Sphere Entertainment Co. (SPHR) 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.
Sphere Entertainment Co. (SPHR) operates in the Communication Services sector, specifically the Entertainment industry, with a market capitalization near $4.75B, listed on NYSE, employing roughly 1,080 people, carrying a beta of 1.68 to the broader market. Sphere Entertainment Co. Led by James Lawrence Dolan, public since 2020-04-09.
Snapshot as of May 15, 2026.
- Spot Price
- $135.38
- ATM IV
- 54.0%
- HV 20-Day
- 55.0%
- HV 60-Day
- 54.0%
- IV Rank
- 26.2%
- IV Percentile
- 46.8%
As of May 15, 2026, Sphere Entertainment Co. (SPHR) ATM implied volatility is 54.0%. 20-day realized volatility is 55.0%, producing an IV-HV spread of -1.0 vol points. Realized volatility currently exceeds implied, an inversion that can signal a pending IV expansion. IV rank is 26.2%.
How SPHR iv/hv history Data Feeds Strategy Selection
Strategy selection on Sphere Entertainment Co. 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 54.0% 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 →
SPHR highest implied-volatility contracts
| Type | Strike | Expiration | Volume | OI | IV | Bid | Ask |
|---|---|---|---|---|---|---|---|
| CALL | $150.00 | Nov 20, 2026 | 0 | 4.0K | 57.1% | $16.10 | $19.00 |
Top 1 contracts from the ORATS-sourced nightly scan; ranked by iv within the broader S&P 500/400/600 + ETF universe.
Frequently asked SPHR iv/hv history questions
- Is SPHR options pricing rich or cheap right now?
- As of May 15, 2026, Sphere Entertainment Co. (SPHR) ATM IV is 54.0% against 20-day realized volatility of 55.0%. IV rank is 26.2%. Realized volatility currently exceeds implied: an inversion of the typical equity volatility risk premium that often precedes IV expansion.
- What is the SPHR 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. SPHR 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 SPHR 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. SPHR's current rank of 26.2% 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.