XLU Options History — August 2025

In August 2025, XLU traded between $42.17 and $43.69. ATM implied volatility averaged 14.9%, placing in the 12.8% IV rank vs the trailing year. The 30-day expected move averaged 4.2%. IV traded above realized volatility by 1.8% (HV 20d: 13.1%). Max pain ranged from $40.00 to $41.50. Net GEX was positive for 18 of 21 trading days. Term structure was in contango for 9 of 21 days. Put/call ratio averaged 1.46.

Notable Days

2025-08-04: Highest Volume — 89,170 contracts
2025-08-22: Largest IV drop — 11.1% change
2025-08-05: Highest IV Rank — 17.9%
2025-08-01: Largest Expected Move — 4.9%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$42.91	$42.17	$43.69	$42.94	$42.17
Max Pain	$40.36	$40.00	$41.50	$41.50	$41.00
ATM IV	14.9%	13.4%	16.1%	16.0%	14.7%
Expected Move	4.2%	3.7%	4.9%	4.9%	4.0%
HV 20d	13.1%	11.5%	14.2%	11.5%	12.2%
HV 60d	12.7%	11.4%	13.8%	13.0%	11.4%
IV Rank	12.8%	6.3%	17.9%	17.4%	12.0%
IV Percentile	13.8%	0.8%	41.3%	39.3%	7.5%
Term Structure	0.1%	-0.5%	0.8%	-0.3%	-0.3%
VWIV	15.3%	13.1%	17.7%	17.7%	14.3%
Skew 25d	2.7%	-0.4%	7.4%	3.1%	3.2%
Skew 10d	6.4%	-1.0%	11.2%	10.7%	5.5%
Call IV 25d	13.5%	8.5%	14.8%	14.8%	13.4%
Put IV 25d	16.2%	13.5%	17.9%	17.9%	16.6%
Bid-Ask Spread %	34.93	4.79	53.32	40.98	50.07
Gamma HHI	0.08	0.05	0.18	0.18	0.09
Net GEX	10.5M	-25.3M	46.3M	46.3M	-11.2M
Net DEX	-535.6M	-765.3M	-280.7M	-630.2M	-280.7M
Net VEX	-5.3M	-5.6M	-4.9M	-5.3M	-5.3M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	1.46	0.54	3.55	1.41	1.06
Total Volume	36,125.524	10,410	89,170	71,492	32,600
Total OI	1,350,250.667	1,274,748	1,428,122	1,317,564	1,326,578

Daily Data (21 trading days)

Date	Price	Max Pain	ATM IV	Exp Move	HV 20d	IV Rank	VWIV	Skew 25d	Term Str	GEX	DEX	VEX	P/C	Spread %	Call Vol	Put Vol	Call OI	Put OI
2025-08-01	$42.94	$41.50	16.0%	4.9%	11.5%	17.4%	17.7%	3.1%	-0.3%	46.3M	-630.2M	-5.3M	1.41	40.98	29,720	41,772	357,662	959,902
2025-08-04	$43.69	$40.00	15.4%	4.5%	12.6%	15.1%	16.2%	1.7%	-0.1%	15.4M	-765.3M	-5.1M	2.92	10.17	22,772	66,398	352,544	974,486
2025-08-05	$43.12	$40.00	16.1%	4.5%	13.3%	17.9%	15.5%	2.7%	-0.4%	5.6M	-603.7M	-5.4M	1.61	20.41	18,030	28,942	354,966	1,011,014
2025-08-06	$42.91	$40.00	15.4%	4.5%	13.3%	15.2%	15.7%	2.4%	-0.1%	-3.1M	-517.1M	-5.5M	1.95	12.44	6,156	12,014	364,594	1,031,728
2025-08-07	$43.37	$40.00	15.3%	4.3%	13.5%	14.6%	15.9%	2.9%	0.1%	9.7M	-664.9M	-5.5M	1.30	24.00	17,876	23,306	367,464	1,030,382
2025-08-08	$43.01	$40.00	15.0%	4.3%	14.1%	13.5%	15.4%	-0.4%	0.1%	4.4M	-583.7M	-5.3M	2.03	18.75	11,766	23,856	369,104	1,035,590
2025-08-11	$42.89	$40.00	15.2%	4.4%	14.2%	14.3%	15.3%	2.7%	-0.1%	276.3K	-506.7M	-5.6M	0.73	4.79	16,724	12,264	364,952	1,037,934
2025-08-12	$43.09	$40.00	14.6%	4.2%	13.9%	11.8%	15.5%	2.5%	-0.1%	14.3M	-612.1M	-5.2M	0.97	7.61	12,254	11,852	375,732	1,044,338
2025-08-13	$43.16	$40.00	14.4%	4.2%	13.8%	10.7%	14.5%	7.4%	0.1%	17.3M	-632.8M	-5.3M	0.54	5.37	8,810	4,762	379,026	1,044,406
2025-08-14	$42.99	$40.00	14.4%	4.1%	14.0%	10.7%	15.1%	2.5%	-0.0%	15.6M	-586.9M	-5.3M	1.38	48.96	6,944	9,608	382,008	1,044,880
2025-08-15	$42.75	$40.00	14.7%	4.3%	13.4%	12.1%	14.8%	2.4%	0.3%	11.8M	-472.7M	-5.3M	0.74	53.32	31,144	23,136	385,682	1,042,440
2025-08-18	$42.63	$40.50	15.0%	4.3%	13.5%	13.5%	15.2%	2.5%	0.6%	9.0M	-463.9M	-5.3M	0.86	50.33	11,764	10,120	344,558	935,644
2025-08-19	$42.98	$40.50	14.7%	4.2%	13.0%	12.1%	14.9%	2.6%	0.8%	16.5M	-552.4M	-5.3M	0.77	48.24	5,874	4,536	350,722	941,990
2025-08-20	$43.16	$40.50	14.3%	4.1%	12.6%	10.1%	15.6%	2.6%	0.6%	24.4M	-635.3M	-4.9M	0.59	52.20	10,304	6,036	351,646	944,394
2025-08-21	$42.85	$40.50	15.0%	4.3%	12.9%	13.4%	16.0%	2.5%	0.5%	18.5M	-521.6M	-5.3M	1.09	42.85	11,386	12,418	353,188	946,590
2025-08-22	$43.03	$40.50	13.4%	3.7%	13.0%	6.3%	13.1%	1.9%	0.8%	35.7M	-589.1M	-5.0M	1.00	44.94	19,804	19,872	353,996	951,264
2025-08-25	$42.53	$40.50	14.8%	4.1%	12.9%	12.3%	13.9%	3.1%	-0.3%	13.2M	-440.6M	-5.1M	2.24	49.58	14,662	32,810	345,846	928,902
2025-08-26	$42.69	$40.50	14.6%	4.0%	12.5%	11.7%	14.2%	2.8%	-0.2%	1.6M	-448.4M	-5.2M	0.95	51.45	13,562	12,940	351,766	952,080
2025-08-27	$42.69	$40.50	14.8%	4.1%	12.2%	12.6%	15.8%	2.9%	-0.2%	1.3M	-434.8M	-5.3M	3.55	51.77	8,406	29,862	358,986	957,570
2025-08-28	$42.39	$41.00	14.5%	4.0%	12.2%	11.3%	16.0%	3.4%	-0.5%	-25.3M	-304.3M	-5.5M	2.92	45.22	15,702	45,872	364,308	984,402
2025-08-29	$42.17	$41.00	14.7%	4.0%	12.2%	12.0%	14.3%	3.2%	-0.3%	-11.2M	-280.7M	-5.3M	1.06	50.07	15,842	16,758	364,232	962,346