XLF Implied Volatility
XLF $56.02 · Updated Oct 26, 4:00 PM ET
XLF at-the-money implied volatility is 19.7% for Oct 28, 2026 (2 days out). For Nov 27, 2026 it is 16.2%. Near-term volatility is priced above longer-dated volatility, an inverted term structure that usually accompanies an event or stress.
TERM STRUCTURE (ATM IV)
| Expiration | DTE | ATM strike | ATM IV |
|---|---|---|---|
| Oct 28, 2026 | 2 | 56 | 19.7% |
| Oct 30, 2026 | 4 | 56 | 18.7% |
| Nov 2, 2026 | 7 | 56 | 15.5% |
| Nov 4, 2026 | 9 | 56 | 17.0% |
| Nov 6, 2026 | 11 | 56 | 17.6% |
| Nov 9, 2026 | 14 | 56 | 16.0% |
| Nov 13, 2026 | 18 | 56 | 17.2% |
| Nov 20, 2026 | 25 | 56 | 16.9% |
| Nov 27, 2026 | 32 | 56 | 16.2% |
| Dec 4, 2026 | 39 | 56 | 15.1% |
| Dec 18, 2026 | 53 | 56 | 16.7% |
| Dec 31, 2026 | 66 | 56 | 16.3% |
SKEW, OCT 28, 2026
| Strike | Call IV | Put IV |
|---|---|---|
| 52 | 69.4% | 46.9% |
| 52.5 | 0.0% | 52.5% |
| 53 | 57.8% | 52.4% |
| 53.5 | 79.1% | 31.2% |
| 54 | 53.6% | 25.8% |
| 54.5 | 33.6% | 23.2% |
| 55 | 0.0% | 19.5% |
| 55.5 | 18.5% | 19.8% |
| 56 | 20.1% | 19.3% |
| 56.5 | 18.0% | 19.8% |
| 57 | 20.5% | 0.0% |
| 57.5 | 24.8% | 0.0% |
| 58 | 39.9% | 0.0% |
| 58.5 | 46.7% | 55.6% |
| 59 | 30.3% | 92.8% |
| 59.5 | 38.0% | 47.5% |
| 60 | 42.5% | 73.4% |
How this is calculated: Implied Volatility methodology