Is FSV options pricing rich or cheap right now?

As of Jun 30, 2026, FirstService Corporation (FSV) ATM IV is 467.4% against 20-day realized volatility of 41.1%. IV rank is 98.5%. FSV options are pricing in more volatility than the stock has recently realized: a positive variance risk premium worth 426.3 vol points.

What is the FSV 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. FSV 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 FSV 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. FSV's current rank of 98.5% 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.

FirstService Corporation (FSV) 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.

FirstService Corporation (FSV) operates in the Real Estate sector, specifically the Real Estate - Services industry, with a market capitalization near $6.48B, listed on NASDAQ, employing roughly 30,000 people, carrying a beta of 0.92 to the broader market. FirstService Corporation (FSV) is a North American enterprise, operating across the United States and Canada, specializing in both residential property management and a comprehensive array of essential property services for both homes and businesses. Led by D. Scott Patterson, public since 2015-06-02.

Snapshot as of Jun 30, 2026.

Spot Price: $141.60
ATM IV: 467.4%
HV 20-Day: 41.1%
HV 60-Day: 35.9%
IV Rank: 98.5%
IV Percentile: 99.6%

As of Jun 30, 2026, FirstService Corporation (FSV) ATM implied volatility is 467.4%. 20-day realized volatility is 41.1%, producing an IV-HV spread of +426.3 vol points. Options are pricing in more volatility than the stock has recently delivered, the volatility risk premium. IV rank is 98.5%.

How FSV iv/hv history Data Feeds Strategy Selection

Strategy selection on FirstService Corporation 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 467.4% 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 FSV 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 467.4%, 98.5% IV rank, against 41.1% realized over the trailing 20 trading days. Implied is pricing above realized by 426.3 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.

FSV IV/HV regimes and trade selection

FSV 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 FSV 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 -4.412) 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.

FSV 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. FSV's current 98.5% 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 (41.1%) to HV-60 (35.9%) 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 FSV over the last ~32 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
Jun 30, 2026	467.4%	41.1%	35.9%	98.5%
Jun 29, 2026	474.2%	41.2%	35.9%	100.0%
Jun 26, 2026	21.9%	41.2%	36.4%	2.3%
Jun 25, 2026	23.0%	40.4%	36.3%	2.5%
Jun 24, 2026	25.8%	40.2%	36.2%	3.2%
Jun 22, 2026	26.0%	37.8%	35.2%	3.2%
Jun 18, 2026	25.1%	35.3%	33.4%	3.0%
Jun 17, 2026	24.6%	35.2%	33.5%	2.9%
Jun 16, 2026	23.7%	32.9%	33.0%	2.7%
Jun 15, 2026	25.7%	37.2%	33.1%	3.1%
Jun 11, 2026	26.6%	38.5%	33.0%	3.3%
Jun 10, 2026	23.6%	40.6%	32.9%	2.7%
Jun 9, 2026	360.3%	40.8%	33.2%	78.0%
Jun 3, 2026	416.1%	38.2%	31.9%	90.5%
Jun 2, 2026	385.4%	45.2%	32.2%	83.6%

Frequently asked FSV iv/hv history questions

Is FSV options pricing rich or cheap right now?: As of Jun 30, 2026, FirstService Corporation (FSV) ATM IV is 467.4% against 20-day realized volatility of 41.1%. IV rank is 98.5%. FSV options are pricing in more volatility than the stock has recently realized: a positive variance risk premium worth 426.3 vol points.
What is the FSV 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. FSV 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 FSV 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. FSV's current rank of 98.5% 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.