CENOVUS ENERGY INC. (CVE) Implied Volatility
CENOVUS ENERGY INC. (CVE) options trade at a 30-day at-the-money implied volatility of 38.5%, an IV rank of 37 out of 100 over the past year. This page breaks down CVE's implied volatility in plain English: where it sits versus its own history, how it compares with realized movement, and what the term structure and skew are saying.
Data as of Aug 24, 2026, 3:55 PM ET · OPRA data 15 minutes delayed · For information only — not investment advice.
Implied Volatility & Expected Move
CVE 30-day at-the-money implied volatility, past year.
| ATM IV — front expiration | 38.5% |
| ATM IV — 2 month | 42.6% |
| IV rank (1 year) | 37 / 100 |
| IV percentile (1 year) | 36% |
| Expected move (front expiration) | ±$3.24 (±10.1%) |
| Historical volatility — 10 day | 23.4% |
| Historical volatility — 21 day | 40.5% |
| Historical volatility — 30 day | 37.3% |
| Historical volatility — 60 day | 39.4% |
| IV / HV ratio | 1.03 |
| Term slope (front − 3M) | -4.1 pts |
An IV rank of 37 places current implied volatility in the lower part of its 52-week range. An IV/HV ratio of 1.03 means implied volatility is roughly in line with recent realized volatility. The term structure is in contango — front-month IV sits below 3-month IV, the typical shape in calm markets.
CVE IV Rank History
CVE IV rank (0–100), past year.
IV rank has fallen from 51 in Feb '26 to 37 today. An IV percentile of 36% means implied volatility was lower than today on 36% of trading days in the past year.
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CVE Options FAQ
What is the implied volatility of CVE options?
CVE options trade at a 30-day at-the-money implied volatility of 38.5% as of Aug 24, 2026. That is an IV rank of 37 out of 100, meaning implied volatility is subdued relative to its own 52-week range.
Is CVE implied volatility high or low right now?
By its own 52-week standards, CVE implied volatility is currently low: IV rank is 37 out of 100 as of Aug 24, 2026. Compared with realized movement, the IV/HV ratio of 1.03 shows options pricing more movement than the stock has recently delivered.
What move do CVE options imply before the next expiration?
Front-expiration CVE options imply a one-standard-deviation move of ±$3.24 (±10.1%) as of Aug 24, 2026, derived from at-the-money option prices.
What is the difference between CVE's IV rank and IV percentile?
IV rank (currently 37) measures where today's implied volatility sits between its 52-week low and high. IV percentile (currently 36%) counts the share of trading days in the past year with lower implied volatility than today. Percentile is less distorted by one-off volatility spikes.
Methodology. IV rank compares the current 30-day at-the-money implied volatility with its highest and lowest values over the past 52 weeks. Max pain is the strike that minimizes the total payout to option holders at expiration. The call and put walls are the strikes carrying the largest call and put open interest across all expirations. Net gamma exposure (GEX) is measured from the dealer perspective. All statistics are derived from delayed OPRA options data.
Options trading involves significant risk, and losses can exceed your initial investment. Always consult a licensed financial professional before making investment decisions. OptiView does not provide financial advice; all figures on this page are descriptive statistics, not recommendations.