XOP Options History — September 2021

In September 2021, XOP traded between $82.06 and $98.92. ATM implied volatility averaged 42.2%, placing in the 15.2% IV rank vs the trailing year. The 30-day expected move averaged 12.2%. IV traded below realized volatility by 1.2% (HV 20d: 43.4%). Max pain ranged from $80.00 to $86.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 11 of 21 days. Put/call ratio averaged 1.00.

Notable Days

2021-09-15: Highest Volume — 217,876 contracts
2021-09-20: Largest IV spike — 16.6% change
2021-09-20: Highest IV Rank — 42.1%
2021-09-20: Largest Expected Move — 14.6%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$88.52	$82.06	$98.92	$82.06	$97.19
Max Pain	$81.57	$80.00	$86.00	$81.00	$86.00
ATM IV	42.2%	38.1%	49.9%	39.1%	47.9%
Expected Move	12.2%	11.0%	14.6%	11.0%	13.9%
HV 20d	43.4%	40.7%	46.5%	41.1%	46.3%
HV 60d	43.4%	41.5%	46.1%	41.5%	44.9%
IV Rank	15.2%	1.0%	42.1%	4.5%	35.4%
IV Percentile	21.0%	0.4%	62.3%	4.4%	51.2%
Term Structure	0.0%	-0.6%	0.5%	0.5%	0.5%
VWIV	43.7%	38.7%	52.0%	38.7%	50.5%
Skew 25d	3.7%	0.6%	6.9%	3.1%	3.8%
Skew 10d	8.0%	3.5%	14.0%	7.0%	10.5%
Call IV 25d	41.8%	37.6%	47.7%	38.7%	47.3%
Put IV 25d	45.4%	39.9%	54.5%	41.7%	51.1%
Bid-Ask Spread %	7.45	4.28	13.71	5.46	13.71
Gamma HHI	0.09	0.06	0.17	0.06	0.08
Net GEX	21.3M	1.6M	50.2M	7.1M	19.0M
Net DEX	-993.3M	-2.00B	-308.2M	-331.3M	-1.65B
Net VEX	-11.1M	-12.7M	-10.1M	-10.9M	-12.7M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	1.00	0.20	4.33	1.35	1.71
Total Volume	61,056.381	16,464	217,876	19,408	56,966
Total OI	1,037,120.333	929,661	1,175,208	1,028,150	1,124,306

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
2021-09-01	$82.06	$81.00	39.1%	11.0%	41.1%	4.5%	38.7%	3.1%	0.5%	7.1M	-331.3M	-10.9M	1.35	5.46	8,244	11,164	441,861	586,289
2021-09-02	$84.76	$80.00	38.6%	11.3%	41.9%	2.8%	39.8%	3.3%	0.3%	24.1M	-730.6M	-10.9M	0.81	5.55	21,613	17,411	447,843	593,761
2021-09-03	$84.38	$80.00	38.1%	11.1%	41.9%	1.0%	39.9%	2.3%	0.4%	18.3M	-652.7M	-11.0M	1.06	6.45	17,975	19,133	451,735	598,678
2021-09-07	$84.44	$80.00	39.1%	11.2%	41.5%	4.6%	40.2%	3.5%	-0.2%	14.9M	-592.1M	-10.6M	0.50	5.91	13,538	6,768	436,349	595,445
2021-09-08	$83.38	$80.00	39.4%	11.3%	40.7%	5.7%	41.1%	3.3%	-0.1%	8.8M	-432.2M	-10.7M	0.78	4.71	9,250	7,214	441,127	606,012
2021-09-09	$84.75	$80.00	40.2%	11.4%	41.1%	8.2%	41.2%	4.0%	-0.3%	19.4M	-620.7M	-10.5M	0.72	5.51	14,026	10,130	445,068	607,647
2021-09-10	$83.78	$80.00	39.8%	11.4%	41.4%	6.8%	41.3%	4.4%	-0.0%	13.2M	-479.0M	-10.6M	0.98	13.46	9,773	9,601	447,573	609,972
2021-09-13	$87.08	$81.00	40.7%	11.7%	41.4%	10.2%	40.4%	4.3%	-0.6%	28.6M	-951.2M	-10.1M	0.20	4.28	65,842	13,222	440,708	604,924
2021-09-14	$84.75	$80.00	41.4%	11.8%	41.0%	12.4%	40.8%	4.5%	0.3%	20.7M	-614.7M	-10.2M	0.37	7.47	33,823	12,631	443,605	605,982
2021-09-15	$89.98	$80.00	42.4%	12.2%	45.1%	16.2%	42.5%	3.9%	-0.4%	44.8M	-1.45B	-10.3M	1.59	6.44	84,274	133,602	465,852	611,746
2021-09-16	$89.12	$81.00	42.3%	12.1%	44.4%	15.7%	42.5%	3.0%	-0.5%	50.2M	-1.31B	-10.4M	0.42	5.11	25,809	10,889	466,210	616,393
2021-09-17	$87.94	$81.00	42.8%	12.3%	41.2%	17.3%	45.1%	3.3%	-0.2%	24.2M	-1.11B	-11.2M	0.60	7.89	20,111	12,159	498,776	676,432
2021-09-20	$83.91	$82.00	49.9%	14.6%	45.9%	42.1%	50.6%	6.9%	-0.5%	1.6M	-308.2M	-11.8M	0.22	5.85	64,780	14,319	355,600	574,061
2021-09-21	$84.99	$82.00	46.0%	13.3%	43.1%	28.6%	48.5%	6.0%	-0.2%	5.4M	-416.7M	-11.7M	1.30	5.98	14,159	18,470	362,392	579,965
2021-09-22	$88.22	$82.00	42.1%	12.3%	43.7%	15.2%	43.9%	0.6%	0.1%	18.6M	-880.9M	-11.9M	0.91	10.52	18,195	16,504	400,189	585,805
2021-09-23	$91.80	$82.00	40.3%	11.6%	45.2%	8.6%	42.2%	3.4%	0.0%	24.1M	-1.36B	-11.2M	0.43	5.73	70,247	30,510	389,303	590,034
2021-09-24	$92.67	$83.00	40.0%	11.4%	44.4%	7.7%	42.1%	5.3%	0.3%	24.9M	-1.49B	-11.2M	4.33	7.07	11,860	51,307	400,439	597,055
2021-09-27	$98.92	$83.00	42.2%	12.3%	46.5%	15.4%	44.8%	2.4%	0.4%	31.7M	-2.00B	-11.0M	0.80	5.13	111,239	88,982	387,437	594,827
2021-09-28	$97.68	$84.00	46.5%	13.6%	46.3%	30.4%	52.0%	2.4%	0.1%	26.1M	-1.81B	-11.8M	0.74	12.54	57,855	43,002	391,495	629,147
2021-09-29	$97.16	$85.00	46.6%	13.6%	46.5%	30.7%	50.5%	3.8%	0.5%	21.2M	-1.68B	-12.1M	1.08	11.65	12,290	13,297	403,962	673,522
2021-09-30	$97.19	$86.00	47.9%	13.9%	46.3%	35.4%	50.5%	3.8%	0.5%	19.0M	-1.65B	-12.7M	1.71	13.71	21,015	35,951	428,810	695,496