OPEN Options History — February 2026

In February 2026, OPEN traded between $4.37 and $5.45. ATM implied volatility averaged 96.7%, placing in the 14.5% IV rank vs the trailing year. The 30-day expected move averaged 27.8%. IV traded above realized volatility by 24.4% (HV 20d: 72.2%). Max pain ranged from $5.00 to $6.00. Net GEX was positive for 19 of 19 trading days. Term structure was in contango for 5 of 19 days. Put/call ratio averaged 0.30.

Notable Days

  • 2026-02-20: Highest Volume — 476,339 contracts
  • 2026-02-20: Largest IV drop — 24.7% change
  • 2026-02-19: Highest IV Rank — 20.0%
  • 2026-02-19: Largest Expected Move — 32.2%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$4.85$4.37$5.45$4.84$5.45
Max Pain$5.21$5.00$6.00$6.00$5.00
ATM IV96.7%82.4%111.2%96.2%84.3%
Expected Move27.8%23.6%32.2%28.8%24.3%
HV 20d72.2%58.1%96.6%94.8%78.6%
HV 60d87.9%74.6%103.5%103.5%77.7%
IV Rank14.5%9.1%20.0%14.3%9.8%
IV Percentile22.0%5.2%40.5%19.4%7.5%
Term Structure-2.2%-11.5%4.4%-11.5%1.3%
VWIV99.8%80.9%117.4%105.2%85.5%
Skew 25d-3.0%-12.3%4.4%-1.4%2.1%
Skew 10d-8.4%-22.1%10.0%-5.5%4.5%
Call IV 25d101.6%81.5%123.7%98.4%84.1%
Put IV 25d98.6%84.8%111.4%97.1%86.3%
Bid-Ask Spread %21.0512.0141.8041.8013.24
Gamma HHI0.170.110.620.140.62
Net GEX1.1M228.6K5.4M228.6K5.4M
Net DEX-32.0M-97.1M-4.7M-8.5M-97.1M
Net VEX-521.3K-633.1K-443.7K-472.2K-633.1K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.300.170.500.270.29
Total Volume131,852.68445,999476,339115,614133,173
Total OI805,872.368695,961955,016717,877811,292

Daily Data (19 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2026-02-02$4.84$6.0096.2%28.8%94.8%14.3%105.2%-1.4%-11.5%228.6K-8.5M-472.2K0.2741.8091,14524,469531,818186,059
2026-02-03$5.14$6.00102.7%31.4%96.6%16.8%111.8%-4.0%-0.4%761.6K-30.3M-539.6K0.2834.06114,13231,909568,053196,239
2026-02-04$4.94$6.00102.0%32.1%87.0%16.5%114.4%-5.9%-7.7%818.2K-21.6M-525.5K0.3118.3585,25126,652610,416204,297
2026-02-05$4.78$6.00103.3%28.3%80.2%17.0%102.5%1.5%-2.3%632.2K-15.8M-506.3K0.3712.0162,93023,184630,008215,370
2026-02-06$4.94$5.0098.0%27.2%80.3%15.0%97.3%-2.6%-3.2%540.2K-14.6M-515.5K0.3918.5471,12427,526635,630225,007
2026-02-09$4.94$5.0099.5%27.6%60.3%15.6%97.8%-1.5%-2.0%578.8K-23.3M-515.1K0.1922.3697,35318,729557,576197,345
2026-02-10$4.76$5.00100.3%27.1%60.3%15.9%99.7%-6.5%-3.3%711.4K-18.4M-489.9K0.2223.9763,94314,163605,854208,130
2026-02-11$4.75$5.0099.3%28.2%60.3%15.5%102.3%-3.4%-1.9%867.3K-18.6M-498.3K0.1712.5139,3856,614629,495210,719
2026-02-12$4.38$5.00103.5%28.9%64.3%17.1%105.6%-3.7%2.3%291.0K-4.7M-460.6K0.5030.1555,06027,531647,137212,363
2026-02-13$4.47$5.00102.7%28.8%64.6%16.8%103.4%-6.6%-4.6%367.3K-11.6M-471.7K0.3631.5680,81929,319655,048215,263
2026-02-17$4.37$5.00104.9%29.9%58.1%17.6%107.5%-5.8%-0.9%314.5K-6.5M-443.7K0.3212.8171,74822,649577,634203,957
2026-02-18$4.62$5.00105.3%30.2%63.3%17.8%108.5%-6.2%-4.1%583.4K-20.3M-479.5K0.4015.0371,07528,121600,831216,333
2026-02-19$4.70$5.00111.2%32.2%63.8%20.0%117.4%-12.3%-6.8%756.8K-34.6M-519.3K0.4316.27130,18556,586630,265233,926
2026-02-20$4.97$5.0083.7%24.1%68.4%9.6%87.0%-2.5%-1.4%2.5M-40.2M-542.7K0.3738.63347,354128,985688,474266,542
2026-02-23$4.71$5.0089.7%25.5%67.4%11.9%95.7%-4.7%-2.2%902.9K-39.4M-538.5K0.2215.37117,38525,873522,027173,934
2026-02-24$5.01$5.0084.9%24.9%72.4%10.1%86.9%3.5%1.3%1.5M-57.8M-574.2K0.2213.7779,38717,398551,982177,986
2026-02-25$4.94$5.0082.4%24.5%72.4%9.1%86.7%-2.5%4.4%1.6M-54.4M-562.8K0.1813.3971,64413,093573,006183,742
2026-02-26$5.38$5.0082.9%23.6%79.5%9.3%80.9%4.4%1.0%2.4M-90.4M-615.3K0.2516.21158,98140,326573,055184,762
2026-02-27$5.45$5.0084.3%24.3%78.6%9.8%85.5%2.1%1.3%5.4M-97.1M-633.1K0.2913.24103,34529,828605,862205,430