XOP Options History — May 2020

In May 2020, XOP traded between $47.21 and $55.28. ATM implied volatility averaged 59.2%, placing in the 31.9% IV rank vs the trailing year. The 30-day expected move averaged 17.0%. IV traded below realized volatility by 10.2% (HV 20d: 69.3%). Max pain ranged from $22.00 to $40.00. Net GEX was positive for 15 of 20 trading days. Term structure was in contango for 12 of 20 days. Put/call ratio averaged 1.15.

Notable Days

  • 2020-05-14: Highest Volume — 52,697 contracts
  • 2020-05-13: Largest IV spike — 16.6% change
  • 2020-05-01: Highest IV Rank — 37.7%
  • 2020-05-01: Largest Expected Move — 21.3%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$51.75$47.21$55.28$50.27$52.06
Max Pain$23.50$22.00$40.00$40.00$24.00
ATM IV59.2%50.9%69.8%69.8%52.1%
Expected Move17.0%14.7%21.3%21.3%14.8%
HV 20d69.3%64.6%74.1%66.1%66.9%
HV 60d104.0%102.1%106.3%102.1%104.9%
IV Rank31.9%27.4%37.7%37.7%28.0%
IV Percentile80.8%75.8%86.1%86.1%76.2%
Term Structure0.2%-1.2%2.3%-1.2%-1.0%
VWIV60.3%49.5%77.9%77.9%51.7%
Skew 25d12.8%8.6%19.6%15.6%8.9%
Skew 10d25.0%17.2%34.5%33.3%17.2%
Call IV 25d53.0%46.7%61.9%61.9%48.4%
Put IV 25d65.8%56.1%78.9%77.5%57.3%
Bid-Ask Spread %8.755.6212.3312.339.29
Gamma HHI0.060.050.090.050.05
Net GEX2.0M-2.4M6.0M321.0K3.5M
Net DEX-1.24B-1.39B-1.03B-1.21B-1.17B
Net VEX-2.4M-2.5M-2.2M-2.5M-2.5M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.150.434.491.131.08
Total Volume26,271.5510,58852,69738,10023,299
Total OI717,740.25667,034759,453698,200756,113

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2020-05-01$50.27$40.0069.8%21.3%66.1%37.7%77.9%15.6%-1.2%321.0K-1.21B-2.5M1.1312.3317,86220,238315,978382,222
2020-05-04$52.16$22.0068.1%19.4%66.1%36.8%70.5%19.6%0.2%1.3M-1.29B-2.4M1.299.317,76910,049312,292382,248
2020-05-05$51.51$22.0067.8%18.9%66.0%36.6%63.7%16.1%0.6%250.4K-1.26B-2.4M1.1510.0214,40116,628314,421387,863
2020-05-06$50.14$22.0066.6%18.9%66.6%35.9%71.5%17.0%0.1%-1.5M-1.17B-2.4M1.0710.6113,77614,686317,938392,553
2020-05-07$50.50$22.0064.4%18.6%64.6%34.7%66.7%16.1%0.6%-384.9K-1.20B-2.5M4.4910.535,02022,539326,713391,265
2020-05-08$53.51$22.0056.4%16.2%66.7%30.4%59.9%13.8%2.3%4.1M-1.39B-2.3M0.869.8510,7649,296328,196404,407
2020-05-11$53.00$22.0055.6%16.1%67.1%30.0%62.7%13.6%0.5%3.4M-1.36B-2.2M0.568.1112,8297,163321,642387,358
2020-05-12$51.74$22.0055.4%15.9%67.7%29.8%52.6%12.3%-0.2%3.0M-1.32B-2.2M0.4312.2613,4335,725331,085391,608
2020-05-13$47.94$22.0064.5%18.4%73.3%34.8%62.2%15.5%-0.2%-934.4K-1.08B-2.4M2.208.549,91821,786338,473395,723
2020-05-14$47.21$22.0066.6%19.1%70.8%35.9%66.0%13.6%-0.3%-2.4M-1.03B-2.4M1.209.3023,96928,728342,577398,346
2020-05-15$48.09$22.0062.5%18.0%65.6%33.7%60.6%12.3%-0.1%-1.7M-1.11B-2.5M0.677.7216,68211,204354,713404,740
2020-05-18$52.98$22.0056.0%16.0%72.7%30.2%60.2%11.3%0.2%3.6M-1.24B-2.3M0.976.9512,67912,277313,719353,315
2020-05-19$52.07$22.0057.4%16.5%73.3%30.9%61.6%11.3%0.4%2.8M-1.20B-2.4M0.576.2111,0766,263319,513360,363
2020-05-20$53.22$23.0054.7%15.7%73.0%29.5%55.3%10.3%0.8%4.1M-1.26B-2.3M0.997.7018,52518,432322,935362,672
2020-05-21$52.58$23.0056.2%16.1%72.6%30.3%56.7%10.6%1.0%3.1M-1.24B-2.5M0.958.9410,85110,302336,119378,176
2020-05-22$52.65$24.0054.4%15.5%72.6%29.3%51.7%10.1%1.2%2.3M-1.23B-2.5M0.957.717,6067,264336,292385,353
2020-05-26$55.28$24.0052.7%15.0%74.0%28.4%54.1%10.4%-0.1%5.0M-1.36B-2.4M0.726.8727,23919,548332,307380,359
2020-05-27$55.09$24.0051.2%14.7%74.1%27.6%49.5%10.3%-0.3%6.0M-1.37B-2.5M0.585.626,7223,866352,011395,342
2020-05-28$53.02$24.0050.9%14.7%67.0%27.4%51.7%8.6%0.4%3.5M-1.24B-2.5M1.077.167,2457,772352,895394,960
2020-05-29$52.06$24.0052.1%14.8%66.9%28.0%51.7%8.9%-1.0%3.5M-1.17B-2.5M1.089.2911,19312,106357,404398,709