SMCI Options History — February 2026

In February 2026, SMCI traded between $29.43 and $34.58. ATM implied volatility averaged 72.5%, placing in the 19.4% IV rank vs the trailing year. The 30-day expected move averaged 21.0%. IV traded below realized volatility by 16.4% (HV 20d: 88.9%). Max pain ranged from $30.00 to $33.00. Net GEX was positive for 19 of 19 trading days. Term structure was in contango for 6 of 19 days. Put/call ratio averaged 0.39.

Notable Days

2026-02-04: Highest Volume — 581,629 contracts
2026-02-04: Largest IV drop — 18.6% change
2026-02-03: Highest IV Rank — 35.2%
2026-02-03: Largest Expected Move — 28.4%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$31.69	$29.43	$34.58	$29.63	$32.28
Max Pain	$30.63	$30.00	$33.00	$33.00	$30.00
ATM IV	72.5%	67.7%	90.1%	83.7%	69.9%
Expected Move	21.0%	19.4%	28.4%	25.8%	19.8%
HV 20d	88.9%	56.2%	98.3%	57.0%	96.1%
HV 60d	65.3%	52.3%	69.1%	58.0%	68.4%
IV Rank	19.4%	14.7%	35.2%	29.4%	23.3%
IV Percentile	42.6%	29.8%	77.8%	68.3%	37.7%
Term Structure	-0.8%	-5.7%	2.7%	-5.7%	-1.8%
VWIV	74.7%	68.3%	104.9%	93.6%	69.6%
Skew 25d	4.1%	-2.4%	7.9%	-2.4%	7.9%
Skew 10d	5.4%	-12.3%	16.3%	-11.3%	16.3%
Call IV 25d	72.3%	66.3%	93.2%	87.9%	67.0%
Put IV 25d	76.4%	72.1%	92.3%	85.5%	75.0%
Bid-Ask Spread %	12.08	7.88	17.11	9.89	12.55
Gamma HHI	0.08	0.04	0.25	0.05	0.18
Net GEX	21.8M	5.8M	57.9M	12.3M	39.5M
Net DEX	-179.1M	-861.3M	246.2M	-14.9M	-300.9M
Net VEX	-10.7M	-12.0M	-9.7M	-10.6M	-10.5M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.39	0.17	0.70	0.43	0.35
Total Volume	220,819.789	85,070	581,629	170,214	290,688
Total OI	2,079,159.105	1,865,413	2,223,690	2,017,413	2,071,664

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	$29.63	$33.00	83.7%	25.8%	57.0%	29.4%	93.6%	-2.4%	-5.7%	12.3M	-14.9M	-10.6M	0.43	9.89	119,325	50,889	1,160,697	856,716
2026-02-03	$29.43	$33.00	90.1%	28.4%	56.2%	35.2%	104.9%	-0.9%	-2.7%	12.1M	-25.9M	-10.7M	0.59	7.88	144,321	85,524	1,204,177	878,308
2026-02-04	$33.76	$33.00	73.4%	20.7%	74.7%	19.9%	74.1%	0.5%	-1.8%	34.4M	-798.8M	-12.0M	0.37	10.84	425,491	156,138	1,262,229	914,204
2026-02-05	$30.25	$30.00	76.1%	21.9%	85.1%	22.4%	77.4%	7.0%	-0.7%	11.4M	79.0M	-10.6M	0.46	12.43	159,842	72,961	1,246,654	958,619
2026-02-06	$34.58	$30.00	71.1%	20.1%	97.2%	17.8%	72.8%	4.2%	-0.3%	43.3M	-861.3M	-12.0M	0.34	11.88	304,954	104,522	1,266,497	957,193
2026-02-09	$33.48	$30.00	72.5%	20.4%	98.2%	19.1%	71.7%	2.5%	-1.2%	21.4M	-358.7M	-11.4M	0.48	12.93	93,998	44,655	1,152,723	901,559
2026-02-10	$33.18	$31.00	69.5%	19.8%	98.3%	16.3%	70.5%	2.7%	-0.4%	22.2M	-310.8M	-11.3M	0.34	12.06	89,089	30,519	1,188,599	921,532
2026-02-11	$31.99	$31.00	70.1%	20.0%	96.9%	16.9%	70.5%	3.3%	1.0%	12.5M	-42.6M	-10.8M	0.31	10.16	138,878	43,263	1,203,820	926,084
2026-02-12	$30.81	$31.00	69.6%	20.3%	98.0%	16.5%	72.5%	4.0%	0.3%	6.5M	114.1M	-10.5M	0.17	11.90	227,036	39,428	1,228,958	924,081
2026-02-13	$30.40	$30.00	70.3%	20.0%	97.1%	17.1%	70.0%	6.1%	-0.6%	9.7M	137.8M	-10.4M	0.49	10.79	97,208	47,848	1,276,811	931,519
2026-02-17	$30.25	$30.00	71.2%	20.4%	88.6%	18.0%	71.5%	4.4%	1.6%	10.9M	139.7M	-10.0M	0.45	11.81	69,164	30,883	1,156,773	875,967
2026-02-18	$29.69	$30.00	67.7%	19.4%	87.4%	14.7%	68.4%	5.8%	0.7%	5.8M	246.2M	-9.7M	0.26	12.88	138,376	36,195	1,182,113	879,937
2026-02-19	$31.91	$30.00	71.2%	20.5%	91.2%	17.9%	72.0%	4.8%	-3.4%	28.8M	-219.1M	-10.5M	0.30	12.81	187,701	55,586	1,210,304	887,922
2026-02-20	$32.31	$30.00	69.1%	19.9%	91.0%	16.0%	71.9%	6.0%	-2.0%	57.9M	-351.7M	-10.6M	0.32	15.06	222,881	71,496	1,255,235	901,610
2026-02-23	$30.89	$30.00	71.1%	20.7%	91.9%	17.8%	73.9%	4.3%	-0.9%	14.5M	-20.3M	-10.0M	0.70	8.84	65,076	45,290	1,061,738	803,675
2026-02-24	$31.24	$30.00	70.7%	21.0%	91.4%	17.5%	72.1%	6.5%	2.7%	15.5M	-43.6M	-10.0M	0.45	17.11	58,542	26,528	1,084,138	825,757
2026-02-25	$33.76	$30.00	71.4%	20.7%	95.4%	18.1%	73.2%	6.1%	-0.2%	26.5M	-563.8M	-11.0M	0.30	13.18	153,749	45,381	1,104,080	838,272
2026-02-26	$32.25	$30.00	68.4%	19.7%	97.0%	15.4%	68.3%	5.3%	0.2%	28.6M	-207.5M	-10.3M	0.37	14.54	162,002	60,149	1,147,907	855,951
2026-02-27	$32.28	$30.00	69.9%	19.8%	96.1%	23.3%	69.6%	7.9%	-1.8%	39.5M	-300.9M	-10.5M	0.35	12.55	215,376	75,312	1,194,959	876,705