XLU Options History — January 2025

In January 2025, XLU traded between $37.35 and $40.12. ATM implied volatility averaged 17.0%, placing in the 40.8% IV rank vs the trailing year. The 30-day expected move averaged 4.8%. IV traded above realized volatility by 1.0% (HV 20d: 15.9%). Max pain ranged from $38.00 to $38.75. Net GEX was positive for 7 of 20 trading days. Term structure was in contango for 10 of 20 days. Put/call ratio averaged 1.61.

Notable Days

  • 2025-01-27: Highest Volume — 132,372 contracts
  • 2025-01-15: Largest IV drop — 11.9% change
  • 2025-01-13: Highest IV Rank — 54.7%
  • 2025-01-27: Largest Expected Move — 5.4%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$38.63$37.35$40.12$38.08$38.88
Max Pain$38.33$38.00$38.75$38.50$38.75
ATM IV17.0%15.9%18.7%16.7%17.9%
Expected Move4.8%4.5%5.4%4.7%5.2%
HV 20d15.9%11.7%21.1%12.4%20.9%
HV 60d16.6%15.5%17.9%15.8%17.0%
IV Rank40.8%32.5%54.7%38.7%48.7%
IV Percentile65.8%42.5%86.1%66.3%81.7%
Term Structure-0.1%-0.9%0.8%0.1%-0.4%
VWIV17.2%15.9%19.6%16.6%18.1%
Skew 25d1.7%-6.9%8.2%2.3%4.9%
Skew 10d5.0%-1.5%12.1%-1.5%7.8%
Call IV 25d16.2%12.8%20.5%15.5%17.3%
Put IV 25d17.9%12.0%22.2%17.8%22.2%
Bid-Ask Spread %27.077.8741.2324.9834.74
Gamma HHI0.100.060.330.080.06
Net GEX-5.8M-35.1M61.3M-2.3M-10.7M
Net DEX-24.7M-418.0M296.3M102.5M28.9M
Net VEX-6.0M-6.7M-5.3M-5.9M-6.6M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.610.104.190.100.80
Total Volume50,637.711,906132,37274,52249,376
Total OI1,359,025.81,083,4201,543,5901,456,4801,260,372

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2025-01-02$38.08$38.5016.7%4.7%12.4%38.7%16.6%2.3%0.1%-2.3M102.5M-5.9M0.1024.9867,7366,786429,5061,026,974
2025-01-03$38.57$38.5015.9%4.5%13.5%32.5%16.2%1.9%0.8%11.6M-124.2M-5.9M0.5741.2330,48417,366471,4721,027,886
2025-01-06$38.14$38.0016.5%4.8%13.2%37.1%16.8%2.1%0.0%-15.0M50.0M-5.9M0.7727.0419,67815,204468,8081,029,052
2025-01-07$37.94$38.0017.0%4.9%12.4%41.1%17.1%2.0%-0.9%-25.3M140.4M-6.1M0.8733.586,3745,532470,3781,044,350
2025-01-08$37.89$38.0016.9%4.7%11.9%40.4%16.8%2.2%-0.2%-28.8M185.4M-6.1M4.0630.9612,13649,332473,8801,045,208
2025-01-10$37.78$38.0017.9%4.9%11.7%48.4%16.8%2.0%0.3%-29.0M198.3M-5.9M0.4734.7324,52411,426476,6001,050,626
2025-01-13$37.35$38.0018.7%5.1%12.1%54.7%17.5%8.2%-0.5%-35.1M296.3M-6.0M0.7133.7728,65220,346469,9201,036,096
2025-01-14$37.86$38.0018.1%5.0%13.2%50.3%17.9%-0.6%-0.6%-23.3M68.6M-5.9M1.3811.0212,85417,762487,8261,032,324
2025-01-15$38.39$38.0016.0%4.5%14.3%32.9%15.9%2.5%-0.2%-13.8M-127.5M-5.7M0.348.9552,75218,136497,5021,046,088
2025-01-16$39.28$38.0016.1%4.5%16.3%33.9%16.7%1.6%-0.4%22.8M-402.4M-5.6M1.6431.7119,26031,524461,9061,057,006
2025-01-17$39.42$38.0015.9%4.6%16.0%32.5%16.7%-3.2%0.0%61.3M-418.0M-5.6M0.867.8735,41030,284460,1461,066,554
2025-01-21$40.12$38.5016.3%4.7%15.6%35.8%16.9%1.8%0.0%14.5M-345.6M-5.3M0.5725.4530,43017,318296,774786,646
2025-01-22$39.23$38.5016.6%4.7%18.0%37.5%17.0%1.8%0.1%5.4M-146.1M-5.5M3.4235.3011,48039,224299,566798,758
2025-01-23$39.45$38.5016.5%4.7%17.7%36.9%16.4%1.9%0.2%10.3M-190.1M-5.6M4.1935.8410,19242,746303,292812,312
2025-01-24$39.74$38.5016.1%4.6%17.5%34.2%16.4%1.9%0.3%10.8M-230.5M-5.9M1.3516.1817,32023,378307,480849,512
2025-01-27$38.77$38.5017.7%5.4%20.0%46.9%19.6%3.3%0.5%-7.6M59.6M-6.4M4.1631.1925,630106,742305,072853,288
2025-01-28$38.27$38.7517.2%5.1%20.5%43.0%18.6%-6.9%-0.1%-29.4M209.2M-6.5M1.0417.3119,25819,964315,260890,142
2025-01-29$38.41$38.7517.6%5.1%20.5%46.4%18.5%2.2%-0.4%-26.9M159.6M-6.7M3.4236.295,21217,810328,734905,792
2025-01-30$38.95$38.7517.4%5.0%21.1%44.1%17.6%2.4%-0.8%-5.8M-8.4M-6.5M1.5323.3517,05426,062330,394907,014
2025-01-31$38.88$38.7517.9%5.2%20.9%48.7%18.1%4.9%-0.4%-10.7M28.9M-6.6M0.8034.7427,39021,986336,316924,056