XOP Options History — January 2023

In January 2023, XOP traded between $127.98 and $145.00. ATM implied volatility averaged 38.7%, placing in the 9.0% IV rank vs the trailing year. The 30-day expected move averaged 11.2%. IV traded above realized volatility by 0.3% (HV 20d: 38.4%). Max pain ranged from $135.00 to $140.00. Net GEX was positive for 8 of 20 trading days. Term structure was in contango for 9 of 20 days. Put/call ratio averaged 1.86.

Notable Days

  • 2023-01-27: Highest Volume — 60,674 contracts
  • 2023-01-12: Largest IV drop — 9.0% change
  • 2023-01-03: Highest IV Rank — 33.4%
  • 2023-01-03: Largest Expected Move — 13.2%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$137.45$127.98$145.00$127.98$140.72
Max Pain$136.07$135.00$140.00$135.00$140.00
ATM IV38.7%34.2%46.8%46.8%35.9%
Expected Move11.2%10.0%13.2%13.2%10.6%
HV 20d38.4%29.9%44.9%44.9%32.0%
HV 60d40.0%39.3%41.3%41.3%39.6%
IV Rank9.0%0.0%33.4%33.4%5.9%
IV Percentile7.4%0.0%44.8%44.8%2.0%
Term Structure-0.0%-0.7%0.7%-0.3%0.2%
VWIV39.4%34.1%46.8%46.5%40.5%
Skew 25d5.5%4.3%6.6%6.6%5.7%
Skew 10d10.5%8.0%13.0%13.0%11.8%
Call IV 25d36.0%31.6%43.7%43.7%33.2%
Put IV 25d41.5%36.7%50.3%50.3%38.9%
Bid-Ask Spread %5.002.5917.416.805.87
Gamma HHI0.070.050.080.070.05
Net GEX-8.8M-32.2M16.7M-29.6M-9.5M
Net DEX116.8M-422.6M792.4M792.4M104.1M
Net VEX-6.7M-6.9M-6.4M-6.8M-6.9M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.860.197.954.111.18
Total Volume27,968.257,44260,67447,7627,442
Total OI571,139.1345,814707,691626,245423,483

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2023-01-03$127.98$135.0046.8%13.2%44.9%33.4%46.5%6.6%-0.3%-29.6M792.4M-6.8M4.116.809,35138,411227,115399,130
2023-01-04$128.00$135.0046.0%13.0%41.7%30.2%44.8%6.2%-0.1%-32.2M792.1M-6.9M1.9717.418,69217,122229,942404,591
2023-01-05$128.97$137.0045.0%13.0%41.1%26.0%46.8%5.7%-0.2%-31.2M713.7M-6.8M0.795.9520,80616,452233,320408,703
2023-01-06$131.88$136.0041.6%12.1%42.0%12.7%44.0%5.3%0.2%-30.0M535.4M-6.8M2.523.929,76924,601235,616413,803
2023-01-09$132.95$135.0042.7%12.3%41.3%16.9%43.8%6.2%0.3%-24.7M438.9M-6.7M1.722.7310,06217,267234,857419,505
2023-01-10$133.11$135.0041.4%11.9%41.0%11.6%41.8%5.4%0.2%-24.7M430.0M-6.7M3.182.598,68427,577240,270420,364
2023-01-11$134.09$135.0041.0%11.8%38.9%10.2%41.9%5.6%0.1%-22.2M355.1M-6.6M1.223.164,5765,561242,359442,631
2023-01-12$138.47$135.0037.3%10.9%40.1%0.0%38.6%4.3%0.7%-4.5M-48.8M-6.6M0.703.9823,88616,610243,780442,955
2023-01-13$139.36$135.0035.6%10.4%40.0%0.0%35.6%5.0%-0.1%6.4M-202.3M-6.8M3.413.998,50328,961258,449445,452
2023-01-17$139.56$135.0036.1%10.4%40.0%1.9%37.7%4.9%-0.1%-2.7M-179.2M-6.4M1.712.717,64613,111254,716432,983
2023-01-18$137.39$135.0037.6%10.8%39.9%7.0%36.8%5.4%-0.7%-11.5M31.5M-6.5M0.833.8115,91713,180257,015436,640
2023-01-19$140.05$135.0037.3%10.7%39.5%6.0%37.2%5.5%-0.4%5.5M-268.3M-6.6M0.924.137,6747,067264,460439,024
2023-01-20$141.24$135.0036.6%10.5%39.3%3.6%36.6%5.3%-0.5%3.6M-422.6M-6.5M0.433.4318,8068,139265,560442,131
2023-01-23$143.45$136.0036.4%10.6%38.9%2.6%36.9%5.8%-0.1%6.4M-161.5M-6.5M1.214.078,2429,991141,812204,002
2023-01-24$141.93$136.0035.8%10.4%36.7%0.7%34.1%5.5%-0.1%1.8M-53.1M-6.5M0.195.0919,6023,645145,289209,519
2023-01-25$141.76$136.0034.9%10.2%34.1%0.0%35.1%5.5%0.1%5.0M-110.2M-6.6M0.955.838,0617,680159,692214,780
2023-01-26$145.00$136.5034.2%10.0%34.9%0.0%34.8%5.2%0.1%16.7M-344.9M-6.8M0.714.087,3925,229163,644219,635
2023-01-27$143.88$139.0034.6%10.1%29.9%1.4%36.0%5.2%0.1%15.5M-276.1M-6.7M7.956.316,78253,892165,130221,938
2023-01-30$139.28$140.0037.1%11.1%31.9%9.8%37.8%6.0%-0.0%-13.5M209.2M-6.9M1.544.1412,96420,012158,087260,400
2023-01-31$140.72$140.0035.9%10.6%32.0%5.9%40.5%5.7%0.2%-9.5M104.1M-6.9M1.185.873,4154,027160,510262,973