International Flavors & Fragrances Inc. (IFF) Expected Move
Expected move estimates the probable price range for a given period based on at-the-money options pricing. It reflects the market consensus for volatility over the selected timeframe.
International Flavors & Fragrances Inc. (IFF) operates in the Basic Materials sector, specifically the Chemicals - Specialty industry, with a market capitalization near $19.78B, listed on NYSE, employing roughly 22,400 people, carrying a beta of 0.94 to the broader market. International Flavors & Fragrances Inc. Led by Jon Erik Fyrwald, public since 1974-12-17.
Snapshot as of May 15, 2026.
- Spot Price
- $73.25
- Expected Move
- 9.0%
- Implied High
- $79.84
- Implied Low
- $66.66
- Front DTE
- 34 days
As of May 15, 2026, International Flavors & Fragrances Inc. (IFF) has an expected move of 9.00%, a one-standard-deviation implied price range of roughly $66.66 to $79.84 from the current $73.25. Expected move is derived from at-the-money straddle pricing and represents the market's pricing of a ±1σ move. Roughly 68% of outcomes should fall within this range under lognormal assumptions, though empirical markets have fatter tails.
IFF Strategy Sizing to the Expected Move
With International Flavors & Fragrances Inc. pricing an expected move of 9.00% from $73.25, risk-defined strategies sized to the implied range structurally target the modal outcome distribution. Iron condors with wings at the ±1σ expected move boundaries collect premium against the ~68% probability that spot stays inside the range under lognormal assumptions; strangles set wider at ±1.5σ or ±2σ target the tails but pay smaller per-trade premium. Long-vol structures (long straddles, ratio backspreads) profit when realized move exceeds the implied move, the inverse trade: they bet against the lognormal assumption itself, capitalizing on the empirically fatter equity-return tails.
Learn how expected move is reported and how to read the data →
Per-expiration expected move for IFF derived from ATM implied volatility at each listed expiration. Implied high/low bounds are computed as $73.25 × (1 ± expected move %). One standard-deviation range under lognormal assumptions, roughly 68% of outcomes fall inside.
| Expiration | DTE | ATM IV | Expected Move | Implied High | Implied Low |
|---|---|---|---|---|---|
| Jun 18, 2026 | 34 | 31.4% | 9.6% | $80.27 | $66.23 |
| Jul 17, 2026 | 63 | 30.8% | 12.8% | $82.62 | $63.88 |
| Aug 21, 2026 | 98 | 34.3% | 17.8% | $86.27 | $60.23 |
| Sep 18, 2026 | 126 | 33.8% | 19.9% | $87.80 | $58.70 |
| Nov 20, 2026 | 189 | 35.2% | 25.3% | $91.80 | $54.70 |
| Dec 18, 2026 | 217 | 35.0% | 27.0% | $93.02 | $53.48 |
| Mar 19, 2027 | 308 | 34.2% | 31.4% | $96.26 | $50.24 |
Frequently asked IFF expected move questions
- What is the current IFF expected move?
- As of May 15, 2026, International Flavors & Fragrances Inc. (IFF) has an expected move of 9.00% over the next 34 days, implying a one-standard-deviation price range of $66.66 to $79.84 from the current $73.25. The expected move is derived from at-the-money straddle pricing and represents the market consensus for a ±1σ price move.
- What does the IFF expected move mean for traders?
- Roughly 68% of outcomes should fall within ±1 expected move and 95% within ±2 under lognormal assumptions, though equity returns have empirically fatter tails than log-normal predicts. Strategies sized to the expected move (iron condors at ±1σ, strangles at ±1.5σ) target the typical outcome distribution; strategies that profit from tail moves (long-vol structures, ratio backspreads) target the tails the lognormal model under-prices.
- How is IFF expected move calculated?
- The expected move displayed here is derived from at-the-money implied volatility scaled to the chosen tenor: expected move % is approximately ATM IV times sqrt(T / 365), where T is days to expiration. An equivalent straddle-based form: the ATM straddle (call + put at the same strike) is roughly sqrt(2/pi) times spot times IV times sqrt(T/365), so the implied one-standard-deviation move is approximately 1.25 times ATM straddle divided by spot. The two formulations agree once the sqrt(2/pi) constant is reconciled.