By Matt Connor · SPCX Implied Volatility: IV Rank and History
SPCX implied volatility since its options first listed, plus the honest reason IV rank and IV percentile mean almost nothing on a listing this young.
SPCX implied volatility is the market's own estimate, priced into the option contracts themselves, of how far the stock is likely to travel between today and expiry. On this ticker that estimate arrives with a caveat most screeners hide: the listed option record is short, and every statistic that needs a year of history is running on a fraction of one. The panels below show every daily reading that exists and the honest version of the IV rank arithmetic sitting on top of it.
What is SPCX implied volatility today?
Implied volatility, IV, is quoted as an annualized percentage. A 60% IV means the option market is pricing a one standard deviation move of roughly 60% over a full year, which works out to about 17% over a single month (60 divided by the square root of 12). It is a price read out of the option chain, not a forecast of direction. The full walkthrough of that read lives in what implied volatility actually means, and the solver mechanics are in how implied volatility is calculated.
The series below builds the standard 30 day line. For each session it takes every SPCX contract that traded, struck within 5% of that day's closing stock price with 20 to 45 days left to run, then averages their implied volatility. Contracts whose IV solver did not converge are dropped.
The exact SQL behind every number
SELECT
toString(d) AS date,
iv_30d_pct,
contract_count,
concat(monthName(d), ' ', toString(toDayOfMonth(d)), ', ', toString(toYear(d))) AS date_label
FROM
(
SELECT
date AS d,
round(100 * avg(implied_volatility), 1) AS iv_30d_pct,
count() AS contract_count
FROM global_markets.options_greeks
WHERE underlying_symbol = 'SPCX'
AND date >= (
SELECT max(toDate(listing_date))
FROM global_markets.stocks_ipos
WHERE ticker = 'SPCX'
AND toDate(listing_date) <= today()
)
AND iv_converged = 1
AND volume > 0
AND underlying_close > 0
AND days_to_expiry BETWEEN 20 AND 45
AND abs(toFloat64(strike_price) / toFloat64(underlying_close) - 1) < 0.05
GROUP BY d
)
ORDER BY dThe record opens on June 16, 2026 at 111%. The most recent session in the data, August 19, 2026, prints 62.4% across 86 qualifying contracts. End to end the panel holds 45 daily readings. Keep that count in mind for the rest of this page: it is the entire population any SPCX volatility statistic can draw on.
How wide has the SPCX IV range been?
IV rank and IV percentile both need a range to sit inside. Rank measures where today's reading falls between the lowest and the highest IV of the past 52 weeks, on a 0 to 100 scale. Percentile counts the share of days in that same window that closed below today's reading. Neither number means much until the window is actually full. Month by month, this is the range SPCX has printed so far.
The exact SQL behind every number
SELECT
formatDateTime(toStartOfMonth(d), '%Y-%m') AS month,
round(100 * avg(iv), 1) AS iv_avg_pct,
round(100 * max(iv), 1) AS iv_high_pct,
round(100 * min(iv), 1) AS iv_low_pct,
round(100 * (max(iv) - min(iv)), 1) AS iv_range_pct,
count() AS session_count,
concat(monthName(d), ' ', toString(toYear(d))) AS month_label
FROM
(
SELECT
date AS d,
avg(implied_volatility) AS iv
FROM global_markets.options_greeks
WHERE underlying_symbol = 'SPCX'
AND date >= (
SELECT max(toDate(listing_date))
FROM global_markets.stocks_ipos
WHERE ticker = 'SPCX'
AND toDate(listing_date) <= today()
)
AND iv_converged = 1
AND volume > 0
AND underlying_close > 0
AND days_to_expiry BETWEEN 20 AND 45
AND abs(toFloat64(strike_price) / toFloat64(underlying_close) - 1) < 0.05
GROUP BY d
)
GROUP BY month, month_label
ORDER BY monthThe first month in the record, June 2026, averaged 84.3%, with 38.9 points separating its lowest daily reading from its highest. The most recent month, August 2026, averaged 79.8% over 13 sessions. The panel covers 3 calendar months.
Those months line up with a calendar we have already walked through. The opening rows sit over the stretch covered in SPCX's first month of trading, and the later rows run through the window around the SPCX lockup expiration, when the number of shares free to trade changed. Reading the monthly highs alongside those dates is a fair exercise. Reading a 52 week IV rank off the same rows is not.
Why SPCX IV rank and IV percentile are close to meaningless
Here is the arithmetic run identically for SPCX and four household names, same filter and same trailing 365 day request for all five. The only difference is how much of that window each name can actually fill.
The exact SQL behind every number
WITH daily_iv AS
(
SELECT
underlying_symbol AS symbol,
date,
avg(implied_volatility) AS iv
FROM global_markets.options_greeks
WHERE underlying_symbol IN ('SPCX', 'AAPL', 'AMZN', 'NVDA', 'SPY')
AND date >= today() - 365
AND (underlying_symbol != 'SPCX'
OR date >= (
SELECT max(toDate(listing_date))
FROM global_markets.stocks_ipos
WHERE ticker = 'SPCX'
AND toDate(listing_date) <= today()
))
AND iv_converged = 1
AND volume > 0
AND underlying_close > 0
AND days_to_expiry BETWEEN 20 AND 45
AND abs(toFloat64(strike_price) / toFloat64(underlying_close) - 1) < 0.05
GROUP BY symbol, date
)
SELECT
d.symbol AS symbol,
count() AS iv_observation_count,
round(100 * any(l.iv_last), 1) AS iv_now_pct,
round(100 * (any(l.iv_last) - min(d.iv)) / nullIf(max(d.iv) - min(d.iv), 0), 1) AS iv_rank_pct,
round(100 * countIf(d.iv <= l.iv_last) / count(), 1) AS iv_percentile_pct
FROM daily_iv AS d
INNER JOIN
(
SELECT
symbol,
argMax(iv, date) AS iv_last
FROM daily_iv
GROUP BY symbol
) AS l ON l.symbol = d.symbol
GROUP BY d.symbol
ORDER BY d.symbol = 'SPCX' DESC, iv_observation_count ASCSPCX contributes 45 daily observations to that window. NVDA contributes 250, the deepest history in the panel. Both names come out the other side with an IV rank and an IV percentile, and on a screener the two look equally solid. The SPCX reading of 62.4% converts to a rank of 0 and a percentile of 2.2.
Look at what those two numbers rest on. Rank divides by the distance between exactly two observations, the single lowest and the single highest reading in the window. On a name with a few months of data, one new extreme resets that denominator outright, and there is no older reading underneath to absorb it. Percentile is a little sturdier, since it counts every observation it has, though a percentile of 90 built from 60 days means something very different from a percentile of 90 built from 250. The difference between IV rank and IV percentile is worth knowing on any ticker. On this one it is the whole ballgame.
The practical version: treat both figures as descriptions of the short record above, rather than a verdict on whether options are cheap or expensive. That verdict needs a full cycle of history behind it. For comparison, the names on the highest implied volatility stocks screen carry years of readings underneath their percentiles.
What does the SPCX IV term structure look like?
Term structure is implied volatility plotted across time to expiry, from the front week out to the longest dated contracts. It is one statistic a short listing can still show honestly, since each day's curve is built entirely from that day's chain and needs no history at all.
The exact SQL behind every number
SELECT
multiIf(days_to_expiry <= 7, '0 to 7 days',
days_to_expiry <= 21, '8 to 21 days',
days_to_expiry <= 45, '22 to 45 days',
days_to_expiry <= 90, '46 to 90 days',
'91 or more days') AS dte_bucket,
round(100 * avg(implied_volatility), 1) AS iv_pct,
count() AS contract_count
FROM global_markets.options_greeks
WHERE underlying_symbol = 'SPCX'
AND date > (
SELECT max(date)
FROM global_markets.options_greeks
WHERE underlying_symbol = 'SPCX'
) - 21
AND date >= (
SELECT max(toDate(listing_date))
FROM global_markets.stocks_ipos
WHERE ticker = 'SPCX'
AND toDate(listing_date) <= today()
)
AND iv_converged = 1
AND volume > 0
AND underlying_close > 0
AND abs(toFloat64(strike_price) / toFloat64(underlying_close) - 1) < 0.05
GROUP BY dte_bucket
ORDER BY min(days_to_expiry)Over those three weeks, near the money contracts in the 0 to 7 days bucket averaged 113.5%, and the 91 or more days bucket averaged 71.3%. A curve that rises from front to back is the ordinary resting shape. A front end sitting above the back end is the shape that tends to appear when a dated event falls inside the near contract's life. Comparing the curve with the movement the stock actually delivered is a separate exercise, covered in historical volatility versus implied volatility.
FAQ
When did SPCX options start trading?
The first session where near the money contracts with 20 to 45 days to expiry both traded and produced a converged implied volatility is June 16, 2026. Contracts can be listed a little before they trade, so read that date as the start of the usable IV record rather than the exchange listing date itself.
What is a normal implied volatility for SPCX?
No number on this page can answer that yet. A normal range is defined by years of readings, and the record here holds 45 daily observations. The monthly panel shows the range printed so far, which is a record to date rather than a settled baseline.
Is the SPCX IV rank on my screener reliable?
It is arithmetically correct and practically thin. The rank shown above, 0, comes from 45 daily observations rather than a full 52 weeks, and a single new high or low moves it sharply. Screeners rarely print the sample size next to the rank.
How is the 30 day implied volatility on this page calculated?
Each day's figure averages the implied volatility of SPCX contracts that traded that session, struck within 5% of the closing stock price, with 20 to 45 days to expiry, keeping only contracts whose IV solver converged. The SQL beneath every panel shows the exact filter.
Data notes and ticker verification
SPCX is a reused symbol. The same four letters carried a different, since delisted product before the current listing, and that is the kind of gap that quietly corrupts a volatility history when nobody checks for it. Two receipts follow.
The exact SQL behind every number
SELECT
toString(toDate(listing_date)) AS listing_date,
issuer_name,
primary_exchange,
security_type,
ipo_status,
round(toFloat64(final_issue_price), 2) AS final_issue_price
FROM global_markets.stocks_ipos
WHERE ticker = 'SPCX'
ORDER BY toDate(listing_date)The row above names the issuer behind the symbol today and dates the current listing. Every implied volatility panel on this page filters to sessions on or after that date, so no pre reassignment data reaches any number quoted here. Where more than one row appears, the earlier one belongs to the earlier product.
The exact SQL behind every number
SELECT
formatDateTime(toStartOfMonth(date), '%Y-%m') AS month,
count() AS sessions_traded
FROM global_markets.stocks_daily_aggs
WHERE ticker = 'SPCX'
GROUP BY month
ORDER BY monthThat is a monthly count of the sessions the symbol printed at all. The gap between the two blocks of months is the reassignment itself. Months before the gap belong to the earlier product and are excluded from every calculation above.
Construction: implied volatility comes from the per contract daily greeks record, filtered to converged solutions on contracts that recorded volume. Near the money means a strike within 5% of the same day's closing stock price. The 30 day line uses 20 to 45 days to expiry. IV rank and IV percentile use a trailing 365 day request for all five symbols in the peer panel, which is what makes the observation counts directly comparable.
Every panel here ships with the SQL that produced it. Open one, swap the ticker, and run it yourself on the Strasmore terminal.