Corgi ETF Trust I - Corgi High Voltage Grid Equipment ETF (JOUL) IV/HV History

Comparing implied volatility to historical (realized) volatility reveals whether options are priced rich or cheap relative to actual price movement. Persistent gaps can signal trading opportunities.

Corgi ETF Trust I - Corgi High Voltage Grid Equipment ETF (JOUL) operates in the Financial Services sector, specifically the Asset Management industry, with a market capitalization near $9.2M, listed on CBOE, carrying a beta of -2.00 to the broader market. The fund is an exchange-traded fund ("ETF") that seeks to meet its objective by having Corgi Strategies, LLC (the "adviser") actively manage the fund, and under ordinary market conditions, invest at least 80% of its net assets (plus any borrowings for investment purposes) in a portfolio of companies materially involved in the manufacturing, engineering, and servicing of equipment and technologies used to transmit and control electricity across high voltage networks and modernize power grids. public since 2026-05-06.

Snapshot as of Oct 14, 2026.

Spot Price

$21.67

ATM IV

45.2%

HV 20-Day

26.4%

HV 60-Day

33.8%

As of Oct 14, 2026, Corgi ETF Trust I - Corgi High Voltage Grid Equipment ETF (JOUL) ATM implied volatility is 45.2%. 20-day realized volatility is 26.4%, producing an IV-HV spread of +18.8 vol points. Options are pricing in more volatility than the stock has recently delivered, the volatility risk premium.

How JOUL iv/hv history Data Feeds Strategy Selection

Strategy selection on Corgi ETF Trust I - Corgi High Voltage Grid Equipment ETF options does not derive from any single metric in isolation. The iv/hv history view above sits inside a broader read: ATM IV currently sits at 45.2% and dealer gamma exposure is negative, so dealer hedging amplifies directional moves. Combine the iv/hv history data here with the volatility-skew surface, dealer-gamma exposure, max-pain level, and upcoming-events calendar to build a positioning thesis. Risk-defined structures (credit spreads, debit spreads, iron condors) are usually safer than naked positions while the regime is uncertain; the data on this page anchors the inputs but does not by itself constitute a trade thesis.

How to read the JOUL IV vs HV chart

The dual-line chart below tracks ATM implied volatility (forward-looking, what the chain is pricing) against 20-day realized historical volatility (backward-looking, what actually happened). ATM IV currently prints at 45.2%, against 26.4% realized over the trailing 20 trading days. Implied is pricing above realized by 18.8 vol points, the typical variance-risk-premium positive state in which premium sellers earn the gap. Persistent IV-above-HV is the variance-risk-premium-positive state typical of equity markets; persistent IV-below-HV is rare and usually marks underpriced vol that often expands.

JOUL IV/HV regimes and trade selection

Using JOUL vol history alongside the term structure

The IV/HV gap on this page captures the level of premium; the term-structure slope on the volatility page captures its shape across expirations. Term structure is roughly flat at -0.017, no strong near vs far premium being priced. Pair the rank read with the slope read with the event calendar to choose the right tenor for the structure.

JOUL IV/HV signal in volatility-cycle context

Equity-vol cycles tend to compress and expand on multi-month timeframes: a typical sequence runs low-IV-rank consolidation (months of flat tape, decaying premium) into a vol-expansion catalyst (earnings miss, macro shock, regime change) into elevated-IV-rank stress (premiums fat, dispersion high) back to mean-reverting compression. The ratio of HV-20 (26.4%) to HV-60 (33.8%) gives a second cycle indicator: when 20-day exceeds 60-day, recent realization is running hotter than the trailing-quarter average - typically a sign that recent days have already started expanding vol regardless of where IV rank prints. Use the time series below to spot inflection points: meaningful IV/HV gap closures and openings tend to precede regime shifts by a few sessions.

Learn how implied vs realized volatility is reported and how to read the data →

Daily ATM implied volatility and 20-day realized (historical) volatility for JOUL over the last ~31 trading days. The IV-HV gap measures the variance risk premium - when IV trades persistently above realized HV, premium-sellers earn the spread; when IV dips below HV, vol is structurally underpriced.

Most recent 15 trading days (descending). Older history appears in the chart above.

Frequently asked JOUL iv/hv history questions

Is JOUL options pricing rich or cheap right now?

As of Oct 14, 2026, Corgi ETF Trust I - Corgi High Voltage Grid Equipment ETF (JOUL) ATM IV is 45.2% against 20-day realized volatility of 26.4%. JOUL options are pricing in more volatility than the stock has recently realized: a positive variance risk premium worth 18.8 vol points.

What is the JOUL variance risk premium?

The variance risk premium is the persistent gap between implied and subsequently realized volatility. In equity markets it averages positive because option sellers demand compensation for bearing variance shocks. JOUL is currently priced consistently with this premium, which is one input to whether short-vol or long-vol structures carry their typical edge.

What does JOUL IV rank mean for strategy selection?

IV rank normalizes the current ATM IV to its 1-year range: 0% is the low, 100% is the high. JOUL's current rank signals where current pricing sits in its own 1-year history. High-rank regimes typically favor premium-selling structures (credit spreads, condors, covered calls); low-rank regimes typically favor premium-buying or long-volatility structures.