ETQ Options History — January 2026

In January 2026, ETQ traded between $32.48 and $48.72. ATM implied volatility averaged 114.4%, placing in the 20.6% IV rank vs the trailing year. The 30-day expected move averaged 32.9%. IV traded above realized volatility by 6.9% (HV 20d: 107.5%). Max pain ranged from $45.00 to $45.00. Net GEX was positive for 15 of 20 trading days. Term structure was in contango for 17 of 20 days. Put/call ratio averaged 0.00.

Notable Days

2026-01-02: Highest Volume — 2 contracts
2026-01-06: Largest IV spike — 11.7% change
2026-01-06: Highest IV Rank — 22.9%
2026-01-07: Largest Expected Move — 35.0%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$39.08	$32.48	$48.72	$38.79	$48.72
Max Pain	$45.00	$45.00	$45.00	$45.00	$45.00
ATM IV	114.4%	103.5%	125.4%	115.0%	118.8%
Expected Move	32.9%	29.7%	35.0%	33.0%	34.1%
HV 20d	107.5%	94.9%	122.0%	118.7%	118.1%
HV 60d	536.1%	141.8%	634.9%	634.3%	141.8%
IV Rank	20.6%	18.4%	22.9%	20.8%	21.6%
IV Percentile	14.7%	10.6%	22.5%	12.7%	21.2%
Term Structure	4.6%	-4.8%	11.5%	-4.8%	4.9%
Skew 25d	-2.9%	-22.2%	28.7%	-22.2%	-9.3%
Skew 10d	-8.0%	-37.4%	24.5%	-16.0%	-22.3%
Call IV 25d	113.8%	84.7%	134.0%	120.6%	121.2%
Put IV 25d	111.0%	88.6%	125.0%	98.4%	111.9%
Bid-Ask Spread %	79.86	56.76	111.60	103.21	95.50
Gamma HHI	0.20	0.17	0.24	0.21	0.21
Net GEX	32	-19	110	110	-19
Net DEX	-8.1K	-13.1K	-3.1K	-9.7K	-13.1K
Net VEX	-41	-46	-28	-28	-45
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.00	0.00	0.00	0.00	0.00
Total Volume	0.2	0	2	2	0
Total OI	8.7	7	10	8	8

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	Spread %	Call Vol	Put Vol	Call OI	Put OI
2026-01-02	$38.79	$45.00	115.0%	33.0%	118.7%	20.8%	0.0%	-22.2%	-4.8%	110	-9.7K	-28	103.21	0	2	6	2
2026-01-05	$35.70	$0.00	112.2%	34.8%	122.0%	20.2%	0.0%	-11.0%	5.8%	61	-5.1K	-43	56.76	0	0	6	4
2026-01-06	$35.68	$0.00	125.4%	34.4%	118.6%	22.9%	0.0%	-6.1%	9.7%	59	-4.9K	-43	59.92	0	0	6	4
2026-01-07	$38.23	$0.00	121.0%	35.0%	119.4%	22.0%	0.0%	-4.9%	4.5%	78	-6.1K	-43	61.98	0	0	6	4
2026-01-08	$39.05	$0.00	118.9%	34.3%	109.3%	21.6%	0.0%	-6.4%	7.3%	86	-6.6K	-44	57.87	0	0	6	4
2026-01-09	$39.64	$0.00	107.9%	33.0%	107.8%	19.3%	0.0%	-5.5%	7.1%	86	-6.5K	-42	60.03	0	0	6	4
2026-01-12	$38.91	$0.00	113.2%	33.7%	101.3%	20.4%	0.0%	-6.8%	5.4%	77	-6.1K	-41	63.39	0	0	6	4
2026-01-13	$36.48	$0.00	119.2%	32.2%	98.8%	21.6%	0.0%	-1.9%	11.5%	47	-5.0K	-40	70.72	0	0	6	4
2026-01-14	$32.48	$0.00	116.6%	33.4%	99.4%	21.1%	0.0%	6.6%	2.7%	19	-3.1K	-39	89.55	0	0	6	4
2026-01-15	$34.20	$0.00	116.5%	33.4%	102.4%	21.1%	0.0%	28.7%	6.1%	18	-6.8K	-39	90.71	0	0	6	3
2026-01-16	$34.12	$0.00	112.5%	32.3%	94.9%	20.3%	0.0%	21.4%	7.1%	16	-7.2K	-39	95.69	0	0	6	3
2026-01-20	$40.14	$0.00	112.7%	32.3%	113.9%	20.3%	0.0%	-5.2%	5.3%	10	-10.0K	-39	80.31	0	0	4	3
2026-01-21	$39.52	$0.00	115.5%	33.1%	99.2%	20.9%	0.0%	-1.9%	-3.7%	11	-10.0K	-38	84.52	1	0	4	3
2026-01-22	$41.80	$0.00	109.6%	31.4%	101.4%	19.7%	0.0%	-5.5%	5.6%	8	-11.0K	-38	86.06	0	0	4	3
2026-01-23	$41.69	$0.00	108.2%	31.0%	101.4%	19.4%	0.0%	-4.6%	6.2%	8	-10.7K	-38	76.07	0	1	4	3
2026-01-26	$42.33	$0.00	112.4%	32.2%	101.1%	20.2%	0.0%	-10.3%	0.7%	-10	-10.1K	-46	77.72	0	0	4	4
2026-01-27	$39.67	$0.00	103.5%	29.7%	103.4%	18.4%	0.0%	-19.4%	8.6%	-8	-9.0K	-45	82.14	0	0	4	4
2026-01-28	$39.30	$0.00	109.8%	31.5%	103.4%	19.7%	0.0%	0.5%	3.4%	-8	-8.6K	-45	111.60	0	0	4	4
2026-01-29	$45.11	$0.00	118.6%	34.0%	115.0%	21.5%	0.0%	6.4%	-2.0%	-13	-11.5K	-45	93.37	0	0	4	4
2026-01-30	$48.72	$0.00	118.8%	34.1%	118.1%	21.6%	0.0%	-9.3%	4.9%	-19	-13.1K	-45	95.50	0	0	4	4