CarMax, Inc. (KMX) 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.
CarMax, Inc. (KMX) operates in the Consumer Cyclical sector, specifically the Auto - Dealerships industry, with a market capitalization near $5.26B, listed on NYSE, employing roughly 30,048 people, carrying a beta of 1.18 to the broader market. CarMax, Inc. Led by Keith Barr, public since 1997-02-04.
Snapshot as of May 15, 2026.
- Spot Price
- $37.01
- ATM IV
- 68.0%
- HV 20-Day
- 39.0%
- HV 60-Day
- 58.0%
- IV Rank
- 61.5%
- IV Percentile
- 85.3%
As of May 15, 2026, CarMax, Inc. (KMX) ATM implied volatility is 68.0%. 20-day realized volatility is 39.0%, producing an IV-HV spread of +29.0 vol points. Options are pricing in more volatility than the stock has recently delivered, the volatility risk premium. IV rank is 61.5%.
How KMX iv/hv history Data Feeds Strategy Selection
Strategy selection on CarMax, Inc. 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 68.0% 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 →
KMX highest implied-volatility contracts
| Type | Strike | Expiration | Volume | OI | IV | Bid | Ask |
|---|---|---|---|---|---|---|---|
| CALL | $90.00 | Jan 21, 2028 | 312 | 213 | 50.6% | $1.50 | $2.10 |
Top 1 contracts from the ORATS-sourced nightly scan; ranked by iv within the broader S&P 500/400/600 + ETF universe.
Frequently asked KMX iv/hv history questions
- Is KMX options pricing rich or cheap right now?
- As of May 15, 2026, CarMax, Inc. (KMX) ATM IV is 68.0% against 20-day realized volatility of 39.0%. IV rank is 61.5%. KMX options are pricing in more volatility than the stock has recently realized: a positive variance risk premium worth 29.0 vol points.
- What is the KMX 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. KMX 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 KMX 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. KMX's current rank of 61.5% 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.