AAPL implied volatility by strike distance, downside puts vs upside calls (May to July 2026)
Answered against 22 years of US equities and 12 years of US options data and published with the query that produced it. This result is stored as of 2026-08-18, from Collar Option Greeks as the Stock Moves.
| strike_distance | downside_put_iv_pct | upside_call_iv_pct | put_minus_call_pts |
|---|---|---|---|
| 2.5% out | 26.1 | 26 | 0.1 |
| 5% out | 27.1 | 25.8 | 1.3 |
| 7.5% out | 28.5 | 25.6 | 2.9 |
| 10% out | 30.3 | 26 | 4.3 |
| 12.5% out | 32.4 | 26.4 | 6 |
| 15% out | 34.5 | 26.7 | 7.8 |
- Rows × columns
- 6 × 4
- Computed
- Completeness
- No missing values
- Source
- US exchange, SIP and OPRA market data
- Licence
- Strasmore terms · free, no signup
What each column holds
| Column | Type | Range | Notes |
|---|---|---|---|
strike_distance |
text | 6 distinct values (10% out, 12.5% out, 15% out…) | |
downside_put_iv_pct |
number | 26.1 to 34.5 | percent |
upside_call_iv_pct |
number | 25.6 to 26.7 | percent |
put_minus_call_pts |
number | 0.1 to 7.8 |
Computed from Strasmore's warehouse of US exchange, SIP and OPRA market data. Equity prices are delayed; options greeks and implied volatility are end-of-day. This result is stored, not recomputed on load — it is exactly the numbers that were returned on , and the query below is what returned them.
Run it yourself
This is the exact query behind the result above. Change a ticker, a date or a column and run it against the warehouse — no account, no key. The no-signup tier is smaller than the one this page was computed on; a query that reaches past it comes back saying which plan runs it.
SELECT
concat(toString(distance_pct), '% out') AS strike_distance,
round(100 * avgIf(implied_volatility, below_spot AND put_leg), 1) AS downside_put_iv_pct,
round(100 * avgIf(implied_volatility, above_spot AND call_leg), 1) AS upside_call_iv_pct,
round(100 * (avgIf(implied_volatility, below_spot AND put_leg)
- avgIf(implied_volatility, above_spot AND call_leg)), 1) AS put_minus_call_pts
FROM
(
SELECT
implied_volatility,
round(abs(toFloat64(strike_price) / toFloat64(underlying_close) - 1) * 100 / 2.5) * 2.5 AS distance_pct,
toFloat64(strike_price) < toFloat64(underlying_close) AS below_spot,
toFloat64(strike_price) > toFloat64(underlying_close) AS above_spot,
delta < 0 AS put_leg,
delta > 0 AS call_leg
FROM global_markets.options_greeks
WHERE underlying_symbol = 'AAPL'
AND date >= '2026-05-01'
AND date < '2026-08-01'
AND iv_converged = 1
AND volume > 0
AND days_to_expiry BETWEEN 20 AND 45
AND abs(toFloat64(strike_price) / toFloat64(underlying_close) - 1) BETWEEN 0.015 AND 0.16
)
GROUP BY distance_pct
HAVING countIf(below_spot AND put_leg) > 50
AND countIf(above_spot AND call_leg) > 50
ORDER BY distance_pct
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