OGE Options History — January 2026

In January 2026, OGE traded between $42.07 and $43.78. ATM implied volatility averaged 28.1%, placing in the 25.7% IV rank vs the trailing year. The 30-day expected move averaged 5.8%. IV traded above realized volatility by 13.7% (HV 20d: 14.3%). Max pain ranged from $35.00 to $45.00. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 16 of 20 days. Put/call ratio averaged 0.26.

Notable Days

2026-01-15: Highest Volume — 42 contracts
2026-01-20: Largest IV spike — 114.4% change
2026-01-13: Highest IV Rank — 66.5%
2026-01-02: Largest Expected Move — 10.3%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$43.09	$42.07	$43.78	$42.81	$43.61
Max Pain	$39.50	$35.00	$45.00	$35.00	$35.00
ATM IV	28.1%	11.8%	58.5%	35.9%	19.5%
Expected Move	5.8%	3.4%	10.3%	10.3%	5.6%
HV 20d	14.3%	11.4%	16.5%	11.4%	16.2%
HV 60d	14.2%	13.7%	14.7%	13.7%	13.7%
IV Rank	25.7%	2.0%	66.5%	35.4%	15.1%
IV Percentile	57.9%	1.6%	98.4%	88.1%	40.1%
Term Structure	2.8%	-15.5%	14.3%	-15.5%	14.3%
VWIV	38.0%	9.3%	78.1%	78.1%	26.6%
Skew 25d	2.6%	-9.8%	9.9%	-5.9%	9.9%
Skew 10d	2.9%	-14.8%	19.6%	19.6%	6.4%
Call IV 25d	16.4%	9.4%	29.8%	29.8%	12.5%
Put IV 25d	18.9%	14.7%	24.6%	23.9%	22.3%
Bid-Ask Spread %	116.44	97.14	126.20	114.91	122.34
Gamma HHI	0.42	0.30	0.56	0.37	0.38
Net GEX	24.9K	13.8K	35.2K	16.6K	32.3K
Net DEX	-366.2K	-672.0K	-118.2K	-184.5K	-589.7K
Net VEX	-2.4K	-2.9K	-1.9K	-2.0K	-2.7K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.26	0.00	1.50	0.00	1.00
Total Volume	9.55	0	42	3	0
Total OI	1,183.6	1,127	1,246	1,128	1,246

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 Vol	Put Vol	Call OI	Put OI
2026-01-02	$42.81	$35.00	35.9%	10.3%	11.4%	35.4%	78.1%	-5.9%	-15.5%	16.6K	-184.5K	-2.0K	0.00	114.91	3	0	973	155
2026-01-05	$42.10	$45.00	41.4%	4.7%	12.0%	42.9%	0.0%	-0.4%	2.1%	13.8K	-118.2K	-1.9K	0.00	119.61	0	0	972	155
2026-01-06	$42.63	$45.00	35.8%	5.2%	13.1%	35.2%	0.0%	2.5%	0.3%	15.4K	-158.1K	-1.9K	0.00	117.72	2	0	972	155
2026-01-07	$42.07	$45.00	30.9%	6.2%	13.1%	28.4%	0.0%	-1.1%	2.0%	16.0K	-192.2K	-2.1K	1.50	126.00	2	3	972	155
2026-01-08	$42.55	$45.00	37.9%	5.8%	13.8%	38.0%	0.0%	3.3%	3.5%	14.0K	-138.5K	-1.9K	0.00	121.97	1	0	972	158
2026-01-09	$42.81	$45.00	51.5%	7.8%	13.9%	56.8%	0.0%	-9.8%	-13.2%	16.0K	-239.9K	-1.9K	0.00	126.20	16	0	973	158
2026-01-12	$42.50	$45.00	40.5%	6.1%	14.0%	41.7%	0.0%	3.1%	1.6%	18.5K	-219.9K	-2.6K	0.50	110.24	4	2	989	158
2026-01-13	$42.89	$45.00	58.5%	4.6%	14.2%	66.5%	0.0%	-3.7%	2.3%	19.0K	-229.3K	-2.1K	0.09	113.79	22	2	993	160
2026-01-14	$43.44	$45.00	19.8%	5.7%	14.7%	13.1%	0.0%	-0.0%	4.9%	24.6K	-365.6K	-2.3K	0.00	121.93	17	0	1,011	160
2026-01-15	$43.66	$45.00	11.8%	3.4%	14.8%	2.0%	9.3%	6.8%	3.7%	28.6K	-451.7K	-2.3K	0.02	111.42	41	1	1,026	160
2026-01-16	$43.55	$35.00	13.6%	3.9%	14.8%	5.4%	0.0%	-0.9%	0.1%	30.4K	-421.0K	-2.5K	0.30	103.76	10	3	1,047	161
2026-01-20	$43.74	$35.00	29.1%	8.3%	14.8%	30.8%	0.0%	8.3%	5.3%	33.8K	-523.6K	-2.9K	0.33	97.14	3	1	1,047	161
2026-01-21	$43.66	$35.00	20.5%	5.9%	13.3%	16.7%	0.0%	9.6%	12.7%	31.9K	-479.3K	-2.6K	0.00	118.31	0	4	1,048	162
2026-01-22	$43.36	$35.00	23.5%	6.7%	13.1%	21.6%	0.0%	5.6%	-0.4%	30.0K	-423.2K	-2.5K	0.00	116.56	0	0	1,048	165
2026-01-23	$42.55	$35.00	17.2%	4.9%	14.8%	11.3%	0.0%	-3.7%	-3.1%	26.5K	-313.6K	-2.4K	0.15	117.69	13	2	1,048	165
2026-01-26	$43.17	$35.00	18.2%	5.2%	15.7%	13.0%	26.6%	3.5%	1.9%	28.2K	-417.6K	-2.8K	0.00	110.74	34	0	1,045	166
2026-01-27	$43.78	$35.00	19.4%	5.6%	16.4%	14.9%	0.0%	8.3%	9.6%	33.6K	-573.2K	-2.5K	0.00	118.29	1	0	1,079	166
2026-01-28	$43.51	$35.00	18.2%	5.2%	16.5%	13.0%	0.0%	8.5%	14.3%	33.7K	-612.6K	-2.7K	1.00	122.50	2	2	1,079	166
2026-01-29	$43.47	$35.00	18.2%	5.2%	16.5%	13.0%	0.0%	7.3%	9.1%	35.2K	-672.0K	-2.6K	0.00	117.70	0	0	1,079	167
2026-01-30	$43.61	$35.00	19.5%	5.6%	16.2%	15.1%	0.0%	9.9%	14.3%	32.3K	-589.7K	-2.7K	0.00	122.34	0	0	1,079	167