IV rank

IV rank measures where a stock's current implied volatility sits relative to its 52-week high and low. It's expressed as a score from 0 to 100.

Formula: IV Rank = (Current IV − 52-week low) / (52-week high − 52-week low) × 100

A score of 0 means IV is at its lowest point of the year. A score of 100 means it's at its highest. A score of 50 sits exactly in the middle.

Why it matters: IV rank tells you whether options are cheap or expensive relative to recent history for that specific ticker. High IV rank (above 50) signals elevated premium, favorable for selling strategies. Low IV rank (below 30) signals cheap premium, favorable for buying strategies.

Example: AAPL's IV ranges from 18% (low) to 60% (high) over the past year. Current IV is 46%. IV rank = (46 − 18) / (60 − 18) × 100 = 67, options are relatively expensive.

IV rank vs IV percentile: IV rank compares to the annual range. IV percentile counts the percentage of days IV was lower than today. Both tell a similar story but IV percentile is less sensitive to outlier spikes.

Related terms: IV percentile, implied volatility, IV crush, Vega

Try it on Stryke: See live IV rank for every ticker in the Options Screener.