UYG Options History — February 2026

In February 2026, UYG traded between $77.69 and $89.05. ATM implied volatility averaged 37.3%, placing in the 19.6% IV rank vs the trailing year. The 30-day expected move averaged 10.7%. IV traded above realized volatility by 1.4% (HV 20d: 35.9%). Max pain ranged from $80.17 to $89.17. Net GEX was positive for 18 of 19 trading days. Term structure was in contango for 12 of 19 days. Put/call ratio averaged 0.33.

Notable Days

2026-02-04: Highest Volume — 21 contracts
2026-02-06: Largest IV drop — 30.5% change
2026-02-24: Highest IV Rank — 27.2%
2026-02-24: Largest Expected Move — 12.9%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$83.62	$77.69	$89.05	$88.41	$79.57
Max Pain	$81.59	$80.17	$89.17	$89.17	$80.17
ATM IV	37.3%	29.0%	45.1%	30.7%	42.1%
Expected Move	10.7%	8.8%	12.9%	8.8%	12.1%
HV 20d	35.9%	31.6%	44.1%	36.1%	44.1%
HV 60d	35.8%	33.9%	38.9%	33.9%	38.9%
IV Rank	19.6%	11.7%	27.2%	13.6%	23.9%
IV Percentile	61.5%	17.9%	86.9%	27.8%	82.1%
Term Structure	4.4%	-4.5%	35.6%	2.7%	-0.5%
VWIV	35.7%	15.7%	76.0%	27.0%	40.9%
Skew 25d	11.0%	-4.0%	19.7%	10.3%	8.5%
Skew 10d	24.6%	10.9%	42.7%	10.9%	31.6%
Call IV 25d	31.8%	23.3%	43.5%	26.3%	37.8%
Put IV 25d	42.8%	33.7%	57.1%	36.5%	46.2%
Bid-Ask Spread %	92.32	80.03	105.14	102.46	92.41
Gamma HHI	0.25	0.14	0.43	0.18	0.43
Net GEX	37.2K	-4.4K	103.3K	25.4K	91.2K
Net DEX	-543.6K	-1.9M	418.1K	-1.5M	149.4K
Net VEX	-11.7K	-13.8K	-9.2K	-12.4K	-9.2K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.33	0.00	1.17	0.80	0.22
Total Volume	10.895	1	21	9	11
Total OI	1,157.684	1,023	1,223	1,145	1,066

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 Wall	Put Wall	Call Vol	Put Vol	Call OI	Put OI
2026-02-02	$88.41	$89.17	30.7%	8.8%	36.1%	13.6%	27.0%	10.3%	2.7%	25.4K	-1.5M	-12.4K	0.80	102.46	N/A	N/A	5	4	643	502
2026-02-03	$86.82	$89.17	38.6%	11.1%	31.6%	22.0%	30.7%	13.6%	-4.5%	19.7K	-1.2M	-13.8K	0.42	105.14	N/A	N/A	12	5	670	503
2026-02-04	$88.51	$89.17	35.9%	10.3%	32.3%	19.2%	34.5%	3.1%	-3.4%	-4.4K	-1.3M	-12.1K	0.00	98.88	N/A	N/A	21	0	672	503
2026-02-05	$85.96	$80.17	41.7%	10.5%	32.1%	25.3%	0.0%	12.8%	18.2%	14.4K	-1.0M	-12.7K	0.00	90.59	N/A	N/A	12	0	682	503
2026-02-06	$89.05	$80.17	29.0%	9.7%	34.5%	11.7%	37.9%	10.4%	0.2%	23.9K	-1.7M	-13.8K	0.00	81.13	N/A	N/A	10	0	682	503
2026-02-09	$88.20	$80.17	30.9%	9.8%	34.6%	13.8%	32.9%	13.5%	-1.5%	28.0K	-1.9M	-12.6K	0.00	88.72	N/A	N/A	4	0	692	503
2026-02-10	$86.81	$80.17	35.9%	9.3%	34.4%	19.1%	33.8%	6.7%	17.1%	22.0K	-1.3M	-12.5K	0.75	84.47	N/A	N/A	4	3	696	503
2026-02-11	$84.35	$80.17	34.6%	9.9%	32.8%	17.7%	30.9%	12.3%	21.1%	13.9K	-617.1K	-12.5K	0.15	88.90	N/A	N/A	13	2	699	506
2026-02-12	$81.22	$80.17	37.4%	10.7%	35.1%	20.8%	0.0%	8.3%	-2.1%	19.7K	74.5K	-12.1K	0.29	97.41	N/A	N/A	14	4	703	506
2026-02-13	$80.21	$80.17	36.6%	10.5%	34.7%	17.9%	0.0%	15.6%	0.1%	30.7K	418.1K	-12.1K	0.60	97.88	N/A	N/A	5	3	712	499
2026-02-17	$82.21	$80.17	38.9%	11.1%	36.3%	20.3%	40.1%	11.4%	1.2%	15.3K	37.3K	-11.6K	0.25	80.03	N/A	N/A	4	1	715	500
2026-02-18	$83.38	$80.17	36.8%	10.6%	33.5%	18.1%	35.5%	16.4%	2.1%	10.9K	-299.5K	-11.7K	1.17	87.44	N/A	N/A	6	7	717	500
2026-02-19	$81.77	$80.17	38.7%	11.1%	33.7%	20.1%	0.0%	9.2%	2.3%	21.6K	86.5K	-11.6K	1.00	93.83	N/A	N/A	1	1	717	505
2026-02-20	$82.76	$80.17	36.8%	10.6%	33.9%	18.1%	33.4%	9.1%	1.0%	15.4K	-8.9K	-11.1K	0.00	89.14	N/A	N/A	1	0	718	505
2026-02-23	$77.69	$80.17	42.1%	12.1%	39.5%	23.9%	39.0%	-4.0%	35.6%	78.1K	103.1K	-9.9K	0.05	93.18	N/A	N/A	20	1	647	376
2026-02-24	$78.09	$80.17	45.1%	12.9%	39.1%	27.2%	76.0%	19.7%	0.0%	74.3K	383.5K	-9.8K	0.06	85.85	N/A	N/A	16	1	662	377
2026-02-25	$80.72	$80.17	38.7%	11.1%	41.1%	20.2%	15.7%	18.1%	-2.7%	102.7K	-74.2K	-10.4K	0.00	99.38	N/A	N/A	0	6	675	378
2026-02-26	$82.99	$80.17	38.3%	11.0%	42.5%	19.8%	27.6%	13.9%	-3.2%	103.3K	-692.4K	-10.6K	0.25	97.32	N/A	N/A	8	2	675	381
2026-02-27	$79.57	$80.17	42.1%	12.1%	44.1%	23.9%	40.9%	8.5%	-0.5%	91.2K	149.4K	-9.2K	0.22	92.41	N/A	N/A	9	2	683	383