XDS - ICE Swiss Franc Index

ICE Swiss Franc Index (XDS).

As of May 29, 2026: spot at $128.48, ATM IV 6.1%, net GEX $370.0K.

What XDS Looks Like to Options Traders Today

IV rank of 6.3% is subdued relative to the 1-year history, conditions that typically favor premium-buying or long-volatility structures (debit spreads, calendar spreads, long straddles); positive net gamma exposure ($370.0K) means dealers hedge against trend, damping realized volatility and biasing price toward heavy-OI strikes; the 25-delta skew (-0.002) is roughly flat across the wings.

What This Page Covers

The XDS overview links into per-metric analysis views: max pain, gamma exposure, volatility skew, expected move, options chain, open interest history, and aggregate Greeks.

XDS Methodology and Construction

XDS is a benchmark index level rather than a tradable share. Index levels are computed by the provider using a published methodology that specifies the constituent universe, weighting scheme (market-capitalization-weighted, price-weighted, equal-weighted, or factor-weighted), rebalancing cadence, and corporate-action adjustment rules. The level is publishable at end of day, intraday in real-time depending on the provider, and via Special Opening Quotation on settlement Fridays for options that settle to the index. Index components, weights, and reconstitution dates are published by the index provider and updated on the regular calendar.

XDS Options and Derivative Products

Listed options on index symbols are typically European-style and cash-settled, with no early exercise and no physical delivery. Settlement occurs against the index's Special Opening Quotation for AM-settled options and against the closing print for PM-settled options. Standard listed-options tenors include weekly, monthly, quarterly, and LEAPS (long-dated) cycles; the strike grid is densest around the prevailing index level. Index options carry no individual-name event risk; their implied volatility reflects the volatility of the weighted basket plus the correlation structure across constituents.

XDS Related Products

Most major indices have related listed products: an exchange-traded fund (ETF) tracking the index for delta-one exposure, futures contracts on the index for leveraged exposure with mark-to-market settlement, listed options on the index itself for European-style derivatives, and listed options on the corresponding ETF for American-style derivatives that settle to shares of the fund rather than to cash. Each related product carries its own implied-volatility surface, dealer-positioning profile, and basis to the underlying index.

Frequently asked XDS overview questions

What is XDS?

XDS is the listed ticker symbol for ICE Swiss Franc Index, an index. XDS is the index symbol shown on this page; index traders use the level for benchmark performance comparison, options pricing on the index itself (e.g. SPX, NDX, RUT), and as the reference for derivative products that settle to the index.

What does the XDS options snapshot look like today?

As of May 29, 2026, the XDS options snapshot shows spot at $128.48, ATM IV 6.1%, IV rank 6.3%, net GEX $370.0K, expected move 1.75%. The full options chain, Greeks by strike and expiration, per-strike open-interest distribution, dealer gamma and delta exposure, and the volatility skew surface are linked from this overview page. Each per-metric route refreshes once per trading session and reflects the most recent close-of-business listed-options state.

How does XDS differ from single-name equity tickers?

Index symbols (SPX, NDX, RUT, VIX, and others) represent benchmark levels rather than tradable shares. Listed options on index symbols are typically European-style and cash-settled, with PM-settlement on the Friday close and AM-settlement on the Friday-morning Special Opening Quotation. Index options carry no individual-name event risk; their implied volatility reflects the volatility of the basket weighted by index weights plus the correlation structure across constituents. Dispersion trading exploits the wedge between index IV and constituent IV.

How current is the XDS data on this page?

The options snapshot above is dated May 29, 2026 and refreshes once per session, with all per-strike Greeks and exposure aggregates recomputed at the daily close. Index methodology, constituent weights, and rebalancing rules are published by the index provider. Listed options on the index settle to the provider's official Special Opening Quotation or end-of-day level. There is no issuer-level FINRA or SEC reporting on the index itself; constituent-level data is on the individual constituent pages.