XLI Options History — March 2009

In March 2009, XLI traded between $15.36 and $19.65. ATM implied volatility averaged 48.4%, placing in the 39.0% IV rank vs the trailing year. The 30-day expected move averaged 13.6%. IV traded below realized volatility by 1.3% (HV 20d: 49.7%). Max pain ranged from $15.00 to $23.00. Net GEX was positive for 18 of 22 trading days. Term structure was in contango for 8 of 22 days. Put/call ratio averaged 1.44.

Notable Days

  • 2009-03-25: Highest Volume — 515,759 contracts
  • 2009-03-10: Largest IV drop — 16.1% change
  • 2009-03-09: Highest IV Rank — 54.4%
  • 2009-03-05: Largest Expected Move — 16.0%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$17.41$15.36$19.65$15.98$18.43
Max Pain$17.14$15.00$23.00$23.00$17.00
ATM IV48.4%40.5%62.0%55.6%47.4%
Expected Move13.6%11.6%16.0%15.9%13.6%
HV 20d49.7%40.7%56.8%42.2%53.5%
HV 60d43.5%40.7%47.2%41.0%46.5%
IV Rank39.0%30.1%54.4%47.1%37.9%
IV Percentile74.7%61.5%92.5%86.1%74.2%
Term Structure-1.4%-5.7%1.2%-5.1%0.0%
VWIV45.9%36.3%56.7%56.7%46.4%
Skew 25d8.8%3.9%14.9%14.9%3.9%
Skew 10d17.7%8.4%27.3%18.9%9.5%
Call IV 25d43.2%37.6%50.7%47.1%44.7%
Put IV 25d52.0%45.7%62.0%62.0%48.6%
Bid-Ask Spread %13.959.2319.8311.8313.11
Gamma HHI0.570.210.750.220.43
Net GEX13.2M-1.9M34.1M-1.6M20.0M
Net DEX-155.9M-729.9M135.6M129.4M-211.0M
Net VEX-1.2M-1.8M-416.1K-428.7K-1.4M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.440.0014.174.930.69
Total Volume60,465.2274,811515,7598,64710,137
Total OI578,484.136269,557831,271269,557680,526

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2009-03-02$15.98$23.0055.6%15.9%42.2%47.1%56.7%14.9%-5.1%-1.6M129.4M-428.7K4.9311.831,4587,189138,455131,102
2009-03-03$15.86$23.0051.8%14.8%42.0%42.8%36.3%14.8%-3.3%-1.8M133.6M-416.1K14.179.233,32547,099139,311133,952
2009-03-04$16.30$23.0052.9%15.2%43.0%44.1%50.8%11.2%-4.8%-1.9M129.3M-449.9K0.4110.3116,6636,763142,324135,185
2009-03-05$15.67$21.0055.7%16.0%44.1%47.3%55.4%10.3%-3.8%-1.5M135.6M-419.7K0.0310.33290,2968,859149,339138,121
2009-03-06$15.50$16.0059.5%15.4%43.1%51.5%50.2%8.4%-3.0%5.5M52.9M-806.2K0.4015.0429,80011,805424,782141,278
2009-03-09$15.36$15.0062.0%15.8%40.7%54.4%52.0%7.6%-5.7%5.3M53.8M-895.3K1.2917.645,2266,760453,372148,338
2009-03-10$16.52$15.0052.0%14.1%50.2%43.1%49.2%9.7%-4.0%8.9M-31.7M-1.1M0.0219.83110,8141,776448,054154,116
2009-03-11$16.68$15.0051.6%13.9%48.5%42.6%45.7%10.3%-2.6%12.4M-83.8M-1.3M0.5313.645,6793,027508,640154,143
2009-03-12$17.22$16.0046.6%13.3%50.4%36.9%45.2%9.8%0.0%15.4M-151.3M-1.4M0.0316.3818,322580508,256150,991
2009-03-13$17.25$16.0045.0%12.9%50.5%35.2%43.9%9.3%-1.3%16.6M-145.1M-1.4M0.3716.3114,1025,198517,304151,246
2009-03-16$17.44$16.0045.2%13.0%50.9%35.4%41.7%9.9%-1.0%16.7M-162.1M-1.3M0.4317.538,6023,699503,249155,516
2009-03-17$17.95$16.0040.5%11.6%49.6%30.1%40.7%9.3%1.2%18.4M-223.2M-1.4M1.2211.623,9894,881502,186156,270
2009-03-18$18.29$16.0041.7%12.0%50.2%31.5%44.1%7.5%1.1%18.7M-269.0M-1.4M0.9713.0416,80216,269504,742160,806
2009-03-19$18.11$16.0043.7%12.5%49.8%33.8%42.8%8.9%0.9%18.3M-247.2M-1.4M0.3112.6728,6628,761505,454176,028
2009-03-20$17.39$16.0047.8%13.7%51.4%38.4%44.8%8.6%0.1%15.1M-146.6M-1.4M0.2110.623,964847504,961179,843
2009-03-23$18.65$16.0041.2%11.8%55.7%31.0%43.8%8.8%0.8%15.6M-363.8M-1.4M0.5218.386,9203,568420,013131,094
2009-03-24$18.50$16.0045.4%13.0%55.4%35.7%41.3%8.2%-0.1%16.7M-358.7M-1.4M0.7015.859,0226,276422,713133,792
2009-03-25$18.65$16.0042.9%12.3%54.6%32.8%43.5%6.8%-0.2%17.1M-369.6M-1.4M0.0011.92513,7611,998428,195137,806
2009-03-26$19.65$16.0041.3%11.8%56.8%31.0%42.5%5.9%0.9%34.1M-729.9M-1.8M0.2210.9421,9964,878693,055138,216
2009-03-27$19.28$16.0045.7%13.1%56.4%36.0%45.9%4.6%-0.7%24.3M-369.6M-1.5M3.7217.309,99137,147506,259141,753
2009-03-30$18.32$17.0048.5%13.9%53.8%39.2%47.4%4.4%-0.7%18.2M-201.6M-1.4M0.4513.309,2024,122512,614163,251
2009-03-31$18.43$17.0047.4%13.6%53.5%37.9%46.4%3.9%0.0%20.0M-211.0M-1.4M0.6913.116,0094,128514,863165,663