ETF · 期权分析
ARKG 期权分析
数据截至 2026年11月10日(收盘)
- 标的收盘价
- $46.27
- 30D ATM IV
- 57.28%
- IV 百分位 · 1年
- 第 85
- 25Δ 风险逆转
- +6.97
- 期限斜率 90/30
- 0.937
▼ -0.84 pts 较前一交易日
本交易日部分指标不可用
概览
ARKG 期权当前计入的 30 天平值隐含波动率为 57.3%,相当于未来一个月约 ±16.4% 的波动。这高于它过去一年 216 个交易日中 85% 的读数。
它的 25-delta put 比 call 的隐含波动率高 6.97 个波动率点,过去一年里只有 6% 的交易日差距比这更大。
期限结构倒挂:90 天波动率比 30 天低 6%。当市场把某个有确定日期的事件计入较近的到期日时,就会出现这种情况。
01 · 读数
当前读数
最近一个交易日的 30 天曲面,每个读数都放在它自身的历史里比较。
主要读数 · 30 天期限
- 30 天 ATM 隐含波动率ⓘ
- 57.28%
- 25-delta 风险逆转ⓘ
- +6.97
- 25-delta 蝶式价差ⓘ
- +1.98
- 期限结构斜率ⓘ
- 0.937
对应 30 天内约 ±16.4% 的波动，平常一天约 ±3.6%。
高于过去一年中 85% 的读数。
距平值同样远时，put 比 call的隐含波动率高 6.97 个点。
高于过去一年中 94% 的读数。
两翼的隐含波动率比平值高 1.98 个点。
90 天的隐含波动率比 30 天低 6%。
高于过去一年中 18% 的读数。
30 天隐含波动率处在什么位置
对比此前 216 个交易日(一年窗口)
- IV 百分位,1 年
- 85%
- IV 排名,1 年
- 40%
- IV 百分位,2 年
- 90%
- IV 排名,2 年
- 42%
排名是当前读数在窗口内最低与最高读数之间的位置,所以过去只要有一个极端值,之后的读数都会被压在一端附近。百分位是低于当前读数的交易日所占的比例,不受那个极端值有多极端的影响。窗口内少于 180 个交易日时,两者都不显示。
交易日明细
- 标的收盘价
- $46.27
- 30 天隐含远期价
- $46.59
- 60 天 ATM IV
- 52.22%
- 90 天 ATM IV
- 53.67%
- 180 天 ATM IV
- —
- 使用的到期日数
- 6
- 总未平仓量
- 170,846
- Put / call 未平仓量比
- 1.43
远期价由最接近平值的几个行权价上的 put-call 平价关系推出,而不是直接取标的收盘价。本页所有的价值状态(moneyness)和 delta 都以它为基准。
02 · 历史
读数是怎么走到这里的
存档窗口内的每个交易日,每次收盘一个点。
30 天平值隐含波动率
最近 345 个交易日
显示底层数据(最近 120 个)
| 交易日 | 30 天 ATM IV | 25-delta RR | 期限斜率 | 收盘价 |
|---|---|---|---|---|
| 2026-11-10 | 57.28% | +6.97 | 0.937 | $46.27 |
| 2026-11-09 | 58.12% | +4.07 | 0.965 | $48.25 |
| 2026-11-06 | 62.86% | -0.44 | — | $45.45 |
| 2026-11-05 | — | — | — | $44.62 |
| 2026-11-04 | 56.97% | +3.07 | 0.961 | $49.69 |
| 2026-11-03 | 59.20% | +3.89 | 0.929 | $49.51 |
| 2026-11-02 | 57.85% | +1.12 | 0.977 | $48.29 |
| 2026-10-30 | 58.45% | +1.82 | — | $51.40 |
| 2026-10-29 | 54.04% | +2.93 | 0.981 | $55.11 |
| 2026-10-28 | — | — | — | $54.82 |
| 2026-10-27 | 53.62% | +5.74 | — | $51.65 |
| 2026-10-26 | 55.49% | +2.89 | 0.923 | $48.72 |
| 2026-10-23 | 52.82% | +2.69 | 1.006 | $48.16 |
| 2026-10-22 | 54.97% | +6.65 | 0.876 | $47.87 |
| 2026-10-21 | 55.03% | +2.69 | 0.952 | $49.85 |
| 2026-10-20 | 55.34% | +3.85 | 1.022 | $48.65 |
| 2026-10-19 | 55.62% | +3.43 | 0.922 | $47.37 |
| 2026-10-16 | 53.53% | -0.02 | 0.951 | $46.70 |
| 2026-10-15 | 49.26% | +6.86 | 1.100 | $49.24 |
| 2026-10-14 | 49.68% | +2.53 | 1.051 | $48.28 |
| 2026-10-13 | 51.48% | +2.39 | 0.974 | $48.51 |
| 2026-10-09 | 51.26% | +2.73 | 0.989 | $51.30 |
| 2026-10-08 | 51.83% | +2.37 | 0.959 | $49.29 |
| 2026-10-07 | 49.48% | +4.84 | 1.056 | $50.14 |
| 2026-10-06 | 50.68% | +1.73 | 0.961 | $51.75 |
| 2026-10-05 | 52.50% | -1.87 | 0.914 | $56.77 |
| 2026-10-02 | 49.47% | +4.57 | 0.983 | $54.00 |
| 2026-10-01 | 48.85% | -0.12 | 1.006 | $53.17 |
| 2026-09-30 | 49.76% | +0.09 | 0.971 | $54.22 |
| 2026-09-29 | 48.84% | +2.66 | 1.020 | $53.95 |
| 2026-09-28 | 49.23% | +2.31 | 1.014 | $53.35 |
| 2026-09-25 | 50.75% | +1.36 | 0.995 | $53.36 |
| 2026-09-24 | 56.60% | +0.61 | 0.975 | $53.53 |
| 2026-09-23 | 46.87% | +0.26 | 1.068 | $50.92 |
| 2026-09-22 | 49.04% | +2.13 | 1.010 | $52.87 |
| 2026-09-21 | 49.95% | +0.49 | 1.003 | $51.81 |
| 2026-09-18 | 47.97% | +3.97 | 1.019 | $51.64 |
| 2026-09-17 | 48.35% | +2.80 | 0.988 | $51.59 |
| 2026-09-16 | — | — | — | $47.85 |
| 2026-09-15 | — | — | — | $47.71 |
| 2026-09-14 | — | — | — | $46.80 |
| 2026-09-11 | 47.80% | +2.66 | 1.009 | $45.56 |
| 2026-09-10 | — | — | — | $45.38 |
| 2026-09-09 | 47.10% | -0.37 | 1.014 | $46.31 |
| 2026-09-08 | — | — | — | $46.85 |
| 2026-09-04 | — | — | — | $47.14 |
| 2026-09-03 | — | — | — | $47.20 |
| 2026-09-02 | — | — | — | $47.15 |
| 2026-09-01 | 48.98% | +3.83 | 1.011 | $46.84 |
| 2026-08-31 | — | — | — | $47.23 |
| 2026-08-28 | — | — | — | $47.64 |
| 2026-08-27 | — | — | — | $49.87 |
| 2026-08-26 | — | — | — | $49.45 |
| 2026-08-25 | — | — | — | $50.06 |
| 2026-08-24 | — | — | — | $48.01 |
| 2026-08-21 | 51.15% | +0.95 | 0.988 | $49.45 |
| 2026-08-20 | 51.14% | +1.11 | 1.000 | $47.64 |
| 2026-08-19 | — | — | — | $47.73 |
| 2026-08-18 | — | — | — | $43.21 |
| 2025-10-22 | 64.37% | +1.49 | 0.954 | $30.57 |
| 2025-10-21 | 56.56% | +7.43 | — | $32.66 |
| 2025-10-20 | — | — | — | $33.60 |
| 2025-10-17 | 59.69% | +2.90 | 0.927 | $31.00 |
| 2025-10-16 | 58.97% | +3.13 | 0.963 | $32.08 |
| 2025-10-15 | 60.81% | +1.63 | 0.943 | $32.27 |
| 2025-10-14 | — | — | — | $30.51 |
| 2025-10-10 | — | — | — | $30.35 |
| 2025-10-09 | 55.73% | -0.79 | 0.947 | $31.65 |
| 2025-10-08 | 55.94% | -1.06 | 0.941 | $32.13 |
| 2025-10-07 | 47.94% | +0.13 | 0.947 | $30.00 |
| 2025-10-06 | 49.59% | +1.37 | 0.918 | $30.38 |
| 2025-10-03 | 45.17% | +0.73 | 0.967 | $30.04 |
| 2025-10-02 | 44.73% | +1.07 | 0.967 | $29.81 |
| 2025-10-01 | 44.70% | +2.28 | 0.974 | $28.85 |
| 2025-09-30 | 43.54% | +1.40 | 0.997 | $27.77 |
| 2025-09-29 | 44.61% | +0.34 | 0.982 | $27.27 |
| 2025-09-26 | 43.70% | +0.25 | 0.997 | $26.91 |
| 2025-09-25 | 43.97% | +0.68 | 0.998 | $26.67 |
| 2025-09-24 | 43.41% | +2.11 | 0.996 | $27.00 |
| 2025-09-23 | 42.73% | +0.25 | 0.994 | $27.51 |
| 2025-09-22 | 41.24% | -0.22 | 1.027 | $27.85 |
| 2025-09-19 | 41.80% | +0.23 | 1.019 | $27.51 |
| 2025-09-18 | 41.01% | +2.10 | 1.013 | $27.60 |
| 2025-09-17 | 40.93% | +2.42 | 0.992 | $26.27 |
| 2025-09-16 | 40.06% | +1.18 | 1.006 | $26.55 |
| 2025-09-15 | 38.40% | +0.74 | 1.043 | $25.93 |
| 2025-09-12 | 38.21% | -0.19 | 1.056 | $25.60 |
| 2025-09-11 | — | — | — | $26.19 |
| 2025-09-10 | 37.94% | +0.98 | 1.039 | $24.78 |
| 2025-09-09 | 38.33% | +1.61 | 1.036 | $25.61 |
| 2025-09-08 | 39.28% | +0.37 | 1.013 | $25.48 |
| 2025-09-05 | — | — | — | $25.52 |
| 2025-09-04 | 38.14% | +1.73 | 1.041 | $24.90 |
| 2025-09-03 | 39.59% | +1.63 | 1.012 | $24.86 |
| 2025-09-02 | 40.13% | +1.68 | 1.012 | $24.80 |
| 2025-08-29 | 38.61% | +1.60 | 1.037 | $24.72 |
| 2025-08-28 | 38.08% | +0.33 | 1.050 | $24.76 |
| 2025-08-27 | 39.65% | -1.64 | 1.054 | $24.72 |
| 2025-08-26 | 38.65% | +0.44 | 1.044 | $24.91 |
| 2025-08-25 | 39.24% | -0.77 | 1.025 | $24.73 |
| 2025-08-22 | 37.83% | +0.57 | 1.063 | $25.24 |
| 2025-08-21 | 39.44% | +1.20 | 1.027 | $24.29 |
| 2025-08-20 | 38.78% | +1.07 | 1.064 | $24.02 |
| 2025-08-19 | 39.05% | +2.61 | 1.012 | $24.22 |
| 2025-08-18 | 38.81% | +1.81 | 1.032 | $25.10 |
| 2025-08-15 | — | — | — | $25.24 |
| 2025-08-14 | 39.56% | +2.17 | 1.009 | $25.08 |
| 2025-08-13 | — | — | — | $25.16 |
| 2025-08-12 | — | — | — | $24.08 |
| 2025-08-11 | — | — | — | $23.38 |
| 2025-08-08 | 39.55% | +1.87 | 1.019 | $23.38 |
| 2025-08-07 | 39.73% | +3.14 | 1.035 | $23.29 |
| 2025-08-06 | 40.88% | +3.01 | 0.993 | $23.09 |
| 2025-08-05 | 41.17% | +2.76 | 0.987 | $23.69 |
| 2025-08-04 | 39.47% | +2.66 | 1.027 | $24.16 |
| 2025-08-01 | 41.98% | +2.25 | 0.998 | $23.56 |
| 2025-07-31 | 40.98% | +1.27 | 1.002 | $23.82 |
| 2025-07-30 | 40.80% | +1.42 | 1.012 | $24.50 |
| 2025-07-29 | 39.81% | +2.42 | 1.011 | $24.62 |
| 2025-07-28 | 39.72% | +1.62 | 1.001 | $25.68 |
图表覆盖存档中的全部交易日,共 345 个。表格列出最近的 120 个。
25-delta 风险逆转
最近 345 个交易日
虚线标出零的位置,即 25-delta put 与 call 隐含波动率相同之处。
03 · 偏斜
偏斜曲线
按 delta 排列的隐含波动率,近月到期日
按 delta 排列的隐含波动率
10d (2026-11-20) · 17d (2026-11-27) · 24d (2026-12-04)
横轴是 call 的 delta。虚线中线右侧的读数取自该行权价上的虚值 put,波动率正是从这个合约的报价反解出来的。只有在保留下来的报价从两侧夹住该 delta 时才会画点;最后一个有成交的行权价之外一律不外推。
显示底层数据
| Delta | 10d | 17d | 24d |
|---|---|---|---|
| 20Δ 看涨 | 63.16% | — | — |
| 25Δ 看涨 | 62.96% | 58.49% | 57.99% |
| 30Δ 看涨 | 62.38% | 56.80% | 57.40% |
| 35Δ 看涨 | 64.47% | 58.04% | 58.04% |
| 40Δ 看涨 | 64.47% | 57.30% | 58.05% |
| 45Δ 看涨 | 63.21% | 57.53% | 58.15% |
| ATM | 61.67% | 57.74% | 58.13% |
| 45Δ 看跌 | 64.16% | 60.73% | 58.01% |
| 40Δ 看跌 | 63.07% | 60.15% | 59.21% |
| 35Δ 看跌 | 64.71% | 60.34% | 58.65% |
| 30Δ 看跌 | 66.39% | 62.06% | 60.05% |
| 25Δ 看跌 | 66.72% | 61.96% | 62.91% |
| 20Δ 看跌 | 67.95% | — | 63.76% |
| 15Δ 看跌 | 69.77% | — | — |
各到期日的两翼读数
| 到期日 | 天数 | 远期价 | ATM IV | 25Δ put | 25Δ call | RR | 蝶式价差 | 报价数 |
|---|---|---|---|---|---|---|---|---|
| 2026-11-20 | 10 | $46.23 | 61.67% | 66.72% | 62.96% | +3.76 | +3.17 | 19 |
| 2026-11-27 | 17 | $46.32 | 57.74% | 61.96% | 58.49% | +3.47 | +2.49 | 17 |
| 2026-12-04 | 24 | $46.25 | 58.13% | 62.91% | 57.99% | +4.92 | +2.32 | 15 |
| 2026-12-18 | 38 | $47.05 | 56.56% | 62.61% | 53.84% | +8.77 | +1.67 | 17 |
| 2027-01-15 | 66 | $46.95 | 51.50% | 57.90% | 54.33% | +3.57 | +4.61 | 20 |
| 2027-04-16 | 157 | $46.95 | 56.11% | 55.29% | 54.98% | +0.30 | -0.98 | 29 |
上面每条曲线代表一个到期日。纵向位置是隐含波动率,横向位置是读数所取合约的 delta。对美股来说,曲线通常向右上方倾斜,也就是虚值 put 的隐含波动率高于距离相同的 call。
25-delta 风险逆转把这个斜率概括成一个数字:25-delta put 的波动率减去 25-delta call 的波动率。蝶式价差(butterfly)概括的是弯曲程度:两翼的平均值减去平值读数。
04 · 期限结构
期限结构
各到期日的平值隐含波动率
各到期日的平值隐含波动率
6 个上市到期日得出了可用读数
横轴是距到期天数的平方根,这是波动率本身所在的尺度。按方差计算平坦的曲线,在这里会画成一条直线,而不会在最近一周急剧弯折。
显示底层数据
| 到期日 | 天数 | 远期价 | ATM IV | ATM 行权价 | 使用的报价数 |
|---|---|---|---|---|---|
| 2026-11-20 | 10 天 | $46.23 | 61.67% | $46.47 | 19 |
| 2026-11-27 | 17 天 | $46.32 | 57.74% | $46.69 | 17 |
| 2026-12-04 | 24 天 | $46.25 | 58.13% | $46.77 | 15 |
| 2026-12-18 | 38 天 | $47.05 | 56.56% | $47.84 | 17 |
| 2027-01-15 | 66 天 | $46.95 | 51.50% | $48.09 | 20 |
| 2027-04-16 | 157 天 | $46.95 | 56.11% | $50.24 | 29 |
恒定期限
在前后相邻的上市到期日之间按总方差插值
- 30 天
- 57.28%
- 60 天
- 52.22%
- 90 天
- 53.67%
- 180 天
- —
插值是对总方差做线性插值,而不是对波动率。直接对波动率插值,隐含的两个到期日之间的远期方差可能为负。超出最长上市到期日的期限会标为不可用,而不是外推。
期限结构斜率
最近 345 个交易日
虚线标出 1.00,即 90 天与 30 天平值波动率相等之处。在它上方,较长期限的波动率更高。
期限结构就是每个上市到期日的平值隐含波动率,按到期日有多远排开画出来。标的平稳时,它通常缓缓向上倾斜,因为期限越长,能容纳的不确定性越多。
当市场为某个有确定日期的事件定价时,它会倒挂:包含预定公告的到期日,除了平常交易的方差之外还要加上该事件的方差,所以较短的合约可能显示出比较长合约更高的波动率。