OXY Options History — May 2025

In May 2025, OXY traded between $38.94 and $44.57. ATM implied volatility averaged 35.2%, placing in the 31.4% IV rank vs the trailing year. The 30-day expected move averaged 10.1%. IV traded below realized volatility by 17.4% (HV 20d: 52.7%). Max pain ranged from $44.00 to $47.50. Net GEX was positive for 8 of 21 trading days. Term structure was in contango for 6 of 21 days. Put/call ratio averaged 0.90.

Notable Days

2025-05-08: Highest Volume — 94,508 contracts
2025-05-08: Largest IV drop — 15.7% change
2025-05-01: Highest IV Rank — 45.6%
2025-05-01: Largest Expected Move — 13.5%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$41.63	$38.94	$44.57	$40.70	$40.81
Max Pain	$46.55	$44.00	$47.50	$45.00	$45.00
ATM IV	35.2%	29.4%	42.7%	42.7%	33.4%
Expected Move	10.1%	8.2%	13.5%	13.5%	9.6%
HV 20d	52.7%	36.8%	96.7%	96.7%	36.8%
HV 60d	62.4%	61.2%	63.8%	61.4%	61.2%
IV Rank	31.4%	20.3%	45.6%	45.6%	27.9%
IV Percentile	84.1%	62.7%	94.4%	94.4%	81.3%
Term Structure	-0.3%	-2.3%	1.6%	-2.3%	-0.2%
VWIV	36.5%	28.7%	51.0%	51.0%	34.2%
Skew 25d	4.9%	3.8%	6.7%	6.7%	3.8%
Skew 10d	11.5%	7.4%	24.7%	14.0%	7.4%
Call IV 25d	33.1%	27.7%	40.2%	40.2%	32.2%
Put IV 25d	37.9%	33.3%	46.9%	46.9%	36.0%
Bid-Ask Spread %	14.22	3.00	30.30	12.98	4.69
Gamma HHI	0.07	0.06	0.11	0.06	0.07
Net GEX	-1.2M	-10.1M	7.9M	-1.3M	-6.1M
Net DEX	326.1M	-19.1M	607.3M	399.9M	421.9M
Net VEX	-6.1M	-6.6M	-5.5M	-6.1M	-5.9M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.90	0.34	2.13	0.88	0.81
Total Volume	48,630.762	21,404	94,508	53,688	30,657
Total OI	1,051,503.714	980,829	1,128,218	1,032,393	1,028,185

Daily Data (21 trading days)

Date	Price	Max Pain	ATM IV	Exp Move	HV 20d	IV Rank	VWIV	Skew 25d	Term Str	GEX	DEX	VEX	P/C	Spread %	Call Wall	Put Wall	Call Vol	Put Vol	Call OI	Put OI
2025-05-01	$40.70	$45.00	42.7%	13.5%	96.7%	45.6%	51.0%	6.7%	-2.3%	-1.3M	399.9M	-6.1M	0.88	12.98	N/A	N/A	28,616	25,072	601,640	430,753
2025-05-02	$40.56	$44.00	40.5%	12.9%	88.4%	41.3%	47.5%	5.2%	-0.5%	3.1M	420.1M	-6.0M	1.62	11.79	N/A	N/A	30,520	49,552	613,289	437,897
2025-05-05	$38.94	$47.50	41.5%	11.3%	85.4%	43.3%	41.1%	5.8%	-0.6%	-10.1M	607.3M	-5.5M	0.59	18.62	N/A	N/A	35,064	20,663	601,640	450,454
2025-05-06	$39.51	$47.50	40.3%	11.3%	83.4%	41.1%	39.7%	6.3%	-1.3%	-8.6M	544.9M	-5.8M	1.79	16.68	N/A	N/A	23,414	41,818	616,689	462,235
2025-05-07	$39.06	$47.50	41.7%	11.1%	77.4%	43.7%	41.8%	5.4%	-0.7%	-8.9M	589.5M	-5.6M	1.27	18.80	N/A	N/A	24,823	31,428	621,760	459,760
2025-05-08	$41.78	$47.50	35.2%	9.9%	64.2%	31.3%	35.5%	4.6%	1.6%	4.1M	277.1M	-6.3M	0.65	3.22	N/A	N/A	57,109	37,399	632,545	474,888
2025-05-09	$42.16	$47.50	34.4%	9.8%	42.7%	29.9%	33.9%	4.9%	0.9%	6.4M	203.3M	-6.4M	0.63	8.04	N/A	N/A	38,339	24,175	640,507	470,722
2025-05-12	$44.03	$47.50	31.3%	8.5%	42.4%	24.0%	29.9%	3.8%	-1.9%	7.9M	29.1M	-6.5M	0.36	3.00	N/A	N/A	68,074	24,373	623,185	449,699
2025-05-13	$44.57	$47.50	29.4%	8.2%	42.4%	20.3%	28.7%	5.6%	-0.6%	6.6M	-19.1M	-6.6M	0.50	5.67	N/A	N/A	26,918	13,547	632,817	461,221
2025-05-14	$43.86	$47.50	31.3%	8.5%	42.8%	23.9%	32.4%	4.3%	-2.0%	6.7M	71.8M	-6.5M	1.16	3.48	N/A	N/A	12,815	14,882	639,105	463,579
2025-05-15	$43.22	$47.50	32.3%	9.2%	43.4%	25.9%	36.3%	5.2%	-0.5%	4.8M	173.9M	-6.4M	2.13	12.98	N/A	N/A	14,856	31,715	640,145	471,705
2025-05-16	$43.09	$47.50	32.4%	9.3%	41.5%	26.1%	32.0%	5.0%	-0.0%	3.6M	180.6M	-6.4M	0.70	26.33	N/A	N/A	29,948	21,080	643,752	484,466
2025-05-19	$42.23	$47.50	33.7%	9.6%	40.8%	28.6%	35.5%	4.9%	-0.4%	-4.4M	308.6M	-6.2M	1.17	21.10	N/A	N/A	17,958	20,978	558,398	422,431
2025-05-20	$41.84	$47.50	33.6%	9.6%	39.8%	28.3%	35.8%	5.1%	-0.3%	-4.7M	351.6M	-6.1M	0.62	22.12	N/A	N/A	17,021	10,565	568,027	429,840
2025-05-21	$41.25	$47.50	35.0%	10.0%	40.1%	31.0%	36.8%	4.6%	0.3%	-6.3M	410.6M	-6.1M	0.75	30.30	N/A	N/A	15,014	11,221	572,680	433,753
2025-05-22	$41.22	$46.00	34.7%	9.9%	39.8%	30.4%	34.5%	4.3%	0.6%	-6.7M	414.3M	-6.1M	0.84	21.35	N/A	N/A	26,695	22,321	577,420	434,766
2025-05-23	$41.31	$45.00	35.2%	10.0%	39.8%	31.4%	38.6%	4.4%	1.5%	-4.0M	367.7M	-6.1M	0.82	23.98	N/A	N/A	20,838	17,108	588,915	430,383
2025-05-27	$41.58	$45.00	33.0%	9.5%	39.8%	27.2%	33.1%	4.2%	0.9%	-2.9M	352.7M	-5.9M	0.34	25.29	N/A	N/A	24,265	8,158	571,145	421,003
2025-05-28	$41.16	$45.00	34.1%	9.8%	39.9%	29.2%	33.7%	4.3%	-0.3%	-3.1M	383.4M	-5.9M	0.53	4.00	N/A	N/A	13,997	7,407	582,595	422,990
2025-05-29	$41.39	$45.00	34.1%	9.6%	38.6%	29.3%	34.0%	4.0%	-0.1%	-916.0K	359.7M	-6.0M	0.80	4.23	N/A	N/A	17,148	13,695	587,812	426,782
2025-05-30	$40.81	$45.00	33.4%	9.6%	36.8%	27.9%	34.2%	3.8%	-0.2%	-6.1M	421.9M	-5.9M	0.81	4.69	N/A	N/A	16,925	13,732	591,920	436,265