PCEF Options History — February 2026 In February 2026, PCEF traded between $19.93 and $20.27. ATM implied volatility averaged 32.1%, placing in the 14.4% IV rank vs the trailing year. The 30-day expected move averaged 8.6%. IV traded above realized volatility by 25.0% (HV 20d: 7.1%). Max pain ranged from $19.00 to $20.00. Net GEX was positive for 12 of 19 trading days. Term structure was in contango for 2 of 19 days. Put/call ratio averaged 0.00.
Notable Days 2026-02-11 : Highest Volume — 3 contracts2026-02-20 : Largest IV spike — 42.9% change2026-02-20 : Highest IV Rank — 20.9%2026-02-20 : Largest Expected Move — 13.0%Monthly Statistics Metric Avg Min Max Open Close Price $20.14 $19.93 $20.27 $20.13 $20.06 Max Pain $19.16 $19.00 $20.00 $20.00 $19.00 ATM IV 32.1% 24.4% 45.2% 28.0% 25.4% Expected Move 8.6% 6.5% 13.0% 8.0% 7.3% HV 20d 7.1% 5.3% 7.9% 6.9% 7.4% HV 60d 6.9% 6.4% 7.2% 7.1% 6.6% IV Rank 14.4% 10.6% 20.9% 12.4% 11.1% IV Percentile 59.4% 33.3% 83.7% 46.4% 35.7% Term Structure -6.1% -18.4% 4.1% 1.7% -8.0% Skew 25d -9.1% -29.6% 17.6% 4.8% -25.5% Skew 10d 23.9% -14.8% 65.2% 25.0% -14.8% Call IV 25d 34.0% 23.2% 48.7% 44.7% 35.7% Put IV 25d 25.0% 10.0% 53.0% 49.5% 10.2% Bid-Ask Spread % 160.01 150.66 174.40 163.35 150.66 Gamma HHI 0.38 0.26 0.51 0.39 0.51 Net GEX 149 -653 946 322 946 Net DEX -5.0K -8.6K -953 -5.5K -8.6K Net VEX -101 -128 -69 -128 -69 Div Yield 0.0% 0.0% 0.0% 0.0% 0.0% P/C Ratio 0.00 0.00 0.00 0.00 0.00 Total Volume 0.526 0 3 0 0 Total OI 53.053 35 62 58 35
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 $20.13 $20.00 28.0% 8.0% 6.9% 12.4% 0.0% 4.8% 1.7% 322 -5.5K -128 0.00 163.35 N/A N/A 0 0 29 29 2026-02-03 $20.07 $20.00 33.3% 9.5% 7.0% 15.0% 0.0% 5.3% -8.7% 52 -3.2K -126 0.00 163.42 N/A N/A 0 0 29 29 2026-02-04 $20.04 $20.00 33.6% 9.6% 6.8% 15.1% 0.0% 4.2% -8.2% 242 -3.3K -126 0.00 166.41 N/A N/A 0 0 29 29 2026-02-05 $19.93 $19.00 30.9% 8.0% 7.0% 13.8% 0.0% -17.7% -4.1% 119 -953 -124 0.00 163.32 N/A N/A 0 0 29 29 2026-02-06 $20.08 $19.00 39.9% 8.1% 7.5% 18.2% 0.0% -22.5% -3.4% 257 -4.0K -123 0.00 159.87 N/A N/A 0 0 29 29 2026-02-09 $20.22 $19.00 42.9% 8.0% 7.7% 19.7% 0.0% -12.4% -3.6% 6 -5.8K -112 0.00 161.80 N/A N/A 0 2 29 29 2026-02-10 $20.23 $19.00 29.8% 6.5% 7.7% 13.2% 0.0% -5.7% -7.9% 25 -6.3K -113 0.00 157.16 N/A N/A 0 1 29 30 2026-02-11 $20.27 $19.00 29.4% 8.4% 7.7% 13.0% 0.0% -5.4% -8.0% -92 -5.9K -115 0.00 159.52 N/A N/A 3 0 29 31 2026-02-12 $20.17 $19.00 29.4% 8.4% 7.9% 13.0% 0.0% -13.4% -5.7% -121 -3.7K -114 0.00 161.81 N/A N/A 0 0 29 31 2026-02-13 $20.21 $19.00 29.8% 8.5% 7.9% 13.2% 0.0% 17.6% -5.2% -126 -5.1K -110 0.00 164.09 N/A N/A 0 0 29 31 2026-02-17 $20.19 $19.00 31.7% 9.1% 7.9% 14.2% 0.0% 1.8% -6.3% -80 -4.4K -98 0.00 161.06 N/A N/A 0 2 29 31 2026-02-18 $20.26 $19.00 27.7% 8.0% 5.8% 12.2% 0.0% 10.0% -9.7% -346 -3.4K -94 0.00 157.53 N/A N/A 0 0 29 33 2026-02-19 $20.20 $19.00 31.6% 9.1% 5.4% 14.1% 0.0% -2.1% -5.3% -399 -1.1K -91 0.00 158.93 N/A N/A 0 0 29 33 2026-02-20 $20.24 $19.00 45.2% 13.0% 5.3% 20.9% 0.0% -12.9% -18.4% -653 -3.0K -84 0.00 174.40 N/A N/A 0 2 29 33 2026-02-23 $19.98 $19.00 31.8% 9.1% 7.1% 14.2% 0.0% -21.1% -5.2% 571 -6.5K -77 0.00 155.42 N/A N/A 0 0 17 18 2026-02-24 $20.05 $19.00 24.4% 7.0% 7.2% 10.6% 0.0% -22.4% 4.1% 850 -8.3K -73 0.00 152.56 N/A N/A 0 0 17 18 2026-02-25 $20.13 $19.00 30.4% 8.7% 7.3% 13.6% 0.0% -25.0% -6.2% 644 -8.4K -72 0.00 153.70 N/A N/A 0 0 17 18 2026-02-26 $20.12 $19.00 34.4% 9.8% 7.3% 15.5% 0.0% -29.6% -7.6% 622 -8.2K -72 0.00 155.15 N/A N/A 0 0 17 18 2026-02-27 $20.06 $19.00 25.4% 7.3% 7.4% 11.1% 0.0% -25.5% -8.0% 946 -8.6K -69 0.00 150.66 N/A N/A 0 0 17 18
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