XOP Options History — April 2008

In April 2008, XOP traded between $217.88 and $245.44. ATM implied volatility averaged 33.9%, placing in the 14.1% IV rank vs the trailing year. The 30-day expected move averaged 9.8%. IV traded above realized volatility by 1.2% (HV 20d: 32.7%). Max pain ranged from $208.00 to $244.00. Net GEX was positive for 20 of 22 trading days. Term structure was in contango for 16 of 22 days. Put/call ratio averaged 1.27.

Notable Days

2008-04-28: Highest Volume — 83 contracts
2008-04-28: Largest IV spike — 38.3% change
2008-04-28: Highest IV Rank — 21.3%
2008-04-28: Largest Expected Move — 12.4%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$233.30	$217.88	$245.44	$217.88	$235.56
Max Pain	$232.00	$208.00	$244.00	$208.00	$244.00
ATM IV	33.9%	30.0%	43.4%	34.5%	31.5%
Expected Move	9.8%	8.9%	12.4%	9.9%	9.0%
HV 20d	32.7%	21.2%	43.5%	43.5%	29.0%
HV 60d	36.6%	34.8%	38.4%	38.4%	36.6%
IV Rank	14.1%	11.1%	21.3%	14.5%	12.2%
IV Percentile	44.8%	34.5%	64.3%	48.4%	34.5%
Term Structure	-0.2%	-13.4%	3.3%	0.7%	0.1%
VWIV	31.4%	31.2%	31.7%	31.2%	31.7%
Skew 25d	1.8%	-7.5%	18.6%	5.3%	2.4%
Skew 10d	8.5%	-5.6%	32.6%	15.4%	4.5%
Call IV 25d	34.1%	27.6%	54.0%	27.6%	30.5%
Put IV 25d	35.9%	26.6%	61.3%	32.8%	32.8%
Bid-Ask Spread %	109.82	44.64	161.29	126.06	44.64
Gamma HHI	0.22	0.16	0.36	0.26	0.32
Net GEX	3.3K	-32.4K	9.2K	9.2K	-32.4K
Net DEX	-318.4K	-494.1K	367.5K	-295.3K	367.5K
Net VEX	-995	-5.8K	-340	-745	-5.8K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	1.27	0.00	10.00	0.00	2.75
Total Volume	5.318	0	83	0	0
Total OI	34.727	21	128	25	128

Daily Data (22 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
2008-04-01	$217.88	$208.00	34.5%	9.9%	43.5%	14.5%	0.0%	5.3%	0.7%	9.2K	-295.3K	-745	0.00	126.06	0	0	20	5
2008-04-02	$222.00	$208.00	32.6%	9.3%	43.4%	13.0%	0.0%	1.6%	1.8%	8.2K	-325.0K	-694	0.00	124.73	0	0	20	5
2008-04-03	$221.40	$208.00	32.3%	9.3%	43.0%	12.8%	0.0%	2.0%	3.3%	8.6K	-326.9K	-708	0.00	127.19	0	0	21	5
2008-04-04	$224.72	$0.00	33.3%	9.9%	41.9%	13.6%	0.0%	-1.0%	1.5%	7.8K	-350.6K	-652	0.00	99.41	0	0	21	5
2008-04-07	$225.20	$0.00	30.8%	9.6%	41.6%	11.7%	0.0%	-1.2%	2.3%	7.2K	-360.2K	-607	0.00	100.28	1	0	21	5
2008-04-08	$229.44	$0.00	30.0%	9.7%	41.3%	11.1%	0.0%	2.2%	1.0%	5.9K	-388.7K	-588	0.00	99.56	0	1	21	5
2008-04-09	$228.76	$0.00	32.5%	9.6%	39.1%	13.0%	0.0%	-2.5%	1.2%	6.1K	-386.6K	-598	0.00	101.39	0	0	21	6
2008-04-10	$229.60	$0.00	37.4%	10.7%	38.4%	16.7%	0.0%	0.5%	0.2%	5.6K	-390.1K	-591	0.00	47.74	0	0	21	6
2008-04-11	$225.52	$0.00	34.7%	9.9%	38.2%	14.6%	0.0%	-1.1%	1.1%	6.5K	-374.6K	-616	0.00	100.60	0	0	21	6
2008-04-14	$230.52	$0.00	33.3%	9.5%	38.2%	13.6%	0.0%	-5.8%	1.3%	5.2K	-401.3K	-540	0.00	106.78	2	0	21	6
2008-04-15	$233.24	$0.00	33.4%	9.6%	33.7%	13.6%	0.0%	-1.7%	1.2%	6.9K	-449.0K	-514	0.00	108.52	0	0	23	6
2008-04-16	$241.68	$0.00	32.9%	9.4%	33.5%	13.3%	0.0%	-7.5%	-0.1%	4.7K	-490.3K	-430	0.00	112.56	1	0	23	6
2008-04-17	$239.52	$0.00	36.5%	10.5%	22.3%	16.0%	0.0%	15.6%	-3.6%	6.2K	-464.0K	-403	0.00	147.53	2	0	22	6
2008-04-18	$243.44	$0.00	36.7%	10.5%	22.3%	16.2%	0.0%	18.6%	-0.2%	3.2K	-494.1K	-350	0.00	147.30	0	0	22	6
2008-04-21	$245.44	$0.00	31.1%	8.9%	21.2%	12.0%	31.2%	-3.3%	1.9%	2.8K	-318.0K	-340	0.00	112.29	1	0	15	6
2008-04-22	$244.88	$0.00	31.6%	9.1%	21.3%	12.3%	31.7%	-3.3%	1.7%	2.8K	-316.2K	-342	0.00	112.52	6	0	15	6
2008-04-23	$240.24	$244.00	31.5%	9.0%	22.3%	12.2%	0.0%	-1.2%	2.0%	7.6K	-376.1K	-592	0.00	114.42	0	0	21	6
2008-04-24	$234.80	$244.00	42.4%	12.2%	23.7%	20.6%	0.0%	6.3%	-9.4%	7.5K	-346.8K	-613	0.00	161.29	1	0	21	6
2008-04-25	$242.96	$244.00	31.4%	9.0%	25.8%	12.1%	0.0%	-1.7%	1.0%	8.1K	-399.8K	-591	0.00	100.77	0	0	21	6
2008-04-28	$242.04	$244.00	43.4%	12.4%	26.1%	21.3%	0.0%	11.9%	-13.4%	8.2K	-402.4K	-489	10.00	156.67	8	75	21	6
2008-04-29	$233.84	$244.00	32.8%	9.4%	29.6%	13.2%	0.0%	3.4%	-0.5%	-24.1K	283.6K	-5.1K	2.75	63.87	5	14	29	81
2008-04-30	$235.56	$244.00	31.5%	9.0%	29.0%	12.2%	0.0%	2.4%	0.1%	-32.4K	367.5K	-5.8K	0.00	44.64	0	0	34	94