ETF · 期权分析
SOXL 期权分析
数据截至 2026年11月12日(收盘)
- 标的收盘价
- $65.53
- 30D ATM IV
- 148.94%
- IV 百分位 · 1年
- 第 97
- 25Δ 风险逆转
- +11.45
- 期限斜率 90/30
- 0.869
▼ -6.11 pts 较前一交易日
概览
SOXL 期权当前计入的 30 天平值隐含波动率为 148.9%,相当于未来一个月约 ±42.7% 的波动。这高于它过去一年 252 个交易日中 97% 的读数。
它的 25-delta put 比 call 的隐含波动率高 11.45 个波动率点,大致处在它自己过去一年区间的中部。
期限结构倒挂:90 天波动率比 30 天低 13%。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ⓘ
- 148.94%
- 25-delta 风险逆转ⓘ
- +11.45
- 25-delta 蝶式价差ⓘ
- -2.69
- 期限结构斜率ⓘ
- 0.869
对应 30 天内约 ±42.7% 的波动，平常一天约 ±9.4%。
高于过去一年中 97% 的读数。
距平值同样远时，put 比 call的隐含波动率高 11.45 个点。
高于过去一年中 42% 的读数。
两翼的隐含波动率比平值低 2.69 个点。
90 天的隐含波动率比 30 天低 13%。
高于过去一年中 7% 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
- 97%
- IV 排名,1 年
- 67%
- IV 百分位,2 年
- 98%
- IV 排名,2 年
- 69%
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
- $65.53
- 30 天隐含远期价
- $64.69
- 60 天 ATM IV
- 134.23%
- 90 天 ATM IV
- 129.48%
- 180 天 ATM IV
- 125.56%
- 使用的到期日数
- 10
- 总未平仓量
- 1,498,783
- Put / call 未平仓量比
- 1.37
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 335 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 |
|---|---|---|---|---|
| 2026-11-12 | 148.94% | +11.45 | 0.869 | $65.53 |
| 2026-11-10 | 155.04% | +18.53 | 0.867 | $56.06 |
| 2026-11-09 | 141.58% | +20.18 | 0.915 | $56.20 |
| 2026-11-06 | 162.20% | +29.95 | 0.874 | $45.97 |
| 2026-11-05 | 187.06% | +27.57 | — | $40.87 |
| 2026-11-04 | 141.54% | +11.42 | 0.883 | $66.68 |
| 2026-11-03 | 142.48% | +16.42 | 0.890 | $73.12 |
| 2026-11-02 | 144.52% | +17.60 | 0.886 | $68.17 |
| 2026-10-30 | 136.55% | +18.52 | 0.919 | $77.05 |
| 2026-10-29 | 120.53% | +7.20 | 0.959 | $102.39 |
| 2026-10-28 | 120.04% | +8.16 | 0.941 | $107.35 |
| 2026-10-27 | 116.94% | +12.65 | 0.973 | $101.08 |
| 2026-10-26 | 123.54% | +10.98 | 0.930 | $90.50 |
| 2026-10-23 | 127.90% | +11.69 | 0.918 | $83.56 |
| 2026-10-22 | 137.30% | +9.76 | 0.882 | $82.11 |
| 2026-10-21 | 117.98% | +12.93 | 0.950 | $103.24 |
| 2026-10-20 | 118.89% | +11.90 | 0.942 | $97.55 |
| 2026-10-19 | 115.93% | +12.04 | 0.957 | $98.65 |
| 2026-10-16 | 122.95% | +9.07 | 0.913 | $93.67 |
| 2026-10-15 | 118.74% | +9.62 | 0.933 | $107.35 |
| 2026-10-14 | 117.27% | +9.79 | 0.936 | $110.54 |
| 2026-10-13 | 106.66% | +13.80 | 0.985 | $127.57 |
| 2026-10-09 | 106.18% | +8.91 | 1.018 | $139.76 |
| 2026-10-08 | 113.12% | +6.25 | 0.980 | $142.52 |
| 2026-10-07 | 106.65% | +3.96 | 1.002 | $158.91 |
| 2026-10-06 | 103.07% | +5.24 | 1.041 | $164.26 |
| 2026-10-05 | 106.48% | +5.22 | 1.039 | $164.27 |
| 2026-10-02 | 109.16% | +7.04 | 1.048 | $163.71 |
| 2026-10-01 | 115.69% | +5.50 | 1.031 | $153.69 |
| 2026-09-30 | 114.71% | +5.37 | 1.047 | $147.86 |
| 2026-09-29 | 113.56% | +4.02 | 1.039 | $147.00 |
| 2026-09-28 | 112.78% | +7.40 | 1.062 | $142.29 |
| 2026-09-25 | 113.88% | +4.39 | 1.057 | $151.45 |
| 2026-09-24 | 109.73% | +7.08 | 1.094 | $146.33 |
| 2026-09-23 | 110.09% | +12.04 | 1.098 | $146.25 |
| 2026-09-22 | 114.89% | +4.60 | 1.028 | $151.95 |
| 2026-09-21 | 114.89% | +5.17 | 1.025 | $141.93 |
| 2026-09-18 | 105.99% | +4.44 | 1.040 | $123.67 |
| 2026-09-17 | 104.95% | +9.10 | 1.065 | $114.82 |
| 2026-09-16 | 111.09% | +10.03 | 1.029 | $103.97 |
| 2026-09-15 | 104.15% | +9.71 | 1.069 | $102.32 |
| 2026-09-14 | 105.43% | +8.92 | 1.060 | $101.13 |
| 2026-09-11 | 104.80% | +5.49 | 1.084 | $121.82 |
| 2026-09-10 | 109.99% | +9.54 | 1.075 | $115.76 |
| 2026-09-09 | 115.62% | +3.98 | 1.023 | $125.87 |
| 2026-09-08 | 117.28% | +6.14 | 1.042 | $123.27 |
| 2026-09-04 | 109.11% | +7.50 | 1.035 | $117.28 |
| 2026-09-03 | 101.58% | +14.00 | 1.073 | $106.74 |
| 2026-09-02 | 105.53% | +8.51 | 1.065 | $106.35 |
| 2026-09-01 | 106.09% | +6.98 | 1.062 | $105.91 |
| 2026-08-31 | 104.22% | +10.09 | 1.102 | $112.79 |
| 2026-08-28 | 113.03% | +9.26 | 1.050 | $111.34 |
| 2026-08-27 | 111.71% | +8.63 | 1.060 | $123.05 |
| 2026-08-26 | 119.30% | +7.38 | 1.015 | $116.60 |
| 2025-10-22 | 110.37% | +16.43 | — | $38.39 |
| 2025-10-21 | 107.67% | +5.50 | — | $41.51 |
| 2025-10-20 | 101.93% | +16.30 | — | $42.24 |
| 2025-10-17 | 111.50% | +16.80 | 0.892 | $40.29 |
| 2025-10-16 | 111.11% | +15.08 | 0.927 | $40.57 |
| 2025-10-15 | 111.91% | +5.63 | 0.921 | $39.98 |
| 2025-10-14 | 110.16% | +12.84 | 0.958 | $36.63 |
| 2025-10-10 | 106.42% | +9.33 | 0.925 | $34.21 |
| 2025-10-09 | 92.44% | +6.36 | 0.937 | $42.24 |
| 2025-10-08 | 102.30% | +1.53 | 0.919 | $42.78 |
| 2025-10-07 | 93.33% | +0.78 | 0.914 | $38.83 |
| 2025-10-06 | 94.59% | +9.94 | 0.974 | $41.71 |
| 2025-10-03 | 94.77% | +2.37 | 0.936 | $38.23 |
| 2025-10-02 | 91.30% | +5.46 | 0.959 | $39.08 |
| 2025-10-01 | 84.46% | +6.72 | 1.052 | $36.86 |
| 2025-09-30 | 86.17% | +6.93 | 1.010 | $34.84 |
| 2025-09-29 | 83.41% | +5.45 | 1.015 | $34.02 |
| 2025-09-26 | 82.84% | +4.72 | 1.025 | $34.02 |
| 2025-09-25 | 84.18% | +14.85 | 1.034 | $33.85 |
| 2025-09-24 | 86.89% | +1.81 | 0.948 | $34.20 |
| 2025-09-23 | 87.22% | +6.13 | 0.953 | $34.30 |
| 2025-09-22 | 90.34% | +0.57 | 0.981 | $34.43 |
| 2025-09-19 | 72.58% | +9.38 | 1.084 | $33.02 |
| 2025-09-18 | 82.09% | +13.37 | 1.002 | $33.64 |
| 2025-09-17 | 78.82% | +5.34 | 1.107 | $30.47 |
| 2025-09-16 | 79.50% | +11.04 | 1.038 | $30.48 |
| 2025-09-15 | 80.62% | +10.45 | 0.988 | $30.00 |
| 2025-09-12 | 71.11% | +12.42 | 1.154 | $29.30 |
| 2025-09-11 | 70.33% | +11.60 | 1.116 | $29.17 |
| 2025-09-10 | 72.58% | +16.23 | 1.135 | $28.60 |
| 2025-09-09 | 81.76% | +8.46 | 0.995 | $27.18 |
| 2025-09-08 | 70.94% | +13.89 | 1.122 | $27.08 |
| 2025-09-05 | 76.45% | +12.89 | 1.061 | $26.45 |
| 2025-09-04 | 77.13% | +14.16 | 1.083 | $25.65 |
| 2025-09-03 | 80.17% | +14.35 | 1.017 | $24.91 |
| 2025-09-02 | 82.74% | +11.70 | 1.021 | $25.25 |
| 2025-08-29 | 77.51% | +13.44 | 1.118 | $26.04 |
| 2025-08-28 | 79.45% | +8.52 | 1.001 | $28.53 |
| 2025-08-27 | 82.14% | +18.77 | 0.979 | $28.18 |
| 2025-08-26 | 88.01% | +8.67 | 0.946 | $27.94 |
| 2025-08-25 | 76.90% | +12.93 | 1.181 | $27.30 |
| 2025-08-22 | 79.90% | +14.65 | 1.014 | $27.45 |
| 2025-08-21 | 84.36% | +14.38 | 0.994 | $25.35 |
| 2025-08-20 | 81.81% | +14.06 | 0.994 | $25.80 |
| 2025-08-19 | 81.96% | +12.84 | 1.007 | $26.24 |
| 2025-08-18 | 78.84% | +9.67 | 1.015 | $27.53 |
| 2025-08-15 | 76.97% | +14.23 | 1.065 | $27.37 |
| 2025-08-14 | 73.18% | +15.93 | 1.097 | $29.42 |
| 2025-08-13 | 72.26% | +14.51 | 1.077 | $29.27 |
| 2025-08-12 | 77.96% | +11.11 | 1.019 | $28.00 |
| 2025-08-11 | 80.62% | +11.89 | 1.009 | $25.61 |
| 2025-08-08 | 80.30% | +10.39 | 0.998 | $25.71 |
| 2025-08-07 | 79.74% | +16.64 | 1.030 | $25.00 |
| 2025-08-06 | 82.29% | +13.60 | 1.001 | $23.99 |
| 2025-08-05 | 82.15% | +13.08 | 1.021 | $24.52 |
| 2025-08-04 | 82.17% | +17.01 | 1.009 | $25.00 |
| 2025-08-01 | 93.39% | +16.93 | 0.951 | $24.08 |
| 2025-07-31 | 90.26% | +7.33 | 0.929 | $24.98 |
| 2025-07-30 | 86.93% | +12.64 | 0.933 | $27.61 |
| 2025-07-29 | 82.15% | +15.24 | 0.981 | $27.03 |
| 2025-07-28 | 79.08% | +13.40 | 1.003 | $26.88 |
| 2025-07-25 | 77.92% | +8.77 | 1.012 | $25.60 |
| 2025-07-24 | 79.33% | +11.75 | 1.014 | $25.62 |
| 2025-07-23 | 78.19% | +14.03 | 1.063 | $25.78 |
| 2025-07-22 | 87.60% | +12.92 | 0.956 | $26.32 |
| 2025-07-21 | 86.43% | +11.83 | 0.945 | $27.50 |
图表覆盖存档中的全部交易日,共 335 个。表格列出最近的 120 个。
25-delta 风险逆转
最近 335 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
1d (2026-11-13) · 8d (2026-11-20) · 15d (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 | 1d | 8d | 15d |
|---|---|---|---|
| 5Δ 看涨 | 174.89% | 164.59% | 145.75% |
| 10Δ 看涨 | 175.43% | 163.92% | 145.10% |
| 15Δ 看涨 | 176.55% | 164.72% | 144.40% |
| 20Δ 看涨 | 178.64% | 165.67% | 143.16% |
| 25Δ 看涨 | 179.95% | 166.98% | 143.14% |
| 30Δ 看涨 | 182.08% | 168.87% | 146.51% |
| 35Δ 看涨 | 184.08% | 170.52% | 148.59% |
| 40Δ 看涨 | 186.04% | 172.01% | 144.58% |
| 45Δ 看涨 | 188.82% | 173.81% | 148.38% |
| ATM | 190.55% | 176.12% | 149.51% |
| 45Δ 看跌 | 193.42% | 177.60% | 152.21% |
| 40Δ 看跌 | 196.32% | 179.62% | 155.26% |
| 35Δ 看跌 | 199.65% | 182.46% | 157.52% |
| 30Δ 看跌 | 203.69% | 186.56% | 160.50% |
| 25Δ 看跌 | 208.05% | 189.73% | 164.55% |
| 20Δ 看跌 | 213.41% | 194.46% | 168.08% |
| 15Δ 看跌 | 221.46% | 200.59% | 171.16% |
| 10Δ 看跌 | 234.77% | 208.94% | 175.42% |
| 5Δ 看跌 | 259.63% | 226.80% | 185.64% |
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 | 1 | $64.76 | 190.55% | 208.05% | 179.95% | +28.10 | +3.45 | 33 |
| 2026-11-20 | 8 | $64.75 | 176.12% | 189.73% | 166.98% | +22.75 | +2.24 | 65 |
| 2026-11-27 | 15 | $64.82 | 149.51% | 164.55% | 143.14% | +21.41 | +4.34 | 60 |
| 2026-12-04 | 22 | $65.35 | 143.90% | 159.63% | 137.01% | +22.62 | +4.42 | 75 |
| 2026-12-11 | 29 | $64.65 | 149.78% | 151.81% | 141.40% | +10.41 | -3.18 | 84 |
| 2026-12-18 | 36 | $64.92 | 144.78% | 152.73% | 136.20% | +16.54 | -0.32 | 99 |
| 2026-12-24 | 42 | $65.18 | 141.68% | 149.53% | 136.20% | +13.33 | +1.19 | 68 |
| 2027-01-15 | 64 | $65.15 | 133.11% | 142.91% | 127.66% | +15.25 | +2.17 | 104 |
| 2027-02-19 | 99 | $64.87 | 128.65% | 136.77% | 126.37% | +10.40 | +2.91 | 56 |
| 2027-05-21 | 190 | $65.10 | 125.36% | 131.49% | 123.44% | +8.05 | +2.10 | 105 |
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
10 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 | 1 天 | $64.76 | 190.55% | $65.08 | 33 |
| 2026-11-20 | 8 天 | $64.75 | 176.12% | $66.99 | 65 |
| 2026-11-27 | 15 天 | $64.82 | 149.51% | $67.87 | 60 |
| 2026-12-04 | 22 天 | $65.35 | 143.90% | $69.56 | 75 |
| 2026-12-11 | 29 天 | $64.65 | 149.78% | $70.68 | 84 |
| 2026-12-18 | 36 天 | $64.92 | 144.78% | $72.00 | 99 |
| 2026-12-24 | 42 天 | $65.18 | 141.68% | $73.15 | 68 |
| 2027-01-15 | 64 天 | $65.15 | 133.11% | $76.10 | 104 |
| 2027-02-19 | 99 天 | $64.87 | 128.65% | $81.20 | 56 |
| 2027-05-21 | 190 天 | $65.10 | 125.36% | $98.00 | 105 |
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
- 148.94%
- 60 天
- 134.23%
- 90 天
- 129.48%
- 180 天
- 125.56%
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 335 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。