NIO Options History — February 2026

In February 2026, NIO traded between $4.44 and $5.30. ATM implied volatility averaged 65.4%, placing in the 32.0% IV rank vs the trailing year. The 30-day expected move averaged 18.4%. IV traded above realized volatility by 14.9% (HV 20d: 50.5%). Max pain ranged from $4.00 to $5.00. Net GEX was positive for 19 of 19 trading days. Term structure was in contango for 14 of 19 days. Put/call ratio averaged 0.28.

Notable Days

2026-02-06: Highest Volume — 262,659 contracts
2026-02-06: Largest IV spike — 7.2% change
2026-02-09: Highest IV Rank — 43.4%
2026-02-09: Largest Expected Move — 20.2%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$4.93	$4.44	$5.30	$4.51	$4.88
Max Pain	$4.16	$4.00	$5.00	$5.00	$4.00
ATM IV	65.4%	61.4%	71.4%	61.4%	62.1%
Expected Move	18.4%	15.5%	20.2%	16.0%	18.6%
HV 20d	50.5%	42.7%	57.2%	46.9%	52.9%
HV 60d	49.2%	46.2%	51.3%	46.5%	48.3%
IV Rank	32.0%	24.4%	43.4%	24.4%	25.8%
IV Percentile	35.3%	27.4%	57.1%	27.4%	28.6%
Term Structure	0.8%	-3.8%	5.1%	-0.6%	0.8%
VWIV	66.2%	49.9%	77.0%	49.9%	66.2%
Skew 25d	-5.5%	-9.6%	-1.7%	-7.8%	-6.0%
Skew 10d	-11.3%	-26.7%	-2.8%	-10.6%	-13.8%
Call IV 25d	70.7%	66.5%	78.4%	69.3%	66.5%
Put IV 25d	65.2%	60.5%	69.4%	61.5%	60.5%
Bid-Ask Spread %	15.16	9.26	34.28	19.20	14.04
Gamma HHI	0.13	0.09	0.17	0.11	0.09
Net GEX	3.3M	1.8M	4.5M	2.0M	1.8M
Net DEX	-194.4M	-264.8M	-86.5M	-98.8M	-168.0M
Net VEX	-2.9M	-3.1M	-2.8M	-2.8M	-2.8M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.28	0.12	0.69	0.12	0.31
Total Volume	110,192.474	36,899	262,659	212,079	98,091
Total OI	3,269,111.421	2,972,381	3,415,806	3,219,869	3,125,498

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 Vol	Put Vol	Call OI	Put OI
2026-02-02	$4.51	$5.00	61.4%	16.0%	46.9%	24.4%	49.9%	-7.8%	-0.6%	2.0M	-98.8M	-2.8M	0.12	19.20	190,048	22,031	1,882,121	1,337,748
2026-02-03	$4.51	$5.00	61.7%	15.5%	42.9%	24.9%	55.2%	-7.0%	0.7%	2.2M	-104.9M	-2.8M	0.21	12.57	44,090	9,264	1,930,203	1,346,714
2026-02-04	$4.44	$5.00	65.0%	16.6%	42.7%	31.2%	57.7%	-6.3%	-2.5%	2.0M	-86.5M	-2.8M	0.25	13.76	51,313	12,963	1,943,448	1,348,150
2026-02-05	$4.71	$4.00	65.3%	20.0%	48.2%	31.8%	73.0%	-9.6%	5.1%	3.2M	-161.9M	-2.9M	0.27	15.15	159,041	42,170	1,956,723	1,352,738
2026-02-06	$5.08	$4.00	70.0%	19.5%	55.0%	40.7%	72.8%	-3.5%	-3.8%	3.7M	-258.1M	-3.1M	0.16	10.13	227,284	35,375	1,984,976	1,370,534
2026-02-09	$4.86	$4.00	71.4%	20.2%	57.2%	43.4%	77.0%	-9.6%	0.3%	3.2M	-187.4M	-3.0M	0.17	13.53	109,003	18,431	1,942,558	1,354,431
2026-02-10	$4.99	$4.00	70.3%	19.8%	54.9%	41.3%	71.2%	-7.4%	-3.6%	4.1M	-218.3M	-3.0M	0.30	9.26	61,845	18,341	1,996,759	1,363,178
2026-02-11	$5.04	$4.00	67.7%	19.4%	52.6%	36.4%	68.3%	-6.8%	-0.5%	4.5M	-227.2M	-3.0M	0.26	12.87	46,708	12,067	2,024,208	1,374,199
2026-02-12	$4.97	$4.00	65.8%	19.2%	51.1%	32.8%	71.9%	-3.7%	1.7%	4.3M	-212.8M	-3.0M	0.28	12.28	62,209	17,559	2,032,774	1,378,877
2026-02-13	$4.92	$4.00	65.9%	19.1%	51.1%	33.0%	72.3%	-5.8%	1.1%	3.5M	-190.5M	-3.0M	0.32	12.36	59,486	18,738	2,036,449	1,379,357
2026-02-17	$4.95	$4.00	66.6%	19.1%	50.9%	34.2%	67.2%	-2.0%	1.5%	3.8M	-198.3M	-2.8M	0.47	10.27	62,964	29,588	1,980,140	1,363,216
2026-02-18	$4.92	$4.00	62.5%	17.9%	49.6%	26.5%	65.2%	-3.2%	2.7%	3.5M	-177.8M	-2.8M	0.17	10.98	31,576	5,323	2,006,452	1,377,753
2026-02-19	$4.88	$4.00	63.2%	18.1%	49.2%	27.8%	64.3%	-4.8%	1.2%	3.5M	-167.7M	-2.8M	0.18	12.01	72,826	12,933	2,012,765	1,368,515
2026-02-20	$5.08	$4.00	63.8%	18.2%	50.5%	29.0%	64.4%	-1.7%	2.0%	3.1M	-256.7M	-2.9M	0.43	34.28	103,249	44,046	2,027,369	1,367,803
2026-02-23	$5.30	$4.00	65.6%	18.7%	50.7%	32.4%	66.1%	-2.9%	1.2%	4.3M	-264.8M	-3.0M	0.26	14.19	135,983	34,887	1,708,104	1,264,277
2026-02-24	$5.29	$4.00	67.9%	18.4%	50.3%	36.7%	64.5%	-6.4%	1.4%	4.1M	-256.2M	-2.9M	0.17	18.18	65,638	10,968	1,747,271	1,285,911
2026-02-25	$5.22	$4.00	63.6%	18.2%	50.8%	28.5%	64.6%	-4.9%	2.8%	3.9M	-247.7M	-2.9M	0.36	17.90	48,394	17,479	1,767,496	1,290,681
2026-02-26	$5.06	$4.00	62.5%	18.1%	52.4%	26.5%	65.3%	-5.5%	3.2%	2.8M	-210.8M	-2.9M	0.69	24.98	60,118	41,628	1,785,024	1,298,697
2026-02-27	$4.88	$4.00	62.1%	18.6%	52.9%	25.8%	66.2%	-6.0%	0.8%	1.8M	-168.0M	-2.8M	0.31	14.04	74,648	23,443	1,806,623	1,318,875