XOP Options History — November 2020

In November 2020, XOP traded between $40.77 and $59.38. ATM implied volatility averaged 52.6%, placing in the 28.3% IV rank vs the trailing year. The 30-day expected move averaged 15.4%. IV traded below realized volatility by 14.0% (HV 20d: 66.6%). Max pain ranged from $43.50 to $50.00. Net GEX was positive for 14 of 20 trading days. Term structure was in contango for 8 of 20 days. Put/call ratio averaged 1.47.

Notable Days

  • 2020-11-23: Highest Volume — 100,075 contracts
  • 2020-11-04: Largest IV drop — 15.2% change
  • 2020-11-02: Highest IV Rank — 33.9%
  • 2020-11-02: Largest Expected Move — 19.4%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$49.73$40.77$59.38$42.20$54.30
Max Pain$48.52$43.50$50.00$45.00$50.00
ATM IV52.6%47.7%62.9%62.9%54.4%
Expected Move15.4%13.7%19.4%19.4%15.8%
HV 20d66.6%44.3%76.0%48.2%75.9%
HV 60d52.9%42.8%59.7%43.7%59.7%
IV Rank28.3%25.7%33.9%33.9%29.3%
IV Percentile51.1%36.5%75.8%75.8%58.7%
Term Structure-0.4%-2.0%1.2%-0.9%-1.4%
VWIV55.3%49.9%67.8%67.8%57.2%
Skew 25d2.8%0.7%4.1%3.9%3.6%
Skew 10d6.0%2.2%8.9%4.7%6.4%
Call IV 25d52.2%47.6%61.8%61.8%52.4%
Put IV 25d55.0%49.5%65.7%65.7%56.0%
Bid-Ask Spread %7.084.4012.339.547.12
Gamma HHI0.060.040.090.060.06
Net GEX3.3M-8.2M13.0M-1.5M-2.4M
Net DEX-591.5M-1.12B-22.1M-210.2M-634.7M
Net VEX-2.9M-3.3M-2.6M-2.6M-3.2M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.470.444.260.850.46
Total Volume38,781.410,577100,07519,51670,310
Total OI740,336.5663,590791,762663,590780,239

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2020-11-02$42.20$45.0062.9%19.4%48.2%33.9%67.8%3.9%-0.9%-1.5M-210.2M-2.6M0.859.5410,5658,951307,320356,270
2020-11-03$41.77$45.0062.0%19.3%47.9%33.4%67.7%4.1%-1.0%-2.3M-118.2M-3.2M1.465.9611,61416,977307,320356,270
2020-11-04$41.88$43.5052.6%16.6%47.2%28.3%58.8%3.1%1.0%-2.6M-172.6M-2.6M1.745.395,81310,130323,958373,170
2020-11-05$41.92$49.0052.3%15.1%44.3%28.2%52.5%0.7%-0.4%-2.9M-103.2M-3.3M0.4412.337,3283,249326,169376,201
2020-11-06$40.77$49.0051.0%14.6%45.0%27.4%52.1%2.1%0.0%-8.2M-22.1M-3.1M3.796.5411,57143,888330,029375,805
2020-11-09$47.48$50.0053.1%15.4%71.7%28.6%55.8%1.4%0.5%3.5M-476.6M-2.9M1.699.5921,12835,701320,735406,254
2020-11-10$48.45$49.0052.3%15.2%71.1%28.2%53.0%3.1%1.2%5.4M-540.8M-2.9M0.736.2623,12216,780326,520398,707
2020-11-11$47.92$49.0050.0%14.5%71.3%26.9%52.4%2.1%0.3%5.6M-517.4M-3.0M1.485.216,6289,834338,179412,808
2020-11-12$46.08$49.0052.5%15.3%72.8%28.3%55.1%3.4%1.0%1.4M-382.2M-2.6M0.817.1123,73219,141340,458419,308
2020-11-13$48.97$49.0050.3%14.6%74.9%27.1%51.6%3.1%0.9%6.0M-600.1M-2.8M0.815.1014,93912,126341,166430,478
2020-11-16$51.55$49.0048.6%13.9%76.0%26.1%50.5%2.4%0.1%7.8M-760.3M-2.7M0.775.0113,63210,463334,379430,712
2020-11-17$52.16$49.0047.7%13.7%75.8%25.7%50.0%1.9%-0.4%8.8M-829.2M-2.7M4.264.406,86029,191338,952434,084
2020-11-18$51.86$49.0049.5%14.2%74.7%26.6%52.5%2.7%-1.0%6.5M-787.2M-2.8M1.508.967,13010,674341,904434,022
2020-11-19$52.55$49.0049.1%14.1%73.1%26.4%49.9%3.2%-0.3%4.8M-850.1M-2.6M1.356.067,81610,548341,629442,790
2020-11-20$52.25$49.0049.7%14.3%73.2%26.7%52.4%4.0%-1.3%3.4M-823.1M-2.7M1.875.9411,70921,953345,602446,160
2020-11-23$56.53$49.0051.7%15.2%73.4%27.9%53.9%3.2%-1.1%7.2M-886.2M-2.6M0.875.5353,56946,506282,523387,895
2020-11-24$59.38$49.0052.8%15.2%73.8%28.4%54.6%2.4%-2.0%13.0M-1.12B-3.0M0.807.3529,99123,908318,411429,071
2020-11-25$58.77$50.0054.4%16.2%69.7%29.3%59.1%2.9%-1.5%9.2M-1.04B-3.1M2.679.7919,54152,271313,376447,493
2020-11-27$57.75$50.0054.8%16.3%70.9%29.5%59.2%2.5%-1.2%4.5M-950.3M-3.3M1.108.3517,32419,015326,317464,046
2020-11-30$54.30$50.0054.4%15.8%75.9%29.3%57.2%3.6%-1.4%-2.4M-634.7M-3.2M0.467.1248,24222,068324,391455,848