XOP Options History — July 2025

In July 2025, XOP traded between $126.06 and $133.55. ATM implied volatility averaged 27.3%, placing in the 14.1% IV rank vs the trailing year. The 30-day expected move averaged 7.9%. IV traded above realized volatility by 1.9% (HV 20d: 25.4%). Max pain ranged from $126.00 to $132.00. Net GEX was positive for 4 of 22 trading days. Term structure was in contango for 9 of 22 days. Put/call ratio averaged 1.43.

Notable Days

  • 2025-07-23: Highest Volume — 17,789 contracts
  • 2025-07-09: Largest IV drop — 5.8% change
  • 2025-07-16: Highest IV Rank — 17.1%
  • 2025-07-31: Largest Expected Move — 8.6%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$129.38$126.06$133.55$127.34$128.10
Max Pain$130.95$126.00$132.00$130.00$132.00
ATM IV27.3%25.9%28.5%27.3%27.6%
Expected Move7.9%7.3%8.6%7.5%8.6%
HV 20d25.4%23.5%27.8%27.1%24.8%
HV 60d32.1%26.2%52.6%52.6%26.4%
IV Rank14.1%10.4%17.1%14.7%13.9%
IV Percentile52.6%35.3%63.1%55.2%54.8%
Term Structure-0.2%-1.9%0.6%0.3%-0.7%
VWIV28.1%26.3%30.5%26.9%30.4%
Skew 25d2.5%-0.8%12.9%4.0%0.9%
Skew 10d5.4%-4.3%17.4%17.4%0.8%
Call IV 25d26.2%16.1%28.0%25.3%27.7%
Put IV 25d28.6%26.7%30.1%29.3%28.6%
Bid-Ask Spread %33.5418.6649.6249.6234.38
Gamma HHI0.070.060.130.060.07
Net GEX-7.8M-22.2M11.5M-12.2M-9.4M
Net DEX197.1M-85.6M367.5M303.3M279.1M
Net VEX-5.3M-5.6M-5.0M-5.6M-5.4M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.430.277.381.991.80
Total Volume7,652.2733,14017,7898,3535,396
Total OI311,129.182268,776333,316320,273308,324

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2025-07-01$127.34$130.0027.3%7.5%27.1%14.7%26.9%4.0%0.3%-12.2M303.3M-5.6M1.9949.622,7945,559105,991214,282
2025-07-02$128.99$130.0028.2%7.9%26.0%16.5%28.1%-0.8%-0.2%-5.8M201.3M-5.6M0.4948.737,6903,804106,637213,816
2025-07-03$129.44$126.0028.3%8.0%23.8%16.6%28.5%12.9%-1.9%-2.6M173.5M-5.5M2.6835.068962,397108,656214,555
2025-07-07$127.36$127.0028.3%8.1%24.7%16.8%28.8%2.2%-0.3%-11.8M293.9M-5.4M0.5525.868,4374,607105,436212,314
2025-07-08$131.87$129.0028.1%8.1%26.4%16.4%28.9%2.1%0.2%1.0M39.4M-5.5M0.7633.585,6094,286105,328213,025
2025-07-09$130.76$130.0026.5%7.6%26.4%13.2%27.2%2.0%0.4%-2.4M92.7M-5.4M0.5836.372,9601,707106,093213,924
2025-07-10$132.10$129.0026.4%7.7%26.4%12.9%27.6%2.0%0.5%4.9M9.1M-5.3M1.0033.786,6906,660107,613214,258
2025-07-11$133.55$132.0026.2%7.6%25.8%12.5%27.4%2.1%0.6%11.5M-85.6M-5.4M2.0025.241,4512,901112,660218,230
2025-07-14$131.52$132.0027.5%7.9%26.5%15.1%27.7%2.4%-0.2%1.8M76.7M-5.2M0.5218.664,2272,191109,179216,214
2025-07-15$129.11$132.0027.3%7.8%25.9%14.7%27.3%2.1%-0.5%-10.4M235.9M-5.2M1.2124.242,7043,278112,097216,272
2025-07-16$127.17$132.0028.5%8.2%26.3%17.1%28.5%2.5%-0.5%-22.2M367.5M-5.1M1.8036.781,9833,572113,383217,300
2025-07-17$129.20$132.0027.3%7.9%26.4%13.2%27.7%1.9%-0.4%-16.0M244.2M-5.1M2.2230.031,1242,492113,708218,444
2025-07-18$129.48$132.0028.1%8.1%26.5%14.9%28.9%2.3%-0.6%-20.7M248.2M-5.0M0.8936.143,5363,144114,043219,273
2025-07-21$126.06$132.0027.9%8.1%27.8%14.3%28.8%1.2%0.0%-14.4M321.4M-5.0M1.4531.043,6325,27978,493190,283
2025-07-22$127.81$132.0027.6%7.9%24.1%13.8%28.1%2.4%-0.1%-13.0M253.9M-5.1M0.4133.944,8942,01981,281194,351
2025-07-23$128.36$132.0026.6%7.7%24.0%11.9%27.5%2.5%0.1%-6.7M227.6M-5.1M7.3833.412,12315,66685,060195,170
2025-07-24$128.70$132.0026.6%7.6%23.6%11.8%27.1%3.1%0.2%-7.9M253.8M-5.4M0.7334.243,2322,35185,838209,403
2025-07-25$128.25$132.0025.9%7.3%23.5%10.4%26.3%2.1%0.1%-16.4M275.7M-5.4M0.9335.631,6281,51287,306210,059
2025-07-28$130.73$132.0026.1%7.6%24.2%10.9%27.9%1.2%-0.4%-7.9M171.3M-5.3M0.6531.954,0602,63083,848208,812
2025-07-29$131.59$132.0027.4%8.2%24.1%13.4%29.2%1.5%-0.7%-5.0M121.9M-5.5M0.2732.759,6652,59387,577209,937
2025-07-30$128.93$132.0028.0%8.5%25.2%14.7%30.5%1.4%-1.0%-6.6M232.4M-5.4M1.2136.382,2532,71895,680210,689
2025-07-31$128.10$132.0027.6%8.6%24.8%13.9%30.4%0.9%-0.7%-9.4M279.1M-5.4M1.8034.381,9283,46896,368211,956