IVR is a normalized value that compares the current IV of an asset to its historical IV over a certain period of time (usually one year). It is derived from the prices of options on that asset.
Implied volatility (IV) is a measure of how much the market expects the price of an asset to move in the future.
The tastytrade IV Rank is a custom indicator that shows you the implied volatility rank (IVR) of an underlying asset.
