Is CALM options pricing rich or cheap right now?

As of Oct 13, 2026, Cal-Maine Foods, Inc. (CALM) ATM IV is 153.9% against 20-day realized volatility of 30.5%. IV rank is 48.9%. CALM options are pricing in more volatility than the stock has recently realized: a positive variance risk premium worth 123.4 vol points.

What is the CALM 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. CALM 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 CALM 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. CALM's current rank of 48.9% 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.

Cal-Maine Foods, Inc. (CALM) 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.

Cal-Maine Foods, Inc. (CALM) operates in the Consumer Defensive sector, specifically the Agricultural Farm Products industry, with a market capitalization near $2.94B, listed on NASDAQ, employing roughly 4,836 people, carrying a beta of 0.23 to the broader market. Cal-Maine Foods, Inc. Led by Sherman L. Miller, public since 1996-12-12.

Snapshot as of Oct 13, 2026.

Spot Price: $62.74
ATM IV: 153.9%
HV 20-Day: 30.5%
HV 60-Day: 34.3%
IV Rank: 48.9%
IV Percentile: 99.2%

As of Oct 13, 2026, Cal-Maine Foods, Inc. (CALM) ATM implied volatility is 153.9%. 20-day realized volatility is 30.5%, producing an IV-HV spread of +123.4 vol points. Options are pricing in more volatility than the stock has recently delivered, the volatility risk premium. IV rank is 48.9%.

How CALM iv/hv history Data Feeds Strategy Selection

Strategy selection on Cal-Maine Foods, 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 153.9% 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 CALM IV vs HV chart

The dual-line chart below 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 153.9%, 48.9% IV rank, against 30.5% realized over the trailing 20 trading days. Implied is pricing above realized by 123.4 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.

CALM IV/HV regimes and trade selection

CALM IV rank at 48.9% sits mid-range - no structural edge from rank alone. Strategy choice should follow event calendar and the dealer-positioning read.

Using CALM 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. Contango (positive slope 0.045) is the resting state - longer-dated IV trades above near-dated IV because long-dated cycles include uncertain macro states. Pair the rank read with the slope read with the event calendar to choose the right tenor for the structure.

CALM 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. CALM's 48.9% IV rank places the ticker in the mid-range of its 1-year window - no strong cycle-position signal. The ratio of HV-20 (30.5%) to HV-60 (34.3%) 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 below 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 CALM over the last ~30 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
Oct 13, 2026	153.9%	30.5%	34.3%	48.9%
Oct 12, 2026	160.5%	30.6%	35.0%	51.1%
Oct 9, 2026	17.4%	31.4%	35.4%	2.8%
Oct 8, 2026	31.1%	31.2%	35.4%	7.4%
Oct 7, 2026	9.7%	29.1%	35.9%	0.2%
Oct 6, 2026	31.4%	29.6%	36.9%	7.5%
Oct 5, 2026	31.0%	29.3%	36.7%	7.4%
Oct 2, 2026	29.9%	29.2%	36.4%	7.0%
Oct 1, 2026	29.4%	29.6%	36.3%	6.8%
Sep 30, 2026	32.3%	28.9%	35.9%	7.8%
Sep 29, 2026	45.5%	28.9%	36.6%	12.3%
Sep 28, 2026	47.3%	27.5%	36.5%	12.9%
Sep 25, 2026	43.6%	27.8%	36.5%	11.6%
Sep 24, 2026	44.4%	30.1%	37.2%	11.9%
Sep 23, 2026	44.2%	28.4%	37.1%	11.8%

CALM highest implied-volatility contracts

Type	Strike	Expiration	Volume	OI	IV	Bid	Ask
PUT	$70.00	Oct 16, 2026	0	290	955.5%	$6.30	$8.00
CALL	$65.00	Oct 16, 2026	11	326	782.7%	$0.15	$0.30
PUT	$65.00	Oct 16, 2026	11	403	782.7%	$1.55	$2.80

Top 3 contracts from the institutional-grade nightly options scan; ranked by iv within the broader S&P 500/400/600 + ETF universe.

Frequently asked CALM iv/hv history questions

Is CALM options pricing rich or cheap right now?: As of Oct 13, 2026, Cal-Maine Foods, Inc. (CALM) ATM IV is 153.9% against 20-day realized volatility of 30.5%. IV rank is 48.9%. CALM options are pricing in more volatility than the stock has recently realized: a positive variance risk premium worth 123.4 vol points.
What is the CALM 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. CALM 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 CALM 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. CALM's current rank of 48.9% 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.