XLF Options History — April 2015

In April 2015, XLF traded between $19.56 and $19.89. ATM implied volatility averaged 13.5%, placing in the 39.2% IV rank vs the trailing year. The 30-day expected move averaged 3.9%. IV traded above realized volatility by 2.0% (HV 20d: 11.6%). Max pain ranged from $19.50 to $19.50. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 9 of 21 days. Put/call ratio averaged 1.12.

Notable Days

  • 2015-04-17: Highest Volume — 500,100 contracts
  • 2015-04-30: Largest IV spike — 22.9% change
  • 2015-04-01: Highest IV Rank — 50.9%
  • 2015-04-01: Largest Expected Move — 4.7%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$19.70$19.56$19.89$19.56$19.60
Max Pain$19.50$19.50$19.50$19.50$19.50
ATM IV13.5%11.4%15.5%15.5%14.0%
Expected Move3.9%3.3%4.7%4.7%4.2%
HV 20d11.6%8.0%16.3%16.2%8.5%
HV 60d14.2%12.2%16.4%16.4%12.2%
IV Rank39.2%26.2%50.9%50.9%42.0%
IV Percentile48.6%11.5%75.4%75.4%59.5%
Term Structure-0.3%-1.6%0.6%-0.3%-0.0%
VWIV13.6%11.1%17.8%16.0%13.9%
Skew 25d3.0%1.7%4.3%3.4%2.7%
Skew 10d7.1%3.5%11.8%6.3%6.9%
Call IV 25d12.4%11.1%14.2%14.2%13.2%
Put IV 25d15.4%13.1%17.6%17.6%15.9%
Bid-Ask Spread %3.312.0215.1115.113.04
Gamma HHI0.240.190.290.190.22
Net GEX52.5M26.1M116.9M35.8M43.2M
Net DEX-330.6M-635.4M-165.3M-191.6M-224.3M
Net VEX-9.4M-10.3M-8.3M-9.5M-9.6M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.120.253.001.171.11
Total Volume148,793.71456,961500,100101,182109,613
Total OI3,177,393.6192,892,1583,508,5892,892,1583,508,589

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2015-04-01$19.56$19.5015.5%4.7%16.2%50.9%16.0%3.4%-0.3%35.8M-191.6M-9.5M1.1715.1146,57154,6111,428,8611,463,297
2015-04-02$19.69$19.5014.6%4.3%16.3%45.4%15.1%2.8%0.1%44.4M-303.1M-9.5M0.932.5242,98539,7821,433,7481,484,676
2015-04-06$19.68$19.5015.0%4.3%16.0%48.1%14.8%2.9%0.2%58.5M-310.6M-9.2M0.522.4238,29419,7591,451,9451,481,398
2015-04-07$19.62$19.5014.9%4.2%15.9%47.3%13.6%4.3%-0.3%44.9M-215.5M-9.1M0.253.00136,61534,4291,452,0811,486,079
2015-04-08$19.68$19.5014.5%4.2%13.8%45.0%17.8%3.3%0.4%46.7M-271.9M-9.1M1.644.8221,58335,3781,451,7151,495,254
2015-04-09$19.70$19.5014.0%4.0%13.6%41.8%14.1%2.9%0.3%36.7M-295.7M-8.3M0.833.0536,26929,9611,407,4101,501,117
2015-04-10$19.69$19.5014.1%3.9%11.1%42.8%13.8%3.8%-0.8%33.4M-308.6M-8.9M1.022.8562,92564,3551,425,0841,513,554
2015-04-13$19.76$19.5014.5%4.3%10.9%45.1%13.9%2.8%-0.9%45.7M-351.2M-9.1M0.302.83177,33453,8301,433,0031,520,997
2015-04-14$19.74$19.5014.2%4.1%10.3%43.2%13.3%3.4%-1.6%63.6M-396.0M-9.2M0.642.5865,67441,7851,562,0341,520,603
2015-04-15$19.84$19.5013.7%3.9%10.5%40.0%12.5%3.1%-1.6%87.9M-557.3M-9.0M2.302.8946,329106,5171,579,4861,525,250
2015-04-16$19.89$19.5013.1%3.8%10.4%36.4%12.6%2.7%-0.8%116.9M-635.4M-8.8M1.352.31191,008257,0651,574,9561,537,395
2015-04-17$19.59$19.5014.1%4.0%11.4%42.4%13.6%3.0%0.6%42.9M-308.1M-9.6M3.002.02124,874375,2261,707,3101,727,259
2015-04-20$19.69$19.5013.4%3.6%11.1%38.4%12.2%3.4%-0.6%42.7M-252.9M-10.3M2.102.6834,56272,5871,617,1651,718,510
2015-04-21$19.60$19.5012.8%3.7%11.1%34.7%13.5%2.3%0.1%26.1M-165.3M-9.7M1.242.7236,53445,2131,627,9331,682,217
2015-04-22$19.72$19.5012.8%3.3%11.1%34.8%12.4%3.0%-0.1%51.2M-360.9M-9.7M0.922.2846,62542,8671,642,6621,688,914
2015-04-23$19.76$19.5011.5%3.3%9.4%27.2%11.1%2.9%-0.2%58.4M-386.5M-9.6M1.032.5781,42884,2621,666,9291,697,660
2015-04-24$19.70$19.5011.4%3.6%9.5%26.2%12.4%1.7%-1.2%54.3M-343.6M-9.8M0.792.5840,03031,6121,719,6641,748,295
2015-04-27$19.63$19.5012.7%3.6%9.5%34.1%12.8%2.9%0.5%42.7M-245.9M-9.3M0.472.5379,47237,2411,693,9611,698,962
2015-04-28$19.74$19.5012.0%3.6%8.3%30.2%12.6%2.3%0.2%62.8M-400.5M-9.4M1.212.2756,54768,6261,699,4741,712,131
2015-04-29$19.76$19.5011.4%3.6%8.0%26.4%12.7%3.9%0.3%64.2M-417.0M-9.7M0.682.4591,68662,6041,693,4451,744,243
2015-04-30$19.60$19.5014.0%4.2%8.5%42.0%13.9%2.7%-0.0%43.2M-224.3M-9.6M1.113.0451,93157,6821,759,3601,749,229