XOP Options History — December 2023

In December 2023, XOP traded between $129.81 and $141.38. ATM implied volatility averaged 25.3%, placing in the 8.8% IV rank vs the trailing year. The 30-day expected move averaged 7.3%. IV traded above realized volatility by 1.9% (HV 20d: 23.5%). Max pain ranged from $136.00 to $140.00. Net GEX was positive for 10 of 20 trading days. Term structure was in contango for 19 of 20 days. Put/call ratio averaged 1.88.

Notable Days

  • 2023-12-13: Highest Volume — 75,310 contracts
  • 2023-12-20: Largest IV spike — 4.0% change
  • 2023-12-07: Highest IV Rank — 13.6%
  • 2023-12-07: Largest Expected Move — 7.8%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$136.05$129.81$141.38$139.13$136.97
Max Pain$138.60$136.00$140.00$140.00$136.00
ATM IV25.3%24.6%26.6%24.6%24.8%
Expected Move7.3%6.8%7.8%7.3%6.8%
HV 20d23.5%21.8%26.5%23.3%24.7%
HV 60d25.5%23.3%26.6%25.3%23.3%
IV Rank8.8%6.3%13.6%6.4%7.1%
IV Percentile8.2%4.4%13.9%4.4%7.9%
Term Structure0.5%-0.1%1.1%-0.1%1.1%
VWIV25.8%23.7%28.2%26.3%24.1%
Skew 25d1.6%0.4%3.4%3.1%1.2%
Skew 10d3.3%1.0%6.8%5.1%2.6%
Call IV 25d24.9%23.3%26.3%23.3%24.3%
Put IV 25d26.5%25.3%28.5%26.4%25.5%
Bid-Ask Spread %3.462.236.254.603.58
Gamma HHI0.070.040.170.060.05
Net GEX-16.6M-70.2M20.2M19.7M-9.6M
Net DEX170.4M-493.9M1.04B-72.2M-47.3M
Net VEX-8.1M-9.4M-7.4M-9.4M-7.6M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.880.398.850.930.39
Total Volume27,348.357,99775,31021,26613,055
Total OI541,575.55437,031633,361633,361446,484

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2023-12-01$139.13$140.0024.6%7.3%23.3%6.4%26.3%3.1%-0.1%19.7M-72.2M-9.4M0.934.6011,00610,260301,219332,142
2023-12-04$137.28$140.0025.2%7.4%23.6%8.2%26.1%2.8%0.4%-19.8M199.2M-8.9M0.983.437,9067,710287,324310,405
2023-12-05$134.80$140.0025.4%7.4%22.8%9.1%26.3%3.0%0.5%-39.5M521.8M-8.6M1.743.456,00210,416288,977313,471
2023-12-06$130.91$140.0026.3%7.7%22.8%12.4%28.2%3.4%0.3%-60.3M979.4M-8.1M3.753.6013,87252,013291,946316,092
2023-12-07$130.40$140.0026.6%7.8%21.8%13.6%26.9%3.0%0.5%-60.6M935.0M-8.1M0.966.2522,79921,859298,971314,716
2023-12-08$132.34$140.0025.8%7.5%22.6%10.3%26.1%2.4%0.5%-49.5M711.2M-8.1M3.433.868,54829,287294,485316,467
2023-12-11$132.50$140.0025.8%7.5%22.3%10.4%26.2%2.2%0.3%-50.8M680.2M-7.8M4.203.775,80024,336291,612320,893
2023-12-12$129.81$140.0025.4%7.4%22.8%9.2%25.6%2.6%0.3%-70.2M1.04B-7.4M3.714.2410,53739,139294,614323,697
2023-12-13$132.57$140.0024.6%7.2%23.3%6.3%25.4%1.9%0.2%-53.8M601.5M-7.6M8.853.327,64267,668299,134328,299
2023-12-14$136.94$140.0024.8%7.2%26.5%6.8%25.5%0.8%0.3%4.1M-99.4M-8.0M1.263.3420,53725,873300,356325,128
2023-12-15$136.34$140.0024.6%7.1%24.1%6.3%25.0%0.8%0.1%-32.2M-33.8M-7.9M0.413.4513,2075,454300,985330,623
2023-12-18$137.50$140.0025.0%7.2%23.0%7.6%25.5%0.6%0.5%2.5M-43.5M-8.0M1.092.967,1447,793195,966241,065
2023-12-19$138.97$140.0024.8%7.1%23.3%6.7%23.7%0.4%0.4%9.5M-193.1M-8.1M0.853.1917,81115,221198,189244,085
2023-12-20$137.50$136.0025.8%7.4%23.2%10.3%26.4%0.7%0.5%8.5M-171.5M-8.2M0.492.808,9824,399211,460253,058
2023-12-21$138.06$136.0026.2%7.5%23.2%11.8%28.0%0.5%0.6%13.2M-217.3M-8.3M0.962.304,2744,105213,348254,055
2023-12-22$138.93$136.0025.5%7.3%23.3%9.5%26.1%0.7%0.4%15.2M-306.5M-8.2M0.633.347,3284,623215,643255,531
2023-12-26$141.38$136.0025.4%7.2%23.9%9.3%25.5%0.6%0.7%20.2M-493.9M-8.0M0.553.087,2603,959207,123229,915
2023-12-27$140.25$136.0025.1%7.0%24.1%7.8%24.9%1.1%0.8%15.7M-391.5M-7.9M0.842.426,0565,089208,938230,972
2023-12-28$138.34$136.0025.0%6.9%24.6%7.5%24.7%1.1%1.1%5.2M-189.0M-7.8M1.612.233,0674,930211,183232,940
2023-12-29$136.97$136.0024.8%6.8%24.7%7.1%24.1%1.2%1.1%-9.6M-47.3M-7.6M0.393.589,4033,652212,147234,337