XLI Options History — August 2025

In August 2025, XLI traded between $149.64 and $153.38. ATM implied volatility averaged 14.4%, placing in the 5.7% IV rank vs the trailing year. The 30-day expected move averaged 4.1%. IV traded above realized volatility by 2.2% (HV 20d: 12.2%). Max pain ranged from $148.00 to $152.00. Net GEX was positive for 18 of 21 trading days. Term structure was in contango for 14 of 21 days. Put/call ratio averaged 4.44.

Notable Days

  • 2025-08-01: Highest Volume — 535,901 contracts
  • 2025-08-04: Largest IV drop — 15.9% change
  • 2025-08-01: Highest IV Rank — 15.3%
  • 2025-08-01: Largest Expected Move — 5.2%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$151.48$149.64$153.38$149.64$151.91
Max Pain$149.38$148.00$152.00$152.00$150.00
ATM IV14.4%13.3%17.8%17.8%14.1%
Expected Move4.1%3.9%5.2%5.2%4.0%
HV 20d12.2%10.6%12.8%12.5%10.6%
HV 60d11.6%10.6%13.6%13.5%11.4%
IV Rank5.7%2.5%15.3%15.3%5.0%
IV Percentile23.9%2.4%71.0%71.0%22.2%
Term Structure0.1%-0.5%0.4%-0.5%-0.0%
VWIV15.6%13.5%18.6%18.6%15.2%
Skew 25d4.2%3.5%6.1%6.1%4.7%
Skew 10d8.8%6.3%13.3%13.3%8.9%
Call IV 25d12.5%11.5%15.0%15.0%12.7%
Put IV 25d16.7%15.2%21.1%21.1%17.3%
Bid-Ask Spread %4.862.907.676.973.27
Gamma HHI0.150.120.190.160.12
Net GEX26.7M-82.2M170.7M-82.2M-63.4M
Net DEX-319.4M-785.5M317.9M317.9M-108.7M
Net VEX-6.3M-7.0M-5.5M-6.5M-7.0M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio4.440.9419.371.383.86
Total Volume63,552.5244,195535,901535,90110,658
Total OI630,646.238591,557683,718613,814683,718

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2025-08-01$149.64$152.0017.8%5.2%12.5%15.3%18.6%6.1%-0.5%-82.2M317.9M-6.5M1.386.97225,526310,375199,839413,975
2025-08-04$151.19$149.0014.9%4.3%12.8%7.3%15.6%4.6%0.2%34.1M-342.5M-6.9M3.167.103,23710,232179,626411,931
2025-08-05$150.87$148.0015.2%4.4%12.8%8.0%17.3%4.7%-0.1%25.4M-286.0M-6.9M2.127.201,3452,850180,343413,517
2025-08-06$151.03$148.0014.4%4.2%12.6%5.8%14.7%4.2%0.1%29.6M-343.6M-6.6M1.617.673,8126,156180,664414,401
2025-08-07$150.61$148.0014.8%4.3%12.4%6.8%15.6%4.6%0.1%18.9M-304.3M-6.3M2.847.676,78819,290182,758418,663
2025-08-08$150.70$148.0014.1%4.1%12.3%4.8%14.4%3.9%0.2%32.0M-345.4M-6.4M3.966.832,83811,232188,217428,811
2025-08-11$150.28$148.0014.8%4.3%12.2%7.0%14.6%4.2%0.2%14.6M-247.5M-6.2M1.626.337,88312,747188,888433,272
2025-08-12$151.84$148.0013.5%4.0%12.6%3.1%18.1%4.0%0.3%52.2M-493.9M-6.4M8.955.912,04018,265187,424441,504
2025-08-13$152.25$149.0013.3%3.9%12.6%2.5%14.2%3.7%0.3%74.0M-577.0M-6.2M1.944.582,1324,145188,571453,110
2025-08-14$151.41$149.0013.9%4.0%12.4%4.3%16.2%3.6%0.2%23.9M-354.7M-6.5M0.944.506,1485,808189,939455,620
2025-08-15$150.57$150.0013.6%3.9%12.5%3.4%15.6%3.7%0.2%27.5M-282.8M-5.8M1.864.047,39313,746193,505456,630
2025-08-18$151.07$150.0014.1%4.1%12.5%4.9%15.6%3.6%0.3%38.0M-329.8M-5.8M5.753.641,81410,422181,676436,304
2025-08-19$151.16$150.0014.2%4.1%12.5%5.1%15.5%4.0%0.1%33.7M-285.1M-5.9M1.503.315,4908,208182,633443,010
2025-08-20$151.53$150.0014.1%4.0%11.0%4.8%17.7%4.1%-0.0%63.2M-419.1M-5.8M6.643.421,68811,203186,277445,786
2025-08-21$150.66$150.0014.9%4.3%11.2%7.3%15.8%4.4%-0.1%5.2M-174.5M-6.0M3.013.661,2203,672187,173451,420
2025-08-22$153.14$150.0013.6%3.9%12.3%3.4%16.1%3.5%0.4%170.7M-785.5M-5.5M1.463.31207,908302,807187,946451,283
2025-08-25$151.68$150.0014.0%4.0%12.6%4.7%14.0%4.5%0.1%-4.5M-206.3M-6.2M19.372.902,26543,879183,674439,111
2025-08-26$152.89$150.0014.0%4.0%12.1%4.6%14.5%4.5%0.1%8.5M-303.1M-6.9M2.033.411,8953,855184,007475,186
2025-08-27$153.38$150.0014.4%4.1%12.0%5.7%15.4%4.4%-0.3%33.4M-448.0M-6.7M3.093.041,0623,285186,838474,628
2025-08-28$153.28$150.0014.2%4.0%11.9%5.0%13.5%4.2%-0.1%26.9M-388.0M-6.7M16.063.311,71727,567187,456474,237
2025-08-29$151.91$150.0014.1%4.0%10.6%5.0%15.2%4.7%-0.0%-63.4M-108.7M-7.0M3.863.272,1958,463188,311495,407