State Street SPDR Portfolio S&P 400 Mid Cap ETF (SPMD) 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 Portfolio S&P 400 Mid Cap ETF (SPMD) operates in the Financial Services sector, specifically the Asset Management industry, with a market capitalization near $16.82B, listed on AMEX, carrying a beta of 1.08 to the broader market. The State Street SPDR Portfolio S&P 400 Mid Cap ETF seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of the S&P MidCap 400 Index (the "Index")A low-cost ETF that seeks to offer precise, comprehensive exposure to mid cap US equitiesThe Index is float-adjusted and market capitalization weightedOne of the low-cost core State Street SPDR Portfolio ETFs, a suite of portfolio building blocks designed to provide broad, diversified exposure to core asset classes public since 2013-07-09.
Snapshot as of May 15, 2026.
- Spot Price
- $63.39
- ATM IV
- 24.6%
- HV 20-Day
- 14.8%
- HV 60-Day
- 19.3%
- IV Rank
- 24.5%
- IV Percentile
- 35.7%
As of May 15, 2026, State Street SPDR Portfolio S&P 400 Mid Cap ETF (SPMD) ATM implied volatility is 24.6%. 20-day realized volatility is 14.8%, producing an IV-HV spread of +9.8 vol points. Options are pricing in more volatility than the stock has recently delivered, the volatility risk premium. IV rank is 24.5%.
How SPMD iv/hv history Data Feeds Strategy Selection
Strategy selection on State Street SPDR Portfolio S&P 400 Mid Cap 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 24.6% 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.
Learn how implied vs realized volatility is reported and how to read the data →
Frequently asked SPMD iv/hv history questions
- Is SPMD options pricing rich or cheap right now?
- As of May 15, 2026, State Street SPDR Portfolio S&P 400 Mid Cap ETF (SPMD) ATM IV is 24.6% against 20-day realized volatility of 14.8%. IV rank is 24.5%. SPMD options are pricing in more volatility than the stock has recently realized: a positive variance risk premium worth 9.8 vol points.
- What is the SPMD 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. SPMD 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 SPMD 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. SPMD's current rank of 24.5% 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.