GOVT Options History — February 2026

In February 2026, GOVT traded between $22.94 and $23.38. ATM implied volatility averaged 5.2%, placing in the 3.3% IV rank vs the trailing year. The 30-day expected move averaged 1.5%. IV traded above realized volatility by 1.7% (HV 20d: 3.5%). Max pain ranged from $23.00 to $23.00. Net GEX was positive for 19 of 19 trading days. Term structure was in contango for 14 of 19 days. Put/call ratio averaged 0.64.

Notable Days

  • 2026-02-18: Highest Volume — 102 contracts
  • 2026-02-20: Largest IV spike — 555.5% change
  • 2026-02-20: Highest IV Rank — 36.5%
  • 2026-02-20: Largest Expected Move — 8.0%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$23.16$22.94$23.38$22.94$23.38
Max Pain$23.00$23.00$23.00$23.00$23.00
ATM IV5.2%2.9%27.9%3.7%4.4%
Expected Move1.5%0.9%8.0%1.1%1.3%
HV 20d3.5%2.9%3.9%2.9%3.8%
HV 60d3.3%3.0%3.4%3.2%3.1%
IV Rank3.3%0.0%36.5%1.1%2.1%
IV Percentile22.1%0.0%94.4%10.7%27.8%
Term Structure-0.3%-47.6%27.5%0.4%-0.1%
VWIV5.1%2.5%11.4%4.3%11.4%
Skew 25d0.5%-1.4%3.0%0.2%0.8%
Skew 10d1.9%0.2%8.3%0.2%2.2%
Call IV 25d5.9%4.4%13.5%7.0%5.2%
Put IV 25d6.4%3.2%13.1%7.2%5.9%
Bid-Ask Spread %28.535.3264.6138.9534.79
Gamma HHI0.520.480.700.500.54
Net GEX142.8K83.7K172.6K83.7K172.6K
Net DEX-206.5K-475.8K161.3K161.3K-475.8K
Net VEX-2.8K-3.7K-1.6K-1.6K-3.5K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.640.007.000.000.00
Total Volume20.10501028425
Total OI1,526.8421,4541,5811,4541,546

Daily Data (19 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2026-02-02$22.94$23.003.7%1.1%2.9%1.1%0.0%0.2%0.4%83.7K161.3K-1.6K0.0038.958401,149305
2026-02-03$22.95$23.004.1%1.2%2.9%1.6%4.3%0.6%1.1%121.8K19.0K-2.2K1.0029.43111,222294
2026-02-04$22.94$23.003.0%0.9%2.9%0.0%2.5%-0.4%1.2%105.1K86.3K-1.6K7.005.32171,223295
2026-02-05$23.04$23.003.9%1.3%3.2%1.4%0.0%0.9%0.0%139.0K-64.4K-2.5K0.0035.35011,223301
2026-02-06$23.04$23.004.1%1.2%3.1%1.7%0.0%0.7%0.5%142.7K-77.1K-2.6K0.0036.72201,223302
2026-02-09$23.05$23.002.9%1.3%3.1%0.0%0.0%0.8%0.4%148.6K-89.2K-2.6K0.0020.40001,223302
2026-02-10$23.13$23.004.4%1.2%3.4%2.2%0.0%3.0%0.3%152.6K-140.8K-2.5K0.0026.19101,223302
2026-02-11$23.07$23.004.0%1.1%3.5%1.6%0.0%0.5%0.6%152.8K-109.5K-2.5K0.0064.61201,223302
2026-02-12$23.18$23.003.5%1.0%3.8%0.8%3.2%-1.4%0.5%155.3K-240.0K-2.9K0.0011.40011,224302
2026-02-13$23.26$23.003.4%1.0%3.9%0.7%0.0%0.9%27.5%152.1K-317.2K-3.4K0.0025.95201,224302
2026-02-17$23.26$23.003.7%1.1%3.8%1.1%0.0%0.9%1.3%155.0K-334.1K-3.4K0.008.45101,224302
2026-02-18$23.21$23.003.9%1.1%3.7%1.5%0.0%-1.3%8.5%132.1K-270.2K-2.5K0.0044.5910201,224302
2026-02-19$23.23$23.004.3%1.2%3.7%1.9%0.0%-1.2%-0.0%150.7K-286.6K-3.0K0.006.58001,233302
2026-02-20$23.21$23.0027.9%8.0%3.7%36.5%0.0%1.3%-47.6%131.9K-346.6K-3.5K1.0059.76221,233302
2026-02-23$23.27$23.004.1%1.2%3.8%1.7%0.0%1.3%1.1%136.9K-403.8K-3.7K0.0037.22001,225301
2026-02-24$23.27$23.005.3%1.5%3.8%3.5%6.4%0.8%-1.5%148.5K-303.7K-3.2K0.0013.847001,225301
2026-02-25$23.27$23.003.6%1.0%3.8%1.0%2.9%1.3%2.1%165.6K-377.1K-3.3K0.0025.103601,280301
2026-02-26$23.30$23.004.9%1.4%3.7%2.8%5.1%-0.6%-0.8%165.7K-354.1K-2.6K0.0017.394101,244301
2026-02-27$23.38$23.004.4%1.3%3.8%2.1%11.4%0.8%-0.1%172.6K-475.8K-3.5K0.0034.792501,245301