USMV Options History — January 2026

In January 2026, USMV traded between $93.59 and $95.54. ATM implied volatility averaged 10.8%, placing in the 12.2% IV rank vs the trailing year. The 30-day expected move averaged 3.1%. IV traded above realized volatility by 3.3% (HV 20d: 7.5%). Max pain ranged from $90.00 to $93.00. Net GEX was positive for 0 of 20 trading days. Term structure was in contango for 13 of 20 days. Put/call ratio averaged 3.95.

Notable Days

  • 2026-01-06: Highest Volume — 300 contracts
  • 2026-01-12: Largest IV spike — 51.7% change
  • 2026-01-13: Highest IV Rank — 23.4%
  • 2026-01-14: Largest Expected Move — 3.9%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$94.53$93.59$95.54$93.59$94.88
Max Pain$90.15$90.00$93.00$93.00$90.00
ATM IV10.8%8.0%15.3%12.4%9.2%
Expected Move3.1%2.3%3.9%3.6%2.6%
HV 20d7.5%6.6%8.4%7.0%8.1%
HV 60d8.2%7.8%8.4%8.3%7.8%
IV Rank12.2%5.2%23.4%16.1%8.1%
IV Percentile47.5%7.9%83.3%67.1%26.2%
Term Structure0.6%-3.7%3.5%-0.0%2.6%
VWIV10.9%6.7%13.5%11.1%6.7%
Skew 25d2.8%-0.8%5.5%2.7%0.8%
Skew 10d1.5%-1.8%6.1%-0.4%1.2%
Call IV 25d7.8%6.4%10.7%9.3%7.4%
Put IV 25d10.6%8.1%14.7%12.0%8.1%
Bid-Ask Spread %119.29109.78126.77125.02118.24
Gamma HHI0.180.150.200.200.18
Net GEX-221.5K-278.5K-148.5K-215.1K-231.7K
Net DEX563.2K-22.8K1.3M905.2K461.0K
Net VEX-25.6K-27.9K-22.4K-26.8K-23.1K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio3.950.0031.002.105.40
Total Volume7503006264
Total OI2,131.61,9182,3211,9872,055

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2026-01-02$93.59$93.0012.4%3.6%7.0%16.1%11.1%2.7%-0.0%-215.1K905.2K-26.8K2.10125.02N/AN/A20424681,519
2026-01-05$93.95$90.0010.3%3.5%7.1%11.0%11.1%4.9%0.5%-166.6K1.0M-27.2K0.63109.78N/AN/A82524881,540
2026-01-06$94.66$90.0010.5%3.2%7.6%11.4%0.0%5.5%0.7%-148.5K364.3K-26.6K0.30125.18N/AN/A230705141,590
2026-01-07$94.18$90.0012.6%3.4%7.4%16.7%0.0%3.7%0.5%-157.4K118.9K-26.4K4.25124.06N/AN/A401705641,660
2026-01-08$94.47$90.0011.1%3.4%7.4%12.9%0.0%1.6%3.5%-262.5K601.0K-27.9K0.00118.05N/AN/A2505541,696
2026-01-09$94.70$90.008.3%2.8%7.4%5.8%0.0%3.8%-1.5%-275.3K-17.5K-26.6K31.00120.32N/AN/A2625721,696
2026-01-12$94.72$90.0012.5%3.2%7.1%16.5%0.0%3.3%2.6%-278.1K-22.8K-25.5K4.27115.12N/AN/A11475721,693
2026-01-13$94.16$90.0015.3%2.9%7.4%23.4%10.7%3.5%-0.7%-151.8K464.8K-26.8K0.00117.23N/AN/A7005811,740
2026-01-14$94.47$90.0013.5%3.9%7.4%19.0%11.3%3.8%1.6%-230.0K322.3K-26.0K0.00120.12N/AN/A4705811,740
2026-01-15$94.45$90.008.4%2.4%6.6%6.0%0.0%2.6%1.7%-213.6K286.1K-25.2K0.31121.22N/AN/A1345571,740
2026-01-16$94.41$90.0011.9%3.4%6.6%15.0%11.5%0.9%-0.2%-233.0K671.9K-26.2K0.08118.56N/AN/A7965691,744
2026-01-20$93.59$90.0011.3%3.2%7.3%13.4%13.5%3.0%-0.3%-194.1K1.3M-27.2K14.18111.82N/AN/A111565001,418
2026-01-21$94.28$90.009.7%2.8%7.7%9.3%11.2%-0.8%0.4%-173.8K871.9K-26.2K0.21125.10N/AN/A73155111,568
2026-01-22$94.69$90.0011.2%3.2%7.7%13.2%0.0%4.2%-0.4%-235.3K1.0M-26.2K0.33121.67N/AN/A314401,589
2026-01-23$94.80$90.008.3%2.4%7.7%5.9%0.0%2.4%1.6%-240.6K1.0M-25.8K0.00117.25N/AN/A024391,590
2026-01-26$95.54$90.0010.8%3.1%8.1%12.1%0.0%4.7%-3.7%-253.5K201.4K-22.4K0.00111.44N/AN/A004391,592
2026-01-27$95.30$90.008.0%2.3%8.1%5.2%0.0%-0.2%1.4%-278.5K450.5K-22.6K4.00116.49N/AN/A144391,592
2026-01-28$95.10$90.0010.7%3.1%8.2%11.9%0.0%4.2%1.3%-237.2K658.2K-24.0K0.00126.77N/AN/A0934401,588
2026-01-29$94.57$90.0010.8%3.1%8.4%12.2%0.0%0.7%0.8%-253.6K614.3K-23.5K0.00122.31N/AN/A504401,614
2026-01-30$94.88$90.009.2%2.6%8.1%8.1%6.7%0.8%2.6%-231.7K461.0K-23.1K5.40118.24N/AN/A10544431,612