What does the OptiView volatility surface show?
The OptiView volatility surface* maps implied volatility across all available strikes and expiration dates for a selected underlying asset. OptiView uses this surface to price option strategies and, with a Plus subscription, users can switch from constant implied volatility to a local volatility model for more accurate P&L projection.
What the volatility surface shows
- Maps implied volatility across all available strikes and expiration dates for the selected underlying
- Visualizes the volatility smile — the variation in IV across strikes at a given expiration
- Visualizes the term structure — the variation in IV across expiration dates at a given strike
- Displays IV histogram data showing the distribution of current implied volatility levels
- Highlights the current IV level relative to the historical distribution for the underlying
Constant IV vs. local volatility model
- By default, OptiView uses a constant implied volatility assumption to price option strategies
- With a Plus subscription, users can switch to a local volatility model in the Volatility panel
- The local volatility model uses the full volatility surface to price each leg, producing more accurate P&L projections across different strike and expiration combinations
- Switching to the local volatility model is most useful when comparing strategies across multiple strikes or expirations
How to access the volatility surface
- Open the multi-function panel at the bottom of the OptiView options chart
- Select the Volatility tab to view the IV surface for the selected underlying
- Hover over the surface to view implied volatility at a specific strike and expiration combination