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 Gold industry, with a market capitalization near $14.12B, listed on NYSE, employing roughly 1,830 people, carrying a beta of 1.26 to the broader market. Hecla Mining Company, together with its subsidiaries, discovers, acquires, develops, and produces precious and base metal properties in the United States and internationally. Led by Robert L. Krcmarov, public since 1980-03-17.
Snapshot as of May 15, 2026.
- Spot Price
- $17.68
- ATM IV
- 69.8%
- HV 20-Day
- 75.7%
- HV 60-Day
- 67.3%
- IV Rank
- 42.8%
- IV Percentile
- 44.4%
As of May 15, 2026, Hecla Mining Company (HL) ATM implied volatility is 69.8%. 20-day realized volatility is 75.7%, producing an IV-HV spread of -5.9 vol points. Realized volatility currently exceeds implied, an inversion that can signal a pending IV expansion. IV rank is 42.8%.
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 69.8% 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.
Learn how implied vs realized volatility is reported and how to read the data →
HL highest implied-volatility contracts
| Type | Strike | Expiration | Volume | OI | IV | Bid | Ask |
|---|---|---|---|---|---|---|---|
| PUT | $10.00 | Jan 15, 2027 | 96 | 135.0K | 68.3% | $0.48 | $0.57 |
| PUT | $17.50 | May 22, 2026 | 2.6K | 204 | 70.3% | $0.52 | $0.60 |
| PUT | $17.00 | Jun 26, 2026 | 3.2K | 427 | 69.0% | $0.94 | $1.43 |
| PUT | $16.00 | Jan 15, 2027 | 729 | 144 | 71.0% | $2.80 | $2.97 |
| CALL | $25.00 | Jun 18, 2026 | 884 | 40.1K | 78.5% | $0.17 | $0.18 |
| CALL | $19.00 | Jun 18, 2026 | 3.3K | 2.5K | 70.0% | $0.99 | $1.12 |
| PUT | $17.00 | Jun 26, 2026 | 3.2K | 427 | 69.0% | $0.94 | $1.43 |
| CALL | $20.00 | Jun 18, 2026 | 2.9K | 11.2K | 70.9% | $0.71 | $0.77 |
| PUT | $17.50 | May 22, 2026 | 2.6K | 204 | 70.3% | $0.52 | $0.60 |
| PUT | $12.00 | Jan 15, 2027 | 104 | 24.8K | 68.3% | $0.75 | $1.28 |
Top 10 contracts from the ORATS-sourced nightly 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 May 15, 2026, Hecla Mining Company (HL) ATM IV is 69.8% against 20-day realized volatility of 75.7%. IV rank is 42.8%. 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 42.8% 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.