Feb. 6th, 2026 Option Outlook

Vol Signal?

Good Morning! Yesterday we saw markets drop 1.2% with vol pushing to the upside.

This was the spot-vol beta widget at 3:59.

This was the spot-vol widget at the bell.

So close, but yet, so far. This doesn’t count as a vol event, but there were some serious shifts to the option surface yesterday. What changed and what does that mean for markets?

Yesterday we saw many puts bought at 6730 and 6725 for next week. We looked at today’s expiration yesterday and saw we were deep in support zone, likely causing conditions that created a near vol event. With those puts bought the outlook for next week has swung a lot more positive. I was saying yesterday that an initial bottom might be in when we get a vol event. I think yesterday was close enough since that close vol event was caused by put buys.