Caesars Entertainment, Inc. (CZR) 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.
Caesars Entertainment, Inc. (CZR) operates in the Consumer Cyclical sector, specifically the Gambling, Resorts & Casinos industry, with a market capitalization near $5.46B, listed on NASDAQ, employing roughly 50,000 people, carrying a beta of 1.77 to the broader market. Caesars Entertainment, Inc. Led by Thomas Robert Reeg, public since 2014-09-22.
Snapshot as of May 15, 2026.
- Spot Price
- $27.79
- ATM IV
- 48.0%
- IV Skew 25Δ
- 0.049
- IV Rank
- 31.5%
- IV Percentile
- 36.1%
- Term Structure Slope
- -0.013
As of May 15, 2026, Caesars Entertainment, Inc. (CZR) at-the-money implied volatility is 48.0%. IV rank is 31.5% (where 0% is the 52-week low and 100% is the 52-week high). IV percentile is 36.1%. The 25-delta skew is +0.049: calls carry premium over puts, indicating upside speculation or squeeze risk. High IV rank typically favors premium-selling strategies; low IV rank favors premium-buying.
CZR Strategy Selection at Current Volatility Levels
For Caesars Entertainment, Inc. options at 48.0% ATM IV, mid-range IV rank (31.5%) 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 tilts to calls, so call-credit spreads or covered-call writes harvest more premium than put-credit spreads of the same width. 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 →
CZR highest implied-volatility contracts
| Type | Strike | Expiration | Volume | OI | IV | Bid | Ask |
|---|---|---|---|---|---|---|---|
| CALL | $30.00 | Jun 18, 2026 | 2.6K | 19.3K | 45.1% | $0.50 | $0.73 |
| CALL | $30.00 | Jun 18, 2026 | 2.6K | 19.3K | 45.1% | $0.50 | $0.73 |
| PUT | $25.00 | Jun 18, 2026 | 13 | 9.1K | 51.6% | $0.57 | $0.87 |
| CALL | $28.00 | May 22, 2026 | 194 | 104 | 46.7% | $0.57 | $0.62 |
| CALL | $30.00 | Jun 18, 2026 | 2.6K | 19.3K | 45.1% | $0.50 | $0.73 |
| CALL | $32.00 | Jun 18, 2026 | 35 | 7.7K | 36.6% | $0.11 | $0.25 |
Top 6 contracts from the ORATS-sourced nightly scan; ranked by iv within the broader S&P 500/400/600 + ETF universe.
Frequently asked CZR volatility skew questions
- What is the current CZR ATM implied volatility?
- As of May 15, 2026, Caesars Entertainment, Inc. (CZR) at-the-money implied volatility is 48.0%. IV rank is 31.5% 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 CZR 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 CZR volatility skew tell options traders?
- Volatility skew is the pattern by which IV varies across strikes for a given expiration. Caesars Entertainment, Inc. shows upside-skewed pricing: 25-delta calls trade richer than 25-delta puts, often reflecting upside speculation or squeeze risk. 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.