FEX Options History — February 2026

In February 2026, FEX traded between $123.47 and $127.65. ATM implied volatility averaged 20.3%, placing in the 8.8% IV rank vs the trailing year. The 30-day expected move averaged 5.2%. IV traded above realized volatility by 8.4% (HV 20d: 11.9%). Net GEX was positive for 0 of 19 trading days. Term structure was in contango for 7 of 19 days.

Notable Days

  • 2026-02-13: Highest Volume — 3 contracts
  • 2026-02-11: Largest IV drop — 48.3% change
  • 2026-02-10: Highest IV Rank — 21.8%
  • 2026-02-04: Largest Expected Move — 6.6%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$126.37$123.47$127.65$123.70$127.42
ATM IV20.3%14.8%28.6%21.8%19.7%
Expected Move5.2%4.0%6.6%6.3%5.6%
HV 20d11.9%10.1%13.4%11.4%11.7%
HV 60d12.4%11.3%13.5%12.8%11.3%
IV Rank8.8%0.6%21.8%11.4%7.5%
IV Percentile34.0%0.8%79.0%50.4%30.2%
Term Structure-2.2%-9.8%5.7%-8.7%-6.2%
Skew 25d5.5%1.3%21.1%21.1%8.1%
Skew 10d5.9%0.3%28.2%28.2%4.1%
Call IV 25d18.8%9.4%27.3%9.4%18.0%
Put IV 25d24.3%20.8%30.5%30.5%26.1%
Bid-Ask Spread %162.08154.39186.51186.51154.84
Gamma HHI1.001.001.001.001.00
Net GEX-578-1.3K00-1.2K
Net DEX7.6K017.1K015.5K
Net VEX-63-13600-130
Div Yield0.0%0.0%0.0%0.0%0.0%
Total Volume0.2110300
Total OI1.9470404

Daily Data (19 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2026-02-02$123.70$0.0021.8%6.3%11.4%11.4%0.0%21.1%-8.7%0000.00186.51N/AN/A0000
2026-02-03$124.08$0.0022.4%6.4%10.8%12.3%0.0%5.1%-8.9%0000.00183.65N/AN/A0000
2026-02-04$124.59$0.0023.0%6.6%10.3%13.1%0.0%1.3%-9.8%0000.00181.08N/AN/A0000
2026-02-05$123.47$0.0024.0%5.5%10.1%14.7%0.0%3.7%-4.2%0000.00164.19N/AN/A0000
2026-02-06$126.40$0.0024.3%4.0%12.9%15.1%0.0%6.7%4.3%0000.00155.80N/AN/A0000
2026-02-09$126.82$0.0027.3%4.1%12.8%19.7%0.0%4.1%5.5%0000.00157.22N/AN/A0000
2026-02-10$127.00$0.0028.6%4.2%12.7%21.8%0.0%4.1%5.7%0000.00159.47N/AN/A0000
2026-02-11$127.41$0.0014.8%4.2%12.7%0.6%0.0%3.1%4.2%0000.00157.69N/AN/A0000
2026-02-12$126.19$0.0019.3%5.5%13.4%7.4%0.0%1.7%-3.9%0000.00156.99N/AN/A0100
2026-02-13$126.73$0.0015.3%4.4%13.3%1.3%0.0%3.4%4.9%-2994.3K-350.00160.89N/AN/A0301
2026-02-17$126.86$0.0016.2%4.7%13.2%2.8%0.0%3.8%4.2%-95316.5K-1360.00158.75N/AN/A0004
2026-02-18$127.38$0.0016.4%4.7%12.1%2.6%0.0%3.2%1.9%-1.2K14.8K-1300.00159.60N/AN/A0004
2026-02-19$127.11$0.0016.8%4.8%11.1%3.1%0.0%5.5%-4.5%-1.1K15.0K-1300.00157.91N/AN/A0004
2026-02-20$127.63$0.0017.0%4.9%11.2%3.4%0.0%5.6%-4.9%-1.2K17.1K-1350.00154.39N/AN/A0004
2026-02-23$126.29$0.0022.0%6.3%11.6%11.1%0.0%5.4%-4.1%-1.3K16.6K-1310.00157.84N/AN/A0004
2026-02-24$127.16$0.0018.4%5.3%11.6%5.6%0.0%6.0%-5.5%-1.3K13.7K-1210.00158.04N/AN/A0004
2026-02-25$127.20$0.0018.8%5.4%11.6%6.2%0.0%7.2%-5.8%-1.3K14.1K-1220.00157.91N/AN/A0004
2026-02-26$127.65$0.0019.1%5.5%11.6%6.7%0.0%5.1%-6.4%-1.2K16.4K-1300.00156.82N/AN/A0004
2026-02-27$127.42$0.0019.7%5.6%11.7%7.5%0.0%8.1%-6.2%-1.2K15.5K-1300.00154.84N/AN/A0004