{"slug":"hawkish-vs-dovish-meaning","qid":"fomc_iv","label":"fomc_iv","post_title":"hawkish-vs-dovish-meaning","post_url":"/blog/lang/ms/hawkish-vs-dovish-meaning#q-fomc_iv","columns":["meeting_date","meeting_label","iv_before_pct","iv_decision_pct","iv_after_pct"],"rows":[{"meeting_date":"2024-09-18","meeting_label":"18 Sep 2024","iv_before_pct":14.8,"iv_decision_pct":14.8,"iv_after_pct":14.3},{"meeting_date":"2024-11-07","meeting_label":"7 Nov 2024","iv_before_pct":14.4,"iv_decision_pct":13.6,"iv_after_pct":13.5},{"meeting_date":"2024-12-18","meeting_label":"18 Dis 2024","iv_before_pct":12.9,"iv_decision_pct":18.1,"iv_after_pct":17.1},{"meeting_date":"2025-01-29","meeting_label":"29 Jan 2025","iv_before_pct":14.3,"iv_decision_pct":14,"iv_after_pct":13.4},{"meeting_date":"2025-03-19","meeting_label":"19 Mac 2025","iv_before_pct":19.3,"iv_decision_pct":17.6,"iv_after_pct":17.7},{"meeting_date":"2025-05-07","meeting_label":"7 Mei 2025","iv_before_pct":20.7,"iv_decision_pct":20.8,"iv_after_pct":20.7},{"meeting_date":"2025-06-18","meeting_label":"18 Jun 2025","iv_before_pct":17.7,"iv_decision_pct":16.9,"iv_after_pct":17},{"meeting_date":"2025-07-30","meeting_label":"30 Jul 2025","iv_before_pct":14.3,"iv_decision_pct":13.9,"iv_after_pct":15},{"meeting_date":"2025-09-17","meeting_label":"17 Sep 2025","iv_before_pct":13.6,"iv_decision_pct":13,"iv_after_pct":12.9},{"meeting_date":"2025-10-29","meeting_label":"29 Okt 2025","iv_before_pct":14.9,"iv_decision_pct":15.5,"iv_after_pct":14.9},{"meeting_date":"2025-12-10","meeting_label":"10 Dis 2025","iv_before_pct":14.5,"iv_decision_pct":13.6,"iv_after_pct":12.8},{"meeting_date":"2026-01-28","meeting_label":"28 Jan 2026","iv_before_pct":14,"iv_decision_pct":14.6,"iv_after_pct":14.6},{"meeting_date":"2026-03-18","meeting_label":"18 Mac 2026","iv_before_pct":18.7,"iv_decision_pct":20.7,"iv_after_pct":20.5},{"meeting_date":"2026-04-29","meeting_label":"29 Apr 2026","iv_before_pct":16,"iv_decision_pct":15.7,"iv_after_pct":15.2},{"meeting_date":"2026-06-17","meeting_label":"17 Jun 2026","iv_before_pct":14.2,"iv_decision_pct":15.2,"iv_after_pct":14.6},{"meeting_date":"2026-07-29","meeting_label":"29 Jul 2026","iv_before_pct":15.1,"iv_decision_pct":17.1,"iv_after_pct":14.6},{"meeting_date":"2026-09-16","meeting_label":"16 Sep 2026","iv_before_pct":14.4,"iv_decision_pct":14.5,"iv_after_pct":13.2}],"shape":"series","sql":"SELECT\n    toString(date)                                                     AS meeting_date,\n    concat(toString(toDayOfMonth(date)), ' ',\n           arrayElement(['Jan','Feb','Mac','Apr','Mei','Jun','Jul','Ogos','Sep','Okt','Nov','Dis'], toMonth(date)), ' ',\n           toString(toYear(date)))                                     AS meeting_label,\n    round(iv_prev, 1)                                                  AS iv_before_pct,\n    round(iv_day, 1)                                                   AS iv_decision_pct,\n    round(iv_next, 1)                                                  AS iv_after_pct\nFROM\n(\n    SELECT\n        date,\n        iv_day,\n        any(iv_day) OVER (ORDER BY date ASC ROWS BETWEEN 1 PRECEDING AND 1 PRECEDING) AS iv_prev,\n        any(iv_day) OVER (ORDER BY date ASC ROWS BETWEEN 1 FOLLOWING AND 1 FOLLOWING) AS iv_next\n    FROM\n    (\n        SELECT\n            date,\n            avg(implied_volatility) * 100 AS iv_day\n        FROM global_markets.options_greeks\n        WHERE underlying_symbol = 'SPY'\n          AND date >= '2024-08-01'\n          AND iv_converged = 1\n          AND volume > 0\n          AND days_to_expiry BETWEEN 20 AND 45\n          AND toFloat64(underlying_close) > 0\n          AND abs(toFloat64(strike_price) / toFloat64(underlying_close) - 1) < 0.05\n        GROUP BY date\n    )\n)\nWHERE date IN ('2024-09-18','2024-11-07','2024-12-18','2025-01-29','2025-03-19',\n               '2025-05-07','2025-06-18','2025-07-30','2025-09-17','2025-10-29',\n               '2025-12-10','2026-01-28','2026-03-18','2026-04-29','2026-06-17',\n               '2026-07-29','2026-09-16')\n  AND iv_prev > 0\n  AND iv_next > 0\nORDER BY date ASC","computed_at":"2026-09-23T14:55:16.807996+00:00","elapsed":0.004171847}