Utilities

Xcel Energy Inc (XEL) options and signal

Figures as of 28 Sep 2026

XEL is Xcel Energy Inc, an Utilities name the model ranks every trading day. The options figures are from the close on 28 Sep 2026. The model's figures are from 25 Sep 2026, one trading day behind the latest, as the Free plan shows them. Every model figure is paper trading.

Membership gets tonight's signals the night they publish. Free gets every options screen, never delayed, and the signals one trading day behind.

Start free See the plans

At a glance

Figure	Value	Date
IV rank	66 of 100	28 Sep
At the money IV	34.7%	28 Sep
Priced move to 16 Oct	8.6% down, 7.7% up	28 Sep
Call wall and put wall	75 and 65	28 Sep
Signal and the desk's view	No signal, view bullish	25 Sep
Last close	69.39	28 Sep
Next report	29 Oct 2026	28 Sep

Options Snapshot

XEL's IV rank is 66 of 100 on 28 Sep 2026.

Figure	Value
IV rank	66 of 100
At the money IV	34.7%, near month, 18 days
Put/call ratio, open interest	9.71
Call open interest, strikes captured near the price	17,400 contracts
Put open interest, strikes captured near the price	169,000 contracts
Cost to trade at the money	Wide, 84.3% of the option's mid price

IV rank is where the at the money IV sits among XEL's own weekly readings, 0 the lowest and 100 the highest.

From the option chain at the close on 28 Sep 2026. Current on every plan.

Open Options Snapshot in RingMaster The Options Snapshot guide

Priced Range

On 28 Sep 2026, XEL options priced a move of 8.6 percent down and 7.7 percent up by 16 Oct 2026.

Expiry	Days	Down	Up	Range
16 Oct 2026	18	8.6%	7.7%	63.39 to 74.73
20 Nov 2026	53	12.2%	11.3%	60.95 to 77.24
18 Dec 2026	81	14.3%	13.7%	59.46 to 78.87
15 Jan 2027	109	17.4%	19.3%	57.29 to 82.79
19 Mar 2027	172	21.0%	23.2%	54.79 to 85.49

The range is one standard deviation either side of the close of 69.39, as the option prices imply it.

A priced move restates option prices at the close and says nothing certain about where the price goes.

From the option chain at the close on 28 Sep 2026. Current on every plan.

Open Priced Range in RingMaster The Priced Range guide

Gamma Map

On 28 Sep 2026, XEL's call wall is the 75 strike and its put wall is the 65 strike.

Figure	Value
Call wall, most open call gamma	75
Put wall, most open put gamma	65
Flip strike, where net gamma changes sign	79.41
Net dollar gamma, calls minus puts	minus $21.12 million
Total dollar gamma, both sides	$25.15 million
Close	69.39

Dollar gamma is stated for a one percent move in the price.

Net is calls minus puts under the standard convention, not a record of who holds the contracts.

From the option chain at the close on 28 Sep 2026. Current on every plan.

Open Gamma Map in RingMaster The Gamma Map guide

Volatility History

On 28 Sep 2026, XEL's at the money IV is 34.7 percent against 20 day realized volatility of 17.6 percent.

Figure	Value
At the money IV	34.7%
Realized volatility, 20 trading days	17.6%
Realized volatility, 60 trading days	17.3%
IV against its own weekly record	In the middle
Weekly readings on record	695, from 8 Jan 2010
Weeks the price moved more than the one week priced move	22.5% of 222 weeks

Realized volatility is worked out from the daily closes the desk holds, not from the option chain.

From the option chain at the close on 28 Sep 2026. Current on every plan.

Open Volatility History in RingMaster The Volatility History guide

Volatility Weather

On 28 Sep 2026, XEL's at the money IV runs from 34.7 percent at 18 days to 33.8 percent at 172 days.

Days to expiry	At the money IV
18	34.7%
53	29.7%
81	29.0%
109	35.2%
172	33.8%

Near and far expiries price about the same volatility, a flat term structure.

From the option chain at the close on 28 Sep 2026. Current on every plan.

Open Volatility Weather in RingMaster The Volatility Weather guide

Volatility Smile

On 28 Sep 2026, at the 53 day expiry, XEL's IV ten percent below the price sits 90.3 points above at the money IV.

Strike area	Implied volatility	Against at the money
10% below the price	120.0%	+90.3 points
At the money	29.7%	0.0 points
10% above the price	27.7%	-2.0 points

From the option chain at the close on 28 Sep 2026. Current on every plan.

Open Volatility Smile in RingMaster The Volatility Smile guide

Volatility Surface

On 28 Sep 2026, XEL's surface spans 5 expiries out to 172 days, with IV from 27.7 to 43.1 percent near the price.

Figure	Value
Expiries captured	5
Nearest expiry	16 Oct 2026, 18 days
Farthest expiry	19 Mar 2027, 172 days
Points within 10% of the price, 7 days out or more	15
Lowest IV among them	27.7%
Highest IV among them	43.1%

From the option chain at the close on 28 Sep 2026. Current on every plan.

Open Volatility Surface in RingMaster The Volatility Surface guide

Expiry Ladder

On 28 Sep 2026, XEL has 5 captured expiries, from 16 Oct 2026 to 19 Mar 2027.

Expiry	Days	At the money IV	Call open interest	Put open interest
16 Oct 2026	18	34.7%	1,976	3,940
20 Nov 2026	53	29.7%	3,485	21,882
18 Dec 2026	81	29.0%	2,346	17,010
15 Jan 2027	109	35.2%	7,202	72,428
19 Mar 2027	172	33.8%	2,348	53,452

Open interest is summed over the strikes captured near the price on each expiry.

From the option chain at the close on 28 Sep 2026. Current on every plan.

Open Expiry Ladder in RingMaster The Expiry Ladder guide

Strike Table

On 28 Sep 2026, XEL's largest open interest sits at the 65 strike, with 65,579 contracts across the captured expiries.

Strike	Call open interest	Put open interest	Total
65	147	65,432	65,579
70	2,545	46,830	49,375
60	10	27,140	27,150
75	3,046	23,610	26,656
90	6,592	0	6,592
80	3,836	77	3,913

From the option chain at the close on 28 Sep 2026. Current on every plan.

Open Strike Table in RingMaster The Strike Table guide

Since Yesterday

From 25 Sep 2026 to 28 Sep 2026, XEL's at the money IV moved from 31.2 percent to 34.7 percent.

Figure	25 Sep	28 Sep	Change
At the money IV	31.2%	34.7%	+3.5 points
Open interest, strikes captured near the price	183,838	186,069	+2,231
Put/call ratio, open interest	9.65	9.72	+0.07

Open interest changes cannot identify buyers or sellers.

From the option chain at the close on 28 Sep 2026. Current on every plan.

Open Since Yesterday in RingMaster The Since Yesterday guide

Changed Hands

On 28 Sep 2026, 3,301 XEL option contracts traded, 0.7 times its own recent average.

Figure	Value
Calls traded	832
Puts traded	2,469
Against its recent average	0.7 times
Busier than	8 of its last 20 trading days
Open interest, whole chain	191,483 contracts
Volume to open interest	0.02
Unusual volume flag	No

Traded volume and open interest are shown side by side and never combined. Open interest changes cannot identify buyers or sellers.

From the option chain at the close on 28 Sep 2026. Current on every plan.

Open Changed Hands in RingMaster The Changed Hands guide

Positioning Replay

The replay holds 33 trading days of XEL's option positioning, from 11 Aug 2026 to 28 Sep 2026.

Date	Close	Net dollar gamma	Top call strike	Top put strike
11 Aug 2026	77.66	minus $1.11 million	80	65
21 Sep 2026	71.85	minus $18.67 million	75	65
28 Sep 2026	69.39	minus $21.12 million	75	65

Each frame restates one nightly capture. Net is calls minus puts, a convention, not who holds the contracts.

From the option chain at the close on 28 Sep 2026. Current on every plan.

Open Positioning Replay in RingMaster The Positioning Replay guide

Read-out

On 25 Sep 2026 the desk's view of XEL was bullish, paper trading.

Figure	Value
Side	Bullish at 45 trading days, no signal
Level above the close	72.29, the swing high of 15 Sep 2026
Level below the close	68.72, the swing low of 25 Sep 2026, a close past it runs against the view
The chart	Sits against the view
Strategy family	Cash-secured put (sell a put below the price)
Price target	None. The desk has no price model.

The levels are prices the shares turned at on the chart, with the date of each.

Paper trading. The model's figures from 25 Sep 2026, one trading day behind, as the Free plan shows them.

Open Read-out in RingMaster The Read-out guide

Rank by Timeframe

On 25 Sep 2026 XEL sat at the 71st percentile of the model's 45 trading day ranking, paper trading.

Timeframe	Percentile	Side
10 trading days	27 of 100	Neutral
20 trading days	31 of 100	Neutral
45 trading days	71 of 100	Neutral

100 is the top of the ranking. A name in the middle three fifths is neutral.

Paper trading. The model's figures from 25 Sep 2026, one trading day behind, as the Free plan shows them.

Open Rank by Timeframe in RingMaster The Rank by Timeframe guide

Timeframe Agreement

On 25 Sep 2026 XEL's near timeframes were neutral and its long timeframe was neutral, paper trading.

Group	Timeframes	Side	On that side
Near	10 day, 20 day	Neutral	0 of 2
Long	45 day	Neutral	0 of 1

Paper trading. The model's figures from 25 Sep 2026, one trading day behind, as the Free plan shows them.

Open Timeframe Agreement in RingMaster The Timeframe Agreement guide

Signal History

On 25 Sep 2026 XEL had carried no signal for at least 18 trading days, paper trading.

Trading day	Signal	45 day percentile
25 Sep 2026	None	71 of 100
24 Sep 2026	None	71 of 100
23 Sep 2026	None	77 of 100
22 Sep 2026	None	60 of 100
21 Sep 2026	None	56 of 100
18 Sep 2026	None	75 of 100
17 Sep 2026	None	51 of 100
16 Sep 2026	None	55 of 100

Paper trading. The model's figures from 25 Sep 2026, one trading day behind, as the Free plan shows them.

Open Signal History in RingMaster The Signal History guide

Sector Split

On 25 Sep 2026, 20 of 35 Utilities names were bullish and 11 were bearish, paper trading.

Sector	Names	Bullish	Bearish	Neutral
Utilities	35	20	11	4

Paper trading. The model's figures from 25 Sep 2026, one trading day behind, as the Free plan shows them.

Open Sector Split in RingMaster The Sector Split guide

Price Chart

XEL closed at 69.39 on 28 Sep 2026.

Figure	Value
Last close	69.39
Change over 5 trading days	-3.4%
Change over 21 trading days	-10.1%
Change over 63 trading days	-15.4%
Change over 252 trading days	-10.2%
52 week high	84.23
52 week low	68.72
20 day moving average	73.59
50 day moving average	76.51
200 day moving average	78.15
RSI, 14 days	26

Worked out from the desk's own daily bars, adjusted for share splits.

From the daily bars through 28 Sep 2026. Current on every plan.

Open Price Chart in RingMaster The Price Chart guide

Earnings Radar

XEL reports next on 29 Oct 2026, a date confirmed by the company.

Figure	Value
Next report	29 Oct 2026, before the open
Date	Confirmed by the company
Move after the report of 30 Jul 2026	-0.7%
Move after the report of 30 Apr 2026	-0.5%
Move after the report of 28 Jan 2026	-0.1%
Move after the report of 24 Apr 2025	-1.8%

Earnings calendar as of 28 Sep 2026. Current on every plan.

Open Earnings Radar in RingMaster The Earnings Radar guide

Short Volume

On 25 Sep 2026, 51.9 percent of XEL's reported volume at the covered venues was marked short.

Figure	Value
Short sale share, 25 Sep	51.9%
Five day average	56.5%
52 week median	48.9%
Short interest, share of shares outstanding	6.6% at the 15 Sep 2026 settlement
Days to cover	7.0

Short sale volume counts trades marked short at the covered venues, mostly off exchange. It is not the same as short interest.

Short volume as of 25 Sep 2026. Current on every plan.

Open Short Volume in RingMaster The Short Volume guide

Seasonality

In the 23 Septembers on record, XEL's average change was minus 0.2 percent, and it rose in 43.5 percent of them.

Month	Average change	Middle change	Share of years up	Years
September	-0.2%	-0.7%	43.5%	23
October	+1.8%	+2.3%	78.3%	23
November	+1.8%	+1.7%	69.6%	23

Each figure is a month end to month end change in past years. A past month says nothing certain about the next one.

Monthly history through 28 Sep 2026. Current on every plan.

Open Seasonality in RingMaster The Seasonality guide

Questions

What is XEL's IV rank?: XEL's IV rank is 66 of 100 on 28 Sep 2026.
What move are XEL options pricing?: On 28 Sep 2026, XEL options priced a move of 8.6 percent down and 7.7 percent up by 16 Oct 2026.
Where are XEL's call wall and put wall?: On 28 Sep 2026, XEL's call wall is the 75 strike and its put wall is the 65 strike.
What was the desk's latest view of XEL on the Free plan?: On 25 Sep 2026 the desk's view of XEL was bullish, paper trading.
When does XEL report earnings next?: XEL reports next on 29 Oct 2026, a date confirmed by the company.

More Utilities names

Guides and the full list

Membership gets tonight's signals the night they publish. Free gets every options screen, never delayed, and the signals one trading day behind.

Start free See the plans