Is TSLW options pricing rich or cheap right now?

As of Aug 28, 2026, Roundhill Investments - TSLA WeeklyPay ETF (TSLW) ATM IV is 476.2% against 20-day realized volatility of 49.4%. IV rank is 96.6%. TSLW options are pricing in more volatility than the stock has recently realized: a positive variance risk premium worth 426.8 vol points.

What is the TSLW 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. TSLW 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 TSLW 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. TSLW's current rank of 96.6% 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.

Roundhill Investments - TSLA WeeklyPay ETF (TSLW) 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.

Roundhill Investments - TSLA WeeklyPay ETF (TSLW) operates in the Financial Services sector, specifically the Asset Management - Income industry, with a market capitalization near $72.9M, listed on CBOE, carrying a beta of 1.59 to the broader market. The Roundhill TSLA WeeklyPay ETF, identified by the ticker TSLW, is designed for investors aiming to achieve both regular income payouts and potential for capital growth. public since 2025-02-19.

Snapshot as of Aug 28, 2026.

Spot Price: $17.47
ATM IV: 476.2%
HV 20-Day: 49.4%
HV 60-Day: 72.2%
IV Rank: 96.6%
IV Percentile: 98.4%

As of Aug 28, 2026, Roundhill Investments - TSLA WeeklyPay ETF (TSLW) ATM implied volatility is 476.2%. 20-day realized volatility is 49.4%, producing an IV-HV spread of +426.8 vol points. Options are pricing in more volatility than the stock has recently delivered, the volatility risk premium. IV rank is 96.6%.

How TSLW iv/hv history Data Feeds Strategy Selection

Strategy selection on Roundhill Investments - TSLA WeeklyPay 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 476.2% 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 TSLW 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 476.2%, 96.6% IV rank, against 49.4% realized over the trailing 20 trading days. Implied is pricing above realized by 426.8 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.

TSLW IV/HV regimes and trade selection

TSLW 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 TSLW 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 -4.284) 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.

TSLW 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. TSLW's current 96.6% 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 (49.4%) to HV-60 (72.2%) 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 TSLW over the last ~42 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
Aug 28, 2026	476.2%	49.4%	72.2%	96.6%
Aug 27, 2026	44.1%	48.1%	72.1%	7.5%
Aug 26, 2026	476.8%	49.6%	71.9%	96.7%
Aug 25, 2026	39.5%	50.8%	72.9%	6.5%
Aug 24, 2026	40.3%	51.2%	72.8%	6.7%
Aug 21, 2026	35.8%	44.7%	71.9%	5.8%
Aug 20, 2026	41.9%	39.2%	70.3%	7.0%
Aug 19, 2026	42.0%	85.0%	70.3%	7.0%
Aug 18, 2026	344.7%	83.3%	69.9%	69.5%
Aug 17, 2026	48.1%	83.9%	70.7%	8.3%
Aug 14, 2026	39.7%	84.9%	70.7%	6.6%
Aug 13, 2026	40.5%	84.8%	71.3%	6.7%
Aug 12, 2026	444.5%	82.5%	71.2%	90.1%
Aug 11, 2026	315.7%	82.5%	71.2%	63.5%
Aug 10, 2026	327.8%	82.6%	71.5%	66.0%

Frequently asked TSLW iv/hv history questions

Is TSLW options pricing rich or cheap right now?: As of Aug 28, 2026, Roundhill Investments - TSLA WeeklyPay ETF (TSLW) ATM IV is 476.2% against 20-day realized volatility of 49.4%. IV rank is 96.6%. TSLW options are pricing in more volatility than the stock has recently realized: a positive variance risk premium worth 426.8 vol points.
What is the TSLW 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. TSLW 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 TSLW 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. TSLW's current rank of 96.6% 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.