Pre-Market IV Report February 23, 2026

Pre-Market IV Report February 23, 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: WOLF PL UCO USO DHT AGQ PRGS ATEC PHAT VTYX FROG MESO RPT BW DAVE SIVR SLV GTE XERS JANX EWY EC BBIO AMG NVGS SEM TGLS FCG DCH ICLN BIZD DX CPER DBRG

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

Movement into State of Union

Novo Nordisk (NVO) 30-day option implied volatility is at 43; compared to its 52-week range of 36 to 70. Call put ratio 1 call to 1 put as share price down before the bell.

Eli Lilly & Co. (LLY) 30-day option implied volatility is at 33; compared to its 52-week range of 27 to 64. Call put ratio 1.1 calls to 1 put into share price up before the bell.

Strategy (MSTR) 30-day option implied volatility is at 78; compared to its 52-week range of 44 to 127. Call put ratio 1.6 calls to 1 put into Bitcoin trades below $67K

Oracle (ORCL) 30-day option implied volatility is at 74; compared to its 52-week range of 28 to 73. Call put ratio 1 call to 1.2 puts amid wide movement.

CoreWeave (CRWV) 30-day option implied volatility is at 119; compared to its 52-week range of 67 to 157. Call put ratio 1.1 calls to 1 put amid wide price movement.

Nebius Group (NBIS) 30-day option implied volatility is at 92; compared to its 52-week range of 65 to 127. Call put ratio 2.2 calls to 1 put amid wide price movement.

SailPoint (SAIL) 30-day option implied volatility is at 72; compared to its 52-week range of 39 to 86. Call put ratio 1 call to 1 put.

Cloudflare (NET) 30-day option implied volatility is at 59; compared to its 52-week range of 40 to 100. Call put ratio 1 call to 1.3 puts.

CrowdStrike (CRWD) 30-day option implied volatility is at 58; compared to its 52-week range of 32 to 77. Call put ratio 1 call to 1 put.

Palo Alto Networks (PANW) 30-day option implied volatility is at 40; compared to its 52-week range of 25 to 63. Call put ratio 1 call to 1.4 puts.

Okta, Inc. (OKTA) 30-day option implied volatility is at 71; compared to its 52-week range of 30 to 71. Call put ratio 1 call to 1.2 puts amid wide price movement.

Fortinet (FTNT) 30-day option implied volatility is at 35; compared to its 52-week range of 25 to 76. Call put ratio 1 call to 4 puts amid wide price movement

Rapid7, Inc. (RPD) 30-day option implied volatility is at 64; compared to its 52-week range of 37 to 88 with a focus on January 3 puts.

JFrog Ltd. (FROG) 30-day option implied volatility is at 73; compared to its 52-week range of 34 to 107. Call put ratio 1 call to 1 put amid wide price movement.

Vanda Pharmaceuticals (VNDA) 30-day option implied volatility is at 116; compared to its 52-week range of 39 to 121. Call put ratio 4.2 calls to 1 put into announces FDA approval of Bysanti tablets.

AppLovin (APP) 30-day option implied volatility is at 71; compared to its 52-week range of 49 to 142. Call put ratio 1.8 calls to 1 put.

Opendoor (OPEN) 30-day option implied volatility is at 83; compared to its 52-week range of 73 to 328. Call put ratio 2.8 calls to 1 put.

AXT, Inc. (AXTI) 30-day option implied volatility is at 148; compared to its 52-week range of 20 to 171. Call put ratio 6.6 calls to 1 put with a focus on March 40 calls.

GRAIL, Inc. (GRAL) 30-day option implied volatility is at 91; compared to its 52-week range of 72 to 129. Call put ratio 1.2 calls to 1 put amid wide price movement.

Solaris Energy Infrastructure (SEI) 30-day option implied volatility is at 114; compared to its 52-week range of 59 to 138. Call put ratio 1 call to 23 puts with a focus on a spreader of February 52.50 and March 45 puts.

Select Medical Holdings (SEM) 30-day option implied volatility is at 51; compared to its 52-week range of 36 to 85 with a focus on June 15 puts.

Progress Software Corporation (PRGS) 30-day option implied volatility is at 76; compared to its 52-week range of 23 to 84 with a focus on March 45 calls.

Blue Owl Capital (OWL) 30-day option implied volatility is at 64; compared to its 52-week range of 31 to 79. Call put ratio 1 call to 2.4 puts amid wide price movement.

Straddle into quarter results and outlook

Home Depot (HD) February 27 weekly 382.50 straddle priced for a move of 5.5%. Call put ratio 1.9 calls to 1 put into the expected release of quarter results before the bell on February 24.

Workday (WDAY) February 27 weekly 127.50 straddle priced for a move of 12%. Call put ratio 1 calls to 1.3 puts into the expected release of quarter results before the bell on February 24.

NVIDIA (NVDA) February 23 weekly190 straddle priced for a move of 7%. Call put ratio 1.5 calls to 1 put into the expected release of quarter results after the bell on February 25.

Options with decreasing option implied volatility: OCUL CMPS AKAM TWLO CONL ROKU PINS ZIM DASH CVNA LMND TOST SFM USAR FIG EXPE SEDG RIVN W AMAT HBAN CDNS HBAN WMT WU CPRT ANET FLR CART KVUE ETSY
Increasing unusual option volume: PROP PRGS XLC RNG FIVN VEA FND
Increasing unusual call option volume: PRGS EWJ PROP IGV FIVN VEA XP RNG SKE OLN
Increasing unusual put option volume: XLC FND FROG EWY CME SEI FSLY XPO AKAM CMPS
Popular stocks with increasing option volume: MU MSTR INTC NFLX OPEN CRWV SOFI ORCL HOOD
Active options: NVDA TSLA AMZN AAPL MSFT GOOGL MU AMD PLTR MSTR META INTC NFLX OPEN GOOG CRWV SOFI ORCL HOOD IREN
Global S&P Futures mixed in premarket, Nikkei down 1%, DAX mixed, WTI Crude oil recently at $66.20, natural gas up 2%, gold at $5165