For volatility traders, the “event” isn’t the earnings news itself—it’s the collapse in option premiums that follows. While every stock experiences some level of IV Crush, certain names are notorious for their mechanical consistency. By identifying these “IV Crush Kings,” traders can build high-probability premium-selling strategies.
Here are the 5 stocks with the most consistent post-earnings volatility collapse.
1. NVIDIA (NVDA)
As the epicenter of the AI trade, NVDA options see massive demand leading up to earnings. This drives the “Expected Move” to extreme levels. Historically, NVDA often realizes a smaller move than the options market prices in, leading to a violent IV crush in the first 30 minutes of trading post-news.
2. Tesla (TSLA)
Tesla is a retail favorite, and retail traders love buying “lotto ticket” calls before earnings. This speculative demand inflates extrinsic value. Once the news is out, that speculative air is let out of the balloon instantly, making TSLA one of the best candidates for post-earnings iron condors.
3. Netflix (NFLX)
NFLX has a long history of “gapping” on earnings, but the subsequent IV crush is often so deep that even a 10% move can result in flat or declining value for long OTM options. Traders using SpotGamma Equity Hub can track NFLX’s IV Percentile to see if the volatility is truly overpriced compared to historical gaps.
4. Apple (AAPL)
Unlike the high-beta names, Apple is often used as a “safe haven.” However, the sheer volume of its options chain means that the post-earnings “vega decay” is incredibly efficient. Market makers are quick to reset AAPL’s IV back to its baseline, rewarding those who sold the pre-earnings volatility peak.
5. Amazon (AMZN)
Amazon frequently sees its IV skyrocket in the 48 hours leading up to an announcement. Because Amazon has a large “market weight,” dealers are aggressive in pricing in tail risk. When that risk fails to materialize, the premium collapse is rapid and predictable.
The IV Crush Trading Checklist
- Check IV Percentile: Is volatility at the top of its 52-week range?
- Verify the Expected Move: Compare the straddle price to historical realized moves in Equity Hub.
- Time the Exit: Look to capture the bulk of your profit in the first hour of trading after the news.
Want to see the Implied Move for this week’s earnings? Join SpotGamma and get the institutional data you need to trade IV crush.