Options implied move calculator.
Translate annualized implied volatility into a one-standard-deviation magnitude estimate for a chosen number of calendar days. The result is not a directional forecast.
Expected move ≈ price × annualized IV × √(calendar days ÷ 365). All inputs stay in your browser; Worthward does not fetch or save a quote from this public tool.
Calculate the range
The formula and a worked example
With a $100 underlying, 30% annualized IV, and 30 calendar days, the approximation produces an $8.60 move, or an implied range of $91.40–$108.60.
This is a volatility estimate under a simplified distributional model. It describes magnitude, not direction; implied volatility can change, returns can have fat tails, and the result is not a guaranteed probability band.
What the output does—and does not—say
- It does: put annualized IV on the same time horizon as the selected expiration.
- It does: expose every assumption and preserve the observation’s date outside the calculation.
- It does not: infer bullish or bearish flow from a static option chain.
- It does not: model skew, event-specific variance, rates, dividends, jumps, or bid/ask execution.
- It does not: turn the range into a strategy recommendation.
Calendar-day versus trading-day conventions
This calculator uses 365 calendar days because option expiry is a calendar date. A common daily shortcut divides annualized IV by √252 (approximately 16) using trading days. Both conventions can be useful, but their inputs and time bases should not be mixed silently.
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