XLU Options History — March 2026

In March 2026, XLU traded between $44.58 and $47.52. ATM implied volatility averaged 21.2%, placing in the 37.2% IV rank vs the trailing year. The 30-day expected move averaged 6.1%. IV traded above realized volatility by 5.3% (HV 20d: 15.9%). Max pain ranged from $44.00 to $46.00. Net GEX was positive for 14 of 22 trading days. Term structure was in contango for 7 of 22 days. Put/call ratio averaged 1.22.

Notable Days

  • 2026-03-03: Highest Volume — 166,112 contracts
  • 2026-03-20: Largest IV spike — 26.0% change
  • 2026-03-20: Highest IV Rank — 50.3%
  • 2026-03-13: Largest Expected Move — 6.9%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$46.34$44.58$47.52$47.52$45.83
Max Pain$45.73$44.00$46.00$44.00$46.00
ATM IV21.2%19.1%24.1%20.9%22.8%
Expected Move6.1%5.5%6.9%6.0%6.5%
HV 20d15.9%11.0%18.9%15.6%18.5%
HV 60d15.3%14.1%17.0%14.4%17.0%
IV Rank37.2%27.9%50.3%35.7%44.5%
IV Percentile93.7%84.9%97.6%95.6%96.4%
Term Structure-0.4%-1.4%0.3%-0.6%-0.3%
VWIV22.0%19.9%25.4%21.0%23.4%
Skew 25d2.4%1.5%3.6%2.2%3.5%
Skew 10d3.7%-11.9%27.2%-3.0%9.8%
Call IV 25d20.8%18.8%22.7%19.8%21.8%
Put IV 25d23.2%20.5%25.9%22.0%25.3%
Bid-Ask Spread %40.0217.9884.4959.1517.98
Gamma HHI0.070.060.090.080.07
Net GEX3.0M-51.3M36.0M36.0M-20.7M
Net DEX-384.5M-878.3M202.5M-878.3M-47.7M
Net VEX-9.8M-10.6M-9.1M-9.5M-10.6M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.220.394.160.410.66
Total Volume43,868.22718,418166,11246,85823,828
Total OI1,713,438.5451,611,6721,865,3201,623,1741,696,363

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2026-03-02$47.52$44.0020.9%6.0%15.6%35.7%21.0%2.2%-0.6%36.0M-878.3M-9.5M0.4159.1533,12413,734521,8011,101,373
2026-03-03$47.23$44.0021.3%6.3%14.9%37.8%21.8%1.5%-0.6%29.6M-793.8M-9.4M0.9463.7985,67780,435525,8041,105,686
2026-03-04$47.36$44.0019.9%5.7%14.7%31.5%20.5%1.7%-0.2%23.2M-772.5M-9.1M0.5464.2222,93412,338501,5111,174,319
2026-03-05$46.91$46.0019.9%5.8%15.3%31.6%22.0%2.3%-1.4%17.2M-656.1M-9.4M1.5960.9120,84533,167513,1411,180,470
2026-03-06$46.84$46.0020.2%5.7%15.5%32.7%20.4%2.4%-1.2%19.7M-620.6M-9.8M1.2354.7022,26527,399519,3251,200,866
2026-03-09$46.91$46.0020.3%5.7%15.5%33.3%20.2%3.6%-0.4%17.8M-590.3M-9.8M1.2850.6217,57022,547516,3731,208,680
2026-03-10$46.61$46.0020.5%5.6%15.9%34.0%20.2%1.8%-0.9%14.3M-508.2M-9.8M1.2184.498,76510,575512,7941,216,535
2026-03-11$46.16$46.0021.1%6.0%15.6%36.7%21.0%3.3%0.0%5.6M-413.7M-9.6M0.6043.1213,8788,273515,4171,219,555
2026-03-12$46.61$46.0021.0%5.7%15.8%36.3%21.5%1.8%-0.6%16.7M-514.3M-9.6M2.5629.1415,83540,520519,2491,219,694
2026-03-13$46.89$46.0022.2%6.9%14.7%41.7%21.8%1.9%-0.8%22.1M-565.4M-9.9M0.4829.6226,30912,757515,5421,253,152
2026-03-16$47.24$46.0021.0%6.0%12.8%36.2%23.6%2.3%0.3%26.5M-664.2M-9.5M0.7325.7511,9938,784514,6301,251,776
2026-03-17$47.16$46.0019.3%5.6%12.9%28.8%20.2%1.7%0.2%33.7M-687.3M-9.4M1.0225.0716,57716,927518,1261,258,329
2026-03-18$46.84$46.0019.4%5.6%11.1%29.1%20.1%2.0%-0.2%24.9M-563.7M-9.4M0.6242.7311,3897,029517,0701,271,533
2026-03-19$46.56$46.0019.1%5.5%11.0%27.9%19.9%2.1%0.0%7.3M-422.5M-9.8M0.3929.4515,8986,228515,0441,350,276
2026-03-20$44.58$46.0024.1%6.6%18.9%50.3%24.3%3.2%-1.0%-51.3M202.5M-10.1M2.9331.8331,88693,357512,6091,351,724
2026-03-23$44.81$46.0021.3%6.2%18.8%37.8%21.9%2.4%0.0%-34.7M155.4M-9.9M0.5523.6016,3248,944436,3571,175,315
2026-03-24$45.25$46.0021.9%6.2%18.7%40.2%22.5%2.6%0.0%-26.9M23.4M-10.0M1.2629.0415,63119,708443,8481,179,230
2026-03-25$45.33$46.0021.7%6.2%18.6%39.5%23.3%2.1%-0.6%-26.4M9.2M-10.1M2.0230.817,33614,816454,5441,195,220
2026-03-26$45.30$46.0022.1%6.3%18.6%41.1%24.5%2.7%-0.2%-29.5M36.1M-10.0M4.1630.595,20021,614455,1461,199,998
2026-03-27$45.51$46.0022.9%6.3%18.2%45.0%25.4%3.2%0.2%-22.8M-54.2M-10.0M0.9931.9431,65331,350455,1891,212,430
2026-03-30$45.93$46.0023.3%6.7%18.6%46.6%24.8%3.0%-0.2%-16.9M-132.4M-10.5M0.6321.7612,1007,582463,0591,226,545
2026-03-31$45.83$46.0022.8%6.5%18.5%44.5%23.4%3.5%-0.3%-20.7M-47.7M-10.6M0.6617.9814,3159,513464,9671,231,396