Options

XLC options

Figures as of 28 Sep 2026

The options figures are from the close on 28 Sep 2026.

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At a glance

FigureValueDate
IV rank77 of 10028 Sep
At the money IV25.8%28 Sep
Priced move to 30 Oct7.6% down, 7.6% up28 Sep
Call wall and put wall118 and 11028 Sep
Last close111.1828 Sep

Options Snapshot

XLC's IV rank is 77 of 100 on 28 Sep 2026.

FigureValue
IV rank77 of 100
At the money IV25.8%, near month, 32 days
Put/call ratio, open interest1.34
Call open interest, strikes captured near the price24,200 contracts
Put open interest, strikes captured near the price32,500 contracts
Cost to trade at the moneyWide, 146.0% of the option's mid price

IV rank is where the at the money IV sits among XLC'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.

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Priced Range

On 28 Sep 2026, XLC options priced a move of 7.6 percent down and 7.6 percent up by 30 Oct 2026.

ExpiryDaysDownUpRange
2 Oct 202647.5%7.5%102.87 to 119.49
9 Oct 2026115.7%5.7%104.85 to 117.51
23 Oct 2026258.0%9.0%102.30 to 121.18
30 Oct 2026327.6%7.6%102.68 to 119.68
20 Nov 2026539.8%11.2%100.28 to 123.58
18 Dec 20268116.5%15.7%92.78 to 128.68
19 Mar 202717216.4%18.9%92.98 to 132.18

The range is one standard deviation either side of the close of 111.18, 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.

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Gamma Map

On 28 Sep 2026, XLC's call wall is the 118 strike and its put wall is the 110 strike.

FigureValue
Call wall, most open call gamma118
Put wall, most open put gamma110
Net dollar gamma, calls minus putsminus $1.89 million
Total dollar gamma, both sides$17.19 million
Close111.18

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.

Net gamma changes sign at 5 strikes, so no single flip strike is named.

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

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Volatility History

On 28 Sep 2026, XLC's at the money IV is 25.8 percent against 20 day realized volatility of 22.3 percent.

FigureValue
At the money IV25.8%
Realized volatility, 20 trading days22.3%
Realized volatility, 60 trading days20.8%
IV against its own weekly recordIn the middle
Weekly readings on record400, from 17 Aug 2018
Weeks the price moved more than the one week priced move24.2% of 236 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.

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Volatility Weather

On 28 Sep 2026, XLC's at the money IV runs from 71.4 percent at 4 days to 30.6 percent at 172 days.

Days to expiryAt the money IV
471.4%
1132.8%
1821.3%
2530.5%
3927.1%
5329.3%
8128.7%
17230.6%

Near expiries price more volatility than far ones, an inverted term structure.

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

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Volatility Surface

On 28 Sep 2026, XLC's surface spans 10 expiries out to 172 days, with IV from 20.3 to 71.8 percent near the price.

FigureValue
Expiries captured10
Nearest expiry2 Oct 2026, 4 days
Farthest expiry19 Mar 2027, 172 days
Points within 10% of the price, 7 days out or more149
Lowest IV among them20.3%
Highest IV among them71.8%

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

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Expiry Ladder

On 28 Sep 2026, XLC has 10 captured expiries, from 2 Oct 2026 to 19 Mar 2027.

ExpiryDaysAt the money IVCall open interestPut open interest
2 Oct 2026471.4%3,4331,811
9 Oct 20261132.8%204175
16 Oct 20261821.3%3,4351,584
23 Oct 20262530.5%84115
30 Oct 20263225.8%18472
6 Nov 20263927.1%0170
20 Nov 20265329.3%1,63662
18 Dec 20268128.7%8,8518,830
15 Jan 202710926.1%5,76718,465
19 Mar 202717230.6%6501,249

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.

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Strike Table

On 28 Sep 2026, XLC's largest open interest sits at the 115 strike, with 6,785 contracts across the captured expiries.

StrikeCall open interestPut open interestTotal
1153,0483,7376,785
1107395,7286,467
1184,91604,916
1004273,7484,175
1202,8564693,325
106643,1283,192

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

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Since Yesterday

From 25 Sep 2026 to 28 Sep 2026, XLC's at the money IV moved from 33.3 percent to 25.8 percent.

Figure25 Sep28 SepChange
At the money IV33.3%25.8%-7.5 points
Open interest, strikes captured near the price55,36356,777+1,414
Put/call ratio, open interest1.381.34-0.03

Open interest changes cannot identify buyers or sellers.

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

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Changed Hands

On 28 Sep 2026, 6,004 XLC option contracts traded, 0.6 times its own recent average.

FigureValue
Calls traded1,497
Puts traded4,507
Against its recent average0.6 times
Busier than8 of its last 20 trading days
Open interest, whole chain57,012 contracts
Volume to open interest0.11
Unusual volume flagYes, 1 contract traded well above open interest
Largest flagged contractThe 110 put expiring 2 Oct, 811 traded against 202 open

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.

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Positioning Replay

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

DateCloseNet dollar gammaTop call strikeTop put strike
11 Aug 2026111.27minus $52.45 million118104
21 Sep 2026114.75minus $1.57 million118110
28 Sep 2026111.18minus $1.89 million118110

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.

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Price Chart

XLC closed at 112.96 on 25 Sep 2026.

FigureValue
Last close112.96
Change over 5 trading days+2.3%
Change over 21 trading days+0.6%
Change over 63 trading days+6.7%
Change over 252 trading days-2.6%
52 week high119.32
52 week low104.69
20 day moving average112.36
50 day moving average111.00
200 day moving average113.23
RSI, 14 days52

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

The desk's own daily bars run to 25 Sep 2026. The options figures on this page are from the close on 28 Sep 2026.

From the daily bars through 25 Sep 2026. Current on every plan.

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Questions

What is XLC's IV rank?
XLC's IV rank is 77 of 100 on 28 Sep 2026.
What move are XLC options pricing?
On 28 Sep 2026, XLC options priced a move of 7.6 percent down and 7.6 percent up by 30 Oct 2026.
Where are XLC's call wall and put wall?
On 28 Sep 2026, XLC's call wall is the 118 strike and its put wall is the 110 strike.

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