ON Semiconductor Corporation (ON) 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.
ON Semiconductor Corporation (ON) operates in the Technology sector, specifically the Semiconductors industry, with a market capitalization near $45.35B, listed on NASDAQ, employing roughly 26,400 people, carrying a beta of 1.94 to the broader market. ON Semiconductor Corporation provides intelligent sensing and power solutions worldwide. Led by Hassane S. El-Khoury, public since 2000-05-02.
Snapshot as of May 15, 2026.
- Spot Price
- $113.87
- ATM IV
- 66.7%
- IV Skew 25Δ
- -0.047
- IV Rank
- 79.2%
- IV Percentile
- 90.5%
- Term Structure Slope
- -0.014
As of May 15, 2026, ON Semiconductor Corporation (ON) at-the-money implied volatility is 66.7%. IV rank is 79.2% (where 0% is the 52-week low and 100% is the 52-week high). IV percentile is 90.5%. The 25-delta skew is -0.047: 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.
ON Strategy Selection at Current Volatility Levels
For ON Semiconductor Corporation options at 66.7% ATM IV, high IV rank (79.2%) favors premium-selling structures: credit spreads, iron condors, covered calls, cash-secured puts. The risk: a continued vol expansion through high-rank levels is rare but expensive when it happens. 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.
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Frequently asked ON volatility skew questions
- What is the current ON ATM implied volatility?
- As of May 15, 2026, ON Semiconductor Corporation (ON) at-the-money implied volatility is 66.7%. IV rank is 79.2% 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 ON IV high or low historically?
- IV is elevated relative to its 1-year history, conditions that typically favor premium-selling strategies (credit spreads, iron condors, covered calls).
- What does ON volatility skew tell options traders?
- Volatility skew is the pattern by which IV varies across strikes for a given expiration. ON Semiconductor Corporation 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.