SPY Implied Volatility
SPY $765.37 · Updated Oct 26, 4:00 PM ET
SPY at-the-money implied volatility is 12.1% for Oct 27, 2026 (1 day out). For Nov 27, 2026 it is 14.7%. Longer-dated volatility is priced at or above near-term volatility, the normal upward-sloping term structure.
TERM STRUCTURE (ATM IV)
| Expiration | DTE | ATM strike | ATM IV |
|---|---|---|---|
| Oct 27, 2026 | 1 | 765 | 12.1% |
| Oct 28, 2026 | 2 | 765 | 15.8% |
| Oct 29, 2026 | 3 | 765 | 16.4% |
| Oct 30, 2026 | 4 | 765 | 16.6% |
| Nov 2, 2026 | 7 | 765 | 14.1% |
| Nov 3, 2026 | 8 | 765 | 14.3% |
| Nov 4, 2026 | 9 | 765 | 15.0% |
| Nov 5, 2026 | 10 | 765 | 15.0% |
| Nov 6, 2026 | 11 | 765 | 15.4% |
| Nov 13, 2026 | 18 | 765 | 15.0% |
| Nov 20, 2026 | 25 | 765 | 15.0% |
| Nov 27, 2026 | 32 | 765 | 14.7% |
SKEW, OCT 27, 2026
| Strike | Call IV | Put IV |
|---|---|---|
| 757 | 13.5% | 14.7% |
| 758 | 13.0% | 14.4% |
| 759 | 12.9% | 14.0% |
| 760 | 12.8% | 13.7% |
| 761 | 12.6% | 13.4% |
| 762 | 12.2% | 13.2% |
| 763 | 12.3% | 13.0% |
| 764 | 12.0% | 12.7% |
| 765 | 11.7% | 12.5% |
| 766 | 11.6% | 12.4% |
| 767 | 11.4% | 12.2% |
| 768 | 11.2% | 12.2% |
| 769 | 11.1% | 12.3% |
| 770 | 11.0% | 12.5% |
| 771 | 11.1% | 13.6% |
| 772 | 11.2% | 14.4% |
| 773 | 11.3% | 15.6% |
How this is calculated: Implied Volatility methodology