Direxion Daily Semiconductor Bull 3X ETF (SOXL) 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.
Direxion Daily Semiconductor Bull 3X ETF (SOXL) operates in the Financial Services sector, specifically the Asset Management - Leveraged industry, with a market capitalization near $63.43B, listed on AMEX, carrying a beta of 7.50 to the broader market. The Direxion Daily Semiconductor Bull and Bear 3X Exchange-Traded Funds (ETFs) are engineered to deliver daily investment outcomes that are triple (300%) the movement of the NYSE Semiconductor Index, or triple the inverse (opposite) of its performance, prior to the deduction of fees and expenses. public since 2010-03-11.
Snapshot as of Jun 30, 2026.
- Spot Price
- $270.13
- ATM IV
- 172.0%
- HV 20-Day
- 229.4%
- HV 60-Day
- 164.4%
- IV Rank
- 83.6%
- IV Percentile
- 94.8%
As of Jun 30, 2026, Direxion Daily Semiconductor Bull 3X ETF (SOXL) ATM implied volatility is 172.0%. 20-day realized volatility is 229.4%, producing an IV-HV spread of -57.5 vol points. Realized volatility currently exceeds implied, an inversion that can signal a pending IV expansion. IV rank is 83.6%.
How SOXL iv/hv history Data Feeds Strategy Selection
Strategy selection on Direxion Daily Semiconductor Bull 3X 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 172.0% and dealer gamma exposure is positive, so dealer hedging is mechanically mean-reverting. 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 SOXL IV vs HV chart
The dual-line chart above 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 172.0%, 83.6% IV rank, against 229.4% realized over the trailing 20 trading days. Implied is currently below realized by 57.5 vol points, an inverted regime where premium buyers are underpaying for the move - rare and often a setup for IV expansion. 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.
SOXL IV/HV regimes and trade selection
SOXL 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 SOXL 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 -0.007, 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.
SOXL 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. SOXL's current 83.6% 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 (229.4%) to HV-60 (164.4%) 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 above 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 SOXL over the last ~41 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.
| Date | ATM IV | HV 20d | HV 60d | IV Rank |
|---|---|---|---|---|
| Jun 30, 2026 | 172.0% | 229.4% | 164.4% | 83.6% |
| Jun 29, 2026 | 178.3% | 224.2% | 163.3% | 88.9% |
| Jun 26, 2026 | 188.5% | 223.2% | 166.4% | 97.5% |
| Jun 25, 2026 | 184.5% | 219.0% | 167.4% | 94.2% |
| Jun 24, 2026 | 189.9% | 215.0% | 167.3% | 98.7% |
| Jun 23, 2026 | 191.4% | 223.6% | 170.3% | 100.0% |
| Jun 22, 2026 | 179.6% | 202.2% | 160.4% | 96.2% |
| Jun 18, 2026 | 180.1% | 202.2% | 160.4% | 96.6% |
| Jun 17, 2026 | 176.8% | 196.4% | 157.3% | 93.7% |
| Jun 16, 2026 | 171.4% | 196.4% | 159.4% | 88.8% |
| Jun 15, 2026 | 168.7% | 191.9% | 155.2% | 86.4% |
| Jun 12, 2026 | 177.7% | 192.3% | 153.2% | 94.5% |
| Jun 11, 2026 | 183.8% | 191.8% | 153.2% | 100.0% |
| Jun 10, 2026 | 183.2% | 179.6% | 148.4% | 100.0% |
| Jun 9, 2026 | 175.2% | 182.4% | 147.6% | 100.0% |
SOXL highest implied-volatility contracts
| Type | Strike | Expiration | Volume | OI | IV | Bid | Ask |
|---|---|---|---|---|---|---|---|
| PUT | $85.00 | Jul 2, 2026 | 3.0K | 8.3K | 275.5% | $0.03 | $0.05 |
| PUT | $90.00 | Jul 2, 2026 | 198 | 1.6K | 275.5% | $0.04 | $0.06 |
| PUT | $95.00 | Jul 2, 2026 | 98 | 2.4K | 275.5% | $0.04 | $0.07 |
| CALL | $100.00 | Jul 2, 2026 | 168 | 289 | 275.5% | $168.30 | $171.75 |
| PUT | $100.00 | Jul 2, 2026 | 1.5K | 10.5K | 275.5% | $0.08 | $0.09 |
| PUT | $105.00 | Jul 2, 2026 | 345 | 3.8K | 275.5% | $0.09 | $0.10 |
| PUT | $110.00 | Jul 2, 2026 | 1.5K | 4.3K | 275.5% | $0.11 | $0.13 |
| PUT | $115.00 | Jul 2, 2026 | 353 | 1.7K | 275.5% | $0.14 | $0.19 |
| CALL | $120.00 | Jul 2, 2026 | 3 | 239 | 275.5% | $148.50 | $151.30 |
| PUT | $120.00 | Jul 2, 2026 | 2.7K | 7.3K | 275.5% | $0.15 | $0.19 |
Top 10 contracts from the institutional-grade nightly options scan; ranked by iv within the broader S&P 500/400/600 + ETF universe.
Frequently asked SOXL iv/hv history questions
- Is SOXL options pricing rich or cheap right now?
- As of Jun 30, 2026, Direxion Daily Semiconductor Bull 3X ETF (SOXL) ATM IV is 172.0% against 20-day realized volatility of 229.4%. IV rank is 83.6%. Realized volatility currently exceeds implied: an inversion of the typical equity volatility risk premium that often precedes IV expansion.
- What is the SOXL 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. SOXL is currently pricing inverted to the historical pattern, which is one input to whether short-vol or long-vol structures carry their typical edge.
- What does SOXL 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. SOXL's current rank of 83.6% 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.