{"slug":"is-30-percent-iv-high","qid":"iv_by_month","label":"Monthly median 30-day implied volatility: index ETF, staple, and chipmaker","post_title":"Is 30% IV High? It Depends on the Ticker","post_url":"/blog/is-30-percent-iv-high#q-iv_by_month","columns":["month","month_label","spy_iv_pct","ko_iv_pct","nvda_iv_pct"],"rows":[{"month":"2024-08","month_label":"Aug 2024","spy_iv_pct":14.6,"ko_iv_pct":13.8,"nvda_iv_pct":68.4},{"month":"2024-09","month_label":"Sep 2024","spy_iv_pct":14.8,"ko_iv_pct":15.9,"nvda_iv_pct":50},{"month":"2024-10","month_label":"Oct 2024","spy_iv_pct":16.6,"ko_iv_pct":18.6,"nvda_iv_pct":54.4},{"month":"2024-11","month_label":"Nov 2024","spy_iv_pct":13.6,"ko_iv_pct":16.9,"nvda_iv_pct":53.2},{"month":"2024-12","month_label":"Dec 2024","spy_iv_pct":12.1,"ko_iv_pct":16.9,"nvda_iv_pct":41.3},{"month":"2025-01","month_label":"Jan 2025","spy_iv_pct":14.2,"ko_iv_pct":18.8,"nvda_iv_pct":44.2},{"month":"2025-02","month_label":"Feb 2025","spy_iv_pct":13.6,"ko_iv_pct":17.1,"nvda_iv_pct":60.2},{"month":"2025-03","month_label":"Mar 2025","spy_iv_pct":18.8,"ko_iv_pct":18.2,"nvda_iv_pct":50.9},{"month":"2025-04","month_label":"Apr 2025","spy_iv_pct":26.1,"ko_iv_pct":23.2,"nvda_iv_pct":56.4},{"month":"2025-05","month_label":"May 2025","spy_iv_pct":17.6,"ko_iv_pct":17.9,"nvda_iv_pct":51},{"month":"2025-06","month_label":"Jun 2025","spy_iv_pct":15.8,"ko_iv_pct":18.2,"nvda_iv_pct":35.7},{"month":"2025-07","month_label":"Jul 2025","spy_iv_pct":15,"ko_iv_pct":19.9,"nvda_iv_pct":36.3},{"month":"2025-08","month_label":"Aug 2025","spy_iv_pct":13.5,"ko_iv_pct":16.5,"nvda_iv_pct":44},{"month":"2025-09","month_label":"Sep 2025","spy_iv_pct":13.3,"ko_iv_pct":18.3,"nvda_iv_pct":35.2},{"month":"2025-10","month_label":"Oct 2025","spy_iv_pct":15.1,"ko_iv_pct":20,"nvda_iv_pct":45.7},{"month":"2025-11","month_label":"Nov 2025","spy_iv_pct":16.5,"ko_iv_pct":17,"nvda_iv_pct":49.1},{"month":"2025-12","month_label":"Dec 2025","spy_iv_pct":13.5,"ko_iv_pct":15.3,"nvda_iv_pct":37.7},{"month":"2026-01","month_label":"Jan 2026","spy_iv_pct":13.9,"ko_iv_pct":17.6,"nvda_iv_pct":38.5},{"month":"2026-02","month_label":"Feb 2026","spy_iv_pct":16.4,"ko_iv_pct":19.4,"nvda_iv_pct":48.7},{"month":"2026-03","month_label":"Mar 2026","spy_iv_pct":20.9,"ko_iv_pct":21.1,"nvda_iv_pct":40.5},{"month":"2026-04","month_label":"Apr 2026","spy_iv_pct":16.3,"ko_iv_pct":21.8,"nvda_iv_pct":37.3},{"month":"2026-05","month_label":"May 2026","spy_iv_pct":15.8,"ko_iv_pct":18.5,"nvda_iv_pct":44.4},{"month":"2026-06","month_label":"Jun 2026","spy_iv_pct":15.4,"ko_iv_pct":19.8,"nvda_iv_pct":38.2},{"month":"2026-07","month_label":"Jul 2026","spy_iv_pct":14.6,"ko_iv_pct":22.5,"nvda_iv_pct":41.6}],"shape":"series","sql":"WITH atm AS (\n    SELECT underlying_symbol AS symbol,\n           date,\n           avg(implied_volatility) * 100 AS iv_pct\n    FROM global_markets.options_greeks\n    WHERE underlying_symbol IN ('SPY', 'KO', 'NVDA')\n      AND date >= toDate('2024-08-01')\n      AND date <= toDate('2026-07-31')\n      AND iv_converged = 1\n      AND volume > 0\n      AND underlying_close > 0\n      AND days_to_expiry BETWEEN 20 AND 45\n      AND abs(toFloat64(strike_price) / toFloat64(underlying_close) - 1) < 0.05\n    GROUP BY symbol, date\n)\nSELECT formatDateTime(toStartOfMonth(date), '%Y-%m') AS month,\n       formatDateTimeInJodaSyntax(toStartOfMonth(date), 'MMM yyyy') AS month_label,\n       round(quantileDeterministicIf(0.5)(iv_pct, cityHash64(toString(date)), symbol = 'SPY'), 1) AS spy_iv_pct,\n       round(quantileDeterministicIf(0.5)(iv_pct, cityHash64(toString(date)), symbol = 'KO'), 1) AS ko_iv_pct,\n       round(quantileDeterministicIf(0.5)(iv_pct, cityHash64(toString(date)), symbol = 'NVDA'), 1) AS nvda_iv_pct\nFROM atm\nGROUP BY toStartOfMonth(date)\nHAVING countIf(symbol = 'SPY') > 0\n   AND countIf(symbol = 'KO') > 0\n   AND countIf(symbol = 'NVDA') > 0\nORDER BY toStartOfMonth(date)","computed_at":"2026-08-02T10:03:20.224186+00:00","elapsed":0.003658372}