XLI Options History — February 2007

In February 2007, XLI traded between $35.30 and $36.82. ATM implied volatility averaged 11.6%. The 30-day expected move averaged 3.4%. IV traded above realized volatility by 1.3% (HV 20d: 10.3%). Max pain ranged from $33.00 to $34.00. Net GEX was positive for 19 of 19 trading days. Term structure was in contango for 16 of 19 days. Put/call ratio averaged 4.83.

Notable Days

  • 2007-02-02: Highest Volume — 10,283 contracts
  • 2007-02-27: Largest IV spike — 38.9% change
  • 2007-02-27: Largest Expected Move — 5.1%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$36.27$35.30$36.82$36.05$35.42
Max Pain$33.63$33.00$34.00$34.00$34.00
ATM IV11.6%9.8%17.7%10.2%16.8%
Expected Move3.4%2.8%5.1%2.9%4.8%
HV 20d10.3%9.1%14.7%9.7%14.7%
Term Structure0.7%-2.2%2.6%0.6%-2.2%
VWIV11.0%7.0%17.2%10.2%16.5%
Skew 25d3.8%2.4%6.4%6.4%5.2%
Skew 10d6.7%1.8%11.0%11.0%7.8%
Call IV 25d9.7%6.4%14.4%6.4%13.1%
Put IV 25d13.5%10.8%18.6%12.8%18.4%
Bid-Ask Spread %20.2010.0981.3611.7829.68
Gamma HHI0.280.140.420.320.14
Net GEX588.8K82.6K1.1M490.7K82.6K
Net DEX-50.4M-64.0M-21.0M-47.5M-22.3M
Net VEX-434.3K-485.6K-329.7K-348.9K-483.3K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio4.830.0065.002.140.01
Total Volume1,198.6322810,283662,233
Total OI54,050.63244,63358,45044,63358,450

Daily Data (19 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2007-02-01$36.05$34.0010.2%2.9%9.7%0.0%10.2%6.4%0.6%490.7K-47.5M-348.9K2.1411.78214523,05421,579
2007-02-02$36.19$33.0011.4%3.3%9.6%0.0%7.0%4.8%1.5%470.6K-51.0M-329.7K0.6617.416,2034,08023,05621,603
2007-02-05$36.26$33.0010.2%3.2%9.4%0.0%10.8%3.5%2.6%276.5K-54.1M-446.6K0.0781.365534027,18425,693
2007-02-06$36.27$33.0010.9%3.5%9.4%0.0%9.5%4.1%0.3%498.9K-53.0M-457.2K0.0913.633292827,70526,233
2007-02-07$36.24$33.0011.0%3.5%9.4%0.0%0.0%4.5%0.0%575.7K-54.2M-450.8K0.0016.2728027,90925,758
2007-02-08$35.99$33.0011.5%3.3%9.8%0.0%11.0%2.4%1.3%598.5K-53.5M-440.5K4.5713.792310527,92225,758
2007-02-09$35.85$33.0011.8%3.4%9.6%0.0%9.9%3.1%1.0%759.2K-49.2M-451.6K0.5816.7729016827,91625,858
2007-02-12$35.91$33.0012.0%3.4%9.6%0.0%11.6%4.2%0.6%667.8K-50.0M-450.7K0.3217.891,65652228,18426,018
2007-02-13$36.20$34.0011.5%3.3%9.8%0.0%10.8%2.6%1.2%299.7K-53.5M-455.2K3.3314.04155029,19626,540
2007-02-14$36.73$34.0010.7%3.1%11.0%0.0%11.0%2.4%1.7%544.8K-63.5M-428.9K0.0712.926975029,20126,570
2007-02-15$36.81$34.0010.4%3.0%10.8%0.0%9.9%2.4%1.8%769.2K-64.0M-433.0K1.0114.95899029,67026,590
2007-02-16$36.66$34.009.9%2.8%11.0%0.0%8.1%4.0%2.0%787.1K-63.6M-424.9K1.3916.4911516029,67926,680
2007-02-20$36.72$34.009.8%2.8%9.9%0.0%9.8%3.7%1.1%911.9K-53.8M-428.6K0.7416.3434926027,24026,436
2007-02-21$36.82$34.0010.3%3.0%9.3%0.0%10.8%3.5%0.9%846.4K-55.9M-420.7K0.8911.74191727,49326,696
2007-02-22$36.70$34.0010.0%2.9%9.3%0.0%10.5%2.5%1.7%868.2K-52.1M-427.2K0.0010.09961227,46926,696
2007-02-23$36.60$34.0010.6%3.0%9.1%0.0%0.0%4.3%0.2%1.1M-51.8M-436.7K4.9714.225032,50028,26826,698
2007-02-26$36.39$34.0012.8%3.7%9.2%0.0%12.4%4.5%-0.5%466.6K-43.5M-451.5K65.0017.9016528,77129,198
2007-02-27$35.30$34.0017.7%5.1%14.7%0.0%17.2%4.2%-2.2%203.6K-21.0M-485.6K5.9536.457343428,77129,220
2007-02-28$35.42$34.0016.8%4.8%14.7%0.0%16.5%5.2%-2.2%82.6K-22.3M-483.3K0.0129.682,2023128,81129,639