Simplify Analytics
XLU

XLU

$41.10 unadjusted close, 2026-09-18
as of 2026-09-18
AAPLAMDAMZNAVGOCATCRSRCRWDDEDELLDIAGOOGINTCIWMLMTMETAMRVLMSFTMUNVDAORCLPANWPLTRQQQSMHSNDKSOXXSPCXSPYSTXWDCXLEXLFXLIXLKXLPXLUXLVXLYXOM

Implied volatility · 30-day constant maturity

level
15.3%
IV percentile
20.3%
own all (<3y) · n=241
IV rank
26.2%
own all (<1y) · n=241
range
12.5% – 23.2%
own all (<1y) · n=241
low 12.5%241 sessions, all (<1y) · today 15.3%high 23.2%

Term structure · constant maturity

12 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)1d5d7d14d30d60d90d180d365d17.9%12.9%
━ 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
16.0%
own all (<3y) 9.1% · n=241
slope, 30d − 90d
-0.7 pts
own all (<3y) 40.2% · n=241
variance risk premium, 30d
+1.1 pts
own all (<3y) 37.5% · n=236

Skew · risk reversal

25-delta
-0.9 pts
own all (<3y) 55.7% · n=35
10-delta
-4.4 pts
own all (<3y) 12.9% · 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 29%31%9%−2.3%book spot+2.3%
8d2026-09-25
2026-09-25: 6 put and 5 call strikes within ±6.5%, IV 10% to 30%31%9%−6.5%book spot+6.5%
15d2026-10-02
2026-10-02: 7 put and 7 call strikes within ±8.8%, IV 12% to 26%31%9%−8.8%book spot+8.8%
22d2026-10-09
2026-10-09: 8 put and 8 call strikes within ±11%, IV 13% to 25%31%9%−11%book spot+11%
29d2026-10-16
2026-10-16: 4 put and 5 call strikes within ±12%, IV 13% to 23%31%9%−12%book spot+12%
36d2026-10-23
2026-10-23: 6 put and 8 call strikes within ±14%, IV 14% to 22%31%9%−14%book spot+14%
92d2026-12-18
2026-12-18: 4 put and 11 call strikes within ±22%, IV 14% to 19%31%9%−22%book spot+22%
120d2027-01-15
2027-01-15: 5 put and 9 call strikes within ±25%, IV 14% to 21%31%9%−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 (9%–31%), set by the expiries past 7 DTE.

Expiry window · 0–120 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
2026-09-18 Fri02026-08-21insideno earnings (ETF)23.2% p 41.5—
2026-09-25 Friweekly72026-08-28insideno earnings (ETF)21.2% p 41.5—
2026-10-02 Friweekly142026-09-04insideno earnings (ETF)19.7% p 41.5—
2026-10-09 Friweekly212026-09-11insideno earnings (ETF)19.5% p 41.5—
2026-10-16 Fri282026-09-180dno earnings (ETF)12.8% c 42—
2026-10-23 Friweekly352026-09-257dno earnings (ETF)no IV at 41.5—
2026-10-30 Friweekly422026-10-0214dno earnings (ETF)19.2% p 41.5—
2026-11-20 Fri632026-10-2335dno earnings (ETF)14.4% c 42—
2026-12-18 Fri912026-11-2063dno earnings (ETF)15.0% c 41.5—
2027-01-15 Fri1192026-12-1891dno earnings (ETF)14.1% c 41.5—

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 XLU 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
-$40.3m per 1%
own all (<3y) 0.8% · n=64
gamma flip
$42.34
flip within ±25% of book spot
flip distance
+1.03 ATR
own all (<3y) 92.1% · n=57
0DTE share of volume
not listed daily

book spot $41.69 (unadjusted close, 2026-09-17) · call wall $42.00 (+0.74% from book spot) · put wall $42.00 (+0.74% from book spot) · max pain $42.00 (+0.74% 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 $41.69 × (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. XLU headlines $41.10, its newest unadjusted close, on 2026-09-18; the book was taken at $41.69 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 2026-10-16 expiry: 28 calendar days from 2026-09-18 (29 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 43 (Δ 0.23), put 40 (Δ -0.20).

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% move52515049484746454443424140393837363534put strike nearest 0.20 delta: 40call strike nearest 0.20 delta: 4319k019k3.1k3.1k25%10%10%25%-$3.9m+$3.9mγ flip 42.34max pain 42call wall 42put wall 42book spot 41.69strike 52 calls: OI 0 (+0) · vol 0 (at ask 0, at bid 0) · NBBO 0.00 × 0.66, spread no two-sided quote (zero bid) · Δ 0.00 puts: OI 0 (+0) · vol 0 (at ask 0, at bid 0) · NBBO 9.35 × 11.50, spread 20.6% of mid · Δ -0.95 no GEX (no side has both gamma and open interest)strike 51 calls: OI 1 (+0) · vol 0 (at ask 0, at bid 0) · NBBO 0.00 × 0.46, spread no two-sided quote (zero bid) · Δ 0.00 puts: OI 0 (+0) · vol 0 (at ask 0, at bid 0) · NBBO 9.05 × 10.25, spread 12.4% of mid · Δ -0.93 net GEX +$2 per 1% (calls +$2, puts +$0)strike 50 calls: OI 9 (+0) · vol 0 (at ask 0, at bid 0) · NBBO 0.00 × 0.13, spread no two-sided quote (zero bid) · Δ 0.00 puts: OI 0 (+0) · vol 0 (at ask 0, at bid 0) · NBBO 7.95 × 9.25, spread 15.1% of mid · Δ -0.91 net GEX +$50 per 1% (calls +$50, puts +$0)strike 49 calls: OI 3 (+0) · vol 0 (at ask 0, at bid 0) · NBBO 0.00 × 0.46, spread no two-sided quote (zero bid) · Δ 0.01 puts: OI 2 (+0) · vol 0 (at ask 0, at bid 0) · NBBO 6.35 × 8.15, spread 24.8% of mid · Δ -0.88 net GEX -$91 per 1% (calls +$38, puts -$128)strike 48 calls: OI 49 (+0) · vol 0 (at ask 0, at bid 0) · NBBO 0.00 × 0.05, spread no two-sided quote (zero bid) · Δ 0.02 puts: OI 1 (+0) · vol 0 (at ask 0, at bid 0) · NBBO 6.20 × 7.55, spread 19.6% of mid · Δ -0.85 net GEX +$1k per 1% (calls +$1k, puts -$76)strike 47 calls: OI 140 (+0) · vol 0 (at ask 0, at bid 0) · NBBO 0.00 × 0.05, spread no two-sided quote (zero bid) · Δ 0.02 puts: OI 12 (+0) · vol 0 (at ask 0, at bid 0) · NBBO 4.60 × 6.75, spread 37.9% of mid · Δ -0.83 net GEX +$4k per 1% (calls +$5k, puts -$1k)strike 46 calls: OI 8,814 (+0) · vol 2 (at ask 0, at bid 2, multi-leg 2) · NBBO 0.01 × 0.10, spread 163.6% of mid · Δ 0.02 puts: OI 37 (+0) · vol 0 (at ask 0, at bid 0) · NBBO 4.35 × 5.00, spread 13.9% of mid · Δ -0.82 net GEX +$422k per 1% (calls +$426k, puts -$4k)strike 45 calls: OI 4,683 (-632) · vol 910 (at ask 792, at bid 116, multi-leg 1) · NBBO 0.03 × 0.04, spread 28.6% of mid · Δ 0.04 puts: OI 172 (+0) · vol 1 (at ask 1, at bid 0, multi-leg 1) · NBBO 3.35 × 3.75, spread 11.3% of mid · Δ -0.79 net GEX +$392k per 1% (calls +$416k, puts -$23k)strike 44 calls: OI 10,578 (+1) · vol 47 (at ask 21, at bid 15, sweep 9, multi-leg 5) · NBBO 0.09 × 0.23, spread 87.5% of mid · Δ 0.12 puts: OI 632 (-1) · vol 18 (at ask 1, at bid 17, multi-leg 18) · NBBO 2.48 × 2.84, spread 13.5% of mid · Δ -0.76 net GEX +$1.9m per 1% (calls +$2.0m, puts -$114k)strike 43 calls: OI 8,104 (+805) · vol 2,116 (at ask 1,658, at bid 395, sweep 21, multi-leg 85) · NBBO 0.20 × 0.25, spread 22.2% of mid · Δ 0.23 puts: OI 2,945 (+3) · vol 18 (at ask 7, at bid 5, multi-leg 18) · NBBO 1.46 × 1.86, spread 24.1% of mid · Δ -0.70 net GEX +$1.8m per 1% (calls +$2.6m, puts -$781k)strike 42 calls: OI 18,559 (+15,688) · vol 1,526 (at ask 1,422, at bid 100, sweep 37, multi-leg 4) · NBBO 0.26 × 0.57, spread 74.7% of mid · Δ 0.43 puts: OI 14,225 (-261) · vol 219 (at ask 90, at bid 93, sweep 4, multi-leg 188) · NBBO 0.80 × 1.12, spread 33.3% of mid · Δ -0.54 net GEX +$3.9m per 1% (calls +$8.7m, puts -$4.8m)strike 41 calls: OI 128 (+44) · vol 33 (at ask 14, at bid 10, sweep 3, multi-leg 5) · NBBO 0.82 × 1.23, spread 40.0% of mid · Δ 0.68 puts: OI 2,860 (+35) · vol 424 (at ask 256, at bid 160, sweep 94, multi-leg 115) · NBBO 0.44 × 0.68, spread 42.9% of mid · Δ -0.34 net GEX -$906k per 1% (calls +$49k, puts -$955k)strike 40 calls: OI 48 (+0) · vol 1 (at ask 0, at bid 1) · NBBO 1.66 × 2.04, spread 20.5% of mid · Δ 0.87 puts: OI 12,322 (+268) · vol 3,137 (at ask 1, at bid 128, sweep 8, multi-leg 16) · NBBO 0.21 × 0.27, spread 25.0% of mid · Δ -0.20 net GEX -$2.8m per 1% (calls +$11k, puts -$2.8m)strike 39 calls: OI 34 (+0) · vol 0 (at ask 0, at bid 0) · NBBO 2.42 × 2.94, spread 19.4% of mid · Δ 0.93 puts: OI 181 (+0) · vol 3 (at ask 0, at bid 2, multi-leg 3) · NBBO 0.00 × 0.36, spread no two-sided quote (zero bid) · Δ -0.11 net GEX -$21k per 1% (calls +$4k, puts -$25k)strike 38 calls: OI 7 (+0) · vol 0 (at ask 0, at bid 0) · NBBO 3.15 × 4.05, spread 25.0% of mid · Δ 0.95 puts: OI 50 (+11) · vol 5 (at ask 5, at bid 0, multi-leg 5) · NBBO 0.00 × 0.30, spread no two-sided quote (zero bid) · Δ -0.05 net GEX -$3k per 1% (calls +$522, puts -$4k)strike 37 calls: OI 4 (+0) · vol 0 (at ask 0, at bid 0) · NBBO 3.75 × 5.35, spread 35.2% of mid · Δ 0.98 puts: OI 4 (+1) · vol 0 (at ask 0, at bid 0) · NBBO 0.00 × 0.09, spread no two-sided quote (zero bid) · Δ -0.02 net GEX -$6 per 1% (calls +$126, puts -$133)strike 36 calls: OI 105 (+0) · vol 0 (at ask 0, at bid 0) · NBBO 5.30 × 5.90, spread 10.7% of mid · Δ 0.99 puts: OI 2 (+0) · vol 2 (at ask 0, at bid 0, multi-leg 2) · NBBO 0.00 × 0.07, spread no two-sided quote (zero bid) · Δ -0.01 net GEX +$1k per 1% (calls +$1k, puts -$23)strike 35 calls: OI 18 (+0) · vol 3 (at ask 3, at bid 0) · NBBO 4.50 × 8.95, spread 66.2% of mid · Δ 1.00 puts: OI 4 (+0) · vol 0 (at ask 0, at bid 0) · NBBO 0.00 × 0.06, spread no two-sided quote (zero bid) · Δ -0.00 net GEX +$36 per 1% (calls +$48, puts -$12)strike 34 calls: OI 21 (+0) · vol 0 (at ask 0, at bid 0) · NBBO 5.15 × 9.90, spread 63.1% of mid · Δ 1.00 puts: OI 0 (+0) · vol 0 (at ask 0, at bid 0) · NBBO 0.00 × 0.07, spread no two-sided quote (zero bid) · Δ -0.00 net GEX +$11 per 1% (calls +$11, puts +$0)

2026-10-16 expiry, 19 strikes within ±25% of book spot (the flip search band); 3 hidden (3 above, 0 below), 1 of them with open interest. One row per listed strike: rows are evenly spaced, prices are not. Net GEX is this expiry's alone (+$4.6m 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.

Table view · 19 strikes
putsstrikecallsGEX, $ per 1%
ΔOIOImulti-legsweep@bid@askvolΔspraskbidbidasksprΔvol@ask@bidsweepmulti-legOIΔOIputcallnet
+0000000-0.9520.6%11.509.35520.000.66no two-sided quote0.00000000+0———
+0000000-0.9312.4%10.259.05510.000.46no two-sided quote0.00000001+0+$0+$2+$2
+0000000-0.9115.1%9.257.95500.000.13no two-sided quote0.00000009+0+$0+$50+$50
+0200000-0.8824.8%8.156.35490.000.46no two-sided quote0.01000003+0-$128+$38-$91
+0100000-0.8519.6%7.556.20480.000.05no two-sided quote0.020000049+0-$76+$1k+$1k
+01200000-0.8337.9%6.754.60470.000.05no two-sided quote0.0200000140+0-$1k+$5k+$4k
+03700000-0.8213.9%5.004.35460.010.10163.6%0.02202028,814+0-$4k+$426k+$422k
+017210011-0.7911.3%3.753.35450.030.0428.6%0.04910792116014,683-632-$23k+$416k+$392k
-163218017118-0.7613.5%2.842.48440.090.2387.5%0.124721159510,578+1-$114k+$2.0m+$1.9m
+32,9451805718-0.7024.1%1.861.46430.200.2522.2%0.232,1161,65839521858,104+805-$781k+$2.6m+$1.8m
-26114,22518849390219-0.5433.3%1.120.80420.260.5774.7%0.431,5261,42210037418,559+15,688-$4.8m+$8.7m+$3.9m
+352,86011594160256424-0.3442.9%0.680.44410.821.2340.0%0.6833141035128+44-$955k+$49k-$906k
+26812,32216812813,137-0.2025.0%0.270.21401.662.0420.5%0.871010048+0-$2.8m+$11k-$2.8m
+018130203-0.11no two-sided quote0.360.00392.422.9419.4%0.930000034+0-$25k+$4k-$21k
+115050055-0.05no two-sided quote0.300.00383.154.0525.0%0.95000007+0-$4k+$522-$3k
+1400000-0.02no two-sided quote0.090.00373.755.3535.2%0.98000004+0-$133+$126-$6
+0220002-0.01no two-sided quote0.070.00365.305.9010.7%0.9900000105+0-$23+$1k+$1k
+0400000-0.00no two-sided quote0.060.00354.508.9566.2%1.003300018+0-$12+$48+$36
+0000000-0.00no two-sided quote0.070.00345.159.9063.1%1.000000021+0+$0+$11+$11