股票 · 期权分析
BK 期权分析
数据截至 2025年10月22日(收盘)
- 标的收盘价
- $107.03
- 30D ATM IV
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- IV 百分位 · 1年
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- 25Δ 风险逆转
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- 期限斜率 90/30
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本交易日无法计算任何指标
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ⓘ
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- 25-delta 风险逆转ⓘ
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- 25-delta 蝶式价差ⓘ
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- 期限结构斜率ⓘ
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30 天隐含波动率处在什么位置
对比此前 123 个交易日(一年窗口)
这个窗口内的历史不足,无法定位当前读数。
- IV 百分位,1 年
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- IV 排名,1 年
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- IV 百分位,2 年
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- IV 排名,2 年
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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
- $107.03
- 30 天隐含远期价
- —
- 60 天 ATM IV
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- 90 天 ATM IV
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- 180 天 ATM IV
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- 使用的到期日数
- 1
- 总未平仓量
- 36,207
- Put / call 未平仓量比
- 0.43
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 285 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 |
|---|---|---|---|---|
| 2025-10-22 | — | — | — | $107.03 |
| 2025-10-21 | — | — | — | $107.00 |
| 2025-10-20 | — | — | — | $108.50 |
| 2025-10-17 | — | — | — | $105.98 |
| 2025-10-16 | — | — | — | $106.72 |
| 2025-10-15 | — | — | — | $108.93 |
| 2025-10-14 | — | — | — | $107.11 |
| 2025-10-10 | — | — | — | $104.54 |
| 2025-10-09 | — | — | — | $106.82 |
| 2025-10-08 | — | — | — | $106.01 |
| 2025-10-07 | — | — | — | $106.93 |
| 2025-10-06 | — | — | — | $106.43 |
| 2025-10-03 | — | — | — | $106.60 |
| 2025-10-02 | — | — | — | $106.38 |
| 2025-10-01 | — | — | — | $106.83 |
| 2025-09-30 | — | — | — | $108.96 |
| 2025-09-29 | — | — | — | $109.75 |
| 2025-09-26 | 28.52% | +5.14 | 0.918 | $109.53 |
| 2025-09-25 | — | — | — | $109.08 |
| 2025-09-24 | — | — | — | $108.11 |
| 2025-09-23 | — | — | — | $108.66 |
| 2025-09-22 | — | — | — | $109.46 |
| 2025-09-19 | — | — | — | $108.71 |
| 2025-09-18 | — | — | — | $108.52 |
| 2025-09-17 | — | — | — | $107.01 |
| 2025-09-16 | 25.69% | +4.47 | 1.000 | $105.49 |
| 2025-09-15 | 24.99% | +4.93 | 1.014 | $106.42 |
| 2025-09-12 | — | — | — | $106.48 |
| 2025-09-11 | 23.86% | +4.33 | 1.042 | $105.60 |
| 2025-09-10 | 24.90% | +4.28 | 1.024 | $104.00 |
| 2025-09-09 | 25.16% | +3.91 | 1.012 | $104.77 |
| 2025-09-08 | 23.53% | +4.66 | 1.063 | $104.02 |
| 2025-09-05 | — | — | — | $103.69 |
| 2025-09-04 | 23.20% | +4.64 | 1.051 | $105.56 |
| 2025-09-03 | 22.59% | +4.80 | 1.060 | $104.68 |
| 2025-09-02 | 23.90% | +5.38 | 1.061 | $104.70 |
| 2025-08-29 | 21.73% | +4.26 | 1.125 | $105.60 |
| 2025-08-28 | 22.41% | +4.11 | 1.079 | $106.10 |
| 2025-08-27 | 20.95% | +4.77 | 1.115 | $105.03 |
| 2025-08-26 | 20.97% | +4.27 | 1.129 | $104.59 |
| 2025-08-25 | 20.35% | +4.37 | 1.183 | $103.12 |
| 2025-08-22 | 20.07% | +3.08 | 1.146 | $102.54 |
| 2025-08-21 | 22.91% | +4.52 | 1.124 | $101.78 |
| 2025-08-20 | 21.40% | +4.71 | 1.121 | $101.25 |
| 2025-08-19 | 21.80% | +5.42 | 1.083 | $101.08 |
| 2025-08-18 | 20.91% | +6.04 | 1.169 | $101.74 |
| 2025-08-15 | — | — | — | $101.00 |
| 2025-08-14 | — | — | — | $103.35 |
| 2025-08-13 | — | — | — | $101.91 |
| 2025-08-12 | — | — | — | $103.61 |
| 2025-08-11 | — | — | — | $103.27 |
| 2025-08-08 | 19.65% | +3.42 | 1.154 | $103.09 |
| 2025-08-07 | 22.62% | +3.76 | 1.045 | $102.21 |
| 2025-08-06 | 22.31% | +4.30 | 1.070 | $102.29 |
| 2025-08-05 | 22.83% | +5.13 | 1.036 | $100.66 |
| 2025-08-04 | 21.71% | +4.81 | 1.082 | $101.41 |
| 2025-08-01 | 24.65% | +5.18 | 1.008 | $99.81 |
| 2025-07-31 | 22.20% | +3.46 | 1.050 | $101.45 |
| 2025-07-30 | 21.81% | +4.04 | 1.051 | $102.30 |
| 2025-07-29 | 21.57% | +3.81 | 1.072 | $101.87 |
| 2025-07-28 | 21.50% | +3.65 | 1.117 | $100.63 |
| 2025-07-25 | 19.93% | +3.17 | 1.120 | $100.92 |
| 2025-07-24 | — | — | — | $99.97 |
| 2025-07-23 | — | — | — | $99.63 |
| 2025-07-22 | 19.89% | +2.85 | 1.108 | $98.90 |
| 2025-07-21 | 20.05% | +3.72 | 1.103 | $98.60 |
| 2025-07-18 | — | — | — | $98.84 |
| 2025-07-17 | — | — | — | $97.92 |
| 2025-07-16 | — | — | — | $95.49 |
| 2025-07-15 | — | — | — | $95.16 |
| 2025-07-14 | 27.80% | +5.02 | 0.882 | $95.25 |
| 2025-07-11 | 25.06% | +3.89 | 0.922 | $93.72 |
| 2025-07-10 | 26.06% | +4.53 | 0.904 | $93.66 |
| 2025-07-09 | 25.02% | +4.55 | — | $93.05 |
| 2025-07-08 | 25.81% | +4.69 | 0.911 | $92.69 |
| 2025-07-07 | — | — | — | $93.25 |
| 2025-07-03 | 24.81% | +4.85 | 0.921 | $92.43 |
| 2025-07-02 | — | — | — | $92.09 |
| 2025-07-01 | — | — | — | $90.65 |
| 2025-06-30 | — | — | — | $91.11 |
| 2025-06-27 | — | — | — | $91.18 |
| 2025-06-26 | 28.59% | +1.92 | 0.861 | $90.04 |
| 2025-06-25 | 25.75% | +3.73 | 0.915 | $90.00 |
| 2025-06-24 | — | — | — | $91.20 |
| 2025-06-23 | — | — | — | $89.63 |
| 2025-06-20 | — | — | — | $91.62 |
| 2025-06-18 | 27.22% | +4.14 | 0.924 | $91.60 |
| 2025-06-17 | — | — | — | $89.77 |
| 2025-06-16 | — | — | — | $90.49 |
| 2025-06-13 | — | — | — | $88.60 |
| 2025-06-12 | 22.71% | +3.64 | 1.029 | $89.71 |
| 2025-06-11 | — | — | — | $89.56 |
| 2025-06-10 | — | — | — | $90.00 |
| 2025-06-09 | 20.19% | +2.50 | 1.140 | $90.01 |
| 2025-06-06 | 20.79% | +4.40 | 1.131 | $90.32 |
| 2025-06-05 | 24.47% | +5.22 | 0.989 | $88.58 |
| 2025-06-04 | 21.18% | +4.64 | 1.160 | $88.33 |
| 2025-06-03 | 20.24% | +4.74 | 1.165 | $89.32 |
| 2025-06-02 | 22.02% | +5.83 | 1.085 | $88.98 |
| 2025-05-30 | 23.15% | +6.29 | 1.072 | $88.61 |
| 2025-05-29 | 23.79% | +5.61 | 1.218 | $89.07 |
| 2025-05-28 | 23.82% | +5.13 | 1.065 | $88.80 |
| 2025-05-27 | 22.23% | +4.72 | 1.087 | $90.23 |
| 2025-05-23 | 25.49% | +4.36 | 1.044 | $89.09 |
| 2025-05-22 | 23.12% | +4.66 | 1.125 | $89.18 |
| 2025-05-21 | 24.29% | +5.61 | 1.145 | $88.90 |
| 2025-05-20 | — | — | — | $90.10 |
| 2025-05-19 | 21.91% | +4.71 | 1.134 | $90.33 |
| 2025-05-16 | — | — | — | $90.07 |
| 2025-05-15 | — | — | — | $89.39 |
| 2025-05-14 | 21.88% | +4.94 | 1.088 | $87.94 |
| 2025-05-13 | — | — | — | $87.93 |
| 2025-05-12 | — | — | — | $87.10 |
| 2025-05-09 | 24.26% | +4.94 | 1.040 | $85.91 |
| 2025-05-08 | 23.68% | +4.98 | 0.972 | $85.50 |
| 2025-05-07 | — | — | — | $83.95 |
| 2025-05-06 | — | — | — | $82.91 |
| 2025-05-05 | — | — | — | $82.18 |
| 2025-05-02 | — | — | — | $82.14 |
| 2025-05-01 | — | — | — | $80.91 |
图表覆盖存档中的全部交易日,共 285 个。表格列出最近的 120 个。
25-delta 风险逆转
最近 285 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
149d (2026-03-20)
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 | 149d |
|---|---|
| 20Δ 看涨 | 23.23% |
| 25Δ 看涨 | 23.24% |
| 30Δ 看涨 | 23.33% |
| 35Δ 看涨 | 23.76% |
| 40Δ 看涨 | 24.47% |
| 45Δ 看涨 | 26.13% |
| ATM | 27.56% |
| 45Δ 看跌 | 27.01% |
| 40Δ 看跌 | 26.20% |
| 35Δ 看跌 | 26.81% |
| 30Δ 看跌 | 28.86% |
| 25Δ 看跌 | 30.35% |
| 20Δ 看跌 | 30.24% |
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 |
|---|---|---|---|---|---|---|---|---|
| 2026-03-20 | 149 | $108.53 | 27.56% | 30.35% | 23.24% | +7.11 | -0.77 | 9 |
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
1 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 |
|---|---|---|---|---|---|
| 2026-03-20 | 149 天 | $108.53 | 27.56% | $110.22 | 9 |
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
- —
- 60 天
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- 90 天
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- 180 天
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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 285 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。