XLP Options History — March 2026

In March 2026, XLP traded between $81.13 and $89.06. ATM implied volatility averaged 18.9%, placing in the 38.0% IV rank vs the trailing year. The 30-day expected move averaged 5.5%. IV traded above realized volatility by 4.4% (HV 20d: 14.6%). Max pain ranged from $85.00 to $89.00. Net GEX was positive for 0 of 22 trading days. Term structure was in contango for 8 of 22 days. Put/call ratio averaged 7.54.

Notable Days

  • 2026-03-05: Highest Volume — 444,224 contracts
  • 2026-03-31: Largest IV drop — 10.5% change
  • 2026-03-30: Highest IV Rank — 48.8%
  • 2026-03-13: Largest Expected Move — 6.3%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$84.00$81.13$89.06$89.06$81.88
Max Pain$87.14$85.00$89.00$88.00$85.00
ATM IV18.9%17.4%21.9%17.4%19.6%
Expected Move5.5%5.1%6.3%5.3%5.6%
HV 20d14.6%13.3%15.8%14.4%13.3%
HV 60d14.3%12.8%15.1%12.8%14.7%
IV Rank38.0%31.8%48.8%31.8%38.7%
IV Percentile93.6%89.3%98.0%90.5%94.4%
Term Structure-0.1%-1.6%2.2%-1.0%-0.3%
VWIV20.7%18.5%24.8%22.4%20.1%
Skew 25d3.9%2.1%9.7%2.1%4.3%
Skew 10d6.7%1.5%18.4%5.2%12.2%
Call IV 25d17.7%13.6%20.9%16.8%18.2%
Put IV 25d21.6%18.9%24.7%18.9%22.5%
Bid-Ask Spread %41.7721.6272.9947.5922.91
Gamma HHI0.110.090.150.090.13
Net GEX-371.9M-570.1M-208.3M-276.6M-232.7M
Net DEX2.32B868.8M3.71B868.8M1.74B
Net VEX-10.6M-15.0M-9.0M-11.5M-9.0M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio7.541.7127.664.391.80
Total Volume91,636.13610,633444,22446,45210,633
Total OI1,570,419.455870,7582,183,5722,062,854914,766

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2026-03-02$89.06$88.0017.4%5.3%14.4%31.8%22.4%2.1%-1.0%-276.6M868.8M-11.5M4.3947.598,62637,826189,5031,873,351
2026-03-03$88.06$88.0018.2%5.6%14.6%35.3%23.8%4.6%1.8%-347.5M1.53B-12.9M11.6657.6814,847173,123194,7341,869,441
2026-03-04$87.40$88.0017.8%5.6%14.1%33.3%19.4%2.8%-0.5%-404.9M1.85B-13.2M2.2951.8715,48435,530193,7461,907,294
2026-03-05$85.48$89.0019.3%5.6%15.7%40.0%21.4%3.7%-0.4%-570.1M3.17B-14.2M27.6667.0815,498428,726201,0931,928,870
2026-03-06$85.82$89.0019.2%5.3%15.8%39.3%19.3%7.4%-0.3%-538.5M3.14B-15.0M4.2766.1518,89480,618196,3781,987,194
2026-03-09$86.07$88.0017.8%5.4%15.1%33.6%18.8%9.7%2.2%-465.0M2.52B-13.3M6.9472.9917,918124,354202,0941,812,740
2026-03-10$85.92$88.0018.3%5.1%15.1%35.7%19.2%2.4%-0.3%-418.6M2.05B-10.4M9.3067.865,40350,236189,3831,603,515
2026-03-11$84.70$88.0018.4%5.1%15.8%35.8%21.0%2.7%-0.1%-464.5M2.59B-10.5M9.7770.5811,668113,956190,2531,586,963
2026-03-12$84.32$88.0019.6%6.0%14.8%40.9%20.6%3.4%0.8%-486.7M2.84B-11.0M6.8331.863,95527,027187,5611,584,170
2026-03-13$84.62$88.0019.2%6.3%14.0%39.3%22.2%2.3%-1.3%-452.0M2.53B-10.1M8.3239.4417,827148,388187,0551,568,901
2026-03-16$84.95$88.0018.9%5.4%14.2%38.3%19.5%3.9%0.2%-448.4M2.30B-9.5M4.1430.805,03520,854184,7561,576,362
2026-03-17$84.73$87.0018.1%5.2%13.6%34.8%19.4%3.0%0.0%-476.7M2.32B-9.2M2.0633.725,94112,224186,5891,576,354
2026-03-18$82.80$87.0018.0%5.2%15.5%34.3%20.4%3.8%-0.0%-517.6M3.55B-9.6M16.1233.597,795125,660186,4571,577,316
2026-03-19$82.09$87.0018.1%5.2%15.7%34.7%18.5%3.7%-0.4%-456.9M3.71B-9.6M24.1234.4310,456252,175187,6401,524,983
2026-03-20$81.37$87.0019.2%5.5%15.6%39.3%20.4%3.6%-1.2%-299.8M3.51B-9.6M3.9227.089,87938,676186,6861,504,887
2026-03-23$81.28$87.0018.4%5.3%14.3%36.1%18.7%3.0%0.1%-236.0M1.89B-9.3M1.7128.5711,71420,00087,948784,474
2026-03-24$81.13$86.0019.2%5.4%13.7%39.3%19.8%3.5%0.1%-223.7M1.88B-9.3M2.0427.398,97818,27294,756778,053
2026-03-25$81.53$86.0019.5%5.7%14.1%40.7%19.6%4.3%-0.4%-220.5M1.82B-9.1M2.3121.625,05511,67597,300773,458
2026-03-26$81.19$85.0020.1%5.7%14.1%43.1%21.6%3.9%-0.7%-221.3M1.87B-9.2M2.8028.575,55215,560100,129778,743
2026-03-27$81.62$85.0020.7%5.8%13.3%43.6%24.8%3.6%0.2%-208.3M1.71B-9.1M11.2630.194,61051,913102,548782,585
2026-03-30$81.91$85.0021.9%6.2%13.5%48.8%23.5%3.8%-1.6%-215.5M1.70B-9.1M2.2526.864,1339,30198,893809,306
2026-03-31$81.88$85.0019.6%5.6%13.3%38.7%20.1%4.3%-0.3%-232.7M1.74B-9.0M1.8022.913,7966,837100,171814,595