GOVT Options History — March 2026

In March 2026, GOVT traded between $22.77 and $23.20. ATM implied volatility averaged 17.6%, placing in the 20.3% IV rank vs the trailing year. The 30-day expected move averaged 6.0%. IV traded above realized volatility by 12.8% (HV 20d: 4.7%). Max pain ranged from $23.00 to $23.00. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 9 of 22 days. Put/call ratio averaged 2.67.

Notable Days

  • 2026-03-27: Highest Volume — 200 contracts
  • 2026-03-23: Largest IV spike — 5020.0% change
  • 2026-03-27: Highest IV Rank — 100.0%
  • 2026-03-27: Largest Expected Move — 22.7%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$22.98$22.77$23.20$23.20$22.95
Max Pain$23.00$23.00$23.00$23.00$23.00
ATM IV17.6%1.0%79.2%5.6%51.0%
Expected Move6.0%1.1%22.7%1.6%14.6%
HV 20d4.7%4.3%5.3%4.9%5.1%
HV 60d3.8%3.5%4.2%3.5%4.2%
IV Rank20.3%0.0%100.0%3.9%63.0%
IV Percentile47.9%0.0%100.0%56.3%97.6%
Term Structure-1.5%-53.7%34.6%-1.2%-2.3%
VWIV9.4%4.0%39.5%4.8%5.9%
Skew 25d10.3%-22.3%53.3%-1.6%35.0%
Skew 10d16.3%-8.9%48.1%1.8%48.1%
Call IV 25d10.8%5.9%34.5%6.6%7.7%
Put IV 25d21.0%5.0%59.2%5.0%42.7%
Bid-Ask Spread %14.795.1334.2615.245.13
Gamma HHI0.590.360.740.490.49
Net GEX127.6K6.4K247.7K162.7K17.0K
Net DEX-178.1K-498.6K163.2K-287.0K16.5K
Net VEX-2.2K-3.6K-1.1K-2.5K-2.3K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio2.670.0039.000.250.40
Total Volume21.818020057
Total OI1,361.7271,0041,5411,5411,203

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2026-03-02$23.20$23.005.6%1.6%4.9%3.9%4.8%-1.6%-1.2%162.7K-287.0K-2.5K0.2515.24411,240301
2026-03-03$23.19$23.004.4%1.3%4.5%2.2%4.0%-0.7%0.9%158.8K-498.6K-2.5K0.0030.77201,237216
2026-03-04$23.16$23.0031.6%9.1%4.6%42.0%0.0%-4.4%-53.7%150.2K-415.5K-2.7K0.0034.26001,237216
2026-03-05$23.11$0.004.3%6.3%4.6%1.9%39.5%-13.3%-34.6%178.6K-403.4K-2.2K0.0021.681201,237216
2026-03-06$23.09$23.004.9%1.7%4.4%2.9%5.8%14.5%-0.3%171.9K-395.1K-2.5K0.0018.620411,238216
2026-03-09$23.16$23.0037.3%9.7%4.5%50.3%0.0%53.3%-0.2%128.9K-436.8K-2.9K0.0016.82101,238255
2026-03-10$23.09$23.004.7%6.9%4.7%2.5%0.0%-0.2%-10.3%185.1K-349.4K-2.4K0.0020.11101,239255
2026-03-11$22.99$23.005.0%1.4%4.7%3.0%5.0%0.1%8.7%178.7K-313.8K-3.0K0.0011.96031,238255
2026-03-12$22.94$23.0024.2%1.7%4.7%31.1%0.0%-19.0%-36.5%117.4K-58.9K-1.5K0.006.59901,238258
2026-03-13$22.91$23.005.1%1.9%4.3%3.1%0.0%23.9%1.0%188.5K-103.3K-2.4K0.0017.38801,245258
2026-03-16$22.99$23.002.9%1.4%4.3%0.0%5.0%22.1%0.4%173.7K-192.9K-2.0K0.3311.74621,253258
2026-03-17$23.02$23.003.2%1.5%4.4%0.4%0.0%0.1%0.3%212.1K-241.6K-2.1K0.0013.25101,257260
2026-03-18$22.95$23.006.0%1.6%4.4%4.5%0.0%0.2%-0.3%247.7K-108.7K-2.0K0.0011.030321,257260
2026-03-19$22.95$23.003.1%13.2%4.4%0.2%0.0%-22.3%-9.6%226.4K-85.2K-1.8K0.0017.57201,257267
2026-03-20$22.80$23.001.0%13.7%4.9%0.0%0.0%5.2%10.1%84.5K121.3K-1.3K0.225.8045101,259267
2026-03-23$22.86$23.0051.2%1.7%4.9%70.6%0.0%30.6%31.1%38.3K1.8K-2.3K0.1824.97112777227
2026-03-24$22.80$23.002.8%2.0%4.9%0.0%6.9%31.7%-1.3%6.4K163.2K-1.1K1.755.4647787228
2026-03-25$22.88$23.002.8%1.8%5.2%0.0%0.0%31.8%32.3%42.4K20.9K-2.2K0.0016.5810789232
2026-03-26$22.77$23.003.8%1.1%5.3%1.3%0.0%2.5%34.6%62.0K-342.3K-3.6K0.005.29540790232
2026-03-27$22.77$23.0079.2%22.7%5.0%100.0%7.4%0.2%-0.8%47.5K-36.7K-2.1K39.008.385195844232
2026-03-30$22.88$23.0052.1%14.9%4.9%64.5%0.0%35.9%-0.4%29.1K28.3K-2.2K6.006.70212849340
2026-03-31$22.95$23.0051.0%14.6%5.1%63.0%5.9%35.0%-2.3%17.0K16.5K-2.3K0.405.1352851352