Under Armour, Inc. (UAA) 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.
Under Armour, Inc. (UAA) operates in the Consumer Cyclical sector, specifically the Apparel - Manufacturers industry, with a market capitalization near $2.18B, listed on NYSE, employing roughly 6,800 people, carrying a beta of 1.73 to the broader market. Under Armour, Inc. Led by Kevin A. Plank, public since 2005-11-18.
Snapshot as of May 15, 2026.
- Spot Price
- $5.21
- ATM IV
- 54.2%
- IV Skew 25Δ
- -0.090
- IV Rank
- 19.1%
- IV Percentile
- 54.0%
- Term Structure Slope
- 0.022
As of May 15, 2026, Under Armour, Inc. (UAA) at-the-money implied volatility is 54.2%. IV rank is 19.1% (where 0% is the 52-week low and 100% is the 52-week high). IV percentile is 54.0%. The 25-delta skew is -0.090: 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.
UAA Strategy Selection at Current Volatility Levels
For Under Armour, Inc. options at 54.2% ATM IV, low IV rank (19.1%) 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 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.
Learn how volatility skew is reported and how to read the data →
UAA highest implied-volatility contracts
| Type | Strike | Expiration | Volume | OI | IV | Bid | Ask |
|---|---|---|---|---|---|---|---|
| PUT | $7.50 | Jan 15, 2027 | 0 | 123.5K | 56.5% | $2.45 | $2.70 |
| PUT | $5.00 | Jan 15, 2027 | 0 | 121.4K | 57.3% | $0.70 | $0.90 |
| CALL | $7.50 | Jan 15, 2027 | 22 | 46.6K | 56.5% | $0.30 | $0.45 |
| CALL | $6.00 | Jun 18, 2026 | 2.6K | 947 | 55.7% | $0.10 | $0.15 |
| CALL | $6.00 | Jun 18, 2026 | 2.6K | 947 | 55.7% | $0.10 | $0.15 |
| PUT | $5.00 | Jan 15, 2027 | 0 | 121.4K | 57.3% | $0.70 | $0.90 |
| PUT | $7.50 | Jan 15, 2027 | 0 | 123.5K | 56.5% | $2.45 | $2.70 |
| CALL | $6.00 | Oct 16, 2026 | 254 | 137 | 55.1% | $0.45 | $0.55 |
Top 8 contracts from the ORATS-sourced nightly scan; ranked by iv within the broader S&P 500/400/600 + ETF universe.
Frequently asked UAA volatility skew questions
- What is the current UAA ATM implied volatility?
- As of May 15, 2026, Under Armour, Inc. (UAA) at-the-money implied volatility is 54.2%. IV rank is 19.1% 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 UAA 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 UAA volatility skew tell options traders?
- Volatility skew is the pattern by which IV varies across strikes for a given expiration. Under Armour, Inc. 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.