Simplify Analytics
XLE

XLE

$64.31 unadjusted close, 2026-09-18
as of 2026-09-18
AAPLAMDAMZNAVGOCATCRSRCRWDDEDELLDIAGOOGINTCIWMLMTMETAMRVLMSFTMUNVDAORCLPANWPLTRQQQSMHSNDKSOXXSPCXSPYSTXWDCXLEXLFXLIXLKXLPXLUXLVXLYXOM

Implied volatility · 30-day constant maturity

level
25.5%
IV percentile
55.2%
own all (<3y) · n=241
IV rank
48.2%
own all (<1y) · n=241
range
17.6% – 34.0%
own all (<1y) · n=241
low 17.6%241 sessions, all (<1y) · today 25.5%high 34.0%

Term structure · constant maturity

2 consecutive sessions in contango (the normal upward slope).

25 calendar days out: every tenor of 5d or longer spans it Wed 09-23 09:45 ET · US Flash Manufacturing PMI (September) Wed 09-23 09:45 ET · US Flash Services PMI (September)46 calendar days out: every tenor of 6d or longer spans it Thu 09-24 08:00 ET · Economic Club of Washington, DC event with Federal Reserve Bank of Richmond President Thomas Barkin Thu 09-24 08:30 ET · Weekly Jobless Claims (September) Thu 09-24 10:00 ET · New Home Sales (August) Thu 09-24 11:00 ET · Kansas City Fed Survey (September)27 calendar days out: every tenor of 7d or longer spans it Fri 09-25 08:30 ET · Durable Goods (August) Fri 09-25 10:00 ET · U. Michigan Final Consumer Survey (September)1d5d7d14d30d60d90d180d365d26.8%14.9%
━ 2026-09-18┅ 2026-08-19 (21 sessions earlier)◆ scheduled release, at the first tenor spanning ittenors in calendar days, log scale
Scheduled after the 2026-09-18 close, from the 2026-09-18 calendar snapshot (forecasts as they stood then). Each is marked with the shortest tenor, in calendar days, that spans it:
  • Wed 09-23 09:45 · 5d US Flash Manufacturing PMI (September) · prev 53.2
  • Wed 09-23 09:45 · 5d US Flash Services PMI (September) · prev 56.8
  • Thu 09-24 08:00 · 6d Economic Club of Washington, DC event with Federal Reserve Bank of Richmond President Thomas Barkin
  • Thu 09-24 08:30 · 6d Weekly Jobless Claims (September)
  • Thu 09-24 10:00 · 6d New Home Sales (August) · prev 607000
  • Thu 09-24 11:00 · 6d Kansas City Fed Survey (September) · prev 17
  • Fri 09-25 08:30 · 7d Durable Goods (August) · prev 1.1%
  • Fri 09-25 10:00 · 7d U. Michigan Final Consumer Survey (September) · prev 51.7

Earnings: no earnings (ETF): the vendor serves no reports for the funds whose holdings are collected here, and this symbol is one of them.

90-day IV
26.8%
own all (<3y) 77.4% · n=241
slope, 30d − 90d
-1.3 pts
own all (<3y) 10.0% · n=241
variance risk premium, 30d
+5.4 pts
own all (<3y) 80.7% · n=236

Skew · risk reversal

25-delta
-0.3 pts
own all (<3y) 87.1% · n=35
10-delta
+1.5 pts
own all (<3y) 87.1% · n=35

Skew has been collected since 2026-07-30 only: the vendor serves no earlier history, so each percentile here is taken over all of it - the few weeks of readings there are, which the n beside it counts.

Smile by expiry: the 8 expiries within 120 DTE carrying the most open interest · book as of 2026-09-17

1d2026-09-18 · short
2026-09-18: 2 put and 2 call strikes within ±2.3%, IV 23% to 28%31%20%−2.3%book spot+2.3%
8d2026-09-25
2026-09-25: 8 put and 6 call strikes within ±6.5%, IV 21% to 31%31%20%−6.5%book spot+6.5%
13d2026-09-30
2026-09-30: 5 put and 5 call strikes within ±8.2%, IV 22% to 30%31%20%−8.2%book spot+8.2%
29d2026-10-16
2026-10-16: 8 put and 8 call strikes within ±12%, IV 22% to 30%31%20%−12%book spot+12%
64d2026-11-20
2026-11-20: 12 put and 12 call strikes within ±18%, IV 25% to 31%31%20%−18%book spot+18%
92d2026-12-18
2026-12-18: 10 put and 7 call strikes within ±22%, IV 25% to 30%31%20%−22%book spot+22%
105d2026-12-31
2026-12-31: 3 put and 3 call strikes within ±23%, IV 24% to 30%31%20%−23%book spot+23%
120d2027-01-15
2027-01-15: 6 put and 5 call strikes within ±25%, IV 25% to 30%31%20%−25%book spot+25%
IV against strike, out-of-the-money side. Each window widens with √DTE, to ±25% at the longest expiry, so every panel shows a comparable slice of its smile; all share one IV scale (20%–31%), set by the expiries past 7 DTE.

Expiry window · 35–65 DTE

Next earnings: no earnings (ETF): the vendor serves no reports for the funds whose holdings are collected here, and this symbol is one of them.

expiryDTE28-DTE exitthesisearningsATM IV · 09-17expected move
2026-10-23 Friweekly352026-09-257dno earnings (ETF)24.0% c 64.5—
2026-10-30 Friweekly422026-10-0214dno earnings (ETF)24.7% c 64.5—
2026-11-20 Fri632026-10-2335dno earnings (ETF)28.4% p 64—

DTE counts calendar days from 2026-09-18, the page's date and the earliest an entry could be made - not from the 2026-09-17 book the expiries and IVs come from, which would overstate it by 1 day; an expiry first listed after 2026-09-17 is not in the book and not here. A premarket report moves its own session and a postmarket one the next; one with no stated time is placed at the earlier of the two - or at the later, once the earlier is already in the 2026-09-18 close - so an expiry can be called spanning when it might not be, never the reverse. "spans +N": the expiry settles N calendar days after that session, and the line under it says whether the 28-DTE exit comes before it ("inside the exit": that date is already behind 2026-09-18, so it protects nothing); "clear N": it settles N days before it. Thesis = DTE − 28 (the hard exit is 21), cut to the last session before a report that comes first. Every expiry in the band is listed, and one that is not a third Friday is marked weekly — §1 of the trading rules admits no weeklies and no 0DTE, so those rows are context, not candidates; the mark is the calendar test on the date alone, and a monthly pulled back to a Thursday by a holiday carries it too. ATM IV is the vendor's at the 2026-09-17 close, on the out-of-the-money side of the listed strike nearest book spot: a display selection, not a statistic, read at that one strike, so "no IV at X" is about X and not about its neighbours. The expected move is the vendor's, for the report the expiry spans. Every row links to that expiry on the strike axis below.

Chain · one strike axis

Book as of 2026-09-17: 1 session behind 2026-09-18: no XLE chain statistics (net_gex) dated after 2026-09-17 are knowable as of 2026-09-18, and no ticker has newer ones. The strikes drawn below are 2026-09-17's rows as stored now; the levels and statistics are the readings dated 2026-09-17, computed from those rows when the readings were derived, and a fetch of 2026-09-17 after that can revise rows. Open interest is what entered 2026-09-17 (OCC's settlement of 2026-09-16), valued at the 2026-09-17 close.

net GEX · carried book
+$23.7m per 1%
own all (<3y) 38.3% · n=64
gamma flip
$64.06
flip within ±25% of book spot
flip distance
-0.32 ATR
own all (<3y) 73.4% · n=62
0DTE share of volume
not listed daily

book spot $64.48 (unadjusted close, 2026-09-17) · call wall $65.00 (+0.81% from book spot) · put wall $64.00 (-0.74% from book spot) · max pain $63.00 (-2.30% from book spot, 2026-10-16 monthly)

Each level is stored as a distance from the book's own spot, so each is drawn at $64.48 × (1 + that distance) - the 2026-09-17 unadjusted close, the price the chain was taken at. That is why two prices appear on this page. XLE headlines $64.31, its newest unadjusted close, on 2026-09-18; the book was taken at $64.48 on 2026-09-17, because the book trails the page by the one session counted above. Both are closes, both are dated, and neither is adjusted. Recomputing a wall on the newer close would put it at a level this book never had, so none of these is: they are the 2026-09-17 book's levels, on the 2026-09-17 close.

Dashed: 7 DTE or less, where the vendor's gamma is noisy. "mp": the monthly max pain describes.

Tradability of the 2026-12-31 expiry: 104 calendar days from 2026-09-18 (105 from the book date), outside the owner's 35–65 DTE entry window. Spreads are the NBBO stored with the 2026-09-17 chain snapshot - not a live quote, and not DESIGN J's quote at a trade (per-trade quotes are not collected) - as a percent of mid; a zero or missing bid, or a crossed quote, is drawn as × for no two-sided quote. The owner's floors are marked and filter nothing: spread 10% of mid, OI 500, and the strike nearest 0.20 delta on each side - call 75 (Δ 0.17), put 55 (Δ -0.13).

call put OI carried through 2026-09-16 · opened by 2026-09-16's trading · closed by it / net GEX long / short gamma book spot call wall put wall max pain gamma flipfloors, marked not filtered: spread 10% of mid · OI 500 · strike nearest 0.20 delta, beside the spread panel · no two-sided quote · spread past 25%
OI changes are 2026-09-16's trading; volume is 2026-09-17's.◀ put OIcall OI ▶entering 2026-09-17◀ put volcall vol ▶traded 2026-09-17◀ putcall ▶spread, % of mid− net GEX+$ per 1% move8075706560555352.55251.55150.55049.54948.5put strike nearest 0.20 delta: 55call strike nearest 0.20 delta: 753.4k03.4k535325%10%10%25%-$484k+$484kcall wall 65book spot 64.48γ flip 64.06put wall 64strike 80 calls: OI 889 (+1) · vol 6 (at ask 3, at bid 3) · NBBO 0.19 × 0.52, spread 93.0% of mid · Δ 0.09 puts: OI 1 (+0) · vol 0 (at ask 0, at bid 0) · NBBO 15.60 × 16.90, spread 8.0% of mid · Δ -0.87 net GEX +$62k per 1% (calls +$63k, puts -$77)strike 75 calls: OI 2,144 (-2) · vol 8 (at ask 0, at bid 1, multi-leg 7) · NBBO 0.64 × 1.04, spread 47.6% of mid · Δ 0.17 puts: OI 0 (+0) · vol 0 (at ask 0, at bid 0) · NBBO 10.95 × 11.60, spread 5.8% of mid · Δ -0.82 net GEX +$240k per 1% (calls +$240k, puts +$0)strike 70 calls: OI 698 (-8) · vol 22 (at ask 5, at bid 8, multi-leg 1) · NBBO 1.67 × 1.86, spread 10.8% of mid · Δ 0.31 puts: OI 119 (-1) · vol 0 (at ask 0, at bid 0) · NBBO 6.25 × 7.50, spread 18.2% of mid · Δ -0.71 net GEX +$90k per 1% (calls +$110k, puts -$20k)strike 65 calls: OI 1,969 (+37) · vol 53 (at ask 25, at bid 27) · NBBO 3.30 × 3.70, spread 11.4% of mid · Δ 0.51 puts: OI 35 (-13) · vol 2 (at ask 0, at bid 2) · NBBO 3.65 × 4.05, spread 10.4% of mid · Δ -0.49 net GEX +$345k per 1% (calls +$351k, puts -$6k)strike 60 calls: OI 3,439 (+2) · vol 3 (at ask 3, at bid 0) · NBBO 6.10 × 6.65, spread 8.6% of mid · Δ 0.72 puts: OI 278 (-12) · vol 12 (at ask 1, at bid 6, multi-leg 1) · NBBO 1.51 × 1.80, spread 17.5% of mid · Δ -0.28 net GEX +$484k per 1% (calls +$527k, puts -$43k)strike 55 calls: OI 1,011 (-1) · vol 30 (at ask 30, at bid 0, multi-leg 30) · NBBO 10.00 × 10.65, spread 6.3% of mid · Δ 0.88 puts: OI 217 (-1) · vol 1 (at ask 0, at bid 1) · NBBO 0.43 × 0.71, spread 49.1% of mid · Δ -0.13 net GEX +$70k per 1% (calls +$89k, puts -$19k)strike 53 calls: OI 238 (+0) · vol 0 (at ask 0, at bid 0) · NBBO 11.00 × 12.40, spread 12.0% of mid · Δ 0.94 puts: OI 160 (+0) · vol 0 (at ask 0, at bid 0) · NBBO 0.34 × 0.53, spread 43.7% of mid · Δ -0.09 net GEX +$3k per 1% (calls +$14k, puts -$11k)strike 52.5 calls: OI 61 (+0) · vol 0 (at ask 0, at bid 0) · NBBO 11.40 × 12.80, spread 11.6% of mid · Δ 0.95 puts: OI 335 (+0) · vol 0 (at ask 0, at bid 0) · NBBO 0.33 × 0.45, spread 30.8% of mid · Δ -0.08 net GEX -$17k per 1% (calls +$3k, puts -$21k)strike 52 calls: OI 3,276 (+20) · vol 0 (at ask 0, at bid 0) · NBBO 11.90 × 13.35, spread 11.5% of mid · Δ 0.96 puts: OI 135 (+0) · vol 0 (at ask 0, at bid 0) · NBBO 0.14 × 0.41, spread 98.2% of mid · Δ -0.07 net GEX +$138k per 1% (calls +$145k, puts -$8k)strike 51.5 calls: OI 17 (+0) · vol 0 (at ask 0, at bid 0) · NBBO 12.35 × 13.75, spread 10.7% of mid · Δ 0.96 puts: OI 71 (+0) · vol 0 (at ask 0, at bid 0) · NBBO 0.23 × 0.38, spread 49.2% of mid · Δ -0.06 net GEX -$3k per 1% (calls +$661, puts -$4k)strike 51 calls: OI 127 (+1) · vol 0 (at ask 0, at bid 0) · NBBO 13.05 × 14.25, spread 8.8% of mid · Δ 0.97 puts: OI 88 (+0) · vol 0 (at ask 0, at bid 0) · NBBO 0.18 × 0.34, spread 61.5% of mid · Δ -0.06 net GEX +$116 per 1% (calls +$4k, puts -$4k)strike 50.5 calls: OI 60 (+0) · vol 0 (at ask 0, at bid 0) · NBBO 13.25 × 14.85, spread 11.4% of mid · Δ 0.97 puts: OI 104 (+0) · vol 0 (at ask 0, at bid 0) · NBBO 0.19 × 0.34, spread 56.6% of mid · Δ -0.06 net GEX -$3k per 1% (calls +$2k, puts -$5k)strike 50 calls: OI 331 (+0) · vol 48 (at ask 44, at bid 4, multi-leg 48) · NBBO 14.55 × 15.45, spread 6.0% of mid · Δ 0.98 puts: OI 676 (+0) · vol 5 (at ask 2, at bid 0, multi-leg 3) · NBBO 0.13 × 0.28, spread 73.2% of mid · Δ -0.05 net GEX -$19k per 1% (calls +$8k, puts -$28k)strike 49.5 calls: OI 56 (+0) · vol 0 (at ask 0, at bid 0) · NBBO 14.20 × 15.80, spread 10.7% of mid · Δ 0.98 puts: OI 3 (+0) · vol 0 (at ask 0, at bid 0) · NBBO 0.14 × 0.27, spread 63.4% of mid · Δ -0.05 net GEX +$993 per 1% (calls +$1k, puts -$112)strike 49 calls: OI 50 (+0) · vol 0 (at ask 0, at bid 0) · NBBO 14.90 × 16.30, spread 9.0% of mid · Δ 0.99 puts: OI 15 (+0) · vol 0 (at ask 0, at bid 0) · NBBO 0.10 × 0.25, spread 85.7% of mid · Δ -0.04 net GEX +$220 per 1% (calls +$733, puts -$513)strike 48.5 calls: OI 38 (+0) · vol 0 (at ask 0, at bid 0) · NBBO 15.25 × 16.70, spread 9.1% of mid · Δ 0.99 puts: OI 824 (+0) · vol 1 (at ask 0, at bid 1, multi-leg 1) · NBBO 0.08 × 0.23, spread 96.8% of mid · Δ -0.04 net GEX -$25k per 1% (calls +$413, puts -$26k)

2026-12-31 expiry, 16 strikes within ±25% of book spot (the flip search band); 24 hidden (0 above, 24 below), 24 of them with open interest. One row per listed strike: rows are evenly spaced, prices are not. Net GEX is this expiry's alone (+$1.6m per 1% in all); the walls, flip and headline sum every carried expiry. Volume is 2026-09-17's own - whether it opened positions shows in the 2026-09-18 book's change.

max pain $63.00 belongs to the 2026-10-16 monthly (29 days from 2026-09-17, as max_pain_expiry_dte stores it: the nearest monthly at least 7 days out), not to this expiry.

Table view · 16 strikes
putsstrikecallsGEX, $ per 1%
ΔOIOImulti-legsweep@bid@askvolΔspraskbidbidasksprΔvol@ask@bidsweepmulti-legOIΔOIputcallnet
+0100000-0.878.0%16.9015.60800.190.5293.0%0.0963300889+1-$77+$63k+$62k
+0000000-0.825.8%11.6010.95750.641.0447.6%0.17801072,144-2+$0+$240k+$240k
-111900000-0.7118.2%7.506.25701.671.8610.8%0.31225801698-8-$20k+$110k+$90k
-133500202-0.4910.4%4.053.65653.303.7011.4%0.51532527001,969+37-$6k+$351k+$345k
-12278106112-0.2817.5%1.801.51606.106.658.6%0.72330003,439+2-$43k+$527k+$484k
-121700101-0.1349.1%0.710.435510.0010.656.3%0.88303000301,011-1-$19k+$89k+$70k
+016000000-0.0943.7%0.530.345311.0012.4012.0%0.9400000238+0-$11k+$14k+$3k
+033500000-0.0830.8%0.450.3352.511.4012.8011.6%0.950000061+0-$21k+$3k-$17k
+013500000-0.0798.2%0.410.145211.9013.3511.5%0.96000003,276+20-$8k+$145k+$138k
+07100000-0.0649.2%0.380.2351.512.3513.7510.7%0.960000017+0-$4k+$661-$3k
+08800000-0.0661.5%0.340.185113.0514.258.8%0.9700000127+1-$4k+$4k+$116
+010400000-0.0656.6%0.340.1950.513.2514.8511.4%0.970000060+0-$5k+$2k-$3k
+067630025-0.0573.2%0.280.135014.5515.456.0%0.9848444048331+0-$28k+$8k-$19k
+0300000-0.0563.4%0.270.1449.514.2015.8010.7%0.980000056+0-$112+$1k+$993
+01500000-0.0485.7%0.250.104914.9016.309.0%0.990000050+0-$513+$733+$220
+082410101-0.0496.8%0.230.0848.515.2516.709.1%0.990000038+0-$26k+$413-$25k