XOP Options History — December 2018

In December 2018, XOP traded between $97.28 and $135.36. ATM implied volatility averaged 44.9%, placing in the 82.6% IV rank vs the trailing year. The 30-day expected move averaged 13.3%. IV traded above realized volatility by 3.2% (HV 20d: 41.7%). Max pain ranged from $136.00 to $148.00. Net GEX was positive for 0 of 20 trading days. Term structure was in contango for 5 of 20 days. Put/call ratio averaged 2.43.

Notable Days

2018-12-14: Highest Volume — 111,453 contracts
2018-12-07: Largest IV drop — 17.6% change
2018-12-06: Highest IV Rank — 100.0%
2018-12-24: Largest Expected Move — 16.9%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$115.75	$97.28	$135.36	$135.36	$106.20
Max Pain	$143.40	$136.00	$148.00	$144.00	$136.00
ATM IV	44.9%	36.2%	56.7%	36.2%	46.3%
Expected Move	13.3%	10.8%	16.9%	11.8%	14.1%
HV 20d	41.7%	37.6%	51.5%	39.4%	51.0%
HV 60d	36.7%	33.3%	41.9%	33.3%	41.4%
IV Rank	82.6%	57.7%	100.0%	57.7%	69.6%
IV Percentile	96.3%	88.5%	100.0%	88.5%	97.2%
Term Structure	-0.5%	-2.5%	1.2%	-0.2%	-1.1%
VWIV	46.0%	37.2%	58.9%	42.1%	46.9%
Skew 25d	5.3%	4.1%	7.5%	4.7%	5.7%
Skew 10d	10.0%	7.5%	13.3%	9.2%	11.3%
Call IV 25d	42.1%	33.9%	52.8%	33.9%	42.9%
Put IV 25d	47.4%	38.5%	57.7%	38.5%	48.6%
Bid-Ask Spread %	2.79	1.98	4.53	2.31	2.41
Gamma HHI	0.11	0.09	0.14	0.10	0.10
Net GEX	-83.1M	-105.0M	-51.4M	-91.7M	-62.3M
Net DEX	4.02B	2.45B	5.33B	2.45B	3.62B
Net VEX	-9.7M	-12.5M	-7.1M	-12.5M	-8.3M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	2.43	0.36	6.09	2.32	0.91
Total Volume	49,479.1	15,038	111,453	23,408	15,038
Total OI	835,719.5	772,592	978,644	772,592	788,712

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
2018-12-03	$135.36	$144.00	36.2%	11.8%	39.4%	57.7%	42.1%	4.7%	-0.2%	-91.7M	2.45B	-12.5M	2.32	2.31	7,061	16,347	231,963	540,629
2018-12-04	$130.96	$144.00	42.6%	13.9%	39.1%	84.6%	47.1%	5.2%	-0.3%	-96.6M	3.02B	-12.3M	0.78	2.68	20,420	15,885	235,206	546,057
2018-12-05	$130.92	$144.00	43.3%	14.4%	39.2%	87.6%	48.5%	5.8%	-1.1%	-97.3M	3.04B	-12.1M	0.81	4.53	20,651	16,727	235,206	546,057
2018-12-06	$126.60	$148.00	46.8%	12.3%	38.2%	100.0%	42.9%	7.5%	-1.1%	-99.2M	3.54B	-11.5M	1.74	3.48	33,975	58,962	243,864	550,905
2018-12-07	$128.88	$148.00	38.5%	11.2%	37.6%	65.8%	39.4%	4.2%	1.2%	-100.9M	3.27B	-11.9M	0.89	2.83	16,566	14,714	262,841	563,805
2018-12-10	$122.16	$148.00	42.4%	11.9%	40.8%	81.9%	42.7%	5.8%	-1.1%	-93.7M	3.90B	-10.2M	4.09	1.98	9,629	39,355	249,483	547,238
2018-12-11	$122.04	$148.00	40.6%	11.6%	39.2%	74.5%	40.6%	5.6%	-0.0%	-100.4M	3.98B	-10.1M	1.75	2.33	10,413	18,176	252,162	560,315
2018-12-12	$123.20	$148.00	38.3%	11.0%	38.7%	64.7%	37.2%	5.0%	0.4%	-104.2M	3.92B	-10.2M	0.36	2.53	19,846	7,147	256,670	563,046
2018-12-13	$121.92	$144.00	37.1%	10.8%	38.5%	59.8%	37.6%	4.5%	0.7%	-105.0M	4.04B	-9.7M	3.33	2.37	8,310	27,631	258,900	558,987
2018-12-14	$115.96	$144.00	39.1%	11.4%	40.9%	68.1%	38.8%	4.1%	1.0%	-93.3M	4.57B	-8.7M	6.09	2.44	15,722	95,731	262,661	573,537
2018-12-17	$112.28	$144.00	44.3%	12.7%	41.5%	89.8%	43.9%	4.7%	-1.2%	-89.2M	4.84B	-9.1M	1.68	2.21	19,597	32,861	265,436	615,714
2018-12-18	$110.28	$144.00	46.3%	13.3%	41.5%	98.1%	45.3%	5.1%	-1.0%	-80.6M	4.95B	-9.0M	1.57	2.68	17,913	28,165	282,419	625,380
2018-12-19	$107.76	$144.00	46.1%	13.2%	40.1%	97.4%	45.7%	4.7%	-1.6%	-76.4M	5.15B	-8.8M	2.20	2.92	14,384	31,681	296,434	647,666
2018-12-20	$104.04	$140.00	49.4%	14.2%	39.0%	100.0%	49.4%	6.1%	0.6%	-65.1M	5.24B	-8.2M	3.90	2.81	12,375	48,323	307,608	653,482
2018-12-21	$101.36	$140.00	50.1%	14.6%	38.0%	100.0%	52.2%	5.8%	-2.5%	-60.0M	5.33B	-7.9M	2.95	3.01	13,258	39,079	308,718	669,926
2018-12-24	$97.28	$140.00	56.7%	16.9%	37.8%	100.0%	58.9%	4.9%	-1.0%	-51.4M	4.25B	-7.1M	5.81	3.83	5,053	29,342	230,371	568,979
2018-12-26	$105.72	$140.00	52.3%	15.7%	51.5%	87.2%	55.8%	6.1%	-0.9%	-69.4M	3.90B	-8.8M	2.71	3.28	22,212	60,239	233,370	567,740
2018-12-27	$106.48	$140.00	52.3%	16.0%	51.3%	87.1%	55.7%	5.5%	-1.1%	-65.9M	3.71B	-9.0M	3.79	2.55	12,776	48,428	242,033	560,820
2018-12-28	$105.60	$140.00	49.1%	14.9%	50.7%	77.9%	49.0%	5.8%	-0.4%	-58.7M	3.75B	-8.5M	0.90	2.51	34,608	30,982	246,159	563,891
2018-12-31	$106.20	$136.00	46.3%	14.1%	51.0%	69.6%	46.9%	5.7%	-1.1%	-62.3M	3.62B	-8.3M	0.91	2.41	7,876	7,162	239,145	549,567