HYG Options History — February 2026

In February 2026, HYG traded between $80.53 and $80.97. ATM implied volatility averaged 3.9%, placing in the 4.8% IV rank vs the trailing year. The 30-day expected move averaged 1.0%. IV traded above realized volatility by 1.6% (HV 20d: 2.4%). Max pain ranged from $80.00 to $81.00. Net GEX was positive for 2 of 19 trading days. Term structure was in contango for 8 of 19 days. Put/call ratio averaged 7.41.

Notable Days

  • 2026-02-05: Highest Volume — 1,311,020 contracts
  • 2026-02-03: Largest IV spike — 26.0% change
  • 2026-02-05: Highest IV Rank — 15.9%
  • 2026-02-04: Largest Expected Move — 1.3%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$80.81$80.53$80.97$80.78$80.68
Max Pain$80.84$80.00$81.00$81.00$81.00
ATM IV3.9%3.3%5.6%3.8%4.3%
Expected Move1.0%0.8%1.3%0.9%1.2%
HV 20d2.4%2.2%2.5%2.4%2.4%
HV 60d2.9%2.5%3.1%3.1%2.5%
IV Rank4.8%0.0%15.9%4.0%7.5%
IV Percentile19.0%0.0%67.9%13.9%33.3%
Term Structure-0.0%-0.4%0.5%-0.1%0.1%
VWIV5.1%3.9%7.2%5.3%6.4%
Skew 25d2.4%1.8%3.3%3.2%2.0%
Skew 10d7.9%3.4%22.8%6.8%3.4%
Call IV 25d3.2%2.1%4.4%3.2%3.4%
Put IV 25d5.6%5.0%7.7%6.4%5.5%
Bid-Ask Spread %3.432.754.523.643.72
Gamma HHI0.230.160.500.160.21
Net GEX-1.87B-5.74B5.25B-1.86B-5.74B
Net DEX3.02B1.13B6.53B3.12B6.53B
Net VEX-31.8M-42.3M-24.4M-41.2M-35.0M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio7.410.9220.5612.396.99
Total Volume494,062.842194,3211,311,020194,321565,535
Total OI9,620,440.1058,649,28910,743,8898,712,9929,437,981

Daily Data (19 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2026-02-02$80.78$81.003.8%0.9%2.4%4.0%5.3%3.2%-0.1%-1.86B3.12B-41.2M12.393.6414,508179,8131,233,1117,479,881
2026-02-03$80.69$81.004.8%1.3%2.2%10.9%5.3%2.9%-0.2%-2.15B3.22B-35.8M13.194.5234,642456,8251,248,9907,493,228
2026-02-04$80.65$81.005.1%1.3%2.2%13.1%5.4%3.0%-0.3%-2.75B4.25B-38.3M20.564.1725,399522,3161,276,0697,729,894
2026-02-05$80.53$80.005.6%1.3%2.2%15.9%7.2%3.3%-0.3%-3.32B6.26B-42.3M7.132.97161,2971,149,7231,292,4168,003,975
2026-02-06$80.75$80.004.7%1.0%2.4%10.2%6.4%2.0%-0.2%-2.40B2.90B-34.6M4.133.13100,292414,5091,338,6748,260,648
2026-02-09$80.90$80.003.6%1.0%2.5%2.0%4.9%3.1%0.1%-960.7M1.13B-30.4M7.552.7536,418275,1001,386,3448,401,411
2026-02-10$80.88$81.003.5%1.0%2.5%1.3%4.3%2.7%-0.4%-1.26B1.75B-32.5M3.783.0977,136291,3501,394,2718,758,376
2026-02-11$80.88$81.003.3%1.0%2.5%0.0%4.7%2.6%-0.2%-1.60B2.03B-30.8M8.502.8726,524225,5811,445,5268,757,731
2026-02-12$80.78$81.003.7%1.0%2.5%2.9%4.2%3.3%-0.0%-2.45B3.19B-31.6M12.214.0273,907902,4741,463,9368,836,093
2026-02-13$80.84$81.003.7%1.0%2.5%3.3%5.2%2.2%0.1%-1.52B2.52B-29.6M4.623.4766,590307,8601,513,7708,743,869
2026-02-17$80.81$81.003.6%1.0%2.5%2.2%4.5%1.9%0.2%-2.45B2.84B-26.6M7.833.0333,867265,1981,459,4308,600,707
2026-02-18$80.91$81.003.4%1.0%2.5%0.8%3.9%1.8%0.2%-334.2M1.25B-24.4M3.623.0868,706248,7371,486,9618,749,255
2026-02-19$80.91$81.003.4%1.0%2.2%0.7%4.1%1.8%0.3%6.4M1.50B-25.4M6.973.5974,868522,1371,516,0118,900,799
2026-02-20$80.97$81.003.5%1.0%2.2%1.7%4.1%1.8%0.1%5.25B2.14B-28.4M0.923.02297,675272,3641,568,0929,175,797
2026-02-23$80.90$81.003.9%1.1%2.3%4.3%5.7%2.5%-0.2%-2.66B1.68B-25.5M3.183.7188,229280,6261,351,3877,297,902
2026-02-24$80.80$81.003.9%1.1%2.2%4.1%5.2%2.4%-0.1%-3.54B2.95B-26.5M7.463.3951,256382,3521,373,2197,443,504
2026-02-25$80.90$81.003.4%0.9%2.3%1.2%4.3%1.9%-0.1%-2.92B2.90B-27.8M3.593.6792,905333,6421,399,5137,700,595
2026-02-26$80.88$81.003.9%0.8%2.2%4.3%5.0%2.0%0.5%-2.84B5.29B-37.1M6.093.4165,884400,9491,454,6007,814,396
2026-02-27$80.68$81.004.3%1.2%2.4%7.5%6.4%2.0%0.1%-5.74B6.53B-35.0M6.993.7270,817494,7181,450,6467,987,335