Enphase Energy, Inc. (ENPH) 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.
Enphase Energy, Inc. (ENPH) operates in the Energy sector, specifically the Solar industry, with a market capitalization near $5.54B, listed on NASDAQ, employing roughly 2,781 people, carrying a beta of 1.25 to the broader market. Enphase Energy, Inc. Led by Badrinarayanan Kothandaraman, public since 2012-03-30.
Snapshot as of May 15, 2026.
- Spot Price
- $53.34
- ATM IV
- 96.2%
- IV Skew 25Δ
- -0.092
- IV Rank
- 89.0%
- IV Percentile
- 98.4%
- Term Structure Slope
- -0.026
As of May 15, 2026, Enphase Energy, Inc. (ENPH) at-the-money implied volatility is 96.2%. IV rank is 89.0% (where 0% is the 52-week low and 100% is the 52-week high). IV percentile is 98.4%. The 25-delta skew is -0.092: 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.
ENPH Strategy Selection at Current Volatility Levels
For Enphase Energy, Inc. options at 96.2% ATM IV, high IV rank (89.0%) 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 →
ENPH highest implied-volatility contracts
| Type | Strike | Expiration | Volume | OI | IV | Bid | Ask |
|---|---|---|---|---|---|---|---|
| CALL | $50.00 | Jun 18, 2026 | 6.5K | 26.3K | 92.6% | $7.65 | $7.80 |
| PUT | $45.00 | Jul 17, 2026 | 2.0K | 194 | 87.2% | $3.45 | $3.55 |
| CALL | $55.00 | May 22, 2026 | 4.5K | 436 | 111.5% | $2.42 | $2.80 |
| CALL | $50.00 | Jun 18, 2026 | 6.5K | 26.3K | 92.6% | $7.65 | $7.80 |
| CALL | $55.00 | Jun 18, 2026 | 5.2K | 7.3K | 94.6% | $5.45 | $5.65 |
| CALL | $60.00 | Jun 18, 2026 | 5.1K | 7.6K | 97.2% | $3.85 | $4.10 |
| CALL | $55.00 | Jul 17, 2026 | 1.7K | 214 | 90.4% | $7.30 | $7.60 |
| CALL | $55.00 | May 22, 2026 | 4.5K | 436 | 111.5% | $2.42 | $2.80 |
| CALL | $65.00 | Sep 18, 2026 | 3.2K | 489 | 91.0% | $7.60 | $7.90 |
| CALL | $65.00 | Sep 18, 2026 | 3.2K | 489 | 91.0% | $7.60 | $7.90 |
Top 10 contracts from the ORATS-sourced nightly scan; ranked by iv within the broader S&P 500/400/600 + ETF universe.
Frequently asked ENPH volatility skew questions
- What is the current ENPH ATM implied volatility?
- As of May 15, 2026, Enphase Energy, Inc. (ENPH) at-the-money implied volatility is 96.2%. IV rank is 89.0% 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 ENPH 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 ENPH volatility skew tell options traders?
- Volatility skew is the pattern by which IV varies across strikes for a given expiration. Enphase Energy, Inc. 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.