IV Percentile vs IV Rank

The percentage of trading days in the past year on which implied volatility was lower than its current level; more robust than IV Rank when the 52-week high was an extreme outlier; IV Percentile above 70 indicates elevated premium; below 30 indicates compressed premium.

A measure of current implied volatility relative to its 52-week high and low; calculated as (current IV − 52-week low) / (52-week high − 52-week low) × 100; IV Rank above 50 indicates elevated premium; IV Rank below 30 indicates compressed premium, favoring different options strategies.