{"slug":"what-is-implied-volatility","qid":"iv_term","label":"SPY at-the-money IV by time to expiry: the term structure (2026-07-13)","post_title":"What Is Implied Volatility? IV, Explained","post_url":"/blog/what-is-implied-volatility#q-iv_term","columns":["time_to_expiry","atm_iv_pct"],"rows":[{"time_to_expiry":"0-7 days","atm_iv_pct":14.7},{"time_to_expiry":"8-30 days","atm_iv_pct":13.5},{"time_to_expiry":"31-90 days","atm_iv_pct":14.5},{"time_to_expiry":"90+ days","atm_iv_pct":17}],"shape":"ranking","sql":"SELECT multiIf(days_to_expiry<=7,'0-7 days',days_to_expiry<=30,'8-30 days',\n               days_to_expiry<=90,'31-90 days','90+ days') AS time_to_expiry,\n       round(avg(implied_volatility) * 100, 1) AS atm_iv_pct\nFROM global_markets.options_greeks\nWHERE date = '2026-07-13' AND underlying_symbol = 'SPY' AND abs(delta) BETWEEN 0.45 AND 0.55\nGROUP BY time_to_expiry ORDER BY min(days_to_expiry)","computed_at":"2026-08-13T14:44:46.824748+00:00","elapsed":0.001818041}