XOP Options History — March 2021

In March 2021, XOP traded between $78.19 and $91.16. ATM implied volatility averaged 50.0%, placing in the 32.9% IV rank vs the trailing year. The 30-day expected move averaged 14.5%. IV traded above realized volatility by 6.6% (HV 20d: 43.4%). Max pain ranged from $65.00 to $85.00. Net GEX was positive for 22 of 23 trading days. Term structure was in contango for 7 of 23 days. Put/call ratio averaged 0.74.

Notable Days

2021-03-19: Highest Volume — 91,793 contracts
2021-03-08: Largest IV spike — 9.2% change
2021-03-30: Highest IV Rank — 49.5%
2021-03-11: Largest Expected Move — 15.1%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$84.75	$78.19	$91.16	$82.90	$81.57
Max Pain	$81.00	$65.00	$85.00	$65.00	$80.00
ATM IV	50.0%	46.2%	52.9%	50.5%	46.2%
Expected Move	14.5%	13.5%	15.1%	15.0%	13.5%
HV 20d	43.4%	39.6%	48.5%	42.2%	46.2%
HV 60d	45.0%	42.7%	47.1%	47.1%	46.0%
IV Rank	32.9%	25.7%	49.5%	27.2%	48.0%
IV Percentile	27.0%	7.1%	48.4%	27.4%	7.1%
Term Structure	-0.3%	-2.7%	0.8%	-0.6%	-0.3%
VWIV	51.2%	48.3%	54.3%	52.8%	48.5%
Skew 25d	1.7%	-0.5%	4.9%	0.4%	1.5%
Skew 10d	3.6%	-3.5%	8.9%	0.8%	3.3%
Call IV 25d	50.2%	46.6%	54.0%	51.2%	46.6%
Put IV 25d	51.9%	48.1%	55.6%	51.6%	48.1%
Bid-Ask Spread %	17.86	7.51	33.34	7.51	19.28
Gamma HHI	0.10	0.06	0.24	0.10	0.09
Net GEX	28.1M	-8.5M	46.6M	30.4M	18.5M
Net DEX	-1.69B	-2.54B	-682.6M	-1.76B	-966.8M
Net VEX	-7.4M	-8.1M	-7.0M	-7.3M	-8.1M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.74	0.15	1.96	0.81	1.96
Total Volume	39,201.087	12,559	91,793	25,343	22,828
Total OI	764,796.391	582,784	911,401	741,942	766,526

Daily Data (23 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
2021-03-01	$82.90	$65.00	50.5%	15.0%	42.2%	27.2%	52.8%	0.4%	-0.6%	30.4M	-1.76B	-7.3M	0.81	7.51	13,965	11,378	385,161	356,781
2021-03-02	$82.66	$65.00	49.5%	14.4%	42.3%	26.6%	51.3%	1.6%	-1.2%	27.7M	-1.72B	-7.4M	0.31	7.57	19,354	6,006	387,518	364,992
2021-03-03	$84.62	$67.00	50.2%	14.5%	42.4%	27.0%	51.7%	1.8%	-1.1%	32.7M	-1.94B	-7.3M	0.15	9.00	70,832	10,564	397,637	369,101
2021-03-04	$86.48	$81.00	52.1%	14.6%	40.7%	28.0%	51.4%	4.0%	-2.7%	42.0M	-2.19B	-7.6M	0.48	14.37	38,225	18,212	430,053	375,653
2021-03-05	$89.66	$82.00	47.9%	13.7%	41.5%	25.7%	48.3%	1.0%	-0.6%	46.6M	-2.51B	-7.3M	0.47	13.51	37,872	17,961	429,013	383,419
2021-03-08	$89.00	$83.00	52.3%	14.9%	42.1%	28.1%	52.6%	1.9%	0.3%	42.4M	-2.35B	-7.5M	0.89	24.75	14,083	12,594	423,486	374,092
2021-03-09	$86.32	$83.00	51.1%	14.8%	40.2%	27.5%	52.1%	-0.5%	0.6%	38.0M	-2.08B	-7.5M	0.30	15.21	14,978	4,498	425,579	383,778
2021-03-10	$89.62	$83.00	51.6%	14.8%	40.7%	27.8%	52.6%	1.0%	0.1%	42.8M	-2.42B	-7.4M	1.01	20.23	15,543	15,756	428,087	386,299
2021-03-11	$91.16	$84.00	52.9%	15.1%	40.7%	28.5%	53.6%	-0.1%	-0.5%	42.3M	-2.54B	-7.3M	0.47	22.86	18,909	8,956	422,215	389,230
2021-03-12	$90.37	$85.00	52.5%	15.0%	39.9%	28.3%	53.1%	-0.3%	0.0%	44.3M	-2.48B	-7.2M	0.99	26.72	7,664	7,587	427,129	392,358
2021-03-15	$89.72	$85.00	52.5%	15.0%	39.6%	28.2%	54.3%	0.3%	-0.6%	45.4M	-2.39B	-7.0M	0.79	19.53	11,289	8,918	423,946	387,446
2021-03-16	$87.13	$85.00	49.5%	14.2%	40.2%	26.6%	50.4%	0.7%	-0.1%	45.0M	-2.11B	-7.1M	0.54	15.35	10,642	5,780	429,307	394,235
2021-03-17	$87.08	$85.00	47.9%	13.7%	40.2%	25.8%	48.5%	1.0%	-0.3%	46.3M	-2.09B	-7.0M	1.36	33.34	5,319	7,240	433,192	397,951
2021-03-18	$81.23	$85.00	52.0%	14.9%	45.5%	28.0%	52.2%	2.1%	0.3%	21.2M	-1.47B	-7.1M	1.14	26.94	21,247	24,213	441,873	457,113
2021-03-19	$83.83	$85.00	49.6%	14.2%	46.1%	29.8%	50.1%	1.8%	-0.3%	-8.5M	-1.72B	-7.0M	0.83	17.94	50,289	41,504	445,985	465,416
2021-03-22	$82.51	$85.00	48.1%	13.8%	45.0%	35.4%	48.9%	2.0%	-0.7%	10.9M	-961.1M	-7.2M	0.36	17.97	16,869	6,101	295,970	286,814
2021-03-23	$78.19	$85.00	50.0%	14.4%	48.5%	36.7%	51.1%	2.8%	-0.5%	5.3M	-682.6M	-7.1M	1.21	9.32	27,992	33,958	297,447	290,709
2021-03-24	$79.83	$84.00	49.2%	14.2%	47.2%	40.0%	49.6%	3.5%	-0.2%	6.1M	-761.3M	-7.6M	0.74	18.72	36,347	26,878	317,360	318,537
2021-03-25	$80.74	$84.00	49.1%	14.5%	46.3%	40.7%	50.9%	4.9%	0.8%	17.6M	-847.5M	-7.9M	0.34	11.42	37,826	12,778	338,433	333,059
2021-03-26	$82.78	$80.00	48.1%	14.2%	46.9%	44.5%	50.2%	3.5%	-0.3%	20.0M	-1.13B	-8.0M	0.86	19.38	24,518	21,115	361,131	337,398
2021-03-29	$81.13	$81.00	50.0%	14.9%	46.8%	47.7%	53.6%	2.9%	0.0%	16.8M	-913.9M	-8.1M	0.35	21.27	36,037	12,648	353,565	346,281
2021-03-30	$80.76	$81.00	47.5%	14.1%	46.9%	49.5%	50.0%	1.9%	-0.1%	13.1M	-860.7M	-8.1M	0.65	18.53	20,856	13,496	382,428	356,614
2021-03-31	$81.57	$80.00	46.2%	13.5%	46.2%	48.0%	48.5%	1.5%	-0.3%	18.5M	-966.8M	-8.1M	1.96	19.28	7,722	15,106	399,530	366,996