USMV Options History — February 2026

In February 2026, USMV traded between $94.90 and $97.72. ATM implied volatility averaged 12.3%, placing in the 15.9% IV rank vs the trailing year. The 30-day expected move averaged 3.5%. IV traded above realized volatility by 5.0% (HV 20d: 7.3%). Max pain ranged from $90.00 to $94.00. Net GEX was positive for 0 of 19 trading days. Term structure was in contango for 12 of 19 days. Put/call ratio averaged 4.88.

Notable Days

  • 2026-02-25: Highest Volume — 45 contracts
  • 2026-02-04: Largest IV spike — 83.1% change
  • 2026-02-04: Highest IV Rank — 27.4%
  • 2026-02-04: Largest Expected Move — 4.8%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$95.92$94.90$97.72$95.40$97.72
Max Pain$93.37$90.00$94.00$90.00$94.00
ATM IV12.3%7.6%16.9%8.7%10.7%
Expected Move3.5%2.2%4.8%2.5%3.1%
HV 20d7.3%6.5%8.0%7.6%6.8%
HV 60d7.5%6.9%7.9%7.9%7.1%
IV Rank15.9%4.1%27.4%6.9%12.0%
IV Percentile58.6%4.8%89.7%17.1%45.2%
Term Structure0.3%-4.4%3.9%3.0%3.9%
VWIV13.2%7.1%22.4%12.6%7.1%
Skew 25d4.5%0.3%8.4%5.4%3.8%
Skew 10d2.8%-1.1%8.7%0.4%0.2%
Call IV 25d9.4%7.2%12.7%10.2%7.9%
Put IV 25d13.9%7.8%17.7%15.7%11.7%
Bid-Ask Spread %112.19101.16130.65123.53116.03
Gamma HHI0.180.170.250.180.25
Net GEX-201.9K-262.8K-76.8K-215.2K-76.8K
Net DEX-79.9K-1.7M938.6K238.3K-1.7M
Net VEX-21.7K-25.4K-15.6K-23.3K-15.6K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio4.880.0028.000.183.25
Total Volume12.7892451317
Total OI2,137.5262,0532,1872,1132,130

Daily Data (19 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2026-02-02$95.40$90.008.7%2.5%7.6%6.9%12.6%5.4%3.0%-215.2K238.3K-23.3K0.18123.53N/AN/A1124471,666
2026-02-03$94.90$90.009.2%2.6%7.8%8.2%0.0%0.3%1.7%-204.2K855.8K-25.0K0.00117.92N/AN/A0104581,666
2026-02-04$95.19$90.0016.9%4.8%7.4%27.4%0.0%6.7%-2.1%-250.3K938.6K-25.4K0.00130.65N/AN/A504591,676
2026-02-05$94.95$94.0015.4%4.3%7.2%23.6%12.7%5.1%-4.4%-262.8K795.9K-25.2K1.00126.01N/AN/A114641,676
2026-02-06$95.91$94.0014.1%3.9%8.0%20.3%0.0%7.0%-2.9%-216.3K438.9K-24.6K0.00118.76N/AN/A804651,677
2026-02-09$95.95$94.0012.8%2.3%7.9%17.2%0.0%1.4%2.6%-213.4K-240.0K-21.7K0.00121.28N/AN/A0144711,677
2026-02-10$96.00$94.0010.2%3.2%7.9%10.7%10.0%3.5%0.1%-194.8K-141.1K-23.0K2.00111.37N/AN/A244711,690
2026-02-11$96.00$94.007.6%2.2%7.6%4.1%0.0%0.3%3.7%-211.9K-154.3K-22.0K0.00114.68N/AN/A024691,689
2026-02-12$95.52$94.0011.9%3.4%7.8%14.9%13.1%3.0%1.0%-192.7K-225.7K-21.8K1.75106.08N/AN/A474691,688
2026-02-13$95.95$94.0010.9%3.1%7.9%12.4%20.0%5.7%-0.5%-192.1K-282.7K-21.9K0.08110.40N/AN/A1314681,693
2026-02-17$95.88$94.0011.3%3.3%7.9%13.5%11.1%2.4%0.2%-168.4K-385.3K-20.4K2.00105.08N/AN/A364741,693
2026-02-18$95.94$94.0012.1%3.5%7.1%15.4%13.4%2.8%-0.8%-173.3K-283.5K-20.4K1.00101.31N/AN/A224751,699
2026-02-19$95.88$94.0012.5%3.6%6.7%16.4%10.4%3.1%1.4%-163.1K-119.1K-21.1K0.00106.43N/AN/A2104761,701
2026-02-20$96.12$94.0014.6%4.2%6.6%21.7%13.7%8.3%-1.7%-167.8K-223.6K-21.3K4.50104.43N/AN/A4184861,701
2026-02-23$95.73$94.0012.6%3.6%6.8%16.5%13.8%8.1%0.7%-232.1K324.4K-21.5K28.00101.16N/AN/A1284501,603
2026-02-24$96.31$94.0013.6%3.9%6.6%19.2%22.4%6.2%1.7%-252.5K-358.5K-19.0K0.00101.51N/AN/A024501,631
2026-02-25$96.34$94.0014.1%4.0%6.5%20.4%11.1%8.4%1.5%-261.0K-110.7K-20.3K21.50104.34N/AN/A2434501,632
2026-02-26$96.80$94.0014.6%4.2%6.6%21.7%0.0%4.1%-3.3%-187.9K-846.8K-18.3K8.00110.68N/AN/A184521,671
2026-02-27$97.72$94.0010.7%3.1%6.8%12.0%7.1%3.8%3.9%-76.8K-1.7M-15.6K3.25116.03N/AN/A4134511,679