Extreme realized volatility tends to mean revert. Find high vol contraction and low vol expansion setups.
RV Rank Screener (IV Proxy)
Find stocks with extreme realized volatility. High RV tends to contract (sell premium), Low RV tends to expand (buy premium).
RV 20d: 20-day realized volatility (annualized).
RV Rank: Percentile of current RV vs last 252 days. 90+ = very high, 10- = very low.
High Vol Strategy: Sell puts, iron condors, credit spreads. Vol likely to contract.
Low Vol Strategy: Buy straddles, strangles. Vol likely to expand.