Options Skew Analytics

AA option chain

Strikes around the forward, as they were quoted at the close

Data as of 9 November 2026 (end of day)

2026-11-13(4 days)ATM 55.12%±2.42skew +4.83
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
17$3.90$5.50—$37.0061.82%$0.02$0.0366439
33$4.00$4.70—$37.5059.59%$0.01$0.0615027
98$3.60$4.35—$38.0057.57%$0.04$0.0627753
613$3.25$3.75—$38.5056.20%$0.05$0.1020020
335$2.53$3.35—$39.00—————
9125$2.43$3.10—$39.5058.29%$0.16$0.2612557
52266$2.06$2.58—$40.0055.22%$0.22$0.3223568
84121$1.82$1.95—$40.5056.12%$0.31$0.504654
386418$1.46$1.61—$41.0054.27%$0.48$0.5913383
130280$1.14$1.28—$41.5059.76%$0.66$0.99880
427914$0.87$1.0355.21%$42.00—$0.89$1.086372
237674$0.65$0.7854.39%$42.50—$1.16$1.4123
508285$0.47$0.5653.21%$43.00—$1.49$1.66214
37028$0.31$0.3851.29%$43.50—$1.84$2.0069
270183$0.21$0.2851.76%$44.00—$2.13$2.50259
760$0.13$0.1951.14%$44.50—$2.48$2.9124
1,329142$0.09$0.1251.16%$45.00—$2.68$3.4522
9153$0.05$0.0850.82%$45.50—————
12987$0.03$0.0651.96%$46.00—$3.75$5.2010
—————$46.50—$4.20$5.6006
—————$47.00—$4.60$5.9007

Forward $41.96. The 25-delta put carries +4.83 volatility points over the 25-delta call.

2026-11-20(11 days)ATM 50.19%±3.66skew +1.62
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
385$4.70$5.35—$37.00—————
1—$4.20$4.95—$37.50—————
11279$3.90$4.50—$38.0051.60%$0.20$0.2819245
7349$3.50$4.25—$38.5051.59%$0.26$0.381759
26424$3.15$3.60—$39.0051.39%$0.33$0.5024579
2446$2.66$3.25—$39.5051.62%$0.45$0.6318394
23611,118$2.56$2.78—$40.0049.23%$0.55$0.701,28897
47691$2.18$2.55—$40.5051.01%$0.71$0.9621472
632506$1.90$2.13—$41.0050.37%$0.88$1.147120
5166$1.61$1.84—$41.5050.06%$1.08$1.36404
352330$1.36$1.5250.02%$42.00—$1.32$1.611276
82269$1.12$1.3650.93%$42.50—$1.60$1.8233
211689$0.99$1.0850.76%$43.00—$1.89$2.0741
119355$0.75$0.9750.77%$43.50—$2.20$2.38120
75281$0.60$0.7048.49%$44.00—$2.57$2.74101
7155$0.44$0.6850.00%$44.50—$2.87$3.2031
1,2279,554$0.37$0.4949.02%$45.00—$3.15$3.8028712
—————$45.50—$3.50$4.45122
131228$0.23$0.2948.52%$46.00—$3.90$4.9571
280$0.17$0.2749.74%$46.50—————
—————$47.00—$4.75$6.4012

Forward $41.97. The 25-delta put carries +1.62 volatility points over the 25-delta call.

2026-11-27(18 days)ATM 47.51%±4.43skew -0.20
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
01$5.15$8.30—$35.0048.89%$0.06$0.108815
0—$4.70$7.15—$35.50—————
—————$36.0049.04%$0.13$0.17688
0—$3.75$6.25—$36.50—————
—————$38.0047.44%$0.33$0.4410614
23$3.25$4.00—$39.0046.36%$0.51$0.644022
—————$39.5047.48%$0.62$0.87—0
640$2.81$3.10—$40.0047.18%$0.77$1.02344
—————$40.5046.43%$0.91$1.19—0
2363$2.17$2.46—$41.0045.95%$1.12$1.351782
39—$1.88$2.16—$41.5043.50%$1.17$1.57—4
2571$1.62$1.8546.81%$42.00—$1.57$1.91166
9—$1.44$1.6647.96%$42.50—$1.84$2.07—3
43144$1.22$1.4848.13%$43.00—$2.12$2.35250
14—$1.04$1.3348.69%$43.50—$2.46$2.68—0
18204$0.87$1.0146.40%$44.00—$2.75$2.99150
—————$44.50—$3.15$3.40—0
121107$0.62$0.8047.68%$45.00—$3.20$3.75310
14328$0.41$0.6348.39%$46.00—$3.80$5.75180
147$0.28$0.4548.53%$47.00—————
—————$48.00—$5.85$7.5520

Forward $41.99. The 25-delta put carries -0.20 volatility points over the 25-delta call.

2026-12-04(25 days)ATM 47.93%±5.27skew -0.04
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
050$6.95$8.80—$34.00—————
—————$35.0048.99%$0.13$0.21350
—————$38.0047.78%$0.53$0.66190
369$3.75$4.10—$39.0047.30%$0.77$0.9171
651$3.15$3.45—$40.0047.42%$1.06$1.29238
327$2.52$2.82—$41.0047.62%$1.42$1.7621
4316$2.01$2.21—$42.0048.10%$1.92$2.2770
7124$1.57$1.7047.24%$43.00—————
1048$1.15$1.3146.28%$44.00—$3.10$3.3520
16153$0.91$1.0247.08%$45.00—$3.75$4.00180
841$0.63$0.8447.34%$46.00—$4.05$5.90100
2170$0.37$0.5844.98%$47.00—————
97$0.31$0.4145.80%$48.00—————
—————$49.00—$6.90$7.5511
—————$50.00—$7.60$9.8004
—————$53.00—$9.15$13.0001

Forward $42.02. The 25-delta put carries -0.04 volatility points over the 25-delta call.

2026-12-11(32 days)ATM 47.21%±5.89skew +3.84
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
—————$37.0046.29%$0.43$0.55259
—————$38.0048.80%$0.65$0.94730
01$3.30$3.70—$40.0046.05%$1.21$1.4113
16$2.79$3.05—$41.0047.12%$1.60$1.9441
1320$2.24$2.59—$42.0047.11%$2.06$2.441815
416$1.81$2.1447.27%$43.00—$2.61$2.9420
384$1.42$1.5945.48%$44.00—$3.20$3.6010
3439$1.00$1.4346.13%$45.00—$3.85$4.1001,200
46$0.78$0.9544.10%$46.00—————
2246$0.63$0.7544.96%$47.00—————
21$0.26$0.3345.22%$50.00—————
—————$52.00—$9.70$10.8501

Forward $42.17. The 25-delta put carries +3.84 volatility points over the 25-delta call.

2026-12-18(39 days)ATM 46.69%±6.43skew +1.86
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
019$27.60$31.35—$12.50—————
010$25.10$28.90—$15.00—————
019$22.60$26.40—$17.50—————
092$20.10$23.90—$20.00—————
015$18.15$21.25—$22.50—————
047$15.20$17.80—$25.00—————
04$12.65$14.60—$28.0057.83%$0.03$0.041484
1408$11.70$12.60—$30.0051.83%$0.04$0.062,400164
112$8.65$9.75—$33.0049.42%$0.15$0.1941321
32379$7.10$7.75—$35.0048.10%$0.33$0.375,540169
18173$5.00$5.20—$38.0047.76%$0.89$1.001,716196
511,055$3.65$3.90—$40.0046.99%$1.50$1.662,038164
395955$2.56$2.69—$42.0046.81%$2.41$2.561,577149
1514,385$1.39$1.4646.10%$45.00—$4.10$4.354,00948
2972,397$0.84$0.9745.90%$47.00—$5.65$6.553570
5543,136$0.39$0.4545.45%$50.00—$8.00$8.6563317
—————$55.00—$12.75$14.1581213
—————$60.00—$17.60$19.0030
—————$65.00—$21.20$25.05580
—————$70.00—$26.60$30.0510
—————$75.00—$31.90$35.0010

Forward $42.14. The 25-delta put carries +1.86 volatility points over the 25-delta call.

2027-01-15(67 days)ATM 46.02%±8.34skew +2.98
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
0230$28.30$31.25—$12.50—————
022$25.15$29.10—$15.00—————
0538$23.35$26.05—$17.50—————
01,363$20.20$23.30—$20.00—————
043$17.75$20.65—$22.50—————
0427$15.90$18.15—$25.0056.31%$0.03$0.052,56021
013$13.15$14.70—$28.00—————
20716$12.05$12.70—$30.0050.38%$0.16$0.205,9314
091$8.25$10.00—$33.0049.77%$0.40$0.552,08229
1536$7.60$8.25—$35.0048.34%$0.69$0.853,71792
1355$5.65$6.00—$38.0047.31%$1.46$1.5887616
1042,695$4.45$4.65—$40.0047.25%$2.13$2.424,166230
213353$3.35$3.60—$42.0046.55%$3.05$3.302,533201
3482,531$2.09$2.2545.18%$45.00—$4.80$5.003,392166
44761$1.50$1.5944.69%$47.00—$6.05$6.456810
1052,537$0.86$0.9444.33%$50.00—$8.45$8.758362
441,373$0.35$0.4746.30%$55.00—$12.85$13.401,1880
352,873$0.13$0.2046.84%$60.00—$17.05$19.65330
—————$65.00—$21.70$24.25550
11,020$0.02$0.0858.02%$75.00—$31.25$35.00100

Forward $42.30. The 25-delta put carries +2.98 volatility points over the 25-delta call.

2027-03-19(130 days)ATM 48.67%±12.33skew +0.37
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
50138$17.25$17.90—$25.0052.97%$0.17$0.224230
1015$11.85$13.40—$30.0048.58%$0.50$0.645619
5116$8.95$9.40—$35.0048.66%$1.59$1.733,46892
50493$6.05$6.20—$40.0048.39%$3.50$3.601,62532
121816$3.75$3.9048.68%$45.00—$6.20$6.451,21681
121,488$2.05$2.4647.63%$50.00—$9.40$9.906280
281,773$1.30$1.4548.29%$55.00—$13.15$14.701,20212
0568$0.80$0.9049.17%$60.00—$18.00$19.001,6240
203343$0.50$0.5950.35%$65.00—————
11,249$0.24$0.3950.20%$70.00—————

Forward $42.46. The 25-delta put carries +0.37 volatility points over the 25-delta call.

How to read this

Calls on the left, puts on the right, the strike between them — the layout every chain uses. Each block is one expiration, and the heading carries its days to expiry, the at-the-money implied volatility, and the one-standard-deviation move that volatility implies over that time.

Only the 21 strikes nearest the forward are stored, which is the part of the board that carries the volume. The shaded side is in the money: below the forward for calls, above it for puts.

Implied volatility is shown on the out-of-the-money side only. An in-the-money option is nearly all intrinsic value quoted on a wide market, so a volatility solved from it would look authoritative and mean very little. The price is still shown, because the price is real; the blank is deliberate.