Excited states of the odd-odd nucleus 122 I are investigated via the fusion-evaporation reaction 116 Cd( 11 B,5n) at a beam energy of 68 MeV. The two most strongly populated bands in 122 I are observed up to excitation energies around 10.5 MeV. Their possible configurations at lower spins are assigned to 𝜋ℎ 11/2 ⊗ 𝜈ℎ 11/2 and 𝜋ℎ 11/2 ⊗ 𝜈𝑑 5/2 based on the observed population, B(M1)/B(E2) values, alignments and signature splitting. E1 transitions are observed connecting the 𝜋ℎ 11/2 ⊗ 𝜈𝑑 5/2 band to the 𝜋ℎ 11/2 ⊗ 𝜈ℎ 11/2 band, which may be evidence of octupole collectivity. Band terminations caused by the full alignment of the valence nucleons outside the 114 Sn core are observed in both bands.