Hecla Mining Company (HL) 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.

Hecla Mining Company (HL) operates in the Basic Materials sector, specifically the Silver industry, with a market capitalization near $10.42B, listed on NYSE, employing roughly 1,830 people, carrying a beta of 1.27 to the broader market. Hecla Mining Company, along with its subsidiaries, engages in the exploration, acquisition, development, and extraction of both precious and base metal resources across the United States and internationally. Led by Robert L. Krcmarov, public since 1980-03-17.

Snapshot as of Jun 30, 2026.

Spot Price

$15.46

ATM IV

64.8%

HV 20-Day

72.5%

HV 60-Day

63.2%

IV Rank

37.2%

IV Percentile

28.6%

As of Jun 30, 2026, Hecla Mining Company (HL) ATM implied volatility is 64.8%. 20-day realized volatility is 72.5%, producing an IV-HV spread of -7.6 vol points. Realized volatility currently exceeds implied, an inversion that can signal a pending IV expansion. IV rank is 37.2%.

How HL iv/hv history Data Feeds Strategy Selection

Strategy selection on Hecla Mining Company 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 64.8% and dealer gamma exposure is positive, so dealer hedging is mechanically mean-reverting. 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 HL 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 64.8%, 37.2% IV rank, against 72.5% realized over the trailing 20 trading days. Implied is currently below realized by 7.6 vol points, an inverted regime where premium buyers are underpaying for the move - rare and often a setup for IV expansion. 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.

HL IV/HV regimes and trade selection

HL IV rank at 37.2% sits mid-range - no structural edge from rank alone. Strategy choice should follow event calendar and the dealer-positioning read.

Using HL 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. Contango (positive slope 0.053) is the resting state - longer-dated IV trades above near-dated IV because long-dated cycles include uncertain macro states. Pair the rank read with the slope read with the event calendar to choose the right tenor for the structure.

HL 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. HL's 37.2% IV rank places the ticker in the mid-range of its 1-year window - no strong cycle-position signal. The ratio of HV-20 (72.5%) to HV-60 (63.2%) 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 HL over the last ~41 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.

Most recent 15 trading days (descending). Older history appears in the chart above.

HL highest implied-volatility contracts

Top 7 contracts from the institutional-grade nightly options scan; ranked by iv within the broader S&P 500/400/600 + ETF universe.

Frequently asked HL iv/hv history questions

Is HL options pricing rich or cheap right now?

As of Jun 30, 2026, Hecla Mining Company (HL) ATM IV is 64.8% against 20-day realized volatility of 72.5%. IV rank is 37.2%. Realized volatility currently exceeds implied: an inversion of the typical equity volatility risk premium that often precedes IV expansion.

What is the HL 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. HL is currently pricing inverted to the historical pattern, which is one input to whether short-vol or long-vol structures carry their typical edge.

What does HL 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. HL's current rank of 37.2% 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.