Roundhill Investments - Ether Covered Call Strategy ETF (YETH) Volatility Skew
Implied volatility skew shows how IV varies across strike prices for a given expiration. Steeper skews indicate higher demand for downside protection relative to upside speculation.
Roundhill Investments - Ether Covered Call Strategy ETF (YETH) operates in the Financial Services sector, specifically the Asset Management industry, with a market capitalization near $98.0M, listed on CBOE, carrying a beta of 1.40 to the broader market. The Roundhill Ether Covered Call Strategy ETF (“YETH”) seeks to offer exposure to ether*, subject to a cap, while providing the potential for current income. public since 2024-09-09.
Snapshot as of May 15, 2026.
- Spot Price
- $11.45
- ATM IV
- 386.3%
- IV Skew 25Δ
- -0.089
- IV Rank
- 83.7%
- IV Percentile
- 99.6%
- Term Structure Slope
- -3.032
As of May 15, 2026, Roundhill Investments - Ether Covered Call Strategy ETF (YETH) at-the-money implied volatility is 386.3%. IV rank is 83.7% (where 0% is the 52-week low and 100% is the 52-week high). IV percentile is 99.6%. The 25-delta skew is -0.089: puts carry meaningful premium over calls, a classic equity downside-protection skew. High IV rank typically favors premium-selling strategies; low IV rank favors premium-buying.
YETH Strategy Selection at Current Volatility Levels
For Roundhill Investments - Ether Covered Call Strategy ETF options at 386.3% ATM IV, high IV rank (83.7%) favors premium-selling structures: credit spreads, iron condors, covered calls, cash-secured puts. The risk: a continued vol expansion through high-rank levels is rare but expensive when it happens. The 25-delta skew is meaningfully put-skewed, so put-credit spreads capture more premium for the same width than call-credit spreads. Pair the vol-rank read with the dealer-gamma view and the upcoming-events calendar to confirm the strategy fits both the structural regime and the path-dependent risk. The variance risk premium - the persistent gap between implied and subsequently realized vol - is positive in equity markets on average; high IV rank typically reflects a stretch where the premium is wider than usual.
Learn how volatility skew is reported and how to read the data →
Frequently asked YETH volatility skew questions
- What is the current YETH ATM implied volatility?
- As of May 15, 2026, Roundhill Investments - Ether Covered Call Strategy ETF (YETH) at-the-money implied volatility is 386.3%. IV rank is 83.7% on a 0-100% scale anchored to the 1-year IV range. ATM IV is the volatility input that makes a Black-Scholes-equivalent model reproduce the listed at-the-money option prices.
- Is YETH IV high or low historically?
- IV is elevated relative to its 1-year history, conditions that typically favor premium-selling strategies (credit spreads, iron condors, covered calls).
- What does YETH volatility skew tell options traders?
- Volatility skew is the pattern by which IV varies across strikes for a given expiration. Roundhill Investments - Ether Covered Call Strategy ETF carries the typical equity downside-protection skew: 25-delta puts price meaningfully richer than 25-delta calls. Skew matters for risk-defined strategy selection: when downside puts are rich, put-credit spreads capture more premium; when upside calls are rich, call-credit spreads or covered-call writes harvest more.