Volatility

Open-Range HV

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

HV from intraday ranges only, excludes overnight gaps

What is Open-Range HV?

Open-Range HV Historical volatility calculated from intraday price ranges (open to high/low), excluding overnight gaps. Isolates session-only volatility. Useful for day traders and for identifying whether overnight events or intraday trading is driving realized vol.

Complete Definition

Historical volatility calculated from intraday price ranges (open to high/low), excluding overnight gaps. Isolates session-only volatility. Useful for day traders and for identifying whether overnight events or intraday trading is driving realized vol.

Example

A stock's open-range HV is 35% while close-to-close is 35% — intraday trading is the main vol source. If close-to-close jumps to 50% while open-range stays at 35%, overnight gaps are adding vol.

Related Terms

Close To Close Hv Historical Volatility Hv Regime

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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