XLU Options History — March 2021

In March 2021, XLU traded between $29.29 and $32.06. ATM implied volatility averaged 17.6%, placing in the 4.1% IV rank vs the trailing year. The 30-day expected move averaged 4.9%. IV traded below realized volatility by 0.5% (HV 20d: 18.1%). Max pain ranged from $30.50 to $31.00. Net GEX was positive for 17 of 23 trading days. Term structure was in contango for 13 of 23 days. Put/call ratio averaged 0.98.

Notable Days

  • 2021-03-11: Highest Volume — 169,074 contracts
  • 2021-03-05: Largest IV drop — 13.4% change
  • 2021-03-04: Highest IV Rank — 11.7%
  • 2021-03-04: Largest Expected Move — 6.1%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$30.92$29.29$32.06$29.86$31.92
Max Pain$30.76$30.50$31.00$30.50$31.00
ATM IV17.6%14.8%22.7%19.1%15.2%
Expected Move4.9%4.0%6.1%5.6%4.0%
HV 20d18.1%15.8%20.0%16.4%16.1%
HV 60d18.2%17.5%18.7%17.5%18.3%
IV Rank4.1%0.0%11.7%5.9%1.1%
IV Percentile18.5%0.0%62.7%30.2%1.2%
Term Structure0.1%-1.1%1.0%-0.5%0.4%
VWIV17.9%14.6%21.9%19.5%16.0%
Skew 25d3.6%1.6%6.9%3.4%3.3%
Skew 10d8.4%2.9%15.3%6.4%9.4%
Call IV 25d16.5%14.1%20.1%17.7%14.5%
Put IV 25d20.1%16.2%27.0%21.1%17.8%
Bid-Ask Spread %9.394.2740.3311.116.22
Gamma HHI0.150.070.360.180.19
Net GEX12.5M-51.0M46.3M-12.7M42.4M
Net DEX-57.3M-413.5M325.1M186.9M-246.7M
Net VEX-2.9M-3.3M-2.6M-2.6M-3.0M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.980.224.340.460.39
Total Volume56,647.1328,064169,07463,48451,646
Total OI789,600.522622,458991,116724,894709,172

Daily Data (23 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2021-03-01$29.86$30.5019.1%5.6%16.4%5.9%19.5%3.4%-0.5%-12.7M186.9M-2.6M0.4611.1143,40420,080352,722372,172
2021-03-02$29.81$30.5019.2%5.6%16.0%6.1%20.5%3.6%-0.9%-13.8M214.6M-2.7M1.315.0612,15815,970372,096387,316
2021-03-03$29.40$30.5020.4%6.0%15.8%8.0%20.1%4.6%-1.1%-18.1M325.1M-2.6M0.426.0634,43414,594374,318398,534
2021-03-04$29.29$30.5022.7%6.1%15.8%11.7%21.9%6.9%-0.4%-11.3M323.7M-2.8M1.4540.3331,63645,778391,466401,920
2021-03-05$29.91$30.5019.7%5.5%17.8%6.8%19.8%4.2%-0.4%-51.0M211.9M-2.8M0.5911.1721,52412,616391,660431,868
2021-03-08$30.39$30.5020.7%5.9%18.6%8.5%21.2%4.3%-0.3%3.5M46.0M-2.9M1.0129.1828,97429,204369,456403,006
2021-03-09$30.66$30.5019.5%5.7%18.9%6.5%20.5%4.2%0.3%9.5M-17.8M-2.9M0.785.0617,11613,348378,086420,058
2021-03-10$30.84$30.5020.5%5.7%19.1%8.1%21.8%4.9%-0.3%12.3M-64.3M-3.0M4.346.209,41240,822381,372425,752
2021-03-11$30.84$30.5019.8%5.5%18.9%7.0%19.4%5.1%-0.9%8.3M-50.3M-3.0M0.976.1885,69883,376381,130445,668
2021-03-12$31.17$30.5018.5%5.4%19.3%4.9%20.2%3.7%0.7%18.1M-154.7M-3.3M1.199.2821,29825,410443,702506,994
2021-03-15$31.49$30.5017.0%4.9%19.4%2.6%17.8%2.7%0.7%33.8M-302.1M-3.0M0.397.1458,45822,548443,700502,548
2021-03-16$31.66$31.0016.2%4.7%19.2%1.4%17.0%2.4%-0.2%46.3M-413.5M-3.1M1.285.3812,31415,750477,410513,706
2021-03-17$31.20$31.0016.4%4.7%20.0%1.7%16.6%2.2%0.4%27.0M-161.9M-3.0M2.116.4112,17425,690459,392519,686
2021-03-18$31.04$31.0016.6%4.7%19.8%2.0%16.7%2.6%0.9%22.9M-83.5M-3.0M1.754.7613,84224,282456,292531,072
2021-03-19$31.32$31.0014.8%4.1%19.0%0.0%15.1%1.6%1.0%38.2M-239.2M-2.8M1.087.8940,88844,304456,960521,316
2021-03-22$30.79$31.0015.4%4.3%18.7%1.1%15.5%3.0%0.6%-6.9M62.0M-3.0M0.8911.3016,11614,340288,194334,264
2021-03-23$31.20$31.0015.4%4.2%19.0%1.1%15.2%3.2%0.3%10.0M-46.7M-3.0M0.414.2723,3089,628294,736338,158
2021-03-24$31.38$31.0015.2%4.2%18.6%1.0%15.2%3.2%0.6%18.3M-104.1M-3.0M0.285.1630,8848,756300,610345,344
2021-03-25$31.66$31.0015.2%4.2%18.1%0.9%15.4%3.3%0.4%28.5M-180.5M-3.0M0.534.9023,16412,240306,562347,760
2021-03-26$31.64$31.0014.9%4.0%17.0%0.3%14.6%3.0%0.5%25.0M-168.7M-2.9M0.225.7438,3008,278309,794352,904
2021-03-29$32.06$31.0016.1%4.5%16.7%3.6%16.1%3.6%-0.4%27.8M-256.0M-2.9M0.4711.8572,17833,726294,902345,378
2021-03-30$31.73$31.0016.0%4.3%17.3%3.2%15.5%3.7%0.5%28.6M-197.3M-3.1M0.225.2467,97415,244330,120351,536
2021-03-31$31.92$31.0015.2%4.0%16.1%1.1%16.0%3.3%0.4%42.4M-246.7M-3.0M0.396.2237,07414,572352,378356,794