XLF Options History — April 2026 In April 2026, XLF traded between $49.47 and $52.57. ATM implied volatility averaged 19.8%, placing in the 25.2% IV rank vs the trailing year. The 30-day expected move averaged 5.7%. IV traded above realized volatility by 1.5% (HV 20d: 18.3%). Max pain ranged from $50.00 to $52.00. Net GEX was positive for 7 of 14 trading days. Term structure was in contango for 5 of 14 days. Put/call ratio averaged 1.26.
Notable Days 2026-04-08 : Highest Volume — 382,263 contracts2026-04-08 : Largest IV drop — 16.2% change2026-04-21 : Highest IV Rank — 36.8%2026-04-07 : Largest Expected Move — 6.9%Monthly Statistics Metric Avg Min Max Open Close Price $51.22 $49.47 $52.57 $49.47 $52.25 Max Pain $50.64 $50.00 $52.00 $50.00 $50.00 ATM IV 19.8% 17.0% 24.0% 22.9% 19.0% Expected Move 5.7% 4.9% 6.9% 6.6% 5.5% HV 20d 18.3% 17.3% 19.3% 17.8% 18.0% HV 60d 18.4% 18.0% 18.8% 18.2% 18.1% IV Rank 25.2% 14.6% 36.8% 28.5% 36.8% IV Percentile 74.3% 55.2% 90.9% 88.5% 74.2% Term Structure -0.1% -0.6% 0.8% -0.1% -0.4% VWIV 21.0% 17.1% 27.5% 24.1% 18.6% Skew 25d 4.9% 3.3% 7.0% 5.8% 4.1% Skew 10d 10.8% 6.8% 14.6% 13.1% 9.8% Call IV 25d 17.8% 15.6% 20.9% 20.5% 17.3% Put IV 25d 22.8% 19.6% 27.9% 26.3% 21.4% Bid-Ask Spread % 15.97 11.81 20.48 12.31 19.61 Gamma HHI 0.09 0.07 0.13 0.09 0.07 Net GEX 14.7M -176.4M 246.0M -176.4M 80.0M Net DEX 531.5M -2.19B 3.20B 3.19B -505.6M Net VEX -48.5M -50.1M -46.8M -49.4M -49.0M Div Yield 0.0% 0.0% 0.0% 0.0% 0.0% P/C Ratio 1.26 0.14 3.32 0.77 1.36 Total Volume 221,181.714 118,991 382,263 224,175 159,176 Total OI 5,731,678.857 5,425,410 6,217,347 5,425,410 5,516,133
Daily Data (14 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 2026-04-01 $49.47 $50.00 22.9% 6.6% 17.8% 28.5% 24.1% 5.8% -0.1% -176.4M 3.19B -49.4M 0.77 12.31 126,362 97,813 1,983,083 3,442,327 2026-04-02 $49.47 $52.00 23.2% 6.7% 17.7% 29.5% 27.5% 6.2% -0.4% -150.1M 3.20B -50.1M 1.72 15.61 51,124 88,082 2,036,748 3,484,581 2026-04-06 $49.89 $52.00 22.2% 6.4% 17.4% 26.6% 21.8% 6.1% -0.5% -160.8M 2.66B -49.2M 0.40 11.81 113,878 45,653 2,044,523 3,480,709 2026-04-07 $49.95 $51.00 24.0% 6.9% 17.3% 31.5% 26.8% 7.0% -0.6% -147.3M 2.64B -49.8M 3.32 13.18 52,228 173,217 2,115,081 3,483,887 2026-04-08 $51.14 $51.00 20.1% 5.8% 19.3% 20.8% 21.0% 5.6% 0.2% -25.8M 738.8M -49.1M 2.12 13.87 122,598 259,665 2,137,002 3,531,011 2026-04-09 $51.41 $51.00 19.4% 5.6% 18.8% 18.9% 23.1% 5.3% 0.8% -7.2M 421.7M -49.5M 1.54 15.55 71,268 109,724 2,178,920 3,636,364 2026-04-10 $50.78 $51.00 19.3% 5.5% 18.5% 18.6% 19.2% 5.2% -0.2% -45.6M 1.29B -48.6M 0.77 17.96 143,428 110,063 2,214,231 3,596,312 2026-04-13 $51.55 $51.00 18.4% 5.3% 19.0% 19.1% 19.8% 4.6% 0.6% 2.0M 227.0M -47.5M 0.45 16.29 200,638 89,770 2,202,541 3,582,755 2026-04-14 $51.84 $50.00 17.0% 4.9% 19.0% 14.6% 17.1% 4.8% 0.3% 102.8M -412.3M -46.9M 0.44 16.68 183,212 80,036 2,273,707 3,591,383 2026-04-15 $52.19 $50.00 18.4% 5.3% 18.9% 26.9% 19.7% 3.7% -0.3% 162.3M -1.43B -46.8M 0.56 20.48 145,070 81,374 2,367,799 3,615,232 2026-04-16 $52.06 $50.00 17.6% 5.0% 18.0% 26.9% 18.0% 4.0% 0.4% 210.6M -1.21B -47.3M 0.14 19.28 192,762 26,643 2,438,511 3,640,306 2026-04-17 $52.50 $50.00 17.4% 5.0% 18.1% 26.0% 18.4% 3.5% -0.3% 246.0M -2.19B -47.7M 0.77 17.71 143,283 110,486 2,564,494 3,652,853 2026-04-20 $52.57 $50.00 17.8% 5.1% 18.0% 28.2% 19.2% 3.3% -0.2% 115.0M -1.18B -47.8M 3.23 13.20 28,099 90,892 2,268,876 3,164,135 2026-04-21 $52.25 $50.00 19.0% 5.5% 18.0% 36.8% 18.6% 4.1% -0.4% 80.0M -505.6M -49.0M 1.36 19.61 67,344 91,832 2,288,286 3,227,847
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