$723.89
−$14.99 (−2.03%)
52-week range
Implied volatility (IV) is the size of the moves that option prices assume, stated as a yearly percentage. Think of it as the weather forecast built into the option price. META options expiring Oct 14 carry 32.6% IV at the money. That points to a typical daily move of about ±$14.86 (2.1%).
Each strike has its own IV. Plotted together they make a curve called the smile. When one side sits higher than the other, that tilt is called skew.
Puts 5% below today's price carry 35% IV. At the money it is 33%, and calls 5% above carry 33%. Traders are paying extra for protection against a fall.
Term structure is the at-the-money IV for each expiry date, from the nearest to the furthest. The circled point is the Oct 14 expiry you picked.
Realised volatility is the weather that actually happened: how much the stock really moved, on the same yearly scale. Comparing it with IV shows whether options look expensive or cheap.
Options price in 33% volatility. Over the last 20 trading days, the stock actually swung at a 52% yearly rate (46% over 60 days). Options are pricing less movement than the stock has actually had. Either traders expect things to calm down, or options are cheap next to recent swings.
The curve slopes upward, from 33% for Oct 14 to 43% for Jan 19, 2029. This is the calm, normal shape. More time leaves more room for surprises, so longer-dated options carry more volatility. There's a bump at Oct 30 (45%), the first expiry after earnings on Oct 28. Options that span a scheduled event, such as earnings, cost more.