ETF · 期权分析
SQQQ 期权分析
数据截至 2026年11月12日(收盘)
- 标的收盘价
- $40.93
- 30D ATM IV
- 72.83%
- IV 百分位 · 1年
- 第 83
- 25Δ 风险逆转
- -21.66
- 期限斜率 90/30
- 1.023
▼ -7.62 pts 较前一交易日
本交易日部分指标不可用
概览
SQQQ 期权当前计入的 30 天平值隐含波动率为 72.8%,相当于未来一个月约 ±20.9% 的波动。这高于它过去一年 236 个交易日中 83% 的读数。
它的 25-delta call 比 put 的隐含波动率高 21.66 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ⓘ
- 72.83%
- 25-delta 风险逆转ⓘ
- -21.66
- 25-delta 蝶式价差ⓘ
- +6.78
- 期限结构斜率ⓘ
- 1.023
对应 30 天内约 ±20.9% 的波动，平常一天约 ±4.6%。
高于过去一年中 83% 的读数。
距平值同样远时，call 比 put的隐含波动率高 21.66 个点。
高于过去一年中 25% 的读数。
两翼的隐含波动率比平值高 6.78 个点。
90 天的隐含波动率比 30 天高 2%。
高于过去一年中 10% 的读数。
30 天隐含波动率处在什么位置
对比此前 236 个交易日(一年窗口)
- IV 百分位,1 年
- 83%
- IV 排名,1 年
- 33%
- IV 百分位,2 年
- 86%
- IV 排名,2 年
- 33%
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
- $40.93
- 30 天隐含远期价
- $41.07
- 60 天 ATM IV
- 74.96%
- 90 天 ATM IV
- 74.50%
- 180 天 ATM IV
- —
- 使用的到期日数
- 8
- 总未平仓量
- 366,101
- Put / call 未平仓量比
- 0.32
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 334 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 | 72.83% | -21.66 | 1.023 | $40.93 |
| 2026-11-10 | 80.46% | -21.64 | — | $43.56 |
| 2026-11-09 | 78.07% | -29.84 | — | $42.79 |
| 2026-11-06 | 89.58% | -38.18 | — | $47.70 |
| 2026-11-05 | 99.69% | -32.42 | — | $49.55 |
| 2026-11-04 | 68.14% | -15.18 | 1.096 | $41.56 |
| 2026-11-03 | 88.09% | -26.10 | — | $42.75 |
| 2026-11-02 | 85.87% | -17.34 | — | $43.55 |
| 2026-10-30 | 84.57% | -28.30 | — | $41.83 |
| 2026-10-29 | 65.74% | -17.15 | 1.045 | $37.83 |
| 2026-10-28 | 65.85% | -22.19 | 1.038 | $36.28 |
| 2026-10-27 | 64.29% | -16.62 | 1.075 | $36.93 |
| 2026-10-26 | 72.84% | -21.41 | 0.993 | $38.38 |
| 2026-10-23 | 74.58% | -23.52 | 0.984 | $39.68 |
| 2026-10-22 | 81.08% | -25.92 | 0.927 | $39.60 |
| 2026-10-21 | 65.85% | -16.38 | 1.045 | $36.48 |
| 2026-10-20 | 68.61% | -24.02 | 1.011 | $37.68 |
| 2026-10-19 | 64.03% | -19.97 | 1.088 | $37.52 |
| 2026-10-16 | 71.92% | -25.96 | 0.952 | $38.90 |
| 2026-10-15 | 65.04% | -23.56 | 0.996 | $36.14 |
| 2026-10-14 | 62.53% | -21.34 | 1.069 | $36.00 |
| 2026-10-13 | 57.37% | -16.27 | 1.088 | $33.99 |
| 2026-10-09 | 57.52% | -16.00 | 1.077 | $32.95 |
| 2026-10-08 | 60.88% | -14.60 | 1.106 | $33.37 |
| 2026-10-07 | 54.31% | -12.36 | 1.153 | $32.07 |
| 2026-10-06 | 56.82% | -14.10 | 1.128 | $31.83 |
| 2026-10-05 | 58.12% | -14.31 | 1.136 | $32.25 |
| 2026-10-02 | 58.17% | -14.38 | 1.119 | $33.12 |
| 2026-10-01 | 64.51% | -19.83 | 1.029 | $34.11 |
| 2026-09-30 | 58.38% | -16.59 | 1.099 | $34.41 |
| 2026-09-29 | 58.86% | -17.46 | 1.097 | $34.66 |
| 2026-09-28 | 59.80% | -13.80 | 1.108 | $34.83 |
| 2026-09-25 | 56.29% | -11.04 | 1.184 | $33.75 |
| 2026-09-24 | 57.30% | -15.86 | 1.155 | $34.18 |
| 2026-09-23 | 54.85% | -13.34 | 1.158 | $34.14 |
| 2026-09-22 | 52.76% | -11.03 | 1.173 | $33.77 |
| 2026-09-21 | 53.14% | -14.22 | 1.189 | $34.60 |
| 2026-09-18 | 52.43% | -15.45 | 1.226 | $37.87 |
| 2026-09-17 | 53.29% | -19.36 | 1.219 | $38.53 |
| 2026-09-16 | 61.59% | -23.88 | — | $40.61 |
| 2026-09-15 | 59.98% | -23.51 | 1.117 | $40.62 |
| 2026-09-14 | 58.18% | -18.42 | 1.201 | $39.83 |
| 2026-09-11 | 57.27% | -18.92 | 1.159 | $38.87 |
| 2026-09-10 | 64.27% | -15.92 | 1.068 | $39.90 |
| 2026-09-09 | 60.84% | -16.25 | 1.115 | $38.64 |
| 2026-09-08 | 57.72% | -17.04 | 1.153 | $38.31 |
| 2026-09-04 | 56.12% | -9.85 | 1.088 | $38.18 |
| 2026-09-03 | 56.89% | -18.72 | 1.121 | $38.34 |
| 2026-09-02 | 59.95% | -16.85 | 1.132 | $39.71 |
| 2026-09-01 | 60.05% | -21.74 | 1.047 | $39.97 |
| 2026-08-31 | 58.22% | -16.06 | 1.130 | $38.51 |
| 2026-08-28 | 54.95% | -13.72 | 1.205 | $38.54 |
| 2026-08-27 | 56.01% | -13.01 | 1.173 | $37.78 |
| 2026-08-26 | 51.19% | -12.49 | 1.296 | $39.38 |
| 2025-10-22 | 62.77% | -25.84 | 1.072 | $14.79 |
| 2025-10-21 | 59.31% | -22.02 | 1.110 | $14.35 |
| 2025-10-20 | 61.56% | -22.52 | 1.071 | $14.33 |
| 2025-10-17 | 70.63% | -28.34 | 1.061 | $14.89 |
| 2025-10-16 | 77.42% | -33.23 | 1.007 | $15.17 |
| 2025-10-15 | 68.97% | -29.08 | 1.024 | $15.01 |
| 2025-10-14 | 67.33% | -21.46 | 1.059 | $15.31 |
| 2025-10-10 | 75.24% | -31.57 | 0.967 | $16.03 |
| 2025-10-09 | 54.80% | -19.57 | 1.152 | $14.50 |
| 2025-10-08 | 55.09% | -18.36 | 1.137 | $14.44 |
| 2025-10-07 | 57.50% | -17.93 | 1.129 | $14.95 |
| 2025-10-06 | 55.89% | -18.77 | 1.130 | $14.71 |
| 2025-10-03 | 54.85% | -19.28 | 1.142 | $15.05 |
| 2025-10-02 | 55.16% | -18.99 | 1.122 | $14.84 |
| 2025-10-01 | 54.72% | -17.24 | 1.148 | $15.01 |
| 2025-09-30 | 55.01% | -19.50 | 1.134 | $15.23 |
| 2025-09-29 | 54.74% | -19.51 | 1.136 | $15.34 |
| 2025-09-26 | 53.37% | -19.46 | 1.157 | $15.55 |
| 2025-09-25 | 56.96% | -20.04 | 1.135 | $15.74 |
| 2025-09-24 | 55.64% | -20.27 | 1.145 | $15.53 |
| 2025-09-23 | 55.76% | -18.88 | 1.152 | $15.60 |
| 2025-09-22 | 53.58% | -14.64 | 1.158 | $15.29 |
| 2025-09-19 | 50.94% | -17.04 | 1.183 | $15.55 |
| 2025-09-18 | 51.38% | -17.38 | 1.171 | $15.86 |
| 2025-09-17 | 51.86% | -16.80 | 1.163 | $16.30 |
| 2025-09-16 | 51.93% | -19.51 | 1.160 | $16.19 |
| 2025-09-15 | 50.88% | -19.36 | 1.144 | $16.14 |
| 2025-09-12 | 48.58% | -18.16 | 1.204 | $16.56 |
| 2025-09-11 | 48.92% | -18.17 | 1.196 | $16.76 |
| 2025-09-10 | 50.89% | -20.18 | 1.191 | $17.05 |
| 2025-09-09 | 47.66% | -22.64 | 1.220 | $17.06 |
| 2025-09-08 | 50.85% | -20.59 | 1.154 | $17.20 |
| 2025-09-05 | 51.45% | -20.77 | 1.166 | $17.45 |
| 2025-09-04 | 48.80% | -15.17 | 1.192 | $17.49 |
| 2025-09-03 | 56.83% | -23.36 | 1.085 | $17.99 |
| 2025-09-02 | 60.11% | -23.22 | 1.054 | $18.40 |
| 2025-08-29 | 56.63% | -26.66 | 1.077 | $17.95 |
| 2025-08-28 | 52.66% | -17.33 | 1.103 | $17.31 |
| 2025-08-27 | 55.07% | -16.79 | 1.090 | $17.63 |
| 2025-08-26 | 50.16% | -14.52 | 1.175 | $17.70 |
| 2025-08-25 | 52.24% | -15.60 | 1.137 | $17.92 |
| 2025-08-22 | 49.98% | -13.06 | 1.165 | $17.75 |
| 2025-08-21 | 58.69% | -23.37 | 1.072 | $18.59 |
| 2025-08-20 | 53.67% | -19.63 | 1.178 | $18.33 |
| 2025-08-19 | 55.08% | -21.68 | 1.106 | $18.00 |
| 2025-08-18 | 47.08% | -16.34 | 1.213 | $17.29 |
| 2025-08-15 | 46.41% | -14.74 | 1.236 | $17.27 |
| 2025-08-14 | 45.75% | -15.39 | 1.267 | $17.01 |
| 2025-08-13 | 45.81% | -13.96 | 1.245 | $16.96 |
| 2025-08-12 | 45.88% | -14.64 | 1.276 | $16.98 |
| 2025-08-11 | 49.89% | -16.66 | 1.272 | $17.66 |
| 2025-08-08 | 47.49% | -17.04 | 1.248 | $17.48 |
| 2025-08-07 | 52.18% | -18.70 | 1.177 | $17.96 |
| 2025-08-06 | 52.49% | -19.29 | 1.185 | $18.13 |
| 2025-08-05 | 56.45% | -21.27 | 1.114 | $18.84 |
| 2025-08-04 | 54.68% | -23.13 | 1.151 | $18.45 |
| 2025-08-01 | 58.85% | -30.57 | 1.178 | $19.52 |
| 2025-07-31 | 52.61% | -18.53 | 1.189 | $18.42 |
| 2025-07-30 | 50.86% | -17.51 | 1.191 | $18.10 |
| 2025-07-29 | 49.13% | -19.29 | 1.185 | $18.17 |
| 2025-07-28 | 44.73% | -13.51 | 1.286 | $18.08 |
| 2025-07-25 | 47.21% | -18.58 | 1.231 | $18.25 |
| 2025-07-24 | 49.53% | -13.40 | 1.181 | $18.35 |
| 2025-07-23 | 48.42% | -19.23 | 1.229 | $18.47 |
| 2025-07-22 | 52.47% | -16.37 | 1.166 | $18.71 |
| 2025-07-21 | 50.96% | -14.19 | 1.181 | $18.42 |
图表覆盖存档中的全部交易日,共 334 个。表格列出最近的 120 个。
25-delta 风险逆转
最近 334 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 | 122.63% | 123.18% | — |
| 10Δ 看涨 | 116.80% | 107.40% | 104.22% |
| 15Δ 看涨 | 110.82% | 103.01% | 96.16% |
| 20Δ 看涨 | 107.61% | 98.44% | 89.12% |
| 25Δ 看涨 | 103.08% | 95.36% | 83.20% |
| 30Δ 看涨 | 100.22% | 92.10% | 84.78% |
| 35Δ 看涨 | 98.87% | 89.40% | 74.01% |
| 40Δ 看涨 | 96.56% | 88.30% | 75.76% |
| 45Δ 看涨 | 94.52% | 86.01% | 70.41% |
| ATM | 93.05% | 85.38% | 74.06% |
| 45Δ 看跌 | 91.99% | 84.28% | 73.73% |
| 40Δ 看跌 | 91.33% | 82.10% | 74.93% |
| 35Δ 看跌 | 90.15% | 84.64% | 70.62% |
| 30Δ 看跌 | 87.11% | 76.19% | 69.31% |
| 25Δ 看跌 | 85.15% | 78.17% | 69.37% |
| 20Δ 看跌 | 84.56% | 73.87% | 65.94% |
| 15Δ 看跌 | 84.51% | 72.20% | 63.70% |
| 10Δ 看跌 | 84.33% | 73.26% | 62.27% |
| 5Δ 看跌 | 82.61% | 69.16% | — |
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 | $41.13 | 93.05% | 85.15% | 103.08% | -17.93 | +1.07 | 25 |
| 2026-11-20 | 8 | $41.14 | 85.38% | 78.17% | 95.36% | -17.19 | +1.38 | 36 |
| 2026-11-27 | 15 | $41.14 | 74.06% | 69.37% | 83.20% | -13.83 | +2.23 | 22 |
| 2026-12-04 | 22 | $41.08 | 75.73% | 66.24% | 86.69% | -20.45 | +0.74 | 26 |
| 2026-12-11 | 29 | $41.06 | 72.12% | 69.13% | 91.41% | -22.28 | +8.15 | 18 |
| 2026-12-18 | 36 | $41.15 | 76.18% | 67.09% | 85.60% | -18.52 | +0.16 | 38 |
| 2027-01-15 | 64 | $40.50 | 74.84% | 64.23% | 87.74% | -23.51 | +1.14 | 42 |
| 2027-03-19 | 127 | $40.77 | 74.26% | 65.48% | 92.84% | -27.36 | +4.90 | 26 |
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
8 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 | $41.13 | 93.05% | $41.17 | 25 |
| 2026-11-20 | 8 天 | $41.14 | 85.38% | $41.47 | 36 |
| 2026-11-27 | 15 天 | $41.14 | 74.06% | $41.61 | 22 |
| 2026-12-04 | 22 天 | $41.08 | 75.73% | $41.80 | 26 |
| 2026-12-11 | 29 天 | $41.06 | 72.12% | $41.91 | 18 |
| 2026-12-18 | 36 天 | $41.15 | 76.18% | $42.35 | 38 |
| 2027-01-15 | 64 天 | $40.50 | 74.84% | $42.53 | 42 |
| 2027-03-19 | 127 天 | $40.77 | 74.26% | $44.88 | 26 |
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
- 72.83%
- 60 天
- 74.96%
- 90 天
- 74.50%
- 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 334 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。