The Wendy's Company (WEN) 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.
The Wendy's Company (WEN) operates in the Consumer Cyclical sector, specifically the Restaurants industry, with a market capitalization near $1.56B, listed on NASDAQ, employing roughly 4,833 people, carrying a beta of 0.35 to the broader market. The Wendy's Company, together with its subsidiaries, operates as a quick-service restaurant company. Led by Kenneth Cook, public since 1980-05-06.
Snapshot as of May 15, 2026.
- Spot Price
- $8.11
- ATM IV
- 60.4%
- HV 20-Day
- 76.2%
- HV 60-Day
- 53.0%
- IV Rank
- 50.1%
- IV Percentile
- 98.0%
As of May 15, 2026, The Wendy's Company (WEN) ATM implied volatility is 60.4%. 20-day realized volatility is 76.2%, producing an IV-HV spread of -15.9 vol points. Realized volatility currently exceeds implied, an inversion that can signal a pending IV expansion. IV rank is 50.1%.
How WEN iv/hv history Data Feeds Strategy Selection
Strategy selection on The Wendy's Company 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 60.4% 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 →
WEN highest implied-volatility contracts
| Type | Strike | Expiration | Volume | OI | IV | Bid | Ask |
|---|---|---|---|---|---|---|---|
| PUT | $6.50 | Jun 26, 2026 | 10 | 40.0K | 60.2% | $0.05 | $0.20 |
| PUT | $8.50 | Jun 26, 2026 | 23 | 40.0K | 57.0% | $0.75 | $1.10 |
| PUT | $8.50 | Jun 26, 2026 | 23 | 40.0K | 57.0% | $0.75 | $1.10 |
| CALL | $8.00 | Jun 18, 2026 | 1.9K | 28.4K | 62.2% | $0.60 | $0.65 |
| CALL | $8.00 | Jun 18, 2026 | 1.9K | 28.4K | 62.2% | $0.60 | $0.65 |
| CALL | $8.00 | Jun 18, 2026 | 1.9K | 28.4K | 62.2% | $0.60 | $0.65 |
| PUT | $8.00 | May 29, 2026 | 1.8K | 1.6K | 61.4% | $0.20 | $0.50 |
| PUT | $6.50 | Jun 26, 2026 | 10 | 40.0K | 60.2% | $0.05 | $0.20 |
| CALL | $8.00 | Aug 21, 2026 | 248 | 20.1K | 46.3% | $0.75 | $0.80 |
| CALL | $10.00 | Jun 18, 2026 | 1.3K | 3.4K | 60.9% | $0.05 | $0.15 |
Top 10 contracts from the ORATS-sourced nightly scan; ranked by iv within the broader S&P 500/400/600 + ETF universe.
Frequently asked WEN iv/hv history questions
- Is WEN options pricing rich or cheap right now?
- As of May 15, 2026, The Wendy's Company (WEN) ATM IV is 60.4% against 20-day realized volatility of 76.2%. IV rank is 50.1%. Realized volatility currently exceeds implied: an inversion of the typical equity volatility risk premium that often precedes IV expansion.
- What is the WEN 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. WEN 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 WEN 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. WEN's current rank of 50.1% 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.