IWM Options History — January 2026

In January 2026, IWM traded between $248.49 and $269.80. ATM implied volatility averaged 19.3%, placing in the 8.1% IV rank vs the trailing year. The 30-day expected move averaged 5.5%. IV traded above realized volatility by 4.6% (HV 20d: 14.7%). Max pain ranged from $245.00 to $260.00. Net GEX was positive for 11 of 20 trading days. Term structure was in contango for 13 of 20 days. Put/call ratio averaged 1.53.

Notable Days

  • 2026-01-30: Highest Volume — 2,200,015 contracts
  • 2026-01-20: Largest IV spike — 17.1% change
  • 2026-01-20: Highest IV Rank — 14.9%
  • 2026-01-20: Largest Expected Move — 6.2%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$261.35$248.49$269.80$248.49$259.43
Max Pain$254.10$245.00$260.00$245.00$260.00
ATM IV19.3%17.8%21.7%17.8%21.4%
Expected Move5.5%5.0%6.2%5.0%6.1%
HV 20d14.7%12.2%15.9%13.5%15.9%
HV 60d18.7%18.0%20.4%20.0%18.5%
IV Rank8.1%3.9%14.9%3.9%14.1%
IV Percentile16.4%3.2%54.4%3.2%49.2%
Term Structure0.1%-0.3%0.4%0.2%0.1%
VWIV20.9%18.3%24.5%18.3%23.7%
Skew 25d3.4%2.4%5.8%2.8%4.3%
Skew 10d6.9%5.2%11.1%6.0%8.3%
Call IV 25d17.9%16.6%19.4%16.6%19.3%
Put IV 25d21.3%19.4%25.1%19.4%23.6%
Bid-Ask Spread %1.401.051.931.271.37
Gamma HHI0.040.030.080.040.05
Net GEX-325.1M-3.63B1.37B-1.19B-3.63B
Net DEX-16.14B-29.75B3.14B-4.63B3.14B
Net VEX-253.5M-283.3M-237.8M-237.9M-283.3M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.530.952.671.212.32
Total Volume1,654,175.91,088,3692,200,0151,088,3692,200,015
Total OI9,231,416.38,332,70510,192,8898,435,1789,693,333

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2026-01-02$248.49$245.0017.8%5.0%13.5%3.9%18.3%2.8%0.2%-1.19B-4.63B-237.9M1.211.27493,407594,9622,629,6725,805,506
2026-01-05$252.87$250.0018.3%5.3%14.7%5.3%20.6%2.9%0.2%15.3M-12.69B-237.8M2.201.93520,5841,147,7312,608,7815,903,002
2026-01-06$256.11$250.0018.4%5.3%15.3%5.5%19.0%2.6%0.1%439.1M-17.67B-240.1M0.951.89796,174759,5832,659,5096,233,425
2026-01-07$255.28$250.0018.6%5.3%15.4%6.2%19.8%2.7%0.2%-17.9M-15.74B-248.9M1.121.56645,490725,8092,727,6556,396,873
2026-01-08$258.11$250.0019.2%5.5%15.8%7.8%20.4%2.7%0.1%661.1M-20.12B-250.0M1.251.73827,0381,030,5052,761,7126,533,505
2026-01-09$260.38$250.0018.1%5.2%15.2%4.8%19.8%2.4%0.3%1.37B-25.75B-242.2M1.281.36762,728974,2502,878,8946,681,637
2026-01-12$261.50$250.0018.7%5.3%15.0%6.3%19.4%2.4%-0.2%862.8M-24.59B-242.7M1.211.19528,079640,9962,816,1386,762,009
2026-01-13$261.00$250.0019.0%5.4%13.7%7.2%19.8%3.0%-0.3%410.1M-21.98B-246.7M1.001.35691,253692,2002,809,9356,815,036
2026-01-14$262.65$250.0019.3%5.4%13.5%8.0%21.3%3.7%-0.3%887.5M-24.76B-247.2M1.661.44609,8961,015,2142,811,1336,858,956
2026-01-15$265.82$255.0018.3%5.2%13.5%5.3%19.9%3.3%-0.2%963.9M-29.75B-248.7M1.481.15684,2241,015,9312,853,8097,112,287
2026-01-16$265.74$255.0018.5%5.3%12.2%5.8%18.8%3.5%-0.2%508.9M-28.22B-250.0M1.401.11590,964826,8382,893,2227,299,667
2026-01-20$262.56$255.0021.7%6.2%13.2%14.9%24.5%5.8%0.0%-979.8M-9.24B-270.5M1.561.51723,7051,128,3582,428,1015,904,604
2026-01-21$267.42$255.0020.0%5.7%14.3%10.1%23.3%4.2%-0.1%368.6M-20.02B-251.1M1.531.43865,0821,327,6292,444,8045,973,115
2026-01-22$269.80$257.0019.6%5.6%14.1%9.1%21.6%3.6%0.1%817.5M-24.11B-248.3M1.841.24618,6431,136,6712,523,2996,228,457
2026-01-23$264.97$260.0019.8%5.7%15.8%9.5%21.6%3.6%-0.0%-1.20B-12.11B-260.9M1.741.05711,2051,239,2992,598,7296,495,072
2026-01-26$264.23$260.0019.9%5.7%15.9%9.7%21.5%3.5%0.3%-1.59B-10.32B-260.0M1.331.36631,293840,9022,642,8136,640,312
2026-01-27$264.57$260.0019.4%5.5%15.7%8.3%20.6%3.3%0.4%-1.23B-10.77B-264.3M1.281.24599,554766,3432,636,4716,687,028
2026-01-28$263.31$260.0019.4%5.5%15.5%8.3%21.5%3.6%0.4%-1.88B-7.53B-268.7M1.621.48614,093995,1982,663,6066,724,370
2026-01-29$262.75$260.0020.5%5.8%15.3%11.7%23.3%4.1%0.3%-2.08B-5.89B-271.6M2.671.36575,8771,535,7952,672,8836,818,966
2026-01-30$259.43$260.0021.4%6.1%15.9%14.1%23.7%4.3%0.1%-3.63B3.14B-283.3M2.321.37662,5541,537,4612,723,8696,969,464