Theravance Biopharma, Inc. (TBPH) 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.
Theravance Biopharma, Inc. (TBPH) operates in the Healthcare sector, specifically the Biotechnology industry, with a market capitalization near $859.4M, listed on NASDAQ, employing roughly 97 people, carrying a beta of 0.19 to the broader market. Theravance Biopharma, Inc. Led by Rick E. Winningham, public since 2014-05-16.
Snapshot as of May 15, 2026.
- Spot Price
- $16.41
- ATM IV
- 101.7%
- HV 20-Day
- 22.7%
- HV 60-Day
- 70.0%
- IV Rank
- 24.6%
- IV Percentile
- 67.5%
As of May 15, 2026, Theravance Biopharma, Inc. (TBPH) ATM implied volatility is 101.7%. 20-day realized volatility is 22.7%, producing an IV-HV spread of +79.0 vol points. Options are pricing in more volatility than the stock has recently delivered, the volatility risk premium. IV rank is 24.6%.
How TBPH iv/hv history Data Feeds Strategy Selection
Strategy selection on Theravance Biopharma, 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 101.7% and dealer gamma exposure is negative, so dealer hedging amplifies directional moves. 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 →
Frequently asked TBPH iv/hv history questions
- Is TBPH options pricing rich or cheap right now?
- As of May 15, 2026, Theravance Biopharma, Inc. (TBPH) ATM IV is 101.7% against 20-day realized volatility of 22.7%. IV rank is 24.6%. TBPH options are pricing in more volatility than the stock has recently realized: a positive variance risk premium worth 79.0 vol points.
- What is the TBPH 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. TBPH 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 TBPH 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. TBPH's current rank of 24.6% 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.