MarketXLS

Implied Volatility (20 Day)

Returns the 20-day implied volatility, which represents the market's expectation of price movement over the next 20 trading days (approximately 1 calendar month).

What is 20-Day IV?

20-day IV is calculated from options expiring in approximately 20 trading days. It's useful for:

  • Monthly options trading
  • Short to medium-term strategies
  • Comparing to 30-day IV for term structure analysis

Return Value

Returns a decimal value representing annualized volatility:

  • 0.20 = 20% annualized IV
  • 0.50 = 50% annualized IV

Parameters

Parameter Type Required Description
Symbol string Yes Stock ticker symbol
StartDate date No Historical date (defaults to current)

Syntax

=ImpliedVolatility20d(Symbol, [StartDate])
Excel Desktop (Windows)

Parameters

symbolstringRequired

Stock ticker symbol

startDatedate

Historical date to retrieve IV for (optional, defaults to current)

Returns

number

20-day implied volatility as a decimal (e.g., 0.25 for 25%)

Examples

=ImpliedVolatility20d("AAPL")
Apple 20-day IV
=ImpliedVolatility20d("TSLA")
Tesla 20-day IV
=ImpliedVolatility20d("SPY")
SPY 20-day IV
=ImpliedVolatility20d("AAPL",DATE(2024,1,15))
Historical 20-day IV
=ImpliedVolatility20d(A1)
Symbol from cell
=ImpliedVolatility20d("AAPL")*100
Convert to percentage

When to Use

  • Monthly options trading
  • Comparing IV term structure
  • Near-month volatility analysis
  • Short-term strategy planning

When NOT to Use

Scenario Use Instead
Need standard benchmark IV ImpliedVolatility30d()
Need weekly options ImpliedVolatility10d()
Need IV ranking ImpliedVolatilityRank1m()
Need longer-term ImpliedVolatility60d() or ImpliedVolatility1y()

Common Issues & FAQ

Why use 20-day instead of 30-day IV?

20-day IV is closer to actual monthly option expiration cycles (which are roughly 21 trading days). 30-day is the standard benchmark but 20-day may be more relevant for specific monthly trades.

How do I convert to percentage?

Multiply by 100: =ImpliedVolatility20d("AAPL")*100

How do I compare 20-day to 30-day IV?

Use: =ImpliedVolatility20d("AAPL")-ImpliedVolatility30d("AAPL") to see the term structure difference.

Related Formulas

More MarketXLS Options formulas you can use in the same worksheet:

See ImpliedVolatility20d used in a complete workbook: Implied Volatility Data MCP: Pull Live IV, IV Rank and Term Structure Into Excel and Any AI Assistant

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