XOP Options History — March 2022

In March 2022, XOP traded between $118.69 and $138.33. ATM implied volatility averaged 50.4%, placing in the 53.0% IV rank vs the trailing year. The 30-day expected move averaged 14.8%. IV traded above realized volatility by 10.8% (HV 20d: 39.6%). Max pain ranged from $105.00 to $125.00. Net GEX was positive for 23 of 23 trading days. Term structure was in contango for 8 of 23 days. Put/call ratio averaged 1.23.

Notable Days

2022-03-01: Highest Volume — 111,859 contracts
2022-03-07: Largest IV spike — 15.3% change
2022-03-07: Highest IV Rank — 100.0%
2022-03-08: Largest Expected Move — 20.1%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$127.27	$118.69	$138.33	$118.75	$134.94
Max Pain	$113.65	$105.00	$125.00	$105.00	$125.00
ATM IV	50.4%	42.8%	63.8%	54.8%	43.0%
Expected Move	14.8%	12.4%	20.1%	16.6%	12.5%
HV 20d	39.6%	35.1%	43.5%	37.2%	41.2%
HV 60d	40.6%	39.2%	41.7%	40.1%	40.2%
IV Rank	53.0%	19.1%	100.0%	93.1%	20.0%
IV Percentile	78.5%	42.1%	100.0%	99.6%	46.4%
Term Structure	-0.4%	-1.9%	0.9%	-0.3%	0.9%
VWIV	52.7%	43.3%	72.3%	62.6%	43.3%
Skew 25d	2.1%	0.3%	5.7%	5.7%	1.2%
Skew 10d	4.9%	1.6%	12.6%	12.6%	3.1%
Call IV 25d	50.3%	42.8%	63.4%	53.0%	42.8%
Put IV 25d	52.4%	43.8%	65.8%	58.7%	44.1%
Bid-Ask Spread %	9.58	5.71	15.34	12.47	10.62
Gamma HHI	0.08	0.05	0.41	0.05	0.09
Net GEX	18.5M	2.3M	75.8M	2.3M	17.5M
Net DEX	-1.24B	-1.71B	-843.7M	-956.0M	-1.18B
Net VEX	-8.2M	-8.7M	-7.7M	-8.2M	-8.1M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	1.23	0.27	2.78	2.78	1.03
Total Volume	60,986.783	35,055	111,859	111,859	55,584
Total OI	709,527.652	490,958	856,436	795,838	556,914

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
2022-03-01	$118.75	$105.00	54.8%	16.6%	37.2%	93.1%	62.6%	5.7%	-0.3%	2.3M	-956.0M	-8.2M	2.78	12.47	29,590	82,269	212,127	583,711
2022-03-02	$122.29	$108.00	51.6%	15.4%	35.6%	75.4%	56.2%	4.9%	-0.4%	14.3M	-1.25B	-7.9M	1.50	8.00	24,711	37,006	221,770	580,566
2022-03-03	$119.41	$109.00	52.6%	15.8%	37.0%	81.1%	54.4%	4.9%	-0.8%	12.1M	-1.01B	-8.2M	0.27	9.84	68,363	18,120	226,445	581,733
2022-03-04	$124.90	$109.00	55.3%	16.5%	39.1%	95.7%	58.5%	4.6%	-0.6%	21.5M	-1.48B	-8.3M	0.55	14.07	52,750	29,060	254,676	583,720
2022-03-07	$125.32	$109.00	63.8%	20.0%	38.7%	100.0%	71.3%	3.1%	-1.9%	17.4M	-1.43B	-8.6M	1.22	8.62	36,569	44,484	257,446	511,018
2022-03-08	$127.18	$110.00	62.7%	20.1%	38.4%	95.9%	72.3%	0.6%	-1.5%	17.6M	-1.57B	-8.7M	0.64	15.34	56,090	35,814	270,891	534,819
2022-03-09	$125.62	$110.00	57.3%	18.2%	35.2%	75.0%	64.7%	2.0%	-0.8%	20.0M	-1.44B	-8.6M	1.31	12.91	24,947	32,723	290,595	539,249
2022-03-10	$128.21	$110.00	56.0%	17.0%	35.1%	70.0%	59.6%	1.6%	-1.2%	27.7M	-1.71B	-8.4M	2.20	12.57	12,024	26,401	295,657	546,221
2022-03-11	$126.60	$110.00	55.8%	16.6%	35.7%	69.2%	59.0%	1.4%	-0.9%	21.3M	-1.56B	-8.4M	1.51	5.71	14,145	21,380	297,793	548,597
2022-03-14	$120.07	$114.00	55.7%	15.1%	39.1%	68.8%	53.1%	3.4%	-0.9%	9.8M	-987.6M	-8.4M	1.82	8.15	15,554	28,269	279,832	531,754
2022-03-15	$118.69	$114.00	52.8%	14.5%	37.9%	57.6%	51.5%	3.3%	-1.0%	6.4M	-867.1M	-8.4M	1.00	7.67	33,121	33,129	282,564	538,510
2022-03-16	$119.17	$114.00	48.9%	13.6%	37.4%	42.7%	47.8%	3.3%	-0.8%	7.0M	-938.9M	-8.0M	1.11	11.29	18,284	20,303	289,362	554,402
2022-03-17	$126.12	$114.00	48.2%	13.5%	41.7%	39.9%	48.0%	1.5%	-1.1%	29.9M	-1.61B	-7.7M	2.08	7.94	20,280	42,173	288,886	557,938
2022-03-18	$125.29	$114.00	46.1%	12.9%	42.0%	31.9%	45.6%	1.1%	-1.1%	75.8M	-1.52B	-7.8M	0.62	8.63	37,116	23,012	290,790	565,646
2022-03-21	$129.02	$114.00	47.1%	13.2%	42.0%	35.7%	47.4%	0.3%	-0.1%	13.0M	-911.3M	-7.9M	0.78	7.58	40,385	31,620	193,039	297,919
2022-03-22	$128.28	$114.00	44.6%	12.7%	41.6%	26.1%	45.1%	0.6%	0.2%	10.3M	-843.7M	-8.1M	1.17	7.86	22,124	25,811	202,918	309,432
2022-03-23	$130.89	$115.00	45.0%	13.0%	41.7%	27.7%	45.6%	0.4%	0.5%	16.3M	-1.02B	-8.1M	1.35	7.61	27,353	36,893	206,398	314,754
2022-03-24	$132.35	$116.00	45.1%	13.0%	41.7%	28.1%	46.1%	0.6%	0.1%	18.5M	-1.09B	-8.4M	1.47	7.95	25,725	37,771	211,611	329,493
2022-03-25	$138.33	$116.00	44.2%	12.7%	43.5%	24.6%	45.3%	0.4%	0.5%	17.7M	-1.45B	-8.0M	0.80	7.66	36,201	28,907	210,784	335,115
2022-03-28	$134.51	$120.00	43.7%	12.6%	43.3%	22.7%	45.0%	0.9%	0.4%	15.2M	-1.15B	-8.0M	1.13	7.88	19,648	22,116	210,559	326,985
2022-03-29	$134.95	$120.00	42.8%	12.4%	43.0%	19.1%	44.2%	0.8%	0.7%	16.2M	-1.19B	-8.0M	1.02	9.40	19,696	20,120	213,072	331,065
2022-03-30	$136.21	$124.00	42.9%	12.4%	42.2%	19.6%	44.4%	1.1%	0.7%	18.4M	-1.27B	-8.0M	1.05	10.47	17,059	17,996	215,045	337,315
2022-03-31	$134.94	$125.00	43.0%	12.5%	41.2%	20.0%	43.3%	1.2%	0.9%	17.5M	-1.18B	-8.1M	1.03	10.62	27,397	28,187	218,498	338,416