IV Rank(IVR)
IV Rank shows where current implied volatility sits between its highest and lowest values over the past year, scaled 0 to 100.
IVR = (current IV − 52-week low IV) / (52-week high IV − 52-week low IV) × 100What IV Rank Means
IV Rank (IVR) places today's implied volatility on a 0-to-100 scale defined by its own 52-week high and low. If IV ranged between 10% and 30% over the past year and sits at 20% today, IVR is 50 — exactly in the middle of its range. An IVR of 100 means IV is at a one-year high; an IVR of 0 means it is at a one-year low.
It is a quick, intuitive gauge of whether options are relatively expensive or cheap compared with the recent past.
IV Rank vs IV Percentile
IV Rank only cares about the extremes — the highest and lowest IV of the year. That makes it sensitive to one-off spikes: a single panic day can set a high that drags every later IVR reading down. IV Percentile counts how many days were actually below today, so it better reflects the typical distribution. Many traders watch both: a high reading on both is a strong premium-selling signal.
IV Rank in the Indian Market
Because India VIX spikes hard around the Budget, RBI policy and elections, IVR can stay artificially compressed for months after a single big event set the yearly high. That is why pairing IVR with IVP gives a cleaner read on Nifty premium. Quintal Mind shows live IVR and IVP side by side so you can avoid being misled by one extreme print.
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