XOP Options History — November 2023

In November 2023, XOP traded between $135.83 and $148.53. ATM implied volatility averaged 26.9%, placing in the 14.4% IV rank vs the trailing year. The 30-day expected move averaged 7.8%. IV traded above realized volatility by 3.8% (HV 20d: 23.0%). Max pain ranged from $140.00 to $145.00. Net GEX was positive for 4 of 21 trading days. Term structure was in contango for 13 of 21 days. Put/call ratio averaged 1.46.

Notable Days

  • 2023-11-28: Highest Volume — 77,967 contracts
  • 2023-11-16: Largest IV spike — 7.7% change
  • 2023-11-01: Highest IV Rank — 21.6%
  • 2023-11-01: Largest Expected Move — 8.3%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$139.96$135.83$148.53$145.47$138.08
Max Pain$141.90$140.00$145.00$143.00$140.00
ATM IV26.9%24.8%28.8%28.8%24.8%
Expected Move7.8%7.3%8.3%8.3%7.4%
HV 20d23.0%19.2%25.2%20.7%24.6%
HV 60d24.7%23.3%25.7%23.4%25.2%
IV Rank14.4%6.7%21.6%21.6%6.7%
IV Percentile10.4%5.2%21.8%21.8%5.2%
Term Structure0.0%-0.9%0.7%0.4%-0.1%
VWIV28.2%25.2%32.0%28.9%26.8%
Skew 25d2.5%1.9%3.1%2.3%3.1%
Skew 10d4.7%3.5%5.5%4.1%5.1%
Call IV 25d25.7%23.4%27.9%27.9%23.4%
Put IV 25d28.2%26.4%30.2%30.2%26.4%
Bid-Ask Spread %3.352.835.033.244.09
Gamma HHI0.060.050.100.060.05
Net GEX-15.9M-49.6M47.8M16.0M-2.0M
Net DEX108.2M-760.5M696.4M-409.6M89.0M
Net VEX-7.9M-9.0M-7.2M-8.6M-8.9M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.460.334.470.611.16
Total Volume27,441.85713,72677,96714,62446,037
Total OI527,543.476492,081608,691493,961608,691

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2023-11-01$145.47$143.0028.8%8.3%20.7%21.6%28.9%2.3%0.4%16.0M-409.6M-8.6M0.613.249,0885,536222,212271,749
2023-11-02$148.53$144.0027.3%8.1%21.6%16.0%29.0%1.9%0.6%47.8M-760.5M-8.5M0.942.868,2167,762225,733273,163
2023-11-03$147.61$144.0027.0%8.0%21.0%15.0%28.3%1.9%0.6%33.4M-646.8M-8.5M1.183.0111,32613,366230,229276,033
2023-11-06$143.95$145.0027.5%8.0%19.2%16.5%29.2%2.3%0.3%-2.2M-205.3M-8.2M2.033.046,73913,659219,764273,468
2023-11-07$139.78$145.0028.0%8.1%21.6%18.4%27.8%2.5%0.2%-20.3M228.1M-8.0M1.212.9012,26214,884222,457269,624
2023-11-08$136.86$144.0028.5%8.2%22.6%20.4%30.1%2.6%0.1%-35.2M525.7M-7.8M2.073.3519,00239,392225,790273,619
2023-11-09$135.83$143.0028.0%8.0%22.6%18.4%28.1%2.5%0.1%-49.3M696.4M-8.0M2.403.574,31710,366235,892302,828
2023-11-10$137.09$143.0027.0%7.8%21.2%14.7%29.8%2.3%0.3%-49.6M540.8M-7.9M1.013.2411,78611,851236,987299,594
2023-11-13$138.34$143.0026.9%7.7%21.2%14.5%29.1%2.5%0.7%-36.7M350.4M-7.7M2.073.066,84614,188237,820295,349
2023-11-14$140.70$142.0025.9%7.4%21.7%11.1%26.6%2.4%0.6%-25.0M41.2M-7.7M2.692.836,17916,638240,070294,920
2023-11-15$140.99$142.0025.6%7.3%21.7%9.8%26.1%2.0%0.6%-27.3M-304.7K-7.6M1.013.247,3897,497241,472297,142
2023-11-16$136.66$142.0027.6%7.9%23.7%17.0%27.8%2.7%0.3%-45.7M595.1M-7.4M0.752.8523,61017,820242,218298,220
2023-11-17$139.61$140.0027.0%7.7%25.2%15.0%28.6%1.9%0.1%-43.0M119.1M-7.7M1.083.3914,67915,820258,263303,721
2023-11-20$140.31$140.0027.1%7.8%24.9%15.3%28.7%2.5%-0.9%-2.1M-21.4M-7.7M1.423.686,8469,724218,117279,518
2023-11-21$138.64$140.0026.7%7.6%25.1%13.8%27.2%2.5%-0.7%-14.3M162.6M-7.5M1.183.376,3027,424221,000285,288
2023-11-22$138.74$140.0026.1%7.5%25.2%11.4%27.7%2.9%-0.6%-14.6M168.8M-7.6M1.523.4611,81517,913223,957286,742
2023-11-24$139.20$140.0026.0%7.5%25.2%11.2%32.0%2.6%-0.8%1.1M79.1M-7.5M4.473.474,60220,569230,906296,105
2023-11-27$138.12$140.0025.8%7.8%24.8%10.3%27.3%2.8%-0.0%-20.7M221.3M-7.2M1.013.457,8797,932226,971298,584
2023-11-28$137.68$140.0025.9%7.8%24.8%11.0%27.6%2.8%-0.4%-23.9M276.3M-7.3M0.333.2858,74719,220229,311303,560
2023-11-29$137.05$140.0026.6%8.1%24.4%13.3%25.2%2.8%-0.5%-19.9M222.0M-9.0M0.575.0313,4277,624284,657316,669
2023-11-30$138.08$140.0024.8%7.4%24.6%6.7%26.8%3.1%-0.1%-2.0M89.0M-8.9M1.164.0921,27324,764290,925317,766