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CAVA options analytics

CAVA · Stock

Data as of 25 September 2026 (end of day)

CAVA options are pricing a 30-day at-the-money volatility of 52.0%, a move of about ±14.9% over the next month. Its history here is 8 sessions, short of the 180 a percentile needs, so this reading is not yet ranked against its own past.

Its 25-delta puts carry 3.82 volatility points more than the calls.

Longer-dated options carry more: 90-day volatility is 12% above 30-day.

Its next earnings report is 2026-11-03 (estimated from its reporting cadence).

Current readings

30-day ATM implied volatilityⓘ
52.03%

Prices a move of about ±14.9% over 30 days, or ±3.3% on a typical day.

25-delta risk reversalⓘ
+3.82

Puts carry 3.82 volatility points more than calls the same distance from the money.

25-delta butterflyⓘ
+2.08

The wings carry 2.08 volatility points more than at-the-money.

Term structure slopeⓘ
1.124

90-day volatility is 12% above 30-day.

Where 30-day implied volatility sits

Against 8 prior sessions (one-year window)

Not enough history in this window to place the current reading.

IV percentile, 1 year
—
IV rank, 1 year
—
IV percentile, 2 years
—
IV rank, 2 years
—

Rank is the position between the lowest and highest readings in the window, so a single past extreme pins everything after it near one end. Percentile is the share of sessions below the current reading and is unaffected by how far that extreme reached. Both are withheld when the window holds fewer than 180 sessions.

Session detail

Underlying close
$51.58
30-day implied forward
$52.77
60-day ATM IV
62.44%
90-day ATM IV
58.46%
180-day ATM IV
59.32%
Expirations used
8
Total open interest
86,690
Put / call open interest
1.71

The forward is derived from put-call parity on the strikes nearest the money, not taken from the underlying close. It is what every moneyness and delta on this page is measured against.

30-day at-the-money implied volatility

Last 8 sessions

50%52%54%56%58%2026-09-16 — 30-day ATM IV 56%2026-09-17 — 30-day ATM IV 54%2026-09-18 — 30-day ATM IV 51%2026-09-21 — 30-day ATM IV 54%2026-09-22 — 30-day ATM IV 53%2026-09-23 — 30-day ATM IV 53%2026-09-24 — 30-day ATM IV 52%2026-09-25 — 30-day ATM IV 52%16 Sep18 Sep22 Sep23 Sep25 Sep
Show the underlying numbers (most recent 8)
Session30-day ATM IV25-delta RRTerm slopeClose
2026-09-2552.03%+3.821.124$51.58
2026-09-2452.10%+1.231.156$53.51
2026-09-2352.62%-0.911.164$53.10
2026-09-2252.52%+1.021.150$52.66
2026-09-2154.05%-0.121.122$52.00
2026-09-1851.31%+1.651.199$51.64
2026-09-1753.85%+2.281.143$51.21
2026-09-1656.31%+2.371.118$49.76

The chart covers every session in the archive, 8 in total. The table lists the most recent 8.

25-delta risk reversal

Last 8 sessions

-2.00.02.04.06.02026-09-16 — 25-delta RR (volatility points) 2.42026-09-17 — 25-delta RR (volatility points) 2.32026-09-18 — 25-delta RR (volatility points) 1.72026-09-21 — 25-delta RR (volatility points) -0.12026-09-22 — 25-delta RR (volatility points) 1.02026-09-23 — 25-delta RR (volatility points) -0.92026-09-24 — 25-delta RR (volatility points) 1.22026-09-25 — 25-delta RR (volatility points) 3.816 Sep18 Sep22 Sep23 Sep25 Sep

The dashed line marks zero, where the 25-delta put and call carry the same implied volatility.

Skew curve

Implied volatility by delta, front expirations

Implied volatility by delta

21d (2026-10-16) · 35d (2026-10-30) · 56d (2026-11-20)

45%50%55%60%65%70%2026-10-16 (21d) — 5Δ C — IV 53.01%2026-10-16 (21d) — 10Δ C — IV 52.24%2026-10-16 (21d) — 15Δ C — IV 53.54%2026-10-16 (21d) — 20Δ C — IV 53.24%2026-10-16 (21d) — 25Δ C — IV 51.52%2026-10-16 (21d) — 30Δ C — IV 50.36%2026-10-16 (21d) — 35Δ C — IV 49.22%2026-10-16 (21d) — 40Δ C — IV 50.59%2026-10-16 (21d) — 45Δ C — IV 54.30%2026-10-16 (21d) — ATM — IV 47.39%2026-10-16 (21d) — 45Δ P — IV 55.46%2026-10-16 (21d) — 40Δ P — IV 55.85%2026-10-16 (21d) — 35Δ P — IV 54.87%2026-10-16 (21d) — 30Δ P — IV 54.75%2026-10-16 (21d) — 25Δ P — IV 54.89%2026-10-16 (21d) — 20Δ P — IV 54.28%21d2026-10-30 (35d) — 25Δ C — IV 52.42%2026-10-30 (35d) — 30Δ C — IV 53.53%2026-10-30 (35d) — 35Δ C — IV 50.88%2026-10-30 (35d) — 40Δ C — IV 54.67%2026-10-30 (35d) — 45Δ C — IV 53.85%2026-10-30 (35d) — ATM — IV 53.48%2026-10-30 (35d) — 45Δ P — IV 53.53%2026-10-30 (35d) — 40Δ P — IV 53.87%2026-10-30 (35d) — 35Δ P — IV 55.78%2026-10-30 (35d) — 30Δ P — IV 56.34%2026-10-30 (35d) — 25Δ P — IV 56.39%2026-10-30 (35d) — 20Δ P — IV 57.11%35d2026-11-20 (56d) — 15Δ C — IV 63.72%2026-11-20 (56d) — 20Δ C — IV 62.88%2026-11-20 (56d) — 25Δ C — IV 62.76%2026-11-20 (56d) — 30Δ C — IV 63.50%2026-11-20 (56d) — 35Δ C — IV 63.92%2026-11-20 (56d) — 40Δ C — IV 63.71%2026-11-20 (56d) — 45Δ C — IV 63.42%2026-11-20 (56d) — ATM — IV 63.40%2026-11-20 (56d) — 45Δ P — IV 63.76%2026-11-20 (56d) — 40Δ P — IV 64.33%2026-11-20 (56d) — 35Δ P — IV 64.89%2026-11-20 (56d) — 30Δ P — IV 65.60%2026-11-20 (56d) — 25Δ P — IV 66.32%2026-11-20 (56d) — 20Δ P — IV 66.81%2026-11-20 (56d) — 15Δ P — IV 67.23%56d10Δ C25Δ CATM25Δ P10Δ Pout-of-the-money calls ← delta → out-of-the-money puts

The axis is call delta. Readings to the right of the dashed centre line are taken from the out-of-the-money put at that strike, which is the contract whose quote the volatility was solved from. Points are only plotted where surviving quotes bracket the delta on both sides; nothing is extrapolated past the last traded strike.

Show the underlying numbers
Delta21d35d56d
5Δ call53.01%——
10Δ call52.24%——
15Δ call53.54%—63.72%
20Δ call53.24%—62.88%
25Δ call51.52%52.42%62.76%
30Δ call50.36%53.53%63.50%
35Δ call49.22%50.88%63.92%
40Δ call50.59%54.67%63.71%
45Δ call54.30%53.85%63.42%
ATM47.39%53.48%63.40%
45Δ put55.46%53.53%63.76%
40Δ put55.85%53.87%64.33%
35Δ put54.87%55.78%64.89%
30Δ put54.75%56.34%65.60%
25Δ put54.89%56.39%66.32%
20Δ put54.28%57.11%66.81%
15Δ put——67.23%

Wing readings by expiration

ExpirationDaysForwardATM IV25Δ put25Δ callRRButterflyQuotes
2026-10-1621$52.6047.39%54.89%51.52%+3.37+5.8121
2026-10-3035$52.8653.48%56.39%52.42%+3.97+0.9211
2026-11-2056$52.6663.40%66.32%62.76%+3.56+1.158
2026-12-1884$53.2158.43%64.12%60.80%+3.32+4.0312
2027-01-15112$53.1558.54%59.77%58.71%+1.06+0.7010
2027-03-19175$54.0359.82%63.62%58.84%+4.78+1.4112
2027-04-16203$54.4457.32%60.77%57.58%+3.19+1.8611
2027-06-17265$54.6658.68%61.77%58.52%+3.25+1.4716

Each curve above is one expiration. The vertical position is implied volatility; the horizontal position is the delta of the contract it was read from. For US equities the curve normally slopes upward to the right, meaning out-of-the-money puts carry higher implied volatility than equidistant calls.

The 25-delta risk reversal summarises that slope as a single number: the 25-delta put volatility minus the 25-delta call volatility. The butterfly summarises the curvature: the average of the two wings minus the at-the-money reading.

Term structure

At-the-money implied volatility by expiration

At-the-money implied volatility by expiration

8 listed expirations produced a usable reading

45%50%55%60%65%2026-10-16 — 21 days — at-the-money IV 47.39%2026-10-30 — 35 days — at-the-money IV 53.48%2026-11-20 — 56 days — at-the-money IV 63.40%2026-12-18 — 84 days — at-the-money IV 58.43%2027-01-15 — 112 days — at-the-money IV 58.54%2027-03-19 — 175 days — at-the-money IV 59.82%2027-04-16 — 203 days — at-the-money IV 57.32%2027-06-17 — 265 days — at-the-money IV 58.68%306090180days to expiration

The horizontal axis is the square root of days to expiration, which is the scale volatility lives on. A curve that is flat in variance terms plots as a straight line here rather than bending sharply through the front week.

Show the underlying numbers
ExpirationDaysForwardATM IVATM strikeQuotes used
2026-10-1621 days$52.6047.39%$52.9421
2026-10-3035 days$52.8653.48%$53.5911
2026-11-2056 days$52.6663.40%$54.318
2026-12-1884 days$53.2158.43%$55.3412
2027-01-15112 days$53.1558.54%$56.0210
2027-03-19175 days$54.0359.82%$58.8712
2027-04-16203 days$54.4457.32%$59.6411
2027-06-17265 days$54.6658.68%$61.9416

Constant maturities

Interpolated between the bracketing listed expirations, in total variance

30 days
52.03%
60 days
62.44%
90 days
58.46%
180 days
59.32%

Interpolation is linear in total variance, not in volatility. Interpolating volatility directly implies a forward variance that can be negative between two expirations. A tenor beyond the longest listed expiration is reported as unavailable rather than extrapolated.

Term structure slope

Last 8 sessions

0.901.001.101.201.302026-09-16 — 90-day over 30-day 1.122026-09-17 — 90-day over 30-day 1.142026-09-18 — 90-day over 30-day 1.202026-09-21 — 90-day over 30-day 1.122026-09-22 — 90-day over 30-day 1.152026-09-23 — 90-day over 30-day 1.162026-09-24 — 90-day over 30-day 1.162026-09-25 — 90-day over 30-day 1.1216 Sep18 Sep22 Sep23 Sep25 Sep

The dashed line marks 1.00, where the 90-day and 30-day at-the-money volatilities are equal. Above it the longer tenor carries the higher volatility.

The term structure is the at-the-money implied volatility of each listed expiration, plotted against how far away that expiration is. Its usual shape for a calm underlying slopes gently upward, because a longer horizon admits more uncertainty.

It inverts when the market prices a dated event: an expiration that captures a scheduled announcement carries the variance of that event on top of ordinary trading, so a shorter contract can print a higher volatility than a longer one.

Earnings

What the options priced in before each report, and what happened

Next report

2026-11-03Time not statedEstimated from its reporting cadence

Reports

Newest first. The implied move is one standard deviation, priced from the session before the release.

ReportSessionImplied ±RealisedRealised / implied
2026-08-11After the close———
2026-05-19After the close———
2026-02-24After the close———
2025-11-04After the close———
2025-08-12After the close———
2025-05-15After the close———
2025-02-25After the close———
2024-11-12After the close———
2024-08-22After the close———
2024-05-28After the close———
2024-02-27After the close———
2023-11-07After the close———

The implied move is read from the at-the-money straddle on the first expiration strictly after the report date, converted to a one-standard-deviation move and divided by the forward. Realised moves are the close-to-close return across the event, measured from the session before the release to the session after it.

Report dates that have already happened come from the company’s own 8-K filing and are exact. A date still in the future is either one the company has announced, or an estimate from its reporting cadence.