February OPEX (Options Expiration) Live with Brent Kochuba | SpotGamma

Why It Matters

Traders need to account for heightened expiration-driven volatility and dealer negative gamma when sizing trades and setting levels; meanwhile, elevated IV in software names creates asymmetric options opportunities around earnings. Understanding these dynamics affects risk management, hedging, and potential trade profitability heading into and after OPEX.

Summary

On February 18 SpotGamma hosted its OPEX live, noting that despite expectations for downside pressure around VIX expiration the market moved higher. The firm highlighted pervasive negative gamma heading into expiration—implying dealers amplify moves and elevated intraday volatility—and pointed to its 6,900 pivot as the key risk-on/risk-off threshold. SpotGamma also flagged single-stock opportunities in the software sector, where near-100% IV rank and upcoming earnings make vega-driven trades attractive. The presenter emphasized that earnings typically produce IV contraction, which can reward options strategies even if stock moves disappoint.

Original Description

🔥 OPEX TOP STOCKS + ANALYSIS ➡️ https://spotgamma.com/opex/

Join SpotGamma Founder, Brent Kochuba, live to discuss all things options expiration for February 2026, a reliably volatile time in the markets where options can have a BIG impact.

_Where Options Flow The Markets Go_

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*Note: This content is intended for general information and entertainment purposes only. No mention of company names, trading strategies or illustrative examples constitute investment advice. SpotGamma advises you to seek investment advice from a licensed professional.

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