XLP Options History — January 2026

In January 2026, XLP traded between $76.69 and $83.34. ATM implied volatility averaged 12.9%, placing in the 12.9% IV rank vs the trailing year. The 30-day expected move averaged 3.7%. IV traded above realized volatility by 0.4% (HV 20d: 12.5%). Max pain ranged from $78.00 to $82.50. Net GEX was positive for 0 of 20 trading days. Term structure was in contango for 11 of 20 days. Put/call ratio averaged 4.71.

Notable Days

  • 2026-01-14: Highest Volume — 174,913 contracts
  • 2026-01-14: Largest IV spike — 9.9% change
  • 2026-01-28: Highest IV Rank — 18.3%
  • 2026-01-30: Largest Expected Move — 4.1%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$80.89$76.69$83.34$77.59$83.34
Max Pain$80.28$78.00$82.50$79.00$82.50
ATM IV12.9%11.5%14.2%11.6%14.1%
Expected Move3.7%3.1%4.1%3.1%4.1%
HV 20d12.5%9.0%14.4%9.3%13.6%
HV 60d12.6%11.8%13.0%11.9%12.2%
IV Rank12.9%6.8%18.3%7.1%17.6%
IV Percentile46.1%7.1%72.2%10.3%70.6%
Term Structure0.1%-0.5%0.8%0.3%0.3%
VWIV14.3%8.7%19.6%8.7%17.1%
Skew 25d2.9%2.1%3.8%3.0%3.6%
Skew 10d5.3%-1.1%14.2%-1.1%6.5%
Call IV 25d12.0%10.4%13.1%10.5%13.0%
Put IV 25d14.9%13.2%16.7%13.5%16.6%
Bid-Ask Spread %71.5463.9183.7878.1166.60
Gamma HHI0.150.100.230.210.11
Net GEX-85.1M-134.7M-26.3M-111.4M-94.6M
Net DEX267.4M-105.4M686.1M491.0M241.9M
Net VEX-4.2M-4.8M-3.4M-4.4M-4.4M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio4.710.4913.982.4613.98
Total Volume37,810.657,711174,9138,63673,772
Total OI599,044.2527,876661,913531,250661,913

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2026-01-02$77.59$79.0011.6%3.1%9.3%7.1%8.7%3.0%0.3%-111.4M491.0M-4.4M2.4678.112,4946,14282,889448,361
2026-01-05$77.35$78.0011.5%3.4%9.0%7.0%13.2%3.0%-0.1%-120.1M550.9M-4.4M3.1681.411,9896,29082,037445,839
2026-01-06$77.57$78.0011.5%3.3%9.0%6.8%12.7%2.8%0.3%-115.7M522.6M-4.3M0.6983.784,6823,23082,830448,226
2026-01-07$76.69$78.0012.0%3.5%9.5%8.9%12.7%2.5%-0.3%-134.7M686.1M-4.6M1.7181.492,8434,86884,165450,169
2026-01-08$78.44$78.0011.9%3.7%12.6%8.5%13.6%2.1%0.8%-78.6M358.6M-4.2M3.0971.056,96621,54585,074451,028
2026-01-09$79.25$78.0012.4%3.6%13.1%10.4%13.6%3.0%0.1%-60.0M242.5M-4.1M6.0768.196,24337,87287,905467,331
2026-01-12$80.10$78.0012.0%3.5%13.4%8.8%13.3%2.5%-0.4%-44.3M105.1M-3.8M0.9974.716,8166,75487,824482,749
2026-01-13$81.00$78.0012.1%3.5%13.7%9.3%13.5%2.7%0.2%-30.3M-29.4M-3.4M2.0070.986,47612,94487,927485,281
2026-01-14$82.09$78.0013.3%3.8%14.4%14.3%19.6%3.4%-0.0%-26.3M-105.4M-3.4M11.9772.8513,484161,42988,354492,937
2026-01-15$82.31$80.0013.4%3.8%14.3%14.9%15.7%3.3%-0.0%-51.7M10.9M-4.0M10.0567.986,32463,56186,543573,639
2026-01-16$81.94$82.0013.6%3.8%14.4%15.6%14.1%2.8%-0.4%-100.1M161.9M-4.4M4.7671.334,64522,13090,875558,142
2026-01-20$82.31$82.0014.1%4.0%14.3%17.9%17.5%3.8%0.1%-85.8M290.3M-4.4M5.8667.557,55744,26659,521506,531
2026-01-21$82.48$82.0013.9%4.0%14.1%16.7%15.5%2.7%0.7%-94.1M268.3M-4.3M5.4767.5913,07671,53067,147549,071
2026-01-22$82.31$82.0013.1%3.7%12.7%13.7%14.1%3.0%0.4%-98.0M301.2M-4.8M2.2365.578,60319,14678,922566,608
2026-01-23$82.81$82.0013.4%3.9%12.4%14.7%14.5%2.7%-0.4%-69.9M184.1M-4.4M3.4074.314,91216,71382,716573,331
2026-01-26$82.87$82.5013.6%3.9%12.3%15.8%15.2%2.9%-0.1%-83.1M184.5M-4.2M1.4763.913,4825,11676,051568,587
2026-01-27$83.09$82.5013.7%3.9%12.3%16.1%13.7%3.4%0.4%-81.2M166.6M-4.2M0.4967.1314,7937,23178,153570,166
2026-01-28$82.23$82.5014.2%4.1%13.2%18.3%13.8%3.0%0.0%-110.4M369.5M-4.6M1.5268.906,5389,96970,082574,866
2026-01-29$82.07$82.5013.6%4.0%13.2%15.7%14.6%2.2%-0.5%-111.9M347.7M-4.5M12.8367.252,87736,90569,706577,388
2026-01-30$83.34$82.5014.1%4.1%13.6%17.6%17.1%3.6%0.3%-94.6M241.9M-4.4M13.9866.604,92468,84869,884592,029