XLP Options History — July 2025

In July 2025, XLP traded between $80.00 and $82.18. ATM implied volatility averaged 12.4%, placing in the 16.3% IV rank vs the trailing year. The 30-day expected move averaged 3.5%. IV traded above realized volatility by 1.9% (HV 20d: 10.5%). Max pain ranged from $81.00 to $82.00. Net GEX was positive for 2 of 22 trading days. Term structure was in contango for 16 of 22 days. Put/call ratio averaged 7.24.

Notable Days

  • 2025-07-18: Highest Volume — 154,790 contracts
  • 2025-07-10: Largest IV spike — 28.0% change
  • 2025-07-10: Highest IV Rank — 27.6%
  • 2025-07-07: Largest Expected Move — 3.8%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$81.12$80.00$82.18$82.06$80.00
Max Pain$81.45$81.00$82.00$81.00$81.00
ATM IV12.4%11.8%15.2%12.6%12.7%
Expected Move3.5%3.2%3.8%3.6%3.4%
HV 20d10.5%8.5%11.5%11.4%8.5%
HV 60d12.4%10.1%18.7%18.7%10.4%
IV Rank16.3%13.9%27.6%17.1%17.6%
IV Percentile44.0%27.4%84.9%53.6%54.4%
Term Structure0.0%-7.3%4.4%0.7%4.4%
VWIV12.8%11.6%14.2%13.9%12.5%
Skew 25d2.4%-2.2%4.5%3.5%2.2%
Skew 10d4.9%-0.4%13.4%5.0%1.2%
Call IV 25d11.4%10.7%12.1%11.2%12.1%
Put IV 25d13.8%9.4%15.9%14.7%14.3%
Bid-Ask Spread %61.8839.7479.1854.4350.79
Gamma HHI0.130.070.190.070.18
Net GEX-50.9M-106.0M5.8M-1.1M-106.0M
Net DEX220.7M-59.8M540.7M-25.6M540.7M
Net VEX-3.0M-3.7M-2.3M-2.3M-3.6M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio7.241.1452.821.657.42
Total Volume21,826.8642,351154,79026,74016,334
Total OI362,022.136249,426442,742249,426442,408

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2025-07-01$82.06$81.0012.6%3.6%11.4%17.1%13.9%3.5%0.7%-1.1M-25.6M-2.3M1.6554.4310,09316,64789,915159,511
2025-07-02$82.15$81.0013.0%3.5%11.4%18.6%12.7%-2.2%-0.6%633.5K-35.8M-2.3M1.2965.808,19110,58092,514168,757
2025-07-03$82.18$82.0012.7%3.7%11.2%17.3%13.7%2.8%0.3%5.8M-59.8M-2.4M7.8775.276905,42799,107173,092
2025-07-07$81.90$82.0012.8%3.8%10.6%17.7%13.5%2.9%0.5%-590.5K-11.5M-2.4M2.3662.601,0612,50797,638172,580
2025-07-08$81.44$82.0012.1%3.7%10.7%15.2%12.8%3.1%1.0%-8.2M33.5M-2.3M1.2368.371,0541,29798,258174,339
2025-07-09$80.70$82.0011.9%3.5%11.2%14.3%13.3%-1.9%0.1%-23.4M113.7M-2.3M11.5768.823,96445,84498,584174,630
2025-07-10$81.23$82.0015.2%3.5%11.5%27.6%12.4%3.3%-7.3%-23.0M101.2M-2.5M9.8879.182,74427,124100,465212,492
2025-07-11$80.93$82.0012.1%3.5%11.5%15.0%12.6%4.5%0.1%-35.1M135.6M-2.6M1.1968.812,3112,753101,595232,624
2025-07-14$80.82$82.0012.0%3.5%11.3%14.9%13.1%3.1%-0.3%-35.9M131.9M-2.5M2.8170.762,2646,373101,215229,941
2025-07-15$80.20$82.0012.9%3.7%10.7%18.3%14.2%3.1%0.2%-49.2M238.8M-2.7M21.1371.632,59554,832101,968232,449
2025-07-16$80.31$82.0013.0%3.7%10.5%18.7%12.7%3.1%-0.5%-83.7M372.1M-3.0M2.7671.513,1218,601102,489284,900
2025-07-17$81.02$82.0012.2%3.5%10.7%15.4%13.3%2.5%0.4%-67.9M256.9M-3.0M8.9369.141,45813,017104,174285,956
2025-07-18$80.91$81.0012.1%3.4%10.7%15.0%12.1%2.7%0.3%-66.1M244.0M-2.9M52.8273.602,876151,914104,313286,436
2025-07-21$80.87$81.0012.2%3.4%10.7%15.3%12.4%1.9%0.0%-74.3M344.0M-3.5M1.2758.552,5753,27887,037318,760
2025-07-22$81.48$81.0012.0%3.3%10.8%14.7%12.1%2.3%0.3%-62.8M263.6M-3.4M8.6060.253,42029,40588,533320,125
2025-07-23$81.55$81.0012.1%3.3%10.8%14.9%11.9%2.7%0.0%-67.5M272.6M-3.5M2.0754.371,4182,93890,090345,976
2025-07-24$81.37$81.0012.0%3.3%9.2%14.8%13.3%2.5%-0.0%-71.7M308.3M-3.5M8.4240.417746,51990,309347,159
2025-07-25$81.47$81.0011.8%3.2%9.2%13.9%12.5%2.8%0.3%-68.7M294.4M-3.5M1.6739.871,9123,18490,625347,566
2025-07-28$80.66$81.0012.0%3.2%9.8%14.5%12.0%2.8%0.3%-94.8M420.7M-3.5M1.3439.741,9012,55688,580347,372
2025-07-29$80.98$81.0012.0%3.4%9.7%14.6%11.6%3.0%-0.0%-86.1M396.3M-3.5M1.7948.054,2567,60389,230348,033
2025-07-30$80.35$81.0011.9%3.5%8.5%14.2%12.2%2.3%0.4%-100.2M519.2M-3.7M1.1469.371,3021,47892,249350,493
2025-07-31$80.00$81.0012.7%3.4%8.5%17.6%12.5%2.2%4.4%-106.0M540.7M-3.6M7.4250.791,94014,39492,880349,528