IV Rank
Where today's constant-maturity ATM IV sits between the lookback window's high and low: (IV − IV_low) / (IV_high − IV_low) × 100. Distinct from IV Percentile.
IV Rank
Definition
Where today's constant-maturity ATM IV sits between the lookback window's high and low: (IV − IV_low) / (IV_high − IV_low) × 100. Distinct from IV Percentile.
Parameters
Asset, Lookback period (default 252 days)
Output range: 0–100
Example
`IVRank(SPY, 252) > 50` (IV in the upper half of its 1-year range)
Usage notes
High IV Rank favors premium-selling structures; low IV Rank favors long volatility. Do not confuse with IV Percentile.
Full indicator reference