MARA Options History — January 2026 In January 2026, MARA traded between $9.43 and $11.25. ATM implied volatility averaged 84.8%, placing in the 44.9% IV rank vs the trailing year. The 30-day expected move averaged 24.1%. IV traded above realized volatility by 19.6% (HV 20d: 65.2%). Max pain ranged from $10.00 to $13.00. Net GEX was positive for 18 of 20 trading days. Term structure was in contango for 9 of 20 days. Put/call ratio averaged 0.36.
Notable Days 2026-01-30 : Highest Volume — 435,498 contracts2026-01-14 : Largest IV spike — 5.0% change2026-01-30 : Highest IV Rank — 52.3%2026-01-21 : Largest Expected Move — 25.5%Monthly Statistics Metric Avg Min Max Open Close Price $10.38 $9.43 $11.25 $9.89 $9.43 Max Pain $10.97 $10.00 $13.00 $13.00 $11.00 ATM IV 84.8% 79.9% 89.2% 79.9% 89.2% Expected Move 24.1% 22.3% 25.5% 22.3% 24.2% HV 20d 65.2% 59.0% 72.5% 59.8% 71.7% HV 60d 73.4% 69.1% 80.5% 78.8% 72.5% IV Rank 44.9% 36.5% 52.3% 36.5% 52.3% IV Percentile 54.9% 38.9% 72.6% 38.9% 72.6% Term Structure 0.3% -3.4% 3.3% 1.9% -1.2% VWIV 87.1% 83.3% 93.2% 84.6% 85.7% Skew 25d 0.3% -2.2% 3.5% 2.9% -2.2% Skew 10d 2.7% -16.5% 28.5% 6.7% -11.4% Call IV 25d 87.6% 80.7% 93.4% 80.7% 93.0% Put IV 25d 87.8% 82.2% 92.7% 83.5% 90.8% Bid-Ask Spread % 13.11 8.86 19.08 10.07 14.46 Gamma HHI 0.12 0.06 0.32 0.32 0.20 Net GEX 4.1M -1.9M 9.3M 9.3M -1.9M Net DEX -5.5M -135.5M 82.8M 72.2M 82.8M Net VEX -3.2M -3.5M -3.0M -3.1M -3.0M Div Yield 0.0% 0.0% 0.0% 0.0% 0.0% P/C Ratio 0.36 0.17 0.74 0.32 0.28 Total Volume 226,049.15 91,200 435,498 320,238 435,498 Total OI 2,248,425.25 1,861,620 2,565,357 2,417,474 2,103,731
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 Wall Put Wall Call Vol Put Vol Call OI Put OI 2026-01-02 $9.89 $13.00 79.9% 22.3% 59.8% 36.5% 84.6% 2.9% 1.9% 9.3M 72.2M -3.1M 0.32 10.07 N/A N/A 243,106 77,132 1,410,928 1,006,546 2026-01-05 $10.61 $10.00 82.0% 23.3% 66.3% 40.2% 85.6% 2.5% 2.3% 5.6M -36.4M -3.2M 0.53 8.86 N/A N/A 152,585 81,470 1,374,416 993,223 2026-01-06 $10.39 $11.00 82.5% 24.0% 63.0% 41.1% 84.4% 2.1% 2.1% 6.1M -6.7M -3.2M 0.42 12.90 N/A N/A 75,635 32,132 1,408,273 1,013,899 2026-01-07 $10.04 $11.00 83.3% 23.7% 63.4% 42.2% 84.4% -2.2% -1.2% 6.6M 38.4M -3.1M 0.24 11.12 N/A N/A 137,937 33,702 1,427,076 1,028,765 2026-01-08 $10.39 $11.00 81.3% 23.6% 63.9% 39.0% 83.3% 0.5% 0.5% 8.5M -5.5M -3.2M 0.36 11.49 N/A N/A 211,206 75,613 1,441,300 1,040,175 2026-01-09 $10.18 $11.00 81.6% 23.5% 64.1% 39.5% 85.5% -1.6% 0.6% 2.2M 38.7M -3.2M 0.54 14.40 N/A N/A 93,794 51,036 1,488,753 1,067,896 2026-01-12 $10.64 $11.00 81.5% 22.9% 66.1% 39.3% 83.6% -1.6% -3.4% 4.3M 33.7M -3.2M 0.39 12.08 N/A N/A 120,765 47,253 1,370,340 1,022,012 2026-01-13 $10.84 $11.00 82.2% 23.5% 66.4% 40.5% 84.3% 1.3% -0.6% 6.0M -17.7M -3.3M 0.18 12.57 N/A N/A 192,305 35,191 1,404,539 1,029,201 2026-01-14 $11.02 $10.00 86.4% 24.8% 61.0% 47.5% 89.8% 3.5% -0.6% 7.7M -91.7M -3.4M 0.20 10.77 N/A N/A 209,434 41,682 1,444,819 1,040,164 2026-01-15 $10.75 $11.00 86.3% 24.4% 61.6% 47.4% 86.9% 1.6% -1.3% 6.9M -38.1M -3.3M 0.74 12.22 N/A N/A 110,887 81,560 1,485,595 1,057,157 2026-01-16 $11.25 $11.00 84.3% 23.8% 59.0% 44.0% 85.9% 1.4% -1.5% 3.2M -135.5M -3.5M 0.34 12.90 N/A N/A 267,443 90,717 1,492,448 1,072,909 2026-01-20 $10.41 $11.00 87.4% 25.0% 64.8% 49.2% 92.1% 0.4% -0.0% 1.9M -6.7M -3.3M 0.47 12.77 N/A N/A 138,605 64,486 1,002,727 858,893 2026-01-21 $10.55 $11.00 88.8% 25.5% 64.1% 51.8% 91.3% 0.5% 3.3% 2.5M -20.8M -3.3M 0.37 19.08 N/A N/A 117,040 43,108 1,040,692 879,873 2026-01-22 $10.20 $11.00 85.7% 24.4% 65.4% 46.3% 88.5% -0.1% 2.7% -222.0K 24.5M -3.2M 0.26 16.04 N/A N/A 223,825 58,115 1,075,930 894,034 2026-01-23 $10.48 $11.00 84.7% 24.2% 65.8% 44.7% 86.8% 0.6% 2.6% 1.3M -29.3M -3.3M 0.35 12.60 N/A N/A 213,747 75,792 1,104,474 914,896 2026-01-26 $10.00 $11.00 87.2% 24.5% 68.1% 48.9% 89.5% -2.0% 1.9% 2.2M 12.6M -3.2M 0.45 11.33 N/A N/A 91,502 41,224 1,042,620 866,103 2026-01-27 $10.43 $10.50 86.3% 24.6% 68.8% 47.5% 89.5% -0.8% -0.0% 4.4M -35.1M -3.2M 0.17 16.04 N/A N/A 156,993 26,614 1,080,328 887,473 2026-01-28 $10.34 $11.00 87.0% 24.4% 68.4% 48.6% 88.0% -1.8% -0.8% 5.7M -43.8M -3.2M 0.39 16.91 N/A N/A 65,598 25,602 1,144,566 893,086 2026-01-29 $9.70 $11.00 89.1% 25.0% 72.5% 52.2% 93.2% 0.3% -0.3% 337.5K 54.8M -3.0M 0.24 13.64 N/A N/A 227,096 53,553 1,162,407 896,238 2026-01-30 $9.43 $11.00 89.2% 24.2% 71.7% 52.3% 85.7% -2.2% -1.2% -1.9M 82.8M -3.0M 0.28 14.46 N/A N/A 340,977 94,521 1,198,538 905,193
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