XOP Options History — March 2023

In March 2023, XOP traded between $116.53 and $140.74. ATM implied volatility averaged 40.5%, placing in the 23.1% IV rank vs the trailing year. The 30-day expected move averaged 11.5%. IV traded above realized volatility by 2.3% (HV 20d: 38.1%). Max pain ranged from $130.00 to $137.00. Net GEX was positive for 1 of 23 trading days. Term structure was in contango for 7 of 23 days. Put/call ratio averaged 2.28.

Notable Days

  • 2023-03-15: Highest Volume — 162,793 contracts
  • 2023-03-15: Largest IV spike — 17.8% change
  • 2023-03-15: Highest IV Rank — 59.8%
  • 2023-03-15: Largest Expected Move — 13.8%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$126.79$116.53$140.74$136.47$127.11
Max Pain$133.04$130.00$137.00$135.00$130.00
ATM IV40.5%34.8%50.4%37.0%36.1%
Expected Move11.5%9.6%13.8%10.6%10.0%
HV 20d38.1%31.5%41.6%37.7%39.7%
HV 60d36.3%34.6%38.4%36.7%34.7%
IV Rank23.1%2.1%59.8%9.6%6.9%
IV Percentile22.1%0.8%70.6%6.7%6.3%
Term Structure-0.2%-2.2%1.2%-0.1%0.9%
VWIV40.9%35.1%50.1%41.2%35.1%
Skew 25d6.7%4.5%9.7%5.9%6.0%
Skew 10d12.7%8.4%18.7%10.4%12.1%
Call IV 25d37.5%32.7%45.8%34.4%33.1%
Put IV 25d44.2%37.3%54.8%40.2%39.1%
Bid-Ask Spread %7.843.3415.387.944.47
Gamma HHI0.060.050.070.050.06
Net GEX-36.9M-83.9M2.4M-22.2M-16.9M
Net DEX918.2M-126.4M2.28B280.0M390.5M
Net VEX-7.9M-8.5M-7.2M-7.8M-8.4M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio2.280.466.124.450.75
Total Volume47,944.69618,366162,79352,66434,352
Total OI514,959.87418,558612,520517,660480,946

Daily Data (23 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2023-03-01$136.47$135.0037.0%10.6%37.7%9.6%41.2%5.9%-0.1%-22.2M280.0M-7.8M4.457.949,66243,002176,950340,710
2023-03-02$138.24$135.0036.0%10.1%37.8%6.2%36.2%5.1%-0.2%-12.1M120.4M-7.8M1.948.066,24312,123179,354353,910
2023-03-03$140.74$135.0034.8%9.6%36.8%2.1%35.3%4.5%-0.5%2.4M-126.4M-7.6M3.336.8822,76275,796180,155359,645
2023-03-06$138.31$136.0035.0%10.0%37.5%2.8%35.6%5.1%0.1%-23.4M209.1M-7.7M3.163.346,39320,228179,759343,411
2023-03-07$136.09$137.0035.6%10.2%37.0%4.8%36.5%4.9%-0.0%-34.9M418.5M-7.7M3.754.877,30427,383182,800347,487
2023-03-08$133.69$137.0036.1%10.2%34.8%6.3%36.2%5.1%-0.2%-52.9M700.0M-7.8M3.654.3714,10551,415186,119358,209
2023-03-09$130.99$137.0039.4%11.2%35.4%18.2%38.7%5.2%-0.4%-67.9M1.04B-8.1M3.397.8912,74843,179190,708384,921
2023-03-10$127.51$137.0041.1%11.5%36.2%25.6%40.0%5.3%-0.6%-71.6M1.42B-8.1M2.676.8511,44830,597196,636389,572
2023-03-13$124.54$136.0042.8%12.1%31.5%31.9%42.9%7.2%-0.7%-74.3M1.61B-7.6M3.4212.0816,62356,886191,540371,141
2023-03-14$124.46$135.0042.8%12.1%31.5%31.6%41.9%7.3%-0.5%-78.2M1.62B-7.6M2.8910.5213,23238,182199,159379,641
2023-03-15$116.53$135.0050.4%13.8%37.6%59.8%47.6%9.0%-2.2%-79.6M2.28B-7.2M6.126.8722,850139,943205,501393,724
2023-03-16$120.16$132.0045.0%12.7%40.0%40.0%46.9%8.4%-1.0%-83.9M1.87B-7.6M0.9614.3120,43619,671210,430393,210
2023-03-17$117.42$132.0048.4%13.7%40.4%52.5%50.1%9.7%-1.1%-44.0M2.04B-7.5M1.324.8217,95423,739222,135390,385
2023-03-20$119.93$131.0044.5%12.7%38.8%37.9%45.2%7.9%-0.0%-30.6M1.05B-7.8M0.983.8018,59118,151145,820272,738
2023-03-21$124.13$130.0040.9%11.7%41.1%24.7%43.8%6.8%-0.1%-22.6M734.6M-8.1M2.664.9815,88742,236154,749276,299
2023-03-22$121.34$130.0041.6%11.9%41.6%27.4%41.6%7.0%0.6%-27.0M934.6M-8.1M0.4615.3823,18510,561162,921283,454
2023-03-23$118.66$130.0044.1%12.7%39.2%36.6%44.2%8.4%-0.1%-33.4M1.12B-7.9M1.5615.2111,24417,561165,809284,467
2023-03-24$119.66$130.0043.4%12.4%39.3%33.9%40.8%8.1%-0.2%-31.6M1.07B-8.0M0.5511.0919,39410,677168,194289,833
2023-03-27$123.44$130.0040.5%11.6%41.1%23.2%42.4%7.0%0.4%-15.9M714.9M-8.1M1.166.7814,24116,541168,928276,340
2023-03-28$124.69$130.0039.9%11.4%41.4%21.2%42.2%6.8%0.8%-10.2M601.6M-8.3M1.455.6316,90824,589177,324284,152
2023-03-29$126.08$130.0038.4%10.9%40.7%15.6%38.3%6.7%0.6%-9.1M504.7M-8.5M0.816.7713,02910,571181,547289,610
2023-03-30$126.00$130.0037.4%10.5%40.2%11.7%37.2%6.4%1.2%-9.3M518.0M-8.4M0.987.4910,67410,432183,536290,198
2023-03-31$127.11$130.0036.1%10.0%39.7%6.9%35.1%6.0%0.9%-16.9M390.5M-8.4M0.754.4719,60914,743189,117291,829