{"slug":"broken-wing-butterfly-explained","qid":"curva_iv","label":"curva_iv","post_title":"broken-wing-butterfly-explained","post_url":"/blog/lang/pt/broken-wing-butterfly-explained#q-curva_iv","columns":["vencimento","strike_usd","iv_pct","delta"],"rows":[{"vencimento":"17/07/2026","strike_usd":260,"iv_pct":27.3,"delta":0.925},{"vencimento":"17/07/2026","strike_usd":265,"iv_pct":28.2,"delta":0.881},{"vencimento":"17/07/2026","strike_usd":270,"iv_pct":21.9,"delta":0.888},{"vencimento":"17/07/2026","strike_usd":275,"iv_pct":23.2,"delta":0.815},{"vencimento":"17/07/2026","strike_usd":280,"iv_pct":23.5,"delta":0.739},{"vencimento":"17/07/2026","strike_usd":285,"iv_pct":23,"delta":0.657},{"vencimento":"17/07/2026","strike_usd":290,"iv_pct":22.2,"delta":0.565},{"vencimento":"17/07/2026","strike_usd":295,"iv_pct":21.7,"delta":0.465},{"vencimento":"17/07/2026","strike_usd":300,"iv_pct":21.5,"delta":0.366},{"vencimento":"17/07/2026","strike_usd":305,"iv_pct":21.3,"delta":0.275},{"vencimento":"17/07/2026","strike_usd":310,"iv_pct":21.3,"delta":0.2},{"vencimento":"17/07/2026","strike_usd":315,"iv_pct":21.6,"delta":0.142},{"vencimento":"17/07/2026","strike_usd":320,"iv_pct":21.8,"delta":0.098},{"vencimento":"17/07/2026","strike_usd":325,"iv_pct":22.2,"delta":0.068}],"shape":"ranking","sql":"WITH\n    venc AS (\n        SELECT expiration_date AS exp\n        FROM global_markets.options_greeks\n        WHERE underlying_symbol = 'AAPL'\n          AND date = '2026-06-12'\n          AND iv_converged = 1\n          AND volume > 0\n          AND days_to_expiry BETWEEN 20 AND 75\n        GROUP BY expiration_date\n        ORDER BY sum(volume) DESC\n        LIMIT 1\n    ),\n    marks AS (\n        SELECT\n            toFloat64(strike_price)          AS strike,\n            avg(implied_volatility)          AS iv,\n            avg(delta)                       AS dl,\n            avg(toFloat64(underlying_close)) AS spot,\n            max(expiration_date)             AS venc_date\n        FROM global_markets.options_greeks\n        WHERE underlying_symbol = 'AAPL'\n          AND date = '2026-06-12'\n          AND expiration_date IN (SELECT exp FROM venc)\n          AND lower(toString(option_type)) IN ('call', 'c')\n          AND iv_converged = 1\n          AND volume > 0\n        GROUP BY strike\n    )\nSELECT\n    formatDateTime(toDate(venc_date), '%d/%m/%Y') AS vencimento,\n    round(strike, 2)   AS strike_usd,\n    round(iv * 100, 1) AS iv_pct,\n    round(dl, 3)       AS delta\nFROM marks\nWHERE modulo(toUInt32(round(strike * 100)), 500) = 0\n  AND abs(strike / spot - 1) < 0.12\nORDER BY strike","computed_at":"2026-09-25T15:23:13.593728+00:00","elapsed":0.004227476}