ETF · 期权分析
DIA 期权分析
数据截至 2026年11月10日(收盘)
- 标的收盘价
- $521.73
- 30D ATM IV
- 14.62%
- IV 百分位 · 1年
- 第 73
- 25Δ 风险逆转
- +3.42
- 期限斜率 90/30
- 1.025
▼ -0.27 pts 较前一交易日
本交易日部分指标不可用
概览
DIA 期权当前计入的 30 天平值隐含波动率为 14.6%,相当于未来一个月约 ±4.2% 的波动。这高于它过去一年 252 个交易日中 73% 的读数。
它的 25-delta put 比 call 的隐含波动率高 3.42 个波动率点,大致处在它自己过去一年区间的中部。
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ⓘ
- 14.62%
- 25-delta 风险逆转ⓘ
- +3.42
- 25-delta 蝶式价差ⓘ
- +0.46
- 期限结构斜率ⓘ
- 1.025
对应 30 天内约 ±4.2% 的波动，平常一天约 ±0.9%。
高于过去一年中 73% 的读数。
距平值同样远时，put 比 call的隐含波动率高 3.42 个点。
高于过去一年中 46% 的读数。
两翼的隐含波动率比平值高 0.46 个点。
90 天的隐含波动率比 30 天高 2%。
高于过去一年中 36% 的读数。
30 天隐含波动率处在什么位置
对比此前 252 个交易日(一年窗口)
- IV 百分位,1 年
- 73%
- IV 排名,1 年
- 15%
- IV 百分位,2 年
- 75%
- IV 排名,2 年
- 15%
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
- $521.73
- 30 天隐含远期价
- $522.70
- 60 天 ATM IV
- 14.70%
- 90 天 ATM IV
- 14.99%
- 180 天 ATM IV
- —
- 使用的到期日数
- 11
- 总未平仓量
- 420,546
- Put / call 未平仓量比
- 1.51
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 341 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 | 14.62% | +3.42 | 1.025 | $521.73 |
| 2026-11-09 | 14.89% | +3.10 | 1.016 | $523.33 |
| 2026-11-06 | 17.67% | +5.71 | 0.949 | $512.22 |
| 2026-11-05 | 18.48% | +6.79 | 0.918 | $514.27 |
| 2026-11-04 | 13.43% | +2.05 | 1.049 | $533.11 |
| 2026-11-03 | 15.10% | +3.96 | 0.996 | $517.06 |
| 2026-11-02 | 15.59% | +4.19 | 0.984 | $519.34 |
| 2026-10-30 | 14.62% | +4.30 | 1.024 | $517.13 |
| 2026-10-29 | 12.92% | +2.94 | 1.096 | $522.73 |
| 2026-10-28 | 13.32% | +2.71 | 1.075 | $524.68 |
| 2026-10-27 | 13.84% | +2.92 | 1.059 | $523.28 |
| 2026-10-26 | 14.33% | +3.33 | 1.032 | $522.97 |
| 2026-10-23 | 15.02% | +4.08 | 1.004 | $521.37 |
| 2026-10-22 | 14.84% | +3.47 | 0.996 | $527.89 |
| 2026-10-21 | 13.48% | +2.52 | 1.043 | $527.70 |
| 2026-10-20 | 13.75% | +2.96 | 1.023 | $524.36 |
| 2026-10-19 | 13.74% | +3.30 | 1.035 | $518.92 |
| 2026-10-16 | 14.32% | +3.80 | 1.010 | $519.10 |
| 2026-10-15 | 13.17% | +2.36 | 1.057 | $521.18 |
| 2026-10-14 | 13.91% | +2.73 | 1.042 | $515.63 |
| 2026-10-13 | 13.36% | +1.93 | 1.062 | $516.21 |
| 2026-10-09 | 13.19% | +1.87 | 1.070 | $516.11 |
| 2026-10-08 | 13.64% | +2.41 | 1.045 | $511.65 |
| 2026-10-07 | 13.59% | +1.95 | 1.045 | $511.02 |
| 2026-10-06 | 13.40% | +1.49 | 1.054 | $514.56 |
| 2026-10-05 | 13.90% | +2.10 | 1.036 | $512.11 |
| 2026-10-02 | 13.43% | +2.38 | 1.058 | $511.10 |
| 2026-10-01 | 14.15% | +2.76 | 1.019 | $508.62 |
| 2026-09-30 | 13.78% | +2.58 | 1.024 | $508.55 |
| 2026-09-29 | 13.69% | +2.36 | 1.032 | $512.88 |
| 2026-09-28 | 13.66% | +2.44 | 1.035 | $514.02 |
| 2026-09-25 | 12.59% | +2.27 | 1.102 | $517.49 |
| 2026-09-24 | 13.26% | +2.60 | 1.079 | $512.68 |
| 2026-09-23 | 13.08% | +2.56 | 1.090 | $514.30 |
| 2026-09-22 | 12.91% | +1.99 | 1.102 | $518.00 |
| 2026-09-21 | 12.40% | +2.03 | 1.119 | $519.78 |
| 2026-09-18 | 12.19% | +2.89 | 1.138 | $515.88 |
| 2026-09-17 | 12.88% | +2.88 | 1.099 | $518.35 |
| 2026-09-16 | 14.57% | +4.33 | 1.023 | $515.22 |
| 2026-09-15 | 13.70% | +3.46 | 1.047 | $521.23 |
| 2026-09-14 | 13.42% | +3.20 | 1.060 | $524.49 |
| 2026-09-11 | 12.74% | +2.81 | 1.095 | $525.79 |
| 2026-09-10 | 14.31% | +3.58 | 1.024 | $520.75 |
| 2026-09-09 | 13.48% | +2.81 | 1.053 | $524.07 |
| 2026-09-08 | 12.75% | +2.37 | 1.087 | $528.03 |
| 2026-09-04 | 11.60% | +1.89 | 1.143 | $534.08 |
| 2026-09-03 | 11.67% | +1.69 | 1.131 | $536.93 |
| 2026-09-02 | 11.83% | +2.70 | 1.121 | $530.62 |
| 2026-09-01 | 12.40% | +3.24 | 1.096 | $527.75 |
| 2026-08-31 | 11.30% | +2.41 | 1.151 | $531.57 |
| 2026-08-28 | 11.07% | +2.16 | 1.186 | $535.06 |
| 2026-08-27 | 11.35% | +2.05 | 1.176 | $535.22 |
| 2026-08-26 | 12.01% | +2.37 | 1.131 | $534.23 |
| 2026-08-25 | 12.31% | +2.55 | 1.124 | $535.24 |
| 2026-08-24 | 12.44% | +2.76 | 1.118 | $533.65 |
| 2026-08-21 | 12.06% | +2.74 | 1.144 | $532.22 |
| 2026-08-20 | 12.73% | +3.12 | 1.103 | $527.51 |
| 2025-10-22 | 13.75% | +5.13 | — | $465.78 |
| 2025-10-21 | 13.24% | +4.42 | 1.043 | $469.22 |
| 2025-10-20 | 13.28% | +4.45 | 1.048 | $467.02 |
| 2025-10-17 | 14.95% | +5.50 | 0.997 | $461.78 |
| 2025-10-16 | 15.25% | +8.21 | 1.080 | $459.56 |
| 2025-10-15 | 15.42% | +5.28 | 0.986 | $462.71 |
| 2025-10-14 | 15.76% | +5.31 | 0.974 | $462.71 |
| 2025-10-10 | 16.65% | +5.89 | 0.963 | $454.87 |
| 2025-10-09 | 13.56% | +3.74 | 1.041 | $463.50 |
| 2025-10-08 | 13.32% | +3.64 | 1.045 | $466.07 |
| 2025-10-07 | 13.71% | +3.96 | 1.027 | $465.97 |
| 2025-10-06 | 13.29% | +3.51 | 1.039 | $466.84 |
| 2025-10-03 | 13.17% | +3.83 | 1.038 | $467.51 |
| 2025-10-02 | 13.19% | +3.83 | 1.036 | $465.11 |
| 2025-10-01 | 13.09% | +3.64 | 1.044 | $464.26 |
| 2025-09-30 | 13.09% | +3.62 | 1.044 | $463.74 |
| 2025-09-29 | 13.03% | +3.56 | 1.050 | $463.04 |
| 2025-09-26 | 12.47% | +3.31 | 1.084 | $462.28 |
| 2025-09-25 | 13.28% | +3.61 | 1.066 | $459.43 |
| 2025-09-24 | 13.03% | +3.41 | 1.080 | $461.02 |
| 2025-09-23 | 13.08% | +3.39 | 1.075 | $462.87 |
| 2025-09-22 | 12.79% | +3.10 | 1.080 | $463.67 |
| 2025-09-19 | 12.34% | +3.10 | 1.098 | $462.94 |
| 2025-09-18 | 12.70% | +2.88 | 1.076 | $462.63 |
| 2025-09-17 | 12.87% | +2.88 | 1.068 | $461.26 |
| 2025-09-16 | 13.04% | +2.99 | 1.053 | $458.78 |
| 2025-09-15 | 12.58% | +2.81 | 1.070 | $460.07 |
| 2025-09-12 | 11.85% | +2.61 | 1.105 | $459.32 |
| 2025-09-11 | 11.87% | +2.52 | 1.096 | $461.92 |
| 2025-09-10 | 11.81% | +3.17 | 1.093 | $455.93 |
| 2025-09-09 | 11.52% | +3.09 | 1.102 | $458.01 |
| 2025-09-08 | 11.64% | +3.31 | 1.104 | $456.20 |
| 2025-09-05 | 11.51% | +3.47 | 1.110 | $454.99 |
| 2025-09-04 | 11.53% | +3.38 | 1.095 | $457.05 |
| 2025-09-03 | 12.13% | +4.12 | 1.069 | $453.26 |
| 2025-09-02 | 12.48% | +4.36 | 1.058 | $453.61 |
| 2025-08-29 | 11.39% | +3.53 | 1.120 | $456.09 |
| 2025-08-28 | 11.26% | +3.12 | 1.114 | $456.79 |
| 2025-08-27 | 11.39% | +3.32 | 1.109 | $456.03 |
| 2025-08-26 | 11.35% | +3.10 | 1.108 | $454.49 |
| 2025-08-25 | 11.58% | +3.20 | 1.100 | $453.07 |
| 2025-08-22 | 11.17% | +2.74 | 1.110 | $456.64 |
| 2025-08-21 | 12.72% | +3.72 | 1.051 | $447.95 |
| 2025-08-20 | 12.24% | +3.41 | 1.072 | $449.36 |
| 2025-08-19 | 12.21% | +3.39 | 1.071 | $449.29 |
| 2025-08-18 | 11.66% | +2.75 | 1.089 | $449.05 |
| 2025-08-15 | 11.34% | +2.56 | 1.115 | $449.53 |
| 2025-08-14 | 11.41% | +3.08 | 1.114 | $449.16 |
| 2025-08-13 | 11.32% | +2.87 | 1.103 | $449.42 |
| 2025-08-12 | 11.54% | +2.92 | 1.103 | $444.68 |
| 2025-08-11 | 12.69% | +3.62 | 1.053 | $440.01 |
| 2025-08-08 | 11.60% | +3.06 | 1.103 | $441.92 |
| 2025-08-07 | 12.88% | +4.03 | — | $439.72 |
| 2025-08-06 | 12.68% | +4.01 | 1.048 | $441.97 |
| 2025-08-05 | 13.46% | +4.40 | — | $441.14 |
| 2025-08-04 | 12.88% | +4.23 | 1.042 | $441.81 |
| 2025-08-01 | 14.86% | +5.19 | 0.984 | $435.72 |
| 2025-07-31 | 12.96% | +4.09 | — | $441.33 |
| 2025-07-30 | 12.03% | +3.23 | — | $444.76 |
| 2025-07-29 | 12.42% | +3.59 | 1.046 | $446.48 |
| 2025-07-28 | 11.96% | +3.10 | — | $448.34 |
| 2025-07-25 | 11.80% | +3.10 | 1.077 | $449.02 |
| 2025-07-24 | 12.24% | +3.28 | — | $447.11 |
图表覆盖存档中的全部交易日,共 341 个。表格列出最近的 120 个。
25-delta 风险逆转
最近 341 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
3d (2026-11-13) · 10d (2026-11-20) · 17d (2026-11-27)
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 | 3d | 10d | 17d |
|---|---|---|---|
| 5Δ 看涨 | 14.72% | 13.41% | 12.50% |
| 10Δ 看涨 | 14.71% | 13.45% | 12.51% |
| 15Δ 看涨 | 14.84% | 13.66% | 12.65% |
| 20Δ 看涨 | 14.97% | 13.80% | 12.79% |
| 25Δ 看涨 | 15.11% | 13.98% | 12.93% |
| 30Δ 看涨 | 15.31% | 14.15% | 13.11% |
| 35Δ 看涨 | 15.53% | 14.37% | 13.32% |
| 40Δ 看涨 | 15.75% | 14.60% | 13.54% |
| 45Δ 看涨 | 16.01% | 14.89% | 13.79% |
| ATM | 16.25% | 15.21% | 14.10% |
| 45Δ 看跌 | 16.48% | 15.49% | 14.35% |
| 40Δ 看跌 | 16.72% | 15.87% | 14.63% |
| 35Δ 看跌 | 16.96% | 16.29% | 15.04% |
| 30Δ 看跌 | 17.28% | 16.66% | 15.48% |
| 25Δ 看跌 | 17.68% | 17.14% | 16.02% |
| 20Δ 看跌 | 18.21% | 17.90% | 16.72% |
| 15Δ 看跌 | 18.83% | 18.86% | 17.70% |
| 10Δ 看跌 | 19.73% | 20.27% | 19.15% |
| 5Δ 看跌 | 21.58% | 23.33% | 22.31% |
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 |
|---|---|---|---|---|---|---|---|---|
| 2026-11-13 | 3 | $521.88 | 16.25% | 17.68% | 15.11% | +2.57 | +0.14 | 59 |
| 2026-11-20 | 10 | $521.82 | 15.21% | 17.14% | 13.98% | +3.17 | +0.34 | 99 |
| 2026-11-27 | 17 | $521.97 | 14.10% | 16.02% | 12.93% | +3.09 | +0.37 | 83 |
| 2026-12-04 | 24 | $522.37 | 14.34% | 16.41% | 13.15% | +3.26 | +0.44 | 82 |
| 2026-12-11 | 31 | $522.75 | 14.66% | 16.84% | 13.40% | +3.44 | +0.46 | 88 |
| 2026-12-18 | 38 | $522.67 | 14.84% | 17.07% | 13.37% | +3.70 | +0.39 | 119 |
| 2026-12-24 | 44 | $522.70 | 14.60% | 16.91% | 13.15% | +3.77 | +0.43 | 53 |
| 2026-12-31 | 51 | $523.00 | 14.54% | 16.80% | 13.04% | +3.76 | +0.39 | 155 |
| 2027-01-15 | 66 | $523.69 | 14.79% | 16.92% | 13.15% | +3.77 | +0.24 | 54 |
| 2027-03-19 | 129 | $526.90 | 15.15% | 17.66% | 13.46% | +4.20 | +0.41 | 56 |
| 2027-03-31 | 141 | $527.67 | 14.77% | 17.72% | 13.74% | +3.98 | +0.97 | 40 |
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
11 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 |
|---|---|---|---|---|---|
| 2026-11-13 | 3 天 | $521.88 | 16.25% | $521.94 | 59 |
| 2026-11-20 | 10 天 | $521.82 | 15.21% | $521.99 | 99 |
| 2026-11-27 | 17 天 | $521.97 | 14.10% | $522.22 | 83 |
| 2026-12-04 | 24 天 | $522.37 | 14.34% | $522.73 | 82 |
| 2026-12-11 | 31 天 | $522.75 | 14.66% | $523.23 | 88 |
| 2026-12-18 | 38 天 | $522.67 | 14.84% | $523.27 | 119 |
| 2026-12-24 | 44 天 | $522.70 | 14.60% | $523.37 | 53 |
| 2026-12-31 | 51 天 | $523.00 | 14.54% | $523.77 | 155 |
| 2027-01-15 | 66 天 | $523.69 | 14.79% | $524.73 | 54 |
| 2027-03-19 | 129 天 | $526.90 | 15.15% | $529.04 | 56 |
| 2027-03-31 | 141 天 | $527.67 | 14.77% | $529.90 | 40 |
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
- 14.62%
- 60 天
- 14.70%
- 90 天
- 14.99%
- 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 341 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。