State Street SPDR S&P Bank ETF (KBE) 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.
State Street SPDR S&P Bank ETF (KBE) operates in the Financial Services sector, specifically the Asset Management industry, with a market capitalization near $1.29B, listed on AMEX, carrying a beta of 1.26 to the broader market. The State Street SPDR S&P Bank ETF seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of the S&P Banks Select Industry Index (the "Index")Seeks to provide exposure to the bank segment of the S&P TMI, which comprises the following sub-industries: Asset Management & Custody Banks, Diversified Banks, Regional Banks, Diversified Financial Services, and Commercial & Residential Mortgage Finance. public since 2005-11-15.
Snapshot as of May 14, 2026.
- Spot Price
- $62.41
- ATM IV
- 24.2%
- HV 20-Day
- 18.7%
- HV 60-Day
- 23.2%
- IV Rank
- 24.6%
- IV Percentile
- 44.4%
As of May 14, 2026, State Street SPDR S&P Bank ETF (KBE) ATM implied volatility is 24.2%. 20-day realized volatility is 18.7%, producing an IV-HV spread of +5.5 vol points. Options are pricing in more volatility than the stock has recently delivered, the volatility risk premium. IV rank is 24.6%.
How KBE iv/hv history Data Feeds Strategy Selection
Strategy selection on State Street SPDR S&P Bank 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 24.2% 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.
Learn how implied vs realized volatility is reported and how to read the data →
Frequently asked KBE iv/hv history questions
- Is KBE options pricing rich or cheap right now?
- As of May 14, 2026, State Street SPDR S&P Bank ETF (KBE) ATM IV is 24.2% against 20-day realized volatility of 18.7%. IV rank is 24.6%. KBE options are pricing in more volatility than the stock has recently realized: a positive variance risk premium worth 5.5 vol points.
- What is the KBE 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. KBE 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 KBE 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. KBE's current rank of 24.6% 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.