ESTA Volatility Surface

SVI-calibrated implied volatility surface for ESTA. Interactive heatmap of IV across strikes and expirations. Data from the public FlashAlpha Lab API.

Delayed

ATM IV

60.0%

Spot Price

$70.52

ESTA implied volatility by strike and horizon

As of Nov 10, 4:00 PM ET

Strike as a percent of spot, interpolated between 5 listed expiries. A dash means no quoted option covers that point.

Horizon	80%	90%	95%	100%	105%	110%	120%
7 days	-	-	-	-	-	-	-
30 days	124.6%	149.9%	166.0%	99.9%	90.5%	98.2%	-
60 days	107.6%	122.6%	131.4%	46.1%	29.9%	39.2%	43.9%
90 days	102.5%	115.0%	122.1%	51.0%	30.0%	37.7%	42.2%
180 days	87.3%	92.2%	94.2%	65.5%	30.4%	33.4%	37.0%
1 year	74.7%	77.5%	78.2%	59.4%	30.7%	32.5%	33.1%

Across these 34 points, ESTA implied volatility runs from 29.9% (60 days, 105% strike) to 166.0% (30 days, 95% strike), built from 5 listed expiries.

IV Heatmap

Strike	Mar 14	Mar 21	Mar 28	Apr 17	May 16
-	-	-	-	-	-
-	-	-	-	-	-
-	-	-	-	-	-
-	-	-	-	-	-
-	-	-	-	-	-
-	-	-	-	-	-

What is a Volatility Surface?

A volatility surface maps implied volatility as a function of both strike price and time to expiration. It captures the full landscape of how the market prices risk across different scenarios and time horizons.

SVI Calibration: FlashAlpha uses Stochastic Volatility Inspired (SVI) parameterization to fit a smooth, arbitrage-free surface to raw market quotes. This eliminates noise while preserving the true shape of the smile.

Reading the Heatmap

Cool colors (blue): Low IV - options are relatively cheap. Potential for long vol positions.
Warm colors (red/orange): High IV - options are expensive. Consider selling premium or look for relative value.
Spot row: Highlighted row shows IV at the current stock price. Compare across expirations to see term structure.
Wings: IV rising sharply at far OTM strikes indicates tail risk pricing or squeeze potential.