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Healthcare · Biotech

BIIB Implied Volatility, IV Rank & Options Chain

Biogen Inc. (BIIB) options data: IV rank, options chain, GEX and Greeks. Comprehensive options market data for Biogen Inc.

Updated Reference data
Open BIIB in the Terminal BIIB GEX levels IV Intelligence Positioning

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On this page
  1. Key facts
  2. Company overview
  3. Options market
  4. Volatility profile
  5. GEX analysis
  6. Common strategies
  7. FAQ

BIIB options trade with implied volatility typically in the 40% - 100% range, averaging 50K+ contracts in daily volume with moderate liquidity. Next earnings: Check earnings calendar. Weekly options and LEAPS are available.

BIIB implied volatility

As of 2026-10-26

As of 2026-10-26, BIIB's 30-day implied volatility is 46.9%, placing its 1-year IV percentile at 87.0 — above 87.0% of the past year's daily IV readings, an elevated, premium-selling regime favoring credit spreads, iron condors and short strangles.

46.9%30-day IV
87.01-year IV rank

BIIB live chain, Greeks and GEX

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Every figure above is reference data. The live BIIB chain, its Greeks, the gamma profile and the flow tape update through the session inside the Terminal.

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BIIB options at a glance

Daily volume
50K+ contracts
IV range
40% - 100%
Bid-ask spread
Varies by strike
Expirations
Weekly, monthly, LEAPS
Open interest
300K+ contracts
Next earnings
Check earnings calendar
50K+ contractsAvg Volume
300K+ contractsOpen Interest
40% - 100%IV Range
ModerateLiquidity
YesWeeklies
YesLEAPS

About Biogen Inc. (BIIB)

Biogen Inc. trades on NASDAQ. Options on BIIB are actively traded by retail and institutional investors.

Company profile

Sector
Healthcare
Industry
Biotechnology
Market cap
Mid Cap
Exchange
NASDAQ

Key dates

Next earnings
Check earnings calendar
Earnings frequency
Quarterly
Dividend schedule
Varies
Fiscal year end
December

BIIB is an actively traded options name in the Biotechnology space.

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  • Live chains and Greeks
  • IV rank and percentile
  • Expected move and GEX
  • Screener and strategy P&L
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BIIB options market overview

BIIB options offer moderate liquidity for traders seeking exposure to Biotechnology.

Average daily volume
50K+ contracts
Total open interest
300K+ contracts
Put/call ratio
0.6 - 1.0 typical
Typical ATM spread
Varies by strike
Weekly options
Available
LEAPS available
Yes

Liquidity assessment: Moderate

BIIB options provide moderate liquidity for most trading strategies.

BIIB implied volatility and IV rank

BIIB implied volatility reflects market expectations for Biogen Inc. price movement.

40% - 55%Low IV, below average
55% - 75%Typical, normal conditions
75% - 100%Elevated, above average

Earnings impact

IV typically increases before earnings and contracts afterward (IV crush).

The post-earnings volatility drop is known as IV crush. Holders of short BIIB options should also understand early assignment risk around dividends and expiration.

Historical volatility vs IV

Compare IV to historical volatility to assess option pricing relative to realized moves.

Term structure

Term structure varies with market conditions and upcoming events.

The smile, the term structure and the cone for BIIB, on today's chain.

Open BIIB in IV Intelligence

BIIB gamma exposure (GEX)

Gamma Exposure (GEX) analysis for BIIB shows how dealer hedging may impact price behavior.

  • Typical GEX profile. GEX profile varies based on market conditions and option positioning.
  • Key levels. Major put and call walls at round number strikes may act as support/resistance.
  • Dealer hedging. Dealer hedging activity can influence price behavior at key gamma levels.

Where the gamma sits on BIIB right now, strike by strike.

See live BIIB GEX

Common BIIB options strategies

These are strategies commonly used by traders on BIIB options, based on typical market characteristics. This is not investment advice.

StraddlesVolatility. Used by BIIB traders for volatility exposure. Moderate liquidity supports efficient execution. Vertical SpreadsDirectional. Used by BIIB traders for directional exposure. Moderate liquidity supports efficient execution. Iron CondorsNeutral. Used by BIIB traders for neutral exposure. Moderate liquidity supports efficient execution. StranglesVolatility. Used by BIIB traders for volatility exposure. Moderate liquidity supports efficient execution. ButterfliesPrecision. Used by BIIB traders for precision exposure. Moderate liquidity supports efficient execution.

Every options strategy, ranked by what it is for

Key considerations for BIIB options

  • BIIB options liquidity: Moderate - affects execution quality
  • IV range: 40% - 100% - important for premium selling strategies
  • Earnings events can significantly impact IV and option prices
  • Consider position sizing based on underlying volatility
  • Weekly options available for short-term strategies
  • LEAPS available for longer-term positioning

BIIB key events

Earnings months. Q1, Q2, Q3, Q4

  • Industry conferences
  • Product announcements
  • Regulatory updates

BIIB options data by API, or in Claude

Every number on this page is one request away. The implied volatility API returns BIIB's IV rank and percentile, the gamma exposure API its dealer positioning by strike, and the chain API every strike with Greeks. Connected to the ApexVol MCP server, Claude, Cursor or ChatGPT can ask for them in plain English.

GET /api/mcp/data/iv-rank/BIIBBearer token, JSON back
curl -H "Authorization: Bearer avmcp_YOUR_TOKEN" \
     "https://apexvol.com/api/mcp/data/iv-rank/BIIB"
In Claudethrough the MCP server
You

What is BIIB's IV rank right now, and where is its gamma flip?

Claude calls get_iv_rank and get_gex

Try GEX on BIIB in the console, more prompts for BIIB, or set the server up in Claude Desktop, Claude Code, Cursor or ChatGPT.

Written by
ApexVol Research Team
Quantitative options research. All calculations use live institutional-grade data — the same source professional volatility desks use.
Reviewed by
Ryan Silk, ApexVol Founder
Reviewed for technical accuracy. 10+ years trading options; built ApexVol's pricing engine, Greeks model and IV-rank methodology.

Revised as market conditions and institutional data change. Last revised 2026-10-26. How we research →

Track this name's volatility weekly. The week's biggest IV movers and the expected earnings moves, straight from the data.

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Questions

Frequently asked
about BIIB options.

What are BIIB options?

BIIB options are derivative contracts that give you the right to buy (call) or sell (put) Biogen Inc. shares at a specific price before expiration.

How do I analyze BIIB implied volatility?

BIIB IV typically ranges from 40% - 55% during quiet periods to 75% - 100% around earnings and major events. Compare current IV to historical ranges to assess relative value.

What is the typical bid-ask spread for BIIB options?

BIIB options have moderate liquidity with typical spreads varying by strike and expiration. ATM options generally have tighter spreads.

When does BIIB report earnings?

Biogen Inc. typically reports earnings quarterly. Check the earnings calendar for exact dates as IV tends to increase before announcements.

What strategies work best for BIIB options?

Popular BIIB strategies include straddles, vertical spreads, and iron condors. Strategy selection depends on market outlook and risk tolerance.

What is the best time to trade BIIB options?

The most liquid trading hours for BIIB options are typically during regular market hours (9:30 AM - 4:00 PM ET), with highest volume around market open and close.

How do I calculate BIIB option Greeks?

Use our free Options Calculator or Greeks Heatmap tool to calculate delta, gamma, theta, vega and other Greeks for BIIB options across all strikes and expirations.

What happens to BIIB options at expiration?

In-the-money BIIB options are typically auto-exercised at expiration. Out-of-the-money options expire worthless. Consider closing positions before expiration to avoid assignment risk.

What is BIIB's gamma exposure (GEX)?

Gamma exposure (GEX) measures how options dealers' hedging of their net gamma position can influence BIIB's intraday price action. GEX profile varies based on market conditions and option positioning. Dealer hedging activity can influence price behavior at key gamma levels. Positive GEX tends to dampen volatility and create mean-reverting moves, while negative GEX can amplify swings. View live BIIB GEX levels and the gamma-flip point on ApexVol.

What is BIIB's IV rank?

BIIB's IV rank shows where BIIB's current implied volatility sits within its trailing 1-year range, scored 0–100. A reading near 100 means IV is near its yearly high — options are relatively expensive, which favors premium-selling strategies like credit spreads and iron condors. A reading near 0 means IV is near its yearly low, favoring premium-buying. BIIB implied volatility typically ranges from 40% - 100%. Check BIIB's live IV rank and percentile on ApexVol's IV analytics.

Keep reading

Where BIIB
gets priced.

BIIB analytics

Options CalculatorCalculate option prices and Greeks IV CalculatorAnalyze implied volatility Strategy BuilderBuild and analyze options strategies

Run it, do not just read it

Options profit calculatorPayoff, breakeven and Greeks. Greeks calculatorDelta, gamma, theta, vega. IV rank calculatorImplied volatility and IV rank. Options chainReal-time Greeks on a live chain. Greeks heatmapWhere the exposure actually sits. Volatility labIV analysis across the surface. Strategy simulatorTest the structure before you place it. IV intelligenceThe surface in three dimensions. Options screenerFind the setups worth a look. Historical dataPast snapshots, back to 2007. EarningsHistorical moves and the IV around them. 0DTE analyticsSame-day expiration, same-day risk.

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