PL

$13.81NEUTRAL

spot: 2026/11/13 21:01:03 UTC

analytics: 2026/11/15 16:41:18 UTC

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Volatility Regime

Macro VCG—— · vcg = —

No dealer regime data yet.

VRP

+0.10

RICH

IV (ATM)

99.9%

RV

89.5%

IV Rank

52

1y rank 52

IV %ile 30d

63

Implied Move 30d

19.5%

IV 52w Low

61.7%

IV 52w High

140.6%

RV 52w Low

39.0%

RV 52w High

144.3%

Skew 25Δ

+9.6949

IV materially above RV — vol-selling structures favored.

Building 1-year history… (≤30s)

Analytical time series

IV / IV-of-IV

— IV (L)— IV-of-IV (R)

Analytical time series

RV / SPY-corr-1m

— RV (L)— SPY-corr-21 (R)

20 sessions

Regime Quadrant

GoldilocksFragile CalmStock PickerSystemic Panic

Systemic Panic: high vol, high corr — broad de-risking

20-session overlay

IV-z vs RV-z

+0.31σ

— IV-z— RV-z

Today's snapshot

IV by DTE

Term Structure

— ATM-2 ($13.00)— ATM-1 ($13.50)— ATM ($14.00)— ATM+1 ($14.50)

Today's IV by strike — one curve per expiration date

Smile

— 2026-11-13— 2026-11-20— 2026-11-27— 2026-12-04

IV (fwd ~30d) vs RV (trailing 21d) — lag is the VRP

HV / IV

— IV— RV

Last 1y

IV %ile Distribution

61th %ile

30-session bars + smoothed z-overlay

VRP Spread

+0.10 pts | compressing -0.05 pts