IEF Options History — February 2026

In February 2026, IEF traded between $95.47 and $98.00. ATM implied volatility averaged 5.1%, placing in the 11.4% IV rank vs the trailing year. The 30-day expected move averaged 1.4%. IV traded above realized volatility by 0.7% (HV 20d: 4.4%). Max pain ranged from $96.00 to $97.00. Net GEX was positive for 10 of 19 trading days. Term structure was in contango for 9 of 19 days. Put/call ratio averaged 4.87.

Notable Days

2026-02-09: Highest Volume — 127,043 contracts
2026-02-27: Largest IV spike — 11.2% change
2026-02-05: Highest IV Rank — 15.8%
2026-02-27: Largest Expected Move — 1.5%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$96.71	$95.47	$98.00	$95.47	$98.00
Max Pain	$96.37	$96.00	$97.00	$96.00	$97.00
ATM IV	5.1%	4.7%	5.4%	5.3%	5.4%
Expected Move	1.4%	1.3%	1.5%	1.4%	1.5%
HV 20d	4.4%	3.7%	4.9%	3.8%	4.7%
HV 60d	4.2%	3.9%	4.3%	4.1%	4.0%
IV Rank	11.4%	6.4%	15.8%	14.4%	15.8%
IV Percentile	9.7%	3.2%	17.5%	9.9%	17.5%
Term Structure	0.0%	-0.2%	0.3%	-0.2%	0.2%
VWIV	5.2%	4.7%	6.1%	5.1%	5.4%
Skew 25d	-0.5%	-1.2%	0.4%	0.4%	-1.2%
Skew 10d	-1.3%	-2.3%	0.5%	0.5%	-2.3%
Call IV 25d	5.5%	5.2%	6.0%	5.2%	6.0%
Put IV 25d	5.0%	4.5%	5.7%	5.7%	4.8%
Bid-Ask Spread %	4.55	2.55	10.06	3.69	5.36
Gamma HHI	0.25	0.18	0.34	0.34	0.25
Net GEX	-166.8M	-861.1M	261.1M	-781.2M	261.1M
Net DEX	-132.0M	-1.17B	1.25B	1.21B	-1.17B
Net VEX	-7.5M	-10.1M	-5.7M	-9.7M	-5.7M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	4.87	0.10	33.46	2.53	1.01
Total Volume	35,688.421	3,193	127,043	15,666	36,475
Total OI	902,060.474	767,277	1,000,864	900,248	842,845

Daily Data (19 trading days)

Date	Price	Max Pain	ATM IV	Exp Move	HV 20d	IV Rank	VWIV	Skew 25d	Term Str	GEX	DEX	VEX	P/C	Spread %	Call Vol	Put Vol	Call OI	Put OI
2026-02-02	$95.47	$96.00	5.3%	1.4%	3.8%	14.4%	5.1%	0.4%	-0.2%	-781.2M	1.21B	-9.7M	2.53	3.69	4,438	11,228	211,491	688,757
2026-02-03	$95.55	$96.00	5.2%	1.4%	3.7%	13.1%	4.7%	0.3%	-0.1%	-757.9M	1.12B	-9.6M	31.66	5.48	1,646	52,119	214,674	696,560
2026-02-04	$95.50	$96.00	5.1%	1.3%	3.7%	12.2%	4.7%	0.3%	-0.1%	-861.1M	1.25B	-10.1M	0.53	3.70	4,805	2,547	215,633	732,010
2026-02-05	$96.06	$96.00	5.4%	1.5%	4.2%	15.8%	5.7%	-0.0%	-0.1%	-528.2M	569.8M	-9.8M	3.19	3.94	8,729	27,874	215,847	760,019
2026-02-06	$96.05	$96.00	5.0%	1.4%	4.1%	10.2%	5.2%	-0.3%	-0.2%	-479.0M	475.9M	-8.8M	33.46	2.55	2,955	98,883	220,795	719,258
2026-02-09	$96.09	$96.00	4.9%	1.4%	4.1%	9.4%	5.0%	-0.3%	-0.0%	-394.8M	285.6M	-7.9M	0.94	2.60	65,475	61,568	219,751	668,154
2026-02-10	$96.48	$96.00	5.1%	1.4%	4.3%	12.5%	5.1%	-0.7%	-0.1%	-137.2M	-4.0M	-8.3M	1.01	2.75	5,156	5,187	248,484	688,790
2026-02-11	$96.25	$96.00	4.7%	1.4%	4.4%	6.4%	4.9%	-0.4%	0.1%	-342.3M	236.4M	-8.6M	0.55	3.30	2,056	1,137	251,165	687,666
2026-02-12	$96.81	$96.00	5.2%	1.5%	4.8%	13.8%	5.2%	-0.7%	0.0%	-1.7M	-448.9M	-7.5M	0.68	7.25	18,128	12,373	251,926	688,288
2026-02-13	$97.23	$96.00	5.2%	1.5%	4.9%	13.0%	5.5%	-1.0%	-0.0%	70.4M	-713.7M	-6.7M	0.24	3.32	12,946	3,067	239,931	687,360
2026-02-17	$97.20	$96.00	5.0%	1.4%	4.7%	10.1%	5.4%	-0.6%	0.0%	60.5M	-698.2M	-6.3M	0.10	4.85	9,272	908	235,912	683,195
2026-02-18	$96.98	$96.00	4.9%	1.4%	4.5%	9.4%	4.9%	-0.6%	-0.0%	85.9M	-574.2M	-6.4M	0.89	10.06	37,180	33,201	241,615	683,542
2026-02-19	$97.07	$97.00	5.1%	1.5%	4.4%	12.0%	6.1%	-1.0%	0.0%	75.2M	-576.1M	-6.8M	0.90	7.72	12,877	11,592	277,229	715,761
2026-02-20	$97.07	$97.00	4.9%	1.4%	4.4%	9.1%	5.5%	-0.8%	-0.0%	165.3M	-617.8M	-6.7M	0.74	2.84	13,211	9,813	279,551	721,313
2026-02-23	$97.44	$97.00	5.0%	1.5%	4.6%	11.1%	5.1%	-1.0%	0.2%	120.2M	-703.9M	-6.0M	5.07	4.81	2,904	14,716	245,928	521,349
2026-02-24	$97.38	$97.00	5.1%	1.5%	4.6%	11.3%	5.9%	-0.8%	0.1%	22.7M	-630.7M	-6.1M	0.98	4.04	16,936	16,664	247,551	520,158
2026-02-25	$97.34	$97.00	4.8%	1.4%	4.6%	8.2%	5.0%	-0.9%	0.2%	112.1M	-660.6M	-6.2M	1.74	4.79	15,852	27,511	259,690	528,063
2026-02-26	$97.59	$97.00	4.8%	1.4%	4.5%	8.0%	5.2%	-1.0%	0.3%	140.6M	-860.0M	-6.2M	6.33	3.34	2,273	14,378	273,967	554,921
2026-02-27	$98.00	$97.00	5.4%	1.5%	4.7%	15.8%	5.4%	-1.2%	0.2%	261.1M	-1.17B	-5.7M	1.01	5.36	18,180	18,295	274,585	568,260