Is NFLP options pricing rich or cheap right now?

As of Oct 13, 2026, Kurv Yield Premium Strategy Netflix (NFLX) ETF (NFLP) ATM IV is 356.4% against 20-day realized volatility of 34.4%. IV rank is 72.6%. NFLP options are pricing in more volatility than the stock has recently realized: a positive variance risk premium worth 322.0 vol points.

What is the NFLP 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. NFLP 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 NFLP 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. NFLP's current rank of 72.6% 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.

Kurv Yield Premium Strategy Netflix (NFLX) ETF (NFLP) 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.

Kurv Yield Premium Strategy Netflix (NFLX) ETF (NFLP) operates in the Financial Services sector, specifically the Asset Management - Income industry, with a market capitalization near $4.5M, listed on CBOE, carrying a beta of 0.55 to the broader market. The Kurv Yield Premium Strategy Netflix (NFLX) ETF primarily endeavors to deliver consistent income. public since 2023-10-27.

Snapshot as of Oct 13, 2026.

Spot Price: $16.38
ATM IV: 356.4%
HV 20-Day: 34.4%
HV 60-Day: 38.6%
IV Rank: 72.6%
IV Percentile: 95.2%

As of Oct 13, 2026, Kurv Yield Premium Strategy Netflix (NFLX) ETF (NFLP) ATM implied volatility is 356.4%. 20-day realized volatility is 34.4%, producing an IV-HV spread of +322.0 vol points. Options are pricing in more volatility than the stock has recently delivered, the volatility risk premium. IV rank is 72.6%.

How NFLP iv/hv history Data Feeds Strategy Selection

Strategy selection on Kurv Yield Premium Strategy Netflix (NFLX) 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 356.4% 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 NFLP 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 356.4%, 72.6% IV rank, against 34.4% realized over the trailing 20 trading days. Implied is pricing above realized by 322.0 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.

NFLP IV/HV regimes and trade selection

NFLP sits in the top quartile of its 1-year IV range. High-IV-rank regimes statistically favor premium-selling - the elevated implied is more likely to mean-revert than to expand further. Iron condors, covered calls, and cash-secured puts collect more premium per unit of notional risk; size wings to the implied move and exit on first sign of HV catching up.

Using NFLP 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. Backwardation (negative slope -0.066) indicates acute near-term event risk - near-dated tenors price disproportionate vol. Pair the rank read with the slope read with the event calendar to choose the right tenor for the structure.

NFLP 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. NFLP's current 72.6% IV rank places the ticker in the expansion or stress phase of that cycle. Premium-selling carries the typical structural tailwind here, but the mean-reverting compression that completes the cycle has historically arrived sharply rather than gradually. The ratio of HV-20 (34.4%) to HV-60 (38.6%) 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 NFLP over the last ~30 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.

Daily values from end-of-day option_ticker_snapshots. Series sparse on illiquid tickers reflects gaps in the upstream end-of-day options data feed.

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

Date	ATM IV	HV 20d	HV 60d	IV Rank
Oct 13, 2026	356.4%	34.4%	38.6%	72.6%
Oct 12, 2026	1.0%	35.9%	38.9%	0.0%
Oct 9, 2026	47.0%	40.3%	41.8%	9.4%
Oct 8, 2026	1.0%	41.2%	41.7%	0.0%
Oct 7, 2026	485.5%	39.3%	41.3%	99.0%
Oct 6, 2026	312.5%	38.6%	41.1%	63.6%
Oct 5, 2026	385.1%	37.8%	40.9%	78.4%
Oct 2, 2026	414.1%	42.4%	41.2%	84.4%
Oct 1, 2026	325.1%	42.6%	41.2%	66.2%
Sep 30, 2026	458.4%	44.8%	40.9%	93.4%
Sep 29, 2026	420.3%	44.7%	40.9%	85.6%
Sep 28, 2026	490.4%	43.3%	40.8%	100.0%
Sep 25, 2026	19.0%	44.3%	42.0%	3.6%
Sep 24, 2026	19.6%	44.8%	42.7%	3.8%
Sep 23, 2026	19.3%	44.9%	43.1%	3.7%

Frequently asked NFLP iv/hv history questions

Is NFLP options pricing rich or cheap right now?: As of Oct 13, 2026, Kurv Yield Premium Strategy Netflix (NFLX) ETF (NFLP) ATM IV is 356.4% against 20-day realized volatility of 34.4%. IV rank is 72.6%. NFLP options are pricing in more volatility than the stock has recently realized: a positive variance risk premium worth 322.0 vol points.
What is the NFLP 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. NFLP 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 NFLP 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. NFLP's current rank of 72.6% 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.