UAN Options History — March 2026 In March 2026, UAN traded between $105.35 and $138.16. ATM implied volatility averaged 49.4%, placing in the 78.1% IV rank vs the trailing year. The 30-day expected move averaged 14.2%. IV traded below realized volatility by 19.2% (HV 20d: 68.7%). Max pain ranged from $90.00 to $125.00. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 11 of 22 days. Put/call ratio averaged 0.16.
Notable Days 2026-03-12 : Highest Volume — 2,523 contracts2026-03-09 : Largest IV spike — 31.0% change2026-03-17 : Highest IV Rank — 100.0%2026-03-31 : Largest Expected Move — 19.4%Monthly Statistics Metric Avg Min Max Open Close Price $127.03 $105.35 $138.16 $105.35 $127.45 Max Pain $117.73 $90.00 $125.00 $95.00 $125.00 ATM IV 49.4% 28.7% 67.7% 28.7% 67.7% Expected Move 14.2% 8.2% 19.4% 8.2% 19.4% HV 20d 68.7% 43.5% 79.8% 43.5% 78.3% HV 60d 58.9% 47.5% 65.2% 47.5% 65.2% IV Rank 78.1% 31.6% 100.0% 31.6% 100.0% IV Percentile 92.2% 61.1% 100.0% 61.1% 100.0% Term Structure 0.2% -6.2% 6.3% 4.9% -6.0% VWIV 49.0% 27.4% 65.9% 32.1% 65.9% Skew 25d 4.6% -7.8% 13.5% 2.8% 9.6% Skew 10d 3.4% -31.0% 24.8% 9.2% -31.0% Call IV 25d 48.0% 24.7% 64.7% 32.1% 62.0% Put IV 25d 52.6% 33.1% 71.6% 34.9% 71.6% Bid-Ask Spread % 64.14 35.32 107.40 105.42 42.77 Gamma HHI 0.19 0.15 0.31 0.18 0.15 Net GEX 1.2M 607.8K 1.5M 607.8K 1.2M Net DEX -44.5M -66.7M -13.1M -13.1M -41.2M Net VEX -106.0K -138.0K -47.3K -47.3K -128.4K Div Yield 0.0% 0.0% 0.0% 0.0% 0.0% P/C Ratio 0.16 0.00 0.71 0.02 0.59 Total Volume 560.955 27 2,523 152 327 Total OI 7,457.045 4,391 9,502 4,391 8,483
Daily Data (22 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 2026-03-02 $105.35 $95.00 28.7% 8.2% 43.5% 31.6% 32.1% 2.8% 4.9% 607.8K -13.1M -47.3K 0.02 105.42 N/A N/A 149 3 3,725 666 2026-03-03 $110.48 $95.00 31.4% 9.0% 45.6% 38.1% 34.0% 4.8% 6.3% 787.5K -18.6M -54.1K 0.06 100.10 N/A N/A 244 14 3,762 669 2026-03-04 $111.31 $95.00 33.4% 9.6% 45.5% 43.0% 32.1% 2.9% 2.3% 861.1K -21.0M -57.9K 0.10 107.40 N/A N/A 151 15 4,048 676 2026-03-05 $118.39 $90.00 32.3% 9.0% 49.7% 40.4% 31.4% 8.7% 0.7% 1.0M -29.6M -58.8K 0.03 104.38 N/A N/A 402 14 4,101 675 2026-03-06 $127.80 $90.00 34.8% 9.5% 55.3% 46.2% 37.1% 7.7% 5.1% 745.8K -40.3M -60.5K 0.45 93.27 N/A N/A 1,043 474 4,271 690 2026-03-09 $115.70 $125.00 45.6% 12.3% 67.8% 72.0% 27.4% 4.9% -0.8% 864.1K -25.0M -76.0K 0.06 95.63 N/A N/A 1,556 87 4,744 1,091 2026-03-10 $115.81 $125.00 42.8% 12.0% 65.1% 65.5% 46.0% -2.4% 5.8% 1.1M -26.0M -83.8K 0.03 92.28 N/A N/A 355 10 6,135 1,088 2026-03-11 $127.22 $125.00 43.9% 12.6% 72.6% 68.0% 47.1% 11.0% 1.5% 1.4M -45.1M -98.2K 0.04 85.32 N/A N/A 851 36 6,416 1,093 2026-03-12 $138.16 $125.00 43.3% 14.5% 77.3% 66.5% 42.2% 5.1% -1.1% 1.4M -66.7M -99.4K 0.12 43.06 N/A N/A 2,261 262 6,738 1,091 2026-03-13 $132.09 $125.00 51.0% 15.1% 79.8% 85.0% 52.4% 3.7% 3.7% 1.3M -54.6M -122.4K 0.71 48.73 N/A N/A 360 255 7,303 1,321 2026-03-16 $131.74 $125.00 53.9% 15.9% 78.8% 92.0% 57.2% 4.4% 2.4% 1.4M -56.6M -122.5K 0.09 63.89 N/A N/A 997 86 7,483 1,214 2026-03-17 $130.30 $125.00 57.4% 16.2% 78.8% 100.0% 56.4% -2.6% -1.4% 1.4M -53.1M -128.8K 0.00 43.91 N/A N/A 211 1 7,765 1,283 2026-03-18 $131.86 $125.00 58.4% 16.5% 78.8% 100.0% 56.6% 5.9% -3.2% 1.5M -57.3M -128.1K 0.31 45.59 N/A N/A 212 66 7,904 1,285 2026-03-19 $131.43 $125.00 54.8% 15.6% 78.5% 93.6% 55.5% 1.8% -0.9% 1.5M -58.2M -132.0K 0.01 50.88 N/A N/A 397 3 7,968 1,326 2026-03-20 $128.99 $125.00 54.2% 15.3% 75.7% 92.2% 53.8% -7.8% 1.4% 1.4M -52.8M -129.6K 0.07 43.63 N/A N/A 296 22 8,175 1,327 2026-03-23 $127.90 $125.00 51.9% 14.6% 72.5% 86.7% 53.6% 3.4% 3.0% 1.1M -40.9M -125.8K 0.34 48.00 N/A N/A 166 57 6,924 982 2026-03-24 $135.05 $125.00 58.3% 16.1% 73.7% 100.0% 57.5% 7.0% -1.3% 1.2M -52.4M -132.1K 0.10 37.88 N/A N/A 441 43 7,025 1,025 2026-03-25 $137.19 $125.00 58.3% 17.5% 73.2% 100.0% 54.9% 13.5% -6.0% 1.3M -57.1M -137.7K 0.06 41.07 N/A N/A 126 8 7,261 1,054 2026-03-26 $136.89 $125.00 59.5% 17.1% 73.3% 96.6% 58.8% 5.7% -3.8% 1.3M -56.8M -136.0K 0.15 42.52 N/A N/A 171 25 7,326 1,057 2026-03-27 $135.98 $125.00 62.4% 17.9% 73.7% 100.0% 64.6% 1.8% -6.2% 1.3M -55.7M -138.0K 0.13 40.07 N/A N/A 24 3 7,370 1,071 2026-03-30 $137.61 $125.00 63.1% 18.1% 72.9% 100.0% 61.9% 9.8% -0.9% 1.3M -58.0M -134.9K 0.07 35.32 N/A N/A 109 8 7,370 1,074 2026-03-31 $127.45 $125.00 67.7% 19.4% 78.3% 100.0% 65.9% 9.6% -6.0% 1.2M -41.2M -128.4K 0.59 42.77 N/A N/A 206 121 7,411 1,072
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