FFAI Options History — February 2026

In February 2026, FFAI traded between $0.45 and $1.06. ATM implied volatility averaged 211.2%, placing in the 56.7% IV rank vs the trailing year. The 30-day expected move averaged 58.4%. IV traded above realized volatility by 111.2% (HV 20d: 99.9%). Max pain ranged from $0.50 to $2.50. Net GEX was positive for 16 of 19 trading days. Term structure was in contango for 10 of 19 days. Put/call ratio averaged 0.43.

Notable Days

  • 2026-02-06: Highest Volume — 23,623 contracts
  • 2026-02-09: Largest IV spike — 99.7% change
  • 2026-02-11: Highest IV Rank — 90.1%
  • 2026-02-13: Largest Expected Move — 97.9%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$0.67$0.45$1.06$1.06$0.49
Max Pain$1.95$0.50$2.50$1.50$0.50
ATM IV211.2%113.4%331.6%113.9%231.8%
Expected Move58.4%15.1%97.9%29.6%61.3%
HV 20d99.9%46.3%138.0%66.2%138.0%
HV 60d90.0%73.3%101.3%75.3%101.2%
IV Rank56.7%29.6%90.1%29.7%62.4%
IV Percentile78.5%12.1%99.5%12.3%94.8%
Term Structure-41.8%-346.2%74.7%74.7%-19.0%
VWIV175.6%104.0%290.3%104.0%290.3%
Skew 25d3.8%-72.6%73.4%-4.7%16.1%
Skew 10d-14.2%-79.8%73.4%18.3%-18.0%
Call IV 25d157.5%114.1%296.5%119.2%123.6%
Put IV 25d161.3%114.5%224.0%114.5%139.7%
Bid-Ask Spread %69.0823.54117.6262.28108.12
Gamma HHI0.320.120.750.550.31
Net GEX1.3K-17.3K11.1K-13.9K4.4K
Net DEX-418.6K-881.0K387.7K-653.2K-361.0K
Net VEX-7.4K-11.8K-4.9K-11.8K-5.6K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.430.024.220.160.09
Total Volume7,744.4742,00023,6234,2404,040
Total OI83,948.89561,83299,20482,03378,737

Daily Data (19 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2026-02-02$1.06$1.50113.9%29.6%66.2%29.7%104.0%-4.7%74.7%-13.9K-653.2K-11.8K0.1662.283,66757360,24421,789
2026-02-03$1.06$1.00124.3%34.5%50.5%32.6%120.3%-21.4%24.0%-17.3K-625.4K-10.5K0.4073.111,42857263,00222,345
2026-02-04$1.04$1.50166.3%35.8%46.3%44.3%124.7%-19.4%40.9%-14.6K-738.9K-11.4K0.3081.052,11763963,84822,635
2026-02-05$0.82$2.50195.8%59.5%93.2%52.4%0.0%-27.8%-16.5%2.9K387.7K-8.6K0.1223.5420,6562,40364,33122,848
2026-02-06$0.77$2.50113.4%69.9%89.8%29.6%0.0%47.6%16.8%2.6K-255.2K-8.3K0.0227.9023,15147276,68322,521
2026-02-09$0.74$2.50226.5%60.8%90.1%60.9%0.0%-72.6%-195.7%3.1K-323.5K-9.0K0.6927.285,1963,56963,83515,704
2026-02-10$0.72$2.50274.4%80.2%89.8%74.2%0.0%73.4%-135.4%3.7K-305.3K-8.3K0.3526.952,80697467,06814,697
2026-02-11$0.64$2.50331.6%68.3%95.6%90.1%0.0%-43.9%-346.2%2.1K-252.8K-6.8K0.0871.8512,39495168,11215,248
2026-02-12$0.61$2.50287.9%45.5%95.9%77.9%0.0%-20.4%-261.9%1.9K-727.4K-6.7K0.6467.781,25079678,05315,452
2026-02-13$0.63$2.50253.0%97.9%98.2%68.3%0.0%-8.4%8.4%3.3K-702.9K-7.3K0.2125.872,13045578,12115,385
2026-02-17$0.54$2.50187.8%53.2%108.2%50.2%0.0%11.7%21.6%2.5K-356.5K-6.3K0.2830.515,5831,54168,17213,204
2026-02-18$0.51$2.50257.1%73.7%108.4%69.4%0.0%33.6%-26.0%2.9K-369.2K-5.9K0.0870.356,38051772,78812,676
2026-02-19$0.49$2.50220.8%62.0%106.5%59.4%0.0%-8.0%12.0%11.1K-321.7K-5.5K4.2268.571,2615,32377,98812,804
2026-02-20$0.45$2.50218.4%58.5%106.8%58.7%0.0%35.3%37.0%1.3K42.3K-4.9K0.1591.244,51467478,71717,073
2026-02-23$0.51$2.50188.1%15.1%122.1%50.3%0.0%39.2%30.7%4.2K-427.0K-5.6K0.07115.5517,2791,22050,59711,235
2026-02-24$0.50$1.00201.9%49.1%119.2%54.1%0.0%39.4%-16.5%8.3K-507.1K-6.3K0.16105.324,45771562,44611,878
2026-02-25$0.58$1.00185.3%63.5%136.2%49.5%238.8%22.5%2.8%5.9K-881.0K-6.7K0.05117.614,24620764,58811,908
2026-02-26$0.52$0.50234.0%91.8%137.9%63.0%290.3%-19.9%-45.9%10.1K-575.5K-6.0K0.05117.622,84814166,34411,953
2026-02-27$0.49$0.50231.8%61.3%138.0%62.4%0.0%16.1%-19.0%4.4K-361.0K-5.6K0.09108.123,69334766,81211,925