C Options History — January 2026

In January 2026, C traded between $111.90 and $123.48. ATM implied volatility averaged 29.8%, placing in the 18.9% IV rank vs the trailing year. The 30-day expected move averaged 8.4%. IV traded below realized volatility by 1.3% (HV 20d: 31.1%). Max pain ranged from $80.00 to $120.00. Net GEX was positive for 19 of 20 trading days. Term structure was in contango for 5 of 20 days. Put/call ratio averaged 1.07.

Notable Days

2026-01-30: Highest Volume — 209,620 contracts
2026-01-20: Largest IV spike — 14.8% change
2026-01-07: Highest IV Rank — 24.9%
2026-01-02: Largest Expected Move — 9.2%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$116.90	$111.90	$123.48	$118.34	$115.67
Max Pain	$115.00	$80.00	$120.00	$80.00	$115.00
ATM IV	29.8%	27.1%	32.6%	30.3%	29.5%
Expected Move	8.4%	7.6%	9.2%	9.2%	8.3%
HV 20d	31.1%	21.0%	37.3%	21.0%	34.7%
HV 60d	26.3%	24.4%	27.8%	24.5%	27.2%
IV Rank	18.9%	13.8%	24.9%	20.4%	15.3%
IV Percentile	58.6%	32.9%	79.0%	66.7%	56.7%
Term Structure	-0.3%	-1.5%	1.9%	-1.0%	0.1%
VWIV	29.7%	26.8%	34.0%	34.0%	29.0%
Skew 25d	3.2%	2.2%	4.4%	3.5%	2.7%
Skew 10d	6.5%	3.5%	9.4%	9.4%	6.8%
Call IV 25d	28.4%	26.1%	30.5%	29.0%	28.2%
Put IV 25d	31.6%	29.0%	34.2%	32.5%	30.9%
Bid-Ask Spread %	30.71	13.34	48.32	13.34	23.68
Gamma HHI	0.10	0.06	0.17	0.14	0.08
Net GEX	41.8M	-4.4M	75.3M	58.3M	23.7M
Net DEX	-4.46B	-6.82B	-2.55B	-5.90B	-2.96B
Net VEX	-19.7M	-21.1M	-17.1M	-18.3M	-20.6M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	1.07	0.11	5.80	0.79	0.11
Total Volume	79,550.7	28,044	209,620	50,281	209,620
Total OI	1,456,174.05	1,184,843	1,728,062	1,580,448	1,294,350

Daily Data (20 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
2026-01-02	$118.34	$80.00	30.3%	9.2%	21.0%	20.4%	34.0%	3.5%	-1.0%	58.3M	-5.90B	-18.3M	0.79	13.34	28,114	22,167	748,670	831,778
2026-01-05	$123.48	$115.00	31.4%	8.4%	24.8%	22.6%	29.8%	3.9%	0.2%	73.2M	-6.82B	-17.1M	0.53	27.42	85,233	45,240	735,907	822,246
2026-01-06	$122.83	$120.00	31.9%	8.5%	24.9%	23.5%	30.1%	3.0%	-1.2%	74.7M	-6.69B	-17.8M	0.72	34.15	24,855	17,926	769,546	842,422
2026-01-07	$121.18	$120.00	32.6%	8.8%	25.5%	24.9%	30.7%	3.5%	-1.2%	68.5M	-6.34B	-18.2M	0.78	36.70	20,108	15,700	776,370	844,492
2026-01-08	$120.81	$120.00	32.1%	8.7%	25.7%	23.9%	30.5%	4.1%	-0.1%	67.1M	-6.15B	-19.5M	1.01	31.62	20,855	21,001	779,238	851,624
2026-01-09	$121.25	$120.00	31.3%	8.6%	24.9%	22.3%	30.5%	3.5%	-0.6%	75.3M	-6.29B	-19.2M	0.53	42.07	41,512	21,817	784,906	859,975
2026-01-12	$117.67	$120.00	32.4%	8.7%	27.7%	24.5%	31.3%	4.4%	-1.5%	54.8M	-5.54B	-19.0M	0.83	30.98	47,639	39,626	769,131	838,494
2026-01-13	$115.72	$120.00	31.9%	8.8%	28.5%	23.4%	31.5%	2.3%	-0.9%	49.4M	-5.14B	-19.8M	1.26	37.73	58,846	73,994	782,004	857,388
2026-01-14	$111.90	$120.00	28.1%	8.0%	30.8%	15.9%	28.9%	2.2%	-0.2%	12.1M	-4.14B	-20.1M	0.73	48.32	82,452	60,508	793,063	896,448
2026-01-15	$117.03	$115.00	28.4%	8.1%	34.2%	16.4%	28.5%	2.8%	-0.2%	41.2M	-5.49B	-20.0M	0.64	36.56	59,299	37,996	809,074	908,124
2026-01-16	$117.83	$115.00	27.3%	7.6%	34.2%	14.1%	26.8%	2.4%	-0.8%	67.4M	-5.72B	-19.8M	0.33	42.14	106,764	35,361	815,570	912,492
2026-01-20	$112.89	$115.00	31.3%	8.9%	37.3%	22.3%	31.4%	4.4%	-0.3%	23.6M	-2.55B	-20.6M	1.10	31.23	34,437	37,938	572,526	612,317
2026-01-21	$114.16	$115.00	28.7%	8.2%	37.2%	17.0%	28.4%	3.2%	0.6%	25.7M	-2.75B	-20.8M	0.90	26.62	25,458	22,950	583,782	631,756
2026-01-22	$115.39	$115.00	27.5%	7.9%	35.9%	14.6%	27.4%	2.6%	-0.2%	33.1M	-2.97B	-20.6M	0.49	27.79	25,401	12,453	590,759	636,736
2026-01-23	$113.80	$115.00	27.1%	7.8%	35.9%	13.8%	27.6%	3.2%	-0.2%	21.2M	-2.66B	-20.7M	1.57	25.83	24,836	39,092	595,996	640,038
2026-01-26	$114.94	$115.00	27.5%	7.9%	35.2%	14.7%	27.6%	3.2%	1.9%	25.8M	-2.92B	-20.1M	0.63	22.27	17,179	10,865	568,255	640,278
2026-01-27	$114.72	$115.00	28.1%	8.1%	35.0%	15.9%	29.5%	3.8%	0.8%	27.0M	-2.86B	-20.5M	1.35	20.39	12,284	16,539	574,846	644,142
2026-01-28	$113.82	$115.00	29.7%	8.3%	34.5%	16.8%	30.8%	3.6%	-1.4%	18.7M	-2.70B	-20.4M	5.80	32.76	14,858	86,157	576,597	645,996
2026-01-29	$114.60	$115.00	29.4%	8.4%	34.5%	16.1%	30.1%	2.4%	-0.5%	-4.4M	-2.68B	-21.1M	1.26	22.60	15,031	18,903	579,796	706,349
2026-01-30	$115.67	$115.00	29.5%	8.3%	34.7%	15.3%	29.0%	2.7%	0.1%	23.7M	-2.96B	-20.6M	0.11	23.68	188,070	21,550	583,287	711,063