XOP Options History — December 2019

In December 2019, XOP traded between $80.28 and $95.04. ATM implied volatility averaged 31.3%, placing in the 13.4% IV rank vs the trailing year. The 30-day expected move averaged 9.2%. IV traded above realized volatility by 0.3% (HV 20d: 31.0%). Max pain ranged from $84.00 to $100.00. Net GEX was positive for 12 of 21 trading days. Term structure was in contango for 17 of 21 days. Put/call ratio averaged 0.96.

Notable Days

2019-12-09: Highest Volume — 68,519 contracts
2019-12-06: Largest IV drop — 6.6% change
2019-12-03: Highest IV Rank — 28.8%
2019-12-03: Largest Expected Move — 11.5%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$89.17	$80.28	$95.04	$81.60	$95.04
Max Pain	$96.67	$84.00	$100.00	$86.00	$96.00
ATM IV	31.3%	28.8%	35.9%	34.8%	30.4%
Expected Move	9.2%	8.3%	11.5%	10.7%	8.7%
HV 20d	31.0%	25.9%	35.3%	31.4%	30.0%
HV 60d	34.7%	31.8%	39.7%	39.7%	32.1%
IV Rank	13.4%	4.4%	28.8%	24.8%	15.1%
IV Percentile	31.4%	7.9%	69.4%	57.9%	29.0%
Term Structure	0.5%	-0.5%	2.5%	0.3%	0.5%
VWIV	31.9%	26.5%	39.3%	37.4%	30.7%
Skew 25d	2.3%	1.2%	3.6%	3.0%	2.3%
Skew 10d	4.2%	1.1%	6.6%	5.5%	3.5%
Call IV 25d	30.3%	27.8%	35.2%	33.3%	29.5%
Put IV 25d	32.5%	29.5%	37.4%	36.3%	31.7%
Bid-Ask Spread %	1.38	0.97	2.31	1.32	1.72
Gamma HHI	0.15	0.11	0.27	0.20	0.12
Net GEX	2.5M	-25.4M	38.5M	-25.1M	3.3M
Net DEX	1.25B	502.1M	2.28B	2.19B	550.6M
Net VEX	-9.7M	-10.4M	-8.5M	-8.6M	-9.7M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.96	0.13	7.01	0.29	0.72
Total Volume	30,744.952	14,316	68,519	33,563	20,555
Total OI	875,513.19	745,574	949,866	884,619	758,861

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
2019-12-02	$81.60	$86.00	34.8%	10.7%	31.4%	24.8%	37.4%	3.0%	0.3%	-25.1M	2.19B	-8.6M	0.29	1.32	26,079	7,484	414,967	469,652
2019-12-03	$80.28	$84.00	35.9%	11.5%	25.9%	28.8%	39.3%	2.2%	2.5%	-25.4M	2.28B	-8.5M	0.65	1.40	19,114	12,361	425,176	474,349
2019-12-04	$83.04	$84.00	35.1%	11.2%	29.6%	26.1%	38.7%	2.7%	0.2%	-17.0M	1.99B	-9.5M	0.13	1.25	51,114	6,393	435,782	477,842
2019-12-05	$82.20	$100.00	33.0%	9.6%	28.0%	18.6%	32.5%	2.8%	1.0%	-24.0M	2.14B	-8.9M	0.48	0.97	24,454	11,843	445,476	478,922
2019-12-06	$85.20	$100.00	30.8%	9.3%	30.6%	11.1%	31.9%	2.6%	0.9%	-10.0M	1.82B	-9.6M	0.51	1.15	18,640	9,564	441,072	482,653
2019-12-09	$85.72	$100.00	32.4%	9.6%	30.3%	16.5%	32.1%	2.9%	0.7%	-8.0M	1.75B	-9.6M	0.18	1.11	57,973	10,546	443,514	479,079
2019-12-10	$86.24	$100.00	32.3%	9.5%	29.4%	16.1%	34.0%	3.6%	0.8%	-4.5M	1.68B	-9.7M	0.26	1.57	19,581	5,027	443,174	484,712
2019-12-11	$85.76	$100.00	32.1%	9.5%	29.4%	15.6%	33.8%	3.1%	1.2%	-3.8M	1.74B	-9.5M	1.44	1.00	10,718	15,422	452,311	483,908
2019-12-12	$89.16	$100.00	32.3%	9.5%	32.3%	16.3%	32.8%	2.7%	1.0%	17.7M	1.19B	-10.4M	0.37	1.66	19,024	7,033	455,458	494,275
2019-12-13	$86.88	$100.00	30.8%	8.9%	33.6%	11.2%	32.4%	2.3%	0.4%	3.3M	1.59B	-9.6M	1.01	1.54	18,665	18,858	458,518	491,348
2019-12-16	$89.64	$100.00	29.7%	8.6%	35.3%	7.5%	29.2%	2.3%	-0.3%	25.4M	1.15B	-9.8M	0.31	0.98	16,951	5,274	453,581	480,880
2019-12-17	$91.56	$100.00	29.9%	8.6%	33.9%	8.2%	30.2%	2.3%	-0.2%	33.3M	804.4M	-10.1M	0.31	1.37	37,708	11,520	452,174	481,098
2019-12-18	$92.72	$100.00	29.2%	8.4%	31.6%	5.6%	28.7%	1.9%	0.5%	33.2M	662.1M	-10.3M	0.37	1.21	25,365	9,292	456,943	488,227
2019-12-19	$93.52	$100.00	29.9%	8.6%	31.6%	8.0%	29.6%	1.6%	-0.5%	38.5M	502.6M	-10.2M	0.27	1.21	24,972	6,708	456,039	482,206
2019-12-20	$92.84	$100.00	29.2%	8.4%	31.7%	5.8%	29.3%	1.2%	-0.1%	1.9M	1.01B	-10.1M	0.63	1.09	10,938	6,938	406,569	483,357
2019-12-23	$94.88	$96.00	28.8%	8.3%	32.2%	4.4%	28.8%	1.7%	0.5%	4.1M	580.1M	-10.0M	1.01	1.32	7,126	7,190	334,636	410,938
2019-12-24	$94.72	$96.00	29.0%	8.3%	32.3%	5.0%	26.5%	1.5%	0.4%	4.1M	565.6M	-10.1M	7.01	1.31	2,877	20,173	339,579	411,055
2019-12-26	$94.96	$96.00	30.2%	8.6%	30.4%	10.6%	29.9%	2.4%	1.0%	5.5M	502.1M	-9.9M	0.82	1.60	8,433	6,882	340,659	409,887
2019-12-27	$93.52	$96.00	30.3%	8.8%	31.3%	11.0%	30.7%	1.2%	0.4%	2.0M	731.3M	-9.7M	2.30	2.31	9,563	22,036	343,296	412,030
2019-12-30	$93.16	$96.00	30.9%	8.9%	29.7%	15.5%	31.2%	1.5%	0.4%	-1.9M	833.5M	-9.5M	1.00	1.94	7,621	7,629	340,226	411,348
2019-12-31	$95.04	$96.00	30.4%	8.7%	30.0%	15.1%	30.7%	2.3%	0.5%	3.3M	550.6M	-9.7M	0.72	1.72	11,916	8,639	344,091	414,770