XOP Options History — April 2020

In April 2020, XOP traded between $30.98 and $54.55. ATM implied volatility averaged 78.8%, placing in the 42.5% IV rank vs the trailing year. The 30-day expected move averaged 22.6%. IV traded below realized volatility by 10.2% (HV 20d: 88.9%). Max pain ranged from $10.00 to $40.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 4 of 21 days. Put/call ratio averaged 0.99.

Notable Days

2020-04-09: Highest Volume — 70,147 contracts
2020-04-02: Largest IV spike — 12077.3% change
2020-04-03: Highest IV Rank — 50.4%
2020-04-21: Largest Expected Move — 27.2%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$42.47	$30.98	$54.55	$30.98	$54.55
Max Pain	$23.50	$10.00	$40.00	$10.00	$40.00
ATM IV	78.8%	0.8%	93.2%	0.8%	65.3%
Expected Move	22.6%	0.2%	27.2%	0.2%	20.1%
HV 20d	88.9%	56.6%	151.7%	146.9%	56.9%
HV 60d	96.7%	90.0%	101.7%	90.0%	101.7%
IV Rank	42.5%	0.1%	50.4%	0.1%	35.2%
IV Percentile	86.0%	0.4%	93.7%	0.4%	85.3%
Term Structure	-1.3%	-5.0%	5.4%	5.4%	-1.4%
VWIV	84.8%	67.2%	97.5%	88.4%	77.1%
Skew 25d	32.7%	16.2%	248.4%	248.4%	16.2%
Skew 10d	49.0%	30.2%	209.9%	209.9%	30.8%
Call IV 25d	71.6%	52.7%	86.7%	63.3%	58.0%
Put IV 25d	104.2%	69.0%	311.7%	311.7%	74.2%
Bid-Ask Spread %	11.91	6.41	20.07	20.07	9.81
Gamma HHI	0.08	0.05	0.17	0.09	0.06
Net GEX	1.5M	8.7K	3.8M	276.0K	3.1M
Net DEX	-1.00B	-1.46B	-614.3M	-614.3M	-1.46B
Net VEX	-2.7M	-3.1M	-2.0M	-3.1M	-2.1M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.99	0.25	2.72	0.72	1.05
Total Volume	33,024.667	5,538	70,147	5,538	40,022
Total OI	660,716.952	614,569	698,427	644,064	683,267

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
2020-04-01	$30.98	$10.00	0.8%	0.2%	146.9%	0.1%	88.4%	248.4%	0.0%	276.0K	-614.3M	-3.1M	0.72	20.07	3,229	2,309	289,812	354,252
2020-04-02	$33.43	$12.00	91.3%	26.6%	151.7%	49.4%	86.1%	21.2%	5.4%	117.9K	-706.8M	-3.0M	1.25	15.35	14,489	18,131	290,938	342,410
2020-04-03	$34.75	$14.00	93.2%	26.2%	150.6%	50.4%	87.7%	26.5%	-1.4%	38.0K	-760.3M	-3.0M	0.41	12.17	16,974	6,942	298,640	353,793
2020-04-06	$36.59	$14.00	85.7%	23.7%	108.3%	46.3%	80.1%	24.8%	-2.1%	684.2K	-815.2M	-2.8M	0.97	14.73	13,340	12,980	297,905	344,570
2020-04-07	$38.41	$14.00	88.0%	25.2%	108.5%	47.6%	90.3%	23.1%	0.8%	860.5K	-912.3M	-2.8M	0.75	13.93	19,652	14,681	304,047	348,260
2020-04-08	$40.68	$16.00	90.4%	24.9%	102.5%	48.9%	88.6%	22.6%	-3.2%	1.4M	-1.02B	-2.8M	0.98	12.59	27,261	26,765	313,090	357,944
2020-04-09	$41.34	$16.00	89.6%	25.0%	95.4%	48.4%	87.2%	27.5%	-5.0%	3.3M	-1.06B	-2.7M	0.89	15.75	37,031	33,116	327,876	370,551
2020-04-13	$42.15	$17.00	84.6%	24.1%	92.1%	45.7%	80.7%	23.1%	-0.9%	1.5M	-1.07B	-2.6M	0.25	11.60	36,075	9,175	318,300	360,567
2020-04-14	$41.56	$17.00	82.0%	23.4%	91.6%	44.3%	82.3%	22.0%	-0.5%	1.6M	-1.02B	-2.7M	2.72	10.71	3,792	10,306	317,995	361,736
2020-04-15	$40.41	$17.00	88.1%	25.3%	88.2%	47.6%	91.1%	23.9%	-2.9%	949.6K	-962.0M	-2.8M	1.41	11.26	6,743	9,498	318,622	365,536
2020-04-16	$38.51	$18.00	87.9%	25.2%	77.7%	47.5%	87.5%	23.2%	-1.2%	8.7K	-868.6M	-2.9M	1.10	12.04	6,257	6,892	321,694	367,534
2020-04-17	$41.83	$18.00	83.3%	23.9%	79.0%	45.0%	83.2%	22.6%	-0.9%	1.4M	-1.04B	-2.7M	0.98	9.95	19,095	18,761	323,041	371,629
2020-04-20	$43.06	$21.00	89.2%	26.1%	79.2%	48.2%	97.5%	25.1%	-2.6%	729.3K	-912.1M	-2.7M	1.03	10.51	19,945	20,497	276,427	338,142
2020-04-21	$43.82	$32.00	92.8%	27.2%	69.2%	50.2%	96.0%	24.0%	-3.0%	624.8K	-934.6M	-2.8M	0.79	11.18	13,639	10,743	281,774	344,084
2020-04-22	$45.12	$32.00	86.0%	25.0%	66.1%	46.5%	87.5%	20.8%	-2.5%	1.5M	-999.2M	-2.7M	0.67	9.38	19,013	12,816	285,951	347,488
2020-04-23	$46.80	$35.00	81.5%	23.6%	64.1%	44.0%	87.3%	21.1%	-2.4%	2.6M	-1.08B	-2.7M	0.54	10.45	21,658	11,801	295,678	352,722
2020-04-24	$47.31	$36.00	75.9%	21.7%	62.6%	41.0%	79.8%	18.4%	-2.6%	3.8M	-1.12B	-2.6M	0.95	10.19	20,611	19,586	301,634	358,717
2020-04-27	$48.38	$37.50	71.4%	20.9%	57.8%	38.5%	81.4%	17.3%	-0.7%	1.7M	-1.16B	-2.5M	2.01	8.47	11,121	22,362	299,324	354,433
2020-04-28	$48.60	$38.00	66.4%	19.1%	56.6%	35.8%	73.6%	17.7%	0.8%	2.2M	-1.16B	-2.5M	0.71	6.41	17,004	12,094	303,940	361,915
2020-04-29	$53.65	$39.00	60.5%	18.1%	62.9%	32.6%	67.2%	16.3%	0.7%	2.7M	-1.41B	-2.0M	0.66	13.48	28,446	18,666	304,057	364,761
2020-04-30	$54.55	$40.00	65.3%	20.1%	56.9%	35.2%	77.1%	16.2%	-1.4%	3.1M	-1.46B	-2.1M	1.05	9.81	19,541	20,481	312,815	370,452