Fidelity MSCI Utilities Index ETF (FUTY) 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.
Fidelity MSCI Utilities Index ETF (FUTY) operates in the Financial Services sector, specifically the Asset Management industry, with a market capitalization near $2.43B, listed on AMEX, carrying a beta of 0.59 to the broader market. Tracks the performance of the MSCI USA IMI Utilities 25/50 Index. public since 2013-10-24.
Snapshot as of May 14, 2026.
- Spot Price
- $57.98
- ATM IV
- 23.7%
- IV Skew 25Δ
- 0.005
- IV Rank
- 32.9%
- IV Percentile
- 74.6%
- Term Structure Slope
- -0.028
As of May 14, 2026, Fidelity MSCI Utilities Index ETF (FUTY) at-the-money implied volatility is 23.7%. IV rank is 32.9% (where 0% is the 52-week low and 100% is the 52-week high). IV percentile is 74.6%. The 25-delta skew is +0.005: skew is roughly flat across the 25-delta wings. High IV rank typically favors premium-selling strategies; low IV rank favors premium-buying.
FUTY Strategy Selection at Current Volatility Levels
For Fidelity MSCI Utilities Index ETF options at 23.7% ATM IV, mid-range IV rank (32.9%) is the regime where directional conviction matters more than vol-regime positioning; strategy choice should follow the event calendar and the dealer-positioning view rather than IV rank alone. Pair the vol-rank read with the dealer-gamma view and the upcoming-events calendar to confirm the strategy fits both the structural regime and the path-dependent risk. The variance risk premium - the persistent gap between implied and subsequently realized vol - is positive in equity markets on average; high IV rank typically reflects a stretch where the premium is wider than usual.
Learn how volatility skew is reported and how to read the data →
Frequently asked FUTY volatility skew questions
- What is the current FUTY ATM implied volatility?
- As of May 14, 2026, Fidelity MSCI Utilities Index ETF (FUTY) at-the-money implied volatility is 23.7%. IV rank is 32.9% on a 0-100% scale anchored to the 1-year IV range. ATM IV is the volatility input that makes a Black-Scholes-equivalent model reproduce the listed at-the-money option prices.
- Is FUTY IV high or low historically?
- IV is near its 1-year median, a regime where strategy choice depends on directional conviction and event calendar rather than vol regime.
- What does FUTY volatility skew tell options traders?
- Volatility skew is the pattern by which IV varies across strikes for a given expiration. Fidelity MSCI Utilities Index ETF skew is roughly flat across the 25-delta wings. Skew matters for risk-defined strategy selection: when downside puts are rich, put-credit spreads capture more premium; when upside calls are rich, call-credit spreads or covered-call writes harvest more.