IWM Options History — February 2026

In February 2026, IWM traded between $255.50 and $267.03. ATM implied volatility averaged 23.1%, placing in the 19.2% IV rank vs the trailing year. The 30-day expected move averaged 6.7%. IV traded above realized volatility by 3.4% (HV 20d: 19.7%). Max pain ranged from $250.00 to $260.00. Net GEX was positive for 0 of 19 trading days. Term structure was in contango for 8 of 19 days. Put/call ratio averaged 1.71.

Notable Days

  • 2026-02-27: Highest Volume — 2,224,772 contracts
  • 2026-02-06: Largest IV drop — 13.9% change
  • 2026-02-23: Highest IV Rank — 27.4%
  • 2026-02-23: Largest Expected Move — 7.6%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$262.96$255.50$267.03$261.92$260.94
Max Pain$253.68$250.00$260.00$260.00$255.00
ATM IV23.1%20.5%26.0%20.5%24.0%
Expected Move6.7%5.8%7.6%5.8%7.1%
HV 20d19.7%14.5%21.9%16.0%21.6%
HV 60d18.1%16.7%19.7%18.4%17.1%
IV Rank19.2%11.6%27.4%11.6%21.7%
IV Percentile67.5%32.9%87.7%32.9%75.4%
Term Structure-0.1%-1.0%0.4%0.2%-0.2%
VWIV26.1%21.8%29.0%21.8%28.5%
Skew 25d5.8%4.0%7.4%4.0%7.4%
Skew 10d11.4%8.1%13.9%8.1%13.8%
Call IV 25d20.5%19.0%22.6%19.0%20.8%
Put IV 25d26.3%23.0%29.6%23.0%28.3%
Bid-Ask Spread %1.371.051.611.591.37
Gamma HHI0.030.030.050.030.04
Net GEX-1.60B-3.38B-353.3M-2.02B-2.39B
Net DEX-5.26B-16.23B13.51B-4.96B2.72B
Net VEX-276.8M-295.7M-265.5M-270.8M-290.5M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.711.332.322.321.92
Total Volume1,772,184.4211,325,6042,224,7721,930,2872,224,772
Total OI9,843,185.8958,857,33510,757,8219,570,4829,458,419

Daily Data (19 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2026-02-02$261.92$260.0020.5%5.8%16.0%11.6%21.8%4.0%0.2%-2.02B-4.96B-270.8M2.321.59581,5251,348,7622,623,0986,947,384
2026-02-03$261.85$260.0021.6%6.3%15.0%14.9%24.4%4.6%0.1%-2.21B-2.95B-278.3M1.721.55709,1931,223,1132,632,8926,969,157
2026-02-04$260.96$260.0022.7%6.6%14.5%17.8%25.3%4.8%-0.0%-2.40B-830.8M-285.5M1.611.52748,3861,202,1612,679,1747,077,106
2026-02-05$255.50$250.0025.4%7.2%16.4%25.8%26.6%5.8%-0.3%-3.38B13.51B-295.7M1.851.51704,2391,304,4642,725,6697,156,542
2026-02-06$265.17$250.0021.9%6.4%20.8%15.6%25.1%4.9%0.1%-422.5M-13.30B-276.3M1.711.16676,2331,155,9832,780,0047,098,635
2026-02-09$267.03$250.0021.4%6.3%20.7%14.3%24.3%5.1%0.3%-374.2M-16.23B-268.3M1.691.27519,682876,4622,765,2057,103,430
2026-02-10$266.56$251.0021.1%6.1%20.7%13.4%24.3%5.0%0.3%-794.5M-14.62B-269.2M1.571.20571,156896,0022,773,6757,214,819
2026-02-11$264.64$251.0021.3%6.2%20.9%13.7%23.8%4.7%0.4%-1.66B-10.06B-275.5M1.611.55726,2541,166,8992,805,1847,333,247
2026-02-12$259.65$252.0024.2%7.0%21.9%22.1%26.4%5.6%0.0%-3.08B3.69B-285.3M2.151.23698,1161,502,3962,783,4147,360,827
2026-02-13$262.41$251.0024.1%6.9%21.8%21.8%27.0%5.9%0.2%-2.26B-4.35B-277.5M1.481.53768,4671,134,9702,833,3867,461,594
2026-02-17$263.06$252.0024.3%7.0%21.8%22.5%26.9%6.2%-0.4%-1.81B-6.24B-275.0M1.681.30582,545978,0362,812,8307,487,101
2026-02-18$263.78$253.0023.5%6.7%21.4%20.1%26.3%6.4%-0.3%-1.17B-8.81B-269.9M1.861.61543,4801,013,2912,816,9947,608,529
2026-02-19$264.25$254.0024.5%7.0%20.3%23.1%28.7%7.2%-0.4%-1.05B-8.79B-271.1M1.781.21621,8871,105,6902,818,9927,715,027
2026-02-20$264.37$254.0023.6%6.8%20.0%20.6%27.1%7.1%-0.2%-353.3M-8.60B-277.7M1.591.56717,3571,141,0372,862,7787,895,043
2026-02-23$260.22$254.0026.0%7.6%19.8%27.4%29.0%7.1%-0.6%-2.05B2.37B-279.4M1.631.40658,0161,074,7992,502,5546,354,781
2026-02-24$263.38$254.0024.1%7.0%20.3%22.0%28.0%6.4%-1.0%-1.37B-5.08B-269.4M1.331.05579,491768,7102,563,0926,524,695
2026-02-25$264.44$254.0022.7%6.6%20.4%17.9%25.9%6.2%-0.7%-960.8M-7.84B-265.5M1.351.26563,417762,1872,595,3066,580,263
2026-02-26$266.07$255.0022.7%6.6%20.4%17.8%27.1%6.2%-0.2%-619.0M-9.66B-278.1M1.681.17680,9441,141,3822,628,2996,671,387
2026-02-27$260.94$255.0024.0%7.1%21.6%21.7%28.5%7.4%-0.2%-2.39B2.72B-290.5M1.921.37762,6911,462,0812,666,8676,791,552