Options Skew Analytics

AAP option chain

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

Data as of 25 September 2026 (end of day)

2026-10-02(7 days)ATM 43.40%±2.51skew +1.13
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
100$3.10$4.10—$38.50—————
12$2.80$3.60—$39.00—————
—————$39.5044.10%$0.20$0.301513
122$1.80$2.55—$40.0043.45%$0.30$0.409828
173$1.60$1.95—$40.5043.82%$0.40$0.602013
013$1.30$1.60—$41.0042.46%$0.55$0.7513449
1144$1.00$1.20—$41.50—————
2975$0.75$1.0043.56%$42.00—$1.00$1.307684
281,071$0.55$0.8043.70%$42.50—$1.10$1.706428
2657$0.40$0.6043.29%$43.00—$1.35$2.003013
1890$0.30$0.4042.33%$43.50—$1.80$2.4042
—————$44.00—$2.20$2.9088
—————$44.50—$2.30$3.4010
—————$45.00—$2.80$3.90130
—————$46.00—$3.70$4.7020
—————$47.00—$4.90$5.50710
—————$47.50—$5.00$6.7030
—————$48.00—$5.40$7.1010
—————$48.50—$5.90$7.7010
—————$50.00—$7.40$9.1010
—————$52.00—$9.40$11.1060

Forward $41.72. The 25-delta put carries +1.13 volatility points over the 25-delta call.

2026-10-16(21 days)ATM 45.27%±4.51skew -1.17
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
—————$36.0046.52%$0.15$0.253000
—————$37.0048.39%$0.30$0.4512
02$4.00$5.30—$37.5046.65%$0.35$0.501,2441
—————$38.0046.48%$0.45$0.60110
—————$39.0044.53%$0.65$0.8010
068$2.55$3.00—$40.0046.32%$1.05$1.201,27115
19$2.25$2.55—$40.50—————
13$1.90$2.25—$41.0045.61%$1.40$1.651150
1415$1.75$2.00—$41.50—————
018$1.45$1.7545.26%$42.00—$1.90$2.15250
12440$1.30$1.5045.49%$42.50—$2.15$2.454826
04$1.10$1.3045.20%$43.00—————
06$0.90$1.1545.02%$43.50—$2.75$3.2030
1014$0.80$1.0045.71%$44.00—————
1424$0.70$0.8045.20%$44.50—————
441,559$0.55$0.7545.70%$45.00—$3.60$4.20490
07$0.50$0.6546.60%$45.50—————
1030$0.40$0.5546.25%$46.00—————
09$0.30$0.4545.33%$46.50—————
433$0.30$0.4047.05%$47.00—————
—————$47.50—$5.50$6.80160

Forward $41.57. The 25-delta put carries -1.17 volatility points over the 25-delta call.

2026-11-20(56 days)ATM 56.94%±9.33skew +2.58
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
—————$30.0061.63%$0.25$0.40318
—————$32.5059.45%$0.50$0.70110
—————$35.0058.93%$1.00$1.207381
—————$37.5059.17%$1.80$1.95676
167$4.40$4.80—$40.0059.09%$2.80$3.004511
037$3.30$3.5056.86%$42.50—$3.80$4.30480
1100$2.35$2.7057.89%$45.00—$5.60$5.90262
020$1.65$1.8556.97%$47.50—$7.00$8.0080
2416$1.15$1.2556.59%$50.00—$8.90$9.8020
232$0.50$0.7057.97%$55.00—$13.10$14.5010
1340$0.25$0.4060.37%$60.00—————

Forward $41.85. The 25-delta put carries +2.58 volatility points over the 25-delta call.

2026-12-18(84 days)ATM 52.74%±10.61skew +0.17
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
045$16.10$17.60—$25.00—————
05$11.60$13.10—$30.00—————
022$9.50$10.90—$32.5055.55%$0.75$1.001665
04$7.70$9.00—$35.0053.98%$1.25$1.551490
012$6.10$7.20—$37.5053.28%$2.00$2.357450
155$5.00$5.40—$40.0053.49%$3.00$3.504100
1124$3.80$4.1052.86%$42.50—$4.20$4.802420
0851$2.85$3.1052.59%$45.00—$5.70$6.301100
0121$2.15$2.4053.31%$47.50—$7.40$8.00260
3784$1.55$1.8053.14%$50.00—$9.30$10.10900
547$1.15$1.3053.11%$52.50—$11.30$12.20240
2164$0.85$1.0053.81%$55.00—$13.50$14.30150
263$0.60$0.8054.50%$57.50—$15.60$17.00510
—————$60.00—$18.00$19.2030
—————$62.50—$20.40$21.8010
—————$65.00—$22.70$24.10470
—————$67.50—$25.30$26.6010
—————$70.00—$26.50$30.1010

Forward $41.94. The 25-delta put carries +0.17 volatility points over the 25-delta call.

2027-01-15(112 days)ATM 52.35%±12.15skew +0.45
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
070$23.80$24.50—$17.50—————
069$20.50$23.80—$20.00—————
042$18.00$21.30—$22.50—————
0103$16.60$17.70—$25.00—————
044$14.10$15.60—$27.5055.47%$0.30$0.503730
0229$12.00$13.30—$30.0053.62%$0.55$0.808290
0122$9.90$11.30—$32.5053.22%$1.05$1.259830
0276$8.10$9.40—$35.0051.92%$1.60$1.906501
0405$6.80$7.60—$37.5053.33%$2.70$2.8068610
0170$5.40$5.80—$40.0052.53%$3.70$3.904920
0432$4.40$4.7052.82%$42.50—$5.10$5.201660
6431$3.40$3.6051.71%$45.00—$6.10$6.801,1475
16314$2.65$2.7551.39%$47.50—$7.90$8.50550
24685$2.05$2.1551.60%$50.00—$9.70$10.301641
478$1.55$1.6551.47%$52.50—$11.70$12.40240
2737$1.15$1.3551.96%$55.00—$13.50$14.901660
0193$0.80$1.0051.09%$57.50—$15.80$17.201380
0938$0.55$0.8551.59%$60.00—$18.10$19.402560
—————$62.50—$20.40$21.80560
4394$0.35$0.5052.49%$65.00—$22.90$24.20210
—————$67.50—$25.30$26.70490

Forward $41.89. The 25-delta put carries +0.45 volatility points over the 25-delta call.

2027-03-19(175 days)ATM 52.63%±15.41skew +3.65
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
—————$22.5059.15%$0.25$0.40640
—————$25.0056.23%$0.40$0.602490
—————$27.5056.30%$0.75$1.001280
013$12.70$14.00—$30.0055.94%$1.25$1.501120
09$10.90$12.30—$32.5055.21%$1.90$2.10190
04$9.40$10.50—$35.0055.27%$2.75$2.951380
011$7.90$9.00—$37.5054.58%$3.70$3.902610
213$7.00$7.30—$40.0054.28%$4.80$5.105740
4057$5.80$6.3053.91%$42.50—$6.10$6.403430
050$4.80$5.1052.66%$45.00—$7.50$8.00170
010$4.00$4.2052.40%$47.50—$8.90$9.60470
264$3.30$3.5052.35%$50.00—$10.70$11.40460
033$2.50$2.9051.25%$52.50—$12.40$13.60160
0194$2.10$2.3551.33%$55.00—$14.30$15.6060
09$1.75$1.9551.62%$57.50—$16.40$17.60130
097$1.40$1.6551.73%$60.00—$18.60$20.005010
061$1.15$1.3551.74%$62.50—$20.90$22.2030
1523$1.00$1.1552.50%$65.00—————
09$0.75$1.0552.78%$67.50—————
019$0.60$0.9052.96%$70.00—$27.80$29.2050
1152$0.45$0.6553.89%$75.00—————

Forward $42.30. The 25-delta put carries +3.65 volatility points over the 25-delta call.

2027-06-17(265 days)ATM 53.41%±19.34skew +2.23
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
—————$22.5058.49%$0.55$0.85780
01$17.30$18.80—$25.0057.04%$0.90$1.20180
—————$27.5056.35%$1.40$1.709550
09$13.60$15.10—$30.0054.51%$1.80$2.351440
07$11.90$13.40—$32.50—————
—————$35.0054.58%$3.60$4.101,2600
06$9.20$10.40—$37.5053.32%$4.40$5.201680
014$8.00$9.20—$40.0053.45%$5.60$6.50560
024$7.00$8.00—$42.50—$7.10$7.90600
010$6.00$7.0053.57%$45.00—$8.60$9.40760
016$5.20$6.1053.38%$47.50—$10.10$11.00340
039$4.50$5.3053.18%$50.00—$11.80$12.6090
06$3.70$4.6052.32%$52.50—$13.30$14.5010
011$3.30$4.0052.70%$55.00—$15.50$16.5020
013$2.90$3.5052.94%$57.50—————
020$2.45$3.1052.88%$60.00—————
016$2.10$2.6052.35%$62.50—————
279$1.75$2.2552.00%$65.00—————
0144$1.55$1.9552.18%$67.50—————
0124$1.35$1.7552.53%$70.00—————
510$1.00$1.3552.59%$75.00—————

Forward $42.50. The 25-delta put carries +2.23 volatility points over the 25-delta call.

2027-09-17(357 days)ATM 53.86%±22.81skew +2.75
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
01$19.80$21.40—$22.5058.57%$1.00$1.25250
—————$25.0057.47%$1.45$1.7510
—————$27.5056.65%$2.05$2.35140
—————$30.0055.96%$2.75$3.10170
—————$32.5055.57%$3.60$4.00190
—————$35.0055.22%$4.50$5.10240
020$10.50$12.20—$37.5054.75%$5.60$6.2010
050$9.30$10.50—$40.0054.22%$6.80$7.40310
07$8.30$9.40—$42.5054.64%$8.20$8.9030
033$7.40$8.8055.62%$45.00—$9.60$10.4090
094$5.80$6.7053.71%$50.00—$12.80$14.6020
03$4.60$5.3053.32%$55.00—————
022$3.60$4.2052.88%$60.00—————
03$2.20$2.7052.47%$70.00—————
01$1.35$1.8052.43%$80.00—————
08$1.10$1.5052.76%$85.00—————

Forward $42.81. The 25-delta put carries +2.75 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.