C Options History — February 2026

In February 2026, C traded between $109.23 and $124.10. ATM implied volatility averaged 34.2%, placing in the 23.4% IV rank vs the trailing year. The 30-day expected move averaged 9.9%. IV traded below realized volatility by 3.6% (HV 20d: 37.8%). Max pain ranged from $105.00 to $115.00. Net GEX was positive for 15 of 19 trading days. Term structure was in contango for 2 of 19 days. Put/call ratio averaged 0.77.

Notable Days

2026-02-27: Highest Volume — 112,141 contracts
2026-02-12: Largest IV spike — 16.0% change
2026-02-12: Highest IV Rank — 31.4%
2026-02-27: Largest Expected Move — 11.4%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$115.61	$109.23	$124.10	$116.30	$109.96
Max Pain	$106.74	$105.00	$115.00	$115.00	$108.00
ATM IV	34.2%	29.0%	38.0%	29.0%	37.8%
Expected Move	9.9%	8.1%	11.4%	8.1%	11.4%
HV 20d	37.8%	30.7%	47.7%	34.5%	47.7%
HV 60d	31.0%	27.0%	36.3%	27.1%	36.3%
IV Rank	23.4%	14.0%	31.4%	14.0%	30.9%
IV Percentile	82.1%	51.6%	93.3%	51.6%	92.9%
Term Structure	-0.6%	-2.0%	0.7%	-0.7%	-2.0%
VWIV	35.0%	28.7%	39.8%	28.7%	39.8%
Skew 25d	4.9%	2.9%	7.0%	2.9%	7.0%
Skew 10d	9.7%	5.7%	13.7%	5.7%	13.3%
Call IV 25d	32.1%	27.9%	37.1%	27.9%	35.4%
Put IV 25d	37.1%	30.7%	42.5%	30.7%	42.5%
Bid-Ask Spread %	40.78	23.04	54.16	27.55	36.22
Gamma HHI	0.08	0.06	0.12	0.07	0.07
Net GEX	18.7M	-61.4M	73.3M	19.5M	-1.4M
Net DEX	-2.78B	-4.29B	-1.51B	-2.98B	-1.83B
Net VEX	-21.3M	-22.3M	-19.6M	-20.4M	-22.3M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.77	0.33	1.46	0.68	1.46
Total Volume	67,333.158	34,222	112,141	46,131	112,141
Total OI	1,314,136.421	1,222,291	1,384,980	1,248,198	1,325,483

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	$116.30	$115.00	29.0%	8.1%	34.5%	14.0%	28.7%	2.9%	-0.7%	19.5M	-2.98B	-20.4M	0.68	27.55	27,402	18,729	553,906	694,292
2026-02-03	$117.18	$115.00	31.7%	9.2%	30.7%	18.7%	32.8%	4.3%	-1.4%	30.2M	-3.11B	-20.6M	1.18	31.89	31,027	36,547	564,011	698,299
2026-02-04	$118.05	$115.00	32.4%	9.2%	30.9%	19.2%	32.9%	4.4%	-0.3%	35.1M	-3.24B	-20.9M	0.71	23.04	32,297	22,917	573,139	712,197
2026-02-05	$115.94	$105.00	34.3%	9.7%	31.2%	23.4%	34.4%	5.0%	-0.4%	12.9M	-2.74B	-21.7M	0.81	43.69	28,697	23,300	577,751	722,347
2026-02-06	$122.31	$105.00	31.5%	9.0%	36.9%	17.4%	31.3%	3.9%	-0.4%	73.3M	-4.06B	-20.6M	0.69	49.98	55,418	38,075	583,484	731,358
2026-02-09	$124.10	$105.00	31.0%	8.8%	37.2%	16.4%	31.1%	3.7%	-0.6%	61.1M	-4.29B	-19.6M	0.50	44.74	45,309	22,583	575,311	724,041
2026-02-10	$122.09	$105.00	32.6%	9.4%	36.0%	19.8%	35.6%	5.1%	0.1%	50.1M	-3.83B	-20.3M	0.85	40.11	30,920	26,404	582,220	731,367
2026-02-11	$117.66	$105.00	32.8%	9.4%	38.0%	20.1%	33.1%	4.6%	-0.1%	12.7M	-3.03B	-20.9M	0.47	44.78	40,239	18,855	588,024	746,634
2026-02-12	$111.28	$105.00	38.0%	10.9%	41.4%	31.4%	37.6%	4.1%	0.7%	-34.1M	-1.77B	-21.8M	0.93	49.38	54,565	50,955	594,148	747,905
2026-02-13	$110.14	$105.00	36.8%	10.5%	37.9%	28.8%	37.2%	4.7%	-0.4%	-61.4M	-1.51B	-22.0M	0.75	52.36	57,169	42,978	613,898	760,029
2026-02-17	$113.98	$105.00	35.7%	10.2%	40.0%	26.4%	36.2%	4.9%	-0.4%	-12.0M	-2.40B	-22.1M	0.71	42.57	31,881	22,503	605,725	749,386
2026-02-18	$115.77	$105.00	34.3%	9.8%	37.3%	23.5%	34.3%	4.8%	-1.1%	18.5M	-2.90B	-21.6M	0.57	46.53	32,181	18,491	618,917	757,779
2026-02-19	$115.57	$105.00	35.4%	10.2%	37.1%	25.8%	37.9%	5.3%	-0.7%	11.2M	-2.74B	-21.9M	1.10	46.84	16,288	17,934	617,939	759,950
2026-02-20	$115.67	$105.00	32.6%	9.5%	37.0%	19.8%	34.8%	5.2%	-1.6%	28.7M	-2.85B	-21.5M	0.70	54.16	34,947	24,562	621,034	763,946
2026-02-23	$111.06	$105.00	37.7%	11.0%	39.4%	30.7%	38.5%	6.2%	-0.7%	15.1M	-2.05B	-21.7M	0.67	36.06	56,731	38,188	563,927	658,364
2026-02-24	$109.23	$105.00	36.7%	11.0%	39.6%	28.7%	37.7%	5.4%	-1.1%	7.2M	-1.78B	-21.8M	0.77	36.95	28,924	22,345	582,814	680,355
2026-02-25	$114.07	$105.00	34.9%	10.1%	42.8%	24.7%	34.6%	6.6%	-0.2%	31.2M	-2.64B	-21.3M	0.33	34.40	43,754	14,511	593,513	688,421
2026-02-26	$116.30	$105.00	34.6%	9.9%	43.2%	24.1%	36.1%	6.0%	-0.6%	56.8M	-3.10B	-21.9M	0.75	33.49	34,044	25,519	613,506	693,172
2026-02-27	$109.96	$108.00	37.8%	11.4%	47.7%	30.9%	39.8%	7.0%	-2.0%	-1.4M	-1.83B	-22.3M	1.46	36.22	45,589	66,552	618,809	706,674