XLI Options History — April 2023

In April 2023, XLI traded between $97.07 and $101.37. ATM implied volatility averaged 17.8%, placing in the 11.0% IV rank vs the trailing year. The 30-day expected move averaged 5.1%. IV traded below realized volatility by 0.2% (HV 20d: 18.0%). Max pain ranged from $98.50 to $100.00. Net GEX was positive for 0 of 19 trading days. Term structure was in contango for 8 of 19 days. Put/call ratio averaged 3.19.

Notable Days

  • 2023-04-05: Highest Volume — 410,551 contracts
  • 2023-04-25: Largest IV spike — 18.6% change
  • 2023-04-04: Highest IV Rank — 26.0%
  • 2023-04-26: Largest Expected Move — 5.7%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$99.59$97.07$101.37$101.37$99.88
Max Pain$99.55$98.50$100.00$99.00$100.00
ATM IV17.8%15.4%20.3%18.0%15.4%
Expected Move5.1%4.4%5.7%4.9%4.4%
HV 20d18.0%13.8%22.3%20.5%17.6%
HV 60d16.8%16.1%17.4%17.4%16.8%
IV Rank11.0%0.0%26.0%9.9%0.0%
IV Percentile9.5%0.0%29.8%7.5%0.0%
Term Structure-0.0%-0.6%0.4%0.3%0.1%
VWIV19.4%16.3%22.7%18.7%16.9%
Skew 25d4.9%4.1%5.8%4.8%4.4%
Skew 10d9.9%8.4%14.0%10.1%8.6%
Call IV 25d15.5%13.6%17.7%16.0%13.6%
Put IV 25d20.4%17.9%23.4%20.8%17.9%
Bid-Ask Spread %18.403.4245.5632.0844.42
Gamma HHI0.100.070.130.130.09
Net GEX-106.7M-232.0M-28.9M-34.7M-63.9M
Net DEX504.2M-47.6M1.51B51.0M362.4M
Net VEX-9.0M-10.6M-8.0M-8.0M-8.9M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio3.190.846.894.764.01
Total Volume88,289.26310,386410,55135,37548,150
Total OI1,078,799.895922,3941,181,318922,3941,135,098

Daily Data (19 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2023-04-03$101.37$99.0018.0%4.9%20.5%9.9%18.7%4.8%0.3%-34.7M51.0M-8.0M4.7632.086,14029,235209,368713,026
2023-04-04$98.75$100.0020.3%5.6%22.1%26.0%20.4%5.6%0.4%-143.5M835.9M-9.0M2.5145.5623,41158,797212,494730,568
2023-04-05$97.78$98.5020.2%5.5%22.3%25.4%20.8%5.7%0.2%-190.9M1.18B-9.6M1.447.55168,335242,216231,092760,403
2023-04-06$97.78$100.0019.5%5.6%21.9%20.8%22.7%5.1%0.1%-200.3M1.26B-10.6M4.026.3410,38641,712280,499842,881
2023-04-10$98.52$100.0019.7%5.5%20.7%21.8%19.9%5.3%-0.6%-159.7M860.4M-9.9M2.2010.796,76314,850280,999844,964
2023-04-11$99.32$100.0018.6%5.4%20.9%14.0%22.2%4.9%0.4%-108.7M520.1M-9.4M6.895.855,23236,038284,113846,139
2023-04-12$99.59$100.0018.9%5.3%20.9%16.1%20.4%5.0%-0.4%-98.6M414.6M-9.4M2.4919.799,12622,697287,400856,306
2023-04-13$100.03$99.0017.9%5.1%18.7%9.4%20.8%4.7%0.2%-86.7M303.1M-9.1M2.7617.5111,27231,077292,985864,104
2023-04-14$99.84$99.0017.2%4.9%17.5%4.6%18.3%4.9%-0.1%-147.9M350.8M-9.0M5.169.453,12616,138297,127884,191
2023-04-17$100.41$99.0017.0%4.9%16.0%2.9%18.6%4.4%-0.2%-34.4M109.1M-8.5M1.0610.22152,999162,045254,316835,244
2023-04-18$101.07$99.0016.2%4.6%15.8%0.0%16.9%4.4%-0.1%-28.9M-47.6M-8.2M0.849.9217,08514,329255,425842,299
2023-04-19$100.88$100.0015.9%4.5%15.2%0.0%16.3%4.1%-0.0%-39.4M-17.6M-8.5M2.475.012,9937,393263,689849,219
2023-04-20$100.56$100.0016.4%4.7%14.4%3.7%19.4%4.8%0.3%-55.4M84.6M-8.4M2.886.967,24620,856263,664848,225
2023-04-21$100.48$100.0016.1%4.6%13.8%1.6%17.2%4.3%-0.3%-59.3M79.0M-8.2M2.723.4210,34028,074269,108860,699
2023-04-24$100.77$99.0015.6%4.5%13.8%0.0%18.0%4.4%-0.1%-61.0M218.5M-8.1M4.4027.354,75320,911227,530698,393
2023-04-25$99.06$99.0018.4%5.4%15.0%18.9%19.5%5.6%-0.1%-137.9M741.3M-8.8M1.1418.50161,272184,401228,705711,783
2023-04-26$97.07$100.0019.4%5.7%16.7%25.6%20.8%5.8%-0.2%-232.0M1.51B-10.0M4.6733.379,40543,886310,855797,835
2023-04-27$99.03$100.0016.8%4.8%17.4%8.2%19.9%5.1%-0.0%-143.8M768.1M-9.3M4.1235.448,74436,063317,822808,630
2023-04-28$99.88$100.0015.4%4.4%17.6%0.0%16.9%4.4%0.1%-63.9M362.4M-8.9M4.0144.429,60538,545322,556812,542