HYG Options History — March 2026

In March 2026, HYG traded between $78.68 and $80.38. ATM implied volatility averaged 7.8%, placing in the 31.5% IV rank vs the trailing year. The 30-day expected move averaged 2.1%. IV traded above realized volatility by 3.1% (HV 20d: 4.7%). Max pain ranged from $80.00 to $81.00. Net GEX was positive for 0 of 22 trading days. Term structure was in contango for 9 of 22 days. Put/call ratio averaged 7.38.

Notable Days

  • 2026-03-06: Highest Volume — 1,587,679 contracts
  • 2026-03-20: Largest IV spike — 47.5% change
  • 2026-03-27: Highest IV Rank — 55.0%
  • 2026-03-27: Largest Expected Move — 3.3%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$79.58$78.68$80.38$80.30$79.57
Max Pain$80.36$80.00$81.00$81.00$80.00
ATM IV7.8%4.8%11.2%4.8%7.3%
Expected Move2.1%1.3%3.3%1.3%2.1%
HV 20d4.7%2.6%7.7%2.8%7.7%
HV 60d3.5%2.6%4.8%2.6%4.8%
IV Rank31.5%10.8%55.0%10.8%27.8%
IV Percentile86.1%49.2%97.2%49.2%85.3%
Term Structure-0.1%-1.3%1.0%-0.1%0.0%
VWIV9.8%6.2%15.2%6.2%7.7%
Skew 25d5.0%2.9%7.4%3.4%2.9%
Skew 10d8.3%2.1%13.7%8.4%6.2%
Call IV 25d5.8%3.9%8.0%4.4%6.8%
Put IV 25d10.7%7.8%14.4%7.8%9.7%
Bid-Ask Spread %24.153.7946.653.7932.92
Gamma HHI0.190.160.380.200.21
Net GEX-5.35B-7.36B-4.24B-4.59B-5.11B
Net DEX14.47B7.94B22.44B8.68B9.07B
Net VEX-52.6M-62.7M-43.1M-46.6M-43.1M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio7.382.2817.923.452.28
Total Volume662,150.773202,4791,587,679396,893453,166
Total OI10,028,522.9098,443,72711,264,8089,456,9079,282,947

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2026-03-02$80.30$81.004.8%1.3%2.8%10.8%6.2%3.4%-0.1%-4.59B8.68B-46.6M3.453.7989,206307,6871,412,0928,044,815
2026-03-03$80.22$81.006.3%1.7%2.6%20.8%7.2%3.8%-0.3%-4.71B9.68B-50.0M6.904.08124,956861,7201,447,6448,105,800
2026-03-04$80.38$81.005.2%1.3%2.7%13.5%6.7%3.9%-0.2%-4.49B7.94B-48.4M10.453.8250,556528,2971,492,9548,623,893
2026-03-05$80.13$81.007.1%1.9%2.9%26.8%9.4%6.0%-0.5%-5.35B11.54B-56.6M8.814.5564,098564,9431,521,4178,664,883
2026-03-06$79.73$81.009.2%2.1%3.3%41.4%11.0%7.4%-0.6%-5.67B17.54B-62.7M16.244.3892,1171,495,5621,560,8208,906,962
2026-03-09$80.06$80.007.3%2.0%3.5%28.2%9.5%5.6%-0.4%-4.77B12.20B-55.5M4.836.89107,530519,2451,491,2959,047,277
2026-03-10$80.12$81.007.1%2.0%3.4%26.4%8.7%5.1%-0.1%-4.60B10.90B-50.4M7.4143.1674,904554,6721,554,7418,986,581
2026-03-11$79.88$81.006.8%1.9%3.6%24.5%9.3%5.9%-0.0%-5.40B14.02B-56.0M6.627.42102,658679,1021,578,7089,001,465
2026-03-12$79.41$81.008.6%2.5%4.0%37.4%9.9%4.8%1.0%-6.13B18.88B-60.4M12.3420.8845,001555,2991,633,4469,340,789
2026-03-13$79.19$80.009.5%2.8%4.1%43.5%12.4%7.1%0.4%-5.76B21.79B-62.6M17.9233.4048,250864,5801,653,2369,321,807
2026-03-16$79.52$80.006.8%2.0%4.4%24.7%9.4%4.8%0.2%-6.29B16.64B-53.3M6.8634.3558,408400,5231,573,0439,440,037
2026-03-17$79.78$80.006.1%1.7%4.6%19.8%8.8%3.5%0.9%-7.36B13.83B-49.8M4.5928.9181,290373,4321,581,1619,392,032
2026-03-18$79.40$80.008.8%2.3%4.8%38.4%8.8%4.7%-1.0%-6.18B17.46B-52.0M8.1230.8422,213180,2661,640,7979,492,138
2026-03-19$79.59$80.006.4%1.7%4.9%21.9%9.2%4.6%0.8%-6.95B16.11B-48.3M13.3727.3737,615502,7761,652,6629,612,146
2026-03-20$78.91$80.009.5%2.6%5.6%43.1%10.7%5.8%0.3%-7.19B22.44B-56.2M4.8627.64178,754868,9101,674,9179,579,938
2026-03-23$79.47$80.007.3%2.1%6.4%28.1%8.9%5.3%0.5%-4.70B12.54B-49.0M3.0936.9088,296273,2391,125,0427,321,523
2026-03-24$79.22$80.009.2%2.3%6.4%41.1%9.9%4.3%0.1%-4.24B13.60B-49.1M2.9140.5176,917223,6561,172,0657,271,662
2026-03-25$79.41$80.008.1%2.2%6.5%33.6%9.6%3.6%-0.3%-4.58B12.69B-46.2M5.0946.6584,161427,9781,237,6517,342,588
2026-03-26$78.91$80.009.7%2.7%6.7%44.9%15.2%5.8%0.3%-4.41B16.69B-56.5M3.1028.67250,999779,2981,283,9917,479,629
2026-03-27$78.68$80.0011.2%3.3%6.8%55.0%13.9%6.5%-0.8%-4.60B17.96B-55.2M8.0521.7572,925587,3491,420,8417,642,342
2026-03-30$78.81$80.009.3%2.7%6.7%42.0%13.0%3.9%-1.3%-4.68B16.10B-49.3M5.1242.36133,209681,5541,388,9797,628,748
2026-03-31$79.57$80.007.3%2.1%7.7%27.8%7.7%2.9%0.0%-5.11B9.07B-43.1M2.2832.92138,104315,0621,470,7937,812,154