Volatility

Ex-Earnings HV

By Ryan Silk & Lawrence Polatchek · Reviewed April 2026 · Options Trading Glossary

HV with earnings day moves stripped out

What is Ex-Earnings HV?

Ex-Earnings HV Historical volatility calculated after removing earnings announcement day moves from the dataset. Shows the stock's underlying volatility regime without event distortion. The gap between regular HV and ex-earnings HV reveals how much earnings events contribute to overall realized vol.

Complete Definition

Historical volatility calculated after removing earnings announcement day moves from the dataset. Shows the stock's underlying volatility regime without event distortion. The gap between regular HV and ex-earnings HV reveals how much earnings events contribute to overall realized vol.

Example

AMZN's 20-day HV is 35% but ex-earnings HV is only 22%. The 13-point gap shows earnings moves are a huge vol driver — important for pricing straddles around earnings.

Related Terms

Historical Volatility Hv Regime Earnings Straddle

Written by

ApexVol Research Team

Quantitative options research

All calculations use live ORATS institutional data — the same source used by professional volatility desks.

Technical reviewer

Ryan Silk, ApexVol Founder

Reviewed for technical accuracy

10+ years trading options. Built ApexVol's pricing engine, Greeks model, and IV-rank methodology.

This guide is updated as market conditions and ORATS data change. Last revised 2026-05-12. How we research →

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