SPXS Options History — February 2026

In February 2026, SPXS traded between $33.66 and $36.50. ATM implied volatility averaged 49.2%, placing in the 17.3% IV rank vs the trailing year. The 30-day expected move averaged 14.1%. IV traded above realized volatility by 8.7% (HV 20d: 40.5%). Max pain ranged from $34.00 to $41.00. Net GEX was positive for 19 of 19 trading days. Term structure was in contango for 11 of 19 days. Put/call ratio averaged 0.18.

Notable Days

  • 2026-02-23: Highest Volume — 13,460 contracts
  • 2026-02-06: Largest IV drop — 25.1% change
  • 2026-02-05: Highest IV Rank — 24.9%
  • 2026-02-23: Largest Expected Move — 16.6%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$34.94$33.66$36.50$33.66$35.36
Max Pain$35.47$34.00$41.00$35.00$34.00
ATM IV49.2%40.5%58.8%40.5%50.2%
Expected Move14.1%10.7%16.6%10.7%15.7%
HV 20d40.5%33.2%45.5%33.2%42.1%
HV 60d34.8%33.5%36.2%34.6%33.9%
IV Rank17.3%10.4%24.9%10.4%18.1%
IV Percentile60.3%26.2%86.1%26.2%65.5%
Term Structure0.2%-6.4%6.9%-2.5%-4.6%
VWIV49.5%39.0%60.1%39.0%52.3%
Skew 25d-24.3%-37.6%-12.1%-12.6%-29.5%
Skew 10d-36.7%-56.8%-14.9%-32.3%-49.3%
Call IV 25d60.8%51.3%70.7%51.3%66.7%
Put IV 25d36.5%26.3%47.0%38.7%37.2%
Bid-Ask Spread %71.3858.0184.2273.1358.01
Gamma HHI0.220.100.640.220.17
Net GEX2.1M1.0M4.9M1.2M2.3M
Net DEX-20.4M-34.0M-5.1M-5.6M-33.2M
Net VEX-207.9K-224.4K-191.2K-199.7K-210.3K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.180.080.340.290.09
Total Volume5,513.8422,09913,4604,1666,929
Total OI45,508.68437,73452,41738,72752,417

Daily Data (19 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2026-02-02$33.66$35.0040.5%10.7%33.2%10.4%39.0%-12.6%-2.5%1.2M-5.6M-199.7K0.2973.13N/AN/A3,23493219,90118,826
2026-02-03$34.72$34.0050.3%14.9%34.3%18.2%50.1%-17.6%0.4%1.5M-17.7M-202.9K0.0876.43N/AN/A5,02238321,99119,643
2026-02-04$34.86$34.0048.9%14.1%33.7%17.0%49.2%-20.1%3.5%1.5M-18.3M-224.4K0.2875.29N/AN/A2,77078922,51019,879
2026-02-05$36.50$41.0058.8%15.9%37.1%24.9%45.8%-22.0%-6.4%1.6M-34.0M-209.3K0.2861.31N/AN/A6,1761,73623,87520,192
2026-02-06$34.34$41.0044.1%12.4%43.5%13.2%47.0%-24.5%0.6%2.1M-16.6M-212.0K0.1360.09N/AN/A6,58388526,32021,464
2026-02-09$33.77$37.0042.8%12.9%43.2%12.2%47.1%-18.8%-0.3%1.1M-5.1M-206.0K0.2459.39N/AN/A2,97870922,16520,043
2026-02-10$34.03$36.0043.0%13.1%43.2%12.4%46.2%-27.9%2.7%1.4M-8.7M-200.8K0.0969.88N/AN/A1,92717224,14620,290
2026-02-11$34.11$36.0045.6%13.5%42.9%14.4%47.1%-15.8%3.9%1.8M-9.9M-213.2K0.1870.64N/AN/A1,92833925,32620,441
2026-02-12$35.64$35.0052.8%15.5%45.5%20.1%57.2%-12.1%4.0%2.4M-29.0M-196.3K0.2765.85N/AN/A5,3861,47526,05520,565
2026-02-13$36.00$35.0054.1%15.1%45.3%21.2%60.1%-33.1%-2.9%3.2M-31.5M-218.8K0.1265.53N/AN/A6,07073526,71621,375
2026-02-17$35.64$36.0054.4%15.7%45.5%21.4%49.7%-29.6%-4.9%1.9M-24.2M-203.8K0.2173.51N/AN/A4,7311,01122,25319,977
2026-02-18$35.17$35.0049.0%14.0%39.8%17.1%51.5%-31.6%2.6%2.4M-20.5M-209.7K0.1180.36N/AN/A3,76842324,86120,646
2026-02-19$35.56$35.0051.0%14.5%37.7%18.7%49.7%-25.8%2.9%2.9M-28.9M-207.7K0.1776.21N/AN/A3,71662126,92520,891
2026-02-20$34.73$34.0048.3%13.6%38.4%16.5%46.0%-23.9%3.3%4.9M-15.3M-191.2K0.3479.22N/AN/A3,9101,32127,54821,207
2026-02-23$35.89$34.0055.2%16.6%40.1%22.0%58.8%-32.1%-0.4%1.0M-20.2M-197.8K0.1773.30N/AN/A11,5211,93920,04617,688
2026-02-24$34.97$34.0047.0%13.0%40.7%15.5%47.3%-37.6%6.9%1.8M-26.4M-218.9K0.0978.18N/AN/A3,13828528,34419,461
2026-02-25$34.15$34.0046.9%11.8%41.5%15.5%47.4%-28.2%0.2%1.9M-18.5M-215.7K0.1684.22N/AN/A4,29869830,26519,617
2026-02-26$34.70$34.0052.2%15.0%41.8%19.6%48.9%-18.9%-5.2%2.1M-24.5M-211.6K0.0975.60N/AN/A5,71750830,68220,114
2026-02-27$35.36$34.0050.2%15.7%42.1%18.1%52.3%-29.5%-4.6%2.3M-33.2M-210.3K0.0958.01N/AN/A6,37555431,86720,550