Hawaiian Electric Industries, Inc. (HE) 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.
Hawaiian Electric Industries, Inc. (HE) operates in the Utilities sector, specifically the Diversified Utilities industry, with a market capitalization near $2.31B, listed on NYSE, employing roughly 2,587 people, carrying a beta of 0.56 to the broader market. Hawaiian Electric Industries, Inc. Led by Scott W. H. Seu, public since 1964-07-18.
Snapshot as of May 15, 2026.
- Spot Price
- $13.25
- ATM IV
- 37.9%
- IV Skew 25Δ
- -0.022
- IV Rank
- 5.9%
- IV Percentile
- 38.9%
- Term Structure Slope
- -0.020
As of May 15, 2026, Hawaiian Electric Industries, Inc. (HE) at-the-money implied volatility is 37.9%. IV rank is 5.9% (where 0% is the 52-week low and 100% is the 52-week high). IV percentile is 38.9%. The 25-delta skew is -0.022: 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.
HE Strategy Selection at Current Volatility Levels
For Hawaiian Electric Industries, Inc. options at 37.9% ATM IV, low IV rank (5.9%) favors premium-buying or long-vol structures: long calls or puts, debit spreads, calendar spreads, long straddles. The risk: low-rank regimes can persist for months while time decay eats premium-buyers alive. 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 →
HE highest implied-volatility contracts
| Type | Strike | Expiration | Volume | OI | IV | Bid | Ask |
|---|---|---|---|---|---|---|---|
| CALL | $15.00 | Jan 15, 2027 | 22 | 34.5K | 39.0% | $1.15 | $1.40 |
| CALL | $15.00 | Jan 15, 2027 | 22 | 34.5K | 39.0% | $1.15 | $1.40 |
| PUT | $10.00 | Jan 15, 2027 | 0 | 34.2K | 45.6% | $0.35 | $0.50 |
| CALL | $17.50 | Jan 15, 2027 | 0 | 18.9K | 38.1% | $0.55 | $0.75 |
| CALL | $22.50 | Jan 15, 2027 | 10 | 18.7K | 42.8% | $0.15 | $0.40 |
Top 5 contracts from the ORATS-sourced nightly scan; ranked by iv within the broader S&P 500/400/600 + ETF universe.
Frequently asked HE volatility skew questions
- What is the current HE ATM implied volatility?
- As of May 15, 2026, Hawaiian Electric Industries, Inc. (HE) at-the-money implied volatility is 37.9%. IV rank is 5.9% 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 HE IV high or low historically?
- IV is subdued relative to its 1-year history, conditions that typically favor premium-buying strategies (long calls, long puts, debit spreads, calendar spreads).
- What does HE volatility skew tell options traders?
- Volatility skew is the pattern by which IV varies across strikes for a given expiration. Hawaiian Electric Industries, 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.