XLF Options History — July 2021

In July 2021, XLF traded between $34.98 and $37.07. ATM implied volatility averaged 19.5%, placing in the 13.4% IV rank vs the trailing year. The 30-day expected move averaged 5.5%. IV traded below realized volatility by 3.3% (HV 20d: 22.8%). Max pain ranged from $36.00 to $37.00. Net GEX was positive for 7 of 21 trading days. Term structure was in contango for 14 of 21 days. Put/call ratio averaged 1.50.

Notable Days

  • 2021-07-19: Highest Volume — 903,965 contracts
  • 2021-07-19: Largest IV spike — 24.3% change
  • 2021-07-19: Highest IV Rank — 35.2%
  • 2021-07-19: Largest Expected Move — 6.9%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$36.41$34.98$37.07$36.98$36.52
Max Pain$36.71$36.00$37.00$36.50$37.00
ATM IV19.5%16.4%24.3%17.3%19.7%
Expected Move5.5%4.4%6.9%4.6%5.6%
HV 20d22.8%18.0%25.5%18.1%24.8%
HV 60d18.8%16.4%20.3%16.4%19.9%
IV Rank13.4%0.0%35.2%1.3%14.8%
IV Percentile19.7%0.0%47.2%1.2%25.4%
Term Structure0.0%-0.6%0.8%0.6%0.3%
VWIV20.6%15.4%27.7%16.5%20.3%
Skew 25d4.0%2.7%6.2%2.9%4.3%
Skew 10d8.4%5.3%13.3%5.6%11.1%
Call IV 25d18.1%15.4%21.9%16.3%18.2%
Put IV 25d22.1%18.1%28.2%19.3%22.5%
Bid-Ask Spread %3.931.6136.681.9736.68
Gamma HHI0.130.100.340.120.34
Net GEX-37.8M-335.5M141.9M90.8M-335.5M
Net DEX-436.3M-1.82B1.64B-1.47B-484.1M
Net VEX-22.4M-23.5M-20.4M-22.6M-21.8M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.500.364.310.634.27
Total Volume264,549.28644,242903,965261,100298,197
Total OI5,470,372.6195,148,2606,090,9645,318,8425,385,695

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2021-07-01$36.98$36.5017.3%4.6%18.1%1.3%16.5%2.9%0.6%90.8M-1.47B-22.6M0.631.97160,032101,0682,190,7993,128,043
2021-07-02$36.93$36.5016.4%4.4%18.0%0.0%15.4%2.7%0.2%141.9M-1.26B-23.0M0.831.6151,30942,6662,245,5053,210,758
2021-07-06$36.36$36.0018.0%5.4%18.6%6.7%21.3%3.4%0.0%-41.9M-322.0M-23.3M2.191.92205,359450,6782,073,3203,183,855
2021-07-07$36.43$36.0018.3%5.5%18.6%7.9%19.8%3.4%0.0%-6.8M-645.2M-22.6M1.471.8988,390129,6552,172,2183,294,274
2021-07-08$35.56$36.0021.1%5.8%20.0%20.2%21.4%4.4%-0.3%-140.6M876.0M-23.5M1.081.81141,494152,1632,181,1163,386,560
2021-07-09$36.68$36.0019.4%5.5%23.1%12.9%21.4%3.3%0.1%57.1M-1.14B-23.2M0.861.99125,725108,7562,249,1043,423,917
2021-07-12$37.07$36.0018.9%5.5%23.5%10.4%19.2%3.4%0.3%113.6M-1.82B-22.6M0.361.73213,58976,2022,217,8033,454,278
2021-07-13$36.72$37.0019.4%5.4%23.4%12.7%21.2%3.5%-0.6%49.3M-1.10B-22.0M0.801.80143,974115,4932,242,9923,513,717
2021-07-14$36.42$37.0019.0%5.7%23.4%11.4%19.6%3.5%0.8%-7.5M-383.5M-22.6M0.871.94199,995174,7522,263,4523,549,697
2021-07-15$36.59$37.0018.7%5.3%23.5%10.1%19.4%3.1%-0.4%60.7M-634.4M-22.3M0.961.9095,85992,1442,396,5773,661,534
2021-07-16$36.07$37.0019.6%5.6%21.5%14.0%19.2%3.8%-0.2%-149.1M560.7M-22.8M1.962.2957,994113,8582,394,1983,696,766
2021-07-19$34.98$37.0024.3%6.9%22.7%35.2%27.7%6.2%-0.5%-167.3M1.64B-23.1M1.822.52320,499583,4662,022,9233,384,747
2021-07-20$36.02$37.0020.7%5.9%24.6%19.2%22.2%5.0%-0.3%-72.2M46.3M-22.2M1.752.7248,95685,6891,950,2163,241,313
2021-07-21$36.62$37.0019.9%5.7%25.3%15.6%20.0%4.2%-0.1%2.8M-684.5M-22.0M0.782.6195,46174,6631,950,8323,285,846
2021-07-22$36.25$37.0020.2%5.8%25.5%16.9%21.6%4.1%0.0%-70.6M-122.7M-22.8M1.142.45112,951128,9301,993,3893,318,090
2021-07-23$36.25$37.0019.8%5.6%25.2%14.9%20.1%4.5%0.1%-87.1M-79.8M-22.7M1.042.5362,89365,4081,975,1773,364,185
2021-07-26$36.43$37.0019.5%5.6%24.9%14.0%20.2%4.5%0.1%-66.5M-439.8M-21.0M0.992.3822,27421,9681,871,8573,276,403
2021-07-27$36.41$37.0020.6%5.9%24.6%18.5%24.2%5.1%0.2%-76.6M-305.7M-22.2M2.085.8425,86753,9271,895,4193,315,634
2021-07-28$36.50$37.0020.1%5.7%24.7%16.3%21.2%4.7%0.0%-83.4M-370.5M-22.2M1.311.8794,113123,2121,903,4623,335,817
2021-07-29$36.84$37.0018.5%5.2%24.9%9.4%19.5%4.3%0.2%-5.1M-1.02B-20.4M4.312.0655,758240,1481,913,7533,362,584
2021-07-30$36.52$37.0019.7%5.6%24.8%14.8%20.3%4.3%0.3%-335.5M-484.1M-21.8M4.2736.6856,582241,6151,975,5943,410,101