	152,252	1,757,366	3,073,020
2025-06-06	$41.74	$41.00	21.2%	6.2%	20.3%	12.6%	21.9%	3.0%	0.3%	-99.2M	1.97B	-29.3M	0.80	54.78	73,026	58,426	1,791,710	3,021,522
2025-06-09	$41.95	$41.00	21.6%	6.2%	20.4%	13.6%	22.9%	2.9%	0.1%	-90.3M	1.76B	-28.7M	2.58	48.82	21,506	55,576	1,785,934	2,957,674
2025-06-10	$42.53	$41.00	22.4%	6.5%	19.0%	15.5%	23.1%	2.5%	0.3%	-59.6M	1.19B	-28.9M	0.79	54.13	127,394	100,042	1,794,308	2,974,162
2025-06-11	$43.11	$41.00	23.7%	6.6%	18.1%	18.8%	23.9%	1.8%	-0.4%	-13.2M	520.0M	-29.5M	0.59	58.66	171,974	101,628	1,864,102	3,025,496
2025-06-12	$43.25	$41.00	23.1%	6.6%	17.5%	17.3%	23.1%	2.2%	-0.0%	-3.2M	351.2M	-30.0M	0.36	55.75	172,654	62,484	1,936,560	3,078,884
2025-06-13	$43.94	$41.00	26.1%	7.5%	18.3%	25.0%	26.6%	0.5%	0.1%	23.9M	-447.8M	-31.2M	0.41	55.20	265,694	109,006	1,946,342	3,119,752
2025-06-16	$43.77	$41.50	23.4%	6.7%	18.4%	18.0%	24.5%	1.6%	0.2%	7.7M	-155.1M	-30.2M	1.65	24.33	130,974	216,328	1,994,592	3,142,952
2025-06-17	$44.30	$41.50	26.9%	7.7%	17.8%	26.9%	28.1%	0.2%	0.3%	20.5M	-722.4M	-31.2M	1.33	27.11	170,942	227,592	2,014,738	3,290,640
2025-06-18	$44.13	$42.00	27.3%	7.8%	17.6%	28.1%	27.9%	0.9%	-0.5%	17.0M	-489.5M	-31.3M	1.55	33.49	77,032	119,758	2,086,284	3,394,756
2025-06-20	$44.45	$42.00	24.8%	7.1%	16.3%	21.5%	25.7%	1.4%	-0.8%	-64.7M	-985.2M	-29.9M	0.67	27.81	149,952	100,842	2,111,058	3,462,986
2025-06-23	$42.95	$42.50	24.1%	7.1%	21.1%	19.7%	25.3%	1.9%	1.0%	-55.9M	792.7M	-29.9M	1.48	15.54	120,462	178,796	1,470,294	2,447,636
2025-06-24	$42.50	$43.00	22.5%	6.5%	21.6%	15.7%	23.5%	2.4%	0.1%	-106.2M	1.32B	-29.7M	1.21	12.80	130,074	157,692	1,506,024	2,558,290
2025-06-25	$42.34	$42.50	21.4%	6.1%	21.5%	13.0%	23.2%	-0.4%	0.8%	-106.5M	1.37B	-29.4M	1.42	10.00	52,672	74,604	1,541,410	2,564,436
2025-06-26	$42.75	$42.50	21.2%	6.1%	21.1%	12.6%	21.5%	2.1%	0.4%	-86.6M	908.7M	-29.2M	1.22	7.33	42,832	52,438	1,557,138	2,571,372
2025-06-27	$42.50	$42.50	21.9%	6.2%	21.3%	14.2%	23.1%	2.2%	0.6%	-152.1M	1.19B	-29.7M	1.98	6.86	48,416	96,100	1,558,782	2,592,960
2025-06-30	$42.41	$42.75	21.1%	5.9%	21.1%	12.3%	21.5%	2.4%	0.4%	-86.6M	1.17B	-29.6M	0.62	6.52	83,198	51,260	1,515,014	2,573,670