XOP Options History — November 2007

In November 2007, XOP traded between $190.64 and $213.40. ATM implied volatility averaged 54.1%, placing in the 29.4% IV rank vs the trailing year. The 30-day expected move averaged 11.5%. IV traded above realized volatility by 22.8% (HV 20d: 31.3%). Max pain ranged from $188.00 to $204.00. Net GEX was positive for 8 of 21 trading days. Term structure was in contango for 2 of 21 days. Put/call ratio averaged 0.85.

Notable Days

2007-11-28: Highest Volume — 18 contracts
2007-11-13: Largest IV spike — 257.9% change
2007-11-14: Highest IV Rank — 93.0%
2007-11-02: Largest Expected Move — 17.0%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$200.60	$190.64	$213.40	$207.04	$194.08
Max Pain	$202.48	$188.00	$204.00	$188.00	$204.00
ATM IV	54.1%	26.9%	137.5%	28.7%	52.4%
Expected Move	11.5%	8.2%	17.0%	8.2%	15.0%
HV 20d	31.3%	27.9%	33.9%	31.6%	28.0%
HV 60d	26.6%	25.6%	27.2%	26.3%	26.5%
IV Rank	29.4%	8.7%	93.0%	10.1%	28.1%
IV Percentile	75.7%	51.4%	99.5%	56.9%	79.0%
Term Structure	-6.8%	-26.2%	0.2%	0.2%	-18.7%
VWIV	40.4%	28.6%	61.0%	28.6%	38.1%
Skew 25d	1.7%	-43.9%	20.4%	0.8%	1.2%
Skew 10d	6.7%	-21.3%	41.4%	-8.9%	-15.3%
Call IV 25d	48.7%	21.8%	100.3%	27.8%	72.8%
Put IV 25d	50.4%	28.6%	82.6%	28.6%	74.0%
Bid-Ask Spread %	126.34	31.44	165.78	68.27	164.89
Gamma HHI	0.28	0.20	0.37	0.32	0.23
Net GEX	-57	-4.4K	7.9K	-1.7K	2.3K
Net DEX	-192.0K	-358.9K	-39.4K	-272.6K	-194.6K
Net VEX	-1.4K	-1.9K	-1.1K	-1.3K	-1.9K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.85	0.00	5.00	0.00	0.00
Total Volume	2.286	0	18	0	0
Total OI	51.143	44	63	45	63

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
2007-11-01	$207.04	$188.00	28.7%	8.2%	31.6%	10.1%	0.0%	0.8%	0.2%	-1.7K	-272.6K	-1.3K	0.00	68.27	0	0	26	19
2007-11-02	$209.32	$188.00	59.3%	17.0%	31.6%	33.4%	0.0%	20.4%	-26.2%	-621	-278.4K	-1.3K	0.00	165.78	1	0	26	19
2007-11-05	$208.64	$204.00	66.5%	9.6%	31.3%	38.9%	0.0%	12.3%	-4.0%	-543	-279.2K	-1.3K	0.00	150.63	0	0	26	19
2007-11-06	$213.40	$204.00	26.9%	8.3%	31.4%	8.7%	28.6%	-0.3%	-0.9%	-2.9K	-358.9K	-1.1K	1.43	64.68	2	3	26	19
2007-11-07	$208.80	$204.00	30.2%	8.9%	31.1%	11.2%	0.0%	1.9%	0.2%	-3.7K	-256.7K	-1.3K	0.00	52.28	0	0	26	22
2007-11-08	$209.52	$204.00	76.5%	9.9%	27.9%	46.5%	33.3%	10.4%	-2.5%	-2.3K	-242.7K	-1.3K	5.00	150.68	1	3	26	22
2007-11-09	$206.00	$204.00	82.6%	10.2%	28.6%	51.2%	0.0%	8.1%	-1.4%	-666	-221.7K	-1.2K	0.00	154.83	0	0	25	19
2007-11-12	$197.04	$204.00	33.4%	10.7%	32.5%	13.7%	0.0%	1.6%	-2.0%	1.2K	-119.2K	-1.3K	0.00	31.44	10	0	25	19
2007-11-13	$200.64	$204.00	119.7%	11.0%	33.2%	79.4%	0.0%	5.0%	-2.6%	2.7K	-251.6K	-1.6K	0.00	154.87	1	0	33	19
2007-11-14	$201.88	$204.00	137.5%	11.2%	33.3%	93.0%	0.0%	5.9%	-1.8%	2.1K	-258.2K	-1.5K	0.00	156.30	0	0	32	19
2007-11-15	$197.56	$204.00	34.6%	9.9%	33.9%	14.6%	41.3%	8.0%	-0.2%	2.4K	-195.2K	-1.5K	0.00	108.94	0	5	32	19
2007-11-16	$200.36	$204.00	35.8%	10.3%	31.6%	15.5%	0.0%	1.6%	-1.7%	7.9K	-215.4K	-1.6K	0.00	38.24	0	0	32	24
2007-11-19	$197.48	$204.00	42.4%	12.2%	31.9%	20.5%	0.0%	2.7%	-4.8%	-1.3K	-142.6K	-1.6K	0.00	159.91	0	0	30	24
2007-11-20	$198.52	$204.00	42.5%	12.2%	32.0%	20.6%	0.0%	3.1%	-8.4%	-1.6K	-154.7K	-1.6K	0.00	160.20	0	0	30	24
2007-11-21	$194.76	$204.00	44.1%	12.6%	32.4%	21.8%	0.0%	6.6%	-10.0%	-1.0K	-102.8K	-1.5K	0.00	162.20	0	0	30	24
2007-11-23	$197.80	$204.00	34.6%	9.9%	32.5%	14.6%	0.0%	10.7%	-0.2%	-4.4K	-146.0K	-1.5K	0.00	116.62	0	0	30	24
2007-11-26	$193.32	$204.00	36.0%	10.3%	31.6%	15.7%	61.0%	-23.3%	-1.6%	-3.2K	-81.5K	-1.4K	0.00	102.88	1	0	30	24
2007-11-27	$190.64	$204.00	50.1%	14.4%	31.6%	26.4%	0.0%	1.1%	-16.4%	-171	-39.4K	-1.4K	0.00	164.41	1	0	29	24
2007-11-28	$192.28	$204.00	49.9%	14.3%	31.4%	26.3%	38.1%	-43.9%	-25.5%	2.6K	-42.7K	-1.4K	1.21	160.67	8	10	29	24
2007-11-29	$193.60	$204.00	51.8%	14.9%	28.7%	27.7%	0.0%	1.2%	-13.7%	1.9K	-177.0K	-1.9K	0.00	164.33	2	0	37	24
2007-11-30	$194.08	$204.00	52.4%	15.0%	28.0%	28.1%	0.0%	1.2%	-18.7%	2.3K	-194.6K	-1.9K	0.00	164.89	0	0	39	24