KWEB Options History — February 2026

In February 2026, KWEB traded between $31.12 and $35.03. ATM implied volatility averaged 31.1%, placing in the 13.3% IV rank vs the trailing year. The 30-day expected move averaged 8.9%. IV traded above realized volatility by 6.0% (HV 20d: 25.1%). Max pain ranged from $35.00 to $36.00. Net GEX was positive for 19 of 19 trading days. Term structure was in contango for 13 of 19 days. Put/call ratio averaged 0.69.

Notable Days

  • 2026-02-05: Highest Volume — 617,565 contracts
  • 2026-02-06: Largest IV drop — 13.1% change
  • 2026-02-05: Highest IV Rank — 19.6%
  • 2026-02-23: Largest Expected Move — 10.0%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$33.12$31.12$35.03$35.03$31.12
Max Pain$35.21$35.00$36.00$36.00$35.00
ATM IV31.1%29.2%35.0%31.4%30.4%
Expected Move8.9%8.1%10.0%8.1%8.9%
HV 20d25.1%22.0%30.2%28.6%22.7%
HV 60d26.8%26.2%27.5%26.2%26.5%
IV Rank13.3%10.1%19.6%13.6%12.0%
IV Percentile45.8%26.2%69.0%48.8%39.3%
Term Structure1.0%-1.8%16.1%0.9%0.4%
VWIV32.7%28.8%35.4%28.8%32.6%
Skew 25d1.0%-3.6%3.0%-0.0%2.2%
Skew 10d6.7%-2.8%14.8%5.0%-2.8%
Call IV 25d31.5%28.8%34.2%32.7%30.8%
Put IV 25d32.4%27.6%34.6%32.6%33.1%
Bid-Ask Spread %34.6816.7577.3827.1122.69
Gamma HHI0.090.070.110.080.09
Net GEX29.7M2.6M73.1M73.1M2.6M
Net DEX242.9M-410.6M804.3M-370.9M804.3M
Net VEX-10.7M-12.2M-8.8M-12.2M-8.8M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.690.042.660.670.55
Total Volume174,792.89568,518617,56592,18685,877
Total OI3,381,760.2112,805,7333,849,8423,254,6352,954,415

Daily Data (19 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2026-02-02$35.03$36.0031.4%8.1%28.6%13.6%28.8%-0.0%0.9%73.1M-370.9M-12.2M0.6727.1155,33936,8472,471,794782,841
2026-02-03$34.41$36.0031.5%8.2%27.8%13.8%30.8%0.7%-1.8%42.9M13.6M-11.5M0.1439.08206,44228,7632,500,403800,090
2026-02-04$33.41$36.0033.7%9.0%29.3%17.4%32.5%-3.6%16.1%17.6M470.6M-10.5M0.2477.38161,18238,0662,540,544817,596
2026-02-05$33.39$36.0035.0%9.4%28.6%19.6%35.4%0.4%0.6%20.1M328.7M-10.7M0.0447.76593,64923,9162,593,154812,014
2026-02-06$34.27$35.0030.4%9.0%30.1%12.1%32.3%0.6%0.1%56.2M-204.9M-12.0M0.0924.78183,75615,9102,691,515804,230
2026-02-09$34.34$35.0030.0%8.8%30.2%11.3%31.3%1.6%0.3%60.8M-302.2M-12.0M0.2148.8791,19919,4682,697,195784,151
2026-02-10$34.41$35.0029.6%8.8%23.0%10.8%30.9%0.8%0.8%66.3M-410.6M-12.0M0.3637.1872,08226,2642,692,389789,609
2026-02-11$34.06$35.0029.2%8.5%22.0%10.1%31.1%0.9%0.1%50.3M-192.6M-11.8M0.1830.32194,09534,1792,719,509796,453
2026-02-12$32.77$35.0030.2%8.9%25.2%11.7%31.6%3.0%2.1%13.6M468.0M-10.3M1.2327.15103,437126,7762,855,771810,267
2026-02-13$32.75$35.0030.0%8.6%25.2%11.4%34.3%1.0%-0.1%21.1M483.1M-10.3M0.1942.3488,32616,4272,904,599810,391
2026-02-17$32.77$35.0030.8%8.9%24.7%12.7%33.2%1.8%1.3%11.4M451.7M-9.8M0.5119.1961,60031,2952,882,521795,433
2026-02-18$32.95$35.0031.1%8.9%24.1%13.2%33.3%1.8%-0.3%20.3M321.8M-10.3M2.6622.9230,44980,9472,928,253787,511
2026-02-19$32.69$35.0031.7%9.0%22.7%14.2%32.8%2.0%0.3%6.9M526.5M-10.4M2.1937.4940,14288,0672,953,158849,422
2026-02-20$32.70$35.0031.3%9.0%22.3%13.5%33.6%1.0%-0.5%27.0M425.9M-10.5M0.1826.43143,02625,1823,022,258827,584
2026-02-23$32.27$35.0033.5%10.0%22.5%17.1%35.0%0.8%-1.0%27.5M288.9M-10.2M1.1829.1763,74074,9192,108,349697,384
2026-02-24$32.30$35.0031.7%9.4%22.6%14.2%34.8%1.7%0.1%23.4M352.8M-10.4M1.4216.7528,29940,2192,143,514742,554
2026-02-25$32.22$35.0030.9%9.2%22.4%12.8%34.9%0.9%0.6%19.9M401.5M-10.2M0.3639.0277,34927,6262,158,839758,021
2026-02-26$31.44$35.0029.4%8.5%22.9%10.4%31.4%1.0%-0.4%3.4M758.6M-9.4M0.7043.29180,187126,0182,197,516772,197
2026-02-27$31.12$35.0030.4%8.9%22.7%12.0%32.6%2.2%0.4%2.6M804.3M-8.8M0.5522.6955,47130,4062,192,913761,502