NCNO Options History — February 2026

In February 2026, NCNO traded between $14.60 and $20.95. ATM implied volatility averaged 55.8%, placing in the 54.2% IV rank vs the trailing year. The 30-day expected move averaged 15.6%. IV traded below realized volatility by 11.2% (HV 20d: 67.1%). Max pain ranged from $17.50 to $25.00. Net GEX was positive for 19 of 19 trading days. Term structure was in contango for 17 of 19 days. Put/call ratio averaged 0.19.

Notable Days

2026-02-19: Highest Volume — 1,660 contracts
2026-02-11: Largest IV drop — 23.9% change
2026-02-10: Highest IV Rank — 69.9%
2026-02-26: Largest Expected Move — 17.7%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$17.04	$14.60	$20.95	$20.95	$16.08
Max Pain	$19.87	$17.50	$25.00	$25.00	$17.50
ATM IV	55.8%	43.9%	64.8%	43.9%	60.9%
Expected Move	15.6%	12.6%	17.7%	12.6%	17.4%
HV 20d	67.1%	44.0%	79.5%	44.0%	76.5%
HV 60d	50.8%	39.0%	57.5%	39.0%	57.5%
IV Rank	54.2%	33.4%	69.9%	33.4%	63.0%
IV Percentile	83.4%	67.9%	96.0%	67.9%	88.1%
Term Structure	4.3%	-3.4%	8.8%	-2.4%	8.7%
VWIV	53.6%	38.2%	68.0%	38.2%	64.2%
Skew 25d	6.3%	0.6%	14.6%	2.8%	8.6%
Skew 10d	16.6%	-2.8%	39.7%	19.3%	21.4%
Call IV 25d	53.6%	43.7%	64.3%	43.7%	60.5%
Put IV 25d	60.0%	46.4%	71.1%	46.4%	69.0%
Bid-Ask Spread %	82.74	64.76	91.18	64.76	79.55
Gamma HHI	0.34	0.20	0.67	0.24	0.67
Net GEX	39.2K	10.0K	119.0K	79.6K	119.0K
Net DEX	-64.4K	-1.6M	1.3M	485.3K	-1.6M
Net VEX	-6.4K	-10.2K	-3.6K	-9.7K	-10.2K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.19	0.00	1.09	0.44	0.00
Total Volume	394.842	10	1,660	88	853
Total OI	12,220.158	8,451	14,976	13,079	10,025

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 Wall	Put Wall	Call Vol	Put Vol	Call OI	Put OI
2026-02-02	$20.95	$25.00	43.9%	12.6%	44.0%	33.4%	38.2%	2.8%	-2.4%	79.6K	485.3K	-9.7K	0.44	64.76	N/A	N/A	61	27	12,005	1,074
2026-02-03	$18.52	$25.00	53.6%	15.4%	59.9%	50.3%	43.5%	8.3%	-3.4%	21.8K	1.3M	-5.7K	0.16	80.16	N/A	N/A	267	43	12,045	1,100
2026-02-04	$18.91	$22.50	50.8%	14.6%	61.0%	45.3%	0.0%	5.1%	0.7%	30.3K	345.7K	-6.2K	0.13	88.88	N/A	N/A	208	27	12,266	674
2026-02-05	$17.80	$20.00	59.1%	14.9%	61.4%	60.0%	50.8%	4.5%	4.6%	21.1K	490.0K	-5.6K	0.32	80.53	N/A	N/A	78	25	12,413	692
2026-02-06	$18.10	$20.00	55.6%	14.6%	62.5%	53.8%	50.5%	3.7%	5.1%	18.6K	411.5K	-5.4K	0.18	78.38	N/A	N/A	28	5	12,489	634
2026-02-09	$18.27	$20.00	55.5%	14.9%	61.9%	53.7%	53.8%	4.8%	4.5%	19.2K	355.0K	-5.7K	0.11	76.12	N/A	N/A	9	1	12,494	638
2026-02-10	$18.69	$20.00	64.8%	14.5%	63.2%	69.9%	48.8%	4.9%	3.6%	26.3K	217.6K	-6.6K	0.01	77.43	N/A	N/A	652	8	12,501	639
2026-02-11	$17.64	$20.00	49.3%	14.1%	65.0%	42.8%	49.4%	7.4%	8.8%	16.9K	449.8K	-5.2K	0.10	77.52	N/A	N/A	73	7	12,743	644
2026-02-12	$16.00	$20.00	53.8%	15.4%	70.9%	50.7%	53.2%	3.6%	6.1%	10.0K	616.5K	-3.6K	1.09	89.13	N/A	N/A	23	25	12,706	641
2026-02-13	$16.14	$20.00	54.8%	15.7%	71.4%	52.3%	54.3%	7.8%	2.6%	13.0K	153.8K	-4.2K	0.04	83.24	N/A	N/A	393	17	12,720	426
2026-02-17	$16.16	$20.00	55.7%	16.0%	71.7%	54.0%	50.2%	8.2%	0.9%	13.2K	177.2K	-4.1K	0.05	86.77	N/A	N/A	464	22	12,794	444
2026-02-18	$16.38	$20.00	49.7%	14.3%	71.7%	43.6%	51.4%	3.3%	6.4%	20.8K	-212.9K	-6.0K	0.16	85.37	N/A	N/A	215	35	13,189	450
2026-02-19	$16.05	$20.00	55.6%	15.9%	71.7%	53.8%	53.5%	6.8%	3.4%	20.3K	-167.6K	-5.9K	0.01	86.71	N/A	N/A	1,640	20	13,199	470
2026-02-20	$15.75	$17.50	54.9%	15.7%	66.7%	52.6%	52.8%	13.7%	6.0%	62.3K	-567.7K	-6.7K	0.40	86.52	N/A	N/A	30	12	14,495	481
2026-02-23	$14.60	$17.50	60.6%	17.4%	68.1%	62.5%	68.0%	5.3%	5.6%	39.5K	-301.6K	-5.8K	0.08	85.86	N/A	N/A	414	35	8,057	394
2026-02-24	$15.34	$17.50	59.7%	17.1%	72.5%	60.9%	58.6%	6.6%	7.0%	57.9K	-697.7K	-7.1K	0.29	83.33	N/A	N/A	383	113	8,216	394
2026-02-25	$15.74	$17.50	61.3%	17.6%	74.4%	63.7%	62.1%	14.6%	5.5%	68.2K	-980.4K	-8.2K	0.00	91.18	N/A	N/A	266	1	8,523	501
2026-02-26	$16.68	$17.50	61.6%	17.7%	79.5%	64.3%	61.8%	0.6%	8.6%	86.7K	-1.6M	-10.2K	0.00	90.65	N/A	N/A	1,022	0	8,505	502
2026-02-27	$16.08	$17.50	60.9%	17.4%	76.5%	63.0%	64.2%	8.6%	8.7%	119.0K	-1.6M	-10.2K	0.00	79.55	N/A	N/A	849	4	9,523	502