Pre-Market IV Report February 20, 2026

Pre-Market IV Report February 20, 2026

The following report is a snapshot of noteworthy changes in stock and option volumes, as well as changes in option implied volatilities. By monitoring this market data, traders can create strategies that capitalize on this often over looked information

Options with increasing option implied volatility: UCO PL LULU ACN NKE CFLT EPD ATEX APT FIGS AZ UCO ETH SCO BMO OWL FAS CRC AAL WAL ARCC GLDD EC EA BKLN HOLX BX JETS

Stocks expected to have increasing option volume: USO XOM CVX SLV GDX DBX AKAM RNG MSTR TXRH LZ LYV

Movers as WTI Crude oil trends higher

Delta Air Lines (DAL) 30-day option implied volatility is at 47; compared to its 52-week range of 34 to 89. Call put ratio 1 call to 1.5 puts as share price down.

United Airlines (UAL) 30-day option implied volatility is at 53; compared to its 52-week range of 39 to 105. Call put ratio 1 call to 1.1 puts as share price down.

Southwest Airlines (LUV) 30-day option implied volatility is at 47; compared to its 52-week range of 29 to 77. Call put ratio 1 call to 1 put.

American Airlines (AAL) 30-day option implied volatility is at 55; compared to its 52-week range of 37 to 95. Call put ratio 1 call to 1.1 puts.

United States Oil Fund (USO) 30-day option implied volatility is at 47; compared to its 52-week range of 25 to 66. Call put ratio 2.2 calls to 1 put into WTI crude trades neat 4-month high.

ExxonMobil (XOM) 30-day option implied volatility is at 31; compared to its 52-week range of 18 to 53. Call put ratio 1.3 calls to 1 put into WTI crude trades neat 4-month high.

Chevron (CVX) 30-day option implied volatility is at 27; compared to its 52-week range of 18 to 58. Call put ratio 2.7 calls to 1 put into WTI crude trades neat 4-month high.

SLB (SLB) 30-day option implied volatility is at 37; compared to its 52-week range of 28 to 65. Call put ratio 2.8 calls to 1 put into WTI crude trades neat 4-month high.

Halliburton (HAL) 30-day option implied volatility is at 41; compared to its 52-week range of 30 to 69. Call put ratio 3 calls to 1 put into WTI crude trades neat 4-month high.

Herbalife (HLF) 30-day option implied volatility is at 63; compared to its 52-week range of 18 to 58. Call put ratio 2.2 calls to 1 put after Herbalife says Cristiano Ronaldo invests $7.5M in Pro2col technology.

Melco Resorts & Entertainment (MLCO) 30-day option implied volatility is at 53; compared to its 52-week range of 37 to 95. Call put ratio 9.5 calls to 1 put with a focus on 5K contracts of April 6 calls.

Blue Owl Capital (OWL) 30-day option implied volatility is at 59; compared to its 52-week range of 31 to 79. Call put ratio 1 call to 2.5 puts.

Ares Management (ARES) 30-day option implied volatility is at 49; compared to its 52-week range of 27 to 77. Call put ratio 1 call to 2.1 puts.

PBF Energy (PBF) 30-day option implied volatility is at 69; compared to its 52-week range of 51 to 107 with a focus on a spreader of February 30, February 35 puts, March 28 and March 33 puts.

Petrobras (PBR) 30-day option implied volatility is at 37; compared to its 52-week range of 21 to 57. Call put ratio 6.8 calls to 1 put with a focus on Marach 15 calls.

Blackstone Mortgage Trust (BXMT) 30-day option implied volatility is at 21; compared to its 52-week range of 15 to 45. Call put ratio 1 call to 15 puts with a focus on 2K contracts of April 17 puts.

Straddle into quarter results and outlook

Domino’s Pizza (DPZ) March 390 straddle priced for a move of 9%. Call put ratio 1.2 calls to 1 put into the expected release of quarter results before the bell on February 23.

Options with decreasing option implied volatility: OCUL CMPS CVNA CROX ZIM APP TWLO LMND OGN FIG ROKU DASH HUBS AAP BBIO ETSY IRDM DXCM PINS BAX CART W ABNB RIVN FLR BROS PINS CART INSM CSCO EBAY BUD VTYX UL BTI
Increasing unusual option volume: AB PBRA CMI GLBE SHEL WTI AZN
Increasing unusual call option volume: SHEL PBRA AZN CMI GSK WTI YUM BP HLT
Increasing unusual put option volume: HUN PBF Z INTU SAP KLAR AKAM XRX CMPS FSLY
Popular stocks with increasing option volume: WMT MSTR INTC MU SMCI OXY AAL SOFI CVNA
Active options: TSLA NVDA MSFT PLTR AMZN AMD AAPL WMT MSTR INTC MU SMCI OXY META AAL ONDS SOFI GOOGL CVNA NFLX
Global S&P Futures mixed in premarket, Nikkei down 1%, DAX mixed, WTI Crude oil recently at $66.07, natural gas mixed, gold at $5047