Criteria are used in the Brutus Options Ranker with an objective specific to your strategy's goal.  The objective can be to minimize, maximize, or target the criterion to a specific value.  The criterion's measure can also be used to filter trades out of your results.  This knowledge-base article gives you a preview of the IV Percentile calculation details, but the full details can only be viewed inside the app.

This knowledge-base article is only a preview of the IV Percentile criterion calculation.  View more in the Brutus Options Ranker App.  No registration required.