XOP Options History — December 2021

In December 2021, XOP traded between $90.55 and $102.35. ATM implied volatility averaged 44.9%, placing in the 31.3% IV rank vs the trailing year. The 30-day expected move averaged 13.0%. IV traded below realized volatility by 1.1% (HV 20d: 46.0%). Max pain ranged from $87.00 to $96.00. Net GEX was positive for 3 of 22 trading days. Term structure was in contango for 15 of 22 days. Put/call ratio averaged 2.24.

Notable Days

2021-12-20: Highest Volume — 137,043 contracts
2021-12-06: Largest IV drop — 12.1% change
2021-12-03: Highest IV Rank — 80.2%
2021-12-03: Largest Expected Move — 17.6%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$96.98	$90.55	$102.35	$94.89	$96.39
Max Pain	$89.45	$87.00	$96.00	$96.00	$90.00
ATM IV	44.9%	40.0%	56.1%	53.9%	40.0%
Expected Move	13.0%	11.1%	17.6%	17.1%	11.1%
HV 20d	46.0%	37.4%	51.2%	47.6%	37.4%
HV 60d	40.8%	38.9%	43.3%	42.7%	38.9%
IV Rank	31.3%	9.5%	80.2%	70.5%	9.5%
IV Percentile	45.4%	9.1%	98.8%	94.8%	9.1%
Term Structure	0.2%	-1.2%	3.4%	-1.2%	0.4%
VWIV	46.5%	39.9%	61.7%	61.7%	39.9%
Skew 25d	4.2%	2.4%	7.2%	5.0%	2.4%
Skew 10d	8.3%	5.1%	15.0%	11.7%	5.5%
Call IV 25d	43.7%	38.9%	54.3%	52.1%	39.6%
Put IV 25d	47.9%	42.0%	60.4%	57.1%	42.0%
Bid-Ask Spread %	25.52	10.66	44.94	17.91	26.77
Gamma HHI	0.07	0.06	0.09	0.07	0.06
Net GEX	-19.9M	-47.3M	9.1M	-27.4M	-25.2M
Net DEX	-407.8M	-1.23B	450.3M	-180.2M	-219.1M
Net VEX	-9.7M	-11.3M	-8.7M	-11.3M	-8.8M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	2.24	1.34	4.09	1.89	1.46
Total Volume	81,947.273	61,495	137,043	90,429	81,765
Total OI	1,149,804.636	933,799	1,313,749	1,255,086	1,000,525

Daily Data (22 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
2021-12-01	$94.89	$96.00	53.9%	17.1%	47.6%	70.5%	61.7%	5.0%	-1.2%	-27.4M	-180.2M	-11.3M	1.89	17.91	31,313	59,116	402,048	853,038
2021-12-02	$96.63	$96.00	52.2%	16.2%	48.4%	63.1%	60.8%	5.0%	-0.6%	-22.9M	-394.3M	-11.1M	2.94	10.66	22,827	67,182	411,507	856,537
2021-12-03	$94.81	$96.00	56.1%	17.6%	48.6%	80.2%	61.1%	6.2%	0.2%	-28.9M	-186.9M	-11.3M	2.97	22.03	16,517	49,082	413,908	838,749
2021-12-06	$98.26	$87.00	49.3%	13.6%	49.2%	50.4%	49.6%	5.3%	0.3%	-11.4M	-699.2M	-10.2M	2.38	22.22	18,534	44,024	403,273	835,173
2021-12-07	$102.14	$87.00	45.0%	12.9%	51.2%	31.5%	45.6%	2.7%	0.3%	6.2M	-1.22B	-9.7M	2.46	26.32	22,730	55,835	408,590	847,242
2021-12-08	$102.35	$87.00	43.0%	12.7%	51.2%	22.9%	45.8%	3.5%	1.0%	9.1M	-1.23B	-9.6M	2.66	20.63	20,608	54,735	412,912	862,734
2021-12-09	$100.79	$87.00	44.0%	12.5%	48.4%	27.0%	45.5%	3.5%	0.5%	-2.0M	-984.8M	-9.7M	4.09	26.93	17,150	70,098	410,314	857,165
2021-12-10	$101.14	$87.00	41.6%	12.0%	47.7%	16.7%	42.0%	3.2%	0.1%	44.2K	-1.04B	-9.3M	2.04	26.92	28,229	57,729	413,294	858,736
2021-12-13	$97.35	$87.00	43.5%	12.4%	49.3%	24.9%	45.1%	2.9%	-0.4%	-25.1M	-535.1M	-9.4M	2.70	29.44	24,678	66,550	409,000	855,685
2021-12-14	$95.24	$87.00	44.8%	12.7%	49.3%	30.6%	44.4%	7.2%	-0.6%	-37.0M	-220.6M	-9.8M	2.83	32.63	17,913	50,645	414,697	866,888
2021-12-15	$95.60	$87.00	41.3%	12.5%	49.4%	15.6%	44.6%	4.9%	3.4%	-37.4M	-261.8M	-9.6M	2.03	31.66	36,490	74,193	415,348	871,239
2021-12-16	$94.72	$87.00	45.7%	12.9%	47.5%	34.5%	46.3%	5.5%	-0.9%	-42.0M	-130.2M	-9.7M	2.10	44.94	28,147	59,219	422,840	889,745
2021-12-17	$93.63	$87.00	47.1%	13.5%	47.3%	40.6%	47.3%	4.6%	-0.2%	-47.3M	60.5M	-9.8M	1.59	27.50	41,925	66,791	419,691	894,058
2021-12-20	$90.55	$90.00	50.0%	14.3%	44.8%	53.6%	50.4%	5.8%	0.1%	-34.3M	450.3M	-10.0M	3.88	30.42	28,055	108,988	292,384	641,415
2021-12-21	$94.93	$90.00	45.2%	13.0%	47.0%	32.5%	45.6%	4.5%	0.2%	-27.5M	4.3M	-10.2M	1.78	25.23	27,484	48,935	298,401	680,121
2021-12-22	$95.84	$90.00	41.7%	12.0%	45.8%	17.1%	41.6%	4.0%	0.5%	-19.2M	-148.2M	-9.6M	1.54	23.04	27,896	42,853	303,635	660,201
2021-12-23	$95.71	$90.00	40.2%	11.5%	45.1%	10.6%	40.0%	3.0%	0.5%	-16.9M	-151.4M	-9.4M	1.40	23.11	27,237	38,118	304,949	663,080
2021-12-27	$98.97	$90.00	40.8%	11.6%	39.9%	13.3%	40.5%	4.2%	-0.2%	-5.9M	-566.5M	-8.7M	1.34	20.85	31,634	42,540	305,036	656,127
2021-12-28	$99.07	$90.00	41.1%	11.7%	39.7%	14.5%	42.3%	2.9%	0.7%	-4.7M	-586.4M	-8.9M	1.77	19.92	24,577	43,467	314,060	661,078
2021-12-29	$98.16	$90.00	41.1%	11.5%	39.3%	14.5%	42.2%	3.5%	0.2%	-12.0M	-473.6M	-9.0M	2.08	26.61	19,966	41,529	314,601	667,045
2021-12-30	$96.38	$90.00	41.2%	11.6%	38.0%	14.8%	41.4%	2.5%	0.1%	-25.1M	-256.9M	-8.9M	1.45	25.72	26,702	38,834	316,998	671,635
2021-12-31	$96.39	$90.00	40.0%	11.1%	37.4%	9.5%	39.9%	2.4%	0.4%	-25.2M	-219.1M	-8.8M	1.46	26.77	33,277	48,488	324,328	676,197