GOVT Options History — January 2026

In January 2026, GOVT traded between $22.95 and $23.11. ATM implied volatility averaged 7.6%, placing in the 6.8% IV rank vs the trailing year. The 30-day expected move averaged 2.4%. IV traded above realized volatility by 5.0% (HV 20d: 2.6%). Max pain ranged from $23.00 to $23.00. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 16 of 20 days. Put/call ratio averaged 5.52.

Notable Days

  • 2026-01-21: Highest Volume — 106 contracts
  • 2026-01-27: Largest IV spike — 827.2% change
  • 2026-01-27: Highest IV Rank — 50.6%
  • 2026-01-27: Largest Expected Move — 10.8%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$23.04$22.95$23.11$23.02$23.05
Max Pain$23.00$23.00$23.00$23.00$23.00
ATM IV7.6%3.3%37.5%4.8%3.8%
Expected Move2.4%0.9%10.8%1.4%1.1%
HV 20d2.6%2.4%2.9%2.9%2.4%
HV 60d3.2%3.0%3.4%3.4%3.0%
IV Rank6.8%0.4%50.6%2.7%1.2%
IV Percentile33.9%1.6%96.8%31.7%11.1%
Term Structure-3.4%-41.6%2.8%-0.4%0.8%
VWIV3.7%3.1%4.1%3.8%3.1%
Skew 25d1.1%-19.8%21.1%-0.2%4.7%
Skew 10d3.4%-7.6%18.6%0.5%9.6%
Call IV 25d11.3%5.3%56.7%8.4%6.9%
Put IV 25d12.5%5.0%57.6%8.2%11.5%
Bid-Ask Spread %37.996.92142.2719.6619.66
Gamma HHI0.500.480.590.480.48
Net GEX162.7K101.4K183.5K177.8K101.4K
Net DEX-421.3K-636.1K32.3K-601.3K32.3K
Net VEX-2.9K-4.4K-1.7K-3.5K-1.9K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio5.520.0040.000.007.00
Total Volume18.9110631
Total OI1,4091,3491,5561,3491,475

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2026-01-02$23.02$23.004.8%1.4%2.9%2.7%0.0%-0.2%-0.4%177.8K-601.3K-3.5K0.0019.66301,248101
2026-01-05$23.05$23.004.6%1.4%2.8%2.4%0.0%0.2%0.2%179.2K-595.2K-3.2K0.0015.29201,250101
2026-01-06$23.05$23.004.0%1.3%2.7%1.4%0.0%0.1%0.3%180.2K-606.2K-3.5K0.0033.63201,248101
2026-01-07$23.09$23.004.0%1.2%2.7%1.5%0.0%-0.3%0.6%183.5K-636.1K-3.5K7.506.922151,248101
2026-01-08$23.04$23.003.5%1.4%2.8%0.8%0.0%0.1%0.2%181.7K-562.2K-3.3K0.0012.28101,247112
2026-01-09$23.05$23.004.8%1.2%2.7%2.6%0.0%-0.0%0.7%178.5K-567.1K-3.2K1.0030.97111,248112
2026-01-12$23.04$23.006.4%6.5%2.7%5.0%0.0%21.1%1.1%180.4K-606.1K-3.1K0.0064.21011,248113
2026-01-13$23.06$23.007.3%1.1%2.6%6.3%0.0%-0.4%0.4%182.3K-571.2K-3.1K1.0036.93111,248114
2026-01-14$23.11$23.004.0%1.2%2.7%1.5%0.0%2.4%0.4%180.6K-553.9K-2.8K0.5036.37211,249115
2026-01-15$23.07$23.004.1%1.2%2.7%1.6%0.0%-0.4%0.1%182.1K-512.1K-2.7K0.008.692001,249115
2026-01-16$23.02$23.004.4%1.3%2.8%2.0%0.0%4.8%0.2%175.0K-462.1K-2.7K40.0013.542801,250115
2026-01-20$22.95$23.0013.8%4.0%2.9%15.9%0.0%-8.6%-17.0%109.0K-143.4K-1.7K1.0032.49111,238194
2026-01-21$22.99$23.004.8%1.4%2.5%2.6%0.0%0.2%2.8%148.3K-256.0K-2.5K14.1436.597991,241195
2026-01-22$23.01$23.0024.8%7.1%2.5%32.0%0.0%-19.8%-41.6%156.7K-243.9K-2.4K0.12102.581721,244214
2026-01-23$23.04$23.003.8%1.1%2.5%1.3%3.8%-0.3%0.7%150.6K-278.7K-2.4K0.0010.00601,254215
2026-01-26$23.06$23.004.0%1.2%2.4%1.6%4.1%4.0%0.2%164.0K-309.4K-2.5K0.0910.041111,260215
2026-01-27$23.05$23.0037.5%10.8%2.4%50.6%0.0%0.9%-18.0%118.1K-578.4K-4.4K0.00142.27501,257216
2026-01-28$23.02$23.003.3%0.9%2.4%0.4%3.1%10.2%0.4%173.8K-268.7K-2.3K27.00116.663811,257216
2026-01-29$23.05$23.004.3%1.2%2.5%2.0%0.0%4.4%0.0%150.3K-106.1K-2.4K7.0011.09171,259297
2026-01-30$23.05$23.003.8%1.1%2.4%1.2%0.0%4.7%0.8%101.4K32.3K-1.9K0.0019.66011,171304