MarketXLS

Implied Volatility Rank (1 Month)

Returns the implied volatility rank based on a 1-month lookback period. IV Rank shows where the current IV stands relative to its high and low over the specified period.

Calculation

IV Rank = (Current IV - 1m Low IV) / (1m High IV - 1m Low IV) * 100

Interpretation

IV Rank Meaning Strategy Implication
0-25 Low IV Consider buying options
25-50 Below average Neutral
50-75 Above average Consider selling options
75-100 High IV Favor selling strategies

Parameters

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

Notes

  • 1-month is a shorter lookback period (more reactive to recent changes)
  • For longer-term perspective, use ImpliedVolatilityRank1y()
  • IV Rank is different from IV Percentile

Syntax

=ImpliedVolatilityRank1m(Symbol, [StartDate])
Excel Desktop (Windows)

Parameters

symbolstringRequired

Stock ticker symbol

startDatedate

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

Returns

number

IV Rank as a percentage (0-100)

Examples

=ImpliedVolatilityRank1m("AAPL")
Current 1m IV rank for Apple
=ImpliedVolatilityRank1m("TSLA")
Tesla 1m IV rank
=ImpliedVolatilityRank1m("SPY")
SPY 1m IV rank
=ImpliedVolatilityRank1m("AAPL",DATE(2024,1,15))
Historical IV rank
=ImpliedVolatilityRank1m(A1)
Symbol from cell

When to Use

  • Deciding between buying or selling options
  • Screening for high/low IV stocks
  • Timing options strategies
  • Short-term volatility analysis

When NOT to Use

Scenario Use Instead
Need longer-term perspective ImpliedVolatilityRank1y()
Need IV percentile ImpliedVolatilityPct1m()
Need raw IV value ImpliedVolatility()
Need historical IV ImpliedVolatility10d(), etc.

Common Issues & FAQ

What's the difference between IV Rank and IV Percentile?

  • IV Rank: Where current IV is relative to the range (high-low)
  • IV Percentile: What percentage of days had lower IV

Why is 1-month rank different from 1-year rank?

The 1-month rank uses a shorter lookback period, so it reflects more recent volatility changes. The 1-year rank provides a longer-term perspective.

What's considered high IV Rank?

Generally, above 50 is considered elevated, and above 75 is considered high. Use this to favor selling options strategies.

Related Formulas

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

See ImpliedVolatilityRank1m used in a complete workbook: option data in claude: a complete workflow guide using MarketXLS MCP

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