ARS Pharmaceuticals, Inc. (SPRY) 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.
ARS Pharmaceuticals, Inc. (SPRY) operates in the Healthcare sector, specifically the Biotechnology industry, with a market capitalization near $795.4M, listed on NASDAQ, employing roughly 155 people, carrying a beta of 0.80 to the broader market. ARS Pharmaceuticals, Inc. Led by Richard E. Lowenthal, public since 2020-12-04.
Snapshot as of May 15, 2026.
- Spot Price
- $7.38
- ATM IV
- 92.0%
- IV Skew 25Δ
- 0.170
- IV Rank
- 23.3%
- IV Percentile
- 58.7%
- Term Structure Slope
- 0.297
As of May 15, 2026, ARS Pharmaceuticals, Inc. (SPRY) at-the-money implied volatility is 92.0%. IV rank is 23.3% (where 0% is the 52-week low and 100% is the 52-week high). IV percentile is 58.7%. The 25-delta skew is +0.170: calls carry premium over puts, indicating upside speculation or squeeze risk. High IV rank typically favors premium-selling strategies; low IV rank favors premium-buying.
SPRY Strategy Selection at Current Volatility Levels
For ARS Pharmaceuticals, Inc. options at 92.0% ATM IV, low IV rank (23.3%) favors premium-buying or long-vol structures: long calls or puts, debit spreads, calendar spreads, long straddles. The risk: low-rank regimes can persist for months while time decay eats premium-buyers alive. The 25-delta skew tilts to calls, so call-credit spreads or covered-call writes harvest more premium than put-credit spreads of the same width. 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.
Learn how volatility skew is reported and how to read the data →
Frequently asked SPRY volatility skew questions
- What is the current SPRY ATM implied volatility?
- As of May 15, 2026, ARS Pharmaceuticals, Inc. (SPRY) at-the-money implied volatility is 92.0%. IV rank is 23.3% 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 SPRY IV high or low historically?
- IV is subdued relative to its 1-year history, conditions that typically favor premium-buying strategies (long calls, long puts, debit spreads, calendar spreads).
- What does SPRY volatility skew tell options traders?
- Volatility skew is the pattern by which IV varies across strikes for a given expiration. ARS Pharmaceuticals, Inc. shows upside-skewed pricing: 25-delta calls trade richer than 25-delta puts, often reflecting upside speculation or squeeze risk. 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.