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IV Rank

IVR places today's implied volatility inside that symbol's own 52-week range. 0 is the low of the window. 100 is the high. The formula is the TastyTrade one: current IV minus the 52-week low, divided by the high minus the low, times 100.

IV Rank (IVR) across a 52-week implied volatility history Conceptual chart of one year of implied volatility showing the 52-week low at 20% (IVR 0), the 52-week high at 60% (IVR 100), and today's reading at 40% sitting halfway between them (IVR 50). IV Rank (IVR) — today’s IV relative to the past 52 weeks 60% 40% 20% 52W Low (20%) 52W High (60%) Today (40%) 52 weeks ago Today IVR = 100 IVR = 50 IVR = 0 IVR = (Current − 52W Low) / (52W High − 52W Low) × 100 → (40 − 20) / (60 − 20) × 100 = 50
IV Rank places current IV between the symbol’s 52-week low (0) and 52-week high (100). With a low of 20% and a high of 60%, a current reading of 40% sits at the midpoint: IVR 50.

Raw IV can be compared as a magnitude, but its historical context differs across names. 40% can be quiet for one symbol and extreme for another. IVR is how the screener compares them. A high rank means IV is high for that name. It does not mean a move is due, and it does not mean premium selling is the right structure. IV percentile, the percent of days in the year with lower IV, is a different statistic. TanukiTrade shows rank.

IVR is a continuous relative measure. Color bands make the display easier to scan, but they are not universal thresholds for buying or selling options.

A high rank is not a valuation verdict

If the 52-week IV low is 20, the high is 60, and the current value is 40, IVR is 50. It is halfway through the observed range; it does not say that 50% of past days had lower IV. That latter question belongs to IV percentile.

An extreme observation can stretch the range and leave IVR low for months. Compare IVR with IVx, the five-day change, and upcoming events. High relative IV can reflect substantial risk; it does not establish that options are overpriced or that selling premium has positive expectancy.

Where you see it

TanukiTrade documentation. Levels are context, not a recommendation. tanukitrade.com