VanEck Oil Refiners ETF (CRAK) Volatility Skew

Implied volatility skew shows how IV varies across strike prices for a given expiration. Steeper skews indicate higher demand for downside protection relative to upside speculation.

Snapshot as of Apr 21, 2026.

Spot Price

$46.61

ATM IV

399.8%

IV Skew 25Δ

-0.20

As of Apr 21, 2026, VanEck Oil Refiners ETF (CRAK) at-the-money implied volatility is 399.8%. The 25-delta skew is -0.201 — puts carry meaningful premium over calls, a classic equity downside-protection skew. High IV rank typically favors premium-selling strategies; low IV rank favors premium-buying.