XLI Options History — April 2026

In April 2026, XLI traded between $163.78 and $173.68. ATM implied volatility averaged 22.0%, placing in the 38.7% IV rank vs the trailing year. The 30-day expected move averaged 6.3%. IV traded below realized volatility by 3.7% (HV 20d: 25.7%). Max pain ranged from $156.00 to $170.00. Net GEX was positive for 1 of 14 trading days. Term structure was in contango for 5 of 14 days. Put/call ratio averaged 10.33.

Notable Days

  • 2026-04-08: Highest Volume — 165,811 contracts
  • 2026-04-08: Largest IV drop — 17.2% change
  • 2026-04-21: Highest IV Rank — 63.4%
  • 2026-04-07: Largest Expected Move — 7.3%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$169.80$163.78$173.68$164.94$171.15
Max Pain$164.79$156.00$170.00$168.00$170.00
ATM IV22.0%19.8%25.6%24.0%23.2%
Expected Move6.3%5.7%7.3%6.9%6.7%
HV 20d25.7%23.8%27.5%25.4%25.3%
HV 60d20.2%19.2%20.7%19.8%20.4%
IV Rank38.7%23.8%63.4%33.8%63.4%
IV Percentile85.7%79.0%92.9%89.7%91.3%
Term Structure-0.1%-1.1%1.0%-0.1%-1.1%
VWIV25.0%22.0%30.4%26.5%26.0%
Skew 25d5.2%0.2%11.4%8.5%4.8%
Skew 10d12.8%1.2%22.0%17.2%1.2%
Call IV 25d20.0%16.3%26.7%23.3%20.8%
Put IV 25d25.2%22.3%32.2%31.8%25.6%
Bid-Ask Spread %26.7019.4334.7221.3634.72
Gamma HHI0.100.070.130.130.10
Net GEX-72.3M-131.4M9.7M-93.4M-93.2M
Net DEX191.0M-284.0M784.5M566.5M160.2M
Net VEX-7.5M-8.4M-6.4M-7.9M-7.3M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio10.331.2980.9118.197.38
Total Volume45,309.1435,152165,811128,63324,774
Total OI625,970.071555,521728,994555,521675,482

Daily Data (14 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2026-04-01$164.94$168.0024.0%6.9%25.4%33.8%26.5%8.5%-0.1%-93.4M566.5M-7.9M18.1921.366,704121,92994,825460,696
2026-04-02$163.78$156.0024.5%7.0%24.1%35.2%26.1%11.4%-0.1%-126.5M781.6M-8.4M2.0427.106,97314,23096,685471,131
2026-04-06$164.47$156.0024.6%7.1%24.0%35.6%24.0%0.2%-0.2%-123.0M733.4M-8.1M1.7821.131,8563,29695,441463,758
2026-04-07$164.31$159.0025.6%7.3%23.8%38.4%30.4%2.2%-0.2%-131.4M784.5M-7.9M3.1929.115,97119,03496,377465,318
2026-04-08$170.27$159.0021.2%6.1%27.3%25.9%29.2%7.7%0.2%-51.3M-26.0M-6.8M12.5327.8612,251153,56097,834473,632
2026-04-09$172.37$162.0020.5%5.9%27.5%23.8%23.9%5.0%1.0%-44.7M-80.4M-7.4M5.1719.432,54013,135100,370513,832
2026-04-10$171.55$164.0020.8%6.0%26.1%24.7%23.2%4.8%0.5%-42.8M-73.6M-7.1M2.5225.783,9639,974101,405520,523
2026-04-13$172.25$165.0021.3%6.1%25.9%38.3%22.1%5.4%0.0%-39.2M-103.8M-6.7M2.9225.422,1436,26799,058514,323
2026-04-14$173.50$169.0019.8%5.7%25.8%32.1%26.4%5.1%0.5%-21.7M-239.6M-6.4M80.9123.701,544124,92899,716517,504
2026-04-15$171.11$170.0020.0%5.7%26.5%39.2%23.0%4.4%0.2%-85.9M173.9M-7.5M1.2929.3320,71826,734100,273582,256
2026-04-16$170.38$169.0020.8%6.0%26.3%49.5%22.5%4.9%-0.8%-94.0M239.7M-8.1M3.0631.543,86711,846117,158602,807
2026-04-17$173.45$170.0020.8%6.0%26.8%49.7%22.0%4.3%-0.6%9.7M-284.0M-7.1M1.3525.6211,62415,750119,018609,976
2026-04-20$173.68$170.0021.1%6.1%25.1%51.6%24.7%4.7%-0.6%-75.2M42.2M-7.6M2.3431.732,6106,107100,386573,797
2026-04-21$171.15$170.0023.2%6.7%25.3%63.4%26.0%4.8%-1.1%-93.2M160.2M-7.3M7.3834.722,95621,818100,853574,629