Stocks With the Most Expensive Options vs Their Own History

Implied volatility is only expensive or cheap relative to something. Here it is measured against each name’s own past: the share of trailing sessions on which its at-the-money volatility was lower than it is today. A reading of 90 means options have been cheaper than this on nine days in ten.

September 8, 2026 · 864 symbols met the liquidity bar of 50,000 open contracts · showing 100

#	Symbol	IV percentile	ATM IV	IV rank	IV / HV	1-wk move	Ticker analysis
1	EIX Utilities	95.5	43.8%	66.5	0.38	±6.1%	Analysis
2	MPC Energy	91.0	41.8%	41.3 ⚠	1.33	±5.8%	Analysis
3	DINO Energy	88.4	47.7%	55.3	1.42	±6.6%	Analysis
4	DBA Financial Services	82.4	22.0%	11.0 ⚠	2.01	±3.0%	Analysis
5	ALNY Healthcare	79.9	45.7%	9.7 ⚠	1.07	±6.3%	Analysis
6	NVS Healthcare	79.4	29.8%	12.4 ⚠	0.84	±4.1%	Analysis
7	GIS Consumer Defensive	77.9	26.7%	58.1	1.00	±3.7%	Analysis
8	CHWY Consumer Cyclical	77.4	74.4%	30.9 ⚠	1.62	±10.3%	Analysis
9	PSX Energy	70.9	36.3%	17.0 ⚠	1.24	±5.0%	Analysis
10	KLAC Technology	66.8	54.8%	22.6 ⚠	1.17	±7.6%	Analysis
11	ORCL Technology	61.8	81.4%	25.6	1.28	±11.3%	Analysis
12	GME Consumer Cyclical	60.8	56.9%	30.3	2.18	±7.9%	Analysis
13	SWKS Technology	60.8	44.0%	22.7	1.45	±6.1%	Analysis
14	ADBE Technology	60.3	59.2%	21.1	0.99	±8.2%	Analysis
15	VLO Energy	60.3	42.7%	23.2	1.38	±5.9%	Analysis
16	SNY Healthcare	59.8	22.8%	18.2 ⚠	1.70	±3.2%	Analysis
17	WHR Consumer Cyclical	58.6	45.1%	32.8	1.31	±6.2%	Analysis
18	ADM Consumer Defensive	57.3	31.3%	12.1 ⚠	1.08	±4.3%	Analysis
19	NKE Consumer Cyclical	57.3	34.6%	25.0	1.02	±4.8%	Analysis
20	CRWD Technology	57.1	48.0%	34.5	0.56	±6.6%	Analysis
21	BSX Healthcare	56.8	41.7%	23.6	1.04	±5.8%	Analysis
22	GS Financial Services	54.3	30.1%	14.9	1.22	±4.2%	Analysis
23	NXPI Technology	52.8	38.0%	30.4	1.96	±5.3%	Analysis
24	PWR Industrials	52.3	38.7%	29.9	1.15	±5.4%	Analysis
25	AZN Healthcare	51.8	31.9%	9.3 ⚠	1.36	±4.4%	Analysis
26	KIE Financial Services	51.8	19.2%	21.4	1.49	±2.7%	Analysis
27	PBR Energy	51.8	38.5%	26.0	1.03	±5.3%	Analysis
28	DELL Technology	50.8	59.6%	31.1	0.71	±8.3%	Analysis
29	QCOM Technology	50.8	39.5%	17.6	1.57	±5.5%	Analysis
30	UMC Technology	49.7	59.4%	31.6	1.49	±8.2%	Analysis
31	HPE Technology	49.2	55.7%	21.2	0.99	±7.7%	Analysis
32	NFLX Communication Services	48.7	31.4%	18.2	0.87	±4.4%	Analysis
33	ACN Technology	47.7	45.1%	15.6	1.24	±6.2%	Analysis
34	ARM Technology	47.2	62.0%	18.5	1.16	±8.6%	Analysis
35	BLDR Industrials	46.5	54.9%	40.7	1.18	±7.6%	Analysis
36	META Technology	44.7	34.1%	7.9	1.01	±4.7%	Analysis
37	CF Basic Materials	44.2	44.2%	32.6	1.02	±6.1%	Analysis
38	NUE Basic Materials	44.2	35.5%	11.0	1.05	±4.9%	Analysis
39	PANW Technology	42.7	44.7%	19.4	0.62	±6.2%	Analysis
40	GLD Financial Services	42.2	23.4%	15.4	0.83	±3.2%	Analysis
41	CLX Consumer Defensive	41.7	28.5%	19.6	1.00	±3.9%	Analysis
42	IBM Technology	41.2	29.3%	9.6	1.25	±4.1%	Analysis
43	NOK Technology	41.1	52.5%	43.6	1.13	±7.3%	Analysis
44	AAPL Technology	40.2	25.3%	7.3	1.18	±3.5%	Analysis
45	ORLY Consumer Cyclical	39.7	26.5%	11.4	1.51	±3.7%	Analysis
46	GFS Technology	37.8	48.5%	30.0	1.18	±6.7%	Analysis
47	F Consumer Cyclical	37.2	29.5%	13.6	1.02	±4.1%	Analysis
48	FTNT Technology	37.2	42.1%	24.6	0.80	±5.8%	Analysis
49	COIN Financial Services	36.7	63.3%	34.7	0.76	±8.8%	Analysis
50	SAP Technology	36.2	36.9%	12.8	1.09	±5.1%	Analysis
51	MRVL Technology	35.7	59.1%	14.8	0.70	±8.2%	Analysis
52	XOM Energy	35.2	26.3%	12.9	0.99	±3.6%	Analysis
53	STM Technology	34.3	47.8%	6.4	1.13	±6.6%	Analysis
54	GLW Technology	34.2	56.2%	24.1	0.95	±7.8%	Analysis
55	VZ Communication Services	34.2	20.7%	5.5	1.40	±2.9%	Analysis
56	MSTR Technology	33.7	72.8%	12.8	0.69	±10.1%	Analysis
57	T Communication Services	33.7	22.4%	3.9	1.37	±3.1%	Analysis
58	NU Financial Services	32.2	37.0%	18.9	0.71	±5.1%	Analysis
59	JNJ Healthcare	31.7	20.9%	14.4	1.06	±2.9%	Analysis
60	TECL Financial Services	31.7	63.2%	20.3	1.17	±8.8%	Analysis
61	ALK Industrials	31.4	46.0%	28.1	1.22	±6.4%	Analysis
62	FANG Energy	31.2	33.1%	28.0	1.19	±4.6%	Analysis
63	FLUT Consumer Cyclical	30.7	45.9%	37.4	0.86	±6.4%	Analysis
64	COST Consumer Defensive	30.2	21.7%	21.9	1.13	±3.0%	Analysis
65	TTE Energy	29.6	19.4%	13.1	1.18	±2.7%	Analysis
66	ESTC Technology	29.3	49.9%	17.7	0.61	±6.9%	Analysis
67	APH Technology	29.1	38.7%	26.4	1.18	±5.4%	Analysis
68	BABA Consumer Cyclical	29.1	39.5%	11.5	0.87	±5.5%	Analysis
69	GDX Financial Services	29.1	43.0%	7.7	0.84	±6.0%	Analysis
70	SOXL Financial Services	28.6	106.1%	25.1	1.00	±14.7%	Analysis
71	SFM Consumer Defensive	28.5	40.8%	13.0	1.03	±5.7%	Analysis
72	EWY Financial Services	28.1	44.1%	16.0	0.89	±6.1%	Analysis
73	UL Consumer Defensive	27.8	19.9%	6.7	1.36	±2.8%	Analysis
74	AGI Basic Materials	27.6	44.6%	19.1	1.02	±6.2%	Analysis
75	MET Financial Services	27.6	19.9%	13.6	1.24	±2.8%	Analysis
76	MCD Consumer Cyclical	27.1	19.3%	12.7	1.09	±2.7%	Analysis
77	CRCL Financial Services	26.6	78.0%	26.6	0.73	±10.8%	Analysis
78	HPQ Technology	26.6	44.7%	11.7	1.00	±6.2%	Analysis
79	EWZ Financial Services	26.1	29.6%	16.8	1.28	±4.1%	Analysis
80	USO Financial Services	26.1	39.3%	16.2	1.00	±5.4%	Analysis
81	INTC Technology	25.6	59.5%	11.1	1.22	±8.2%	Analysis
82	GPN Industrials	25.5	34.0%	9.1	1.05	±4.7%	Analysis
83	OKTA Technology	25.1	49.0%	17.2	0.48	±6.8%	Analysis
84	AGNC Real Estate	24.6	21.0%	19.5	1.73	±2.9%	Analysis
85	BHP Basic Materials	24.6	32.1%	26.1	1.18	±4.4%	Analysis
86	ICE Financial Services	24.6	24.5%	5.1	1.13	±3.4%	Analysis
87	INTU Technology	24.6	44.4%	17.8	0.87	±6.1%	Analysis
88	NOW Technology	24.6	49.8%	25.7	0.79	±6.9%	Analysis
89	BKR Energy	23.5	29.8%	20.3	1.00	±4.1%	Analysis
90	SMCI Technology	23.1	69.3%	18.1	0.87	±9.6%	Analysis
91	CCL Consumer Cyclical	22.6	39.6%	15.8	0.89	±5.5%	Analysis
92	CSCO Technology	22.6	27.1%	11.6	0.79	±3.8%	Analysis
93	MRK Healthcare	22.6	27.4%	18.3	0.56	±3.8%	Analysis
94	RIO Basic Materials	22.6	27.4%	23.8	1.10	±3.8%	Analysis
95	WFC Financial Services	22.6	23.0%	17.5	1.23	±3.2%	Analysis
96	AMAT Technology	22.1	50.0%	16.3	1.05	±6.9%	Analysis
97	SOXX Financial Services	22.1	36.2%	16.8	1.10	±5.0%	Analysis
98	CHTR Communication Services	21.1	45.3%	10.7	0.82	±6.3%	Analysis
99	KHC Consumer Defensive	21.1	28.4%	12.8	0.92	±3.9%	Analysis
100	LRCX Technology	21.1	56.2%	15.2	1.05	±7.8%	Analysis

Ranked on IV percentile, not IV rank. The two measure the same history and answer differently: the percentile counts days below, the rank divides by the high-to-low range, so a single bad reading anywhere in the history destroys the rank and leaves the percentile untouched. Today 78 published symbols disagree with themselves by more than 40 points; their rank is greyed and marked. Ranked among the 289 symbols with at least 50,000 open contracts and an ATM spread inside 10%.

Cheapest against their own history

The other end: names whose options have rarely been cheaper than they are today.

AFRM0 AVGO0 AXP0 DB0 FXI0 ONDS0 PPTA0 ASHR1 ASTS1 CI1 FEZ1 IYR1

How this list is built

Percentile versus rank

Both read the same trailing history. IV rank is where today sits between the lowest and highest readings; IV percentile is the share of days that were lower. Rank is more familiar and much more fragile — one corrupted or freak print sets the high and pushes every subsequent rank toward zero. The percentile does not care how extreme the outlier was, only that it was one day.

Why so many names read low

Because volatility genuinely is low. Measured across our whole history, the market-wide median at-the-money reading is at its lowest month in seventeen. When the whole market sits near the bottom of its own range, most names legitimately read near the bottom of theirs — a low reading across the board is the market, not a broken calculation.

What a high reading is and is not

It says options on that name cost more than they usually do. It does not say they are overpriced: volatility is often high because something is genuinely about to happen, and selling premium into that is a position, not a free lunch. Check the move being priced before deciding the market is wrong.

Which symbols qualify

A name needs a current at-the-money quote, an ATM spread inside 10% — vol solved from a wide quote is inflated, always upward — and at least 50,000 open contracts. Symbols with under twenty sessions of history are excluded outright rather than shown at a placeholder 50.

Other rankings

Closest to max pain Nearest their call wall Most active options Most put-heavy Biggest expected move

Go deeper on any name

Every symbol above has a full options analysis page, with its gamma walls, max pain, IV rank, option chain and put/call ratio alongside it.

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