XLF Options History — July 2009

In July 2009, XLF traded between $9.02 and $10.57. ATM implied volatility averaged 39.6%, placing in the 4.7% IV rank vs the trailing year. The 30-day expected move averaged 11.2%. IV traded above realized volatility by 3.5% (HV 20d: 36.1%). Max pain ranged from $9.75 to $9.75. Net GEX was positive for 21 of 22 trading days. Term structure was in contango for 16 of 22 days. Put/call ratio averaged 1.05.

Notable Days

  • 2009-07-10: Highest Volume — 753,263 contracts
  • 2009-07-13: Largest IV spike — 28.8% change
  • 2009-07-13: Highest IV Rank — 17.4%
  • 2009-07-08: Largest Expected Move — 14.0%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$9.78$9.02$10.57$9.65$10.57
Max Pain$9.75$9.75$9.75$9.75$9.75
ATM IV39.6%29.9%56.2%35.7%30.8%
Expected Move11.2%8.6%14.0%10.2%8.8%
HV 20d36.1%31.7%43.0%34.5%31.7%
HV 60d53.9%42.2%66.7%66.5%42.2%
IV Rank4.7%0.0%17.4%0.0%0.7%
IV Percentile7.5%0.0%29.8%0.0%0.4%
Term Structure1.5%-1.5%4.4%4.4%4.0%
VWIV39.5%31.1%49.3%37.0%31.1%
Skew 25d5.6%3.2%7.4%3.8%4.4%
Skew 10d11.3%3.6%14.9%9.5%12.7%
Call IV 25d37.3%29.9%46.4%36.5%30.9%
Put IV 25d42.9%35.3%52.8%40.3%35.3%
Bid-Ask Spread %5.804.287.595.067.54
Gamma HHI0.230.170.440.190.20
Net GEX15.3M-205.7K52.4M5.6M24.2M
Net DEX-482.1M-1.09B178.4M-354.0M-1.09B
Net VEX-9.8M-10.6M-9.4M-9.6M-9.7M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.050.263.710.430.73
Total Volume339,626.136159,536753,263310,062324,801
Total OI6,920,843.0916,240,9287,826,2906,240,9287,055,473

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2009-07-01$9.65$9.7535.7%10.2%34.5%0.0%37.0%3.8%4.4%5.6M-354.0M-9.6M0.435.06216,73093,3323,272,5782,968,350
2009-07-02$9.32$9.7541.0%11.7%33.9%4.5%39.4%3.2%2.5%1.5M-132.7M-9.6M1.434.2871,999102,9143,445,3702,983,128
2009-07-06$9.33$9.7543.8%12.7%33.9%6.9%43.9%5.5%1.2%1.4M-145.0M-9.6M1.535.0293,444143,2273,479,8523,034,384
2009-07-07$9.18$9.7548.2%13.4%33.9%10.6%46.0%5.4%-0.4%1.4M-52.7M-9.6M0.366.95183,29566,3213,534,5573,062,868
2009-07-08$9.03$9.7550.3%14.0%33.8%12.4%49.3%6.4%1.4%778.3K83.9M-9.7M1.415.37213,468300,1613,644,1813,082,252
2009-07-09$9.14$9.7548.1%13.9%34.3%10.5%47.9%6.6%-0.4%1.4M44.3M-9.7M0.866.24224,646193,5543,660,0153,245,208
2009-07-10$9.02$9.7543.6%13.9%34.1%6.7%47.9%5.2%0.3%-205.7K178.4M-9.5M1.725.98276,632476,6313,795,5203,264,835
2009-07-13$9.59$9.7556.2%13.5%41.5%17.4%48.6%6.7%-1.5%19.0M-415.5M-10.6M0.306.14443,549134,6793,916,8123,591,721
2009-07-14$9.55$9.7546.6%12.7%40.6%9.2%45.8%6.7%-0.7%30.1M-408.8M-10.4M1.114.8390,144100,4824,049,2673,632,908
2009-07-15$9.96$9.7548.1%12.6%43.0%10.5%44.4%7.1%-1.2%46.2M-926.9M-10.5M0.586.98303,187175,3763,998,6143,689,535
2009-07-16$9.93$9.7541.8%12.0%41.4%5.2%43.3%6.8%-0.3%52.4M-890.2M-10.3M1.236.76208,536257,0224,063,5913,762,699
2009-07-17$9.86$9.7537.9%10.9%40.8%1.9%37.4%6.7%1.1%50.2M-960.8M-9.8M0.534.68249,780131,3213,989,2173,819,405
2009-07-20$9.94$9.7534.4%9.8%40.6%0.0%33.7%7.4%3.7%4.6M-441.6M-9.4M1.025.72160,195164,0733,127,8743,220,478
2009-07-21$9.85$9.7535.4%10.2%34.0%0.9%35.6%7.1%0.9%2.6M-347.2M-9.6M1.285.2486,680111,3723,170,7613,329,653
2009-07-22$9.86$9.7532.4%9.3%33.9%0.0%32.4%4.7%2.1%4.0M-365.9M-9.5M0.647.59137,86687,7213,214,8593,299,304
2009-07-23$10.15$9.7535.7%10.2%35.0%2.7%34.9%4.9%2.9%9.4M-633.3M-9.5M0.496.40329,498160,3733,232,1963,308,429
2009-07-24$10.09$9.7535.6%10.2%34.5%2.7%34.7%5.3%1.6%12.1M-626.8M-10.2M3.716.5851,716191,9133,455,5683,410,909
2009-07-27$10.25$9.7533.6%9.6%34.8%1.0%35.7%3.6%1.7%16.4M-779.8M-9.5M0.554.68163,73489,4383,404,2523,305,241
2009-07-28$10.23$9.7531.8%9.1%34.7%0.0%32.7%4.0%2.3%14.8M-695.2M-10.0M0.354.54117,88841,6483,501,2823,466,826
2009-07-29$10.23$9.7531.2%8.9%34.4%0.0%33.9%6.0%3.3%17.0M-710.6M-9.7M2.564.9967,035171,3553,477,8703,361,796
2009-07-30$10.46$9.7529.9%8.6%34.9%0.0%33.3%5.3%3.9%20.7M-939.3M-9.5M0.266.11209,56554,4743,444,6513,484,259
2009-07-31$10.57$9.7530.8%8.8%31.7%0.7%31.1%4.4%4.0%24.2M-1.09B-9.7M0.737.54187,460137,3413,575,6723,479,801