XOP Options History — May 2023

In May 2023, XOP traded between $116.16 and $126.13. ATM implied volatility averaged 36.2%, placing in the 15.6% IV rank vs the trailing year. The 30-day expected move averaged 10.6%. IV traded above realized volatility by 2.7% (HV 20d: 33.5%). Max pain ranged from $120.00 to $130.00. Net GEX was positive for 0 of 22 trading days. Term structure was in contango for 14 of 22 days. Put/call ratio averaged 1.86.

Notable Days

  • 2023-05-03: Highest Volume — 90,763 contracts
  • 2023-05-05: Largest IV drop — 12.9% change
  • 2023-05-04: Highest IV Rank — 30.1%
  • 2023-05-04: Largest Expected Move — 11.9%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$121.07$116.16$126.13$126.13$118.32
Max Pain$125.95$120.00$130.00$120.00$125.00
ATM IV36.2%32.6%40.5%32.6%37.1%
Expected Move10.6%9.4%11.9%9.4%11.1%
HV 20d33.5%28.0%36.7%34.8%28.0%
HV 60d36.3%35.2%38.0%36.8%35.2%
IV Rank15.6%3.5%30.1%3.5%18.7%
IV Percentile14.6%1.6%27.8%1.6%23.0%
Term Structure0.3%-0.9%1.4%0.8%-0.7%
VWIV36.0%27.4%39.9%35.1%36.2%
Skew 25d6.8%5.5%7.8%5.9%6.8%
Skew 10d13.3%11.0%15.3%12.1%13.0%
Call IV 25d33.4%30.0%36.9%30.0%34.5%
Put IV 25d40.1%35.9%44.7%35.9%41.2%
Bid-Ask Spread %5.573.359.314.193.85
Gamma HHI0.060.050.100.070.10
Net GEX-19.9M-31.6M-623.1K-12.1M-29.4M
Net DEX646.4M177.7M1.17B317.1M813.1M
Net VEX-7.8M-8.1M-7.2M-7.9M-7.3M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.860.475.063.973.05
Total Volume31,716.6368,27590,76323,15142,564
Total OI522,870.5464,052580,551490,960494,965

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2023-05-01$126.13$120.0032.6%9.4%34.8%3.5%35.1%5.9%0.8%-12.1M317.1M-7.9M3.974.194,66018,491226,388264,572
2023-05-02$120.24$120.0036.3%10.7%32.8%15.9%39.4%7.1%0.4%-30.6M889.3M-7.5M2.126.8817,08936,198229,200273,313
2023-05-03$117.89$120.0037.7%11.2%32.0%20.7%38.4%7.2%0.2%-31.6M1.06B-7.6M3.047.4222,48268,281234,364281,241
2023-05-04$116.16$130.0040.5%11.9%31.3%30.1%36.3%7.8%0.2%-30.6M1.17B-7.7M0.978.2221,55520,952247,919286,766
2023-05-05$120.59$130.0035.3%10.7%34.7%12.6%36.5%6.5%1.1%-18.2M701.0M-8.1M0.519.1015,7088,016259,256286,134
2023-05-08$120.94$130.0036.3%10.9%33.6%15.9%37.8%7.3%1.4%-19.7M657.8M-7.9M1.283.499,16511,709246,948278,239
2023-05-09$120.44$130.0036.5%10.9%32.8%16.7%35.8%7.0%1.4%-18.6M701.4M-7.9M0.473.6722,46510,530250,815276,600
2023-05-10$119.48$129.0036.4%10.6%32.8%16.1%27.4%6.7%0.7%-18.4M774.9M-8.0M3.193.7812,35939,460260,161280,341
2023-05-11$117.54$129.0036.5%10.5%32.7%16.5%35.4%6.9%0.3%-20.0M999.3M-7.7M0.824.9214,53611,886268,810281,249
2023-05-12$118.53$129.0035.9%10.5%33.1%14.6%36.3%6.5%1.0%-18.1M899.1M-7.8M1.414.2110,95315,490267,858283,632
2023-05-15$121.03$129.0036.3%10.5%34.2%15.9%35.5%6.5%-0.2%-23.8M599.2M-7.8M1.153.7019,53622,562256,670280,703
2023-05-16$117.94$125.0036.8%10.6%35.1%17.5%37.3%6.5%1.0%-30.5M1.03B-7.7M3.473.358,42329,246269,680292,366
2023-05-17$120.30$125.0035.7%10.2%36.0%13.9%32.4%6.5%0.4%-27.6M704.0M-8.0M5.065.308,22641,619274,104302,623
2023-05-18$122.78$125.0033.4%9.5%36.7%6.1%34.7%5.8%1.4%-21.1M306.3M-8.0M1.904.026,81112,930274,945302,616
2023-05-19$123.06$125.0034.2%9.7%36.6%8.9%34.3%5.5%0.8%-13.5M223.5M-7.9M0.894.3016,07814,310275,990304,561
2023-05-22$125.34$125.0034.8%9.9%36.2%10.6%35.2%6.5%-0.3%-8.7M256.9M-7.9M1.344.187,1179,549204,312259,740
2023-05-23$125.79$125.0035.5%10.2%33.6%13.0%35.3%6.8%-0.5%-4.8M205.0M-8.0M0.564.6010,3735,758210,629263,517
2023-05-24$125.98$125.0037.0%10.6%32.8%18.2%39.9%7.5%-0.7%-623.1K177.7M-8.0M2.649.313,7609,910217,461265,121
2023-05-25$123.06$125.0037.9%11.0%33.7%21.3%38.5%7.5%-0.6%-14.9M463.2M-7.8M0.948.784,5454,271222,319268,127
2023-05-26$122.37$125.0036.7%10.7%31.8%17.1%37.9%7.0%-0.3%-17.6M511.7M-7.7M1.648.113,1405,135226,396272,021
2023-05-30$119.58$125.0037.4%11.0%32.5%19.5%37.0%7.0%-0.9%-27.6M759.9M-7.2M0.557.0612,8597,059214,545265,934
2023-05-31$118.32$125.0037.1%11.1%28.0%18.7%36.2%6.8%-0.7%-29.4M813.1M-7.3M3.053.8510,49732,067228,674266,291