Canopy Growth Corporation (CGC) 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.
Canopy Growth Corporation (CGC) operates in the Healthcare sector, specifically the Drug Manufacturers - Specialty & Generic industry, with a market capitalization near $464.2M, listed on NASDAQ, employing roughly 1,029 people, carrying a beta of 2.39 to the broader market. Canopy Growth Corporation, together with its subsidiaries, engages in the production, distribution, and sale of cannabis and hemp-based products for recreational and medical purposes primarily in Canada, the United States, and Germany. Led by Luc Mongeau, public since 2014-04-07.
Snapshot as of May 15, 2026.
- Spot Price
- $1.02
- ATM IV
- 111.3%
- IV Skew 25Δ
- -0.298
- IV Rank
- 41.1%
- IV Percentile
- 29.8%
- Term Structure Slope
- 0.086
As of May 15, 2026, Canopy Growth Corporation (CGC) at-the-money implied volatility is 111.3%. IV rank is 41.1% (where 0% is the 52-week low and 100% is the 52-week high). IV percentile is 29.8%. The 25-delta skew is -0.298: 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.
CGC Strategy Selection at Current Volatility Levels
For Canopy Growth Corporation options at 111.3% ATM IV, mid-range IV rank (41.1%) is the regime where directional conviction matters more than vol-regime positioning; strategy choice should follow the event calendar and the dealer-positioning view rather than IV rank alone. 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.
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Frequently asked CGC volatility skew questions
- What is the current CGC ATM implied volatility?
- As of May 15, 2026, Canopy Growth Corporation (CGC) at-the-money implied volatility is 111.3%. IV rank is 41.1% 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 CGC IV high or low historically?
- IV is near its 1-year median, a regime where strategy choice depends on directional conviction and event calendar rather than vol regime.
- What does CGC volatility skew tell options traders?
- Volatility skew is the pattern by which IV varies across strikes for a given expiration. Canopy Growth Corporation 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.