{"slug":"one-clearinghouse-many-options-exchanges","qid":"iv_term","label":"Near the money AAPL implied volatility and vega by days to expiry","post_title":"One Clearinghouse, Many Options Exchanges","post_url":"/blog/one-clearinghouse-many-options-exchanges#q-iv_term","columns":["dte_bucket","iv_pct","avg_vega"],"rows":[{"dte_bucket":"0 to 7 days","iv_pct":27.7,"avg_vega":0.107},{"dte_bucket":"8 to 21 days","iv_pct":23.3,"avg_vega":0.208},{"dte_bucket":"22 to 45 days","iv_pct":24.8,"avg_vega":0.346},{"dte_bucket":"46 to 90 days","iv_pct":25.4,"avg_vega":0.535},{"dte_bucket":"91 or more days","iv_pct":27.7,"avg_vega":1.208}],"shape":"ranking","sql":"SELECT\n    multiIf(days_to_expiry <= 7,  '0 to 7 days',\n            days_to_expiry <= 21, '8 to 21 days',\n            days_to_expiry <= 45, '22 to 45 days',\n            days_to_expiry <= 90, '46 to 90 days',\n                                  '91 or more days') AS dte_bucket,\n    round(100 * avg(implied_volatility), 1)          AS iv_pct,\n    round(avg(vega), 3)                              AS avg_vega\nFROM global_markets.options_greeks\nWHERE underlying_symbol = 'AAPL'\n  AND date = (\n      SELECT max(date)\n      FROM global_markets.options_greeks\n      WHERE underlying_symbol = 'AAPL'\n        AND date <= '2026-09-30'\n  )\n  AND iv_converged = 1\n  AND volume > 0\n  AND abs(toFloat64(strike_price) / toFloat64(underlying_close) - 1) < 0.05\nGROUP BY dte_bucket\nHAVING count() >= 5\nORDER BY min(days_to_expiry)","computed_at":"2026-10-07T15:15:13.295055+00:00","elapsed":0.003348495}