XOP Options
SPDR S&P Oil & Gas Exploration ETF Options Chain, Implied Volatility & Greeks
Comprehensive options market data for SPDR S&P Oil & Gas Exploration ETF (XOP). Explore implied volatility patterns, options chain liquidity, gamma exposure levels, and key market metrics.
XOP Options at a Glance
What's Covered in This Guide
1 About SPDR S&P Oil & Gas Exploration ETF (XOP)
SPDR S&P Oil & Gas Exploration ETF trades on NYSE. Options on XOP are actively traded by retail and institutional investors.
Company Profile
Key Dates
XOP is an actively traded options name in the Oil & Gas ETF space.
2 XOP Options Market Overview
XOP options offer good liquidity for traders seeking exposure to Oil & Gas ETF.
Liquidity Assessment: Good
XOP options provide good liquidity for most trading strategies.
3 XOP Volatility Profile
XOP implied volatility reflects market expectations for SPDR S&P Oil & Gas Exploration ETF price movement.
Earnings Impact
IV typically increases before earnings and contracts afterward (IV crush).
Historical Volatility vs IV
Compare IV to historical volatility to assess option pricing relative to realized moves.
Term Structure
Term structure varies with market conditions and upcoming events.
XOP Gamma Exposure (GEX)
Gamma Exposure (GEX) analysis for XOP shows how dealer hedging may impact price behavior.
Typical GEX Profile: GEX profile varies based on market conditions and option positioning.
Key Levels: Major put and call walls at round number strikes may act as support/resistance.
Dealer Hedging: Dealer hedging activity can influence price behavior at key gamma levels.
4 Common XOP Options Strategies
These are strategies commonly used by traders on XOP options, based on typical market characteristics. This is not investment advice.
Used by XOP traders for income exposure. Good liquidity supports efficient execution.
Used by XOP traders for directional exposure. Good liquidity supports efficient execution.
Used by XOP traders for neutral exposure. Good liquidity supports efficient execution.
Used by XOP traders for volatility exposure. Good liquidity supports efficient execution.
Used by XOP traders for time-based exposure. Good liquidity supports efficient execution.
Key Considerations for XOP Options
- XOP options liquidity: Good - affects execution quality
- IV range: 15% - 45% - important for premium selling strategies
- Earnings events can significantly impact IV and option prices
- Consider position sizing based on underlying volatility
- Weekly options available for short-term strategies
- LEAPS available for longer-term positioning
Frequently Asked Questions: XOP Options
What are XOP options?
XOP options are derivative contracts that give you the right to buy (call) or sell (put) SPDR S&P Oil & Gas Exploration ETF shares at a specific price before expiration.
How do I analyze XOP implied volatility?
XOP IV typically ranges from 15% - 22% during quiet periods to 32% - 45% around earnings and major events. Compare current IV to historical ranges to assess relative value.
What is the typical bid-ask spread for XOP options?
XOP options have good liquidity with typical spreads varying by strike and expiration. ATM options generally have tighter spreads.
When does XOP report earnings?
SPDR S&P Oil & Gas Exploration ETF typically reports earnings quarterly. Check the earnings calendar for exact dates as IV tends to increase before announcements.
What strategies work best for XOP options?
Popular XOP strategies include covered calls, vertical spreads, and iron condors. Strategy selection depends on market outlook and risk tolerance.
What is the best time to trade XOP options?
The most liquid trading hours for XOP options are typically during regular market hours (9:30 AM - 4:00 PM ET), with highest volume around market open and close.
How do I calculate XOP option Greeks?
Use our free Options Calculator or Greeks Heatmap tool to calculate delta, gamma, theta, vega and other Greeks for XOP options across all strikes and expirations.
What happens to XOP options at expiration?
In-the-money XOP options are typically auto-exercised at expiration. Out-of-the-money options expire worthless. Consider closing positions before expiration to avoid assignment risk.
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XOP Analytics
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