State Street SPDR S&P Telecom ETF (XTL) IV/HV History
Comparing implied volatility to historical (realized) volatility reveals whether options are priced rich or cheap relative to actual price movement. Persistent gaps can signal trading opportunities.
State Street SPDR S&P Telecom ETF (XTL) operates in the Financial Services sector, specifically the Asset Management industry, with a market capitalization near $244.3M, listed on AMEX, carrying a beta of 1.24 to the broader market. The State Street SPDR S&P Telecom ETF seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of the S&PTelecom Select Industry Index (the "Index")Seeks to provide exposure to the telecommunications segment of the S&P TMI, comprises the following sub-industries: Alternative Carriers, Communications Equipment, Integrated Telecommunication Services, and Wireless Telecommunication ServicesSeeks to track a modified equal weighted index which provides the potential for unconcentrated industry exposure across large, mid and small cap stocksAllows investors to take strategic or tactical positions at a more targeted level than traditional sector based investing public since 2011-01-27.
Snapshot as of May 15, 2026.
- Spot Price
- $226.33
- ATM IV
- 26.3%
- HV 20-Day
- 31.3%
- HV 60-Day
- 34.9%
- IV Rank
- 41.4%
- IV Percentile
- 78.6%
As of May 15, 2026, State Street SPDR S&P Telecom ETF (XTL) ATM implied volatility is 26.3%. 20-day realized volatility is 31.3%, producing an IV-HV spread of -5.0 vol points. Realized volatility currently exceeds implied, an inversion that can signal a pending IV expansion. IV rank is 41.4%.
How XTL iv/hv history Data Feeds Strategy Selection
Strategy selection on State Street SPDR S&P Telecom ETF options does not derive from any single metric in isolation. The iv/hv history view above sits inside a broader read: ATM IV currently sits at 26.3% and dealer gamma exposure is positive, so dealer hedging is mechanically mean-reverting. Combine the iv/hv history data here with the volatility-skew surface, dealer-gamma exposure, max-pain level, and upcoming-events calendar to build a positioning thesis. Risk-defined structures (credit spreads, debit spreads, iron condors) are usually safer than naked positions while the regime is uncertain; the data on this page anchors the inputs but does not by itself constitute a trade thesis.
Learn how implied vs realized volatility is reported and how to read the data →
Frequently asked XTL iv/hv history questions
- Is XTL options pricing rich or cheap right now?
- As of May 15, 2026, State Street SPDR S&P Telecom ETF (XTL) ATM IV is 26.3% against 20-day realized volatility of 31.3%. IV rank is 41.4%. Realized volatility currently exceeds implied: an inversion of the typical equity volatility risk premium that often precedes IV expansion.
- What is the XTL variance risk premium?
- The variance risk premium is the persistent gap between implied and subsequently realized volatility. In equity markets it averages positive because option sellers demand compensation for bearing variance shocks. XTL is currently pricing inverted to the historical pattern, which is one input to whether short-vol or long-vol structures carry their typical edge.
- What does XTL IV rank mean for strategy selection?
- IV rank normalizes the current ATM IV to its 1-year range: 0% is the low, 100% is the high. XTL's current rank of 41.4% signals where current pricing sits in its own 1-year history. High-rank regimes typically favor premium-selling structures (credit spreads, condors, covered calls); low-rank regimes typically favor premium-buying or long-volatility structures.