Volatility Board

One row per symbol with four volatility measures, each with its level and the model's 21-session forecast of its direction.

volBoard Lag 1+ session 2026-10-31 Open in a dashboard
Live data: vol-board in a dashboardReal data from 2026-10-31

What it answers

The Volatility Board displays one row for each tracked symbol. For each of four measures, a row shows today's value and whether the model expects a meaningful move within the next 21 sessions.

How to read it

  1. 1The first header row lists the four measures, with three columns under each.
  2. 2The second header row lists the three columns: Chance, Move and Level. Hover a column name to see its definition.
  3. 3Chance is the move probability, as a whole percent.
  4. 4Move is the direction the model expects. A dash means the model gives no direction.
  5. 5Dashes in both Chance and Move mark a column that the model rates unreliable. The Level is still shown.
  6. 6The footer defines Chance, then lists the reason for each column that shows the Level only.

Columns

  • Level: the measure's value today, to one decimal place. VRP, IV and RV are in vol points; VoV is in percent of IV. Compare a Level with the same column on other days for the same symbol, not with other columns.
  • Chance: the probability that the measure moves by at least a quarter of its own 21-session dispersion within 21 sessions. Chance describes the measure. It is not the chance that a trade makes money.
  • Move: RICHEN or CHEAPEN in the VRP column; UP or DOWN in the IV, RV and VoV columns. A direction is shown only when Chance is at or above the 0.65 floor.

A positive VRP Level means that ex-earnings implied volatility is above the forecast of historical volatility, so options price more movement than the forecast. A negative Level means options price less. The Level tooltip labels negative values CHEAP and positive values RICH. This VRP is a difference in vol points, so its values are not comparable with the ratio on the VRP Series chart.

Footer

The footer displays this line:

probability that the metric moves at least a quarter of its own 21-session dispersion, by t+21. not a probability of profit. floor 0.65.

Below that line, the footer lists the symbol, the measure and the reason for each level-only column.

Dashes

A dash does not mean zero or a flat forecast. It means one of the following:

  • Dash in Move only: Chance is below the floor, so the model gives no direction.
  • Dashes in Chance and Move: the model rates the column unreliable, and the Volatility Board shows the Level only.

What the values cover

The Volatility Board displays values computed on the server. The browser does no calculation. For an unhedged option seller, the VRP, IV, RV and VoV columns forecast whether the premium and the volatility behind it rise or fall. The Volatility Board does not suggest a strike, expiry or price. It does not estimate profit or loss, and it assumes no hedge. The row order is the sort you select and does not rank trades.

The data updates once a day before the open, so every row shows the previous trading day's close. All rows use the latest trade date that every symbol shares. The Volatility Board does not display that date.

Controls

  • Header chips (VRP, IV, RV, VoV): click a chip to sort the rows by that measure. VRP is the default.
  • Display (widget menu): click Chance to sort by Chance. Click E-Move to sort by the median 21-session change.

The Volatility Board does not display E-Move values. Rows sort from high to low, and a row with no value sorts last.

Neither control changes a cell or fetches new data. The column order is fixed: Ticker, then VRP, IV, RV and VoV.

ControlWhat it does
metricwhich measure orders the rows
sortKeysort by Chance or by E-Move

Use it with

  • Options Dispatch lists straddles and strangles to sell. Its Curated view selects cards by two fixed gates and does not use the Volatility Board.
  • VRP Series and IV vs HV chart one symbol's premium and volatilities over time.