UAN Options History — April 2026

In April 2026, UAN traded between $124.81 and $125.53. ATM implied volatility averaged 66.1%, placing in the 96.6% IV rank vs the trailing year. The 30-day expected move averaged 19.0%. IV traded below realized volatility by 11.4% (HV 20d: 77.5%). Max pain ranged from $85.00 to $125.00. Net GEX was positive for 2 of 2 trading days. Term structure was in contango for 0 of 2 days. Put/call ratio averaged 0.27.

Notable Days

2026-04-02: Highest Volume — 861 contracts
2026-04-02: Largest IV spike — 6.2% change
2026-04-02: Highest IV Rank — 100.0%
2026-04-02: Largest Expected Move — 19.5%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$125.17	$124.81	$125.53	$124.81	$125.53
Max Pain	$105.00	$85.00	$125.00	$125.00	$85.00
ATM IV	66.1%	64.1%	68.1%	64.1%	68.1%
Expected Move	19.0%	18.4%	19.5%	18.4%	19.5%
HV 20d	77.5%	76.1%	78.9%	78.9%	76.1%
HV 60d	64.9%	64.6%	65.1%	65.1%	64.6%
IV Rank	96.6%	93.1%	100.0%	93.1%	100.0%
IV Percentile	99.8%	99.6%	100.0%	99.6%	100.0%
Term Structure	-2.6%	-3.0%	-2.2%	-3.0%	-2.2%
VWIV	62.7%	59.2%	66.3%	66.3%	59.2%
Skew 25d	1.2%	0.8%	1.6%	1.6%	0.8%
Skew 10d	5.5%	-18.4%	29.4%	-18.4%	29.4%
Call IV 25d	61.2%	59.8%	62.6%	62.6%	59.8%
Put IV 25d	62.4%	60.6%	64.2%	64.2%	60.6%
Bid-Ask Spread %	41.85	40.26	43.44	40.26	43.44
Gamma HHI	0.14	0.14	0.14	0.14	0.14
Net GEX	1.1M	1.1M	1.1M	1.1M	1.1M
Net DEX	-38.0M	-38.8M	-37.1M	-37.1M	-38.8M
Net VEX	-124.7K	-126.4K	-123.1K	-123.1K	-126.4K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.27	0.01	0.54	0.54	0.01
Total Volume	725.5	590	861	590	861
Total OI	8,646	8,570	8,722	8,570	8,722

Daily Data (2 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
2026-04-01	$124.81	$125.00	64.1%	18.4%	78.9%	93.1%	66.3%	1.6%	-3.0%	1.1M	-37.1M	-123.1K	0.54	40.26	N/A	N/A	383	207	7,421	1,149
2026-04-02	$125.53	$85.00	68.1%	19.5%	76.1%	100.0%	59.2%	0.8%	-2.2%	1.1M	-38.8M	-126.4K	0.01	43.44	N/A	N/A	854	7	7,493	1,229