{"slug":"how-options-are-quoted-in-volatility","qid":"vol_vs_dollars","label":"One AAPL call: stock, premium and quoted vol, indexed to its first session","post_title":"How Options Are Quoted in Volatility","post_url":"/blog/how-options-are-quoted-in-volatility#q-vol_vs_dollars","columns":["session_date","session_label","stock_change_pct","call_premium_change_pct","quoted_vol_change_pct"],"rows":[{"session_date":"2026-04-06","session_label":"Apr 6","stock_change_pct":0,"call_premium_change_pct":0,"quoted_vol_change_pct":0},{"session_date":"2026-04-07","session_label":"Apr 7","stock_change_pct":0.47,"call_premium_change_pct":-27.66,"quoted_vol_change_pct":-12.4},{"session_date":"2026-04-08","session_label":"Apr 8","stock_change_pct":0.29,"call_premium_change_pct":-10.33,"quoted_vol_change_pct":-4.26},{"session_date":"2026-04-09","session_label":"Apr 9","stock_change_pct":0.81,"call_premium_change_pct":0.3,"quoted_vol_change_pct":-2.55},{"session_date":"2026-04-10","session_label":"Apr 10","stock_change_pct":1.2,"call_premium_change_pct":-11.55,"quoted_vol_change_pct":-8.47},{"session_date":"2026-04-13","session_label":"Apr 13","stock_change_pct":0.53,"call_premium_change_pct":-18.84,"quoted_vol_change_pct":-6.13},{"session_date":"2026-04-14","session_label":"Apr 14","stock_change_pct":0.27,"call_premium_change_pct":-14.29,"quoted_vol_change_pct":-2.38},{"session_date":"2026-04-15","session_label":"Apr 15","stock_change_pct":3.49,"call_premium_change_pct":42.86,"quoted_vol_change_pct":-0.57},{"session_date":"2026-04-16","session_label":"Apr 16","stock_change_pct":2.39,"call_premium_change_pct":20.06,"quoted_vol_change_pct":-0.72},{"session_date":"2026-04-17","session_label":"Apr 17","stock_change_pct":4.98,"call_premium_change_pct":65.35,"quoted_vol_change_pct":-2},{"session_date":"2026-04-20","session_label":"Apr 20","stock_change_pct":5.29,"call_premium_change_pct":82.98,"quoted_vol_change_pct":2.92},{"session_date":"2026-04-21","session_label":"Apr 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30","stock_change_pct":7.17,"call_premium_change_pct":51.98,"quoted_vol_change_pct":-12.64},{"session_date":"2026-05-01","session_label":"May 1","stock_change_pct":8.6,"call_premium_change_pct":99.09,"quoted_vol_change_pct":-8.94},{"session_date":"2026-05-04","session_label":"May 4","stock_change_pct":7.19,"call_premium_change_pct":59.88,"quoted_vol_change_pct":-7.77},{"session_date":"2026-05-05","session_label":"May 5","stock_change_pct":9.5,"call_premium_change_pct":141.95,"quoted_vol_change_pct":-1.54},{"session_date":"2026-05-06","session_label":"May 6","stock_change_pct":11.47,"call_premium_change_pct":191.79,"quoted_vol_change_pct":-4.84},{"session_date":"2026-05-07","session_label":"May 7","stock_change_pct":11.66,"call_premium_change_pct":173.56,"quoted_vol_change_pct":-10.67},{"session_date":"2026-05-08","session_label":"May 8","stock_change_pct":13.94,"call_premium_change_pct":261.09,"quoted_vol_change_pct":-10.01},{"session_date":"2026-05-11","session_label":"May 11","stock_change_pct":13.42,"call_premium_change_pct":254.71,"quoted_vol_change_pct":-3.65},{"session_date":"2026-05-12","session_label":"May 12","stock_change_pct":14.19,"call_premium_change_pct":286.93,"quoted_vol_change_pct":-2.7},{"session_date":"2026-05-13","session_label":"May 13","stock_change_pct":15.7,"call_premium_change_pct":371.12,"quoted_vol_change_pct":2.82},{"session_date":"2026-05-14","session_label":"May 14","stock_change_pct":15.51,"call_premium_change_pct":342.86,"quoted_vol_change_pct":-1.59},{"session_date":"2026-05-15","session_label":"May 15","stock_change_pct":16.26,"call_premium_change_pct":374.77,"quoted_vol_change_pct":-1.54}],"shape":"series","sql":"WITH\n(\n    SELECT ticker\n    FROM global_markets.options_greeks\n    WHERE underlying_symbol = 'AAPL'\n      AND toFloat64(delta) > 0\n      AND date BETWEEN '2026-04-06' AND '2026-05-15'\n      AND expiration_date BETWEEN '2026-06-15' AND '2026-09-30'\n      AND iv_converged = 1\n      AND volume > 0\n      AND abs(toFloat64(strike_price) / toFloat64(underlying_close) - 1) < 0.03\n    GROUP BY ticker\n    ORDER BY sum(volume) DESC\n    LIMIT 1\n) AS traced_call\nSELECT\n    toString(date)                     AS session_date,\n    formatDateTime(date, '%b %e')      AS session_label,\n    round(100 * (toFloat64(underlying_close)\n        / first_value(toFloat64(underlying_close)) OVER (ORDER BY date ASC) - 1), 2)   AS stock_change_pct,\n    round(100 * (toFloat64(option_close)\n        / first_value(toFloat64(option_close)) OVER (ORDER BY date ASC) - 1), 2)       AS call_premium_change_pct,\n    round(100 * (toFloat64(implied_volatility)\n        / first_value(toFloat64(implied_volatility)) OVER (ORDER BY date ASC) - 1), 2) AS quoted_vol_change_pct\nFROM global_markets.options_greeks\nWHERE ticker = traced_call\n  AND date BETWEEN '2026-04-06' AND '2026-05-15'\n  AND iv_converged = 1\n  AND option_close > 0\n  AND implied_volatility > 0\nORDER BY session_date ASC","computed_at":"2026-08-17T14:04:12.287875+00:00","elapsed":0.003521544}