KWEB Options History — January 2026

In January 2026, KWEB traded between $34.97 and $37.66. ATM implied volatility averaged 30.0%, placing in the 11.3% IV rank vs the trailing year. The 30-day expected move averaged 8.4%. IV traded below realized volatility by 3.0% (HV 20d: 33.0%). Max pain ranged from $36.00 to $38.00. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 16 of 20 days. Put/call ratio averaged 0.37.

Notable Days

  • 2026-01-12: Highest Volume — 490,257 contracts
  • 2026-01-12: Largest IV spike — 14.3% change
  • 2026-01-15: Highest IV Rank — 15.2%
  • 2026-01-12: Largest Expected Move — 9.4%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$36.05$34.97$37.66$35.64$35.45
Max Pain$36.65$36.00$38.00$38.00$36.00
ATM IV30.0%27.1%32.3%27.1%31.4%
Expected Move8.4%7.9%9.4%8.1%8.0%
HV 20d33.0%28.5%37.7%28.5%32.6%
HV 60d26.7%24.4%29.4%29.0%26.4%
IV Rank11.3%6.6%15.2%6.6%13.6%
IV Percentile31.2%4.8%54.8%4.8%48.0%
Term Structure1.1%-2.4%6.8%1.0%-0.1%
VWIV30.6%28.5%33.7%31.1%29.6%
Skew 25d0.0%-1.9%4.3%-1.7%0.8%
Skew 10d-2.4%-20.8%10.4%-1.6%-2.2%
Call IV 25d31.0%27.9%34.5%30.2%31.9%
Put IV 25d31.1%27.4%34.0%28.6%32.7%
Bid-Ask Spread %35.3116.6073.4334.0723.90
Gamma HHI0.100.080.120.090.08
Net GEX118.9M59.0M174.9M59.0M78.1M
Net DEX-993.3M-2.48B-180.4M-180.4M-650.8M
Net VEX-13.2M-15.1M-10.7M-10.7M-13.0M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.370.091.300.250.55
Total Volume193,032.258,939490,257271,142130,044
Total OI3,576,346.152,970,6844,350,0223,450,9693,306,575

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2026-01-02$35.64$38.0027.1%8.1%28.5%6.6%31.1%-1.7%1.0%59.0M-180.4M-10.7M0.2534.07216,26054,8822,409,2121,041,757
2026-01-05$36.47$37.0029.7%8.8%29.9%10.9%31.2%-0.3%6.8%96.8M-852.5M-11.8M0.0947.92347,82831,8482,494,1511,038,811
2026-01-06$36.39$37.0028.8%8.6%29.4%9.5%31.0%-1.7%0.8%113.1M-1.06B-13.4M0.1435.76157,10322,1682,710,4921,051,455
2026-01-07$35.59$37.0028.7%8.4%30.3%9.3%31.1%-1.4%0.6%82.8M-425.2M-12.3M0.4040.0483,26633,2782,745,0531,055,007
2026-01-08$35.91$37.0029.4%8.5%30.4%10.3%31.9%-0.5%0.2%93.1M-684.0M-12.8M0.2229.78160,77635,5702,792,3281,081,785
2026-01-09$35.80$37.0027.2%8.0%30.2%6.8%28.8%-0.8%0.2%88.3M-506.9M-12.4M0.1116.60233,76326,7262,797,2281,090,839
2026-01-12$37.66$36.0031.1%9.4%35.4%13.2%33.7%-0.8%2.8%174.9M-2.48B-15.1M0.1618.63423,61266,6452,906,5091,080,827
2026-01-13$36.81$36.0030.8%9.0%36.3%12.7%31.3%-1.8%-0.1%158.8M-1.62B-14.4M0.8435.98137,098114,6222,990,8801,106,527
2026-01-14$36.80$37.0031.8%8.7%36.0%14.3%31.3%-1.6%-2.0%161.1M-1.54B-14.5M0.2473.4381,42919,2893,031,2361,171,692
2026-01-15$36.41$37.0032.3%8.7%36.1%15.2%31.9%-1.9%-2.4%143.3M-1.04B-14.0M0.3028.84146,23043,7513,072,8661,185,480
2026-01-16$35.70$37.0030.9%8.6%36.8%12.8%31.8%-0.1%0.1%91.4M-301.5M-13.1M0.3027.02190,71156,8293,145,4751,204,547
2026-01-20$34.97$37.0030.6%8.7%37.1%12.3%31.1%0.3%1.4%87.6M-638.6M-12.1M0.3357.99121,78139,7712,394,207595,744
2026-01-21$35.63$37.0030.2%8.7%37.7%11.8%31.0%-0.4%2.4%106.2M-965.8M-13.0M0.2738.5050,08213,3342,355,837614,847
2026-01-22$35.92$37.0030.0%8.5%32.4%11.4%30.0%0.2%2.5%122.8M-1.18B-13.3M0.6628.71122,33380,5622,376,176619,978
2026-01-23$35.86$36.0028.7%8.0%32.3%9.3%28.5%0.4%2.5%128.7M-1.09B-13.5M1.3019.9845,20558,8542,473,831684,881
2026-01-26$35.80$36.0029.2%7.9%32.3%10.1%29.5%1.0%2.1%128.9M-945.0M-13.0M0.3225.0574,45323,7852,463,945697,254
2026-01-27$35.89$36.0030.3%8.0%32.2%11.9%28.6%4.3%1.0%137.9M-1.06B-13.4M0.2028.61159,93231,9922,474,932713,322
2026-01-28$36.14$36.0030.3%8.1%31.9%11.8%30.3%2.9%2.0%156.0M-1.28B-13.9M0.2268.7348,29810,6412,529,948733,674
2026-01-29$36.20$36.0030.8%8.0%31.9%12.6%29.0%3.3%0.2%170.2M-1.34B-14.1M0.6026.56103,82762,0662,547,807739,808
2026-01-30$35.45$36.0031.4%8.0%32.6%13.6%29.6%0.8%-0.1%78.1M-650.8M-13.0M0.5523.9084,14245,9022,537,373769,202