XLP Options History — April 2025

In April 2025, XLP traded between $75.84 and $82.33. ATM implied volatility averaged 20.0%, placing in the 55.1% IV rank vs the trailing year. The 30-day expected move averaged 5.6%. IV traded below realized volatility by 5.6% (HV 20d: 25.6%). Max pain ranged from $80.00 to $81.00. Net GEX was positive for 1 of 21 trading days. Term structure was in contango for 7 of 21 days. Put/call ratio averaged 4.22.

Notable Days

  • 2025-04-04: Highest Volume — 74,696 contracts
  • 2025-04-09: Largest IV drop — 43.8% change
  • 2025-04-04: Highest IV Rank — 100.0%
  • 2025-04-08: Largest Expected Move — 8.8%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$80.58$75.84$82.33$81.63$81.73
Max Pain$80.71$80.00$81.00$80.00$81.00
ATM IV20.0%13.8%33.5%14.9%17.2%
Expected Move5.6%3.9%8.8%4.2%5.1%
HV 20d25.6%16.2%30.0%16.2%28.8%
HV 60d18.4%13.7%20.8%13.9%20.1%
IV Rank55.1%34.1%100.0%64.6%35.5%
IV Percentile96.2%87.3%100.0%92.9%92.9%
Term Structure-0.4%-3.7%2.8%1.3%0.5%
VWIV21.1%14.1%32.4%15.4%18.4%
Skew 25d7.1%3.3%12.7%4.0%5.8%
Skew 10d13.2%7.4%22.4%10.0%10.0%
Call IV 25d16.5%8.9%26.8%13.1%15.2%
Put IV 25d23.6%15.8%38.3%17.1%21.0%
Bid-Ask Spread %38.7811.4354.3139.5052.07
Gamma HHI0.090.060.120.110.11
Net GEX-27.1M-69.3M19.4M-16.1M-46.9M
Net DEX68.7M-308.0M484.7M-102.3M55.5M
Net VEX-3.3M-4.0M-2.9M-2.9M-3.9M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio4.220.3414.412.131.37
Total Volume32,807.0484,43074,69612,87713,826
Total OI388,710.333328,419463,339328,419463,339

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2025-04-01$81.63$80.0014.9%4.2%16.2%64.6%15.4%4.0%1.3%-16.1M-102.3M-2.9M2.1339.504,1158,762126,435201,984
2025-04-02$81.57$81.0013.8%3.9%16.2%53.9%14.1%3.3%0.4%-19.5M-105.7M-2.9M0.3441.073,2941,136128,992208,069
2025-04-03$82.12$81.0015.7%4.8%16.4%72.1%18.3%9.0%-0.6%-7.9M-191.2M-2.9M4.3137.878,22035,433130,640208,517
2025-04-04$79.30$81.0022.3%6.1%20.5%100.0%20.8%8.1%-0.3%-30.4M305.7M-3.2M3.9838.7015,01459,682135,172223,484
2025-04-07$77.58$81.0027.2%7.2%21.6%100.0%26.2%9.0%-2.0%-21.4M369.5M-3.0M2.1344.7412,14525,872143,096200,155
2025-04-08$75.84$81.0033.5%8.8%22.5%100.0%32.4%11.5%-3.7%-17.7M484.7M-3.0M2.3644.9211,80527,900143,883201,824
2025-04-09$78.91$80.0018.8%5.4%25.8%41.8%21.5%6.8%0.1%-18.5M230.6M-3.0M2.0141.969,17218,409152,635206,872
2025-04-10$79.10$80.0026.7%7.4%25.8%72.8%25.5%9.6%-1.1%-13.2M176.6M-3.3M2.6954.316,86818,469154,412215,829
2025-04-11$80.52$80.0020.7%5.8%26.6%49.2%25.0%7.7%-0.6%-11.0M-16.4M-3.2M5.7243.086,97839,942157,351228,655
2025-04-14$81.99$80.0017.1%4.9%26.8%34.8%18.4%6.5%-0.6%-7.9M-225.9M-3.2M5.5553.393,56319,762158,320249,190
2025-04-15$81.19$80.0016.9%4.9%26.8%34.1%17.9%5.9%-0.2%-24.1M-104.8M-3.1M6.3712.591,90012,109160,217250,879
2025-04-16$79.98$81.0020.2%5.8%27.4%47.2%22.0%6.7%2.3%-33.5M116.0M-3.3M3.9746.893,96615,745160,873253,061
2025-04-17$82.13$81.0018.8%5.3%28.8%41.7%20.6%6.3%2.8%19.4M-308.0M-3.1M3.2339.058,54827,579161,775256,961
2025-04-21$80.90$81.0024.2%6.8%29.4%63.1%25.9%7.6%-3.5%-17.5M29.9M-3.3M14.4111.432,68438,669117,415220,664
2025-04-22$82.33$81.0020.6%6.0%30.0%48.9%23.0%6.5%0.4%-15.5M-93.8M-3.3M5.9226.349,65557,151118,618241,937
2025-04-23$81.62$81.0019.9%5.8%30.0%46.1%22.4%3.5%-1.0%-40.2M48.3M-3.6M4.9534.534,30621,315126,135276,409
2025-04-24$81.10$81.0018.8%5.5%29.7%41.7%20.0%4.6%-0.5%-57.8M147.2M-3.7M3.6329.4515,70456,946128,518293,642
2025-04-25$80.84$81.0017.0%4.9%29.4%34.4%18.0%12.7%-0.9%-60.7M219.7M-4.0M6.7529.114,15027,993133,883321,562
2025-04-28$80.67$81.0017.9%5.2%29.3%38.0%17.5%9.7%-0.7%-69.3M251.6M-4.0M2.4343.103,8079,234130,262317,920
2025-04-29$81.16$81.0017.4%4.9%28.7%36.1%20.3%4.4%-0.7%-59.4M154.9M-3.9M4.3550.173,20213,918131,970321,362
2025-04-30$81.73$81.0017.2%5.1%28.8%35.5%18.4%5.8%0.5%-46.9M55.5M-3.9M1.3752.075,8447,982132,118331,221