XLP Options History — February 2026

In February 2026, XLP traded between $84.58 and $89.81. ATM implied volatility averaged 17.2%, placing in the 31.1% IV rank vs the trailing year. The 30-day expected move averaged 4.9%. IV traded above realized volatility by 3.7% (HV 20d: 13.6%). Max pain ranged from $82.50 to $88.00. Net GEX was positive for 0 of 19 trading days. Term structure was in contango for 7 of 19 days. Put/call ratio averaged 8.14.

Notable Days

  • 2026-02-05: Highest Volume — 795,003 contracts
  • 2026-02-12: Largest IV spike — 37.9% change
  • 2026-02-12: Highest IV Rank — 48.1%
  • 2026-02-12: Largest Expected Move — 5.5%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$87.98$84.58$89.81$84.58$89.81
Max Pain$86.50$82.50$88.00$82.50$88.00
ATM IV17.2%14.3%21.3%14.3%17.0%
Expected Move4.9%4.0%5.5%4.0%5.0%
HV 20d13.6%11.8%15.0%14.0%14.3%
HV 60d12.8%12.5%13.2%12.5%12.7%
IV Rank31.1%18.8%48.1%18.8%30.0%
IV Percentile90.0%74.2%98.0%74.2%88.5%
Term Structure-0.2%-1.8%0.6%-1.8%-0.3%
VWIV19.0%17.3%21.1%17.3%19.7%
Skew 25d3.6%2.1%6.1%3.7%3.3%
Skew 10d4.7%-1.7%9.6%9.1%2.1%
Call IV 25d15.7%12.7%17.0%12.7%15.7%
Put IV 25d19.3%16.4%22.2%16.4%19.0%
Bid-Ask Spread %55.4340.6370.6767.6949.47
Gamma HHI0.100.090.110.100.09
Net GEX-221.5M-382.4M-62.4M-86.1M-206.4M
Net DEX614.8M-56.0M1.35B106.2M514.9M
Net VEX-9.2M-11.8M-3.7M-4.0M-10.7M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio8.141.0326.476.028.43
Total Volume158,972.05327,720795,00334,815121,577
Total OI1,657,631.105723,1052,067,049723,1052,002,838

Daily Data (19 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2026-02-02$84.58$82.5014.3%4.0%14.0%18.8%17.3%3.7%-1.8%-86.1M106.2M-4.0M6.0267.694,95629,85968,596654,509
2026-02-03$85.84$83.0016.0%4.5%14.2%25.8%19.8%4.0%-0.1%-68.6M-10.3M-3.7M5.3570.6711,77462,98170,932670,712
2026-02-04$86.91$83.0016.5%4.5%14.4%28.0%17.3%2.1%-0.2%-62.4M-56.0M-3.8M14.7170.2226,782394,07976,339697,510
2026-02-05$86.90$85.0018.1%5.0%13.1%34.6%21.1%3.9%-0.2%-96.0M251.5M-6.4M16.8650.4044,505750,49895,333828,704
2026-02-06$87.93$86.0016.9%4.8%11.8%29.7%17.8%3.4%0.0%-204.0M458.1M-8.8M7.3040.6313,39497,791129,0281,498,055
2026-02-09$87.47$86.0016.1%4.7%12.3%26.2%18.1%3.6%0.3%-264.2M814.2M-9.9M10.2751.767,41876,179132,1661,563,278
2026-02-10$87.22$86.0016.4%4.7%12.4%27.4%18.1%2.8%-0.1%-272.8M826.6M-9.8M3.1451.1217,02153,506134,6291,580,724
2026-02-11$88.41$86.0015.4%4.6%12.6%23.4%18.3%3.2%0.4%-190.8M337.8M-8.5M13.5549.108,519115,393146,8291,603,422
2026-02-12$89.47$86.0021.3%5.5%12.4%48.1%19.9%6.1%-1.1%-175.8M168.2M-8.3M5.7857.8035,704206,449149,5661,666,215
2026-02-13$89.31$88.0018.5%5.4%12.6%36.4%20.1%2.9%0.6%-227.9M430.1M-9.4M7.8949.7119,084150,515168,4771,736,782
2026-02-17$88.15$88.0018.3%5.3%13.7%35.5%20.0%3.1%-0.5%-306.9M1.08B-11.3M12.1253.8013,371162,113171,1331,785,603
2026-02-18$87.98$88.0018.3%5.2%13.9%35.5%18.9%4.4%-0.4%-321.8M1.17B-11.8M3.9666.7211,76946,639190,2801,841,867
2026-02-19$87.59$88.0017.6%5.0%14.1%32.4%18.4%3.7%-0.4%-382.4M1.35B-11.8M1.6153.7821,35334,384196,7271,865,698
2026-02-20$87.81$88.0017.2%4.9%14.0%30.9%18.3%2.6%0.0%-342.3M1.14B-11.4M3.8952.6810,59741,197201,4351,865,614
2026-02-23$89.00$88.0018.5%5.4%14.4%36.5%19.7%4.0%-0.9%-235.0M759.5M-10.8M26.4748.569,367247,969175,8401,637,899
2026-02-24$89.58$88.0017.8%5.1%14.4%33.5%20.4%3.7%0.2%-223.3M604.9M-10.8M4.6859.8513,20261,804178,9101,743,059
2026-02-25$88.88$88.0016.8%4.9%15.0%29.0%20.2%3.4%0.2%-265.9M898.6M-11.5M1.5956.8027,44843,552189,1671,775,647
2026-02-26$88.80$88.0016.6%4.7%14.2%28.4%18.5%4.0%-0.2%-274.8M837.8M-11.2M1.0352.4313,68714,033199,6141,801,854
2026-02-27$89.81$88.0017.0%5.0%14.3%30.0%19.7%3.3%-0.3%-206.4M514.9M-10.7M8.4349.4712,898108,679194,5041,808,334