PFFA Options History — January 2026

In January 2026, PFFA traded between $21.62 and $21.96. ATM implied volatility averaged 8.2%, placing in the 15.5% IV rank vs the trailing year. The 30-day expected move averaged 1.8%. IV traded above realized volatility by 0.8% (HV 20d: 7.4%). Max pain ranged from $22.00 to $22.00. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 18 of 20 days. Put/call ratio averaged 1.37.

Notable Days

  • 2026-01-12: Highest Volume — 103 contracts
  • 2026-01-13: Largest IV spike — 377.0% change
  • 2026-01-13: Highest IV Rank — 55.6%
  • 2026-01-06: Largest Expected Move — 2.9%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$21.80$21.62$21.96$21.71$21.76
Max Pain$22.00$22.00$22.00$22.00$22.00
ATM IV8.2%3.1%23.0%9.5%7.5%
Expected Move1.8%0.9%2.9%2.7%2.1%
HV 20d7.4%6.6%8.9%6.7%7.9%
HV 60d7.1%6.7%7.6%7.1%7.4%
IV Rank15.5%0.0%55.6%17.5%16.7%
IV Percentile34.7%0.0%97.6%63.5%38.9%
Term Structure2.6%-1.5%5.3%0.1%-1.5%
VWIV15.0%3.5%53.4%5.5%9.5%
Skew 25d12.6%-2.7%26.3%7.5%0.7%
Skew 10d10.8%-14.0%29.2%2.6%-4.7%
Call IV 25d6.5%3.4%14.6%4.2%6.4%
Put IV 25d19.1%5.9%30.9%11.8%7.2%
Bid-Ask Spread %133.75105.72150.46105.72128.29
Gamma HHI0.680.470.900.500.58
Net GEX167.2K68.0K444.8K77.3K122.8K
Net DEX-102.8K-327.7K142.7K125.4K19.4K
Net VEX-3.4K-4.1K-2.6K-3.3K-4.1K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.370.037.431.540.36
Total Volume42.881033361
Total OI2,391.552,0452,6652,4232,384

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2026-01-02$21.71$22.009.5%2.7%6.7%17.5%5.5%7.5%0.1%77.3K125.4K-3.3K1.54105.72N/AN/A13208591,564
2026-01-05$21.66$22.006.9%1.6%6.7%10.2%0.0%3.0%3.3%68.6K118.7K-3.6K1.75134.14N/AN/A8148691,566
2026-01-06$21.68$22.0014.6%2.9%6.7%32.0%11.8%4.9%1.3%93.1K142.7K-3.0K1.00148.25N/AN/A448761,572
2026-01-07$21.66$22.0017.2%2.8%6.6%39.1%0.0%5.6%1.3%68.0K91.6K-3.2K0.10142.17N/AN/A1018741,575
2026-01-08$21.76$22.008.8%1.6%6.7%15.6%7.9%21.4%4.2%125.2K-29.4K-2.6K0.08142.05N/AN/A1218791,576
2026-01-09$21.87$22.0010.0%1.3%6.8%18.9%0.0%19.3%3.7%152.3K-70.0K-3.0K0.79149.02N/AN/A14118801,576
2026-01-12$21.88$22.004.8%1.6%6.7%4.2%0.0%19.2%3.8%194.3K-53.4K-2.9K0.03148.52N/AN/A10038941,577
2026-01-13$21.84$22.0023.0%1.5%6.7%55.6%4.3%20.6%2.0%170.2K-161.2K-2.9K0.22141.40N/AN/A46109791,579
2026-01-14$21.91$22.005.9%1.7%6.8%7.4%0.0%16.5%2.8%288.8K-244.6K-3.6K0.29142.70N/AN/A2161,0151,577
2026-01-15$21.96$22.006.1%1.8%6.8%7.8%0.0%3.5%2.6%444.8K-327.7K-3.4K1.22133.52N/AN/A36441,0301,582
2026-01-16$21.93$22.003.1%0.9%6.8%0.0%3.5%20.5%2.8%309.5K-271.7K-2.9K3.55124.20N/AN/A11391,0401,625
2026-01-20$21.62$22.004.8%1.4%8.4%6.6%5.9%0.8%-0.1%132.7K-126.3K-3.7K0.83118.37N/AN/A23198841,161
2026-01-21$21.80$22.005.3%1.5%8.9%8.5%27.6%25.6%3.5%129.1K-64.3K-3.0K0.67150.46N/AN/A46319021,174
2026-01-22$21.87$22.006.1%1.8%8.2%11.6%0.0%12.7%5.2%153.2K-255.4K-3.8K0.39131.35N/AN/A54219471,205
2026-01-23$21.82$22.006.1%1.8%8.1%11.5%0.0%20.2%5.3%153.2K-244.6K-3.9K5.00130.14N/AN/A10501,0011,226
2026-01-26$21.82$22.007.1%2.0%8.1%15.2%24.5%-2.7%4.2%149.7K-255.9K-3.9K7.43131.64N/AN/A7521,0111,276
2026-01-27$21.84$22.006.1%1.8%8.1%11.5%11.8%23.5%2.4%184.0K-200.4K-3.7K0.00125.97N/AN/A0351,0141,327
2026-01-28$21.82$22.006.7%1.9%8.1%13.7%0.0%26.3%3.0%167.8K-101.7K-4.0K0.57121.83N/AN/A741,0141,361
2026-01-29$21.77$22.004.7%1.3%8.2%6.0%53.4%2.2%1.9%160.0K-148.2K-3.7K0.14125.28N/AN/A711,0151,365
2026-01-30$21.76$22.007.5%2.1%7.9%16.7%9.5%0.7%-1.5%122.8K19.4K-4.1K0.36128.29N/AN/A45161,0181,366