Ashish Gupta Profile picture
Full time trader | Options/Volatility Trader | Blogger | Long Distance Runner
3 subscribers
Oct 9, 2025 10 tweets 3 min read
Implied Volatility (IV) Smile is one of the most underused yet powerful tools for options traders.

Reading the smile well gives you early clues on positioning, expected moves & smart structures.

Let’s break it down with the NIFTY curve below 👇🧵 Image The IV smile plots implied vol for different strikes around the current underlying value.

X-axis = Strike distance from spot (-10% to +10%) – in this case 24k to 26k for Nifty
Y-axis = IVs (%) of each strike
Each curve = a different expiry

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