Option IV Term Structure Slope Calculator
Compare implied volatility at two tenors to get the gap and the term slope per additional 30 days.
Results
Fill in the inputs and click Calculate.
- IV Gap (Pts)
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- Slope per 30d
- –
- Far / Near Ratio
- –
Risk disclaimer
IV moves in real time and term-structure shapes can shift quickly with events.
What does the term structure show?
IV varies with time to expiry: near months below far months (upward slope) is typical; inversion often reflects near-term events and sentiment.
Slope = IV gap ÷ day gap × 30, the change per extra month.
How to use
- Enter the near tenor's IV and its days.
- Enter the far tenor's IV and its days.
- Click Calculate for the gap, the per-30-day slope and the far/near ratio.
Formula
- IV gap = far IV − near IV
- Slope/30d = IV gap ÷ (far days − near days) × 30
- Ratio = far IV ÷ near IV
Example
30d IV 45% and 120d IV 55% → gap 10 pts, slope ≈ 3.33 per 30d, ratio 1.22.
Higher slopes mean the market prices more uncertainty further out.
FAQ
Can I swap the tenor order?
Yes — the gap and slope follow your input order, so signs flip accordingly.
Is this analysis advice?
No. It is the math between two IV tenors; interpretation is yours.