Progress Software Corporation (PRGS) 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.
Progress Software Corporation (PRGS) operates in the Technology sector, specifically the Software - Infrastructure industry, with a market capitalization near $1.62B, listed on NASDAQ, employing roughly 2,801 people, carrying a beta of 0.89 to the broader market. Progress Software Corporation (PRGS) specializes in providing technology solutions that enable businesses to create, launch, and oversee their software applications. Led by Yogesh K. Gupta, public since 1991-07-30.
Snapshot as of Oct 13, 2026.
- Spot Price
- $39.24
- ATM IV
- 316.7%
- HV 20-Day
- 41.6%
- HV 60-Day
- 46.9%
- IV Rank
- 100.0%
- IV Percentile
- 100.0%
As of Oct 13, 2026, Progress Software Corporation (PRGS) ATM implied volatility is 316.7%. 20-day realized volatility is 41.6%, producing an IV-HV spread of +275.1 vol points. Options are pricing in more volatility than the stock has recently delivered, the volatility risk premium. IV rank is 100.0%.
How PRGS iv/hv history Data Feeds Strategy Selection
Strategy selection on Progress Software Corporation 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 316.7% 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 PRGS IV vs HV chart
The dual-line chart below 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 316.7%, 100.0% IV rank, against 41.6% realized over the trailing 20 trading days. Implied is pricing above realized by 275.1 vol points, the typical variance-risk-premium positive state in which premium sellers earn the gap. 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.
PRGS IV/HV regimes and trade selection
PRGS sits in the top quartile of its 1-year IV range. High-IV-rank regimes statistically favor premium-selling - the elevated implied is more likely to mean-revert than to expand further. Iron condors, covered calls, and cash-secured puts collect more premium per unit of notional risk; size wings to the implied move and exit on first sign of HV catching up.
Using PRGS 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 0.056) 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.
PRGS 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. PRGS's current 100.0% IV rank places the ticker in the expansion or stress phase of that cycle. Premium-selling carries the typical structural tailwind here, but the mean-reverting compression that completes the cycle has historically arrived sharply rather than gradually. The ratio of HV-20 (41.6%) to HV-60 (46.9%) 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 below 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 PRGS over the last ~30 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.
| Date | ATM IV | HV 20d | HV 60d | IV Rank |
|---|---|---|---|---|
| Oct 13, 2026 | 316.7% | 41.6% | 46.9% | 100.0% |
| Oct 12, 2026 | 58.4% | 41.6% | 47.0% | 31.3% |
| Oct 9, 2026 | 51.1% | 50.6% | 47.1% | 20.1% |
| Oct 8, 2026 | 52.3% | 49.8% | 47.0% | 22.0% |
| Oct 7, 2026 | 47.4% | 48.8% | 46.8% | 14.5% |
| Oct 6, 2026 | 47.5% | 48.8% | 46.8% | 14.6% |
| Oct 5, 2026 | 49.5% | 50.3% | 47.0% | 17.7% |
| Oct 2, 2026 | 47.1% | 50.3% | 48.0% | 14.0% |
| Oct 1, 2026 | 47.3% | 51.6% | 48.0% | 14.3% |
| Sep 30, 2026 | 72.7% | 44.6% | 60.5% | 53.2% |
| Sep 29, 2026 | 70.6% | 43.1% | 61.8% | 50.0% |
| Sep 28, 2026 | 71.2% | 45.7% | 61.8% | 50.9% |
| Sep 25, 2026 | 63.1% | 45.8% | 62.1% | 38.5% |
| Sep 24, 2026 | 68.3% | 49.0% | 62.2% | 46.5% |
| Sep 23, 2026 | 64.1% | 48.4% | 63.3% | 40.0% |
PRGS highest implied-volatility contracts
| Type | Strike | Expiration | Volume | OI | IV | Bid | Ask |
|---|---|---|---|---|---|---|---|
| CALL | $40.00 | Oct 16, 2026 | 23 | 305 | 670.2% | $0.30 | $0.80 |
Top 1 contracts from the institutional-grade nightly options scan; ranked by iv within the broader S&P 500/400/600 + ETF universe.
Frequently asked PRGS iv/hv history questions
- Is PRGS options pricing rich or cheap right now?
- As of Oct 13, 2026, Progress Software Corporation (PRGS) ATM IV is 316.7% against 20-day realized volatility of 41.6%. IV rank is 100.0%. PRGS options are pricing in more volatility than the stock has recently realized: a positive variance risk premium worth 275.1 vol points.
- What is the PRGS 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. PRGS 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 PRGS 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. PRGS's current rank of 100.0% 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.