PGR Gamma Exposure, IV Rank & Implied Volatility
Progressive Corporation (PGR) options data — GEX, IV rank, options chain & Greeks
PGR options trade with implied volatility typically in the 16% - 38% range, averaging N/A in daily volume with good liquidity. Next earnings: See earnings calendar. Weekly options and LEAPS are available.
An IV rank near 23.5 (the value shown here is illustrative) would mean implied volatility is in roughly the 23.5th percentile of its 1-year range — low IV, premium-buying regime for long calls/puts and debit spreads. For today's live PGR IV rank from ORATS, open the dashboard.
Chart shows simulated data for display purposes. View the real PGR IV history on the live platform →
Comprehensive options market data for Progressive Corporation (PGR).
PGR Options at a Glance
What's Covered in This Guide
1 About Progressive Corporation (PGR)
Progressive is one of the largest auto insurance providers in the U.S., known for its direct-to-consumer model and innovative pricing tools. The company also offers home and commercial insurance.
Company Profile
Key Dates
Progressive Corporation operates in the Financial Services sector.
2 PGR Options Market Overview
PGR options provide good liquidity for options traders.
Liquidity Assessment: Good
PGR options are available for trading across multiple expirations.
3 PGR Implied Volatility & IV Rank
PGR implied volatility reflects interest rate sensitivity and credit cycle dynamics. IV spikes during financial stress events and Fed policy shifts.
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 PGR options should also understand early assignment risk around dividends and expiration.
Historical Volatility vs IV
PGR IV generally trades near historical volatility, with premiums expanding around earnings.
Term Structure
Typically upward sloping under normal conditions.
PGR Gamma Exposure (GEX)
Gamma Exposure analysis for PGR reveals dealer hedging dynamics at key strike levels.
Typical GEX Profile: PGR tends to operate in a positive gamma environment during normal conditions.
Key Levels:
Dealer Hedging:
4 Common PGR Options Strategies
These are strategies commonly used by traders on PGR options, based on typical market characteristics. This is not investment advice.
Popular for PGR shareholders seeking additional income.
Defined-risk directional exposure on PGR.
Range-bound strategy for PGR between events.
Key Considerations for PGR Options
- PGR options liquidity varies by expiration - prefer near-term and monthly expirations for tighter spreads
- Monitor earnings dates for IV expansion/contraction patterns
- Consider the stock's beta when sizing positions
Frequently Asked Questions: PGR Options
What is PGR's typical implied volatility?
PGR implied volatility typically ranges from 16% - 38%.
Does PGR have weekly options?
PGR offers weekly options.
What is PGR's options trading profile?
PGR (Progressive Corporation) options trade with good liquidity, averaging N/A in daily volume, typical bid-ask spreads of N/A. Implied volatility typically falls in the 16% - 38% range. The position sits in the Financial Services category for portfolio diversification and options strategy design.
How does PGR 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 PGR?
Popular strategies on PGR options include Covered Calls, Vertical Spreads, Iron Condors. Strategy selection depends on the current IV environment versus the 16% - 38% 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 PGR's gamma exposure (GEX)?
Gamma exposure (GEX) measures how options dealers' hedging of their net gamma position can influence PGR's intraday price action. PGR 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 PGR GEX levels and the gamma-flip point on ApexVol.
What is PGR's IV rank?
PGR's IV rank shows where PGR'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. PGR implied volatility typically ranges from 16% - 38%. Check PGR's live IV rank and percentile on ApexVol's IV analytics.
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