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CRWV options analytics

CRWV · Stock

Data as of 23 September 2026 (end of day)

CRWV options are pricing a 30-day at-the-money volatility of 73.3%, a move of about ±21.0% over the next month. Its history here is 5 sessions, short of the 180 a percentile needs, so this reading is not yet ranked against its own past.

Its 25-delta calls carry 4.52 volatility points more than the puts.

Longer-dated options carry more: 90-day volatility is 7% above 30-day.

Its next earnings report is 2026-11-09 (estimated from its reporting cadence).

Current readings

30-day ATM implied volatilityⓘ
73.27%

Prices a move of about ±21.0% over 30 days, or ±4.6% on a typical day.

25-delta risk reversalⓘ
-4.52

Calls carry 4.52 volatility points more than puts the same distance from the money.

25-delta butterflyⓘ
+0.62

The wings carry 0.62 volatility points more than at-the-money.

Term structure slopeⓘ
1.072

90-day volatility is 7% above 30-day.

Where 30-day implied volatility sits

Against 5 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
$86.90
30-day implied forward
$87.92
60-day ATM IV
80.64%
90-day ATM IV
78.54%
180-day ATM IV
78.29%
Expirations used
12
Total open interest
1,791,905
Put / call open interest
0.87

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 5 sessions

73%74%75%76%77%2026-09-17 — 30-day ATM IV 76%2026-09-18 — 30-day ATM IV 74%2026-09-21 — 30-day ATM IV 74%2026-09-22 — 30-day ATM IV 73%2026-09-23 — 30-day ATM IV 73%17 Sep18 Sep21 Sep22 Sep23 Sep
Show the underlying numbers (most recent 5)
Session30-day ATM IV25-delta RRTerm slopeClose
2026-09-2373.27%-4.521.072$86.90
2026-09-2273.50%-4.371.074$86.76
2026-09-2174.08%-3.811.062$85.43
2026-09-1873.63%-4.811.066$81.36
2026-09-1775.94%-5.441.056$79.88

The chart covers every session in the archive, 5 in total. The table lists the most recent 5.

25-delta risk reversal

Last 5 sessions

-6.0-4.0-2.00.02.02026-09-17 — 25-delta RR (volatility points) -5.42026-09-18 — 25-delta RR (volatility points) -4.82026-09-21 — 25-delta RR (volatility points) -3.82026-09-22 — 25-delta RR (volatility points) -4.42026-09-23 — 25-delta RR (volatility points) -4.517 Sep18 Sep21 Sep22 Sep23 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

2d (2026-09-25) · 9d (2026-10-02) · 16d (2026-10-09)

70%75%80%85%90%95%2026-09-25 (2d) — 5Δ C — IV 91.67%2026-09-25 (2d) — 10Δ C — IV 88.28%2026-09-25 (2d) — 15Δ C — IV 86.38%2026-09-25 (2d) — 20Δ C — IV 85.43%2026-09-25 (2d) — 25Δ C — IV 84.59%2026-09-25 (2d) — 30Δ C — IV 83.65%2026-09-25 (2d) — 35Δ C — IV 82.93%2026-09-25 (2d) — 40Δ C — IV 82.48%2026-09-25 (2d) — 45Δ C — IV 82.08%2026-09-25 (2d) — ATM — IV 81.63%2026-09-25 (2d) — 45Δ P — IV 81.06%2026-09-25 (2d) — 40Δ P — IV 81.13%2026-09-25 (2d) — 35Δ P — IV 81.20%2026-09-25 (2d) — 30Δ P — IV 81.05%2026-09-25 (2d) — 25Δ P — IV 80.88%2026-09-25 (2d) — 20Δ P — IV 81.49%2026-09-25 (2d) — 15Δ P — IV 82.53%2026-09-25 (2d) — 10Δ P — IV 83.44%2026-09-25 (2d) — 5Δ P — IV 87.78%2d2026-10-02 (9d) — 5Δ C — IV 85.11%2026-10-02 (9d) — 10Δ C — IV 81.42%2026-10-02 (9d) — 15Δ C — IV 79.48%2026-10-02 (9d) — 20Δ C — IV 78.71%2026-10-02 (9d) — 25Δ C — IV 77.34%2026-10-02 (9d) — 30Δ C — IV 76.75%2026-10-02 (9d) — 35Δ C — IV 76.02%2026-10-02 (9d) — 40Δ C — IV 75.53%2026-10-02 (9d) — 45Δ C — IV 75.05%2026-10-02 (9d) — ATM — IV 74.72%2026-10-02 (9d) — 45Δ P — IV 73.94%2026-10-02 (9d) — 40Δ P — IV 73.92%2026-10-02 (9d) — 35Δ P — IV 73.90%2026-10-02 (9d) — 30Δ P — IV 73.54%2026-10-02 (9d) — 25Δ P — IV 73.51%2026-10-02 (9d) — 20Δ P — IV 73.82%2026-10-02 (9d) — 15Δ P — IV 74.16%2026-10-02 (9d) — 10Δ P — IV 75.18%2026-10-02 (9d) — 5Δ P — IV 76.81%9d2026-10-09 (16d) — 5Δ C — IV 84.96%2026-10-09 (16d) — 10Δ C — IV 80.58%2026-10-09 (16d) — 15Δ C — IV 78.39%2026-10-09 (16d) — 20Δ C — IV 76.82%2026-10-09 (16d) — 25Δ C — IV 75.92%2026-10-09 (16d) — 30Δ C — IV 75.59%2026-10-09 (16d) — 35Δ C — IV 74.84%2026-10-09 (16d) — 40Δ C — IV 74.03%2026-10-09 (16d) — 45Δ C — IV 73.19%2026-10-09 (16d) — ATM — IV 73.21%2026-10-09 (16d) — 45Δ P — IV 73.16%2026-10-09 (16d) — 40Δ P — IV 72.98%2026-10-09 (16d) — 35Δ P — IV 71.80%2026-10-09 (16d) — 30Δ P — IV 73.21%2026-10-09 (16d) — 25Δ P — IV 72.63%2026-10-09 (16d) — 20Δ P — IV 73.68%2026-10-09 (16d) — 15Δ P — IV 73.13%2026-10-09 (16d) — 10Δ P — IV 74.22%2026-10-09 (16d) — 5Δ P — IV 76.21%16d10Δ 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
Delta2d9d16d
5Δ call91.67%85.11%84.96%
10Δ call88.28%81.42%80.58%
15Δ call86.38%79.48%78.39%
20Δ call85.43%78.71%76.82%
25Δ call84.59%77.34%75.92%
30Δ call83.65%76.75%75.59%
35Δ call82.93%76.02%74.84%
40Δ call82.48%75.53%74.03%
45Δ call82.08%75.05%73.19%
ATM81.63%74.72%73.21%
45Δ put81.06%73.94%73.16%
40Δ put81.13%73.92%72.98%
35Δ put81.20%73.90%71.80%
30Δ put81.05%73.54%73.21%
25Δ put80.88%73.51%72.63%
20Δ put81.49%73.82%73.68%
15Δ put82.53%74.16%73.13%
10Δ put83.44%75.18%74.22%
5Δ put87.78%76.81%76.21%

Wing readings by expiration

ExpirationDaysForwardATM IV25Δ put25Δ callRRButterflyQuotes
2026-09-252$87.6581.63%80.88%84.59%-3.71+1.1047
2026-10-029$87.7074.72%73.51%77.34%-3.84+0.7067
2026-10-0916$87.8273.21%72.63%75.92%-3.29+1.0752
2026-10-1623$87.8573.49%72.72%76.24%-3.52+1.0054
2026-10-2330$87.9273.27%71.63%76.15%-4.52+0.6250
2026-10-3037$88.1372.75%72.62%75.64%-3.02+1.3747
2026-11-2058$88.2080.85%80.25%83.29%-3.04+0.9340
2026-12-1886$88.5178.81%78.26%80.69%-2.43+0.6743
2027-01-15114$88.8677.34%77.13%79.10%-1.96+0.7859
2027-02-19149$89.2176.84%76.54%78.28%-1.73+0.5727
2027-03-19177$89.4478.32%78.00%79.45%-1.45+0.4043
2027-06-17267$90.5477.74%77.87%78.28%-0.41+0.3445

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

12 listed expirations produced a usable reading

72%74%76%78%80%82%84%2026-09-25 — 2 days — at-the-money IV 81.63%2026-10-02 — 9 days — at-the-money IV 74.72%2026-10-09 — 16 days — at-the-money IV 73.21%2026-10-16 — 23 days — at-the-money IV 73.49%2026-10-23 — 30 days — at-the-money IV 73.27%2026-10-30 — 37 days — at-the-money IV 72.75%2026-11-20 — 58 days — at-the-money IV 80.85%2026-12-18 — 86 days — at-the-money IV 78.81%2027-01-15 — 114 days — at-the-money IV 77.34%2027-02-19 — 149 days — at-the-money IV 76.84%2027-03-19 — 177 days — at-the-money IV 78.32%2027-06-17 — 267 days — at-the-money IV 77.74%7306090180days 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
2026-09-252 days$87.6581.63%$87.8147
2026-10-029 days$87.7074.72%$88.3167
2026-10-0916 days$87.8273.21%$88.8652
2026-10-1623 days$87.8573.49%$89.3654
2026-10-2330 days$87.9273.27%$89.8950
2026-10-3037 days$88.1372.75%$90.5247
2026-11-2058 days$88.2080.85%$92.9140
2026-12-1886 days$88.5178.81%$95.2343
2027-01-15114 days$88.8677.34%$97.5659
2027-02-19149 days$89.2176.84%$100.6427
2027-03-19177 days$89.4478.32%$103.7843
2027-06-17267 days$90.5477.74%$112.9445

Constant maturities

Interpolated between the bracketing listed expirations, in total variance

30 days
73.27%
60 days
80.64%
90 days
78.54%
180 days
78.29%

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 5 sessions

0.981.001.021.041.061.082026-09-17 — 90-day over 30-day 1.062026-09-18 — 90-day over 30-day 1.072026-09-21 — 90-day over 30-day 1.062026-09-22 — 90-day over 30-day 1.072026-09-23 — 90-day over 30-day 1.0717 Sep18 Sep21 Sep22 Sep23 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

2026-11-09Time 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———
2026-05-07After the close———
2026-02-26After the close———
2025-11-10After the close———
2025-08-12After the close———
2025-05-14After 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.