IV Rank provides insight as to how far the current IV for a given term is between its 1-year low and high.
Consider an example 1-year history where the 10d IV has had a low of 20 and a high of 50. The following represent IV Ranks for hypothetical “current” 10d IVs:
|10d IV||Distance From 20 (Relative To 50)||10d IV Rank|
See also: IV Percentile