Bitcoin Depot Inc. (BTM) 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.

Bitcoin Depot Inc. (BTM) operates in the Financial Services sector, specifically the Financial - Credit Services industry, with a market capitalization near $1.9M, listed on NASDAQ, employing roughly 126 people, carrying a beta of 3.13 to the broader market. Bitcoin Depot Inc. Led by W. Alexander Holmes, public since 2022-04-19.

Snapshot as of May 29, 2026.

Spot Price

$0.51

ATM IV

498.0%

HV 20-Day

499.8%

HV 60-Day

340.4%

IV Rank

100.0%

IV Percentile

100.0%

As of May 29, 2026, Bitcoin Depot Inc. (BTM) ATM implied volatility is 498.0%. 20-day realized volatility is 499.8%, producing an IV-HV spread of -1.8 vol points. Realized volatility currently exceeds implied, an inversion that can signal a pending IV expansion. IV rank is 100.0%.

How BTM iv/hv history Data Feeds Strategy Selection

Strategy selection on Bitcoin Depot Inc. 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 498.0% 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 BTM 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 498.0%, 100.0% IV rank, against 499.8% realized over the trailing 20 trading days. Implied is currently below realized by 1.8 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.

BTM IV/HV regimes and trade selection

BTM 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 BTM 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 -2.738) 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.

BTM 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. BTM's current 100.0% 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 (499.8%) to HV-60 (340.4%) 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 BTM 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.