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WULF options analytics

WULF · Stock

Data as of 28 September 2026 (end of day)

WULF options are pricing a 30-day at-the-money volatility of 78.8%, a move of about ±22.6% over the next month. Its history here is 7 sessions, short of the 180 a percentile needs, so this reading is not yet ranked against its own past.

Its 25-delta puts carry 1.90 volatility points more than the calls.

Longer-dated options carry more: 90-day volatility is 5% above 30-day.

Its next earnings report is 2026-11-05 (estimated from its reporting cadence).

Current readings

30-day ATM implied volatilityⓘ
78.84%

Prices a move of about ±22.6% over 30 days, or ±5.0% on a typical day.

25-delta risk reversalⓘ
+1.90

Puts carry 1.90 volatility points more than calls the same distance from the money.

25-delta butterflyⓘ
+2.64

The wings carry 2.64 volatility points more than at-the-money.

Term structure slopeⓘ
1.052

90-day volatility is 5% above 30-day.

Where 30-day implied volatility sits

Against 6 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
$15.12
30-day implied forward
$15.29
60-day ATM IV
84.58%
90-day ATM IV
82.91%
180-day ATM IV
83.78%
Expirations used
15
Total open interest
1,888,868
Put / call open interest
0.33

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 7 sessions

76%77%78%79%80%81%2026-09-21 — 30-day ATM IV 79%2026-09-22 — 30-day ATM IV 80%2026-09-23 — 30-day ATM IV 80%2026-09-24 — 30-day ATM IV 80%2026-09-25 — 30-day ATM IV 77%2026-09-28 — 30-day ATM IV 79%21 Sep22 Sep24 Sep25 Sep28 Sep
Show the underlying numbers (most recent 7)
Session30-day ATM IV25-delta RRTerm slopeClose
2026-09-2878.84%+1.901.052$15.12
2026-09-2577.13%-1.181.074$15.74
2026-09-2479.73%-3.801.068$16.29
2026-09-2379.66%-6.301.059$16.35
2026-09-2279.89%-4.631.059$17.33
2026-09-2179.44%-2.891.058$17.45
2024-09-30———$4.68

The chart covers every session in the archive, 7 in total. The table lists the most recent 7.

25-delta risk reversal

Last 7 sessions

-8.0-6.0-4.0-2.00.02.04.02026-09-21 — 25-delta RR (volatility points) -2.92026-09-22 — 25-delta RR (volatility points) -4.62026-09-23 — 25-delta RR (volatility points) -6.32026-09-24 — 25-delta RR (volatility points) -3.82026-09-25 — 25-delta RR (volatility points) -1.22026-09-28 — 25-delta RR (volatility points) 1.921 Sep22 Sep24 Sep25 Sep28 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

4d (2026-10-02) · 11d (2026-10-09) · 18d (2026-10-16)

70%80%90%100%110%2026-10-02 (4d) — 5Δ C — IV 99.76%2026-10-02 (4d) — 10Δ C — IV 95.01%2026-10-02 (4d) — 15Δ C — IV 91.96%2026-10-02 (4d) — 20Δ C — IV 89.44%2026-10-02 (4d) — 25Δ C — IV 89.21%2026-10-02 (4d) — 30Δ C — IV 89.21%2026-10-02 (4d) — 35Δ C — IV 89.05%2026-10-02 (4d) — 40Δ C — IV 88.12%2026-10-02 (4d) — 45Δ C — IV 87.30%2026-10-02 (4d) — ATM — IV 86.98%2026-10-02 (4d) — 45Δ P — IV 86.76%2026-10-02 (4d) — 40Δ P — IV 86.48%2026-10-02 (4d) — 35Δ P — IV 85.98%2026-10-02 (4d) — 30Δ P — IV 85.44%2026-10-02 (4d) — 25Δ P — IV 85.28%2026-10-02 (4d) — 20Δ P — IV 85.48%2026-10-02 (4d) — 15Δ P — IV 85.62%2026-10-02 (4d) — 10Δ P — IV 84.33%2026-10-02 (4d) — 5Δ P — IV 84.57%4d2026-10-09 (11d) — 5Δ C — IV 105.34%2026-10-09 (11d) — 10Δ C — IV 88.14%2026-10-09 (11d) — 15Δ C — IV 85.73%2026-10-09 (11d) — 20Δ C — IV 83.31%2026-10-09 (11d) — 25Δ C — IV 81.49%2026-10-09 (11d) — 30Δ C — IV 80.30%2026-10-09 (11d) — 35Δ C — IV 79.61%2026-10-09 (11d) — 40Δ C — IV 79.19%2026-10-09 (11d) — 45Δ C — IV 78.91%2026-10-09 (11d) — ATM — IV 78.77%2026-10-09 (11d) — 45Δ P — IV 78.71%2026-10-09 (11d) — 40Δ P — IV 78.69%2026-10-09 (11d) — 35Δ P — IV 78.73%2026-10-09 (11d) — 30Δ P — IV 78.90%2026-10-09 (11d) — 25Δ P — IV 79.63%2026-10-09 (11d) — 20Δ P — IV 80.39%2026-10-09 (11d) — 15Δ P — IV 80.52%2026-10-09 (11d) — 10Δ P — IV 79.75%2026-10-09 (11d) — 5Δ P — IV 82.73%11d2026-10-16 (18d) — 5Δ C — IV 97.23%2026-10-16 (18d) — 10Δ C — IV 85.46%2026-10-16 (18d) — 15Δ C — IV 83.44%2026-10-16 (18d) — 20Δ C — IV 81.66%2026-10-16 (18d) — 25Δ C — IV 80.49%2026-10-16 (18d) — 30Δ C — IV 79.53%2026-10-16 (18d) — 35Δ C — IV 78.63%2026-10-16 (18d) — 40Δ C — IV 78.48%2026-10-16 (18d) — 45Δ C — IV 78.39%2026-10-16 (18d) — ATM — IV 78.12%2026-10-16 (18d) — 45Δ P — IV 77.71%2026-10-16 (18d) — 40Δ P — IV 77.60%2026-10-16 (18d) — 35Δ P — IV 77.89%2026-10-16 (18d) — 30Δ P — IV 78.33%2026-10-16 (18d) — 25Δ P — IV 78.29%2026-10-16 (18d) — 20Δ P — IV 77.93%2026-10-16 (18d) — 15Δ P — IV 78.40%2026-10-16 (18d) — 10Δ P — IV 78.39%2026-10-16 (18d) — 5Δ P — IV 80.43%18d10Δ 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
Delta4d11d18d
5Δ call99.76%105.34%97.23%
10Δ call95.01%88.14%85.46%
15Δ call91.96%85.73%83.44%
20Δ call89.44%83.31%81.66%
25Δ call89.21%81.49%80.49%
30Δ call89.21%80.30%79.53%
35Δ call89.05%79.61%78.63%
40Δ call88.12%79.19%78.48%
45Δ call87.30%78.91%78.39%
ATM86.98%78.77%78.12%
45Δ put86.76%78.71%77.71%
40Δ put86.48%78.69%77.60%
35Δ put85.98%78.73%77.89%
30Δ put85.44%78.90%78.33%
25Δ put85.28%79.63%78.29%
20Δ put85.48%80.39%77.93%
15Δ put85.62%80.52%78.40%
10Δ put84.33%79.75%78.39%
5Δ put84.57%82.73%80.43%

Wing readings by expiration

ExpirationDaysForwardATM IV25Δ put25Δ callRRButterflyQuotes
2026-10-024$15.2786.98%85.28%89.21%-3.93+0.2613
2026-10-0911$15.2978.77%79.63%81.49%-1.86+1.7924
2026-10-1618$15.3078.12%78.29%80.49%-2.20+1.2725
2026-10-2325$15.2479.60%76.98%80.52%-3.54-0.8526
2026-10-3032$15.3178.61%84.07%80.55%+3.52+3.7028
2026-11-0639$15.3281.51%81.23%83.79%-2.57+1.0024
2026-11-2053$15.3585.04%85.27%85.98%-0.72+0.5820
2026-12-1881$15.3983.67%83.81%85.40%-1.59+0.9325
2027-01-15109$15.5181.71%83.07%82.65%+0.42+1.1529
2027-02-19144$15.6781.25%86.02%80.87%+5.16+2.2025
2027-03-19172$15.7283.25%84.93%83.82%+1.11+1.1226
2027-04-16200$15.7484.89%85.28%83.00%+2.28-0.7620
2027-05-21235$15.8283.62%83.48%84.13%-0.65+0.1815
2027-06-17262$15.9083.00%84.63%82.14%+2.48+0.3816
2027-09-17354$16.1180.41%84.37%82.33%+2.04+2.9314

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

15 listed expirations produced a usable reading

76%78%80%82%84%86%88%2026-10-02 — 4 days — at-the-money IV 86.98%2026-10-09 — 11 days — at-the-money IV 78.77%2026-10-16 — 18 days — at-the-money IV 78.12%2026-10-23 — 25 days — at-the-money IV 79.60%2026-10-30 — 32 days — at-the-money IV 78.61%2026-11-06 — 39 days — at-the-money IV 81.51%2026-11-20 — 53 days — at-the-money IV 85.04%2026-12-18 — 81 days — at-the-money IV 83.67%2027-01-15 — 109 days — at-the-money IV 81.71%2027-02-19 — 144 days — at-the-money IV 81.25%2027-03-19 — 172 days — at-the-money IV 83.25%2027-04-16 — 200 days — at-the-money IV 84.89%2027-05-21 — 235 days — at-the-money IV 83.62%2027-06-17 — 262 days — at-the-money IV 83.00%2027-09-17 — 354 days — at-the-money IV 80.41%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
2026-10-024 days$15.2786.98%$15.3413
2026-10-0911 days$15.2978.77%$15.4424
2026-10-1618 days$15.3078.12%$15.5325
2026-10-2325 days$15.2479.60%$15.5726
2026-10-3032 days$15.3178.61%$15.7328
2026-11-0639 days$15.3281.51%$15.8724
2026-11-2053 days$15.3585.04%$16.1820
2026-12-1881 days$15.3983.67%$16.6425
2027-01-15109 days$15.5181.71%$17.1329
2027-02-19144 days$15.6781.25%$17.8525
2027-03-19172 days$15.7283.25%$18.5126
2027-04-16200 days$15.7484.89%$19.1820
2027-05-21235 days$15.8283.62%$19.8215
2027-06-17262 days$15.9083.00%$20.3616
2027-09-17354 days$16.1180.41%$22.0514

Constant maturities

Interpolated between the bracketing listed expirations, in total variance

30 days
78.84%
60 days
84.58%
90 days
82.91%
180 days
83.78%

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 7 sessions

0.981.001.021.041.061.082026-09-21 — 90-day over 30-day 1.062026-09-22 — 90-day over 30-day 1.062026-09-23 — 90-day over 30-day 1.062026-09-24 — 90-day over 30-day 1.072026-09-25 — 90-day over 30-day 1.072026-09-28 — 90-day over 30-day 1.0521 Sep22 Sep24 Sep25 Sep28 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

2026-11-05Time 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
2026-08-05Before the open———
2026-05-08Before the open———
2026-04-14After the close———
2026-02-26After the close———
2025-11-10After the close———
2025-10-28Before the open———
2025-08-14Before the open———
2025-08-08Before the open———
2025-05-09Before the open———
2025-02-28Before the open———
2024-11-12After the close———
2024-08-12After the close———
2024-05-13After the close———
2024-03-19After the close———
2023-11-13After 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.