$74.59
+$10.38 (+16.17%)
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. PENG options expiring Oct 16 carry 98.5% IV at the money. That points to a typical daily move of about ±$4.63 (6.2%).
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.
Calls 16% above today's price carry 101% IV. At the money it is 99%, and puts 16% below carry 93%. Traders are paying extra for upside, which often happens around takeover rumours or a short squeeze.
Term structure is the at-the-money IV for each expiry date, from the nearest to the furthest. The circled point is the Oct 16 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 99% volatility. Over the last 20 trading days, the stock actually swung at a 90% yearly rate (96% over 60 days). Options are pricing about as much movement as the stock has actually had.
The curve is inverted. Near-dated options carry more volatility than longer ones: 99% for Oct 16 against 86% for Jan 19, 2029. This usually means the market expects news soon, such as earnings, or is under stress. There's a bump at Mar 19, 2027 (125%). Options that span a scheduled event, such as earnings, cost more.