XLU Options History — April 2026

In April 2026, XLU traded between $44.95 and $47.22. ATM implied volatility averaged 18.7%, placing in the 36.2% IV rank vs the trailing year. The 30-day expected move averaged 5.4%. IV traded above realized volatility by 0.8% (HV 20d: 17.9%). Max pain ranged from $46.00 to $46.00. Net GEX was positive for 4 of 14 trading days. Term structure was in contango for 5 of 14 days. Put/call ratio averaged 1.27.

Notable Days

2026-04-07: Highest Volume — 81,371 contracts
2026-04-21: Largest IV spike — 9.5% change
2026-04-21: Highest IV Rank — 62.4%
2026-04-01: Largest Expected Move — 6.2%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$46.25	$44.95	$47.22	$46.16	$44.95
Max Pain	$46.00	$46.00	$46.00	$46.00	$46.00
ATM IV	18.7%	16.7%	21.6%	21.6%	19.4%
Expected Move	5.4%	4.8%	6.2%	6.2%	5.6%
HV 20d	17.9%	11.6%	19.5%	18.7%	13.0%
HV 60d	16.0%	15.5%	16.8%	16.8%	16.3%
IV Rank	36.2%	19.1%	62.4%	39.0%	62.4%
IV Percentile	76.7%	58.7%	93.7%	93.7%	84.9%
Term Structure	-0.1%	-1.0%	0.5%	0.1%	-0.1%
VWIV	19.6%	17.1%	24.4%	22.1%	19.0%
Skew 25d	2.0%	0.6%	4.6%	4.6%	1.8%
Skew 10d	5.1%	-10.1%	18.7%	18.7%	9.3%
Call IV 25d	18.3%	16.3%	21.2%	19.9%	19.2%
Put IV 25d	20.3%	18.2%	24.5%	24.5%	20.9%
Bid-Ask Spread %	27.42	20.98	37.08	24.04	30.46
Gamma HHI	0.08	0.07	0.12	0.07	0.08
Net GEX	-3.2M	-29.9M	37.5M	-10.1M	-29.9M
Net DEX	-244.0M	-527.6M	33.9M	-199.0M	33.9M
Net VEX	-9.7M	-10.3M	-9.1M	-10.2M	-9.8M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	1.27	0.27	7.34	0.59	0.66
Total Volume	33,888.143	12,916	81,371	13,782	29,513
Total OI	1,776,131.929	1,699,101	1,885,730	1,706,291	1,750,923

Daily Data (14 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
2026-04-01	$46.16	$46.00	21.6%	6.2%	18.7%	39.0%	22.1%	4.6%	0.1%	-10.1M	-199.0M	-10.2M	0.59	24.04	8,654	5,128	470,092	1,236,199
2026-04-02	$46.20	$46.00	21.4%	6.1%	18.5%	38.2%	20.8%	2.2%	0.1%	-9.0M	-177.3M	-10.3M	0.34	37.08	22,850	7,668	464,726	1,236,774
2026-04-06	$46.19	$46.00	20.1%	5.8%	18.5%	32.4%	21.1%	1.7%	-0.4%	-8.7M	-170.8M	-9.9M	1.66	26.80	10,991	18,280	467,854	1,231,247
2026-04-07	$46.34	$46.00	20.6%	5.9%	18.5%	34.7%	24.4%	2.4%	0.0%	-7.6M	-190.3M	-10.2M	7.34	26.67	9,756	71,615	468,330	1,237,374
2026-04-08	$46.70	$46.00	18.8%	5.4%	18.6%	26.5%	20.8%	2.9%	-1.0%	11.6M	-350.9M	-9.2M	0.64	31.10	16,581	10,662	470,921	1,303,980
2026-04-09	$47.22	$46.00	17.6%	5.0%	18.6%	21.1%	18.8%	1.1%	0.0%	37.4M	-527.6M	-9.3M	0.46	22.99	24,015	10,983	477,513	1,304,147
2026-04-10	$46.95	$46.00	17.2%	4.9%	18.5%	19.1%	18.2%	0.6%	-0.1%	37.5M	-464.5M	-9.3M	0.84	25.45	16,759	13,995	487,002	1,305,313
2026-04-13	$46.24	$46.00	18.5%	5.3%	19.2%	38.8%	20.8%	2.7%	-0.3%	-4.4M	-234.6M	-9.1M	1.13	20.98	15,454	17,439	481,331	1,306,126
2026-04-14	$46.53	$46.00	17.1%	4.9%	19.1%	28.8%	17.7%	1.7%	0.5%	8.3M	-297.5M	-9.1M	1.07	27.38	39,079	41,726	484,306	1,313,184
2026-04-15	$45.98	$46.00	17.8%	5.1%	19.5%	39.7%	18.3%	2.1%	-0.1%	-20.3M	-173.5M	-10.1M	0.27	25.24	16,702	4,525	516,757	1,349,974
2026-04-16	$46.23	$46.00	17.4%	5.0%	19.5%	43.4%	17.7%	1.5%	0.2%	-7.8M	-264.6M	-10.0M	1.29	28.10	5,633	7,283	526,130	1,353,746
2026-04-17	$46.08	$46.00	16.7%	4.8%	19.4%	36.4%	17.1%	1.9%	0.3%	-25.7M	-229.6M	-10.0M	0.46	26.99	14,955	6,932	526,775	1,358,955
2026-04-20	$45.67	$46.00	17.7%	5.1%	11.6%	46.2%	17.9%	1.2%	-0.3%	-16.2M	-170.2M	-10.0M	0.97	30.53	13,846	13,410	469,364	1,266,804
2026-04-21	$44.95	$46.00	19.4%	5.6%	13.0%	62.4%	19.0%	1.8%	-0.1%	-29.9M	33.9M	-9.8M	0.66	30.46	17,762	11,751	478,122	1,272,801