IEF Options History — January 2026

In January 2026, IEF traded between $95.56 and $96.52. ATM implied volatility averaged 5.0%, placing in the 10.7% IV rank vs the trailing year. The 30-day expected move averaged 1.4%. IV traded above realized volatility by 1.5% (HV 20d: 3.5%). Max pain ranged from $96.00 to $97.00. Net GEX was positive for 0 of 20 trading days. Term structure was in contango for 10 of 20 days. Put/call ratio averaged 11.20.

Notable Days

  • 2026-01-06: Highest Volume — 319,513 contracts
  • 2026-01-20: Largest IV spike — 15.3% change
  • 2026-01-20: Highest IV Rank — 19.7%
  • 2026-01-20: Largest Expected Move — 1.6%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$96.10$95.56$96.52$96.12$96.00
Max Pain$96.25$96.00$97.00$96.00$96.00
ATM IV5.0%4.6%5.6%5.2%4.9%
Expected Move1.4%1.3%1.6%1.4%1.4%
HV 20d3.5%3.3%3.8%3.6%3.3%
HV 60d4.2%4.0%4.4%4.4%4.0%
IV Rank10.7%5.4%19.7%13.1%9.5%
IV Percentile5.1%2.0%16.7%4.0%7.5%
Term Structure0.0%-0.1%0.5%0.5%0.1%
VWIV5.2%4.7%5.8%5.1%5.7%
Skew 25d0.1%-0.5%0.6%-0.1%-0.5%
Skew 10d-0.2%-1.4%0.9%-0.2%-1.2%
Call IV 25d5.1%4.8%5.6%5.1%5.3%
Put IV 25d5.2%4.7%6.2%5.0%4.7%
Bid-Ask Spread %5.442.4710.904.292.84
Gamma HHI0.260.190.360.210.34
Net GEX-609.3M-1.17B-269.2M-360.6M-633.6M
Net DEX788.5M256.9M1.51B499.6M716.4M
Net VEX-8.3M-10.4M-6.2M-6.3M-8.9M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio11.200.38142.341.690.53
Total Volume44,338.153,737319,51372,8413,737
Total OI934,056.65764,7321,071,356773,242906,404

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2026-01-02$96.12$96.005.2%1.4%3.6%13.1%5.1%-0.1%0.5%-360.6M499.6M-6.3M1.694.2927,05645,785170,614602,628
2026-01-05$96.34$97.005.3%1.5%3.6%15.3%5.3%0.1%-0.1%-269.2M256.9M-6.2M2.087.834,1788,694189,152619,142
2026-01-06$96.28$97.005.4%1.5%3.5%16.6%5.7%0.3%-0.1%-308.6M330.2M-6.3M142.3410.902,229317,284191,942625,638
2026-01-07$96.50$97.005.5%1.5%3.5%17.7%5.4%0.2%-0.1%-482.9M558.1M-8.2M2.956.6212,24636,114193,432823,681
2026-01-08$96.19$97.005.5%1.5%3.7%17.7%5.4%0.3%-0.1%-640.5M784.0M-8.5M15.873.471,48523,562206,918846,317
2026-01-09$96.25$97.005.0%1.4%3.5%10.2%4.9%0.2%-0.1%-653.8M670.6M-8.2M0.455.335,0632,278207,807863,549
2026-01-12$96.16$96.005.0%1.4%3.5%10.0%4.8%0.1%-0.1%-620.8M759.0M-7.9M0.383.4612,8344,929202,127835,373
2026-01-13$96.28$96.004.8%1.3%3.4%7.7%5.1%-0.1%-0.1%-543.7M632.2M-7.9M6.635.562,02613,440212,836837,771
2026-01-14$96.52$96.004.8%1.3%3.5%7.2%4.8%0.0%-0.1%-343.5M298.5M-7.3M1.743.234,0577,078213,499836,120
2026-01-15$96.31$96.004.7%1.3%3.5%6.2%4.7%0.0%-0.1%-424.7M446.1M-7.3M2.083.072,1654,497214,726832,221
2026-01-16$95.94$96.004.9%1.4%3.7%8.9%4.9%0.4%-0.1%-1.17B1.08B-7.9M4.342.4716,23670,529215,618835,812
2026-01-20$95.56$96.005.6%1.6%3.8%19.7%5.8%0.6%0.0%-666.2M1.51B-9.0M6.778.5011,67379,032159,634605,098
2026-01-21$95.80$96.005.1%1.5%3.4%11.9%5.5%0.4%0.1%-700.3M1.38B-9.4M0.459.1514,6796,584167,460666,876
2026-01-22$95.81$96.004.8%1.4%3.4%7.3%5.4%0.2%0.1%-753.1M1.28B-9.5M0.737.1431,91223,331176,366690,550
2026-01-23$95.94$96.004.8%1.4%3.5%8.2%5.0%0.2%0.1%-684.7M1.08B-10.4M2.382.652,4155,746206,633701,542
2026-01-26$96.09$96.004.8%1.3%3.4%7.0%4.8%-0.1%0.1%-663.9M851.3M-9.5M17.917.061,03418,520199,715697,643
2026-01-27$96.02$96.004.6%1.3%3.4%5.4%5.1%-0.2%0.2%-747.7M880.0M-9.4M1.354.624,6316,271199,932700,382
2026-01-28$95.87$96.004.7%1.3%3.4%5.6%4.7%0.0%0.2%-819.5M1.04B-9.4M0.882.9515,99914,144203,230697,584
2026-01-29$96.03$96.004.9%1.4%3.5%8.6%4.9%-0.5%0.1%-697.3M717.6M-9.1M12.527.631,72321,567215,036710,125
2026-01-30$96.00$96.004.9%1.4%3.3%9.5%5.7%-0.5%0.1%-633.6M716.4M-8.9M0.532.842,4371,300215,713690,691