term_column
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 2026-10-02, from implied-volatility-heatmap.
| tenor | median_iv_pct | contracts |
|---|---|---|
| 1-7 days | 29.6 | 1376 |
| 8-20 days | 25.8 | 1729 |
| 21-45 days | 24.6 | 953 |
| 46-90 days | 26.2 | 426 |
| 91-180 days | 26.7 | 757 |
| 181-365 days | 27.1 | 717 |
- Rows × columns
- 6 × 3
- 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 |
|---|---|---|---|
tenor |
text | 6 distinct values (1-7 days, 181-365 days, 21-45 days…) | |
median_iv_pct |
number | 24.6 to 29.6 | percent |
contracts |
number | 426 to 1,729 | count |
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
tenor,
round(100 * quantileDeterministic(iv, det), 1) AS median_iv_pct,
count() AS contracts
FROM
(
SELECT
toFloat64(implied_volatility) AS iv,
cityHash64(ticker) AS det,
days_to_expiry,
multiIf(days_to_expiry <= 7, '1-7 days',
days_to_expiry <= 20, '8-20 days',
days_to_expiry <= 45, '21-45 days',
days_to_expiry <= 90, '46-90 days',
days_to_expiry <= 180, '91-180 days',
'181-365 days') AS tenor
FROM global_markets.options_greeks
WHERE underlying_symbol = 'AAPL'
AND date BETWEEN '2026-06-01' AND '2026-06-30'
AND iv_converged = 1
AND volume > 0
AND days_to_expiry BETWEEN 1 AND 365
AND abs(toFloat64(strike_price) / toFloat64(underlying_close) - 1) < 0.05
)
GROUP BY tenor
ORDER BY min(days_to_expiry)
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