IV Rank & IV Percentile
IV Rank measures where a symbol’s current implied volatility sits between its lowest and highest readings over a trailing window — a 0 to 100 score. A high IV Rank means options are relatively expensive versus their own history, while a low IV Rank means they are relatively cheap. IV Percentile complements this by showing the share of days over the lookback that traded at a lower IV than today.
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Volatility is mean-reverting, so these readings drive strategy selection: elevated IV Rank favors premium-selling structures (credit spreads, iron condors, covered calls) that profit as volatility falls, while depressed IV Rank favors premium-buying structures (long options, debit spreads, calendars) that benefit from a volatility expansion. The chart plots the constant-maturity at-the-money IV over time with the trailing high/low band so you can see the regime at a glance.
Frequently asked questions
What is the difference between IV Rank and IV Percentile?
IV Rank scales current IV linearly between the lookback low and high, so a single spike can compress the rest of the range. IV Percentile counts the fraction of days that traded below the current IV, so it is less sensitive to outliers. Traders often read both together.
What IV Rank is considered high?
A common convention treats IV Rank above 50 as elevated and above 70 as high, favoring premium-selling. Below 25 is considered low, favoring premium-buying. These are guidelines, not hard rules — always account for upcoming catalysts like earnings.
Which IV does this page track?
It tracks a roughly 30-day constant-maturity at-the-money implied volatility built from end-of-day option greeks, giving a consistent daily series that is comparable across time regardless of which specific expirations are listed.
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