Learn · options market structure
What is IV rank?
IV rank shows where a stock's current implied volatility sits within its own range over a lookback period, usually one year: 0 means the lowest IV of the period and 100 the highest. It tells you whether options are cheap or expensive relative to that stock's history, not relative to other stocks.
The formula
IV rank = (current IV − lowest IV) ÷ (highest IV − lowest IV) × 100 over the lookback window.
IV rank versus IV percentile
IV percentile is the share of days in the window when IV was lower than today. The two differ when one extreme day stretches the range.
How GammaPulse shows it
IV rank needs at least 20 sessions of recorded IV before it is shown; until then the page says how many sessions it has.
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Education and market data, not investment advice. GammaPulse does not publish a track record or performance claims.