PPI Options History — February 2026 In February 2026, PPI traded between $19.65 and $21.93. ATM implied volatility averaged 36.4%, placing in the 1.7% IV rank vs the trailing year. The 30-day expected move averaged 9.6%. IV traded above realized volatility by 13.1% (HV 20d: 23.3%). Max pain ranged from $18.00 to $18.00. Net GEX was positive for 19 of 19 trading days. Term structure was in contango for 9 of 19 days. Put/call ratio averaged 0.00.
Notable Days 2026-02-20 : Highest Volume — 3 contracts2026-02-24 : Largest IV drop — 32.6% change2026-02-10 : Highest IV Rank — 3.9%2026-02-03 : Largest Expected Move — 11.8%Monthly Statistics Metric Avg Min Max Open Close Price $20.93 $19.65 $21.93 $19.67 $21.93 Max Pain $18.00 $18.00 $18.00 $18.00 $18.00 ATM IV 36.4% 26.2% 46.1% 40.4% 28.7% Expected Move 9.6% 7.5% 11.8% 11.6% 8.2% HV 20d 23.3% 20.4% 24.5% 20.4% 23.8% HV 60d 18.0% 17.2% 19.0% 17.2% 17.5% IV Rank 1.7% 0.0% 3.9% 2.4% 0.7% IV Percentile 24.6% 0.0% 55.6% 39.7% 1.2% Term Structure -0.4% -11.9% 11.6% -11.9% 9.9% Skew 25d 4.9% 2.0% 20.4% 3.0% 8.9% Skew 10d 6.5% 1.7% 9.9% 4.7% 4.2% Call IV 25d 38.3% 23.9% 50.9% 48.7% 33.4% Put IV 25d 43.3% 39.1% 53.2% 51.7% 42.3% Bid-Ask Spread % 155.02 140.38 164.58 143.97 154.56 Gamma HHI 0.66 0.48 1.00 0.48 1.00 Net GEX 371 119 516 489 119 Net DEX -11.1K -15.1K -6.4K -10.1K -6.9K Net VEX -33 -37 -28 -37 -28 Div Yield 0.0% 0.0% 0.0% 0.0% 0.0% P/C Ratio 0.00 0.00 0.00 0.00 0.00 Total Volume 0.211 0 3 0 0 Total OI 8.474 5 10 10 5
Daily Data (19 trading days) Date Price Max Pain ATM IV Exp Move HV 20d IV Rank VWIV Skew 25d Term Str GEX DEX VEX P/C Spread % Call Vol Put Vol Call OI Put OI 2026-02-02 $19.67 $18.00 40.4% 11.6% 20.4% 2.4% 0.0% 3.0% -11.9% 489 -10.1K -37 0.00 143.97 0 0 10 0 2026-02-03 $20.07 $18.00 41.3% 11.8% 20.4% 2.7% 0.0% 2.4% -8.9% 504 -11.2K -37 0.00 142.97 0 0 10 0 2026-02-04 $19.99 $18.00 40.5% 11.6% 20.4% 2.4% 0.0% 2.3% -10.0% 516 -11.0K -37 0.00 140.38 0 0 10 0 2026-02-05 $19.65 $0.00 44.3% 9.2% 21.0% 3.4% 0.0% 2.6% 4.6% 490 -10.0K -36 0.00 163.56 0 0 10 0 2026-02-06 $20.36 $0.00 44.2% 9.2% 23.7% 3.4% 0.0% 4.1% -3.3% 504 -12.1K -36 0.00 153.95 0 0 10 0 2026-02-09 $20.72 $0.00 45.7% 8.8% 23.8% 3.8% 0.0% 3.0% 5.3% 496 -13.2K -35 0.00 155.39 0 0 10 0 2026-02-10 $20.80 $0.00 46.1% 9.1% 23.7% 3.9% 0.0% 3.8% -3.5% 493 -13.5K -35 0.00 164.58 0 0 10 0 2026-02-11 $21.00 $0.00 35.5% 10.2% 23.7% 1.1% 0.0% 2.8% 4.1% 482 -14.1K -34 0.00 150.18 0 0 10 0 2026-02-12 $20.78 $0.00 31.1% 8.9% 24.1% 0.0% 0.0% 2.0% -5.0% 506 -13.5K -34 0.00 157.89 0 0 10 0 2026-02-13 $21.09 $0.00 32.7% 9.4% 24.4% 0.4% 0.0% 3.9% 3.5% 480 -14.4K -33 0.00 159.87 1 0 10 0 2026-02-17 $21.00 $0.00 34.4% 9.9% 24.5% 0.9% 0.0% 4.1% -6.3% 416 -12.7K -31 0.00 160.34 0 0 9 0 2026-02-18 $21.19 $0.00 34.7% 9.9% 24.3% 1.0% 0.0% 3.2% -6.7% 398 -13.2K -31 0.00 159.85 0 0 9 0 2026-02-19 $21.30 $0.00 35.7% 10.2% 24.2% 1.2% 0.0% 4.4% 5.7% 389 -13.5K -30 0.00 160.68 0 0 9 0 2026-02-20 $21.48 $0.00 36.5% 10.5% 24.2% 1.4% 0.0% 4.1% -5.8% 152 -15.1K -29 0.00 160.16 3 0 9 0 2026-02-23 $21.42 $0.00 38.8% 11.1% 24.3% 2.0% 0.0% 3.7% -7.8% 152 -6.4K -29 0.00 154.76 0 0 5 0 2026-02-24 $21.67 $0.00 26.2% 7.5% 24.4% 0.0% 0.0% 20.4% 11.6% 155 -6.7K -29 0.00 157.53 0 0 5 0 2026-02-25 $21.77 $0.00 27.6% 7.9% 24.2% 0.4% 0.0% 7.7% 9.3% 156 -6.8K -29 0.00 153.79 0 0 5 0 2026-02-26 $21.86 $0.00 27.8% 8.0% 24.1% 0.4% 0.0% 7.4% 8.3% 160 -6.9K -29 0.00 151.05 0 0 5 0 2026-02-27 $21.93 $0.00 28.7% 8.2% 23.8% 0.7% 0.0% 8.9% 9.9% 119 -6.9K -28 0.00 154.56 0 0 5 0
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