ELV Gamma Exposure, IV Rank & Implied Volatility
Elevance Health (ELV) options data — GEX, IV rank, options chain & Greeks
ELV options trade with implied volatility typically in the 18% - 40% range, averaging N/A in daily volume with very good liquidity. Next earnings: See earnings calendar. Weekly options and LEAPS are available.
An IV rank near 83.6 (the value shown here is illustrative) would mean implied volatility is in roughly the 83.6th percentile of its 1-year range — elevated, premium-selling regime for credit spreads, iron condors, and short strangles. For today's live ELV IV rank from ORATS, open the dashboard.
Chart shows simulated data for display purposes. View the real ELV IV history on the live platform →
Comprehensive options market data for Elevance Health (ELV).
ELV Options at a Glance
What's Covered in This Guide
1 About Elevance Health (ELV)
Elevance Health (ELV) is a health insurance company listed on NYSE.
Company Profile
Key Dates
Elevance Health is a Health Insurance) company in the Healthcare sector.
2 ELV Options Market Overview
ELV options provide trading opportunities for options traders.
Liquidity Assessment: Very Good
ELV options provide trading opportunities across multiple expirations.
3 ELV Implied Volatility & IV Rank
ELV implied volatility patterns reflect the health insurance sector dynamics.
Earnings Impact
IV typically expands before earnings and contracts after the announcement.
The post-earnings volatility drop is known as IV crush. Holders of short ELV options should also understand early assignment risk around dividends and expiration.
Historical Volatility vs IV
ELV IV generally trades near historical volatility, with premiums expanding around earnings.
Term Structure
Typically upward sloping under normal conditions.
ELV Gamma Exposure (GEX)
Gamma Exposure analysis for ELV reveals dealer hedging dynamics at key strike levels.
Typical GEX Profile: ELV tends to operate in a positive gamma environment during normal conditions.
Key Levels:
Dealer Hedging:
4 Common ELV Options Strategies
These are strategies commonly used by traders on ELV options, based on typical market characteristics. This is not investment advice.
Popular for ELV shareholders seeking additional income.
Defined-risk directional exposure on ELV.
Range-bound strategy for ELV between events.
Key Considerations for ELV Options
- Monitor ELV earnings dates for IV expansion/contraction patterns
- Consider the stock's beta when sizing options positions
- ELV options liquidity varies by expiration - prefer near-term and monthly expirations
Frequently Asked Questions: ELV Options
What is ELV's typical implied volatility?
ELV implied volatility typically ranges from 18% - 40%. IV patterns are influenced by earnings, sector events, and market conditions.
Does ELV have weekly options?
Yes, ELV offers weekly options expirations.
What is ELV's options trading profile?
ELV (Elevance Health) options trade with very good liquidity, averaging N/A in daily volume, typical bid-ask spreads of N/A. Implied volatility typically falls in the 18% - 40% range. The position sits in the Healthcare category for portfolio diversification and options strategy design.
How does ELV implied volatility behave around earnings?
IV typically expands before earnings and contracts after the announcement. Next scheduled earnings: See earnings calendar. Traders often size short premium positions for the post-earnings IV crush, while long premium buyers should be aware that the IV decline can outweigh small directional moves.
What options strategies work well on ELV?
Popular strategies on ELV options include Covered Calls, Vertical Spreads, Iron Condors. Strategy selection depends on the current IV environment versus the 18% - 40% typical range, days to next earnings, and the trader's directional outlook. Higher IV regimes favour premium-selling strategies; lower IV regimes favour directional debit spreads or long premium plays.
What is ELV's gamma exposure (GEX)?
Gamma exposure (GEX) measures how options dealers' hedging of their net gamma position can influence ELV's intraday price action. ELV tends to operate in a positive gamma environment during normal conditions. Positive GEX tends to dampen volatility and create mean-reverting moves, while negative GEX can amplify swings. View live ELV GEX levels and the gamma-flip point on ApexVol.
What is ELV's IV rank?
ELV's IV rank shows where ELV'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. ELV implied volatility typically ranges from 18% - 40%. Check ELV's live IV rank and percentile on ApexVol's IV analytics.
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