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NVDA term structure either side of the February 26, 2025 report: median near-the-money IV by expiry band

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 2026-08-04, from IV Term Structure: What the Curve Tells You.

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NVDA term structure either side of the February 26, 2025 report: median near-the-money IV by expiry band — 5 rows by 4 columns, computed from US exchange, SIP and OPRA data.
expiry_bandiv_before_print_pctiv_after_print_pctiv_drop_pts
5-20 days84.966.418.5
21-45 days67.35611.3
46-90 days56.253.42.8
91-180 days52.8502.8
181-365 days50491
Rows × columns
5 × 4
Computed
Completeness
No missing values
Source
US exchange, SIP and OPRA market data
Licence
Strasmore terms · free, no signup
Formats
JSON · CSV · the SQL below

What each column holds

Column definitions for NVDA term structure either side of the February 26, 2025 report: median near-the-money IV by expiry band, derived from the stored result.
ColumnTypeRangeNotes
expiry_band text 5 distinct values (181-365 days, 21-45 days, 46-90 days…)
iv_before_print_pct number 50 to 84.9 percent
iv_after_print_pct number 49 to 66.4 percent
iv_drop_pts number 1 to 18.5 ratio or rate

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.

the exact SQL behind every number 
SELECT multiIf(days_to_expiry <= 20, '5-20 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 expiry_band,
       round(100 * quantileDeterministicIf(0.5)(toFloat64(implied_volatility), cityHash64(ticker),
                                                toDate(date) = toDate('2025-02-25')), 1) AS iv_before_print_pct,
       round(100 * quantileDeterministicIf(0.5)(toFloat64(implied_volatility), cityHash64(ticker),
                                                toDate(date) = toDate('2025-02-27')), 1) AS iv_after_print_pct,
       round(100 * (quantileDeterministicIf(0.5)(toFloat64(implied_volatility), cityHash64(ticker),
                                                 toDate(date) = toDate('2025-02-25'))
                  - quantileDeterministicIf(0.5)(toFloat64(implied_volatility), cityHash64(ticker),
                                                 toDate(date) = toDate('2025-02-27'))), 1) AS iv_drop_pts
FROM global_markets.options_greeks
WHERE underlying_symbol = 'NVDA'
  AND date >= toDate('2025-02-25')
  AND date < toDate('2025-02-28')
  AND iv_converged = 1
  AND volume > 0
  AND implied_volatility BETWEEN 0.05 AND 5
  AND abs(toFloat64(delta)) BETWEEN 0.35 AND 0.65
  AND days_to_expiry BETWEEN 5 AND 365
GROUP BY expiry_band
HAVING countIf(toDate(date) = toDate('2025-02-25')) >= 3
   AND countIf(toDate(date) = toDate('2025-02-27')) >= 3
ORDER BY min(days_to_expiry)

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