iShares Russell 2000 ETF (IWM) Options Chain

The options chain displays all available contracts with end-of-day quotes, Greeks, volume, and open interest for each strike and expiration, and streams live quotes for traders who connect a broker. It is the primary tool for options trade selection.

iShares Russell 2000 ETF (IWM) operates in the Financial Services sector, specifically the Asset Management industry, with a market capitalization near $83.26B, listed on AMEX, carrying a beta of 1.26 to the broader market. iShares Trust - iShares Russell 2000 ETF is an exchange traded fund launched by BlackRock, Inc. public since 2000-05-22.

Snapshot as of Aug 14, 2026.

Spot Price

$304.96

Total OI

10.2M

Total Volume

1.0M

Front Expiration

28 days

Second Expiration

35 days

ATM IV

16.0%

Avg Bid/Ask Spread

3.65%

As of Aug 14, 2026, iShares Russell 2000 ETF (IWM) has 10.2M open contracts and 1.0M contracts traded. The nearest expiration is 28 days out, followed by 35 days. ATM implied volatility is 16.0%. Average bid/ask spread across the chain is 3.65%: moderate spreads, acceptable for most positions. The options chain aggregates every listed strike and expiration, letting traders evaluate skew, term structure, and liquidity in a single view.

How IWM options chain Data Feeds Strategy Selection

Strategy selection on iShares Russell 2000 ETF options does not derive from any single metric in isolation. The options chain view above sits inside a broader read: ATM IV currently sits at 16.0% and dealer gamma exposure is positive, so dealer hedging is mechanically mean-reverting. Combine the options chain data here with the volatility-skew surface, dealer-gamma exposure, max-pain level, and upcoming-events calendar to build a positioning thesis. Risk-defined structures (credit spreads, debit spreads, iron condors) are usually safer than naked positions while the regime is uncertain; the data on this page anchors the inputs but does not by itself constitute a trade thesis.

How to read the IWM chain depth

The listed-expirations table above shows every expiration available for iShares Russell 2000 ETF options with its days-to-expiration count and ATM implied volatility. Front-month expirations carry the most volume, the highest gamma, and the tightest bid-ask spreads; longer-dated tenors carry less liquidity but more vega exposure. IWM front expiration sits at 28 days - the typical hedging horizon for monthly options. The contango term-structure slope of 0.011 means longer-dated tenors price in proportionally more IV.

IWM chain mechanics and execution

Options are listed at standardized strike intervals (typically $1 for sub-$25 underlyings, $2.50-$5 for mid-cap, $10-$50 for large-cap), and the deltas of each listed strike are determined by where IV lies relative to the strike's moneyness. Average bid/ask spread on the IWM chain is 3.65% - a measure of liquidity. Tighter spreads on liquid strikes mean lower transaction costs; wider spreads on long-dated or far-OTM strikes mean execution drag can dominate the math. The chain table on the SPA side shows the full per-strike, per-expiration grid; this SSR page summarizes the listed expirations and the front-month context to anchor the structural read.

Using the IWM chain to build structures

Strategy selection starts with the chain: directional theses use single-leg calls or puts, range-bound theses use credit spreads or iron condors, vol theses use straddles or strangles, calendar theses use diagonal spreads. IWM's current 4.58% expected move anchors wing placement - structures with wings at the implied band collect the modal-outcome premium under lognormal assumptions. Cross-reference with the gamma-exposure profile to understand where dealer hedging will reinforce or fight your position, and with the volatility-skew chart to confirm the strikes you're trading sit at the IV levels your strategy assumes.

Learn how the options chain is reported and how to read the data →

IWM listed expirations

Per-expiration ATM implied volatility for IWM options. Each row is one listed expiration with its days-to-expiration count and ATM IV pulled from the same term-structure feed that powers the SPA's expiration filter. Front-month expirations carry the highest gamma, the tightest bid-ask spreads, and the most volume; longer-dated tenors carry less liquidity but more vega.

IWM most-active contracts

Top 1 contracts from the institutional-grade nightly options scan; ranked by volume within the broader S&P 500/400/600 + ETF universe.

Frequently asked IWM options chain questions

What does the IWM options chain show right now?

As of Aug 14, 2026, iShares Russell 2000 ETF (IWM) has 10.2M contracts outstanding and 1.0M traded today, with ATM IV of 16.0%. The full chain spans every listed strike and expiration with bid/ask, Greeks, volume, and open interest per contract.

What expirations are available for IWM options?

The nearest expiration is 28 days out, followed by 35 days. Listed expirations typically extend monthly with weeklies between, plus LEAPS one to two years out for liquid names.

How tight are IWM options bid/ask spreads?

Average bid/ask spread across the chain is 3.65%. Moderate spreads are acceptable for most defined-risk positions; size with awareness of execution slippage.