UYG Options History — January 2026

In January 2026, UYG traded between $84.89 and $97.22. ATM implied volatility averaged 34.2%, placing in the 17.3% IV rank vs the trailing year. The 30-day expected move averaged 8.9%. IV traded below realized volatility by 6.7% (HV 20d: 40.9%). Max pain ranged from $87.17 to $89.17. Net GEX was positive for 18 of 20 trading days. Term structure was in contango for 12 of 20 days. Put/call ratio averaged 1.37.

Notable Days

  • 2026-01-13: Highest Volume — 371 contracts
  • 2026-01-14: Largest IV drop — 46.8% change
  • 2026-01-13: Highest IV Rank — 38.7%
  • 2026-01-20: Largest Expected Move — 10.7%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$89.87$84.89$97.22$91.79$86.50
Max Pain$88.72$87.17$89.17$88.17$89.17
ATM IV34.2%26.5%54.1%26.5%31.0%
Expected Move8.9%7.6%10.7%7.6%8.9%
HV 20d40.9%33.8%45.9%38.1%35.0%
HV 60d34.0%33.0%34.9%33.5%33.7%
IV Rank17.3%9.0%38.7%9.0%13.9%
IV Percentile44.2%12.3%94.0%12.3%29.4%
Term Structure0.5%-4.5%6.0%-2.6%1.5%
VWIV32.7%29.1%39.7%32.9%31.4%
Skew 25d9.4%0.3%17.8%10.9%0.3%
Skew 10d13.9%-8.2%30.6%7.7%8.4%
Call IV 25d28.4%22.2%34.8%24.2%29.1%
Put IV 25d37.8%29.4%49.0%35.1%29.4%
Bid-Ask Spread %83.9355.59115.30115.3091.01
Gamma HHI0.150.110.200.130.16
Net GEX25.8K-13.1K58.9K28.1K7.3K
Net DEX-720.3K-1.9M682.2K174.4K-1.0M
Net VEX-12.2K-14.6K-9.5K-10.2K-13.4K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.370.009.140.000.00
Total Volume35.2137114
Total OI951.956381,1816381,141

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2026-01-02$91.79$88.1726.5%7.6%38.1%9.0%0.0%10.9%-2.6%28.1K174.4K-10.2K0.00115.30N/AN/A10275363
2026-01-05$96.20$87.1734.2%7.8%41.9%17.3%32.9%13.6%2.7%28.3K-450.2K-9.6K0.8685.49N/AN/A1412277363
2026-01-06$97.22$88.1732.3%7.9%42.0%15.3%33.1%2.3%0.4%46.1K-639.4K-9.6K5.3377.13N/AN/A1264291363
2026-01-07$94.22$88.1739.1%9.1%43.3%22.6%38.0%8.4%-1.5%28.5K-188.6K-10.4K1.0073.88N/AN/A22295425
2026-01-08$95.51$88.1739.0%8.7%43.6%22.4%0.0%6.0%1.8%27.2K-278.6K-10.3K0.4071.68N/AN/A52296427
2026-01-09$94.87$88.1732.3%8.1%42.7%15.3%29.1%6.7%0.2%47.9K-332.3K-10.1K0.0076.09N/AN/A110301428
2026-01-12$93.16$88.1742.9%9.1%41.1%26.7%0.0%12.1%1.4%36.6K126.6K-10.0K0.0077.42N/AN/A310304428
2026-01-13$89.35$89.1754.1%9.3%43.2%38.7%0.0%17.8%-1.1%-13.1K682.2K-9.5K0.0090.56N/AN/A3710306430
2026-01-14$88.94$89.1728.8%8.3%43.0%11.5%34.1%8.0%3.0%58.9K-1.7M-13.9K9.1490.52N/AN/A764667429
2026-01-15$89.84$88.1731.4%9.0%43.4%14.3%30.0%6.7%-4.5%46.0K-1.9M-14.4K1.8384.32N/AN/A611672492
2026-01-16$89.99$89.1729.9%8.6%43.4%12.7%29.6%10.2%-0.4%55.7K-1.8M-14.6K1.5055.59N/AN/A812679502
2026-01-20$86.04$89.1737.4%10.7%45.6%20.7%0.0%12.4%-2.9%26.7K-947.6K-13.9K0.2085.46N/AN/A51607487
2026-01-21$87.14$89.1736.2%10.4%45.9%19.5%0.0%14.2%-2.3%19.1K-1.1M-14.2K0.0076.49N/AN/A20608488
2026-01-22$87.70$89.1730.3%8.7%44.6%13.1%29.6%5.4%0.9%18.8K-1.4M-13.6K0.5069.66N/AN/A84609488
2026-01-23$85.52$89.1732.1%9.2%44.8%15.0%0.0%12.1%4.5%22.5K-765.7K-13.7K0.8076.63N/AN/A54617491
2026-01-26$86.66$89.1731.3%9.0%33.8%14.2%39.7%7.8%0.2%-8.3K-712.5K-12.8K1.3368.96N/AN/A34619495
2026-01-27$85.28$89.1730.9%8.9%34.0%13.8%32.5%11.7%6.0%15.9K-638.8K-13.3K4.00105.34N/AN/A14622498
2026-01-28$84.89$89.1732.7%9.4%34.0%15.8%0.0%10.2%-2.5%17.8K-523.4K-13.1K0.00102.52N/AN/A80623501
2026-01-29$86.60$89.1731.6%9.1%35.1%14.5%31.4%10.7%4.3%5.4K-930.1K-13.5K0.60104.45N/AN/A106631501
2026-01-30$86.50$89.1731.0%8.9%35.0%13.9%0.0%0.3%1.5%7.3K-1.0M-13.4K0.0091.01N/AN/A40639502