IBM Feb. $165 Calls Show Top Implied Volatility Ahead of Big Move
The Feb. 20, 2026 $165 call on IBM set among the highest implied volatilities of all equity options, reflecting market bets on a large price swing or upcoming catalyst. Over the past 60 days, analysts lifted IBM’s current-quarter EPS forecast from $1.76 to $1.78, maintaining a Hold rating.
1. Unusual Options Activity
The Feb. 20, 2026 $165 call option on IBM registered one of the highest implied volatilities across equity options, pointing to heightened trader expectations of a sizable share-price swing or imminent corporate catalyst.
2. Analyst Estimate Revisions
Over the last 60 days, three analysts raised IBM’s current-quarter EPS forecasts from $1.76 to $1.78 while one analyst lowered estimate, resulting in a consensus of $1.78 and a Zacks Rank #3 (Hold).
3. Premium Selling Strategies
Seasoned options traders often target high-volatility contracts to sell premium and capture time decay, betting that IBM’s actual price movement will fall short of market expectations by expiration.