XOP Options History — February 2008

In February 2008, XOP traded between $187.72 and $223.16. ATM implied volatility averaged 43.7%, placing in the 21.5% IV rank vs the trailing year. The 30-day expected move averaged 9.6%. IV traded above realized volatility by 8.1% (HV 20d: 35.6%). Max pain ranged from $160.00 to $164.00. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 12 of 20 days. Put/call ratio averaged 0.14.

Notable Days

2008-02-21: Highest Volume — 5 contracts
2008-02-13: Largest IV spike — 224.9% change
2008-02-13: Highest IV Rank — 91.0%
2008-02-01: Largest Expected Move — 14.2%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$206.43	$187.72	$223.16	$196.36	$217.92
Max Pain	$160.84	$160.00	$164.00	$160.00	$164.00
ATM IV	43.7%	27.1%	135.0%	49.5%	29.1%
Expected Move	9.6%	7.8%	14.2%	14.2%	8.3%
HV 20d	35.6%	31.2%	40.0%	34.9%	37.0%
HV 60d	30.4%	29.0%	32.5%	29.3%	32.5%
IV Rank	21.5%	8.9%	91.0%	25.9%	10.4%
IV Percentile	55.9%	36.1%	99.2%	70.6%	38.5%
Term Structure	0.4%	-8.1%	4.7%	-0.8%	2.2%
VWIV	26.4%	19.0%	31.2%	31.2%	19.0%
Skew 25d	4.1%	-1.5%	14.1%	11.5%	-0.1%
Skew 10d	6.1%	-8.0%	28.7%	5.7%	8.6%
Call IV 25d	34.8%	24.2%	63.0%	63.0%	29.3%
Put IV 25d	38.9%	25.9%	74.5%	74.5%	29.2%
Bid-Ask Spread %	112.78	70.79	169.86	169.86	119.73
Gamma HHI	0.24	0.18	0.28	0.26	0.22
Net GEX	11.2K	6.1K	13.6K	12.6K	7.9K
Net DEX	-424.2K	-559.2K	-270.0K	-329.5K	-517.1K
Net VEX	-751	-909	-612	-849	-693
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.14	0.00	1.00	0.00	0.00
Total Volume	0.65	0	5	0	0
Total OI	30.5	28	35	28	35

Daily Data (20 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
2008-02-01	$196.36	$0.00	49.5%	14.2%	34.9%	25.9%	0.0%	11.5%	-0.8%	12.6K	-329.5K	-849	0.00	169.86	0	0	28	0
2008-02-04	$198.00	$160.00	31.1%	9.8%	34.0%	11.9%	0.0%	0.9%	-0.2%	13.0K	-343.3K	-813	0.00	107.19	1	0	28	0
2008-02-05	$190.60	$160.00	33.1%	10.0%	36.3%	13.4%	0.0%	8.4%	-0.3%	13.2K	-291.4K	-835	0.00	86.31	0	0	28	0
2008-02-06	$187.72	$160.00	80.8%	10.9%	36.3%	49.8%	0.0%	1.4%	-0.2%	11.7K	-270.0K	-846	0.00	159.03	0	0	28	0
2008-02-07	$190.80	$160.00	83.5%	10.8%	36.4%	51.9%	0.0%	1.4%	-4.1%	13.1K	-308.2K	-909	0.00	158.72	0	0	31	0
2008-02-08	$196.92	$160.00	36.7%	9.8%	38.5%	16.2%	0.0%	7.9%	-3.2%	13.4K	-340.4K	-815	0.00	102.24	0	0	28	0
2008-02-11	$202.96	$160.00	42.5%	9.2%	40.0%	20.6%	0.0%	6.0%	0.1%	13.5K	-393.0K	-757	0.00	110.46	1	0	28	0
2008-02-12	$201.76	$160.00	41.5%	9.2%	38.8%	19.9%	0.0%	2.5%	2.8%	13.6K	-392.1K	-803	0.00	71.65	0	0	29	0
2008-02-13	$205.64	$160.00	135.0%	10.3%	37.5%	91.0%	0.0%	8.1%	0.6%	12.3K	-419.7K	-801	0.00	155.34	0	0	29	0
2008-02-14	$205.16	$160.00	32.1%	9.2%	35.4%	12.7%	31.2%	3.3%	3.3%	13.3K	-424.6K	-766	0.00	70.79	0	0	29	0
2008-02-15	$202.72	$160.00	37.3%	10.7%	31.2%	16.7%	0.0%	6.2%	-2.3%	12.4K	-396.2K	-805	0.00	157.24	0	0	29	0
2008-02-19	$213.40	$160.00	39.8%	11.4%	35.4%	18.6%	0.0%	14.1%	-8.1%	11.1K	-481.3K	-680	0.00	151.04	0	0	29	0
2008-02-20	$214.60	$160.00	30.3%	8.7%	33.0%	11.3%	27.8%	1.4%	1.6%	11.3K	-503.7K	-612	0.00	83.73	1	0	29	0
2008-02-21	$209.12	$160.00	29.6%	8.5%	34.6%	10.8%	0.0%	1.0%	1.8%	13.2K	-464.1K	-663	0.00	79.78	0	5	29	0
2008-02-22	$211.68	$160.00	28.1%	8.1%	33.3%	9.6%	0.0%	2.1%	4.6%	11.0K	-459.8K	-809	0.00	81.94	0	0	29	5
2008-02-25	$219.68	$160.00	27.5%	7.9%	34.3%	9.2%	27.7%	3.8%	4.7%	8.1K	-531.2K	-643	1.00	114.19	1	1	29	5
2008-02-26	$221.88	$164.00	29.2%	8.4%	34.1%	10.5%	19.0%	-1.5%	2.0%	6.6K	-548.9K	-619	0.00	92.91	2	0	29	6
2008-02-27	$218.52	$164.00	29.3%	8.4%	35.0%	10.5%	0.0%	1.0%	1.8%	7.5K	-509.5K	-684	0.00	87.89	1	0	29	6
2008-02-28	$223.16	$164.00	27.1%	7.8%	35.3%	8.9%	0.0%	2.1%	0.7%	6.1K	-559.2K	-618	0.00	95.47	0	0	29	6
2008-02-29	$217.92	$164.00	29.1%	8.3%	37.0%	10.4%	0.0%	-0.1%	2.2%	7.9K	-517.1K	-693	0.00	119.73	0	0	29	6